Cost of living comparison

compared to

Keflavik vs. Iceland Cost of Living Summary

Keflavik is 4.7% cheaper than Iceland overall.

Restaurants: pay 1.6% less in Keflavik
Groceries: pay 8.1% less in Keflavik
Transportation: pay 2.0% more in Keflavik
Housing: pay 16.1% less in Keflavik
Childcare: pay 2.1% less in Keflavik
Entertainment and Sports: pay 9.2% less in Keflavik
Clothing: pay 2.1% more in Keflavik

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

Keflavik vs. Iceland Cost Breakdown

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

Display currency: USD

pay 1.6% less for restaurants

	Iceland	Keflavik
Basic meal with drink at inexpensive restaurant	$26.52 ISK3,394	$24.61 ISK3,149	-7.2%
Fast food combo meal McDonalds, or similar	$21.32 ISK2,728	$20.51 ISK2,624	-3.8%
Bottle of Coca-Cola (11 fl. oz)	$3.11 ISK398	$3.28 ISK420	+5.5%
Bottle of water (11 fl. oz)	$2.72 ISK348	$2.70 ISK345	-0.8%
Average			-1.6%

Iceland vs. Keflavik - Cost of restaurants

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pay 8.1% less for groceries

	Iceland	Keflavik
Bread 1 loaf	$3.80 ISK487	$4.63 ISK593	+21.9%
Local cheese (8 oz)	$9.44 ISK1,208	$9.44 ISK1,208
Milk (1 gallon)	$7.78 ISK996	$7.63 ISK976	-1.9%
Eggs 1 dozen	$6.71 ISK859	$6.39 ISK818	-4.8%
Boneless chicken breast (1 lb)	$11.22 ISK1,436	$10.98 ISK1,405	-2.2%
Apples (1 lb)	$1.50 ISK191	$1.12 ISK143	-25.4%
Bananas (1 lb)	$1.15 ISK147	$1.12 ISK143	-2.7%
Oranges (1 lb)	$1.41 ISK181	$1.12 ISK143	-21.1%
Tomatoes (1 lb)	$2.34 ISK300	$1.86 ISK238	-20.5%
Potatoes (1 lb)	$1.65 ISK211	$1.45 ISK186	-11.9%
Onions (1 lb)	$1.09 ISK140	$0.96 ISK123	-12.2%
Average			-8.1%

Iceland vs. Keflavik - Cost of groceries

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pay 2.0% more for transportation

	Iceland	Keflavik
Gasoline (1 gallon)	$9.65 ISK1,235	$9.66 ISK1,236	+0.1%
Monthly public transit pass	$79.56 ISK10,182	$76.28 ISK9,762	-4.1%
New Volkswagen Golf 1.4 (standard edition)	$49,144.25 ISK6,289,481	$50,771.00 ISK6,497,672	+3.3%
Taxi trip in downtown area (5 miles)	$25.55 ISK3,270	$27.74 ISK3,550	+8.6%
Average			+2.0%

Iceland vs. Keflavik - Cost of transportation

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pay 16.1% less for housing

	Iceland	Keflavik
Internet connection 50 mbps or faster, cable/dsl	$95.65 ISK12,241	$81.97 ISK10,490	-14.3%
1-Bedroom apartment in downtown area	$2,289.17 ISK292,968	$1,886.48 ISK241,432	-17.6%
1-Bedroom apartment outside city center	$1,830.04 ISK234,209	$1,353.35 ISK173,201	-26.0%
Utilities for two (700 sq ft apartment) including electric, gas, water, heating	$65.15 ISK8,338	$60.87 ISK7,791	-6.6%
Average			-16.1%

Iceland vs. Keflavik - Cost of housing

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pay 2.1% less for childcare

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

Iceland vs. Keflavik - Cost of childcare

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pay 9.2% less for entertainment and sports

	Iceland	Keflavik
Domestic/local beer (1 pint)	$11.14 ISK1,426	$8.20 ISK1,050	-26.4%
Cappuccino in mid-range area	$5.62 ISK720	$4.10 ISK525	-27.1%
Pack of cigarettes Marlboro or similar	$13.90 ISK1,778	$13.94 ISK1,783	+0.3%
Monthly membership at local gym	$78.17 ISK10,004	$81.64 ISK10,449	+4.4%
Movie ticket to theater/cinema	$16.75 ISK2,144	$17.18 ISK2,199	+2.6%
Average			-9.2%

Iceland vs. Keflavik - Cost of entertainment and sports

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pay 2.1% more for clothing

	Iceland	Keflavik
Regular jeans Levi's brand	$130.91 ISK16,753	$145.10 ISK18,569	+10.8%
Regular dress from H&M or similar store	$61.83 ISK7,913	$63.97 ISK8,187	+3.5%
Running shoes Nike or Adidas	$163.81 ISK20,965	$185.91 ISK23,793	+13.5%
Men's business shoes (leather)	$237.31 ISK30,371	$191.38 ISK24,493	-19.4%
Average			+2.1%

Iceland vs. Keflavik - Cost of clothing

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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

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