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: $3,564 in Selfoss versus $3,434 in Akranes.

Estimated couple costs with rent: $2,499 in Selfoss versus $5,592 in Akranes.

Monthly costs for a family of three with rent: $1,435 in Selfoss versus $7,750 in Akranes.

Living in Selfoss is roughly 4% more expensive than Akranes, driven mainly by Eating Out.

Both cities are pricier than the global median: Selfoss 166% above, Akranes 156% above.

Meal at Budget Restaurant

$27.17 ISK 3,327

Three-Course Dinner for Two, Mid-Range

$145 ISK 17.7K

Fast Food Meal (McDonalds, etc)

$20.26 ISK 2,481

$22.07 ISK 2,702

-8.20%

Cappuccino

$6.13 ISK 751

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

$3.14 ISK 384

Water (0.33 liter bottle)

$2.36 ISK 289

Local Beer (0.5 liter draught)

$12.03 ISK 1,473

$10.54 ISK 1,290

14.14%

Imported Beer (0.33 liter bottle)

$8.14 ISK 997

Milk (1 liter)

$1.74 ISK 213

$1.92 ISK 235

-9.37%

White Bread (500g)

$7.26 ISK 889

$2.07 ISK 253

250.72%

Rice (white) (1kg)

$4.53 ISK 555

$3.59 ISK 439

26.18%

Eggs

$6.29 ISK 770

$6.11 ISK 748

2.95%

Local Cheese (1kg)

$16.50 ISK 2,021

$17.93 ISK 2,195

-7.98%

Chicken Fillets (1kg)

$20.92 ISK 2,561

$24.18 ISK 2,961

-13.48%

Beef Round Steak (1kg)

$33.41 ISK 4,091

$43.23 ISK 5,294

-22.72%

Apples (1kg)

$2.70 ISK 331

$3.26 ISK 400

-17.18%

Banana (1kg)

$2.62 ISK 320

$2.42 ISK 296

8.26%

Oranges (1kg)

$2.57 ISK 314

$2.98 ISK 364

-13.76%

Tomato (1kg)

$7.17 ISK 878

$4.93 ISK 603

45.44%

Potato (1kg)

$3.19 ISK 391

$3.56 ISK 435

-10.39%

Onion (1kg)

$2.05 ISK 251

$2.32 ISK 284

-11.64%

Lettuce (1 head)

$3.52 ISK 431

$3.05 ISK 374

15.41%

Water (1.5 liter bottle)

$1.38 ISK 169

$1.93 ISK 236

-28.50%

Cigarettes 20 Pack (Marlboro, Camel)

$14.96 ISK 1,832

$13.70 ISK 1,677

9.20%

Wine (Bottle)

$22.69 ISK 2,779

Local Beer (0.5 liter bottle)

$2.75 ISK 337

Imported Beer (0.33 liter bottle)

$1.15 ISK 140

$1.98 ISK 242

-41.92%

One-way Ticket (Public Transport)

$3.67 ISK 449

Public Transport Monthly Pass (Regular Price)

$73.5 ISK 9,002

Taxi Start (Normal Tariff)

$6.52 ISK 798

Taxi (Normal Tariff) (1km)

$1.05 ISK 128

Taxi 1hour Waiting (Normal Tariff)

$86.4 ISK 10.6K

Gasoline (1 liter)

$2.56 ISK 314

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

$47.6K ISK 5.8M

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

$52.3K ISK 6.4M

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

$87.7 ISK 10.7K

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

$27.18 ISK 3,327

Internet (50+ Mbps, Unlimited Data)

$87.0 ISK 10.7K

Cinema Ticket

$17.80 ISK 2,180

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

$327 ISK 40.0K

International Primary School, 1 Child (Yearly)

$30.4K ISK 3.7M

Jeans (Levis 501 Or Similar)

$140 ISK 17.1K

Summer Dress (H&M, Zara, etc)

$61.9 ISK 7,583

Sport Shoes (Adidas, Nike)

$179 ISK 21.9K

Men's Leather Business Shoes

$263 ISK 32.2K

1-bedroom Apartment, City Center (Monthly)

$2,958 ISK 362.2K

1-bedroom Apartment, Outside City Center (Monthly)

$2,864 ISK 350.7K

$1,833 ISK 224.5K

56.23%

3-bedroom Apartment, City Center (Monthly)

$4,728 ISK 578.9K

3-bedroom Apartment, Outside City Center (Monthly)

$3,569 ISK 437.0K

Average Monthly Net Salary (After Tax)

$5,650 ISK 691.8K

20-Year Fixed Mortgage Interest Rate (Annual %)

9.63

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

Last update for Selfoss: April 28, 2026

Last update for Akranes: April 25, 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 and Akranes differ by about 4% in total monthly costs ($3,564 vs $3,434 including rent). Akranes is meaningfully more affordable – a gap that matters a lot on a fixed or modest income.

You'd need roughly $5,346 in Selfoss and $5,151 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.

Shoppers in Selfoss pay roughly 11% less for everyday groceries. It's an unusual reversal that partly offsets higher costs elsewhere.

All in, you'll spend $3,564 per month in Selfoss versus $3,434 in Akranes – a 4% gap that adds up to real savings over time for anyone picking the cheaper option.

At $3,434 in Akranes versus $3,564 in Selfoss, a $2,000 budget is realistic in Akranes but tight or insufficient in Selfoss. The gap between the two cities makes Akranes 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 Akranes gentler on the wallet – expenses run 4% less than in Selfoss. Beyond cost, consider language, visa policies, and how big the international community is in each city.