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: $4,048 in Reykjavik versus $4,824 in George Town.

Estimated couple costs with rent: $5,736 in Reykjavik versus $7,348 in George Town.

Monthly costs for a family of three with rent: $7,424 in Reykjavik versus $9,872 in George Town.

Living in Reykjavik costs roughly 16% less than in George Town, driven mainly by Sport & Entertainment.

Both cities are pricier than the global median: Reykjavik 195% above, George Town 251% above.

Meal at Budget Restaurant

$30.26 ISK 3,667

$29.84 KYD 24.47

1.41%

Three-Course Dinner for Two, Mid-Range

$135 ISK 16.4K

$115 KYD 94.6

17.42%

Fast Food Meal (McDonalds, etc)

$26.29 ISK 3,186

$16.54 KYD 13.57

58.95%

Cappuccino

$6.95 ISK 842

$7.07 KYD 5.80

-1.70%

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

$3.30 ISK 400

$3.05 KYD 2.50

8.20%

Water (0.33 liter bottle)

$3.35 ISK 406

$2.79 KYD 2.28

20.07%

Local Beer (0.5 liter draught)

$14.06 ISK 1,704

$7.27 KYD 5.96

93.40%

Imported Beer (0.33 liter bottle)

$12.60 ISK 1,527

$9.69 KYD 7.94

30.03%

Milk (1 liter)

$2.10 ISK 254

$4.64 KYD 3.80

-54.74%

White Bread (500g)

$4.47 ISK 542

$4.33 KYD 3.55

3.23%

Rice (white) (1kg)

$3.59 ISK 436

$4.39 KYD 3.60

-18.22%

Eggs

$7.13 ISK 865

$7.46 KYD 6.12

-4.42%

Local Cheese (1kg)

$21.34 ISK 2,586

$55.0 KYD 45.06

-61.16%

Chicken Fillets (1kg)

$24.37 ISK 2,953

$19.25 KYD 15.79

26.60%

Beef Round Steak (1kg)

$42.10 ISK 5,102

$19.72 KYD 16.17

113.49%

Apples (1kg)

$3.35 ISK 406

$7.41 KYD 6.08

-54.79%

Banana (1kg)

$2.82 ISK 341

$3.68 KYD 3.02

-23.37%

Oranges (1kg)

$3.21 ISK 389

$6.09 KYD 4.99

-47.29%

Tomato (1kg)

$6.24 ISK 756

$7.88 KYD 6.46

-20.81%

Potato (1kg)

$4.01 ISK 487

$4.14 KYD 3.39

-3.14%

Onion (1kg)

$1.70 ISK 206

$3.98 KYD 3.26

-57.29%

Lettuce (1 head)

$3.83 ISK 464

$3.19 KYD 2.62

20.06%

Water (1.5 liter bottle)

$1.78 ISK 216

$2.17 KYD 1.78

-17.97%

Cigarettes 20 Pack (Marlboro, Camel)

$13.75 ISK 1,666

$14.43 KYD 11.83

-4.71%

Wine (Bottle)

$24.28 ISK 2,942

$25.24 KYD 20.69

-3.80%

Local Beer (0.5 liter bottle)

$3.79 ISK 460

$4.14 KYD 3.40

-8.45%

Imported Beer (0.33 liter bottle)

$3.45 ISK 418

$5.68 KYD 4.66

-39.26%

One-way Ticket (Public Transport)

$5.81 ISK 704

$2.33 KYD 1.91

149.36%

Public Transport Monthly Pass (Regular Price)

$92.7 ISK 11.2K

$81.6 KYD 66.9

13.68%

Taxi Start (Normal Tariff)

$6.84 ISK 829

$18.57 KYD 15.23

-63.17%

Taxi (Normal Tariff) (1km)

$2.90 ISK 352

$3.89 KYD 3.19

-25.45%

Taxi 1hour Waiting (Normal Tariff)

$74.5 ISK 9,033

$44.79 KYD 36.73

66.42%

Gasoline (1 liter)

$2.00 ISK 242

$1.64 KYD 1.35

21.95%

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

$50.6K ISK 6.1M

$42.5K KYD 34.8K

19.10%

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

$53.4K ISK 6.5M

$42.3K KYD 34.7K

26.31%

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

$89.6 ISK 10.9K

$458 KYD 376

-80.45%

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

$33.11 ISK 4,013

$120 KYD 98.5

-72.45%

Internet (50+ Mbps, Unlimited Data)

$85.1 ISK 10.3K

$115 KYD 94.1

-25.84%

Gym Membership (Monthly)

$99.0 ISK 12.0K

$219 KYD 179

-54.77%

Tennis Court (1 Hour on Weekend)

$50.3 ISK 6,100

$35.38 KYD 29.01

42.28%

Cinema Ticket

$19.43 ISK 2,354

$18.45 KYD 15.13

5.31%

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

$1,173 ISK 142.1K

$1,832 KYD 1,502

-35.97%

International Primary School, 1 Child (Yearly)

$31.2K ISK 3.8M

$26.5K KYD 21.7K

17.87%

Jeans (Levis 501 Or Similar)

$161 ISK 19.5K

$84.9 KYD 69.6

89.65%

Summer Dress (H&M, Zara, etc)

$65.1 ISK 7,890

$73.9 KYD 60.6

-11.83%

Sport Shoes (Adidas, Nike)

$183 ISK 22.2K

$137 KYD 112

34.13%

Men's Leather Business Shoes

$249 ISK 30.2K

$143 KYD 117

74.24%

1-bedroom Apartment, City Center (Monthly)

$2,506 ISK 303.7K

$2,909 KYD 2,385

-13.85%

1-bedroom Apartment, Outside City Center (Monthly)

$2,092 ISK 253.5K

$2,443 KYD 2,003

-14.37%

3-bedroom Apartment, City Center (Monthly)

$3,408 ISK 413.0K

$5,779 KYD 4,739

-41.02%

3-bedroom Apartment, Outside City Center (Monthly)

$2,752 ISK 333.5K

$4,770 KYD 3,911

-42.29%

Buy Apartment in City Center (m2)

$7,972 ISK 966.1K

$8,648 KYD 7,092

-7.82%

Buy Apartment Outside City Center (m2)

$6,354 ISK 770.0K

$2,307 KYD 1,892

175.44%

Average Monthly Net Salary (After Tax)

$4,606 ISK 558.1K

$7,390 KYD 6,060

-37.68%

20-Year Fixed Mortgage Interest Rate (Annual %)

8.88

11.00%

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

Last update for Reykjavik: August 29, 2026

Last update for George Town: August 31, 2026

Cost Breakdown

A one-bedroom apartment in the center runs $2,506 in Reykjavik and $2,909 in George Town. Housing cost is often the main lever when comparing two cities.

George Town pays 60% 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: $135 in Reykjavik vs $115 in George Town. Groceries flip the comparison at $625 vs $722, with Reykjavik cheaper for home cooking.

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 ($4,048 vs $4,824 including rent). Reykjavik is meaningfully more affordable – a gap that matters a lot on a fixed or modest income.

On paper, salaries run 60% 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: $2,506 in Reykjavik versus $2,909 in George Town. Housing is usually the single largest factor when comparing overall living costs between the two.

All in, you'll spend $4,048 per month in Reykjavik versus $4,824 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 14% 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 $3,000. 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.