Reykjavik, Iceland

In 2024, a single person living in Reykjavik needs approximately ISK 391,500/month, covering rent, groceries, transport and utilities. A family of 3–4 typically spends around ISK 728,600/month. Reykjavik is considered a relatively expensive city by global standards.

A 1-bedroom apartment in Reykjavik costs approximately ISK 230,000/month in 2024. A 3-bedroom apartment runs around ISK 400,000/month. Rent has changed +6.4% vs 2023.

Monthly grocery costs for one person in Reykjavik are approximately ISK 90,000 in 2024. This covers basic supermarket shopping including food and household essentials.

A monthly public transport pass in Reykjavik costs ISK 9,500 in 2024, covering unlimited bus, metro and tram travel within the city.

Monthly utility costs in Reykjavik average ISK 42,000 in 2024, covering electricity, heating/cooling, water and internet for a standard apartment.

Reykjavik is located in Iceland (Europe). With a 1-bed rent of ISK 230,000/month and total single-person expenses around ISK 391,500/month, it is relatively expensive by global standards.

A typical restaurant meal for one person in Reykjavik costs approximately ISK 2,500 in 2024. Budget around ISK 20,000/month if dining out a few times a week.

LifeIndexed tracks cost of living data for Reykjavik from 2022 to 2026. 1-bed rent has increased by 25.8% over this period (from ISK 202,400 in 2022 to ISK 254,519 in 2026). Use the year tabs above to compare costs across years.

To live comfortably in Reykjavik in 2024, a single person needs approximately ISK 391,500/month. This covers rent (ISK 230,000), groceries (ISK 90,000), transport (ISK 9,500), utilities (ISK 42,000) and dining out occasionally. A family of 3–4 should budget around ISK 728,600/month.