Cost of Living Comparison Between Selfoss and Bakkafjordur Cost of Living Comparison Between Selfoss and Bakkafjordur

Monthly Cost of Living

A single person spends $3,457 per month in Selfoss vs $247 in Bakkafjordur, rent included.

A couple spends around $2,466 per month in Selfoss vs $418 in Bakkafjordur, rent included.

A family of three spends $1,475 per month in Selfoss vs $588 in Bakkafjordur, rent included.

Selfoss costs about 1300% more than Bakkafjordur, driven mainly by Groceries & Markets.

Selfoss sits 156% above the global median, while Bakkafjordur is 82% below – they fall on opposite sides of the world average.

Fast Food Meal (McDonalds, etc)

$20.61 ISK 2,509

Local Beer (0.5 liter draught)

$12.56 ISK 1,529

Milk (1 liter)

$1.74 ISK 212

White Bread (500g)

$7.58 ISK 922

$2.22 ISK 271

241.44%

Rice (white) (1kg)

$4.50 ISK 547

$2.22 ISK 271

102.70%

Eggs

$6.43 ISK 783

$4.92 ISK 599

30.69%

Local Cheese (1kg)

$17.67 ISK 2,150

$8.93 ISK 1,086

97.87%

Chicken Fillets (1kg)

$21.83 ISK 2,657

$11.05 ISK 1,345

97.56%

Beef Round Steak (1kg)

$33.58 ISK 4,086

$10.95 ISK 1,332

206.67%

Apples (1kg)

$2.88 ISK 350

$2.16 ISK 263

33.33%

Banana (1kg)

$2.62 ISK 319

$2.16 ISK 263

21.30%

Oranges (1kg)

$2.80 ISK 340

$2.15 ISK 262

30.23%

Tomato (1kg)

$7.43 ISK 905

$2.23 ISK 271

233.18%

Potato (1kg)

$3.15 ISK 384

$2.24 ISK 273

40.62%

Onion (1kg)

$2.13 ISK 259

$2.18 ISK 266

-2.29%

Lettuce (1 head)

$3.69 ISK 449

$0.98 ISK 119

276.53%

Water (1.5 liter bottle)

$1.36 ISK 166

$1.96 ISK 238

-30.61%

Cigarettes 20 Pack (Marlboro, Camel)

$15.93 ISK 1,939

Imported Beer (0.33 liter bottle)

$1.18 ISK 143

1-bedroom Apartment, Outside City Center (Monthly)

$2,878 ISK 350.3K

Average Monthly Net Salary (After Tax)

$5,874 ISK 714.9K

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

Last update for Selfoss: September 28, 2026

Last update for Bakkafjordur: September 28, 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 Bakkafjordur: Cost of Living - Frequently Asked Questions

Selfoss costs about 1300% more than Bakkafjordur, with the gap driven mainly by Groceries & Markets. That's enough to noticeably affect everyday spending and lifestyle for anyone choosing between the two.

For a comfortable life, plan on about $5,186 per month in Selfoss and $370 in Bakkafjordur. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Monthly expenses with rent come to $3,457 in Selfoss and $247 in Bakkafjordur. The difference isn't just one category – it shows up across housing, food, transport, and services.

Groceries cost about 112% more in Selfoss, though it depends on what you buy. Local produce may be comparable; imported and premium items show the biggest price gap.

$800 covers both cities comfortably – all-in costs are $3,457 in Selfoss and $247 in Bakkafjordur, leaving budget for savings and extras in both cases.

Families tend to lean toward Bakkafjordur – lower housing and cheaper childcare make a real difference, especially on a single income or when paying for private education.

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 Bakkafjordur. If higher salaries, better infrastructure, or specific career opportunities are the priority, Selfoss makes more sense. Both are solid long-term options with distinct trade-offs.