Cost of Living Comparison Between Reykjavik and Isafjordur Cost of Living Comparison Between Reykjavik and Isafjordur

Meal at Budget Restaurant

$26.55 ISK 3,251

Three-Course Dinner for Two, Mid-Range

$144 ISK 17.6K

Fast Food Meal (McDonalds, etc)

$22.87 ISK 2,801

Cappuccino

$5.98 ISK 732

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

$3.23 ISK 396

Water (0.33 liter bottle)

$2.55 ISK 312

Local Beer (0.5 liter draught)

$13.06 ISK 1,599

Imported Beer (0.33 liter bottle)

$11.07 ISK 1,356

Milk (1 liter)

$1.87 ISK 229

White Bread (500g)

$4.33 ISK 530

Rice (white) (1kg)

$3.63 ISK 444

Eggs

$6.51 ISK 797

Local Cheese (1kg)

$18.39 ISK 2,251

Chicken Fillets (1kg)

$24.53 ISK 3,004

Beef Round Steak (1kg)

$43.02 ISK 5,268

Apples (1kg)

$3.26 ISK 399

Banana (1kg)

$2.42 ISK 296

Oranges (1kg)

$3.04 ISK 372

Tomato (1kg)

$5.08 ISK 622

Potato (1kg)

$3.57 ISK 437

Onion (1kg)

$2.40 ISK 294

Lettuce (1 head)

$3.10 ISK 379

Water (1.5 liter bottle)

$2.00 ISK 245

Cigarettes 20 Pack (Marlboro, Camel)

$13.44 ISK 1,646

Wine (Bottle)

$23.20 ISK 2,841

Local Beer (0.5 liter bottle)

$3.73 ISK 456

Imported Beer (0.33 liter bottle)

$3.37 ISK 412

One-way Ticket (Public Transport)

$5.34 ISK 653

Public Transport Monthly Pass (Regular Price)

$87.5 ISK 10.7K

Taxi Start (Normal Tariff)

$6.27 ISK 768

Taxi (Normal Tariff) (1km)

$2.56 ISK 313

Taxi 1hour Waiting (Normal Tariff)

$87.5 ISK 10.7K

Gasoline (1 liter)

$2.48 ISK 303

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

$47.6K ISK 5.8M

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

$51.8K ISK 6.3M

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

$88.4 ISK 10.8K

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

$27.80 ISK 3,404

Internet (50+ Mbps, Unlimited Data)

$85.6 ISK 10.5K

Gym Membership (Monthly)

$83.2 ISK 10.2K

Tennis Court (1 Hour on Weekend)

$37.45 ISK 4,586

Cinema Ticket

$17.88 ISK 2,190

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

$322 ISK 39.5K

International Primary School, 1 Child (Yearly)

$30.5K ISK 3.7M

Jeans (Levis 501 Or Similar)

$141 ISK 17.2K

Summer Dress (H&M, Zara, etc)

$62.2 ISK 7,611

Sport Shoes (Adidas, Nike)

$179 ISK 22.0K

Men's Leather Business Shoes

$261 ISK 31.9K

1-bedroom Apartment, City Center (Monthly)

$2,244 ISK 274.8K

1-bedroom Apartment, Outside City Center (Monthly)

$2,065 ISK 252.8K

3-bedroom Apartment, City Center (Monthly)

$3,173 ISK 388.5K

3-bedroom Apartment, Outside City Center (Monthly)

$2,734 ISK 334.8K

Buy Apartment in City Center (m2)

$7,787 ISK 953.4K

Buy Apartment Outside City Center (m2)

$6,505 ISK 796.5K

Average Monthly Net Salary (After Tax)

$4,496 ISK 550.5K

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: April 26, 2026

Last update for Isafjordur: April 25, 2026

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 Isafjordur: Cost of Living - Frequently Asked Questions

For families, Isafjordur is more practical. Housing and childcare are both notably cheaper than in Reykjavik, and the savings on those two alone free up budget for education, activities, and family trips.

Safety-wise, Reykjavik and Isafjordur are on par. Petty crime is typical for cities this size, and most residents feel comfortable going about their daily routines in either place.

It comes down to priorities – Isafjordur wins on affordability, Reykjavik on earning potential. Factor in climate, language, visa rules, and proximity to places that matter to you before deciding.