Cost of Living Comparison Between Selfoss and Keflavik Cost of Living Comparison Between Selfoss and Keflavik

Monthly Cost of Living

Monthly costs for one person with rent: $3,514 in Selfoss versus $3,012 in Keflavik.

Estimated couple costs with rent: $2,499 in Selfoss versus $4,626 in Keflavik.

Monthly costs for a family of three with rent: $1,484 in Selfoss versus $6,240 in Keflavik.

Living in Selfoss is roughly 17% more expensive than in Keflavik, driven mainly by Clothing & Footwear.

Both cities are pricier than the global median: Selfoss 161% above, Keflavik 123% above.

Meal at Budget Restaurant

$24.69 ISK 2,989

Three-Course Dinner for Two, Mid-Range

$134 ISK 16.2K

Fast Food Meal (McDonalds, etc)

$20.57 ISK 2,490

$20.31 ISK 2,459

1.28%

Cappuccino

$4.00 ISK 485

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

$3.37 ISK 408

Water (0.33 liter bottle)

$3.27 ISK 397

Local Beer (0.5 liter draught)

$12.39 ISK 1,501

$8.22 ISK 995

50.73%

Imported Beer (0.33 liter bottle)

$8.39 ISK 1,015

Milk (1 liter)

$1.73 ISK 209

$2.05 ISK 249

-15.61%

White Bread (500g)

$7.52 ISK 910

$4.42 ISK 536

70.14%

Rice (white) (1kg)

$4.57 ISK 554

$2.41 ISK 292

89.63%

Eggs

$6.39 ISK 773

$6.28 ISK 760

1.75%

Local Cheese (1kg)

$17.14 ISK 2,075

$19.22 ISK 2,327

-10.82%

Chicken Fillets (1kg)

$21.36 ISK 2,587

$24.61 ISK 2,980

-13.21%

Beef Round Steak (1kg)

$33.54 ISK 4,061

$42.48 ISK 5,144

-21.05%

Apples (1kg)

$2.76 ISK 335

$2.45 ISK 296

12.65%

Banana (1kg)

$2.68 ISK 325

$2.49 ISK 302

7.63%

Oranges (1kg)

$2.77 ISK 335

$2.40 ISK 291

15.42%

Tomato (1kg)

$7.06 ISK 855

$4.02 ISK 487

75.62%

Potato (1kg)

$3.22 ISK 390

$3.14 ISK 380

2.55%

Onion (1kg)

$2.10 ISK 255

$1.67 ISK 202

25.75%

Lettuce (1 head)

$3.59 ISK 435

$3.74 ISK 453

-4.01%

Water (1.5 liter bottle)

$1.42 ISK 171

$1.78 ISK 216

-20.22%

Cigarettes 20 Pack (Marlboro, Camel)

$15.41 ISK 1,866

$13.93 ISK 1,687

10.62%

Wine (Bottle)

$16.34 ISK 1,978

Local Beer (0.5 liter bottle)

$3.68 ISK 446

Imported Beer (0.33 liter bottle)

$1.13 ISK 136

$2.95 ISK 357

-61.69%

One-way Ticket (Public Transport)

$3.64 ISK 441

Public Transport Monthly Pass (Regular Price)

$78.2 ISK 9,474

Taxi Start (Normal Tariff)

$6.53 ISK 791

Taxi (Normal Tariff) (1km)

$2.61 ISK 316

Taxi 1hour Waiting (Normal Tariff)

$75.5 ISK 9,136

Gasoline (1 liter)

$2.00 ISK 242

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

$50.1K ISK 6.1M

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

$54.0K ISK 6.5M

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

$88.9 ISK 10.8K

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

$32.33 ISK 3,915

Internet (50+ Mbps, Unlimited Data)

$82.9 ISK 10.0K

Gym Membership (Monthly)

$81.0 ISK 9,813

Cinema Ticket

$19.50 ISK 2,361

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

$406 ISK 49.2K

International Primary School, 1 Child (Yearly)

$30.5K ISK 3.7M

Jeans (Levis 501 Or Similar)

$160 ISK 19.4K

Summer Dress (H&M, Zara, etc)

$66.5 ISK 8,047

Sport Shoes (Adidas, Nike)

$180 ISK 21.8K

Men's Leather Business Shoes

$196 ISK 23.7K

1-bedroom Apartment, City Center (Monthly)

$1,900 ISK 230.0K

1-bedroom Apartment, Outside City Center (Monthly)

$2,898 ISK 350.9K

$1,361 ISK 164.8K

112.95%

3-bedroom Apartment, City Center (Monthly)

$2,547 ISK 308.5K

3-bedroom Apartment, Outside City Center (Monthly)

$2,097 ISK 253.9K

Average Monthly Net Salary (After Tax)

$3,760 ISK 455.3K

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 21, 2026

Last update for Keflavik: September 20, 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 Keflavik: Cost of Living - Frequently Asked Questions

Selfoss and Keflavik differ by about 17% in total monthly costs ($3,514 vs $3,012 including rent). Keflavik is meaningfully more affordable – a gap that matters a lot on a fixed or modest income.

You'd need roughly $5,271 in Selfoss and $4,517 in Keflavik 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 10% less for everyday groceries. It's an unusual reversal that partly offsets higher costs elsewhere.

All in, you'll spend $3,514 per month in Selfoss versus $3,012 in Keflavik – a 17% gap that adds up to real savings over time for anyone picking the cheaper option.

At $3,012 in Keflavik versus $3,514 in Selfoss, a $2,000 budget is realistic in Keflavik but tight or insufficient in Selfoss. The gap between the two cities makes Keflavik 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 Keflavik 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 Keflavik gentler on the wallet – expenses run 17% less than in Selfoss. Beyond cost, consider language, visa policies, and how big the international community is in each city.