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

Monthly Cost of Living

A single person spends $3,849 per month in Reykjavik vs $1,627 in Hella, rent included.

A couple spends around $5,457 per month in Reykjavik vs $2,850 in Hella, rent included.

A family of three spends $7,065 per month in Reykjavik vs $4,074 in Hella, rent included.

Reykjavik costs about 137% more than Hella, driven mainly by Getting Around.

Both Reykjavik and Hella sit above the global median – Reykjavik by 189%, Hella by 22%.

Meal at Budget Restaurant

$26.85 ISK 3,319

$26.50 ISK 3,276

1.32%

Three-Course Dinner for Two, Mid-Range

$142 ISK 17.6K

$147 ISK 18.2K

-3.20%

Fast Food Meal (McDonalds, etc)

$22.18 ISK 2,741

$22.27 ISK 2,753

-0.40%

Cappuccino

$6.17 ISK 763

$6.01 ISK 743

2.66%

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

$2.52 ISK 312

3.97%

Local Beer (0.5 liter draught)

$12.69 ISK 1,569

$12.63 ISK 1,561

0.48%

Imported Beer (0.33 liter bottle)

$11.39 ISK 1,408

$11.04 ISK 1,365

3.17%

Milk (1 liter)

$1.87 ISK 231

$1.94 ISK 240

-3.61%

White Bread (500g)

$4.30 ISK 531

$4.30 ISK 532

Rice (white) (1kg)

$3.56 ISK 440

$3.74 ISK 462

-4.81%

Eggs

$6.28 ISK 777

$6.40 ISK 791

-1.88%

Local Cheese (1kg)

$18.25 ISK 2,255

$18.20 ISK 2,250

0.27%

Chicken Fillets (1kg)

$23.69 ISK 2,929

$24.23 ISK 2,995

-2.23%

Beef Round Steak (1kg)

$42.14 ISK 5,209

$41.93 ISK 5,183

0.50%

Apples (1kg)

$3.33 ISK 412

$3.22 ISK 398

3.42%

Banana (1kg)

$2.41 ISK 298

$2.54 ISK 314

-5.12%

Oranges (1kg)

$3.00 ISK 370

$3.04 ISK 375

-1.32%

Tomato (1kg)

$5.12 ISK 633

$4.95 ISK 612

3.43%

Potato (1kg)

$3.58 ISK 442

$3.55 ISK 439

0.85%

Onion (1kg)

$2.36 ISK 292

$2.31 ISK 286

2.16%

Lettuce (1 head)

$3.14 ISK 388

$3.13 ISK 387

0.32%

Water (1.5 liter bottle)

$2.03 ISK 251

$1.95 ISK 241

4.10%

Cigarettes 20 Pack (Marlboro, Camel)

$13.89 ISK 1,717

$13.41 ISK 1,658

3.58%

Wine (Bottle)

$23.38 ISK 2,890

$22.81 ISK 2,820

2.50%

Local Beer (0.5 liter bottle)

$3.58 ISK 442

$3.55 ISK 439

0.85%

Imported Beer (0.33 liter bottle)

$3.21 ISK 397

$3.36 ISK 416

-4.46%

One-way Ticket (Public Transport)

$5.09 ISK 629

Public Transport Monthly Pass (Regular Price)

$86.7 ISK 10.7K

Taxi Start (Normal Tariff)

$6.37 ISK 787

$6.49 ISK 803

-1.85%

Taxi (Normal Tariff) (1km)

$2.56 ISK 316

$2.61 ISK 323

-1.92%

Taxi 1hour Waiting (Normal Tariff)

$86.9 ISK 10.7K

$84.9 ISK 10.5K

2.35%

Gasoline (1 liter)

$2.45 ISK 303

$2.47 ISK 305

-0.81%

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

$48.1K ISK 5.9M

$48.2K ISK 6.0M

-0.10%

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

$52.6K ISK 6.5M

-0.17%

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

$87.4 ISK 10.8K

$88.7 ISK 11.0K

-1.50%

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

$27.40 ISK 3,386

$27.34 ISK 3,380

0.22%

Internet (50+ Mbps, Unlimited Data)

$86.5 ISK 10.7K

$83.8 ISK 10.4K

3.27%

Gym Membership (Monthly)

$83.6 ISK 10.3K

Tennis Court (1 Hour on Weekend)

$37.79 ISK 4,671

Cinema Ticket

$17.41 ISK 2,152

$17.86 ISK 2,208

-2.52%

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

$322 ISK 39.8K

$317 ISK 39.1K

1.76%

International Primary School, 1 Child (Yearly)

$30.1K ISK 3.7M

$30.3K ISK 3.7M

-0.68%

Jeans (Levis 501 Or Similar)

$137 ISK 16.9K

$140 ISK 17.4K

-2.73%

Summer Dress (H&M, Zara, etc)

$61.0 ISK 7,536

$62.7 ISK 7,748

-2.73%

Sport Shoes (Adidas, Nike)

$181 ISK 22.4K

0.14%

Men's Leather Business Shoes

$271 ISK 33.5K

$261 ISK 32.2K

3.85%

1-bedroom Apartment, City Center (Monthly)

$2,228 ISK 275.4K

1-bedroom Apartment, Outside City Center (Monthly)

$2,035 ISK 251.5K

3-bedroom Apartment, City Center (Monthly)

$3,171 ISK 392.0K

3-bedroom Apartment, Outside City Center (Monthly)

$2,699 ISK 333.6K

Buy Apartment in City Center (m2)

$7,931 ISK 980.2K

Buy Apartment Outside City Center (m2)

$6,333 ISK 782.8K

Average Monthly Net Salary (After Tax)

$4,563 ISK 564.0K

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 Hella: July 27, 2026

Cost Breakdown

A mid-range dinner for two costs $142 in Reykjavik versus $147 in Hella. Monthly groceries follow the same trend: $593 vs $594 – 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: $3,849 in Reykjavik, $1,627 in Hella – roughly 137% apart. Reykjavik costs more across the board, with Getting Around showing the biggest gap.

For a comfortable life, plan on about $5,774 per month in Reykjavik and $2,440 in Hella. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Monthly expenses with rent come to $3,849 in Reykjavik and $1,627 in Hella. The difference isn't just one category – it shows up across housing, food, transport, and services.

Kindergarten costs $322 per month in Reykjavik and $317 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 $1,627, than in Reykjavik at $3,849. 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 $1,627 in Hella to $3,849 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.