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

Monthly Cost of Living

A single person spends $3,564 per month in Selfoss vs $3,667 in Hafnarfjordur, rent included.

A couple spends around $2,499 per month in Selfoss vs $5,242 in Hafnarfjordur, rent included.

A family of three spends $1,435 per month in Selfoss vs $6,816 in Hafnarfjordur, rent included.

Selfoss is about 3% cheaper than Hafnarfjordur, driven mainly by Eating Out.

Both Selfoss and Hafnarfjordur sit above the global median – Selfoss by 166%, Hafnarfjordur by 174%.

Meal at Budget Restaurant

$26.49 ISK 3,243

Three-Course Dinner for Two, Mid-Range

$145 ISK 17.7K

Fast Food Meal (McDonalds, etc)

$20.26 ISK 2,481

$15.93 ISK 1,950

27.18%

Cappuccino

$6.21 ISK 760

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

$3.37 ISK 413

Water (0.33 liter bottle)

$2.63 ISK 322

Local Beer (0.5 liter draught)

$12.03 ISK 1,473

$12.82 ISK 1,569

-6.16%

Imported Beer (0.33 liter bottle)

$11.07 ISK 1,356

Milk (1 liter)

$1.74 ISK 213

$1.61 ISK 198

8.07%

White Bread (500g)

$7.26 ISK 889

$4.26 ISK 521

70.42%

Rice (white) (1kg)

$4.53 ISK 555

$3.70 ISK 453

22.43%

Eggs

$6.29 ISK 770

Local Cheese (1kg)

$16.50 ISK 2,021

$18.50 ISK 2,265

-10.81%

Chicken Fillets (1kg)

$20.92 ISK 2,561

$24.21 ISK 2,965

-13.59%

Beef Round Steak (1kg)

$33.41 ISK 4,091

$42.07 ISK 5,151

-20.58%

Apples (1kg)

$2.70 ISK 331

$3.24 ISK 396

-16.67%

Banana (1kg)

$2.62 ISK 320

$2.40 ISK 294

9.17%

Oranges (1kg)

$2.57 ISK 314

$3.00 ISK 367

-14.33%

Tomato (1kg)

$7.17 ISK 878

$4.93 ISK 603

45.44%

Potato (1kg)

$3.19 ISK 391

$3.51 ISK 430

-9.12%

Onion (1kg)

$2.05 ISK 251

$2.32 ISK 285

-11.64%

Lettuce (1 head)

$3.52 ISK 431

$3.16 ISK 386

11.39%

Water (1.5 liter bottle)

$1.38 ISK 169

$1.93 ISK 237

-28.50%

Cigarettes 20 Pack (Marlboro, Camel)

$14.96 ISK 1,832

$13.78 ISK 1,687

8.56%

Wine (Bottle)

$22.71 ISK 2,781

Local Beer (0.5 liter bottle)

$3.71 ISK 454

Imported Beer (0.33 liter bottle)

$1.15 ISK 140

$3.32 ISK 406

-65.36%

One-way Ticket (Public Transport)

$5.00 ISK 612

Public Transport Monthly Pass (Regular Price)

$83.2 ISK 10.2K

Taxi Start (Normal Tariff)

$6.31 ISK 772

Taxi (Normal Tariff) (1km)

$2.61 ISK 319

Taxi 1hour Waiting (Normal Tariff)

$87.5 ISK 10.7K

Gasoline (1 liter)

$2.51 ISK 308

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)

$52.6K ISK 6.4M

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

$69.6 ISK 8,521

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

$27.48 ISK 3,365

Internet (50+ Mbps, Unlimited Data)

$84.3 ISK 10.3K

Gym Membership (Monthly)

$63.1 ISK 7,729

Cinema Ticket

$16.36 ISK 2,003

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

$318 ISK 38.9K

International Primary School, 1 Child (Yearly)

$30.3K ISK 3.7M

Jeans (Levis 501 Or Similar)

$120 ISK 14.7K

Summer Dress (H&M, Zara, etc)

$60.6 ISK 7,421

Sport Shoes (Adidas, Nike)

$121 ISK 14.8K

Men's Leather Business Shoes

$263 ISK 32.3K

1-bedroom Apartment, City Center (Monthly)

$2,442 ISK 299.1K

1-bedroom Apartment, Outside City Center (Monthly)

$2,864 ISK 350.7K

$2,047 ISK 250.7K

39.89%

3-bedroom Apartment, City Center (Monthly)

$3,209 ISK 393.0K

3-bedroom Apartment, Outside City Center (Monthly)

$2,523 ISK 308.9K

Buy Apartment in City Center (m2)

$6,916 ISK 846.8K

Buy Apartment Outside City Center (m2)

$7,027 ISK 860.4K

Average Monthly Net Salary (After Tax)

$4,789 ISK 586.4K

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 Hafnarfjordur: April 26, 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 3% 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 $5,346 per month in Selfoss and $5,501 in Hafnarfjordur. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Monthly expenses with rent come to $3,564 in Selfoss and $3,667 in Hafnarfjordur. The difference isn't just one category – it shows up across housing, food, transport, and services.

Groceries cost about 16% 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 $3,564, than in Hafnarfjordur at $3,667. 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.