Cost of living
in Reykjavik.
Living in Reykjavik, Iceland costs about $3,100/month all-in for one person, and roughly $7,130/month for a family of four. That is cheaper than 5% of the 310 cities we track, and about 21% below New York.
Last updated August 2026 · How we calculate this
Cheaper than 5% of the 310 cities we track.
About 21% cheaper than New York.
Figures are average all-in monthly costs for one person, in USD — estimates for guidance, not a personal budget. The breakdown is a typical split of the total. Convert to your currency →
Living in Reykjavik — FAQ
How much does it cost to live in Reykjavik?
A single person needs roughly $3,100/month all-in in Reykjavik, Iceland — rent, food, transport and utilities. A family of four runs closer to $7,130/month.
Is Reykjavik expensive?
Reykjavik is cheaper than 5% of the 310 cities we track, and about 21% cheaper than New York.