Capital city in Capital Region, Iceland
Cost of living in Reykjavik
How much a month costs in Reykjavik
For one person, including rent. A comfortable month costs about $4,930–6,570 (kr600,000–800,000).
Prices in Reykjavik
Typical 2026 ranges in ISK, rounded. US$ at the 03 Oct 2026 exchange rate.
| Item | ISK | US$ |
|---|---|---|
| Housing | ||
| 1-bedroom apartment, center (month) | kr280,000–420,000 | $2,300–3,450 |
| 1-bedroom apartment, outside center (month) | kr220,000–320,000 | $1,810–2,630 |
| Hostel dorm bed (night) | kr7,000–12,000 | $57–99 |
| Mid-range hotel room (night) | kr25,000–45,000 | $205–370 |
| Food and drink | ||
| Local meal or street food | kr2,500–3,500 | $21–29 |
| Mid-range restaurant, per person | kr5,500–8,500 | $45–70 |
| Cappuccino | kr700–1,000 | $5.7–8.2 |
| Local beer, 0.5 l in a bar | kr1,500–2,200 | $12.3–18.1 |
| Getting around | ||
| Public transport, one ride | kr650–800 | $5.3–6.6 |
| Ride-hailing or taxi, about 5 km | kr3,000–4,500 | $25–37 |
| Work and life | ||
| Gym membership (month) | kr12,000–20,000 | $99–164 |
| Mobile data, 20–50 GB (month) | kr3,000–5,500 | $25–45 |
Value for money: 4/100
A value score of 4/100 means Reykjavik gives more quality of life per dollar than 3% of the 1,319 places we cover. Quality here scores 86/100. It's the 2nd most affordable of 3 places we cover in Iceland.
| Quality factor | Score |
|---|---|
| Safety | |
| Air quality | |
| Internet | |
| Healthcare | |
| Weather | |
| Friendly locals | |
| English |
Cost of living across Iceland
One person, comfortable lifestyle, including rent.
Cheaper alternatives to Reykjavik
Similar safety, lower cost, in Europe.
| Place | Country | Comfortable month |
|---|---|---|
| Sibiu | Romania | $1,160–1,690 |
| Santiago de Compostela | Spain | $1,580–2,250 |
| Toledo | Spain | $1,690–2,360 |
| Córdoba | Spain | $1,690–2,360 |
| Coimbra | Portugal | $1,800–2,590 |
Quick answers
How much money do you need per month in Reykjavik?
About $3,120–3,940 on a lean budget, $4,930–6,570 for a comfortable month and $8,210–11,500 for a luxury one, rent included.
How much is rent in Reykjavik?
A furnished 1-bedroom apartment costs kr280,000–420,000 ($2,300–3,450) a month in the center and kr220,000–320,000 ($1,810–2,630) outside it.
How much does food cost in Reykjavik?
A local meal is kr2,500–3,500 ($21–29); a mid-range restaurant is kr5,500–8,500 ($45–70) per person.
Is Iceland expensive?
Prices in Iceland are about 118% of US price levels (World Bank PPP).
More about Reykjavik
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Sources
- ExchangeRate-API open rates
- World Bank: PPP conversion factor
- Strætó
- Keflavík Airport (Isavia)
- Visit Reykjavík
- SafeTravel Iceland
Prices are SoloSquare estimates for 2026, reviewed against official and operator prices where available. Compiled and reviewed by SoloSquare. How we compile and score this. Spotted something out of date? Tell us.