Last update: Oct 2026

Cost of Living Comparison Between Reykjavik and Paget Parish

For one person, living is cheaper in Reykjavik: $4,037 a month against $5,464 in Paget Parish, rent and utilities included – about $17,100 less a year. Rent and utilities account for most of the difference.

193

Cost of Living Index in Reykjavik
Learn more

Reykjavik Living Index
264

Cost of Living Index in Paget Parish
Learn more

Paget Parish Living Index

Jump to prices

Reykjavik

🇮🇸 Iceland

$4,037

/mo nomad

Paget Parish

🇧🇲 Bermuda

$5,464

/mo nomad

Monthly Cost of Living

How much you'll spend in Reykjavik and in Paget Parish

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

Monthly costs for one person with rent: $4,037 in Reykjavik versus $5,464 in Paget Parish.

Reykjavik $4,037
Paget Parish $5,464

Estimated couple costs with rent: $5,666 in Reykjavik versus $9,812 in Paget Parish.

Reykjavik $5,666
Paget Parish $9,812

Monthly costs for a family of three with rent: $7,295 in Reykjavik versus $14.2K in Paget Parish.

Reykjavik $7,295
Paget Parish $14.2K

Living in Reykjavik costs roughly 26% less than in Paget Parish, and outside of rent the biggest gap is in utilities.

Both cities are pricier than the global median: Reykjavik 201% above, Paget Parish 308% above.

Meal at Budget Restaurant

$30.59 ISK 3,730

$50.3 BMD 50.3

-39.21%

Three-Course Dinner for Two, Mid-Range

$136 ISK 16.5K

$150 BMD 150

-9.60%

Fast Food Meal (McDonalds, etc)

$27.08 ISK 3,302

$16.90 BMD 16.90

60.24%

Cappuccino

$6.72 ISK 819

$6.31 BMD 6.31

6.50%

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

$3.27 ISK 399

$3.09 BMD 3.09

5.83%

Water (0.33 liter bottle)

$3.16 ISK 386

$3.16 BMD 3.16

Local Beer (0.5 liter draught)

$13.91 ISK 1,696

$7.57 BMD 7.57

83.75%

Imported Beer (0.33 liter bottle)

$12.06 ISK 1,470

$8.83 BMD 8.83

36.58%

Milk (1 liter)

$2.04 ISK 248

$5.01 BMD 5.01

-59.28%

White Bread (500g)

$4.32 ISK 527

$8.07 BMD 8.07

-46.47%

Rice (white) (1kg)

$3.67 ISK 447

$5.68 BMD 5.68

-35.39%

Eggs

$7.02 ISK 856

$5.84 BMD 5.84

20.21%

Local Cheese (1kg)

$22.01 ISK 2,684

$21.96 BMD 21.96

0.23%

Chicken Fillets (1kg)

$24.70 ISK 3,012

$17.34 BMD 17.34

42.45%

Beef Round Steak (1kg)

$42.66 ISK 5,202

$19.87 BMD 19.87

114.70%

Apples (1kg)

$3.37 ISK 412

$8.81 BMD 8.81

-61.75%

Banana (1kg)

$2.85 ISK 347

$6.48 BMD 6.48

-56.02%

Oranges (1kg)

$3.17 ISK 387

$7.24 BMD 7.24

-56.22%

Tomato (1kg)

$6.39 ISK 779

$8.36 BMD 8.36

-23.56%

Potato (1kg)

$4.01 ISK 489

$5.53 BMD 5.53

-27.49%

Onion (1kg)

$1.64 ISK 200

$4.09 BMD 4.09

-59.90%

Lettuce (1 head)

$3.80 ISK 463

$6.33 BMD 6.33

-39.97%

Water (1.5 liter bottle)

$1.74 ISK 212

$3.45 BMD 3.45

-49.57%

Cigarettes 20 Pack (Marlboro, Camel)

$13.80 ISK 1,682

$18.05 BMD 18.05

-23.55%

Wine (Bottle)

$23.38 ISK 2,851

$23.81 BMD 23.81

-1.81%

Local Beer (0.5 liter bottle)

$3.53 ISK 430

$5.35 BMD 5.35

-34.02%

Imported Beer (0.33 liter bottle)

$3.45 ISK 420

$4.17 BMD 4.17

-17.27%

One-way Ticket (Public Transport)

$5.77 ISK 704

$4.48 BMD 4.48

28.79%

Public Transport Monthly Pass (Regular Price)

$95.1 ISK 11.6K

Taxi Start (Normal Tariff)

$6.63 ISK 808

$6.37 BMD 6.37

4.08%

Taxi (Normal Tariff) (1km)

$2.79 ISK 341

$3.05 BMD 3.05

-8.52%

Taxi 1hour Waiting (Normal Tariff)

$81.4 ISK 9,923

$68.7 BMD 68.7

18.44%

Gasoline (1 liter)

$2.11 ISK 257

$2.22 BMD 2.22

-4.95%

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

$50.8K ISK 6.2M

$20.4K BMD 20.4K

149.63%

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

$52.7K ISK 6.4M

$35.7K BMD 35.7K

47.74%

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

$88.7 ISK 10.8K

$284 BMD 284

-68.76%

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

$31.53 ISK 3,845

$149 BMD 149

-78.77%

Internet (50+ Mbps, Unlimited Data)

$84.6 ISK 10.3K

$122 BMD 122

-30.70%

Gym Membership (Monthly)

$100 ISK 12.2K

$201 BMD 201

-50.08%

Tennis Court (1 Hour on Weekend)

$48.20 ISK 5,877

Cinema Ticket

$19.87 ISK 2,424

$13.48 BMD 13.48

47.40%

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

$1,277 ISK 155.8K

$1,321 BMD 1,321

-3.33%

International Primary School, 1 Child (Yearly)

$31.0K ISK 3.8M

$25.3K BMD 25.3K

22.53%

Jeans (Levis 501 Or Similar)

$161 ISK 19.6K

$90.3 BMD 90.3

78.24%

Summer Dress (H&M, Zara, etc)

$64.9 ISK 7,914

$70.8 BMD 70.8

-8.36%

Sport Shoes (Adidas, Nike)

$183 ISK 22.3K

$144 BMD 144

27.05%

Men's Leather Business Shoes

$254 ISK 31.0K

$129 BMD 129

96.40%

1-bedroom Apartment, City Center (Monthly)

$2,499 ISK 304.8K

$4,039 BMD 4,039

-38.12%

1-bedroom Apartment, Outside City Center (Monthly)

$2,000 ISK 243.9K

$3,082 BMD 3,082

-35.11%

3-bedroom Apartment, City Center (Monthly)

$3,452 ISK 421.0K

$8,371 BMD 8,371

-58.77%

3-bedroom Apartment, Outside City Center (Monthly)

$2,742 ISK 334.4K

$8,899 BMD 8,899

-69.18%

Buy Apartment in City Center (m2)

$8,001 ISK 975.7K

Buy Apartment Outside City Center (m2)

$6,249 ISK 762.1K

$6,015 BMD 6,015

3.89%

Average Monthly Net Salary (After Tax)

$4,691 ISK 572.0K

$4,028 BMD 4,028

16.46%

20-Year Fixed Mortgage Interest Rate (Annual %)

8.81

8.63

2.09%

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

Last update for Reykjavik: October 4, 2026

Last update for Paget Parish: October 4, 2026

Monthly budget structure

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

Accommodation & Living

Reykjavik

$2K 50.9%

Paget Parish

$3.1K 56.8% 54.1% $1.1K

Groceries & Markets

Reykjavik

$625 15.9%

Paget Parish

$717 13.2% 14.7% $92

Eating Out

Reykjavik

$526 13.4%

Paget Parish

$610 11.2% 15.9% $84

Clothing & Footwear

Reykjavik

$298 7.6%

Paget Parish

$195 3.6% 34.5% $103

Monthly Utilities & Internet

Reykjavik

$205 5.2%

Paget Parish

$554 10.2% 171% $350

Sport & Entertainment

Reykjavik

$140 3.6%

Paget Parish

$228 4.2% 62.7% $88

Getting Around

Reykjavik

$139 3.5%

Paget Parish

$40 * 0.7% 71.5% $99

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

Cost Breakdown

A one-bedroom apartment in the center runs $2,499 in Reykjavik and $4,039 in Paget Parish. Housing cost is often the main lever when comparing two cities.

Reykjavik pays 16% more on average while also being the cheaper of the two. The combined effect is a noticeably stronger local purchasing power.

Dining out: $136 in Reykjavik vs $150 in Paget Parish for a mid-range dinner for two. Groceries echo the gap at $625 vs $717 per month, with Reykjavik cheaper across the board.

Good to know

🇮🇸 Reykjavik

🇧🇲 Paget Parish

🕒 Local time

11:52 11:52 AM

08:52 8:52 AM

3 h behind Reykjavik

🌤 Weather

👥 Population

136,894 Capital

5,702

💱 Currency

Icelandic Króna ISK kr

Bermudian Dollar BMD $

📈 Exchange rate

1,000 ISK = 8.2 USD

1,000 ISK = 7.32 EUR

1 BMD = 1 USD

1 BMD = 0.892 EUR

Exchange rates and currency converter

BMD, USD, EUR to ISK – Icelandic Króna Converter

🇺🇸 United States Dollar ($)

🇮🇸 Icelandic Króna (kr)

Icelandic Króna exchange rates as of October 10, 2026: 1 USD = 122 ISK (1,000 ISK = 8.2 USD). 1 EUR = 137 ISK (1,000 ISK = 7.32 EUR).

Bermudian Dollar exchange rates as of October 10, 2026: 1 USD = 1 BMD (1 BMD = 1 USD). 1 EUR = 1.12 BMD (1 BMD = 0.892 EUR).

USD to ISK in detail →

On the map

Lowest

Highest

Between locations

Reykjavik Paget Parish 4,600 km ≈ 6 h nonstop flight

From you

Reykjavik
Paget Parish

Distances are measured in a straight line. Your location is detected approximately.

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 Paget Parish: Cost of Living - Frequently Asked Questions

Reykjavik and Paget Parish differ by about 35% in total monthly costs ($4,037 vs $5,464 including rent). Reykjavik is meaningfully more affordable – a gap that matters a lot on a fixed or modest income.

Average pay runs 16% higher in Reykjavik, which matters when comparing affordability. Whether that higher income actually nets you more depends on your spending habits and housing choices.

Rent for a central apartment: $2,499 in Reykjavik versus $4,039 in Paget Parish. Housing is usually the single largest factor when comparing overall living costs between the two.

Childcare runs $1,277 in Reykjavik versus $1,321 in Paget Parish. Over years of preschool, even a modest monthly gap compounds into a major financial factor for families.

Dining out is cheaper in Reykjavik – a meal for two runs $136 versus $150 in Paget Parish. If you eat out regularly, this makes a real dent in your monthly spending.

Both cities are expensive relative to $3,000. Reykjavik 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 Paget Parish 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 Reykjavik gentler on the wallet – expenses run 35% less than in Paget Parish. Beyond cost, consider language, visa policies, and how big the international community is in each city.