Last update: Oct 2026

Cost of Living Comparison Between Reykjavik and Stanley

For one person, living is cheaper in Stanley: $2,941 a month against $4,037 in Reykjavik, rent and utilities included – about $13,200 less a year. Rent and utilities account for about half of the difference.

193

Cost of Living Index in Reykjavik
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Reykjavik Living Index
119

Cost of Living Index in Stanley
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Stanley Living Index

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Reykjavik

🇮🇸 Iceland

$4,037

/mo nomad

Stanley

🇫🇰 Falkland Islands

$2,941

/mo nomad

Monthly Cost of Living

How much you'll spend in Reykjavik and in Stanley

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

A single person spends $4,037 per month in Reykjavik vs $2,941 in Stanley, rent included.

Reykjavik $4,037
Stanley $2,941

A couple spends around $5,666 per month in Reykjavik vs $4,457 in Stanley, rent included.

Reykjavik $5,666
Stanley $4,457

A family of three spends $7,295 per month in Reykjavik vs $5,973 in Stanley, rent included.

Reykjavik $7,295
Stanley $5,973

Reykjavik costs about 37% more than Stanley, and outside of rent the biggest gap is in utilities.

Both Reykjavik and Stanley sit above the global median – Reykjavik by 201%, Stanley by 119%.

Meal at Budget Restaurant

$30.59 ISK 3,730

$26.38 FKP 19.92

15.96%

Three-Course Dinner for Two, Mid-Range

$136 ISK 16.5K

$80.6 FKP 60.9

68.17%

Fast Food Meal (McDonalds, etc)

$27.08 ISK 3,302

Cappuccino

$6.72 ISK 819

$4.12 FKP 3.11

63.11%

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

$3.27 ISK 399

$2.20 FKP 1.66

48.64%

Water (0.33 liter bottle)

$3.16 ISK 386

$1.35 FKP 1.02

134.07%

Local Beer (0.5 liter draught)

$13.91 ISK 1,696

$4.23 FKP 3.19

228.84%

Imported Beer (0.33 liter bottle)

$12.06 ISK 1,470

$2.58 FKP 1.95

367.44%

Milk (1 liter)

$2.04 ISK 248

$2.29 FKP 1.73

-10.92%

White Bread (500g)

$4.32 ISK 527

$2.95 FKP 2.23

46.44%

Rice (white) (1kg)

$3.67 ISK 447

$0.90 FKP 0.68

307.78%

Eggs

$7.02 ISK 856

$6.99 FKP 5.28

0.43%

Local Cheese (1kg)

$22.01 ISK 2,684

$2.84 FKP 2.15

675.00%

Chicken Fillets (1kg)

$24.70 ISK 3,012

$9.47 FKP 7.15

160.82%

Beef Round Steak (1kg)

$42.66 ISK 5,202

$11.99 FKP 9.06

255.80%

Apples (1kg)

$3.37 ISK 412

$9.40 FKP 7.09

-64.15%

Banana (1kg)

$2.85 ISK 347

$5.40 FKP 4.08

-47.22%

Oranges (1kg)

$3.17 ISK 387

$10.50 FKP 7.93

-69.81%

Tomato (1kg)

$6.39 ISK 779

$7.90 FKP 5.96

-19.11%

Potato (1kg)

$4.01 ISK 489

$3.22 FKP 2.43

24.53%

Onion (1kg)

$1.64 ISK 200

$0.76 FKP 0.58

115.79%

Lettuce (1 head)

$3.80 ISK 463

$4.26 FKP 3.22

-10.80%

Water (1.5 liter bottle)

$1.74 ISK 212

Cigarettes 20 Pack (Marlboro, Camel)

$13.80 ISK 1,682

$16.30 FKP 12.31

-15.34%

Wine (Bottle)

$23.38 ISK 2,851

$12.01 FKP 9.07

94.67%

Local Beer (0.5 liter bottle)

$3.53 ISK 430

Imported Beer (0.33 liter bottle)

$3.45 ISK 420

$2.45 FKP 1.85

40.82%

One-way Ticket (Public Transport)

$5.77 ISK 704

Public Transport Monthly Pass (Regular Price)

$95.1 ISK 11.6K

Taxi Start (Normal Tariff)

$6.63 ISK 808

$6.54 FKP 4.94

1.38%

Taxi (Normal Tariff) (1km)

$2.79 ISK 341

Taxi 1hour Waiting (Normal Tariff)

$81.4 ISK 9,923

Gasoline (1 liter)

$2.11 ISK 257

$1.65 FKP 1.24

27.88%

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

$50.8K ISK 6.2M

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

$52.7K ISK 6.4M

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

$88.7 ISK 10.8K

$380 FKP 287

-76.65%

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

$31.53 ISK 3,845

$76.3 FKP 57.6

-58.65%

Internet (50+ Mbps, Unlimited Data)

$84.6 ISK 10.3K

$449 FKP 339

-81.14%

Gym Membership (Monthly)

$100 ISK 12.2K

$21.93 FKP 16.56

357.73%

Tennis Court (1 Hour on Weekend)

$48.20 ISK 5,877

Cinema Ticket

$19.87 ISK 2,424

$11.93 FKP 9.01

66.55%

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

$1,277 ISK 155.8K

International Primary School, 1 Child (Yearly)

$31.0K ISK 3.8M

Jeans (Levis 501 Or Similar)

$161 ISK 19.6K

$113 FKP 85.2

42.64%

Summer Dress (H&M, Zara, etc)

$64.9 ISK 7,914

$94.3 FKP 71.2

-31.20%

Sport Shoes (Adidas, Nike)

$183 ISK 22.3K

$162 FKP 122

13.08%

Men's Leather Business Shoes

$254 ISK 31.0K

$106 FKP 80.3

138.86%

1-bedroom Apartment, City Center (Monthly)

$2,499 ISK 304.8K

$1,445 FKP 1,091

73.02%

1-bedroom Apartment, Outside City Center (Monthly)

$2,000 ISK 243.9K

$1,073 FKP 810

86.46%

3-bedroom Apartment, City Center (Monthly)

$3,452 ISK 421.0K

$2,684 FKP 2,027

28.61%

3-bedroom Apartment, Outside City Center (Monthly)

$2,742 ISK 334.4K

$2,426 FKP 1,832

13.03%

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

$3,889 FKP 2,936

20.63%

20-Year Fixed Mortgage Interest Rate (Annual %)

8.81

7.75

13.68%

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

Last update for Reykjavik: October 4, 2026

Last update for Stanley: October 3, 2026

Monthly budget structure

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

Accommodation & Living

Reykjavik

$2K 50.9%

Stanley

$1.1K 36.5% 46.4% $927

Groceries & Markets

Reykjavik

$625 15.9%

Stanley

$394 * 13.4% 37% $231

Eating Out

Reykjavik

$526 13.4%

Stanley

$301 * 10.2% 42.8% $225

Clothing & Footwear

Reykjavik

$298 7.6%

Stanley

$214 7.3% 28.3% $84

Monthly Utilities & Internet

Reykjavik

$205 5.2%

Stanley

$905 30.8% 342% $700

Sport & Entertainment

Reykjavik

$140 3.6%

Stanley

$46 1.6% 67.3% $94

Getting Around

Reykjavik

$139 3.5%

Stanley

$6.5 * 0.2% 95.3% $132

Categories marked with * are only partly priced – their share counts the items that do have prices.

Cost Breakdown

A central one-bedroom costs $2,499 in Reykjavik versus $1,445 in Stanley. Rent is usually the largest line item in a monthly budget, so the gap here sets the tone for the overall comparison.

Salaries run about 21% higher in Reykjavik, which partly offsets the higher cost of living there. Purchasing power depends on which expenses matter most to you.

A mid-range dinner for two costs $136 in Reykjavik versus $81.0 in Stanley. Monthly groceries follow the same trend: $625 vs $394 – making Stanley the more affordable choice for daily food spending.

Good to know

🇮🇸 Reykjavik

🇫🇰 Stanley

🕒 Local time

11:50 11:50 AM

08:50 8:50 AM

3 h behind Reykjavik

🌤 Weather

👥 Population

136,894 Capital

2,500 Capital

💱 Currency

Icelandic Króna ISK kr

Falkland Islands Pound FKP £

📈 Exchange rate

1,000 ISK = 8.2 USD

1,000 ISK = 7.32 EUR

1 FKP = 1.32 USD

1 FKP = 1.18 EUR

Exchange rates and currency converter

FKP, 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 = 7.32 EUR).

Falkland Islands Pound exchange rates as of October 10, 2026: 1 USD = 0.755 FKP (1 FKP = 1.32 USD). 1 EUR = 0.846 FKP (1 FKP = 1.18 EUR).

USD to ISK in detail →

On the map

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Highest

Between locations

Reykjavik Stanley 13,250 km ≈ 17 h nonstop flight

From you

Reykjavik
Stanley

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 Stanley: Cost of Living - Frequently Asked Questions

Reykjavik costs about 37% more than Stanley, and outside of rent the gap comes mainly from utilities. That's enough to noticeably affect everyday spending and lifestyle for anyone choosing between the two.

For a comfortable life, plan on about $6,055 per month in Reykjavik and $4,411 in Stanley. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Rent is clearly cheaper in Stanley, especially for central apartments. Housing is actually the single biggest factor behind the overall cost gap between these two cities.

Monthly expenses with rent come to $4,037 in Reykjavik and $2,941 in Stanley. That's a gap of about 37%.

Groceries cost about 59% more in Reykjavik, though it depends on what you buy. Local produce may be comparable; imported and premium items show the biggest price gap.

$2,500 is a stretch for both – monthly costs hit $4,037 in Reykjavik and $2,941 in Stanley. You'll need shared housing and careful budgeting no matter which city you pick.

For digital nomads, it depends on budget. Stanley costs $2,941 versus $4,037 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 Stanley. 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.