Cost of Living Comparison Between Selfoss and Reykjavik Cost of Living Comparison Between Selfoss and Reykjavik

Monthly Cost of Living

A single person spends $3,570 per month in Selfoss vs $3,883 in Reykjavik, rent included.

A couple spends around $2,495 per month in Selfoss vs $5,535 in Reykjavik, rent included.

A family of three spends $1,420 per month in Selfoss vs $7,188 in Reykjavik, rent included.

Selfoss is about 8% cheaper than Reykjavik, driven mainly by Eating Out.

Both Selfoss and Reykjavik sit above the global median – Selfoss by 166%, Reykjavik by 190%.

Meal at Budget Restaurant

$27.17 ISK 3,346

Three-Course Dinner for Two, Mid-Range

$144 ISK 17.7K

Fast Food Meal (McDonalds, etc)

$20.29 ISK 2,498

$22.42 ISK 2,761

-9.50%

Cappuccino

$6.19 ISK 763

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

$3.28 ISK 405

Water (0.33 liter bottle)

$2.53 ISK 311

Local Beer (0.5 liter draught)

$11.95 ISK 1,471

$13.11 ISK 1,615

-8.85%

Imported Beer (0.33 liter bottle)

$11.43 ISK 1,408

Milk (1 liter)

$1.72 ISK 212

$1.94 ISK 239

-11.34%

White Bread (500g)

$7.35 ISK 906

$4.29 ISK 528

71.33%

Rice (white) (1kg)

$4.47 ISK 550

$3.72 ISK 458

20.16%

Eggs

$6.25 ISK 769

$6.53 ISK 804

-4.29%

Local Cheese (1kg)

$16.79 ISK 2,067

$17.88 ISK 2,202

-6.10%

Chicken Fillets (1kg)

$21.12 ISK 2,601

$24.10 ISK 2,968

-12.37%

Beef Round Steak (1kg)

$32.72 ISK 4,029

$42.88 ISK 5,281

-23.69%

Apples (1kg)

$2.77 ISK 342

$3.35 ISK 412

-17.31%

Banana (1kg)

$2.57 ISK 317

$2.51 ISK 309

2.39%

Oranges (1kg)

$2.72 ISK 335

$3.13 ISK 385

-13.10%

Tomato (1kg)

$7.27 ISK 895

$4.89 ISK 602

48.67%

Potato (1kg)

$3.04 ISK 374

$3.71 ISK 457

-18.06%

Onion (1kg)

$2.03 ISK 250

$2.32 ISK 285

-12.50%

Lettuce (1 head)

$3.43 ISK 422

$3.07 ISK 378

11.73%

Water (1.5 liter bottle)

$1.38 ISK 170

$1.99 ISK 246

-30.65%

Cigarettes 20 Pack (Marlboro, Camel)

$15.40 ISK 1,896

$13.85 ISK 1,705

11.19%

Wine (Bottle)

$23.47 ISK 2,891

Local Beer (0.5 liter bottle)

$3.62 ISK 446

Imported Beer (0.33 liter bottle)

$1.13 ISK 139

$3.38 ISK 416

-66.57%

One-way Ticket (Public Transport)

$5.10 ISK 628

Public Transport Monthly Pass (Regular Price)

$85.4 ISK 10.5K

Taxi Start (Normal Tariff)

$6.28 ISK 773

Taxi (Normal Tariff) (1km)

$2.57 ISK 317

Taxi 1hour Waiting (Normal Tariff)

$85.8 ISK 10.6K

Gasoline (1 liter)

$2.52 ISK 310

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

$47.2K ISK 5.8M

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

$51.8K ISK 6.4M

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

$86.9 ISK 10.7K

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

$26.94 ISK 3,317

Internet (50+ Mbps, Unlimited Data)

$85.9 ISK 10.6K

Gym Membership (Monthly)

$83.4 ISK 10.3K

Tennis Court (1 Hour on Weekend)

$37.54 ISK 4,623

Cinema Ticket

$17.53 ISK 2,159

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

$321 ISK 39.5K

International Primary School, 1 Child (Yearly)

$30.2K ISK 3.7M

Jeans (Levis 501 Or Similar)

$140 ISK 17.2K

Summer Dress (H&M, Zara, etc)

$60.6 ISK 7,456

Sport Shoes (Adidas, Nike)

$181 ISK 22.3K

Men's Leather Business Shoes

$263 ISK 32.4K

1-bedroom Apartment, City Center (Monthly)

$2,175 ISK 267.8K

1-bedroom Apartment, Outside City Center (Monthly)

$2,924 ISK 360.1K

$2,023 ISK 249.2K

44.53%

3-bedroom Apartment, City Center (Monthly)

$3,139 ISK 386.6K

3-bedroom Apartment, Outside City Center (Monthly)

$2,738 ISK 337.1K

Buy Apartment in City Center (m2)

$8,022 ISK 987.9K

Buy Apartment Outside City Center (m2)

$6,223 ISK 766.3K

Average Monthly Net Salary (After Tax)

$4,441 ISK 546.9K

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: May 30, 2026

Last update for Reykjavik: May 30, 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 Reykjavik: Cost of Living - Frequently Asked Questions

Reykjavik costs about 9% 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 $5,355 per month in Selfoss and $5,824 in Reykjavik. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Monthly expenses with rent come to $3,570 in Selfoss and $3,883 in Reykjavik. The difference isn't just one category – it shows up across housing, food, transport, and services.

Groceries cost about 17% more in Reykjavik, 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 $3,570, than in Reykjavik at $3,883. In Selfoss it covers expenses comfortably, while in Reykjavik it requires careful planning or may not stretch far enough.

For digital nomads, it depends on budget. Selfoss costs $3,570 versus $3,883 in Reykjavik. Both have workable remote work infrastructure, but the cost gap matters when income varies month to month.

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, Reykjavik makes more sense. Both are solid long-term options with distinct trade-offs.