Cost of Living

Reykjavik, Iceland

Live cost-of-living data for Reykjavik — rent, groceries, transport, healthcare and more, sourced and cross-checked by AI and refreshed regularly.

CheapestNew York = 100
66/ 10034% cheaper than New York
-4% rent since Jul 2026
$4,600/mo
Median Income
95/100
Safety
31.49%
Income Tax
subpolar oceanic
Climate

Cost Breakdown by Category

Each score runs 0–100, where higher means pricier. Representative prices shown per category.

Housing
78/100
1-Bed Apartment (City Center)$2,130/month
1-Bed Apartment (Outside Center)$1,540/month
3-Bed Apartment (City Center)$2,840/month
Food & Groceries
72/100
Milk (1 liter)$2.1/liter
Bread (500g loaf)$3.8/loaf
Rice (1 kg)$4.2/kg
Transportation
60/100
Monthly Transit Pass$94/month
One-Way Ticket$5.6/trip
Taxi (1 km)$1.8/km
Utilities
62/100
Basic (Elec, Heat, Water, Garbage) 85m2$140/month
Internet (60+ Mbps)$65/month
Mobile Plan (10GB+)$42/month
Healthcare
75/100
Doctor Visit (15 min)$120/visit
Dentist Visit$140/visit
Prescription Medicine (avg)$25/course
Education
70/100
Preschool/Kindergarten (monthly)$750/month
International Primary School (yearly)$18,000/year
Language Course (12 weeks)$650/course
Entertainment
65/100
Cinema Ticket (1 seat)$16/ticket
Theater Ticket$55/ticket
Museum Entry$20/ticket
Clothing
68/100
Jeans (Levi's or similar)$85/pair
Summer Dress (Zara/H&M)$55/piece
Running Shoes (Nike/Adidas)$115/pair
Personal Care
62/100
Haircut (Men)$35/cut
Haircut (Women)$60/cut
Shampoo (400ml)$7.5/bottle
Dining Out
70/100
Meal at Inexpensive Restaurant$24/meal
Meal for 2 (Mid-Range)$90/meal
McMeal at McDonald's$19/meal
Childcare
72/100
Full-Day Daycare (monthly)$1,200/month
Babysitter (per hour)$22/hour
Pack of Diapers (60 ct)$35/pack
Fitness & Sports
64/100
Gym Membership (monthly)$68/month
Tennis Court Rent (1 hr)$32/hour
Swimming Pool (adult entry)$12/entry

Digital Nomad Profile

289 Mbps
Internet Speed
$350
Coworking/Month
good
Café WiFi
high
English Level
growing
Nomad Community
78/100
Walkability

Best neighborhoods: Miðborg, Vesturbær, Hlíðar

Frequently Asked Questions

Is Reykjavik cheap to live in?

Reykjavik has a cost of living index of 66/100, where New York = 100. It is 34% cheaper than New York. A single person can live comfortably for approximately $2,360–$3,304 per month.

How much does rent cost in Reykjavik?

A 1-bedroom apartment in the city center of Reykjavik costs approximately $2,130/month. Outside the center, expect to pay around $1,540/month.

Is Reykjavik good for digital nomads?

Reykjavik has a growing digital nomad community. Average internet speed is 289 Mbps, café wifi reliability is good, and coworking spaces run about $350/month. English proficiency is high.

What is the average salary in Reykjavik?

The median net monthly salary in Reykjavik is approximately $4,600 USD. The income tax rate is around 31.49%.

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

Reykjavik (cost index 66) is 34% cheaper than New York (cost index 100). You could save roughly $850/month by moving from New York to Reykjavik.

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