Last update: Oct 2026

Cost of Living Comparison Between Reykjavik and Timbo

For one person, living is cheaper in Timbo: $764 a month against $4,023 in Reykjavik, rent and utilities included – about $39,100 less a year. Rent and utilities account for most of the difference.

193

Cost of Living Index in Reykjavik
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Reykjavik Living Index
37

Cost of Living Index in Timbo
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Timbo Living Index

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Reykjavik

🇮🇸 Iceland

$4,023

/mo nomad

Timbo

🇧🇷 Brazil

$764

/mo nomad

Monthly Cost of Living

How much you'll spend in Reykjavik and in Timbo

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

A single person spends $4,023 per month in Reykjavik vs $764 in Timbo, rent included.

Reykjavik $4,023
Timbo $764

A couple spends around $5,708 per month in Reykjavik vs $1,250 in Timbo, rent included.

Reykjavik $5,708
Timbo $1,250

A family of three spends $7,393 per month in Reykjavik vs $1,737 in Timbo, rent included.

Reykjavik $7,393
Timbo $1,737

Reykjavik costs about 426% more than Timbo, and outside of rent the biggest gap is in groceries.

Reykjavik sits 197% above the global median, while Timbo is 44% below – they fall on opposite sides of the world average.

Meal at Budget Restaurant

$31.00 ISK 3,760

$4.90 R$24.82

532.65%

Three-Course Dinner for Two, Mid-Range

$123 ISK 14.9K

$39.89 R$202

208.85%

Fast Food Meal (McDonalds, etc)

$27.21 ISK 3,300

$3.93 R$19.90

592.37%

Cappuccino

$6.90 ISK 837

$2.05 R$10.41

236.59%

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

$3.30 ISK 401

$1.07 R$5.44

208.41%

Water (0.33 liter bottle)

$3.16 ISK 384

$0.71 R$3.60

345.07%

Local Beer (0.5 liter draught)

$13.84 ISK 1,678

$1.89 R$9.57

632.28%

Imported Beer (0.33 liter bottle)

$12.46 ISK 1,512

$2.35 R$11.93

430.21%

Milk (1 liter)

$2.06 ISK 250

$0.93 R$4.69

121.51%

White Bread (500g)

$4.11 ISK 498

$1.47 R$7.47

179.59%

Rice (white) (1kg)

$3.68 ISK 446

$0.93 R$4.72

295.70%

Eggs

$7.27 ISK 882

$1.80 R$9.11

303.89%

Local Cheese (1kg)

$21.79 ISK 2,643

$7.84 R$39.76

177.93%

Chicken Fillets (1kg)

$23.95 ISK 2,905

$3.60 R$18.24

565.28%

Beef Round Steak (1kg)

$41.43 ISK 5,025

$7.74 R$39.26

435.27%

Apples (1kg)

$3.42 ISK 414

$1.83 R$9.29

86.89%

Banana (1kg)

$2.84 ISK 344

$0.72 R$3.65

294.44%

Oranges (1kg)

$3.23 ISK 391

$0.83 R$4.20

289.16%

Tomato (1kg)

$6.46 ISK 783

$1.34 R$6.81

382.09%

Potato (1kg)

$4.05 ISK 491

$0.86 R$4.35

370.93%

Onion (1kg)

$1.66 ISK 202

$0.78 R$3.96

112.82%

Lettuce (1 head)

$3.86 ISK 468

$0.63 R$3.18

512.70%

Water (1.5 liter bottle)

$1.84 ISK 223

$0.83 R$4.20

121.69%

Cigarettes 20 Pack (Marlboro, Camel)

$13.96 ISK 1,693

$1.63 R$8.25

756.44%

Wine (Bottle)

$23.76 ISK 2,882

$4.99 R$25.28

376.15%

Local Beer (0.5 liter bottle)

$3.54 ISK 430

$1.12 R$5.68

216.07%

Imported Beer (0.33 liter bottle)

$3.44 ISK 418

$2.06 R$10.44

66.99%

One-way Ticket (Public Transport)

$5.81 ISK 705

$1.03 R$5.24

464.08%

Public Transport Monthly Pass (Regular Price)

$95.3 ISK 11.6K

$44.44 R$225

114.51%

Taxi Start (Normal Tariff)

$6.72 ISK 815

$1.31 R$6.65

412.98%

Taxi (Normal Tariff) (1km)

$2.81 ISK 340

$0.83 R$4.20

238.55%

Taxi 1hour Waiting (Normal Tariff)

$81.3 ISK 9,866

$6.11 R$30.95

1231.26%

Gasoline (1 liter)

$2.12 ISK 257

$1.02 R$5.19

107.84%

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

$68.9K ISK 8.4M

$22.8K R$115.7K

202.13%

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

$55.8K ISK 6.8M

$27.3K R$138.4K

104.45%

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

$95.8 ISK 11.6K

$57.6 R$292

66.37%

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

$33.11 ISK 4,016

$12.86 R$65.2

157.47%

Internet (50+ Mbps, Unlimited Data)

$87.2 ISK 10.6K

$23.62 R$120

268.97%

Gym Membership (Monthly)

$101 ISK 12.3K

$25.78 R$131

292.09%

Tennis Court (1 Hour on Weekend)

$50.7 ISK 6,155

$27.38 R$139

85.32%

Cinema Ticket

$19.85 ISK 2,407

$5.84 R$29.62

239.90%

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

$1,195 ISK 144.9K

$238 R$1,204

402.89%

International Primary School, 1 Child (Yearly)

$26.2K ISK 3.2M

$2,918 R$14.8K

798.66%

Jeans (Levis 501 Or Similar)

$148 ISK 18.0K

$31.48 R$160

370.97%

Summer Dress (H&M, Zara, etc)

$66.8 ISK 8,096

$40.18 R$204

66.13%

Sport Shoes (Adidas, Nike)

$187 ISK 22.6K

$59.2 R$300

215.06%

Men's Leather Business Shoes

$253 ISK 30.6K

$49.89 R$253

406.37%

1-bedroom Apartment, City Center (Monthly)

$2,579 ISK 312.8K

$351 R$1,781

633.94%

1-bedroom Apartment, Outside City Center (Monthly)

$2,080 ISK 252.3K

$241 R$1,223

762.50%

3-bedroom Apartment, City Center (Monthly)

$3,455 ISK 419.0K

$662 R$3,354

422.06%

3-bedroom Apartment, Outside City Center (Monthly)

$2,752 ISK 333.8K

$477 R$2,419

476.61%

Buy Apartment in City Center (m2)

$7,933 ISK 962.2K

$1,726 R$8,751

359.55%

Buy Apartment Outside City Center (m2)

$6,377 ISK 773.5K

$1,213 R$6,151

425.58%

Average Monthly Net Salary (After Tax)

$4,695 ISK 569.5K

$713 R$3,613

558.82%

20-Year Fixed Mortgage Interest Rate (Annual %)

8.81

-19.91%

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

Last update for Reykjavik: October 20, 2026

Last update for Timbo: October 19, 2026

Monthly budget structure

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

Accommodation & Living

Reykjavik

$2.1K 51.7%

Timbo

$241 31.6% 88.4% $1.8K

Groceries & Markets

Reykjavik

$619 15.4%

Timbo

$159 20.9% 74.3% $460

Eating Out

Reykjavik

$532 13.2%

Timbo

$97 12.7% 81.8% $436

Clothing & Footwear

Reykjavik

$294 7.3%

Timbo

$81 10.6% 72.4% $213

Monthly Utilities & Internet

Reykjavik

$216 5.4%

Timbo

$94 12.3% 56.5% $122

Sport & Entertainment

Reykjavik

$141 3.5%

Timbo

$37 4.9% 73.4% $103

Getting Around

Reykjavik

$139 3.5%

Timbo

$54 7.1% 61.2% $85

Cost Breakdown

A central one-bedroom costs $2,579 in Reykjavik versus $351 in Timbo. 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 559% 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 $123 in Reykjavik versus $40.00 in Timbo. Monthly groceries follow the same trend: $619 vs $159 – making Timbo the more affordable choice for daily food spending.

Good to know

🇮🇸 Reykjavik

🇧🇷 Timbo

🕒 Local time

19:58 7:58 PM

16:58 4:58 PM

3 h behind Reykjavik

🌤 Weather

👥 Population

136,894 Capital

46,099

💱 Currency

Icelandic Króna ISK kr

Brazilian Real BRL R$

📈 Exchange rate

1,000 ISK = 8.24 USD

1,000 ISK = 7.33 EUR

1 BRL = 0.197 USD

1 BRL = 0.175 EUR

Exchange rates and currency converter

BRL, USD, EUR to ISK – Icelandic Króna Converter

🇺🇸 United States Dollar ($)

🇮🇸 Icelandic Króna (kr)

Icelandic Króna exchange rates as of October 20, 2026: 1 USD = 121 ISK (1,000 ISK = 8.24 USD). 1 EUR = 136 ISK (1,000 ISK = 7.33 EUR).

Brazilian Real exchange rates as of October 20, 2026: 1 USD = 5.07 BRL (1 BRL = 0.197 USD). 1 EUR = 5.7 BRL (1 BRL = 0.175 EUR).

USD to ISK in detail →

On the map

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Between locations

Reykjavik Timbo 10,390 km ≈ 13 h nonstop flight

From you

Reykjavik
Timbo

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 Timbo: Cost of Living - Frequently Asked Questions

Reykjavik costs about 426% more than Timbo, and outside of rent the gap comes mainly from groceries. That's enough to noticeably affect everyday spending and lifestyle for anyone choosing between the two.

For a comfortable life, plan on about $6,034 per month in Reykjavik and $1,147 in Timbo. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Rent is clearly cheaper in Timbo, 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 $4,023 in Reykjavik and $764 in Timbo. That's a gap of about 426%.

Public transport costs about 115% less in Timbo. For daily commuters, that gap adds up to noticeable savings over a year.

A $2,000 monthly budget goes further in Timbo, where all-in costs run around $764, than in Reykjavik at $4,023. In Timbo it covers expenses comfortably, while in Reykjavik it requires careful planning or may not stretch far enough.

For digital nomads, it depends on budget. Timbo costs $764 versus $4,023 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 Timbo. 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.