Last update: Nov 2026

Cost of Living Comparison Between Reykjavik and Njardvik

For one person, living is cheaper in Njardvik: $3,133 a month against $4,031 in Reykjavik, rent and utilities included – about $10,800 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
151

Cost of Living Index in Njardvik
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Njardvik Living Index

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Reykjavik

🇮🇸 Iceland

$4,031

/mo nomad

Njardvik

🇮🇸 Iceland

$3,133

/mo nomad

Monthly Cost of Living

How much you'll spend in Reykjavik and in Njardvik

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

Monthly costs for one person with rent: $4,031 in Reykjavik versus $3,133 in Njardvik.

Reykjavik $4,031
Njardvik $3,133

Estimated couple costs with rent: $5,731 in Reykjavik versus $4,864 in Njardvik.

Reykjavik $5,731
Njardvik $4,864

Monthly costs for a family of three with rent: $7,431 in Reykjavik versus $6,596 in Njardvik.

Reykjavik $7,431
Njardvik $6,596

Living in Reykjavik is roughly 29% more expensive than in Njardvik, and outside of rent the biggest gap is in transport.

Both cities are pricier than the global median: Reykjavik 198% above, Njardvik 132% above.

Meal at Budget Restaurant

$30.60 ISK 3,718

$24.20 ISK 2,940

26.45%

Three-Course Dinner for Two, Mid-Range

$122 ISK 14.9K

$98.4 ISK 12.0K

24.34%

Fast Food Meal (McDonalds, etc)

$27.27 ISK 3,313

$16.27 ISK 1,977

67.61%

Cappuccino

$6.90 ISK 838

$6.46 ISK 784

6.81%

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

$3.39 ISK 412

$1.61 ISK 195

110.56%

Water (0.33 liter bottle)

$3.18 ISK 387

$2.41 ISK 292

31.95%

Local Beer (0.5 liter draught)

$14.10 ISK 1,713

$10.53 ISK 1,280

33.90%

Imported Beer (0.33 liter bottle)

$12.44 ISK 1,511

$12.43 ISK 1,510

0.08%

Milk (1 liter)

$2.05 ISK 249

$2.12 ISK 258

-3.30%

White Bread (500g)

$4.36 ISK 529

$4.24 ISK 515

2.83%

Rice (white) (1kg)

$3.62 ISK 440

$3.64 ISK 443

-0.55%

Eggs

$7.06 ISK 857

$7.20 ISK 875

-1.94%

Local Cheese (1kg)

$21.58 ISK 2,622

$21.85 ISK 2,655

-1.24%

Chicken Fillets (1kg)

$24.14 ISK 2,933

$24.79 ISK 3,012

-2.62%

Beef Round Steak (1kg)

$41.47 ISK 5,039

$41.37 ISK 5,027

0.24%

Apples (1kg)

$3.06 ISK 371

$3.40 ISK 413

-10.00%

Banana (1kg)

$2.81 ISK 342

$2.85 ISK 347

-1.40%

Oranges (1kg)

$3.15 ISK 383

$3.13 ISK 381

0.64%

Tomato (1kg)

$6.41 ISK 779

$6.54 ISK 795

-1.99%

Potato (1kg)

$3.98 ISK 484

$3.95 ISK 480

0.76%

Onion (1kg)

$1.65 ISK 200

$1.68 ISK 205

-1.79%

Lettuce (1 head)

$3.73 ISK 453

$3.75 ISK 456

-0.53%

Water (1.5 liter bottle)

$1.75 ISK 213

$1.84 ISK 224

-4.89%

Cigarettes 20 Pack (Marlboro, Camel)

$13.94 ISK 1,694

$13.70 ISK 1,665

1.75%

Wine (Bottle)

$23.99 ISK 2,915

$23.83 ISK 2,896

0.67%

Local Beer (0.5 liter bottle)

$3.67 ISK 446

$3.61 ISK 439

1.66%

Imported Beer (0.33 liter bottle)

$3.46 ISK 421

$3.35 ISK 407

3.28%

One-way Ticket (Public Transport)

$5.75 ISK 699

Public Transport Monthly Pass (Regular Price)

$95.5 ISK 11.6K

Taxi Start (Normal Tariff)

$7.15 ISK 868

$6.57 ISK 799

8.83%

Taxi (Normal Tariff) (1km)

$3.69 ISK 448

$2.87 ISK 349

28.57%

Taxi 1hour Waiting (Normal Tariff)

$97.7 ISK 11.9K

$81.0 ISK 9,846

20.58%

Gasoline (1 liter)

$2.00 ISK 243

$2.05 ISK 249

-2.44%

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

$68.0K ISK 8.3M

$67.8K ISK 8.2M

0.30%

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

$55.8K ISK 6.8M

$56.3K ISK 6.8M

-0.84%

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

$96.9 ISK 11.8K

$96.1 ISK 11.7K

0.79%

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

$32.89 ISK 3,996

$32.14 ISK 3,905

2.33%

Internet (50+ Mbps, Unlimited Data)

$89.6 ISK 10.9K

$85.4 ISK 10.4K

4.91%

Gym Membership (Monthly)

$99.0 ISK 12.0K

$80.6 ISK 9,793

22.77%

Tennis Court (1 Hour on Weekend)

$51.0 ISK 6,191

Cinema Ticket

$19.75 ISK 2,400

$19.99 ISK 2,429

-1.20%

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

$1,203 ISK 146.2K

$1,198 ISK 145.5K

0.46%

International Primary School, 1 Child (Yearly)

$18.6K ISK 2.3M

$26.0K ISK 3.2M

-28.55%

Jeans (Levis 501 Or Similar)

$151 ISK 18.3K

$122 ISK 14.8K

24.05%

Summer Dress (H&M, Zara, etc)

$64.9 ISK 7,880

$66.7 ISK 8,106

-2.79%

Sport Shoes (Adidas, Nike)

$183 ISK 22.3K

$183 ISK 22.2K

0.16%

Men's Leather Business Shoes

$255 ISK 31.0K

$247 ISK 30.0K

3.28%

1-bedroom Apartment, City Center (Monthly)

$2,615 ISK 317.7K

1-bedroom Apartment, Outside City Center (Monthly)

$2,086 ISK 253.4K

$1,462 ISK 177.6K

42.67%

3-bedroom Apartment, City Center (Monthly)

$3,535 ISK 429.6K

3-bedroom Apartment, Outside City Center (Monthly)

$2,796 ISK 339.7K

$2,674 ISK 324.9K

4.54%

Buy Apartment in City Center (m2)

$8,182 ISK 994.1K

Buy Apartment Outside City Center (m2)

$6,284 ISK 763.5K

Average Monthly Net Salary (After Tax)

$4,790 ISK 581.9K

$4,080 ISK 495.7K

17.40%

20-Year Fixed Mortgage Interest Rate (Annual %)

8.81

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

Last update for Reykjavik: November 1, 2026

Last update for Njardvik: November 1, 2026

Monthly budget structure

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

Accommodation & Living

Reykjavik

$2.1K 51.7%

Njardvik

$1.5K 46.7% 29.9% $624

Groceries & Markets

Reykjavik

$618 15.3%

Njardvik

$625 19.9% 1.1% $6.9

Eating Out

Reykjavik

$531 13.2%

Njardvik

$413 13.2% 22.1% $118

Clothing & Footwear

Reykjavik

$294 7.3%

Njardvik

$278 8.9% 5.5% $16

Monthly Utilities & Internet

Reykjavik

$219 5.4%

Njardvik

$214 6.8% 2.6% $5.7

Getting Around

Reykjavik

$144 3.6%

Njardvik

$21 * 0.7% 85.5% $123

Sport & Entertainment

Reykjavik

$138 3.4%

Njardvik

$121 3.9% 12.9% $18

Categories marked with * are only partly priced – their share counts the items that do have prices.

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: $122 in Reykjavik vs $98 in Njardvik. Groceries flip the comparison at $618 vs $625, with Reykjavik cheaper for home cooking.

Good to know

🇮🇸 Reykjavik

🇮🇸 Njardvik

🕒 Local time

00:09 12:09 AM

Same time as Reykjavik

🌤 Weather

👥 Population

136,894 Capital

6,000

💱 Currency

Icelandic Króna ISK kr

📈 Exchange rate

1,000 ISK = 8.23 USD

1,000 ISK = 7.31 EUR

1,000 ISK = 8.23 USD

1,000 ISK = 7.31 EUR

Exchange rates and currency converter

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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 about 22% cheaper overall, especially in transport, eating out, and leisure. That difference 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.

Dining out is cheaper in Njardvik – a meal for two runs $98 versus $122 in Reykjavik. If you eat out regularly, this makes a real dent in your monthly spending.

Childcare runs $1,203 in Reykjavik versus $1,198 in Njardvik. Over years of preschool, even a modest monthly gap compounds into a major financial factor for families.

Both cities are expensive relative to $2,500. Njardvik is the more realistic option, but even there you’ll need to be disciplined with housing, food, and fun money.

Both cities offer a good standard of living with different trade-offs. Neither is objectively better – the right pick depends on what matters most: affordability, career, cultural scene, or climate.

Safety-wise, Reykjavik and Njardvik are both considered safe, so it’s unlikely to be the deciding factor between them.

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