Last update: Oct 2026

Cost of Living Comparison Between Reykjavik and George Town

For one person, living is cheaper in Reykjavik: $4,002 a month against $4,936 in George Town, rent and utilities included – about $11,200 less a year. Rent and utilities account for most of the difference.

193

Cost of Living Index in Reykjavik
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Reykjavik Living Index
238

Cost of Living Index in George Town
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George Town Living Index

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Reykjavik

🇮🇸 Iceland

$4,002

/mo nomad

George Town

🇰🇾 Cayman Islands

$4,936

/mo nomad

Monthly Cost of Living

How much you'll spend in Reykjavik and in George Town

Real prices from locals and on-the-ground checks – rent, groceries, transit and the daily extras. Here's what a month in Reykjavik and in George Town actually costs, broken down by who's living it.

Monthly costs for one person with rent: $4,002 in Reykjavik versus $4,936 in George Town.

Reykjavik $4,002
George Town $4,936

Estimated couple costs with rent: $5,705 in Reykjavik versus $7,405 in George Town.

Reykjavik $5,705
George Town $7,405

Monthly costs for a family of three with rent: $7,407 in Reykjavik versus $9,875 in George Town.

Reykjavik $7,407
George Town $9,875

Living in Reykjavik costs roughly 19% less than in George Town, and outside of rent the biggest gap is in utilities.

Both cities are pricier than the global median: Reykjavik 196% above, George Town 266% above.

Meal at Budget Restaurant

$31.56 ISK 3,828

$30.24 KYD 24.80

4.37%

Three-Course Dinner for Two, Mid-Range

$122 ISK 14.8K

$115 KYD 94.0

6.73%

Fast Food Meal (McDonalds, etc)

$26.86 ISK 3,258

$16.97 KYD 13.91

58.28%

Cappuccino

$6.81 ISK 827

$7.16 KYD 5.87

-4.89%

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

$3.39 ISK 411

$2.99 KYD 2.45

13.38%

Water (0.33 liter bottle)

$3.20 ISK 388

$2.86 KYD 2.35

11.89%

Local Beer (0.5 liter draught)

$14.14 ISK 1,715

$7.10 KYD 5.82

99.15%

Imported Beer (0.33 liter bottle)

$12.31 ISK 1,493

$9.42 KYD 7.73

30.68%

Milk (1 liter)

$2.10 ISK 255

$4.67 KYD 3.83

-55.03%

White Bread (500g)

$4.19 ISK 508

$4.23 KYD 3.47

-0.95%

Rice (white) (1kg)

$3.72 ISK 451

$4.40 KYD 3.61

-15.45%

Eggs

$7.05 ISK 856

$7.29 KYD 5.98

-3.29%

Local Cheese (1kg)

$21.56 ISK 2,615

$55.9 KYD 45.87

-61.46%

Chicken Fillets (1kg)

$24.68 ISK 2,993

$18.98 KYD 15.56

30.03%

Beef Round Steak (1kg)

$42.19 ISK 5,117

$19.38 KYD 15.89

117.70%

Apples (1kg)

$3.23 ISK 392

$7.47 KYD 6.12

-56.76%

Banana (1kg)

$2.73 ISK 331

$3.62 KYD 2.96

-24.59%

Oranges (1kg)

$3.17 ISK 384

$6.01 KYD 4.93

-47.25%

Tomato (1kg)

$6.61 ISK 802

$7.95 KYD 6.52

-16.86%

Potato (1kg)

$3.85 ISK 467

$4.03 KYD 3.31

-4.47%

Onion (1kg)

$1.66 ISK 201

$3.96 KYD 3.24

-58.08%

Lettuce (1 head)

$3.80 ISK 461

$3.18 KYD 2.61

19.50%

Water (1.5 liter bottle)

$1.75 ISK 212

$2.25 KYD 1.85

-22.22%

Cigarettes 20 Pack (Marlboro, Camel)

$13.71 ISK 1,662

$14.50 KYD 11.89

-5.45%

Wine (Bottle)

$24.21 ISK 2,937

$25.15 KYD 20.62

-3.74%

Local Beer (0.5 liter bottle)

$3.53 ISK 428

$4.14 KYD 3.40

-14.73%

Imported Beer (0.33 liter bottle)

$3.32 ISK 402

$5.37 KYD 4.40

-38.18%

One-way Ticket (Public Transport)

$5.75 ISK 697

$2.34 KYD 1.92

145.73%

Public Transport Monthly Pass (Regular Price)

$93.8 ISK 11.4K

$79.7 KYD 65.4

17.67%

Taxi Start (Normal Tariff)

$6.61 ISK 802

$19.10 KYD 15.66

-65.39%

Taxi (Normal Tariff) (1km)

$2.90 ISK 352

$3.86 KYD 3.16

-24.87%

Taxi 1hour Waiting (Normal Tariff)

$79.2 ISK 9,602

$45.76 KYD 37.52

72.99%

Gasoline (1 liter)

$2.09 ISK 253

$1.65 KYD 1.35

26.67%

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

$51.0K ISK 6.2M

$42.3K KYD 34.7K

20.68%

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

$53.3K ISK 6.5M

$43.1K KYD 35.3K

23.66%

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

$95.3 ISK 11.6K

$459 KYD 377

-79.26%

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

$32.35 ISK 3,923

$118 KYD 96.4

-72.48%

Internet (50+ Mbps, Unlimited Data)

$87.5 ISK 10.6K

$112 KYD 91.9

-21.90%

Gym Membership (Monthly)

$102 ISK 12.4K

$213 KYD 174

-52.12%

Tennis Court (1 Hour on Weekend)

$50.1 ISK 6,074

$35.02 KYD 28.71

43.00%

Cinema Ticket

$19.88 ISK 2,412

$18.78 KYD 15.40

5.86%

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

$1,194 ISK 144.8K

$1,840 KYD 1,509

-35.11%

International Primary School, 1 Child (Yearly)

$25.4K ISK 3.1M

$26.2K KYD 21.5K

-3.09%

Jeans (Levis 501 Or Similar)

$149 ISK 18.1K

$85.9 KYD 70.4

73.53%

Summer Dress (H&M, Zara, etc)

$66.6 ISK 8,080

$74.8 KYD 61.3

-10.91%

Sport Shoes (Adidas, Nike)

$180 ISK 21.8K

$138 KYD 113

30.21%

Men's Leather Business Shoes

$253 ISK 30.7K

$147 KYD 121

72.06%

1-bedroom Apartment, City Center (Monthly)

$2,549 ISK 309.2K

$2,943 KYD 2,413

-13.39%

1-bedroom Apartment, Outside City Center (Monthly)

$2,056 ISK 249.4K

$2,491 KYD 2,042

-17.45%

3-bedroom Apartment, City Center (Monthly)

$3,498 ISK 424.2K

$5,699 KYD 4,674

-38.63%

3-bedroom Apartment, Outside City Center (Monthly)

$2,764 ISK 335.2K

$4,661 KYD 3,822

-40.70%

Buy Apartment in City Center (m2)

$8,120 ISK 984.9K

$8,627 KYD 7,074

-5.88%

Buy Apartment Outside City Center (m2)

$6,254 ISK 758.5K

$2,246 KYD 1,842

178.38%

Average Monthly Net Salary (After Tax)

$4,573 ISK 554.6K

$7,354 KYD 6,030

-37.82%

20-Year Fixed Mortgage Interest Rate (Annual %)

8.81

10.13%

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

Last update for Reykjavik: October 12, 2026

Last update for George Town: October 10, 2026

Monthly budget structure

Share of the monthly basket for one person, rent included.

Accommodation & Living

Reykjavik

$2.1K 51.4%

George Town

$2.5K 50.5% 21.1% $435

Groceries & Markets

Reykjavik

$623 15.6%

George Town

$721 14.6% 15.8% $98

Eating Out

Reykjavik

$536 13.4%

George Town

$457 9.3% 14.9% $80

Clothing & Footwear

Reykjavik

$292 7.3%

George Town

$201 4.1% 31.3% $91

Monthly Utilities & Internet

Reykjavik

$215 5.4%

George Town

$689 14% 220% $474

Sport & Entertainment

Reykjavik

$142 3.5%

George Town

$250 5.1% 76.7% $109

Getting Around

Reykjavik

$138 3.5%

George Town

$127 2.6% 7.6% $10

Cost Breakdown

A one-bedroom apartment in the center runs $2,549 in Reykjavik and $2,943 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: $122 in Reykjavik vs $115 in George Town. Groceries flip the comparison at $623 vs $721, with Reykjavik cheaper for home cooking.

Good to know

🇮🇸 Reykjavik

🇰🇾 George Town

🕒 Local time

19:42 7:42 PM

14:42 2:42 PM

5 h behind Reykjavik

🌤 Weather

👥 Population

136,894 Capital

28,089 Capital

💱 Currency

Icelandic Króna ISK kr

Cayman Islands Dollar KYD $

📈 Exchange rate

1,000 ISK = 8.24 USD

1,000 ISK = 7.33 EUR

1 KYD = 1.22 USD

1 KYD = 1.08 EUR

Exchange rates and currency converter

KYD, USD, EUR to ISK – Icelandic Króna Converter

🇺🇸 United States Dollar ($)

🇮🇸 Icelandic Króna (kr)

Icelandic Króna exchange rates as of October 18, 2026: 1 USD = 121 ISK (1,000 ISK = 8.24 USD). 1 EUR = 136 ISK (1,000 ISK = 7.33 EUR).

Cayman Islands Dollar exchange rates as of October 18, 2026: 1 USD = 0.82 KYD (1 KYD = 1.22 USD). 1 EUR = 0.922 KYD (1 KYD = 1.08 EUR).

USD to ISK in detail →

On the map

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Between locations

Reykjavik George Town 6,620 km ≈ 9 h nonstop flight

From you

Reykjavik
George Town

Distances are measured in a straight line. Your location is detected approximately.

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 23% in total monthly costs ($4,002 vs $4,936 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: $2,549 in Reykjavik versus $2,943 in George Town. Housing is usually the single largest factor when comparing overall living costs between the two.

All in, you'll spend $4,002 per month in Reykjavik versus $4,936 in George Town – a 23% gap that adds up to real savings over time for anyone picking the cheaper option.

A monthly transit pass in Reykjavik runs roughly 18% 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 23% less than in George Town. Beyond cost, consider language, visa policies, and how big the international community is in each city.