Cost of Living Comparison Between Reykjavik and Phuket Cost of Living Comparison Between Reykjavik and Phuket

Monthly Cost of Living

Monthly costs for one person with rent: $4,048 in Reykjavik versus $1,253 in Phuket.

Estimated couple costs with rent: $5,736 in Reykjavik versus $2,043 in Phuket.

Monthly costs for a family of three with rent: $7,424 in Reykjavik versus $2,833 in Phuket.

Living in Reykjavik is roughly 223% more expensive than in Phuket, driven mainly by Eating Out.

The two cities straddle the global median: Reykjavik is 195% above, Phuket is 9% below.

Meal at Budget Restaurant

$30.26 ISK 3,667

$4.56 ฿151

563.60%

Three-Course Dinner for Two, Mid-Range

$135 ISK 16.4K

$32.62 ฿1,082

315.30%

Fast Food Meal (McDonalds, etc)

$26.29 ISK 3,186

$8.90 ฿295

195.39%

Cappuccino

$6.95 ISK 842

$2.80 ฿93.0

148.21%

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

$3.30 ISK 400

$0.88 ฿29.19

275.00%

Water (0.33 liter bottle)

$3.35 ISK 406

$0.49 ฿16.23

583.67%

Local Beer (0.5 liter draught)

$14.06 ISK 1,704

$2.39 ฿79.2

488.28%

Imported Beer (0.33 liter bottle)

$12.60 ISK 1,527

$3.71 ฿123

239.62%

Milk (1 liter)

$2.10 ISK 254

$1.79 ฿59.3

17.32%

White Bread (500g)

$4.47 ISK 542

$1.44 ฿47.81

210.42%

Rice (white) (1kg)

$3.59 ISK 436

$1.58 ฿52.6

127.22%

Eggs

$7.13 ISK 865

$2.13 ฿70.5

234.74%

Local Cheese (1kg)

$21.34 ISK 2,586

$19.92 ฿661

7.13%

Chicken Fillets (1kg)

$24.37 ISK 2,953

$3.43 ฿114

610.50%

Beef Round Steak (1kg)

$42.10 ISK 5,102

$11.33 ฿376

271.58%

Apples (1kg)

$3.35 ISK 406

$2.95 ฿97.8

13.56%

Banana (1kg)

$2.82 ISK 341

$1.72 ฿57.1

63.95%

Oranges (1kg)

$3.21 ISK 389

$2.32 ฿77.1

38.36%

Tomato (1kg)

$6.24 ISK 756

$2.08 ฿69.0

200.00%

Potato (1kg)

$4.01 ISK 487

$1.47 ฿48.77

172.79%

Onion (1kg)

$1.70 ISK 206

$1.36 ฿45.05

25.00%

Lettuce (1 head)

$3.83 ISK 464

$1.10 ฿36.45

248.18%

Water (1.5 liter bottle)

$1.78 ISK 216

$0.57 ฿19.06

212.28%

Cigarettes 20 Pack (Marlboro, Camel)

$13.75 ISK 1,666

$4.27 ฿142

222.01%

Wine (Bottle)

$24.28 ISK 2,942

$18.42 ฿611

31.81%

Local Beer (0.5 liter bottle)

$3.79 ISK 460

$1.87 ฿62.1

102.67%

Imported Beer (0.33 liter bottle)

$3.45 ISK 418

$2.92 ฿96.9

18.15%

One-way Ticket (Public Transport)

$5.81 ISK 704

$2.22 ฿73.6

161.71%

Public Transport Monthly Pass (Regular Price)

$92.7 ISK 11.2K

$22.90 ฿759

304.93%

Taxi Start (Normal Tariff)

$6.84 ISK 829

$3.03 ฿101

125.74%

Taxi (Normal Tariff) (1km)

$2.90 ISK 352

$1.07 ฿35.63

171.03%

Taxi 1hour Waiting (Normal Tariff)

$74.5 ISK 9,033

$3.93 ฿130

1796.69%

Gasoline (1 liter)

$2.00 ISK 242

$1.49 ฿49.49

34.23%

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

$50.6K ISK 6.1M

$27.1K ฿899.8K

86.39%

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

$53.4K ISK 6.5M

$27.5K ฿910.6K

94.61%

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

$89.6 ISK 10.9K

$103 ฿3,410

-12.86%

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

$33.11 ISK 4,013

$10.99 ฿365

201.27%

Internet (50+ Mbps, Unlimited Data)

$85.1 ISK 10.3K

$17.51 ฿581

386.24%

Gym Membership (Monthly)

$99.0 ISK 12.0K

$53.5 ฿1,776

84.91%

Tennis Court (1 Hour on Weekend)

$50.3 ISK 6,100

$11.20 ฿371

349.46%

Cinema Ticket

$19.43 ISK 2,354

$7.48 ฿248

159.76%

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

$1,173 ISK 142.1K

$557 ฿18.5K

110.58%

International Primary School, 1 Child (Yearly)

$31.2K ISK 3.8M

$11.9K ฿393.2K

163.64%

Jeans (Levis 501 Or Similar)

$161 ISK 19.5K

$64.1 ฿2,125

151.16%

Summer Dress (H&M, Zara, etc)

$65.1 ISK 7,890

$29.07 ฿964

123.98%

Sport Shoes (Adidas, Nike)

$183 ISK 22.2K

$96.0 ฿3,183

90.86%

Men's Leather Business Shoes

$249 ISK 30.2K

$90.3 ฿2,997

175.86%

1-bedroom Apartment, City Center (Monthly)

$2,506 ISK 303.7K

$730 ฿24.2K

243.17%

1-bedroom Apartment, Outside City Center (Monthly)

$2,092 ISK 253.5K

$500 ฿16.6K

318.54%

3-bedroom Apartment, City Center (Monthly)

$3,408 ISK 413.0K

$2,090 ฿69.3K

63.04%

3-bedroom Apartment, Outside City Center (Monthly)

$2,752 ISK 333.5K

$1,209 ฿40.1K

127.61%

Buy Apartment in City Center (m2)

$7,972 ISK 966.1K

$3,596 ฿119.3K

121.69%

Buy Apartment Outside City Center (m2)

$6,354 ISK 770.0K

$2,512 ฿83.3K

152.90%

Average Monthly Net Salary (After Tax)

$4,606 ISK 558.1K

$503 ฿16.7K

814.99%

20-Year Fixed Mortgage Interest Rate (Annual %)

8.88

5.57

59.43%

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

Last update for Reykjavik: August 29, 2026

Last update for Phuket: August 31, 2026

Cost Breakdown

A one-bedroom apartment in the center runs $2,506 in Reykjavik and $730 in Phuket. Housing cost is often the main lever when comparing two cities.

Reykjavik pays 815% 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: $135 in Reykjavik vs $33.00 in Phuket for a mid-range dinner for two. Groceries echo the gap at $625 vs $273 per month, with Phuket 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 Phuket: Cost of Living - Frequently Asked Questions

Phuket is cheaper overall, especially in Groceries & Markets, Eating Out, Clothing & Footwear, Sport & Entertainment, Getting Around. The 223% gap adds up to real monthly savings that compound significantly over time.

Average pay runs 815% 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: $2,506 in Reykjavik versus $730 in Phuket. Housing is usually the single largest factor when comparing overall living costs between the two.

Childcare runs $1,173 in Reykjavik versus $557 in Phuket. Over years of preschool, even a modest monthly gap compounds into a major financial factor for families.

Supermarket bills run roughly 129% higher in Reykjavik. For households that cook at home regularly, that difference adds up over a month.

At $1,253 in Phuket versus $4,048 in Reykjavik, a $1,500 budget is realistic in Phuket but tight or insufficient in Reykjavik. The gap between the two cities makes Phuket the clear choice for anyone on this budget.

For families, Phuket 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 Phuket 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 Phuket gentler on the wallet – expenses run 223% less than in Reykjavik. Beyond cost, consider language, visa policies, and how big the international community is in each city.