Cost of Living Comparison Between Reykjavik and Njardvik Cost of Living Comparison Between Reykjavik and Njardvik

Monthly Cost of Living

Monthly costs for one person with rent: $3,849 in Reykjavik versus $3,084 in Njardvik.

Estimated couple costs with rent: $5,457 in Reykjavik versus $4,824 in Njardvik.

Monthly costs for a family of three with rent: $7,065 in Reykjavik versus $6,564 in Njardvik.

Living in Reykjavik is roughly 25% more expensive than in Njardvik, driven mainly by Getting Around.

Both cities are pricier than the global median: Reykjavik 189% above, Njardvik 132% above.

Meal at Budget Restaurant

$26.85 ISK 3,340

$23.99 ISK 2,984

11.92%

Three-Course Dinner for Two, Mid-Range

$142 ISK 17.7K

$97.5 ISK 12.1K

45.78%

Fast Food Meal (McDonalds, etc)

$22.18 ISK 2,759

$16.12 ISK 2,006

37.59%

Cappuccino

$6.17 ISK 768

$6.07 ISK 756

1.65%

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

$3.24 ISK 403

$1.63 ISK 203

98.77%

Water (0.33 liter bottle)

$2.62 ISK 326

$2.43 ISK 303

7.82%

Local Beer (0.5 liter draught)

$12.69 ISK 1,579

$10.60 ISK 1,318

19.72%

Imported Beer (0.33 liter bottle)

$11.39 ISK 1,417

$11.11 ISK 1,382

2.52%

Milk (1 liter)

$1.87 ISK 232

$1.86 ISK 232

0.54%

White Bread (500g)

$4.30 ISK 535

$4.19 ISK 521

2.63%

Rice (white) (1kg)

$3.56 ISK 443

Eggs

$6.28 ISK 782

$6.29 ISK 782

-0.16%

Local Cheese (1kg)

$18.25 ISK 2,270

$18.07 ISK 2,247

1.00%

Chicken Fillets (1kg)

$23.69 ISK 2,947

$23.80 ISK 2,960

-0.46%

Beef Round Steak (1kg)

$42.14 ISK 5,242

$42.65 ISK 5,305

-1.20%

Apples (1kg)

$3.33 ISK 415

$3.30 ISK 411

0.91%

Banana (1kg)

$2.41 ISK 299

Oranges (1kg)

$3.00 ISK 373

$2.96 ISK 368

1.35%

Tomato (1kg)

$5.12 ISK 637

$5.14 ISK 640

-0.39%

Potato (1kg)

$3.58 ISK 445

$3.51 ISK 437

1.99%

Onion (1kg)

$2.36 ISK 294

$2.44 ISK 304

-3.28%

Lettuce (1 head)

$3.14 ISK 390

$3.18 ISK 396

-1.26%

Water (1.5 liter bottle)

$2.03 ISK 252

$1.94 ISK 242

4.64%

Cigarettes 20 Pack (Marlboro, Camel)

$13.89 ISK 1,728

$13.76 ISK 1,712

0.94%

Wine (Bottle)

$23.38 ISK 2,909

$23.07 ISK 2,870

1.34%

Local Beer (0.5 liter bottle)

$3.58 ISK 445

$3.68 ISK 458

-2.72%

Imported Beer (0.33 liter bottle)

$3.21 ISK 400

$3.38 ISK 420

-5.03%

One-way Ticket (Public Transport)

$5.09 ISK 633

Public Transport Monthly Pass (Regular Price)

$86.7 ISK 10.8K

Taxi Start (Normal Tariff)

$6.37 ISK 792

$6.47 ISK 805

-1.55%

Taxi (Normal Tariff) (1km)

$2.56 ISK 318

$2.54 ISK 316

0.79%

Taxi 1hour Waiting (Normal Tariff)

$86.9 ISK 10.8K

$85.6 ISK 10.7K

1.51%

Gasoline (1 liter)

$2.45 ISK 305

$2.56 ISK 319

-4.30%

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

$48.1K ISK 6.0M

$46.9K ISK 5.8M

2.68%

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

$52.6K ISK 6.5M

$52.4K ISK 6.5M

0.23%

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

$87.4 ISK 10.9K

$86.4 ISK 10.7K

1.17%

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

$27.40 ISK 3,408

$27.25 ISK 3,390

0.55%

Internet (50+ Mbps, Unlimited Data)

$86.5 ISK 10.8K

$86.4 ISK 10.8K

0.08%

Gym Membership (Monthly)

$83.6 ISK 10.4K

$79.4 ISK 9,876

5.33%

Tennis Court (1 Hour on Weekend)

$37.79 ISK 4,701

Cinema Ticket

$17.41 ISK 2,166

$17.27 ISK 2,148

0.81%

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

$322 ISK 40.1K

$325 ISK 40.4K

-0.94%

International Primary School, 1 Child (Yearly)

$30.1K ISK 3.7M

$29.8K ISK 3.7M

0.90%

Jeans (Levis 501 Or Similar)

$137 ISK 17.0K

$123 ISK 15.2K

11.49%

Summer Dress (H&M, Zara, etc)

$61.0 ISK 7,584

$61.0 ISK 7,589

-0.07%

Sport Shoes (Adidas, Nike)

$181 ISK 22.6K

$183 ISK 22.8K

-0.94%

Men's Leather Business Shoes

$271 ISK 33.7K

$268 ISK 33.3K

1.12%

1-bedroom Apartment, City Center (Monthly)

$2,228 ISK 277.1K

1-bedroom Apartment, Outside City Center (Monthly)

$2,035 ISK 253.1K

$1,466 ISK 182.3K

38.86%

3-bedroom Apartment, City Center (Monthly)

$3,171 ISK 394.5K

3-bedroom Apartment, Outside City Center (Monthly)

$2,699 ISK 335.7K

$2,609 ISK 324.6K

3.44%

Buy Apartment in City Center (m2)

$7,931 ISK 986.5K

Buy Apartment Outside City Center (m2)

$6,333 ISK 787.8K

Average Monthly Net Salary (After Tax)

$4,563 ISK 567.6K

$3,915 ISK 487.0K

16.56%

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 Njardvik: July 26, 2026

Cost Breakdown

Reykjavik pays 17% more on average. The extra income cushions the higher costs, though housing choices and lifestyle decide how much of the gap is truly closed.

Dining out: $142 in Reykjavik vs $98.0 in Njardvik for a mid-range dinner for two. Groceries echo the gap at $593 vs $592 per month, with Njardvik cheaper across the board.

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 Njardvik: Cost of Living - Frequently Asked Questions

Njardvik is cheaper overall, especially in Groceries & Markets, Eating Out, Clothing & Footwear, Getting Around, Sport & Entertainment. The 25% gap adds up to real monthly savings that compound significantly over time.

Average pay runs 17% higher in Reykjavik, which matters when comparing affordability. Whether that higher income actually nets you more depends on your spending habits and housing choices.

Supermarket bills run roughly 0% higher in Reykjavik. For households that cook at home regularly, that difference adds up over a month.

All in, you'll spend $3,849 per month in Reykjavik versus $3,084 in Njardvik – a 25% gap that adds up to real savings over time for anyone picking the cheaper option.

At $3,084 in Njardvik versus $3,849 in Reykjavik, a $2,500 budget is realistic in Njardvik but tight or insufficient in Reykjavik. The gap between the two cities makes Njardvik the clear choice for anyone on this budget.

For families, Njardvik 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 Njardvik are on par. Petty crime is typical for cities this size, and most residents feel comfortable going about their daily routines in either place.

Expats usually find Njardvik gentler on the wallet – expenses run 25% less than in Reykjavik. Beyond cost, consider language, visa policies, and how big the international community is in each city.