Cost of Living Comparison Between Reykjavik and George Town Cost of Living Comparison Between Reykjavik and George Town

Monthly Cost of Living

Monthly costs for one person with rent: $3,869 in Reykjavik versus $4,618 in George Town.

Estimated couple costs with rent: $5,475 in Reykjavik versus $7,071 in George Town.

Monthly costs for a family of three with rent: $7,081 in Reykjavik versus $9,524 in George Town.

Living in Reykjavik costs roughly 16% less than in George Town, driven mainly by Monthly Utilities & Internet.

Both cities are pricier than the global median: Reykjavik 190% above, George Town 246% above.

Meal at Budget Restaurant

$27.43 ISK 3,418

$30.65 KYD 25.13

-10.51%

Three-Course Dinner for Two, Mid-Range

$142 ISK 17.7K

$144 KYD 118

-1.14%

Fast Food Meal (McDonalds, etc)

$22.54 ISK 2,809

$15.94 KYD 13.07

41.41%

Cappuccino

$6.05 ISK 754

$6.90 KYD 5.65

-12.32%

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

$3.22 ISK 402

$3.36 KYD 2.76

-4.17%

Water (0.33 liter bottle)

$2.52 ISK 314

$2.72 KYD 2.23

-7.35%

Local Beer (0.5 liter draught)

$12.93 ISK 1,611

$9.27 KYD 7.60

39.48%

Imported Beer (0.33 liter bottle)

$11.39 ISK 1,420

$8.18 KYD 6.71

39.24%

Milk (1 liter)

$1.89 ISK 235

$3.02 KYD 2.48

-37.42%

White Bread (500g)

$4.19 ISK 522

$5.30 KYD 4.35

-20.94%

Rice (white) (1kg)

$3.54 ISK 441

$5.75 KYD 4.72

-38.43%

Eggs

$6.31 ISK 786

$9.84 KYD 8.07

-35.87%

Local Cheese (1kg)

$18.00 ISK 2,243

$11.71 KYD 9.60

53.71%

Chicken Fillets (1kg)

$24.46 ISK 3,048

$16.01 KYD 13.13

52.78%

Beef Round Steak (1kg)

$41.94 ISK 5,226

$16.24 KYD 13.32

158.25%

Apples (1kg)

$3.33 ISK 415

$10.67 KYD 8.75

-68.79%

Banana (1kg)

$2.40 ISK 300

$4.66 KYD 3.82

-48.50%

Oranges (1kg)

$3.03 ISK 377

$7.91 KYD 6.49

-61.69%

Tomato (1kg)

$5.13 ISK 639

$7.64 KYD 6.27

-32.85%

Potato (1kg)

$3.66 ISK 455

$5.34 KYD 4.38

-31.46%

Onion (1kg)

$2.42 ISK 302

$5.50 KYD 4.51

-56.00%

Lettuce (1 head)

$3.17 ISK 394

$6.09 KYD 5.00

-47.95%

Water (1.5 liter bottle)

$1.93 ISK 241

$3.00 KYD 2.46

-35.67%

Cigarettes 20 Pack (Marlboro, Camel)

$13.76 ISK 1,714

$14.61 KYD 11.98

-5.82%

Wine (Bottle)

$22.67 ISK 2,825

$25.67 KYD 21.05

-11.69%

Local Beer (0.5 liter bottle)

$3.75 ISK 467

$3.92 KYD 3.21

-4.34%

Imported Beer (0.33 liter bottle)

$3.26 ISK 406

$5.16 KYD 4.23

-36.82%

One-way Ticket (Public Transport)

$5.30 ISK 661

$2.45 KYD 2.01

116.33%

Public Transport Monthly Pass (Regular Price)

$88.2 ISK 11.0K

$30.28 KYD 24.83

191.35%

Taxi Start (Normal Tariff)

$6.51 ISK 811

$18.28 KYD 14.99

-64.39%

Taxi (Normal Tariff) (1km)

$2.57 ISK 321

$4.82 KYD 3.95

-46.68%

Taxi 1hour Waiting (Normal Tariff)

$86.4 ISK 10.8K

$59.4 KYD 48.69

45.54%

Gasoline (1 liter)

$2.52 ISK 314

$1.71 KYD 1.40

47.37%

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

$47.7K ISK 5.9M

$39.2K KYD 32.1K

21.81%

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

$51.8K ISK 6.5M

$34.0K KYD 27.9K

52.41%

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

$87.1 ISK 10.9K

$385 KYD 316

-77.40%

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

$27.13 ISK 3,380

$97.8 KYD 80.2

-72.25%

Internet (50+ Mbps, Unlimited Data)

$85.4 ISK 10.6K

$110 KYD 90.4

-22.51%

Gym Membership (Monthly)

$84.0 ISK 10.5K

$106 KYD 86.9

-20.66%

Tennis Court (1 Hour on Weekend)

$38.12 ISK 4,750

$40.38 KYD 33.11

-5.60%

Cinema Ticket

$17.35 ISK 2,162

$18.17 KYD 14.90

-4.51%

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

$319 ISK 39.8K

$1,744 KYD 1,430

-81.70%

International Primary School, 1 Child (Yearly)

$30.7K ISK 3.8M

$24.3K KYD 19.9K

26.14%

Jeans (Levis 501 Or Similar)

$138 ISK 17.1K

$91.7 KYD 75.2

50.03%

Summer Dress (H&M, Zara, etc)

$62.8 ISK 7,821

$70.8 KYD 58.1

-11.38%

Sport Shoes (Adidas, Nike)

$182 ISK 22.7K

$147 KYD 121

23.76%

Men's Leather Business Shoes

$269 ISK 33.5K

$149 KYD 122

80.69%

1-bedroom Apartment, City Center (Monthly)

$2,254 ISK 280.8K

$2,806 KYD 2,301

-19.69%

1-bedroom Apartment, Outside City Center (Monthly)

$2,008 ISK 250.2K

$2,485 KYD 2,038

-19.21%

3-bedroom Apartment, City Center (Monthly)

$3,231 ISK 402.6K

$5,558 KYD 4,557

-41.86%

3-bedroom Apartment, Outside City Center (Monthly)

$2,756 ISK 343.4K

$4,697 KYD 3,851

-41.31%

Buy Apartment in City Center (m2)

$7,955 ISK 991.2K

$8,809 KYD 7,223

-9.69%

Buy Apartment Outside City Center (m2)

$6,156 ISK 767.1K

$2,303 KYD 1,889

167.30%

Average Monthly Net Salary (After Tax)

$4,438 ISK 553.0K

$7,125 KYD 5,842

-37.71%

20-Year Fixed Mortgage Interest Rate (Annual %)

9.63

8.25

16.73%

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

Last update for Reykjavik: July 11, 2026

Last update for George Town: July 12, 2026

Cost Breakdown

A one-bedroom apartment in the center runs $2,254 in Reykjavik and $2,806 in George Town. Housing cost is often the main lever when comparing two cities.

George Town pays 61% more on average. The extra income cushions the higher costs, though housing choices and lifestyle decide how much of the gap is truly closed.

Dining out: $142 in Reykjavik vs $144 in George Town for a mid-range dinner for two. Groceries echo the gap at $593 vs $629 per month, with Reykjavik cheaper across the board.

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 George Town: Cost of Living - Frequently Asked Questions

Reykjavik and George Town differ by about 19% in total monthly costs ($3,869 vs $4,618 including rent). Reykjavik is meaningfully more affordable – a gap that matters a lot on a fixed or modest income.

On paper, salaries run 61% lower in George Town. That's worth factoring in alongside costs, though remote workers earning in a stronger currency may not notice the difference at all.

Rent for a central apartment: $2,254 in Reykjavik versus $2,806 in George Town. Housing is usually the single largest factor when comparing overall living costs between the two.

All in, you'll spend $3,869 per month in Reykjavik versus $4,618 in George Town – a 19% gap that adds up to real savings over time for anyone picking the cheaper option.

A monthly transit pass in Reykjavik runs roughly 191% less than in George Town. Both cities have functional networks, but the price difference matters if you're watching your budget.

Both cities are expensive relative to $2,000. Reykjavik is the more realistic option, but even there you'll need to be disciplined with housing, food, and fun money.

Both cities offer a good standard of living with different trade-offs. Neither is objectively better – the right pick depends on what matters most: affordability, career, cultural scene, or climate.

Safety-wise, Reykjavik and George Town 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 Reykjavik gentler on the wallet – expenses run 19% less than in George Town. Beyond cost, consider language, visa policies, and how big the international community is in each city.