Cost of Living in Reykjavik, Iceland

Reykjavik has a cost of living index of 89/100 (New York = 100). It is 11% cheaper than New York. Data sourced live via AI — updated regularly.

89/100
Cost Index
$4,652/mo
Median Income
76/100
Safety Index
subpolar oceanic
Climate

Cost Breakdown by Category

HousingScore: 85/100
1-Bed Apartment (City Center)$2,222/month
1-Bed Apartment (Outside Center)$1,861/month
3-Bed Apartment (City Center)$2,977/month
Food & GroceriesScore: 78/100
Milk (1 liter)$1.77/liter
Bread (500g loaf)$3.6/loaf
Rice (1 kg)$3.39/kg
Dining OutScore: 75/100
Meal at Inexpensive Restaurant$28.14/meal
Meal for 2 (Mid-Range)$100.15/meal
McMeal at McDonald's$12.2/meal
TransportationScore: 72/100
Monthly Transit Pass$78.9/month
One-Way Ticket$4.94/trip
Taxi (1 km)$2.57/km
UtilitiesScore: 75/100
Basic (Elec, Heat, Water, Garbage) 85m2$182.55/month
Internet (60+ Mbps)$59.4/month
Mobile Plan (10GB+)$42.54/month
HealthcareScore: 78/100
Doctor Visit (15 min)$86.59/visit
Dentist Visit$108.2/visit
Prescription Medicine (avg)$18.23/course
EntertainmentScore: 70/100
Cinema Ticket (1 seat)$15.28/ticket
Theater Ticket$48.6/ticket
Museum Entry$18.23/ticket
FitnessScore: 68/100
Gym Membership (monthly)$54.9/month
Tennis Court Rent (1 hr)$24.42/hour
Swimming Pool (adult entry)$9.76/entry
Personal CareScore: 65/100
Haircut (Men)$24.42/cut
Haircut (Women)$48.84/cut
Shampoo (400ml)$6.11/bottle
ClothingScore: 68/100
Jeans (Levi's or similar)$79.49/pair
Summer Dress (Zara/H&M)$48.84/piece
Running Shoes (Nike/Adidas)$109.8/pair

Digital Nomad Profile

95 Mbps
Internet Speed
$250
Coworking/Month
excellent
Café WiFi
high
English Level
growing
Nomad Community
78/100
Walkability

Best neighborhoods: 101 Reykjavik, Ratartunga, Byggunni

Frequently Asked Questions

Is Reykjavik cheap to live in?

Reykjavik has a cost of living index of 89/100, where New York = 100. It is 11% cheaper than New York. A single person can live comfortably for approximately $1,780–$2,492 per month.

How much does rent cost in Reykjavik?

A 1-bedroom apartment in the city center of Reykjavik costs approximately $2,222/month. Outside the center, expect to pay around $1,861/month.

Is Reykjavik good for digital nomads?

Reykjavik has a growing digital nomad community. Average internet speed is 95 Mbps, café wifi reliability is excellent, and coworking spaces run about $250/month. English proficiency is high.

What is the average salary in Reykjavik?

The median net monthly salary in Reykjavik is approximately $4,652 USD. The income tax rate is around 31.49%.

How does Reykjavik compare to New York for cost of living?

Reykjavik (cost index 89) is 11% cheaper than New York (cost index 100). You could save roughly $275/month by moving from New York to Reykjavik.

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