Cost of Living Comparison Between Reykjavik and Egilsstadir Cost of Living Comparison Between Reykjavik and Egilsstadir

Monthly Cost of Living

Monthly costs for one person with rent: $4,048 in Reykjavik versus $620 in Egilsstadir.

Estimated couple costs with rent: $5,736 in Reykjavik versus $1,026 in Egilsstadir.

Monthly costs for a family of three with rent: $7,424 in Reykjavik versus $1,432 in Egilsstadir.

Living in Reykjavik is roughly 553% more expensive than in Egilsstadir, driven mainly by Eating Out.

The two cities straddle the global median: Reykjavik is 195% above, Egilsstadir is 55% below.

Meal at Budget Restaurant

$30.26 ISK 3,667

Three-Course Dinner for Two, Mid-Range

$135 ISK 16.4K

Fast Food Meal (McDonalds, etc)

$26.29 ISK 3,186

Cappuccino

$6.95 ISK 842

Coke/Pepsi/Fanta/Sprite (0.33 liter bottle)

$3.30 ISK 400

Water (0.33 liter bottle)

$3.35 ISK 406

Local Beer (0.5 liter draught)

$14.06 ISK 1,704

Imported Beer (0.33 liter bottle)

$12.60 ISK 1,527

Milk (1 liter)

$2.10 ISK 254

$1.74 ISK 210

20.69%

White Bread (500g)

$4.47 ISK 542

$2.88 ISK 349

55.21%

Rice (white) (1kg)

$3.59 ISK 436

$2.42 ISK 294

48.35%

Eggs

$7.13 ISK 865

$5.82 ISK 705

22.51%

Local Cheese (1kg)

$21.34 ISK 2,586

$22.22 ISK 2,693

-3.96%

Chicken Fillets (1kg)

$24.37 ISK 2,953

$32.06 ISK 3,885

-23.99%

Beef Round Steak (1kg)

$42.10 ISK 5,102

$44.15 ISK 5,351

-4.64%

Apples (1kg)

$3.35 ISK 406

$2.76 ISK 335

21.38%

Banana (1kg)

$2.82 ISK 341

$2.54 ISK 307

11.02%

Oranges (1kg)

$3.21 ISK 389

$2.52 ISK 306

27.38%

Tomato (1kg)

$6.24 ISK 756

$3.71 ISK 449

68.19%

Potato (1kg)

$4.01 ISK 487

$4.41 ISK 534

-9.07%

Onion (1kg)

$1.70 ISK 206

$2.18 ISK 264

-22.02%

Lettuce (1 head)

$3.83 ISK 464

$2.20 ISK 267

74.09%

Water (1.5 liter bottle)

$1.78 ISK 216

$2.22 ISK 269

-19.82%

Cigarettes 20 Pack (Marlboro, Camel)

$13.75 ISK 1,666

Wine (Bottle)

$24.28 ISK 2,942

$21.84 ISK 2,646

11.17%

Local Beer (0.5 liter bottle)

$3.79 ISK 460

$3.91 ISK 473

-3.07%

Imported Beer (0.33 liter bottle)

$3.45 ISK 418

$3.53 ISK 428

-2.27%

One-way Ticket (Public Transport)

$5.81 ISK 704

Public Transport Monthly Pass (Regular Price)

$92.7 ISK 11.2K

Taxi Start (Normal Tariff)

$6.84 ISK 829

$6.02 ISK 730

13.62%

Taxi (Normal Tariff) (1km)

$2.90 ISK 352

Taxi 1hour Waiting (Normal Tariff)

$74.5 ISK 9,033

Gasoline (1 liter)

$2.00 ISK 242

$2.32 ISK 282

-13.79%

Midsize Hatchback 1.4l (Volkswagen Golf, Toyota Prius, Honda Civic, etc)

$50.6K ISK 6.1M

Compact Sedan 1.6l (Toyota Corolla, Mazda3, Kia K4, Hyundai Elantra, etc)

$53.4K ISK 6.5M

Utilities for 2 People in 2-bedroom Apartment (Heating, Electricity, Gas, Water, Garbage) (85m2)

$89.6 ISK 10.9K

SIM Card Monthly Plan (Calls and 10GB+ Data)

$33.11 ISK 4,013

Internet (50+ Mbps, Unlimited Data)

$85.1 ISK 10.3K

Gym Membership (Monthly)

$99.0 ISK 12.0K

Tennis Court (1 Hour on Weekend)

$50.3 ISK 6,100

Cinema Ticket

$19.43 ISK 2,354

Preschool or Kindergarten, Full Day, Private, 1 Child (Monthly)

$1,173 ISK 142.1K

International Primary School, 1 Child (Yearly)

$31.2K ISK 3.8M

Jeans (Levis 501 Or Similar)

$161 ISK 19.5K

Summer Dress (H&M, Zara, etc)

$65.1 ISK 7,890

Sport Shoes (Adidas, Nike)

$183 ISK 22.2K

Men's Leather Business Shoes

$249 ISK 30.2K

1-bedroom Apartment, City Center (Monthly)

$2,506 ISK 303.7K

1-bedroom Apartment, Outside City Center (Monthly)

$2,092 ISK 253.5K

3-bedroom Apartment, City Center (Monthly)

$3,408 ISK 413.0K

3-bedroom Apartment, Outside City Center (Monthly)

$2,752 ISK 333.5K

Buy Apartment in City Center (m2)

$7,972 ISK 966.1K

Buy Apartment Outside City Center (m2)

$6,354 ISK 770.0K

Average Monthly Net Salary (After Tax)

$4,606 ISK 558.1K

20-Year Fixed Mortgage Interest Rate (Annual %)

8.88

CityCost data is based on AI and user input – minor inaccuracies may occur.

Last update for Reykjavik: August 29, 2026

Last update for Egilsstadir: August 29, 2026

City Median Internet Speeds Comparison (Updated April 2026)

The chart highlights the Precision Threshold for mobile and fixed broadband internet speeds, updated quarterly.

Digital Nomad Cost of Living Index

Reykjavik vs Egilsstadir: Cost of Living - Frequently Asked Questions

Egilsstadir is cheaper overall, especially in Groceries & Markets, Eating Out, Clothing & Footwear, Sport & Entertainment, Getting Around. The 553% gap adds up to real monthly savings that compound significantly over time.

You'd need roughly $6,073 in Reykjavik and $930 in Egilsstadir to live well. The gap comes down to housing and overall price levels. Both cities are liveable on less, but these numbers represent actual comfort.

Supermarket bills run roughly 1% higher in Reykjavik. For households that cook at home regularly, that difference adds up over a month.

All in, you'll spend $4,048 per month in Reykjavik versus $620 in Egilsstadir – a 553% gap that adds up to real savings over time for anyone picking the cheaper option.

At $620 in Egilsstadir versus $4,048 in Reykjavik, a $1,500 budget is realistic in Egilsstadir but tight or insufficient in Reykjavik. The gap between the two cities makes Egilsstadir the clear choice for anyone on this budget.

For families, Egilsstadir is more practical. Housing and childcare are both notably cheaper than in Reykjavik, and the savings on those two alone free up budget for education, activities, and family trips.

Safety-wise, Reykjavik and Egilsstadir are on par. Petty crime is typical for cities this size, and most residents feel comfortable going about their daily routines in either place.

Expats usually find Egilsstadir gentler on the wallet – expenses run 553% less than in Reykjavik. Beyond cost, consider language, visa policies, and how big the international community is in each city.