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

Monthly Cost of Living

A single person spends $3,559 per month in Selfoss vs $3,869 in Reykjavik, rent included.

A couple spends around $2,492 per month in Selfoss vs $5,475 in Reykjavik, rent included.

A family of three spends $1,424 per month in Selfoss vs $7,081 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

$27.43 ISK 3,418

Three-Course Dinner for Two, Mid-Range

$142 ISK 17.7K

Fast Food Meal (McDonalds, etc)

$19.97 ISK 2,488

$22.54 ISK 2,809

-11.40%

Cappuccino

$6.05 ISK 754

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

$3.22 ISK 402

Water (0.33 liter bottle)

$2.52 ISK 314

Local Beer (0.5 liter draught)

$11.83 ISK 1,474

$12.93 ISK 1,611

-8.51%

Imported Beer (0.33 liter bottle)

$11.39 ISK 1,420

Milk (1 liter)

$1.69 ISK 210

$1.89 ISK 235

-10.58%

White Bread (500g)

$7.51 ISK 936

$4.19 ISK 522

79.24%

Rice (white) (1kg)

$4.32 ISK 538

$3.54 ISK 441

22.03%

Eggs

$6.46 ISK 806

$6.31 ISK 786

2.38%

Local Cheese (1kg)

$16.56 ISK 2,064

$18.00 ISK 2,243

-8.00%

Chicken Fillets (1kg)

$20.80 ISK 2,591

$24.46 ISK 3,048

-14.96%

Beef Round Steak (1kg)

$33.49 ISK 4,173

$41.94 ISK 5,226

-20.15%

Apples (1kg)

$2.63 ISK 328

$3.33 ISK 415

-21.02%

Banana (1kg)

$2.55 ISK 317

$2.40 ISK 300

6.25%

Oranges (1kg)

$2.67 ISK 333

$3.03 ISK 377

-11.88%

Tomato (1kg)

$6.98 ISK 870

$5.13 ISK 639

36.06%

Potato (1kg)

$3.22 ISK 401

$3.66 ISK 455

-12.02%

Onion (1kg)

$2.02 ISK 252

$2.42 ISK 302

-16.53%

Lettuce (1 head)

$3.51 ISK 438

$3.17 ISK 394

10.73%

Water (1.5 liter bottle)

$1.38 ISK 172

$1.93 ISK 241

-28.50%

Cigarettes 20 Pack (Marlboro, Camel)

$14.97 ISK 1,866

$13.76 ISK 1,714

8.79%

Wine (Bottle)

$22.67 ISK 2,825

Local Beer (0.5 liter bottle)

$3.75 ISK 467

Imported Beer (0.33 liter bottle)

$1.10 ISK 137

$3.26 ISK 406

-66.26%

One-way Ticket (Public Transport)

$5.30 ISK 661

Public Transport Monthly Pass (Regular Price)

$88.2 ISK 11.0K

Taxi Start (Normal Tariff)

$6.51 ISK 811

Taxi (Normal Tariff) (1km)

$2.57 ISK 321

Taxi 1hour Waiting (Normal Tariff)

$86.4 ISK 10.8K

Gasoline (1 liter)

$2.52 ISK 314

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

$47.7K ISK 5.9M

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

$51.8K ISK 6.5M

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

$87.1 ISK 10.9K

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

$27.13 ISK 3,380

Internet (50+ Mbps, Unlimited Data)

$85.4 ISK 10.6K

Gym Membership (Monthly)

$84.0 ISK 10.5K

Tennis Court (1 Hour on Weekend)

$38.12 ISK 4,750

Cinema Ticket

$17.35 ISK 2,162

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

$319 ISK 39.8K

International Primary School, 1 Child (Yearly)

$30.7K ISK 3.8M

Jeans (Levis 501 Or Similar)

$138 ISK 17.1K

Summer Dress (H&M, Zara, etc)

$62.8 ISK 7,821

Sport Shoes (Adidas, Nike)

$182 ISK 22.7K

Men's Leather Business Shoes

$269 ISK 33.5K

1-bedroom Apartment, City Center (Monthly)

$2,254 ISK 280.8K

1-bedroom Apartment, Outside City Center (Monthly)

$2,927 ISK 364.7K

$2,008 ISK 250.2K

45.80%

3-bedroom Apartment, City Center (Monthly)

$3,231 ISK 402.6K

3-bedroom Apartment, Outside City Center (Monthly)

$2,756 ISK 343.4K

Buy Apartment in City Center (m2)

$7,955 ISK 991.2K

Buy Apartment Outside City Center (m2)

$6,156 ISK 767.1K

Average Monthly Net Salary (After Tax)

$4,438 ISK 553.0K

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: July 12, 2026

Last update for Reykjavik: July 11, 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 $5,339 per month in Selfoss and $5,803 in Reykjavik. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Monthly expenses with rent come to $3,559 in Selfoss and $3,869 in Reykjavik. The difference isn't just one category – it shows up across housing, food, transport, and services.

Groceries cost about 16% 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 $3,559, than in Reykjavik at $3,869. 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 $3,559 versus $3,869 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.