Cost of Living Comparison Between Selfoss and Hafnarfjordur Cost of Living Comparison Between Selfoss and Hafnarfjordur

Monthly Cost of Living

A single person spends $3,496 per month in Selfoss vs $3,883 in Hafnarfjordur, rent included.

A couple spends around $2,470 per month in Selfoss vs $5,451 in Hafnarfjordur, rent included.

A family of three spends $1,444 per month in Selfoss vs $7,020 in Hafnarfjordur, rent included.

Selfoss is about 10% cheaper than Hafnarfjordur, driven mainly by Eating Out.

Both Selfoss and Hafnarfjordur sit above the global median – Selfoss by 156%, Hafnarfjordur by 184%.

Meal at Budget Restaurant

$29.94 ISK 3,646

Three-Course Dinner for Two, Mid-Range

$138 ISK 16.8K

Fast Food Meal (McDonalds, etc)

$20.93 ISK 2,549

$16.77 ISK 2,043

24.81%

Cappuccino

$6.76 ISK 824

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

$3.40 ISK 414

Water (0.33 liter bottle)

$3.19 ISK 389

Local Beer (0.5 liter draught)

$12.41 ISK 1,512

$14.25 ISK 1,735

-12.91%

Imported Beer (0.33 liter bottle)

$12.40 ISK 1,510

Milk (1 liter)

$1.76 ISK 215

$1.71 ISK 209

2.92%

White Bread (500g)

$7.28 ISK 886

$4.27 ISK 521

70.49%

Rice (white) (1kg)

$4.49 ISK 546

$3.68 ISK 448

22.01%

Eggs

$6.59 ISK 802

$7.36 ISK 896

-10.46%

Local Cheese (1kg)

$17.00 ISK 2,071

$21.02 ISK 2,560

-19.12%

Chicken Fillets (1kg)

$21.05 ISK 2,564

$25.05 ISK 3,051

-15.97%

Beef Round Steak (1kg)

$34.45 ISK 4,196

$42.64 ISK 5,193

-19.21%

Apples (1kg)

$2.74 ISK 333

$3.36 ISK 410

-18.45%

Banana (1kg)

$2.70 ISK 329

$2.49 ISK 303

8.43%

Oranges (1kg)

$2.64 ISK 321

$3.21 ISK 391

-17.76%

Tomato (1kg)

$7.04 ISK 857

$6.43 ISK 783

9.49%

Potato (1kg)

$3.27 ISK 398

$3.98 ISK 484

-17.84%

Onion (1kg)

$2.17 ISK 264

$1.65 ISK 201

31.52%

Lettuce (1 head)

$3.56 ISK 433

$3.79 ISK 461

-6.07%

Water (1.5 liter bottle)

$1.42 ISK 173

$1.82 ISK 221

-21.98%

Cigarettes 20 Pack (Marlboro, Camel)

$15.55 ISK 1,894

$14.15 ISK 1,724

9.89%

Wine (Bottle)

$23.99 ISK 2,922

Local Beer (0.5 liter bottle)

$3.86 ISK 471

Imported Beer (0.33 liter bottle)

$1.18 ISK 144

$3.45 ISK 421

-65.80%

One-way Ticket (Public Transport)

$5.33 ISK 649

Public Transport Monthly Pass (Regular Price)

$85.0 ISK 10.4K

Taxi Start (Normal Tariff)

$6.72 ISK 818

Taxi (Normal Tariff) (1km)

$2.80 ISK 341

Taxi 1hour Waiting (Normal Tariff)

$73.9 ISK 8,997

Gasoline (1 liter)

$1.93 ISK 235

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

$50.3K ISK 6.1M

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

$53.7K ISK 6.5M

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

$68.8 ISK 8,382

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

$33.41 ISK 4,070

Internet (50+ Mbps, Unlimited Data)

$84.7 ISK 10.3K

Gym Membership (Monthly)

$66.2 ISK 8,067

Cinema Ticket

$16.76 ISK 2,042

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

$1,190 ISK 145.0K

International Primary School, 1 Child (Yearly)

$31.5K ISK 3.8M

Jeans (Levis 501 Or Similar)

$124 ISK 15.1K

Summer Dress (H&M, Zara, etc)

$66.9 ISK 8,152

Sport Shoes (Adidas, Nike)

$122 ISK 14.8K

Men's Leather Business Shoes

$254 ISK 31.0K

1-bedroom Apartment, City Center (Monthly)

$2,445 ISK 297.8K

1-bedroom Apartment, Outside City Center (Monthly)

$2,832 ISK 344.9K

$2,055 ISK 250.4K

37.78%

3-bedroom Apartment, City Center (Monthly)

$3,353 ISK 408.4K

3-bedroom Apartment, Outside City Center (Monthly)

$2,683 ISK 326.7K

Buy Apartment in City Center (m2)

$7,113 ISK 866.4K

Buy Apartment Outside City Center (m2)

$7,146 ISK 870.4K

Average Monthly Net Salary (After Tax)

$4,674 ISK 569.3K

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 12, 2026

Last update for Hafnarfjordur: September 13, 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 Hafnarfjordur: Cost of Living - Frequently Asked Questions

Hafnarfjordur costs about 11% more than Selfoss, with the gap driven mainly by Eating Out. That's enough to noticeably affect everyday spending and lifestyle for anyone choosing between the two.

For a comfortable life, plan on about $5,244 per month in Selfoss and $5,824 in Hafnarfjordur. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Monthly expenses with rent come to $3,496 in Selfoss and $3,883 in Hafnarfjordur. The difference isn't just one category – it shows up across housing, food, transport, and services.

Groceries cost about 20% more in Hafnarfjordur, though it depends on what you buy. Local produce may be comparable; imported and premium items show the biggest price gap.

A $3,000 monthly budget goes further in Selfoss, where all-in costs run around $3,496, than in Hafnarfjordur at $3,883. In Selfoss it covers expenses comfortably, while in Hafnarfjordur it requires careful planning or may not stretch far enough.

Families tend to lean toward Selfoss – 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 Selfoss. If higher salaries, better infrastructure, or specific career opportunities are the priority, Hafnarfjordur makes more sense. Both are solid long-term options with distinct trade-offs.