Last update: Oct 2026

Cost of Living Comparison Between Reykjavik and Hamilton

For one person, living is cheaper in Reykjavik: $4,037 a month against $5,131 in Hamilton, rent and utilities included – about $13,100 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
249

Cost of Living Index in Hamilton
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Hamilton Living Index

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Reykjavik

🇮🇸 Iceland

$4,037

/mo nomad

Hamilton

🇧🇲 Bermuda

$5,131

/mo nomad

Monthly Cost of Living

How much you'll spend in Reykjavik and in Hamilton

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

A single person spends $4,037 per month in Reykjavik vs $5,131 in Hamilton, rent included.

Reykjavik $4,037
Hamilton $5,131

A couple spends around $5,666 per month in Reykjavik vs $9,033 in Hamilton, rent included.

Reykjavik $5,666
Hamilton $9,033

A family of three spends $7,295 per month in Reykjavik vs $12.9K in Hamilton, rent included.

Reykjavik $7,295
Hamilton $12.9K

Reykjavik is about 21% cheaper than Hamilton, and outside of rent the biggest gap is in utilities.

Both Reykjavik and Hamilton sit above the global median – Reykjavik by 201%, Hamilton by 283%.

Meal at Budget Restaurant

$30.59 ISK 3,730

$49.07 BMD 49.07

-37.66%

Three-Course Dinner for Two, Mid-Range

$136 ISK 16.5K

$153 BMD 153

-11.29%

Fast Food Meal (McDonalds, etc)

$27.08 ISK 3,302

$17.07 BMD 17.07

58.64%

Cappuccino

$6.72 ISK 819

$6.34 BMD 6.34

5.99%

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

$3.27 ISK 399

$2.98 BMD 2.98

9.73%

Water (0.33 liter bottle)

$3.16 ISK 386

$3.17 BMD 3.17

-0.32%

Local Beer (0.5 liter draught)

$13.91 ISK 1,696

$7.43 BMD 7.43

87.21%

Imported Beer (0.33 liter bottle)

$12.06 ISK 1,470

$9.07 BMD 9.07

32.97%

Milk (1 liter)

$2.04 ISK 248

$4.79 BMD 4.79

-57.41%

White Bread (500g)

$4.32 ISK 527

$8.18 BMD 8.18

-47.19%

Rice (white) (1kg)

$3.67 ISK 447

$5.45 BMD 5.45

-32.66%

Eggs

$7.02 ISK 856

$7.23 BMD 7.23

-2.90%

Local Cheese (1kg)

$22.01 ISK 2,684

$23.76 BMD 23.76

-7.37%

Chicken Fillets (1kg)

$24.70 ISK 3,012

$21.05 BMD 21.05

17.34%

Beef Round Steak (1kg)

$42.66 ISK 5,202

$19.59 BMD 19.59

117.76%

Apples (1kg)

$3.37 ISK 412

$8.86 BMD 8.86

-61.96%

Banana (1kg)

$2.85 ISK 347

$6.75 BMD 6.75

-57.78%

Oranges (1kg)

$3.17 ISK 387

$7.34 BMD 7.34

-56.81%

Tomato (1kg)

$6.39 ISK 779

$8.53 BMD 8.53

-25.09%

Potato (1kg)

$4.01 ISK 489

$5.57 BMD 5.57

-28.01%

Onion (1kg)

$1.64 ISK 200

$4.11 BMD 4.11

-60.10%

Lettuce (1 head)

$3.80 ISK 463

$6.33 BMD 6.33

-39.97%

Water (1.5 liter bottle)

$1.74 ISK 212

$3.43 BMD 3.43

-49.27%

Cigarettes 20 Pack (Marlboro, Camel)

$13.80 ISK 1,682

$17.91 BMD 17.91

-22.95%

Wine (Bottle)

$23.38 ISK 2,851

$24.06 BMD 24.06

-2.83%

Local Beer (0.5 liter bottle)

$3.53 ISK 430

$5.18 BMD 5.18

-31.85%

Imported Beer (0.33 liter bottle)

$3.45 ISK 420

$4.31 BMD 4.31

-19.95%

One-way Ticket (Public Transport)

$5.77 ISK 704

$5.14 BMD 5.14

12.26%

Public Transport Monthly Pass (Regular Price)

$95.1 ISK 11.6K

$69.1 BMD 69.1

37.64%

Taxi Start (Normal Tariff)

$6.63 ISK 808

$6.39 BMD 6.39

3.76%

Taxi (Normal Tariff) (1km)

$2.79 ISK 341

$2.91 BMD 2.91

-4.12%

Taxi 1hour Waiting (Normal Tariff)

$81.4 ISK 9,923

$70.7 BMD 70.7

15.12%

Gasoline (1 liter)

$2.11 ISK 257

$2.36 BMD 2.36

-10.59%

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

$50.8K ISK 6.2M

$38.2K BMD 38.2K

33.03%

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

$52.7K ISK 6.4M

$43.3K BMD 43.3K

21.83%

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

$88.7 ISK 10.8K

$293 BMD 293

-69.73%

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

$31.53 ISK 3,845

$151 BMD 151

-79.11%

Internet (50+ Mbps, Unlimited Data)

$84.6 ISK 10.3K

$163 BMD 163

-47.97%

Gym Membership (Monthly)

$100 ISK 12.2K

$189 BMD 189

-46.84%

Tennis Court (1 Hour on Weekend)

$48.20 ISK 5,877

$14.76 BMD 14.76

226.56%

Cinema Ticket

$19.87 ISK 2,424

$13.58 BMD 13.58

46.32%

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

$1,277 ISK 155.8K

$1,307 BMD 1,307

-2.28%

International Primary School, 1 Child (Yearly)

$31.0K ISK 3.8M

$25.3K BMD 25.3K

22.21%

Jeans (Levis 501 Or Similar)

$161 ISK 19.6K

$90.1 BMD 90.1

78.57%

Summer Dress (H&M, Zara, etc)

$64.9 ISK 7,914

$70.1 BMD 70.1

-7.35%

Sport Shoes (Adidas, Nike)

$183 ISK 22.3K

$140 BMD 140

30.26%

Men's Leather Business Shoes

$254 ISK 31.0K

$130 BMD 130

95.37%

1-bedroom Apartment, City Center (Monthly)

$2,499 ISK 304.8K

$3,943 BMD 3,943

-36.62%

1-bedroom Apartment, Outside City Center (Monthly)

$2,000 ISK 243.9K

$2,641 BMD 2,641

-24.26%

3-bedroom Apartment, City Center (Monthly)

$3,452 ISK 421.0K

$8,560 BMD 8,560

-59.68%

3-bedroom Apartment, Outside City Center (Monthly)

$2,742 ISK 334.4K

$7,447 BMD 7,447

-63.17%

Buy Apartment in City Center (m2)

$8,001 ISK 975.7K

$15.1K BMD 15.1K

-47.11%

Buy Apartment Outside City Center (m2)

$6,249 ISK 762.1K

$8,947 BMD 8,947

-30.16%

Average Monthly Net Salary (After Tax)

$4,691 ISK 572.0K

$6,487 BMD 6,487

-27.69%

20-Year Fixed Mortgage Interest Rate (Annual %)

8.81

8.63

2.09%

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

Last update for Reykjavik: October 4, 2026

Last update for Hamilton: October 4, 2026

Monthly budget structure

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

Accommodation & Living

Reykjavik

$2K 50.9%

Hamilton

$2.6K 51.6% 32% $641

Groceries & Markets

Reykjavik

$625 15.9%

Hamilton

$747 14.6% 19.4% $122

Eating Out

Reykjavik

$526 13.4%

Hamilton

$600 11.7% 14% $74

Clothing & Footwear

Reykjavik

$298 7.6%

Hamilton

$194 3.8% 35% $104

Monthly Utilities & Internet

Reykjavik

$205 5.2%

Hamilton

$607 11.9% 196% $402

Sport & Entertainment

Reykjavik

$140 3.6%

Hamilton

$216 4.2% 54.1% $76

Getting Around

Reykjavik

$139 3.5%

Hamilton

$111 2.2% 20.3% $28

Cost Breakdown

A central one-bedroom costs $2,499 in Reykjavik versus $3,943 in Hamilton. 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 38% higher in Hamilton, 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 $136 in Reykjavik versus $153 in Hamilton. Monthly groceries follow the same trend: $625 vs $747 – making Reykjavik the more affordable choice for daily food spending.

Good to know

🇮🇸 Reykjavik

🇧🇲 Hamilton

🕒 Local time

07:42 7:42 AM

04:42 4:42 AM

3 h behind Reykjavik

🌤 Weather

👥 Population

136,894 Capital

10,000 Capital

💱 Currency

Icelandic Króna ISK kr

Bermudian Dollar BMD $

📈 Exchange rate

1,000 ISK = 8.2 USD

1,000 ISK = 7.31 EUR

1 BMD = 1 USD

1 BMD = 0.892 EUR

Exchange rates and currency converter

BMD, USD, EUR to ISK – Icelandic Króna Converter

🇺🇸 United States Dollar ($)

🇮🇸 Icelandic Króna (kr)

Icelandic Króna exchange rates as of October 10, 2026: 1 USD = 122 ISK (1,000 ISK = 8.2 USD). 1 EUR = 137 ISK (1,000 ISK = 7.31 EUR).

Bermudian Dollar exchange rates as of October 10, 2026: 1 USD = 1 BMD (1 BMD = 1 USD). 1 EUR = 1.12 BMD (1 BMD = 0.892 EUR).

USD to ISK in detail →

On the map

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Highest

Between locations

Reykjavik Hamilton 4,590 km ≈ 6 h nonstop flight

From you

Reykjavik
Hamilton

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 Hamilton: Cost of Living - Frequently Asked Questions

Monthly costs with rent: $4,037 in Reykjavik, $5,131 in Hamilton – roughly 27% apart. Outside of rent, the biggest gap is in utilities.

For a comfortable life, plan on about $6,055 per month in Reykjavik and $7,696 in Hamilton. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

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

A mid-range dinner for two costs $136 in Reykjavik and $153 in Hamilton. That's a good indicator of the overall restaurant and café pricing gap between the two cities.

Monthly expenses with rent come to $4,037 in Reykjavik and $5,131 in Hamilton. That's a gap of about 27%.

$3,000 is a stretch for both – monthly costs hit $4,037 in Reykjavik and $5,131 in Hamilton. You'll need shared housing and careful budgeting no matter which city you pick.

It depends on your priorities. Hamilton has an edge in some lifestyle areas, with costs from $4,037 in Reykjavik to $5,131 in Hamilton. Climate, culture, job market, and personal taste all factor in.

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