Last update: Oct 2026

Cost of Living Comparison Between Reykjavik and Pembroke

For one person, living is cheaper in Pembroke: $2,355 a month against $4,037 in Reykjavik, rent and utilities included – about $20,200 less a year. Higher rent and utilities in Reykjavik outweigh lower spending on other living expenses.

193

Cost of Living Index in Reykjavik
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Reykjavik Living Index
115

Cost of Living Index in Pembroke
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Pembroke Living Index

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Reykjavik

🇮🇸 Iceland

$4,037

/mo nomad

Pembroke

🇧🇲 Bermuda

$2,355

/mo nomad

Monthly Cost of Living

How much you'll spend in Reykjavik and in Pembroke

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

Monthly costs for one person with rent: $4,037 in Reykjavik versus $2,355 in Pembroke.

Reykjavik $4,037
Pembroke $2,355

Estimated couple costs with rent: $5,666 in Reykjavik versus $3,881 in Pembroke.

Reykjavik $5,666
Pembroke $3,881

Monthly costs for a family of three with rent: $7,295 in Reykjavik versus $5,406 in Pembroke.

Reykjavik $7,295
Pembroke $5,406

Living in Reykjavik is roughly 71% more expensive than in Pembroke, and outside of rent the biggest gap is in utilities.

Both cities are pricier than the global median: Reykjavik 201% above, Pembroke 76% above.

Meal at Budget Restaurant

$30.59 ISK 3,730

$50.6 BMD 50.6

-39.51%

Three-Course Dinner for Two, Mid-Range

$136 ISK 16.5K

$151 BMD 151

-10.30%

Fast Food Meal (McDonalds, etc)

$27.08 ISK 3,302

$16.82 BMD 16.82

61.00%

Cappuccino

$6.72 ISK 819

$4.45 BMD 4.45

51.01%

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

$3.27 ISK 399

$2.98 BMD 2.98

9.73%

Water (0.33 liter bottle)

$3.16 ISK 386

$3.18 BMD 3.18

-0.63%

Local Beer (0.5 liter draught)

$13.91 ISK 1,696

$7.66 BMD 7.66

81.59%

Imported Beer (0.33 liter bottle)

$12.06 ISK 1,470

$9.09 BMD 9.09

32.67%

Milk (1 liter)

$2.04 ISK 248

$4.82 BMD 4.82

-57.68%

White Bread (500g)

$4.32 ISK 527

$7.95 BMD 7.95

-45.66%

Rice (white) (1kg)

$3.67 ISK 447

$5.57 BMD 5.57

-34.11%

Eggs

$7.02 ISK 856

$7.35 BMD 7.35

-4.49%

Local Cheese (1kg)

$22.01 ISK 2,684

$23.15 BMD 23.15

-4.92%

Chicken Fillets (1kg)

$24.70 ISK 3,012

$21.62 BMD 21.62

14.25%

Beef Round Steak (1kg)

$42.66 ISK 5,202

$19.72 BMD 19.72

116.33%

Apples (1kg)

$3.37 ISK 412

$8.94 BMD 8.94

-62.30%

Banana (1kg)

$2.85 ISK 347

$6.69 BMD 6.69

-57.40%

Oranges (1kg)

$3.17 ISK 387

$7.01 BMD 7.01

-54.78%

Tomato (1kg)

$6.39 ISK 779

$8.56 BMD 8.56

-25.35%

Potato (1kg)

$4.01 ISK 489

$5.81 BMD 5.81

-30.98%

Onion (1kg)

$1.64 ISK 200

$4.12 BMD 4.12

-60.19%

Lettuce (1 head)

$3.80 ISK 463

$6.22 BMD 6.22

-38.91%

Water (1.5 liter bottle)

$1.74 ISK 212

$3.56 BMD 3.56

-51.12%

Cigarettes 20 Pack (Marlboro, Camel)

$13.80 ISK 1,682

$17.84 BMD 17.84

-22.65%

Wine (Bottle)

$23.38 ISK 2,851

$24.41 BMD 24.41

-4.22%

Local Beer (0.5 liter bottle)

$3.53 ISK 430

$5.32 BMD 5.32

-33.65%

Imported Beer (0.33 liter bottle)

$3.45 ISK 420

$4.27 BMD 4.27

-19.20%

One-way Ticket (Public Transport)

$5.77 ISK 704

Public Transport Monthly Pass (Regular Price)

$95.1 ISK 11.6K

$129 BMD 129

-26.12%

Taxi Start (Normal Tariff)

$6.63 ISK 808

$6.69 BMD 6.69

-0.90%

Taxi (Normal Tariff) (1km)

$2.79 ISK 341

$2.43 BMD 2.43

14.81%

Taxi 1hour Waiting (Normal Tariff)

$81.4 ISK 9,923

$69.1 BMD 69.1

17.74%

Gasoline (1 liter)

$2.11 ISK 257

$2.42 BMD 2.42

-12.81%

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

$50.8K ISK 6.2M

$36.8K BMD 36.8K

38.10%

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

$52.7K ISK 6.4M

$43.5K BMD 43.5K

21.18%

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

$88.7 ISK 10.8K

$286 BMD 286

-68.96%

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

$31.53 ISK 3,845

$151 BMD 151

-79.05%

Internet (50+ Mbps, Unlimited Data)

$84.6 ISK 10.3K

$161 BMD 161

-47.36%

Gym Membership (Monthly)

$100 ISK 12.2K

$80.2 BMD 80.2

25.15%

Tennis Court (1 Hour on Weekend)

$48.20 ISK 5,877

Cinema Ticket

$19.87 ISK 2,424

$13.32 BMD 13.32

49.17%

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

$1,277 ISK 155.8K

$1,324 BMD 1,324

-3.54%

International Primary School, 1 Child (Yearly)

$31.0K ISK 3.8M

$24.7K BMD 24.7K

25.43%

Jeans (Levis 501 Or Similar)

$161 ISK 19.6K

$90.5 BMD 90.5

77.77%

Summer Dress (H&M, Zara, etc)

$64.9 ISK 7,914

$71.2 BMD 71.2

-8.80%

Sport Shoes (Adidas, Nike)

$183 ISK 22.3K

$141 BMD 141

29.87%

Men's Leather Business Shoes

$254 ISK 31.0K

$128 BMD 128

98.44%

1-bedroom Apartment, City Center (Monthly)

$2,499 ISK 304.8K

$3,765 BMD 3,765

-33.61%

1-bedroom Apartment, Outside City Center (Monthly)

$2,000 ISK 243.9K

3-bedroom Apartment, City Center (Monthly)

$3,452 ISK 421.0K

3-bedroom Apartment, Outside City Center (Monthly)

$2,742 ISK 334.4K

Buy Apartment in City Center (m2)

$8,001 ISK 975.7K

Buy Apartment Outside City Center (m2)

$6,249 ISK 762.1K

Average Monthly Net Salary (After Tax)

$4,691 ISK 572.0K

$7,935 BMD 7,935

-40.88%

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 Pembroke: October 5, 2026

Monthly budget structure

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

Accommodation & Living

Reykjavik

$2K 50.9%

Pembroke

- * 0% 100%

Groceries & Markets

Reykjavik

$625 15.9%

Pembroke

$749 31.4% 19.8% $124

Eating Out

Reykjavik

$526 13.4%

Pembroke

$590 24.7% 12.1% $64

Clothing & Footwear

Reykjavik

$298 7.6%

Pembroke

$194 8.1% 35% $104

Monthly Utilities & Internet

Reykjavik

$205 5.2%

Pembroke

$597 25% 191% $392

Sport & Entertainment

Reykjavik

$140 3.6%

Pembroke

$107 4.5% 23.7% $33

Getting Around

Reykjavik

$139 3.5%

Pembroke

$148 * 6.2% 6.3% $8.8

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 $3,765 in Pembroke. Housing cost is often the main lever when comparing two cities.

Pembroke pays 69% 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 $151 in Pembroke for a mid-range dinner for two. Groceries echo the gap at $625 vs $749 per month, with Reykjavik cheaper across the board.

Good to know

🇮🇸 Reykjavik

🇧🇲 Pembroke

🕒 Local time

08:43 8:43 AM

05:43 5:43 AM

3 h behind Reykjavik

🌤 Weather

👥 Population

136,894 Capital

11,160

💱 Currency

Icelandic Króna ISK kr

Bermudian Dollar BMD $

📈 Exchange rate

1,000 ISK = 8.2 USD

1,000 ISK = 7.31 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 = 7.31 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

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Highest

Between locations

Reykjavik Pembroke 4,590 km ≈ 6 h nonstop flight

From you

Reykjavik
Pembroke

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 Pembroke: Cost of Living - Frequently Asked Questions

Pembroke wins on cost – living expenses run 71% lower than in Reykjavik. Housing and daily spending are where you'll feel the difference most, making Pembroke the obvious pick if budget is a priority.

On paper, salaries run 69% lower in Pembroke. That's worth factoring in alongside costs, though remote workers earning in a stronger currency may not notice the difference at all.

Rent for a central apartment: $2,499 in Reykjavik versus $3,765 in Pembroke. Housing is usually the single largest factor when comparing overall living costs between the two.

Childcare runs $1,277 in Reykjavik versus $1,324 in Pembroke. Over years of preschool, even a modest monthly gap compounds into a major financial factor for families.

Shoppers in Reykjavik pay roughly 20% less for everyday groceries. It's an unusual reversal that partly offsets higher costs elsewhere.

Both cities are expensive relative to $2,000. Pembroke is the more realistic option, but even there you'll need to be disciplined with housing, food, and fun money.

Both work as nomad bases, but Pembroke delivers better value – similar infrastructure at $2,355 monthly. If stretching your runway or maximizing savings is the goal, the price difference makes Pembroke hard to pass up.

Safety-wise, Reykjavik and Pembroke 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 Pembroke gentler on the wallet – expenses run 71% less than in Reykjavik. Beyond cost, consider language, visa policies, and how big the international community is in each city.