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: $3,533 in Selfoss versus $2,826 in Keflavik.

Estimated couple costs with rent: $2,478 in Selfoss versus $4,368 in Keflavik.

Monthly costs for a family of three with rent: $1,422 in Selfoss versus $5,910 in Keflavik.

Living in Selfoss is roughly 25% more expensive than Keflavik, driven mainly by Eating Out.

Both cities are pricier than the global median: Selfoss 163% above, Keflavik 110% above.

Meal at Budget Restaurant

$24.41 ISK 3,039

Three-Course Dinner for Two, Mid-Range

$147 ISK 18.2K

Fast Food Meal (McDonalds, etc)

$19.63 ISK 2,444

$20.33 ISK 2,531

-3.44%

Cappuccino

$3.94 ISK 491

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

$3.13 ISK 390

Water (0.33 liter bottle)

$2.53 ISK 314

Local Beer (0.5 liter draught)

$12.26 ISK 1,527

$8.12 ISK 1,011

50.99%

Imported Beer (0.33 liter bottle)

$8.23 ISK 1,024

Milk (1 liter)

$1.75 ISK 218

$1.93 ISK 241

-9.33%

White Bread (500g)

$7.42 ISK 924

$4.15 ISK 517

78.80%

Rice (white) (1kg)

$4.32 ISK 538

$2.35 ISK 293

83.83%

Eggs

$6.22 ISK 774

$6.18 ISK 769

0.65%

Local Cheese (1kg)

$16.97 ISK 2,113

$18.22 ISK 2,268

-6.86%

Chicken Fillets (1kg)

$21.17 ISK 2,635

$23.63 ISK 2,942

-10.41%

Beef Round Steak (1kg)

$33.10 ISK 4,121

$43.19 ISK 5,377

-23.36%

Apples (1kg)

$2.76 ISK 344

$2.36 ISK 293

16.95%

Banana (1kg)

$2.59 ISK 322

$2.43 ISK 303

6.58%

Oranges (1kg)

$2.57 ISK 320

$2.39 ISK 298

7.53%

Tomato (1kg)

$7.15 ISK 891

$4.04 ISK 503

76.98%

Potato (1kg)

$3.14 ISK 391

$3.04 ISK 378

3.29%

Onion (1kg)

$2.07 ISK 257

$2.04 ISK 254

1.47%

Lettuce (1 head)

$3.59 ISK 447

$3.14 ISK 391

14.33%

Water (1.5 liter bottle)

$1.34 ISK 167

$1.95 ISK 243

-31.28%

Cigarettes 20 Pack (Marlboro, Camel)

$15.37 ISK 1,914

$13.53 ISK 1,685

13.60%

Wine (Bottle)

$15.82 ISK 1,970

Local Beer (0.5 liter bottle)

$3.75 ISK 466

Imported Beer (0.33 liter bottle)

$1.10 ISK 137

$2.74 ISK 341

-59.85%

One-way Ticket (Public Transport)

$3.57 ISK 444

Public Transport Monthly Pass (Regular Price)

$75.1 ISK 9,355

Taxi Start (Normal Tariff)

$6.45 ISK 804

Taxi (Normal Tariff) (1km)

$2.30 ISK 286

Taxi 1hour Waiting (Normal Tariff)

$85.4 ISK 10.6K

Gasoline (1 liter)

$2.47 ISK 308

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

$47.1K ISK 5.9M

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

$52.8K ISK 6.6M

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

$86.3 ISK 10.7K

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

$27.46 ISK 3,418

Internet (50+ Mbps, Unlimited Data)

$85.8 ISK 10.7K

Cinema Ticket

$17.45 ISK 2,173

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

$318 ISK 39.5K

International Primary School, 1 Child (Yearly)

$30.2K ISK 3.8M

Jeans (Levis 501 Or Similar)

$140 ISK 17.4K

Summer Dress (H&M, Zara, etc)

$62.6 ISK 7,790

Sport Shoes (Adidas, Nike)

$185 ISK 23.1K

Men's Leather Business Shoes

$184 ISK 22.9K

1-bedroom Apartment, City Center (Monthly)

$1,877 ISK 233.6K

1-bedroom Apartment, Outside City Center (Monthly)

$2,884 ISK 359.0K

$1,344 ISK 167.3K

114.63%

3-bedroom Apartment, City Center (Monthly)

$2,475 ISK 308.2K

3-bedroom Apartment, Outside City Center (Monthly)

$2,042 ISK 254.2K

Average Monthly Net Salary (After Tax)

$3,650 ISK 454.4K

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: June 8, 2026

Last update for Keflavik: June 8, 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 25% in total monthly costs ($3,533 vs $2,826 including rent). Keflavik is meaningfully more affordable – a gap that matters a lot on a fixed or modest income.

You'd need roughly $5,299 in Selfoss and $4,239 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 9% less for everyday groceries. It's an unusual reversal that partly offsets higher costs elsewhere.

All in, you'll spend $3,533 per month in Selfoss versus $2,826 in Keflavik – a 25% gap that adds up to real savings over time for anyone picking the cheaper option.

At $2,826 in Keflavik versus $3,533 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 25% less than in Selfoss. Beyond cost, consider language, visa policies, and how big the international community is in each city.