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

Monthly Cost of Living

A single person spends $3,532 per month in Selfoss vs $4,048 in Reykjavik, rent included.

A couple spends around $2,484 per month in Selfoss vs $5,736 in Reykjavik, rent included.

A family of three spends $1,437 per month in Selfoss vs $7,424 in Reykjavik, rent included.

Selfoss is about 13% cheaper than Reykjavik, driven mainly by Eating Out.

Both Selfoss and Reykjavik sit above the global median – Selfoss by 157%, Reykjavik by 195%.

Meal at Budget Restaurant

$30.26 ISK 3,667

Three-Course Dinner for Two, Mid-Range

$135 ISK 16.4K

Fast Food Meal (McDonalds, etc)

$20.68 ISK 2,506

$26.29 ISK 3,186

-21.34%

Cappuccino

$6.95 ISK 842

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

$3.30 ISK 400

Water (0.33 liter bottle)

$3.35 ISK 406

Local Beer (0.5 liter draught)

$12.61 ISK 1,529

$14.06 ISK 1,704

-10.31%

Imported Beer (0.33 liter bottle)

$12.60 ISK 1,527

Milk (1 liter)

$1.73 ISK 209

$2.10 ISK 254

-17.62%

White Bread (500g)

$7.63 ISK 925

$4.47 ISK 542

70.69%

Rice (white) (1kg)

$4.43 ISK 537

$3.59 ISK 436

23.40%

Eggs

$6.36 ISK 770

$7.13 ISK 865

-10.80%

Local Cheese (1kg)

$17.11 ISK 2,073

$21.34 ISK 2,586

-19.82%

Chicken Fillets (1kg)

$21.32 ISK 2,583

$24.37 ISK 2,953

-12.52%

Beef Round Steak (1kg)

$33.82 ISK 4,098

$42.10 ISK 5,102

-19.67%

Apples (1kg)

$2.72 ISK 329

$3.35 ISK 406

-18.81%

Banana (1kg)

$2.69 ISK 326

$2.82 ISK 341

-4.61%

Oranges (1kg)

$2.70 ISK 327

$3.21 ISK 389

-15.89%

Tomato (1kg)

$7.46 ISK 904

$6.24 ISK 756

19.55%

Potato (1kg)

$3.23 ISK 392

$4.01 ISK 487

-19.45%

Onion (1kg)

$2.08 ISK 252

$1.70 ISK 206

22.35%

Lettuce (1 head)

$3.65 ISK 442

$3.83 ISK 464

-4.70%

Water (1.5 liter bottle)

$1.41 ISK 170

$1.78 ISK 216

-20.79%

Cigarettes 20 Pack (Marlboro, Camel)

$15.32 ISK 1,856

$13.75 ISK 1,666

11.42%

Wine (Bottle)

$24.28 ISK 2,942

Local Beer (0.5 liter bottle)

$3.79 ISK 460

Imported Beer (0.33 liter bottle)

$1.18 ISK 143

$3.45 ISK 418

-65.80%

One-way Ticket (Public Transport)

$5.81 ISK 704

Public Transport Monthly Pass (Regular Price)

$92.7 ISK 11.2K

Taxi Start (Normal Tariff)

$6.84 ISK 829

Taxi (Normal Tariff) (1km)

$2.90 ISK 352

Taxi 1hour Waiting (Normal Tariff)

$74.5 ISK 9,033

Gasoline (1 liter)

$2.00 ISK 242

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

$50.6K ISK 6.1M

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

$53.4K ISK 6.5M

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

$89.6 ISK 10.9K

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

$33.11 ISK 4,013

Internet (50+ Mbps, Unlimited Data)

$85.1 ISK 10.3K

Gym Membership (Monthly)

$99.0 ISK 12.0K

Tennis Court (1 Hour on Weekend)

$50.3 ISK 6,100

Cinema Ticket

$19.43 ISK 2,354

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

$1,173 ISK 142.1K

International Primary School, 1 Child (Yearly)

$31.2K ISK 3.8M

Jeans (Levis 501 Or Similar)

$161 ISK 19.5K

Summer Dress (H&M, Zara, etc)

$65.1 ISK 7,890

Sport Shoes (Adidas, Nike)

$183 ISK 22.2K

Men's Leather Business Shoes

$249 ISK 30.2K

1-bedroom Apartment, City Center (Monthly)

$2,506 ISK 303.7K

1-bedroom Apartment, Outside City Center (Monthly)

$2,961 ISK 358.8K

$2,092 ISK 253.5K

41.54%

3-bedroom Apartment, City Center (Monthly)

$3,408 ISK 413.0K

3-bedroom Apartment, Outside City Center (Monthly)

$2,752 ISK 333.5K

Buy Apartment in City Center (m2)

$7,972 ISK 966.1K

Buy Apartment Outside City Center (m2)

$6,354 ISK 770.0K

Average Monthly Net Salary (After Tax)

$4,606 ISK 558.1K

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: August 30, 2026

Last update for Reykjavik: August 29, 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 15% 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 $5,298 per month in Selfoss and $6,073 in Reykjavik. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Monthly expenses with rent come to $3,532 in Selfoss and $4,048 in Reykjavik. The difference isn't just one category – it shows up across housing, food, transport, and services.

Groceries cost about 20% 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 $3,532, than in Reykjavik at $4,048. 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 $3,532 versus $4,048 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.