Cost of Living Comparison Between Reykjavik and Hella Cost of Living Comparison Between Reykjavik and Hella

Monthly Cost of Living

A single person spends $4,054 per month in Reykjavik vs $1,694 in Hella, rent included.

A couple spends around $5,691 per month in Reykjavik vs $2,923 in Hella, rent included.

A family of three spends $7,329 per month in Reykjavik vs $4,152 in Hella, rent included.

Reykjavik costs about 139% more than Hella, driven mainly by Getting Around.

Both Reykjavik and Hella sit above the global median – Reykjavik by 196%, Hella by 24%.

Meal at Budget Restaurant

$30.01 ISK 3,655

$29.93 ISK 3,645

0.27%

Three-Course Dinner for Two, Mid-Range

$134 ISK 16.3K

$137 ISK 16.6K

-2.13%

Fast Food Meal (McDonalds, etc)

$27.02 ISK 3,292

$26.99 ISK 3,287

0.11%

Cappuccino

$7.03 ISK 857

$6.87 ISK 837

2.33%

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

$3.36 ISK 410

$3.25 ISK 396

3.38%

Water (0.33 liter bottle)

$3.35 ISK 408

$3.21 ISK 392

4.36%

Local Beer (0.5 liter draught)

$13.80 ISK 1,681

$13.88 ISK 1,690

-0.58%

Imported Beer (0.33 liter bottle)

$12.17 ISK 1,482

$12.29 ISK 1,497

-0.98%

Milk (1 liter)

$2.03 ISK 248

$2.12 ISK 259

-4.25%

White Bread (500g)

$4.29 ISK 522

$4.32 ISK 526

-0.69%

Rice (white) (1kg)

$3.51 ISK 428

$3.69 ISK 450

-4.88%

Eggs

$7.13 ISK 869

$7.01 ISK 854

1.71%

Local Cheese (1kg)

$21.15 ISK 2,576

$21.12 ISK 2,573

0.14%

Chicken Fillets (1kg)

$25.14 ISK 3,062

$24.72 ISK 3,011

1.70%

Beef Round Steak (1kg)

$42.98 ISK 5,234

$42.94 ISK 5,230

0.09%

Apples (1kg)

$3.38 ISK 412

$3.35 ISK 408

0.90%

Banana (1kg)

$2.85 ISK 347

$2.92 ISK 356

-2.40%

Oranges (1kg)

$3.33 ISK 406

$3.16 ISK 385

5.38%

Tomato (1kg)

$6.30 ISK 767

$6.25 ISK 762

0.80%

Potato (1kg)

$4.08 ISK 497

$4.13 ISK 504

-1.21%

Onion (1kg)

$1.66 ISK 202

Lettuce (1 head)

$3.66 ISK 446

$3.81 ISK 465

-3.94%

Water (1.5 liter bottle)

$1.76 ISK 215

$1.76 ISK 214

Cigarettes 20 Pack (Marlboro, Camel)

$13.96 ISK 1,700

$13.87 ISK 1,690

0.65%

Wine (Bottle)

$23.46 ISK 2,858

$24.10 ISK 2,936

-2.66%

Local Beer (0.5 liter bottle)

$3.73 ISK 455

$3.79 ISK 462

-1.58%

Imported Beer (0.33 liter bottle)

$3.49 ISK 425

$3.37 ISK 410

3.56%

One-way Ticket (Public Transport)

$5.55 ISK 676

Public Transport Monthly Pass (Regular Price)

$94.3 ISK 11.5K

Taxi Start (Normal Tariff)

$6.56 ISK 799

$6.79 ISK 827

-3.39%

Taxi (Normal Tariff) (1km)

$2.89 ISK 351

$2.83 ISK 345

2.12%

Taxi 1hour Waiting (Normal Tariff)

$73.8 ISK 8,985

$74.9 ISK 9,118

-1.46%

Gasoline (1 liter)

$2.00 ISK 243

$2.02 ISK 246

-0.99%

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

$50.6K ISK 6.2M

$50.8K ISK 6.2M

-0.40%

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

$54.2K ISK 6.6M

$54.3K ISK 6.6M

-0.30%

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

$88.8 ISK 10.8K

$88.2 ISK 10.7K

0.71%

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

$32.93 ISK 4,011

$32.75 ISK 3,989

0.55%

Internet (50+ Mbps, Unlimited Data)

$83.1 ISK 10.1K

$83.8 ISK 10.2K

-0.81%

Gym Membership (Monthly)

$96.3 ISK 11.7K

Tennis Court (1 Hour on Weekend)

$49.54 ISK 6,034

Cinema Ticket

$19.82 ISK 2,414

$19.68 ISK 2,396

0.71%

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

$1,213 ISK 147.7K

$1,190 ISK 144.9K

1.93%

International Primary School, 1 Child (Yearly)

$31.2K ISK 3.8M

$30.6K ISK 3.7M

1.85%

Jeans (Levis 501 Or Similar)

$156 ISK 19.0K

$161 ISK 19.6K

-3.05%

Summer Dress (H&M, Zara, etc)

$66.3 ISK 8,076

$67.1 ISK 8,170

-1.13%

Sport Shoes (Adidas, Nike)

$178 ISK 21.7K

$182 ISK 22.1K

-1.85%

Men's Leather Business Shoes

$247 ISK 30.1K

$252 ISK 30.6K

-1.87%

1-bedroom Apartment, City Center (Monthly)

$2,466 ISK 300.3K

1-bedroom Apartment, Outside City Center (Monthly)

$2,078 ISK 253.1K

3-bedroom Apartment, City Center (Monthly)

$3,438 ISK 418.8K

3-bedroom Apartment, Outside City Center (Monthly)

$2,764 ISK 336.6K

Buy Apartment in City Center (m2)

$8,085 ISK 984.8K

Buy Apartment Outside City Center (m2)

$6,258 ISK 762.2K

Average Monthly Net Salary (After Tax)

$4,745 ISK 577.9K

20-Year Fixed Mortgage Interest Rate (Annual %)

8.88

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

Last update for Reykjavik: September 13, 2026

Last update for Hella: September 14, 2026

Cost Breakdown

A mid-range dinner for two costs $134 in Reykjavik versus $137 in Hella. Monthly groceries follow the same trend: $627 vs $627 – 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 Hella: Cost of Living - Frequently Asked Questions

Monthly costs with rent: $4,054 in Reykjavik, $1,694 in Hella – roughly 139% apart. Reykjavik costs more across the board, with Getting Around showing the biggest gap.

For a comfortable life, plan on about $6,080 per month in Reykjavik and $2,541 in Hella. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Monthly expenses with rent come to $4,054 in Reykjavik and $1,694 in Hella. The difference isn't just one category – it shows up across housing, food, transport, and services.

Kindergarten costs $1,213 per month in Reykjavik and $1,190 in Hella. For families with young kids, this one expense can tip the scales when choosing between the two cities.

A $3,000 monthly budget goes further in Hella, where all-in costs run around $1,694, than in Reykjavik at $4,054. In Hella it covers expenses comfortably, while in Reykjavik it requires careful planning or may not stretch far enough.

It depends on your priorities. Reykjavik has an edge in some lifestyle areas, with costs from $1,694 in Hella to $4,054 in Reykjavik. 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 Hella. 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.