Last update: Oct 2026

Cost of Living Comparison Between Selfoss and Akranes

For one person, living is cheaper in Selfoss: $3,416 a month against $3,713 in Akranes, rent and utilities included – about $3,600 less a year. The total is higher in Akranes despite lower rent and utilities.

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Cost of Living Index in Akranes
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Akranes Living Index

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Selfoss

🇮🇸 Iceland

$3,416

/mo nomad

Akranes

🇮🇸 Iceland

$3,713

/mo nomad

Monthly Cost of Living

How much you'll spend in Selfoss and in Akranes

Real prices from locals and on-the-ground checks – rent, groceries, transit and the daily extras. Here's what a month in Selfoss and in Akranes actually costs, broken down by who's living it.

Monthly costs for one person with rent: $3,416 in Selfoss versus $3,713 in Akranes.

Selfoss $3,416
Akranes $3,713

Estimated couple costs with rent: $2,439 in Selfoss versus $5,859 in Akranes.

Selfoss $2,439
Akranes $5,859

Monthly costs for a family of three with rent: $1,461 in Selfoss versus $8,006 in Akranes.

Selfoss $1,461
Akranes $8,006

Living in Selfoss costs roughly 8% less than in Akranes, and outside of rent the biggest gap is in eating out.

Both cities are pricier than the global median: Selfoss 151% above, Akranes 173% above.

Meal at Budget Restaurant

$31.70 ISK 3,862

Three-Course Dinner for Two, Mid-Range

$123 ISK 15.0K

Fast Food Meal (McDonalds, etc)

$20.39 ISK 2,484

$26.72 ISK 3,255

-23.69%

Cappuccino

$6.01 ISK 733

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

$3.19 ISK 389

Water (0.33 liter bottle)

$2.51 ISK 306

Local Beer (0.5 liter draught)

$12.18 ISK 1,484

$10.69 ISK 1,302

13.94%

Imported Beer (0.33 liter bottle)

$8.10 ISK 987

Milk (1 liter)

$1.77 ISK 216

$2.10 ISK 255

-15.71%

White Bread (500g)

$7.65 ISK 932

$2.04 ISK 248

275.00%

Rice (white) (1kg)

$4.55 ISK 554

$3.71 ISK 452

22.64%

Eggs

$6.49 ISK 790

$6.26 ISK 763

3.67%

Local Cheese (1kg)

$17.25 ISK 2,101

$20.35 ISK 2,479

-15.23%

Chicken Fillets (1kg)

$21.56 ISK 2,627

$24.72 ISK 3,012

-12.78%

Beef Round Steak (1kg)

$33.60 ISK 4,093

$42.16 ISK 5,137

-20.30%

Apples (1kg)

$2.83 ISK 344

$3.30 ISK 402

-14.24%

Banana (1kg)

$2.70 ISK 329

$2.72 ISK 331

-0.74%

Oranges (1kg)

$2.72 ISK 331

$3.23 ISK 394

-15.79%

Tomato (1kg)

$7.25 ISK 884

$4.89 ISK 596

48.26%

Potato (1kg)

$3.24 ISK 395

$3.82 ISK 465

-15.18%

Onion (1kg)

$2.07 ISK 253

$1.71 ISK 208

21.05%

Lettuce (1 head)

$3.70 ISK 450

$3.65 ISK 445

1.37%

Water (1.5 liter bottle)

$1.34 ISK 164

$1.81 ISK 221

-25.97%

Cigarettes 20 Pack (Marlboro, Camel)

$15.61 ISK 1,902

$13.90 ISK 1,693

12.30%

Wine (Bottle)

$23.57 ISK 2,872

Local Beer (0.5 liter bottle)

$2.88 ISK 351

Imported Beer (0.33 liter bottle)

$1.15 ISK 140

$2.07 ISK 252

-44.44%

One-way Ticket (Public Transport)

$3.61 ISK 440

Public Transport Monthly Pass (Regular Price)

$72.3 ISK 8,809

Taxi Start (Normal Tariff)

$6.55 ISK 798

Taxi (Normal Tariff) (1km)

$1.25 ISK 153

Taxi 1hour Waiting (Normal Tariff)

$81.9 ISK 9,980

Gasoline (1 liter)

$2.08 ISK 253

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

$67.8K ISK 8.3M

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

$54.6K ISK 6.6M

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

$96.4 ISK 11.7K

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

$33.29 ISK 4,056

Internet (50+ Mbps, Unlimited Data)

$85.0 ISK 10.4K

Gym Membership (Monthly)

$104 ISK 12.7K

Cinema Ticket

$19.29 ISK 2,351

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

$1,205 ISK 146.8K

International Primary School, 1 Child (Yearly)

$26.1K ISK 3.2M

Jeans (Levis 501 Or Similar)

$150 ISK 18.2K

Summer Dress (H&M, Zara, etc)

$67.1 ISK 8,176

Sport Shoes (Adidas, Nike)

$179 ISK 21.8K

Men's Leather Business Shoes

$246 ISK 29.9K

1-bedroom Apartment, City Center (Monthly)

$3,064 ISK 373.3K

1-bedroom Apartment, Outside City Center (Monthly)

$2,771 ISK 337.6K

$1,889 ISK 230.2K

46.67%

3-bedroom Apartment, City Center (Monthly)

$5,013 ISK 610.8K

3-bedroom Apartment, Outside City Center (Monthly)

$3,654 ISK 445.2K

Average Monthly Net Salary (After Tax)

$5,704 ISK 695.0K

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 Selfoss: October 25, 2026

Last update for Akranes: October 27, 2026

Monthly budget structure

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

Accommodation & Living

Selfoss

–

Akranes

$1.9K 50.9%

Groceries & Markets

Selfoss

–

Akranes

$579 15.6%

Eating Out

Selfoss

–

Akranes

$498 13.4%

Clothing & Footwear

Selfoss

–

Akranes

$289 7.8%

Monthly Utilities & Internet

Selfoss

–

Akranes

$215 5.8%

Sport & Entertainment

Selfoss

–

Akranes

$143 3.9%

Getting Around

Selfoss

–

Akranes

$100 2.7%

Good to know

🇮🇸 Selfoss

🇮🇸 Akranes

🕒 Local time

23:45 11:45 PM

Same time as Selfoss

🌤 Weather

👥 Population

9,000

7,800

💱 Currency

Icelandic Króna ISK kr

📈 Exchange rate

1,000 ISK = 8.21 USD

1,000 ISK = 7.37 EUR

1,000 ISK = 8.21 USD

1,000 ISK = 7.37 EUR

Exchange rates and currency converter

On the map

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Between locations

Selfoss Akranes 67 km

From you

Selfoss
Akranes

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

Selfoss vs Akranes: Cost of Living - Frequently Asked Questions

Selfoss wins on cost – living expenses run 8% 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 $5,124 in Selfoss and $5,569 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 $3,416 per month in Selfoss versus $3,713 in Akranes – Selfoss is about 8% cheaper, which adds up to real savings over time.

Both cities are expensive relative to $3,000. Selfoss is the more realistic option, but even there you’ll need to be disciplined with housing, food, and fun money.

Safety-wise, Selfoss and Akranes are both considered safe, so it’s unlikely to be the deciding factor between them.