Cost of Living Comparison Between Selfoss and Akranes Cost of Living Comparison Between Selfoss and Akranes

Monthly Cost of Living

Monthly costs for one person with rent: $3,620 in Selfoss versus $3,766 in Akranes.

Estimated couple costs with rent: $2,533 in Selfoss versus $5,946 in Akranes.

Monthly costs for a family of three with rent: $1,446 in Selfoss versus $8,125 in Akranes.

Living in Selfoss costs roughly 4% less than in Akranes, driven mainly by Eating Out.

Both cities are pricier than the global median: Selfoss 162% above, Akranes 173% above.

Meal at Budget Restaurant

$30.03 ISK 3,617

Three-Course Dinner for Two, Mid-Range

$134 ISK 16.2K

Fast Food Meal (McDonalds, etc)

$20.86 ISK 2,513

$26.46 ISK 3,187

-21.16%

Cappuccino

$6.10 ISK 735

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

$3.33 ISK 401

Water (0.33 liter bottle)

$2.50 ISK 301

Local Beer (0.5 liter draught)

$12.30 ISK 1,482

$10.65 ISK 1,283

15.49%

Imported Beer (0.33 liter bottle)

$8.11 ISK 977

Milk (1 liter)

$1.73 ISK 208

$2.03 ISK 245

-14.78%

White Bread (500g)

$7.67 ISK 924

$2.05 ISK 246

274.15%

Rice (white) (1kg)

$4.62 ISK 557

$3.52 ISK 424

31.25%

Eggs

$6.66 ISK 802

$6.29 ISK 757

5.88%

Local Cheese (1kg)

$17.37 ISK 2,093

$20.48 ISK 2,467

-15.19%

Chicken Fillets (1kg)

$21.79 ISK 2,625

$24.90 ISK 2,999

-12.49%

Beef Round Steak (1kg)

$33.42 ISK 4,025

$41.58 ISK 5,009

-19.62%

Apples (1kg)

$2.72 ISK 328

$3.42 ISK 412

-20.47%

Banana (1kg)

$2.71 ISK 327

$2.91 ISK 350

-6.87%

Oranges (1kg)

$2.64 ISK 318

$3.18 ISK 383

-16.98%

Tomato (1kg)

$7.16 ISK 863

$5.03 ISK 606

42.35%

Potato (1kg)

$3.15 ISK 380

$3.99 ISK 480

-21.05%

Onion (1kg)

$2.18 ISK 263

$1.72 ISK 207

26.74%

Lettuce (1 head)

$3.67 ISK 442

$3.69 ISK 445

-0.54%

Water (1.5 liter bottle)

$1.35 ISK 163

$1.78 ISK 215

-24.16%

Cigarettes 20 Pack (Marlboro, Camel)

$15.90 ISK 1,915

$13.94 ISK 1,680

14.06%

Wine (Bottle)

$23.89 ISK 2,878

Local Beer (0.5 liter bottle)

$2.89 ISK 348

Imported Beer (0.33 liter bottle)

$1.12 ISK 135

$2.01 ISK 242

-44.28%

One-way Ticket (Public Transport)

$3.62 ISK 436

Public Transport Monthly Pass (Regular Price)

$74.9 ISK 9,027

Taxi Start (Normal Tariff)

$6.96 ISK 838

Taxi (Normal Tariff) (1km)

$1.26 ISK 152

Taxi 1hour Waiting (Normal Tariff)

$75.0 ISK 9,037

Gasoline (1 liter)

$1.97 ISK 237

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

$52.1K ISK 6.3M

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

$55.2K ISK 6.6M

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

$87.8 ISK 10.6K

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

$33.25 ISK 4,005

Internet (50+ Mbps, Unlimited Data)

$83.5 ISK 10.1K

Gym Membership (Monthly)

$102 ISK 12.2K

Cinema Ticket

$19.75 ISK 2,379

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

$1,214 ISK 146.2K

International Primary School, 1 Child (Yearly)

$30.6K ISK 3.7M

Jeans (Levis 501 Or Similar)

$160 ISK 19.3K

Summer Dress (H&M, Zara, etc)

$65.9 ISK 7,933

Sport Shoes (Adidas, Nike)

$180 ISK 21.7K

Men's Leather Business Shoes

$249 ISK 29.9K

1-bedroom Apartment, City Center (Monthly)

$3,035 ISK 365.5K

1-bedroom Apartment, Outside City Center (Monthly)

$2,850 ISK 343.3K

$1,907 ISK 229.7K

49.48%

3-bedroom Apartment, City Center (Monthly)

$4,989 ISK 600.9K

3-bedroom Apartment, Outside City Center (Monthly)

$3,683 ISK 443.6K

Average Monthly Net Salary (After Tax)

$5,858 ISK 705.6K

20-Year Fixed Mortgage Interest Rate (Annual %)

8.88

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

Last update for Selfoss: September 6, 2026

Last update for Akranes: September 6, 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

Selfoss vs Akranes: Cost of Living - Frequently Asked Questions

Selfoss wins on cost – living expenses run 4% lower than in Akranes. Housing and daily spending are where you'll feel the difference most, making Selfoss the obvious pick if budget is a priority.

You'd need roughly $5,430 in Selfoss and $5,649 in Akranes to live well. The gap comes down to housing and overall price levels. Both cities are liveable on less, but these numbers represent actual comfort.

Supermarket bills run roughly 11% higher in Akranes. For households that cook at home regularly, that difference adds up over a month.

All in, you'll spend $3,620 per month in Selfoss versus $3,766 in Akranes – a 4% gap that adds up to real savings over time for anyone picking the cheaper option.

At $3,620 in Selfoss versus $3,766 in Akranes, a $3,000 budget is realistic in Selfoss but tight or insufficient in Akranes. The gap between the two cities makes Selfoss the clear choice for anyone on this budget.

Both cities offer a good standard of living with different trade-offs. Neither is objectively better – the right pick depends on what matters most: affordability, career, cultural scene, or climate.

Safety-wise, Selfoss and Akranes are on par. Petty crime is typical for cities this size, and most residents feel comfortable going about their daily routines in either place.

Expats usually find Selfoss gentler on the wallet – expenses run 4% less than in Akranes. Beyond cost, consider language, visa policies, and how big the international community is in each city.