Cost of Living Comparison Between Reykjavik and Hafnarfjordur Cost of Living Comparison Between Reykjavik and Hafnarfjordur

Monthly Cost of Living

A single person spends $3,849 per month in Reykjavik vs $3,743 in Hafnarfjordur, rent included.

A couple spends around $5,457 per month in Reykjavik vs $5,243 in Hafnarfjordur, rent included.

A family of three spends $7,065 per month in Reykjavik vs $6,742 in Hafnarfjordur, rent included.

Reykjavik costs about 3% more than Hafnarfjordur, driven mainly by Clothing & Footwear.

Both Reykjavik and Hafnarfjordur sit above the global median – Reykjavik by 189%, Hafnarfjordur by 181%.

Meal at Budget Restaurant

$26.85 ISK 3,319

$26.51 ISK 3,277

1.28%

Three-Course Dinner for Two, Mid-Range

$142 ISK 17.6K

$145 ISK 18.0K

-2.26%

Fast Food Meal (McDonalds, etc)

$22.18 ISK 2,741

$16.15 ISK 1,997

37.34%

Cappuccino

$6.17 ISK 763

$5.95 ISK 735

3.70%

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

$3.24 ISK 401

$3.26 ISK 403

-0.61%

Water (0.33 liter bottle)

$2.62 ISK 324

$2.61 ISK 323

0.38%

Local Beer (0.5 liter draught)

$12.69 ISK 1,569

$12.64 ISK 1,562

0.40%

Imported Beer (0.33 liter bottle)

$11.39 ISK 1,408

$11.36 ISK 1,404

0.26%

Milk (1 liter)

$1.87 ISK 231

$1.69 ISK 209

10.65%

White Bread (500g)

$4.30 ISK 531

$4.31 ISK 532

-0.23%

Rice (white) (1kg)

$3.56 ISK 440

Eggs

$6.28 ISK 777

$6.21 ISK 767

1.13%

Local Cheese (1kg)

$18.25 ISK 2,255

$18.06 ISK 2,232

1.05%

Chicken Fillets (1kg)

$23.69 ISK 2,929

$23.82 ISK 2,944

-0.55%

Beef Round Steak (1kg)

$42.14 ISK 5,209

$43.07 ISK 5,324

-2.16%

Apples (1kg)

$3.33 ISK 412

$3.35 ISK 414

-0.60%

Banana (1kg)

$2.41 ISK 298

$2.34 ISK 289

2.99%

Oranges (1kg)

$3.00 ISK 370

$3.14 ISK 388

-4.46%

Tomato (1kg)

$5.12 ISK 633

$5.03 ISK 622

1.79%

Potato (1kg)

$3.58 ISK 442

$3.67 ISK 453

-2.45%

Onion (1kg)

$2.36 ISK 292

$2.40 ISK 296

-1.67%

Lettuce (1 head)

$3.14 ISK 388

$3.07 ISK 380

2.28%

Water (1.5 liter bottle)

$2.03 ISK 251

$1.92 ISK 237

5.73%

Cigarettes 20 Pack (Marlboro, Camel)

$13.89 ISK 1,717

$13.77 ISK 1,703

0.87%

Wine (Bottle)

$23.38 ISK 2,890

Local Beer (0.5 liter bottle)

$3.58 ISK 442

$3.64 ISK 450

-1.65%

Imported Beer (0.33 liter bottle)

$3.21 ISK 397

One-way Ticket (Public Transport)

$5.09 ISK 629

$5.19 ISK 642

-1.93%

Public Transport Monthly Pass (Regular Price)

$86.7 ISK 10.7K

$83.2 ISK 10.3K

4.23%

Taxi Start (Normal Tariff)

$6.37 ISK 787

$6.47 ISK 800

-1.55%

Taxi (Normal Tariff) (1km)

$2.56 ISK 316

$2.52 ISK 312

1.59%

Taxi 1hour Waiting (Normal Tariff)

$86.9 ISK 10.7K

$85.7 ISK 10.6K

1.39%

Gasoline (1 liter)

$2.45 ISK 303

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

$48.1K ISK 5.9M

$46.5K ISK 5.7M

3.56%

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

$52.6K ISK 6.5M

$52.0K ISK 6.4M

1.01%

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

$87.4 ISK 10.8K

$69.5 ISK 8,589

25.72%

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

$27.40 ISK 3,386

$27.05 ISK 3,344

1.29%

Internet (50+ Mbps, Unlimited Data)

$86.5 ISK 10.7K

$86.3 ISK 10.7K

0.27%

Gym Membership (Monthly)

$83.6 ISK 10.3K

$64.1 ISK 7,917

30.57%

Tennis Court (1 Hour on Weekend)

$37.79 ISK 4,671

Cinema Ticket

$17.41 ISK 2,152

$16.45 ISK 2,033

5.84%

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

$322 ISK 39.8K

$321 ISK 39.7K

0.19%

International Primary School, 1 Child (Yearly)

$30.1K ISK 3.7M

-0.00%

Jeans (Levis 501 Or Similar)

$137 ISK 16.9K

$118 ISK 14.6K

15.32%

Summer Dress (H&M, Zara, etc)

$61.0 ISK 7,536

$60.9 ISK 7,527

0.11%

Sport Shoes (Adidas, Nike)

$181 ISK 22.4K

$121 ISK 15.0K

49.68%

Men's Leather Business Shoes

$271 ISK 33.5K

$271 ISK 33.4K

0.07%

1-bedroom Apartment, City Center (Monthly)

$2,228 ISK 275.4K

$2,379 ISK 294.1K

-6.36%

1-bedroom Apartment, Outside City Center (Monthly)

$2,035 ISK 251.5K

$2,013 ISK 248.8K

1.10%

3-bedroom Apartment, City Center (Monthly)

$3,171 ISK 392.0K

$3,196 ISK 395.0K

-0.76%

3-bedroom Apartment, Outside City Center (Monthly)

$2,699 ISK 333.6K

$2,588 ISK 319.9K

4.28%

Buy Apartment in City Center (m2)

$7,931 ISK 980.2K

$6,883 ISK 850.7K

15.23%

Buy Apartment Outside City Center (m2)

$6,333 ISK 782.8K

$6,652 ISK 822.2K

-4.80%

Average Monthly Net Salary (After Tax)

$4,563 ISK 564.0K

$4,538 ISK 560.9K

0.55%

20-Year Fixed Mortgage Interest Rate (Annual %)

9.63

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

Last update for Reykjavik: July 28, 2026

Last update for Hafnarfjordur: July 27, 2026

Cost Breakdown

A central one-bedroom costs $2,228 in Reykjavik versus $2,379 in Hafnarfjordur. Rent is usually the largest line item in a monthly budget, so the gap here sets the tone for the overall comparison.

Salaries run about 1% higher in Reykjavik, which partly offsets the higher cost of living there. Purchasing power depends on which expenses matter most to you.

A mid-range dinner for two costs $142 in Reykjavik versus $145 in Hafnarfjordur. Monthly groceries follow the same trend: $593 vs $593 – making Reykjavik the more affordable choice for daily food spending.

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 Hafnarfjordur: Cost of Living - Frequently Asked Questions

Reykjavik costs about 3% more than Hafnarfjordur, with the gap driven mainly by Clothing & Footwear. That's enough to noticeably affect everyday spending and lifestyle for anyone choosing between the two.

For a comfortable life, plan on about $5,774 per month in Reykjavik and $5,615 in Hafnarfjordur. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Rent is clearly cheaper in Hafnarfjordur, especially for central apartments. Housing is actually the single biggest factor behind the overall cost gap between these two cities.

Monthly expenses with rent come to $3,849 in Reykjavik and $3,743 in Hafnarfjordur. The difference isn't just one category – it shows up across housing, food, transport, and services.

Public transport costs about 4% less in Hafnarfjordur. For daily commuters, that gap adds up to noticeable savings over a year.

$2,000 is a stretch for both – monthly costs hit $3,849 in Reykjavik and $3,743 in Hafnarfjordur. You'll need shared housing and careful budgeting no matter which city you pick.

For digital nomads, it depends on budget. Hafnarfjordur costs $3,743 versus $3,849 in Reykjavik. Both have workable remote work infrastructure, but the cost gap matters when income varies month to month.

Both have safer and rougher neighborhoods, but overall safety is comparable to other large cities. Neighborhood choice matters more than the city-level comparison – central, well-trafficked areas feel secure in both.

If budget matters most, go with Hafnarfjordur. If higher salaries, better infrastructure, or specific career opportunities are the priority, Reykjavik makes more sense. Both are solid long-term options with distinct trade-offs.