Reykjavik, Iceland

Cost of Living in Reykjavik, Iceland

Quick answer: As of 2026, living in Reykjavik costs approximately $2,849 per month for one person including rent. That is 76% above the $1,620 global median across the 340 cities in the Voyica Cost of Living Index 2026. Against its own region, where the median is $1,849, Reykjavik is on the more expensive side for Europe. A one-bedroom apartment in the city centre averages $2,395 per month, or $2,049 outside the centre. Day to day, an inexpensive restaurant meal runs about $28.43 and a monthly transit pass $88. For anyone weighing a longer stay, median internet speed is 318 Mbps and Reykjavik scores 96/100 on safety (very safe). Actual costs vary with lifestyle, neighbourhood, and exchange rates; figures come from crowd-sourced price data last refreshed June 2026. See the full Cost of Living Index →

Reykjavik is a city in Iceland, where a single person can expect to spend about $2,849 per month including rent, food, and local transport. A one-bedroom apartment in the city centre averages $2,395 per month, or $2,049 outside the centre. Internet is fast at around 318 Mbps median download speed. On safety, Reykjavik scores 96/100 — very safe for residents and visitors. Expect summer highs near 57°F and winter highs around 33°F, with roughly 68 sunny days a year.

Top for MountainTop for National ParkTop for VolcanoTop for WaterfallTop for WildlifeTop for HikingLGBTQ+ friendlyFamily friendlySafe tap water
Monthly Cost$2,849≈ $95/day
1BR Rent (Centre)$2,395
Internet318 Mbps
Safety96/100
Avg Temp45°F

Reykjavik Cost of Living Breakdown

🍽️ Dining

Inexpensive Restaurant$28.43
Mid-Range Restaurant (2 People)$121.84
McDonald's Combo Meal$22.74
Cappuccino$6.09
Domestic Beer (Restaurant)$12.39
Bottled Water (Restaurant)$2.82

🛒 Groceries

Milk (1 Liter)$1.95
Bread (1 lb Loaf)$3.98
Eggs (12)$6.76
Chicken Fillets (1 lb)$11.71
Apples (1 lb)$1.58
Bananas (1 lb)$1.20
Tomatoes (1 lb)$2.63
Potatoes (1 lb)$1.57
Water (1.5L Bottle)$1.88
Wine (Mid-Range Bottle)$23.96
Cigarettes (Marlboro)$13.81

🚌 Transportation

One-Way Ticket$5.44
Monthly Transit Pass$87.73
Taxi Start$6.66
Taxi (1 Mile)$4.51
Gasoline (1 Liter)$2.49
VW Golf (New)$50,280.24

⚡ Utilities & Tech

Basic Utilities (Monthly)$86.88
Mobile Phone Plan$31.10
Broadband Internet$87.06

🎬 Lifestyle

Gym Membership (Monthly)$93.77
Cinema Ticket$18.36
Preschool (Monthly)$728.94
Intl. Primary School (Annual)$30,414.22

👔 Clothing

Jeans (Levi's 501)$142.83
Nike Running Shoes$174.33

🏠 Housing

Rent 1BR (City Centre)$2,394.95
Rent 1BR (Outside Centre)$2,048.66
Rent 3BR (City Centre)$3,349.47
Rent 3BR (Outside Centre)$2,703.46
Buy Price/sqft (Centre)$728.69
Buy Price/sqft (Outside)$591.24

📊 Summary

Avg Monthly Net Salary$4,484.22
Mortgage Interest Rate8.74%

Lifestyle & Quality of Life in Reykjavik

Internet318 Mbps
Safety96/100
Healthcare70/100
Public Transit40/100
Walkability72/100
Nightlife50/100
Food Scene58/100
Fine Dining35/100
Coffee Culture72/100
Air Quality96/100
Green Spaces60/100
Culture60/100
Beaches15/100
Hiking95/100
Surfing10/100
Coworking Spaces12
US Visa-Free90 days

How Reykjavik Ranks Among 340 Cities

Of the 340 cities Voyica tracks, Reykjavik ranks in the top 1% for safety, but sits in the bottom 10% for food scene. It costs more than 89% of them.

MetricReykjavikWorld rankRank in Europe
Monthly cost$2,849#306 of 340#82 of 91
Safety96/100#1 of 340#1 of 91
Healthcare70/100#155 of 340#51 of 91
Internet speed318 Mbps#12 of 340#7 of 91
Walkability72/100#76 of 340#54 of 91
Public transit40/100#157 of 340#75 of 91
Food scene58/100#310 of 340#82 of 91
Air quality96/100#2 of 340#1 of 91

Rank 1 = most affordable, safest, and so on. Computed across every city in Voyica's dataset (June 2026 snapshot); ties share a rank.

Cheaper Alternatives to Reykjavik

Cities with a similar mix of safety, food, culture, walkability and climate that cost at least 15% less per month than Reykjavik.

Communities & Expat Groups

Iceland Digital Nomads

Reykjavik FAQ

How much does it cost to live in Reykjavik?

A single person should budget around $2,849 per month in Reykjavik, covering rent, groceries, transport, and basic lifestyle costs.

How much is rent in Reykjavik?

A one-bedroom apartment in central Reykjavik averages $2,395 per month, dropping to about $2,049 outside the centre. A three-bedroom in the centre runs about $3,349.

Is Reykjavik safe?

Reykjavik scores 96/100 on safety, which is very safe. Tourist safety is rated 95/100.

How fast is the internet in Reykjavik?

Median download speeds in Reykjavik are around 318 Mbps — fast for remote work and video calls. There are roughly 12 coworking spaces in the city.

Does Iceland offer a digital nomad visa?

Iceland does not currently offer a dedicated digital nomad visa. US passport holders can usually stay 90 days visa-free.

What is the weather like in Reykjavik?

Reykjavik sees summer highs around 57°F and winter highs near 33°F, with about 68 mostly sunny days a year and at least 1 mm of rain on about 144 days.

Reykjavik in our travel guides

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