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

Monthly Cost of Living

A single person spends $3,883 per month in Reykjavik vs $3,570 in Selfoss, rent included.

A couple spends around $5,535 per month in Reykjavik vs $2,495 in Selfoss, rent included.

A family of three spends $7,188 per month in Reykjavik vs $1,420 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

$27.17 ISK 3,346

Three-Course Dinner for Two, Mid-Range

$144 ISK 17.7K

Fast Food Meal (McDonalds, etc)

$22.42 ISK 2,761

$20.29 ISK 2,498

10.50%

Cappuccino

$6.19 ISK 763

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

$3.28 ISK 405

Water (0.33 liter bottle)

$2.53 ISK 311

Local Beer (0.5 liter draught)

$13.11 ISK 1,615

$11.95 ISK 1,471

9.71%

Imported Beer (0.33 liter bottle)

$11.43 ISK 1,408

Milk (1 liter)

$1.94 ISK 239

$1.72 ISK 212

12.79%

White Bread (500g)

$4.29 ISK 528

$7.35 ISK 906

-41.63%

Rice (white) (1kg)

$3.72 ISK 458

$4.47 ISK 550

-16.78%

Eggs

$6.53 ISK 804

$6.25 ISK 769

4.48%

Local Cheese (1kg)

$17.88 ISK 2,202

$16.79 ISK 2,067

6.49%

Chicken Fillets (1kg)

$24.10 ISK 2,968

$21.12 ISK 2,601

14.11%

Beef Round Steak (1kg)

$42.88 ISK 5,281

$32.72 ISK 4,029

31.05%

Apples (1kg)

$3.35 ISK 412

$2.77 ISK 342

20.94%

Banana (1kg)

$2.51 ISK 309

$2.57 ISK 317

-2.33%

Oranges (1kg)

$3.13 ISK 385

$2.72 ISK 335

15.07%

Tomato (1kg)

$4.89 ISK 602

$7.27 ISK 895

-32.74%

Potato (1kg)

$3.71 ISK 457

$3.04 ISK 374

22.04%

Onion (1kg)

$2.32 ISK 285

$2.03 ISK 250

14.29%

Lettuce (1 head)

$3.07 ISK 378

$3.43 ISK 422

-10.50%

Water (1.5 liter bottle)

$1.99 ISK 246

$1.38 ISK 170

44.20%

Cigarettes 20 Pack (Marlboro, Camel)

$13.85 ISK 1,705

$15.40 ISK 1,896

-10.06%

Wine (Bottle)

$23.47 ISK 2,891

Local Beer (0.5 liter bottle)

$3.62 ISK 446

Imported Beer (0.33 liter bottle)

$3.38 ISK 416

$1.13 ISK 139

199.12%

One-way Ticket (Public Transport)

$5.10 ISK 628

Public Transport Monthly Pass (Regular Price)

$85.4 ISK 10.5K

Taxi Start (Normal Tariff)

$6.28 ISK 773

Taxi (Normal Tariff) (1km)

$2.57 ISK 317

Taxi 1hour Waiting (Normal Tariff)

$85.8 ISK 10.6K

Gasoline (1 liter)

$2.52 ISK 310

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

$47.2K ISK 5.8M

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

$51.8K ISK 6.4M

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

$86.9 ISK 10.7K

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

$26.94 ISK 3,317

Internet (50+ Mbps, Unlimited Data)

$85.9 ISK 10.6K

Gym Membership (Monthly)

$83.4 ISK 10.3K

Tennis Court (1 Hour on Weekend)

$37.54 ISK 4,623

Cinema Ticket

$17.53 ISK 2,159

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

$321 ISK 39.5K

International Primary School, 1 Child (Yearly)

$30.2K ISK 3.7M

Jeans (Levis 501 Or Similar)

$140 ISK 17.2K

Summer Dress (H&M, Zara, etc)

$60.6 ISK 7,456

Sport Shoes (Adidas, Nike)

$181 ISK 22.3K

Men's Leather Business Shoes

$263 ISK 32.4K

1-bedroom Apartment, City Center (Monthly)

$2,175 ISK 267.8K

1-bedroom Apartment, Outside City Center (Monthly)

$2,023 ISK 249.2K

$2,924 ISK 360.1K

-30.81%

3-bedroom Apartment, City Center (Monthly)

$3,139 ISK 386.6K

3-bedroom Apartment, Outside City Center (Monthly)

$2,738 ISK 337.1K

Buy Apartment in City Center (m2)

$8,022 ISK 987.9K

Buy Apartment Outside City Center (m2)

$6,223 ISK 766.3K

Average Monthly Net Salary (After Tax)

$4,441 ISK 546.9K

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: May 30, 2026

Last update for Selfoss: May 30, 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 $5,824 per month in Reykjavik and $5,355 in Selfoss. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Monthly expenses with rent come to $3,883 in Reykjavik and $3,570 in Selfoss. The difference isn't just one category – it shows up across housing, food, transport, and services.

Groceries cost about 17% 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 $3,570, than in Reykjavik at $3,883. 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 $3,570 versus $3,883 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.