Cost of living comparison

compared to

Iceland vs. Akranes Cost of Living Summary

Iceland is 2.0% more expensive than Akranes.

Restaurants: pay 0.7% less in Iceland
Groceries: pay 8.3% more in Iceland
Transportation: pay 15.3% more in Iceland
Housing: pay 1.2% less in Iceland
Childcare: pay 2.1% more in Iceland
Entertainment and Sports: pay 1.7% less in Iceland
Clothing: pay 8.2% less in Iceland

The cost of transportation, groceries, and childcare in Iceland are more expensive than in Akranes. Expenses including clothing, entertainment and sports, housing, and restaurants are lower in Iceland.

Iceland vs. Akranes Cost Breakdown

If you lived in Iceland instead of Akranes, you would:

Display currency: USD

pay 0.7% less for restaurants

	Akranes	Iceland
Basic meal with drink at inexpensive restaurant	$27.48 ISK3,517	$26.52 ISK3,394	-3.5%
Fast food combo meal McDonalds, or similar	$22.76 ISK2,913	$21.32 ISK2,728	-6.3%
Bottle of Coca-Cola (11 fl. oz)	$3.24 ISK415	$3.11 ISK398	-4.0%
Bottle of water (11 fl. oz)	$2.45 ISK314	$2.72 ISK348	+10.9%
Average			-0.7%

Akranes vs. Iceland - Cost of restaurants

Improve prices · Change currency (USD)

pay 8.3% more for groceries

	Akranes	Iceland
Bread 1 loaf	$2.05 ISK262	$3.80 ISK487	+85.4%
Local cheese (8 oz)	$9.44 ISK1,208	$9.44 ISK1,208
Milk (1 gallon)	$7.63 ISK976	$7.78 ISK996	+2.0%
Eggs 1 dozen	$6.15 ISK787	$6.71 ISK859	+9.1%
Boneless chicken breast (1 lb)	$11.29 ISK1,445	$11.22 ISK1,436	-0.7%
Apples (1 lb)	$1.59 ISK204	$1.50 ISK191	-6.0%
Bananas (1 lb)	$1.17 ISK150	$1.15 ISK147	-1.9%
Oranges (1 lb)	$1.49 ISK190	$1.41 ISK181	-5.0%
Tomatoes (1 lb)	$2.23 ISK286	$2.34 ISK300	+4.8%
Potatoes (1 lb)	$1.70 ISK217	$1.65 ISK211	-2.9%
Onions (1 lb)	$1.12 ISK143	$1.09 ISK140	-2.0%
Average			+8.3%

Akranes vs. Iceland - Cost of groceries

Improve prices · Change currency (USD)

pay 15.3% more for transportation

	Akranes	Iceland
Gasoline (1 gallon)	$9.66 ISK1,236	$9.65 ISK1,235	-0.1%
Monthly public transit pass	$73.82 ISK9,447	$79.56 ISK10,182	+7.8%
New Volkswagen Golf 1.4 (standard edition)	$50,771.00 ISK6,497,672	$49,144.25 ISK6,289,481	-3.2%
Taxi trip in downtown area (5 miles)	$16.32 ISK2,089	$25.55 ISK3,270	+56.6%
Average			+15.3%

Akranes vs. Iceland - Cost of transportation

Improve prices · Change currency (USD)

pay 1.2% less for housing

	Akranes	Iceland
Internet connection 50 mbps or faster, cable/dsl	$81.97 ISK10,490	$95.65 ISK12,241	+16.7%
1-Bedroom apartment in downtown area	$3,034.78 ISK388,391	$2,289.17 ISK292,968	-24.6%
1-Bedroom apartment outside city center	$1,906.99 ISK244,056	$1,830.04 ISK234,209	-4.0%
Utilities for two (700 sq ft apartment) including electric, gas, water, heating	$60.87 ISK7,791	$65.15 ISK8,338	+7.0%
Average			-1.2%

Akranes vs. Iceland - Cost of housing

Improve prices · Change currency (USD)

pay 2.1% more for childcare

	Akranes	Iceland
Private preschool for 1 child, monthly	$327.78 ISK41,949	$334.67 ISK42,830	+2.1%
Middle school for 1 child, two semesters	$30,711.08 ISK3,930,404	$30,711.08 ISK3,930,404
Average			+2.1%

Akranes vs. Iceland - Cost of childcare

Improve prices · Change currency (USD)

pay 1.7% less for entertainment and sports

	Akranes	Iceland
Domestic/local beer (1 pint)	$10.66 ISK1,365	$11.14 ISK1,426	+4.5%
Cappuccino in mid-range area	$6.15 ISK787	$5.62 ISK720	-8.6%
Pack of cigarettes Marlboro or similar	$13.94 ISK1,783	$13.90 ISK1,778	-0.3%
Monthly membership at local gym	??	$78.17 ISK10,004
Movie ticket to theater/cinema	$17.18 ISK2,199	$16.75 ISK2,144	-2.5%
Average			-1.7%

Akranes vs. Iceland - Cost of entertainment and sports

Improve prices · Change currency (USD)

pay 8.2% less for clothing

	Akranes	Iceland
Regular jeans Levi's brand	$145.10 ISK18,569	$130.91 ISK16,753	-9.8%
Regular dress from H&M or similar store	$63.97 ISK8,187	$61.83 ISK7,913	-3.3%
Running shoes Nike or Adidas	$193.43 ISK24,755	$163.81 ISK20,965	-15.3%
Men's business shoes (leather)	$248.79 ISK31,840	$237.31 ISK30,371	-4.6%
Average			-8.2%

Akranes vs. Iceland - Cost of clothing

Improve prices · Change currency (USD)

The statistics used to build this comparison are calculated using data from users just like you. We average the price of thousands of data points entered by users across the world. Learn more about our data sources. Page last updated: December 2025

More cost comparisons

Akranes vs.

Warsaw

Akranes vs.

Rome

Akranes vs.

Washington

Akranes vs.

Ankara

Akranes vs.

Madrid

Akranes vs.

Berlin

Akranes vs.

Cairo

Akranes vs.

London

Share this

Help us improve these prices

MyLifeElsewhere is a collaborative project. Please enter price information for your location to help assist us in making these comparisons more accurate. Learn more

Add prices for Akranes

Add prices for Iceland

ASK THE ELSEWHERE COMMUNITY

Join the Elsewhere community and ask a question about Iceland or Akranes. It's a free, question-and-answer based forum to discuss what life is like in countries and cities around the world.