Cost of living in Reykjavik

Iceland · Northern Europe · ISK · Pricey

For long-stay travellers and remote workers in Reykjavik, the realistic monthly figure is roughly $10,908 all-in. That assumes a long-stay rental (~60% of nightly mid-range accommodation), local food prices, public transit and miscellaneous — but excludes flights, visas, and tourist-style activities. For a comparable short-trip figure, see the Reykjavik travel cost page.

Monthly breakdown

Line itemMonthly (USD)
Long-stay rent equivalent$5,148
Food (eating out + groceries mix)$3,510
Local transport$1,080
Miscellaneous$1,170
All-in monthly$10,908

Local currency: ISK. FX snapshot: 2025-05.

Short-trip context

For comparison, a week-long tourist visit at the mid-range tier in shoulder season runs roughly $3,892 for one person — a much higher per-day rate than the long-stay number above, because hotels charge nightly rates, tourists rely on taxis more, and short-trip activities are bundled into every day.

  • Tourist day rate (mid-range, shoulder): $556/day
  • Long-stay implied day rate: $364/day

Comparable cities

  • Cheaper alternative: Paris — ~$10,092/mo
  • Similar cost: London — ~$10,908/mo
  • Pricier alternative: New York — ~$14,292/mo