Cost of Living in Akureyri, Iceland

Are you considering a move to Akureyri, Iceland, and wondering about the cost of living? Akureyri is a diverse city with a lot to offer, but like any city, it comes with its own set of expenses. In this page, we'll break down the cost of living in Akureyri and help you understand whether $3002 per month is moderately priced, given the average monthly salary of $3997.89.

Rent Per Month
Buy Apartment
Akureyri, Iceland



World Range

Meal, Inexpensive Restaurant

19.75 $

Meal for 2 People, Mid-range Restaurant, Three-course

114.91 $

McMeal at McDonalds (or Equivalent Combo Meal)

16.52 $

Domestic Beer (1 pint draught)

8.62 $

Imported Beer (12 oz small bottle)

6.82 $

Cappuccino (regular)

4.14 $

Coke/Pepsi (12 oz small bottle)

2.75 $

Water (12 oz small bottle)

2.1 $




World Range

Milk (regular), (1 gallon)

1.7 $

Loaf of Fresh White Bread (1 lb)

2.92 $

Rice (white), (1 lb)

2.39 $

Eggs (regular) (12)

4.51 $

Local Cheese (1 lb)

9.79 $

Chicken Fillets (1 lb)

14.84 $

Beef Round (1 lb) (or Equivalent Back Leg Red Meat)

25.14 $

Apples (1 lb)

1.8 $

Banana (1 lb)

2.73 $

Oranges (1 lb)

2.59 $

Tomato (1 lb)

2.51 $

Potato (1 lb)

1.29 $

Onion (1 lb)

1.29 $

Lettuce (1 head)

1.67 $

Water (1.5 liter bottle)

1.8 $

Bottle of Wine (Mid-Range)

17.95 $

Domestic Beer (0.5 liter bottle)

2.37 $

Imported Beer (12 oz small bottle)

2.01 $

Cigarettes 20 Pack (Marlboro)

10.69 $




World Range

One-way Ticket (Local Transport)


Monthly Pass (Regular Price)


Taxi Start (Normal Tariff)

5.03 $

Taxi 1 mile (Normal Tariff)

1.08 $

Taxi 1hour Waiting (Normal Tariff)

57.45 $

Gasoline (1 gallon)

2.02 $

Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car)

31600.11 $

Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car)

37345.59 $


Utilities (Monthly)


World Range

Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment

143.64 $

1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans)


Internet (60 Mbps or More, Unlimited Data, Cable/ADSL)

105.33 $


Sports And Leisure


World Range

Fitness Club, Monthly Fee for 1 Adult

53.29 $

Tennis Court Rent (1 Hour on Weekend)

43.09 $

Cinema, International Release, 1 Seat

13.65 $




World Range

Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child

305.23 $

International Primary School, Yearly for 1 Child

2154.55 $


Clothing And Shoes


World Range

1 Pair of Jeans (Levis 501 Or Similar)

124.49 $

1 Summer Dress in a Chain Store (Zara, H&M, ...)

131.67 $

1 Pair of Nike Running Shoes (Mid-Range)

167.58 $

1 Pair of Men Leather Business Shoes

155.61 $


Rent Per Month


World Range

Apartment (1 bedroom) in City Centre

1113.19 $

Apartment (1 bedroom) Outside of Centre

897.73 $

Apartment (3 bedrooms) in City Centre

1759.55 $

Apartment (3 bedrooms) Outside of Centre

1490.23 $


Buy Apartment Price


World Range

Price per Square Feet to Buy Apartment in City Centre

3830.32 $

Price per Square Feet to Buy Apartment Outside of Centre

3590.92 $


Salaries And Financing


World Range

Average Monthly Net Salary (After Tax)

3997.89 $

Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate

4.8 %

Cost of Living in Akureyri, Iceland

Frequently Asked Questions

What is the monthly cost of living in Akureyri?

The monthly expenses for living in Akureyri come to a total of approximately $3002. This includes an average monthly rent of around $1113 for a one-bedroom apartment in the city center, along with utilities costing about $196 per month. Additionally, other expenses such as groceries, transportation, dining out, and leisure activities for one person amount to approximately $878 per month.

How affordable is living in Akureyri?

Living in Akureyri appears to be relatively budget-friendly when considering the average monthly income of $3997.89. However, to enjoy a comfortable standard of living in Akureyri, you would likely need an income exceeding $3997.89.

What is the average salary in Akureyri?

In Akureyri, the average monthly post-tax salary hovers around $3997.89, and it isn't tied to any particular skillset or qualification.

What is the average rent in Akureyri?

The typical monthly rent for a one-bedroom apartment in the central area of Akureyri is approximately $1113. If you're open to living in a location outside the city center, you can expect to pay around $897.73 for such an apartment.

What is the cost of groceries in Akureyri?

The expense for groceries in Akureyri can fluctuate based on personal choices and shopping patterns. Typically, an individual can budget around $706 per month for groceries. Nevertheless, the actual costs may change depending on various factors, including the specific items bought, the choice of stores, and the availability of discounts or special offers.

What is the cost of living in Iceland?

The cost of living in Iceland can vary significantly depending on the particular city you have in mind. Using a nationwide average might not provide accurate information. To get a more precise understanding, it's crucial to examine the cost of living in various cities throughout Iceland.

Akureyri, Iceland

What about weather in Akureyri, Iceland ?
Average Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
High 33°F 34°F 35°F 40°F 47°F 53°F 56°F 55°F 49°F 41°F 36°F 34°F
Temp 29°F 29°F 30°F 35°F 41°F 48°F 51°F 50°F 44°F 36°F 32°F 29°F
Low 23°F 24°F 25°F 30°F 36°F 42°F 46°F 44°F 39°F 32°F 27°F 24°F
Average Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
High 0°C 1°C 1°C 4°C 8°C 11°C 13°C 12°C 9°C 5°C 2°C 1°C
Temp -1°C -1°C -1°C 1°C 5°C 8°C 10°C 10°C 6°C 2°C 0°C -1°C
Low -5°C -4°C -3°C -1°C 2°C 5°C 7°C 6°C 3°C 0°C -2°C -4°C

Comparison Cost of living in other cities in Iceland with Akureyri

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