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Cost of Living in Akureyri

Akureyri, Akureyri, Iceland · Population 20,050

▼ -16% vs Iceland average

Single person, monthly (incl. rent)kr146,377 ($1,061)
Couple, monthlykr264,810 ($1,919)
Family of four, monthlykr347,286 ($2,517)

Estimated Prices in Akureyri

ExpenseEstimated costBasis
Meal at an inexpensive restaurantkr1,397 ($10.13)per meal
Three-course meal for two, mid-rangekr5,589 ($40.50)per meal
Cappuccinokr419 ($3.04)each
Monthly groceries (single person)kr31,671 ($230)per month
Monthly public transport passkr5,123 ($37.13)per month
Basic utilities for an 85m² apartmentkr13,507 ($97.88)per month
Internet (60 Mbps, unlimited)kr3,912 ($28.35)per month
Fitness club membershipkr3,912 ($28.35)per month
Cinema ticketkr1,025 ($7.43)each
One-bedroom apartment in city centrekr76,514 ($554)per month
One-bedroom apartment outside centrekr53,227 ($386)per month
Three-bedroom apartment in city centrekr159,682 ($1,157)per month

Salary & Budget Planning

The estimated average net salary in Akureyri is kr447,120 ($3,240) per month. To live comfortably — covering the full single-person budget of kr146,377 ($1,061) with about 30% left over for savings — you would need a net income of roughly kr190,291 ($1,379) per month.

Housing takes the largest share: rent for a one-bedroom outside the centre (kr53,227 ($386)) represents about 36% of the total single-person budget.

Compare Akureyri

Akureyri vs ReykjavíkAkureyri vs KópavogurAkureyri vs HafnarfjörðurAkureyri vs KeflavíkAkureyri vs GarðabærAkureyri vs Selfoss

Nearby Cities

Sauðárkrókur

71 km away · Skagafjörður

Egilsstaðir

176 km away · Múlaþing

Höfn

209 km away · Sveitarfélagið Hornafjörður

Borgarnes

219 km away · Borgarbyggð

Ísafjörður

234 km away · Ísafjarðarbær

Selfoss

239 km away · Sveitarfélagið Árborg

Reykjavík

249 km away · Reykjavík

Kópavogur

251 km away · Kópavogur

Other Major Cities in Iceland

Reykjavík

Reykjavík · pop. 138,772

kr218,837 ($1,586) / mo

Living in Akureyri

Akureyri is one of the key cities in Iceland. The estimated monthly cost of living for a single person is kr146,377 ($1,061), placing it below the national average. Housing represents the largest expense, with a one-bedroom apartment outside the city centre costing around kr53,227 ($386) per month.

For families, the estimated budget rises to kr347,286 ($2,517) per month, driven mainly by larger housing needs and increased food and transport spending. Couples can expect to spend approximately kr264,810 ($1,919) monthly.

The average estimated net salary in Akureyri is kr447,120 ($3,240). To maintain a comfortable lifestyle with room for savings, a single person typically needs a net income of at least kr190,291 ($1,379) per month.

Frequently Asked Questions

Is Akureyri expensive to live in?
A single person needs an estimated kr146,377 ($1,061) per month in Akureyri including rent outside the city centre. That is 16% less than the national average for Iceland.
What salary do you need to live comfortably in Akureyri?
A net salary of around kr190,291 ($1,379) per month lets a single person cover all estimated expenses in Akureyri with roughly 30% left for savings. The estimated average net salary in Akureyri is kr447,120 ($3,240).
How much is rent in Akureyri?
A one-bedroom apartment costs an estimated kr76,514 ($554) per month in the city centre and kr53,227 ($386) outside the centre. A three-bedroom in the centre runs about kr159,682 ($1,157).
Is Akureyri cheaper than Iceland on average?
Yes — Akureyri is estimated to be about 16% cheaper than the Iceland average, making it a relatively affordable option in the country.
What is the cost of groceries in Akureyri?
Monthly groceries for one person are estimated at kr31,671 ($230) in Akureyri. A meal at an inexpensive restaurant costs about kr1,397 ($10) and a cappuccino runs around kr419 ($3).
How do transport costs in Akureyri compare?
A monthly public transport pass in Akureyri is estimated at kr5,123 ($37). Transport makes up a small share of the total budget compared to housing and food.
Figures for Akureyri are estimates based on Iceland national averages adjusted for city size (population 20,050). Last model update: July 2026. How we calculate.