Last update: Oct 2026

Cost of Living Comparison Between Reykjavik and Hafnarfjordur

For one person, living is cheaper in Hafnarfjordur: $3,853 a month against $4,040 in Reykjavik, rent and utilities included – about $2,200 less a year. Other living expenses account for most of the difference.

194

Cost of Living Index in Reykjavik
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Reykjavik Living Index
184

Cost of Living Index in Hafnarfjordur
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Hafnarfjordur Living Index

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Reykjavik

🇮🇸 Iceland

$4,040

/mo nomad

Hafnarfjordur

🇮🇸 Iceland

$3,853

/mo nomad

Monthly Cost of Living

How much you'll spend in Reykjavik and in Hafnarfjordur

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 Hafnarfjordur actually costs, broken down by who's living it.

A single person spends $4,040 per month in Reykjavik vs $3,853 in Hafnarfjordur, rent included.

Reykjavik $4,040
Hafnarfjordur $3,853

A couple spends around $5,742 per month in Reykjavik vs $5,410 in Hafnarfjordur, rent included.

Reykjavik $5,742
Hafnarfjordur $5,410

A family of three spends $7,445 per month in Reykjavik vs $6,967 in Hafnarfjordur, rent included.

Reykjavik $7,445
Hafnarfjordur $6,967

Reykjavik costs about 5% more than Hafnarfjordur, and outside of rent the biggest gap is in clothing.

Both Reykjavik and Hafnarfjordur sit above the global median – Reykjavik by 197%, Hafnarfjordur by 183%.

Meal at Budget Restaurant

$31.42 ISK 3,815

$31.04 ISK 3,768

1.22%

Three-Course Dinner for Two, Mid-Range

$125 ISK 15.2K

$125 ISK 15.1K

0.24%

Fast Food Meal (McDonalds, etc)

$27.18 ISK 3,300

$16.40 ISK 1,991

65.73%

Cappuccino

$6.65 ISK 807

$6.71 ISK 814

-0.89%

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

$3.41 ISK 414

$3.33 ISK 405

2.40%

Water (0.33 liter bottle)

$3.04 ISK 369

$3.14 ISK 382

-3.18%

Local Beer (0.5 liter draught)

$14.18 ISK 1,721

$14.02 ISK 1,703

1.14%

Imported Beer (0.33 liter bottle)

$12.16 ISK 1,477

$12.11 ISK 1,470

0.41%

Milk (1 liter)

$2.10 ISK 255

$1.67 ISK 203

25.75%

White Bread (500g)

$4.14 ISK 502

$4.21 ISK 511

-1.66%

Rice (white) (1kg)

$3.69 ISK 447

$3.71 ISK 450

-0.54%

Eggs

$7.09 ISK 860

$7.26 ISK 881

-2.34%

Local Cheese (1kg)

$22.32 ISK 2,709

$21.51 ISK 2,611

3.77%

Chicken Fillets (1kg)

$24.78 ISK 3,008

$24.40 ISK 2,962

1.56%

Beef Round Steak (1kg)

$42.67 ISK 5,181

$41.76 ISK 5,070

2.18%

Apples (1kg)

$3.29 ISK 400

$3.24 ISK 394

1.54%

Banana (1kg)

$2.88 ISK 350

$2.48 ISK 301

16.13%

Oranges (1kg)

$3.27 ISK 397

$3.19 ISK 388

2.51%

Tomato (1kg)

$6.37 ISK 773

$6.41 ISK 779

-0.62%

Potato (1kg)

$3.96 ISK 481

$3.93 ISK 477

0.76%

Onion (1kg)

$1.62 ISK 197

$1.64 ISK 200

-1.22%

Lettuce (1 head)

$3.70 ISK 449

$3.69 ISK 448

0.27%

Water (1.5 liter bottle)

$1.77 ISK 215

$1.82 ISK 221

-2.75%

Cigarettes 20 Pack (Marlboro, Camel)

$13.66 ISK 1,658

$14.04 ISK 1,705

-2.71%

Wine (Bottle)

$24.16 ISK 2,933

$24.05 ISK 2,920

0.46%

Local Beer (0.5 liter bottle)

$3.66 ISK 444

$3.53 ISK 428

3.68%

Imported Beer (0.33 liter bottle)

$3.43 ISK 416

$3.38 ISK 411

1.48%

One-way Ticket (Public Transport)

$5.49 ISK 666

$5.10 ISK 620

7.65%

Public Transport Monthly Pass (Regular Price)

$96.1 ISK 11.7K

$85.0 ISK 10.3K

13.09%

Taxi Start (Normal Tariff)

$6.85 ISK 831

$6.92 ISK 840

-1.01%

Taxi (Normal Tariff) (1km)

$2.90 ISK 352

$2.84 ISK 345

2.11%

Taxi 1hour Waiting (Normal Tariff)

$81.8 ISK 9,935

$80.8 ISK 9,811

1.27%

Gasoline (1 liter)

$2.02 ISK 245

$2.00 ISK 243

1.00%

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

$68.2K ISK 8.3M

$68.7K ISK 8.3M

-0.83%

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

$56.3K ISK 6.8M

$55.8K ISK 6.8M

1.00%

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

$95.9 ISK 11.6K

$69.4 ISK 8,419

38.33%

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

$32.16 ISK 3,904

$32.65 ISK 3,964

-1.50%

Internet (50+ Mbps, Unlimited Data)

$86.4 ISK 10.5K

$85.0 ISK 10.3K

1.67%

Gym Membership (Monthly)

$96.9 ISK 11.8K

$65.1 ISK 7,900

48.86%

Tennis Court (1 Hour on Weekend)

$51.2 ISK 6,216

Cinema Ticket

$19.28 ISK 2,340

$17.08 ISK 2,073

12.88%

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

$1,178 ISK 143.0K

$1,172 ISK 142.3K

0.50%

International Primary School, 1 Child (Yearly)

$25.8K ISK 3.1M

$25.9K ISK 3.1M

-0.39%

Jeans (Levis 501 Or Similar)

$152 ISK 18.5K

$125 ISK 15.1K

22.00%

Summer Dress (H&M, Zara, etc)

$66.5 ISK 8,076

$67.1 ISK 8,150

-0.92%

Sport Shoes (Adidas, Nike)

$183 ISK 22.3K

$124 ISK 15.1K

47.28%

Men's Leather Business Shoes

$246 ISK 29.8K

$246 ISK 29.9K

-0.26%

1-bedroom Apartment, City Center (Monthly)

$2,585 ISK 313.8K

$2,496 ISK 303.1K

3.53%

1-bedroom Apartment, Outside City Center (Monthly)

$2,098 ISK 254.7K

$2,075 ISK 251.8K

1.14%

3-bedroom Apartment, City Center (Monthly)

$3,513 ISK 426.5K

$3,232 ISK 392.3K

8.71%

3-bedroom Apartment, Outside City Center (Monthly)

$2,792 ISK 338.9K

$2,670 ISK 324.2K

4.55%

Buy Apartment in City Center (m2)

$8,038 ISK 975.8K

$7,011 ISK 851.1K

14.65%

Buy Apartment Outside City Center (m2)

$6,305 ISK 765.5K

$7,014 ISK 851.6K

-10.11%

Average Monthly Net Salary (After Tax)

$4,549 ISK 552.3K

$4,674 ISK 567.4K

-2.66%

20-Year Fixed Mortgage Interest Rate (Annual %)

8.81

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

Last update for Reykjavik: October 25, 2026

Last update for Hafnarfjordur: October 24, 2026

Monthly budget structure

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

Accommodation & Living

Reykjavik

$2.1K 51.9%

Hafnarfjordur

$2.1K 53.8% 1.1% $24

Groceries & Markets

Reykjavik

$628 15.5%

Hafnarfjordur

$615 16% 2% $13

Eating Out

Reykjavik

$534 13.2%

Hafnarfjordur

$498 12.9% 6.7% $36

Clothing & Footwear

Reykjavik

$291 7.2%

Hafnarfjordur

$253 6.6% 13.1% $38

Monthly Utilities & Internet

Reykjavik

$215 5.3%

Hafnarfjordur

$187 4.9% 12.8% $28

Getting Around

Reykjavik

$139 3.5%

Hafnarfjordur

$127 3.3% 9.3% $13

Sport & Entertainment

Reykjavik

$135 3.4%

Hafnarfjordur

$99 2.6% 26.7% $36

Cost Breakdown

A central one-bedroom costs $2,585 in Reykjavik versus $2,496 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 3% higher in Hafnarfjordur, which reinforces the cost advantage – you earn more and spend less. Purchasing power leans clearly in its favor.

A mid-range dinner for two costs $125 in Reykjavik versus $125 in Hafnarfjordur. Groceries tell a different story – $628 in Reykjavik vs $615 in Hafnarfjordur – so Hafnarfjordur wins on supermarket bills even if dining out costs more.

Good to know

🇮🇸 Reykjavik

🇮🇸 Hafnarfjordur

🕒 Local time

04:39 4:39 AM

Same time as Reykjavik

🌤 Weather

👥 Population

136,894 Capital

31,525

💱 Currency

Icelandic Króna ISK kr

📈 Exchange rate

1,000 ISK = 8.24 USD

1,000 ISK = 7.38 EUR

1,000 ISK = 8.24 USD

1,000 ISK = 7.38 EUR

Exchange rates and currency converter

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Reykjavik Hafnarfjordur 9 km

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Reykjavik
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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 Hafnarfjordur: Cost of Living - Frequently Asked Questions

Reykjavik costs about 5% more than Hafnarfjordur, and outside of rent the gap comes mainly from clothing. That’s enough to noticeably affect everyday spending and lifestyle for anyone choosing between the two.

For a comfortable life, plan on about $6,061 per month in Reykjavik and $5,780 in Hafnarfjordur. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

A central 1-bedroom goes for about $2,585 in Reykjavik and $2,496 in Hafnarfjordur. The gap holds across neighborhoods – outer areas show a similar spread, just at lower price points.

Monthly expenses with rent come to $4,040 in Reykjavik and $3,853 in Hafnarfjordur. That makes Hafnarfjordur about 5% cheaper.

Public transport costs about 12% 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 $4,040 in Reykjavik and $3,853 in Hafnarfjordur. You’ll need shared housing and careful budgeting no matter which city you pick.

It depends on your priorities. Reykjavik has an edge in some lifestyle areas, with costs from $3,853 in Hafnarfjordur to $4,040 in Reykjavik. Climate, culture, job market, and personal taste all factor in.

Both cities have a reputation for safety. In either place, the choice of neighborhood matters more than the choice between the two cities.