Cost of Living Comparison Between Reykjavik and Selfoss Cost of Living Comparison Between Reykjavik and Selfoss

Monthly Cost of Living

A single person spends $3,869 per month in Reykjavik vs $3,559 in Selfoss, rent included.

A couple spends around $5,475 per month in Reykjavik vs $2,492 in Selfoss, rent included.

A family of three spends $7,081 per month in Reykjavik vs $1,424 in Selfoss, rent included.

Reykjavik costs about 9% more than Selfoss, driven mainly by Eating Out.

Both Reykjavik and Selfoss sit above the global median – Reykjavik by 190%, Selfoss by 166%.

Meal at Budget Restaurant

$27.43 ISK 3,418

Three-Course Dinner for Two, Mid-Range

$142 ISK 17.7K

Fast Food Meal (McDonalds, etc)

$22.54 ISK 2,809

$19.97 ISK 2,488

12.87%

Cappuccino

$6.05 ISK 754

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

$3.22 ISK 402

Water (0.33 liter bottle)

$2.52 ISK 314

Local Beer (0.5 liter draught)

$12.93 ISK 1,611

$11.83 ISK 1,474

9.30%

Imported Beer (0.33 liter bottle)

$11.39 ISK 1,420

Milk (1 liter)

$1.89 ISK 235

$1.69 ISK 210

11.83%

White Bread (500g)

$4.19 ISK 522

$7.51 ISK 936

-44.21%

Rice (white) (1kg)

$3.54 ISK 441

$4.32 ISK 538

-18.06%

Eggs

$6.31 ISK 786

$6.46 ISK 806

-2.32%

Local Cheese (1kg)

$18.00 ISK 2,243

$16.56 ISK 2,064

8.70%

Chicken Fillets (1kg)

$24.46 ISK 3,048

$20.80 ISK 2,591

17.60%

Beef Round Steak (1kg)

$41.94 ISK 5,226

$33.49 ISK 4,173

25.23%

Apples (1kg)

$3.33 ISK 415

$2.63 ISK 328

26.62%

Banana (1kg)

$2.40 ISK 300

$2.55 ISK 317

-5.88%

Oranges (1kg)

$3.03 ISK 377

$2.67 ISK 333

13.48%

Tomato (1kg)

$5.13 ISK 639

$6.98 ISK 870

-26.50%

Potato (1kg)

$3.66 ISK 455

$3.22 ISK 401

13.66%

Onion (1kg)

$2.42 ISK 302

$2.02 ISK 252

19.80%

Lettuce (1 head)

$3.17 ISK 394

$3.51 ISK 438

-9.69%

Water (1.5 liter bottle)

$1.93 ISK 241

$1.38 ISK 172

39.86%

Cigarettes 20 Pack (Marlboro, Camel)

$13.76 ISK 1,714

$14.97 ISK 1,866

-8.08%

Wine (Bottle)

$22.67 ISK 2,825

Local Beer (0.5 liter bottle)

$3.75 ISK 467

Imported Beer (0.33 liter bottle)

$3.26 ISK 406

$1.10 ISK 137

196.36%

One-way Ticket (Public Transport)

$5.30 ISK 661

Public Transport Monthly Pass (Regular Price)

$88.2 ISK 11.0K

Taxi Start (Normal Tariff)

$6.51 ISK 811

Taxi (Normal Tariff) (1km)

$2.57 ISK 321

Taxi 1hour Waiting (Normal Tariff)

$86.4 ISK 10.8K

Gasoline (1 liter)

$2.52 ISK 314

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

$47.7K ISK 5.9M

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

$51.8K ISK 6.5M

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

$87.1 ISK 10.9K

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

$27.13 ISK 3,380

Internet (50+ Mbps, Unlimited Data)

$85.4 ISK 10.6K

Gym Membership (Monthly)

$84.0 ISK 10.5K

Tennis Court (1 Hour on Weekend)

$38.12 ISK 4,750

Cinema Ticket

$17.35 ISK 2,162

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

$319 ISK 39.8K

International Primary School, 1 Child (Yearly)

$30.7K ISK 3.8M

Jeans (Levis 501 Or Similar)

$138 ISK 17.1K

Summer Dress (H&M, Zara, etc)

$62.8 ISK 7,821

Sport Shoes (Adidas, Nike)

$182 ISK 22.7K

Men's Leather Business Shoes

$269 ISK 33.5K

1-bedroom Apartment, City Center (Monthly)

$2,254 ISK 280.8K

1-bedroom Apartment, Outside City Center (Monthly)

$2,008 ISK 250.2K

$2,927 ISK 364.7K

-31.41%

3-bedroom Apartment, City Center (Monthly)

$3,231 ISK 402.6K

3-bedroom Apartment, Outside City Center (Monthly)

$2,756 ISK 343.4K

Buy Apartment in City Center (m2)

$7,955 ISK 991.2K

Buy Apartment Outside City Center (m2)

$6,156 ISK 767.1K

Average Monthly Net Salary (After Tax)

$4,438 ISK 553.0K

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 11, 2026

Last update for Selfoss: July 12, 2026

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 Selfoss: Cost of Living - Frequently Asked Questions

Reykjavik costs about 9% more than Selfoss, with the gap driven mainly by Eating Out. That's enough to noticeably affect everyday spending and lifestyle for anyone choosing between the two.

For a comfortable life, plan on about $5,803 per month in Reykjavik and $5,339 in Selfoss. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Monthly expenses with rent come to $3,869 in Reykjavik and $3,559 in Selfoss. The difference isn't just one category – it shows up across housing, food, transport, and services.

Groceries cost about 16% more in Reykjavik, though it depends on what you buy. Local produce may be comparable; imported and premium items show the biggest price gap.

A $3,000 monthly budget goes further in Selfoss, where all-in costs run around $3,559, than in Reykjavik at $3,869. In Selfoss it covers expenses comfortably, while in Reykjavik it requires careful planning or may not stretch far enough.

For digital nomads, it depends on budget. Selfoss costs $3,559 versus $3,869 in Reykjavik. Both have workable remote work infrastructure, but the cost gap matters when income varies month to month.

Both have safer and rougher neighborhoods, but overall safety is comparable to other large cities. Neighborhood choice matters more than the city-level comparison – central, well-trafficked areas feel secure in both.

If budget matters most, go with Selfoss. If higher salaries, better infrastructure, or specific career opportunities are the priority, Reykjavik makes more sense. Both are solid long-term options with distinct trade-offs.