Last update: Oct 2026

Cost of Living Comparison Between Reykjavik and Selfoss

For one person, living is cheaper in Selfoss: $3,423 a month against $4,002 in Reykjavik, rent and utilities included – about $6,900 less a year. The total is higher in Reykjavik despite lower rent and utilities.

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Cost of Living Index in Reykjavik
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Reykjavik Living Index

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Reykjavik

🇮🇸 Iceland

$4,002

/mo nomad

Selfoss

🇮🇸 Iceland

$3,423

/mo nomad

Monthly Cost of Living

How much you'll spend in Reykjavik and in Selfoss

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

A single person spends $4,002 per month in Reykjavik vs $3,423 in Selfoss, rent included.

Reykjavik $4,002
Selfoss $3,423

A couple spends around $5,705 per month in Reykjavik vs $2,440 in Selfoss, rent included.

Reykjavik $5,705
Selfoss $2,440

A family of three spends $7,407 per month in Reykjavik vs $1,458 in Selfoss, rent included.

Reykjavik $7,407
Selfoss $1,458

Reykjavik costs about 17% more than Selfoss, and outside of rent the biggest gap is in eating out.

Both Reykjavik and Selfoss sit above the global median – Reykjavik by 196%, Selfoss by 154%.

Meal at Budget Restaurant

$31.56 ISK 3,828

Three-Course Dinner for Two, Mid-Range

$122 ISK 14.8K

Fast Food Meal (McDonalds, etc)

$26.86 ISK 3,258

$20.48 ISK 2,484

31.15%

Cappuccino

$6.81 ISK 827

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

$3.39 ISK 411

Water (0.33 liter bottle)

$3.20 ISK 388

Local Beer (0.5 liter draught)

$14.14 ISK 1,715

$12.21 ISK 1,481

15.81%

Imported Beer (0.33 liter bottle)

$12.31 ISK 1,493

Milk (1 liter)

$2.10 ISK 255

$1.76 ISK 213

19.32%

White Bread (500g)

$4.19 ISK 508

$7.60 ISK 922

-44.87%

Rice (white) (1kg)

$3.72 ISK 451

$4.49 ISK 544

-17.15%

Eggs

$7.05 ISK 856

$6.43 ISK 780

9.64%

Local Cheese (1kg)

$21.56 ISK 2,615

$17.36 ISK 2,105

24.19%

Chicken Fillets (1kg)

$24.68 ISK 2,993

$21.64 ISK 2,624

14.05%

Beef Round Steak (1kg)

$42.19 ISK 5,117

$33.84 ISK 4,105

24.67%

Apples (1kg)

$3.23 ISK 392

$2.70 ISK 327

19.63%

Banana (1kg)

$2.73 ISK 331

$2.60 ISK 316

5.00%

Oranges (1kg)

$3.17 ISK 384

$2.64 ISK 320

20.08%

Tomato (1kg)

$6.61 ISK 802

$7.07 ISK 857

-6.51%

Potato (1kg)

$3.85 ISK 467

$3.27 ISK 396

17.74%

Onion (1kg)

$1.66 ISK 201

$2.18 ISK 265

-23.85%

Lettuce (1 head)

$3.80 ISK 461

$3.58 ISK 435

6.15%

Water (1.5 liter bottle)

$1.75 ISK 212

$1.37 ISK 166

27.74%

Cigarettes 20 Pack (Marlboro, Camel)

$13.71 ISK 1,662

$15.69 ISK 1,903

-12.62%

Wine (Bottle)

$24.21 ISK 2,937

Local Beer (0.5 liter bottle)

$3.53 ISK 428

Imported Beer (0.33 liter bottle)

$3.32 ISK 402

$1.16 ISK 141

186.21%

One-way Ticket (Public Transport)

$5.75 ISK 697

Public Transport Monthly Pass (Regular Price)

$93.8 ISK 11.4K

Taxi Start (Normal Tariff)

$6.61 ISK 802

Taxi (Normal Tariff) (1km)

$2.90 ISK 352

Taxi 1hour Waiting (Normal Tariff)

$79.2 ISK 9,602

Gasoline (1 liter)

$2.09 ISK 253

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

$51.0K ISK 6.2M

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

$53.3K ISK 6.5M

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

$95.3 ISK 11.6K

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

$32.35 ISK 3,923

Internet (50+ Mbps, Unlimited Data)

$87.5 ISK 10.6K

Gym Membership (Monthly)

$102 ISK 12.4K

Tennis Court (1 Hour on Weekend)

$50.1 ISK 6,074

Cinema Ticket

$19.88 ISK 2,412

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

$1,194 ISK 144.8K

International Primary School, 1 Child (Yearly)

$25.4K ISK 3.1M

Jeans (Levis 501 Or Similar)

$149 ISK 18.1K

Summer Dress (H&M, Zara, etc)

$66.6 ISK 8,080

Sport Shoes (Adidas, Nike)

$180 ISK 21.8K

Men's Leather Business Shoes

$253 ISK 30.7K

1-bedroom Apartment, City Center (Monthly)

$2,549 ISK 309.2K

1-bedroom Apartment, Outside City Center (Monthly)

$2,056 ISK 249.4K

$2,779 ISK 337.1K

-26.03%

3-bedroom Apartment, City Center (Monthly)

$3,498 ISK 424.2K

3-bedroom Apartment, Outside City Center (Monthly)

$2,764 ISK 335.2K

Buy Apartment in City Center (m2)

$8,120 ISK 984.9K

Buy Apartment Outside City Center (m2)

$6,254 ISK 758.5K

Average Monthly Net Salary (After Tax)

$4,573 ISK 554.6K

20-Year Fixed Mortgage Interest Rate (Annual %)

8.81

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

Last update for Reykjavik: October 12, 2026

Last update for Selfoss: October 11, 2026

Monthly budget structure

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

Accommodation & Living

Reykjavik

$2.1K 51.4%

Selfoss

–

Groceries & Markets

Reykjavik

$623 15.6%

Selfoss

–

Eating Out

Reykjavik

$536 13.4%

Selfoss

–

Clothing & Footwear

Reykjavik

$292 7.3%

Selfoss

–

Monthly Utilities & Internet

Reykjavik

$215 5.4%

Selfoss

–

Sport & Entertainment

Reykjavik

$142 3.5%

Selfoss

–

Getting Around

Reykjavik

$138 3.5%

Selfoss

–

Good to know

🇮🇸 Reykjavik

🇮🇸 Selfoss

🕒 Local time

19:42 7:42 PM

Same time as Reykjavik

🌤 Weather

👥 Population

136,894 Capital

9,000

💱 Currency

Icelandic Króna ISK kr

📈 Exchange rate

1,000 ISK = 8.24 USD

1,000 ISK = 7.33 EUR

1,000 ISK = 8.24 USD

1,000 ISK = 7.33 EUR

Exchange rates and currency converter

On the map

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Reykjavik Selfoss 51 km

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Reykjavik
Selfoss

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 Selfoss: Cost of Living - Frequently Asked Questions

Reykjavik costs about 17% more than Selfoss, and outside of rent the gap comes mainly from 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 $6,003 per month in Reykjavik and $5,135 in Selfoss. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Monthly expenses with rent come to $4,002 in Reykjavik and $3,423 in Selfoss. That's a gap of about 17%.

Groceries cost about 19% 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 $3,423, than in Reykjavik at $4,002. 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 $3,423 versus $4,002 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.