Can you live in Reykjavik with $ 1,000 a month?

Not comfortably. Estimated monthly costs are around $2,950, which exceeds this budget.

Can you live in Reykjavik with $ 2,000 a month?

Not comfortably. Estimated monthly costs are around $2,950, which exceeds this budget.

Can you live in Reykjavik with $ 3,000 a month?

Yes. With estimated monthly costs of about $2,950, you would have roughly $50 left each month (Affordable).

Can you live in Reykjavik with $ 5,000 a month?

Yes. With estimated monthly costs of about $2,950, you would have roughly $2,050 left each month (Very Comfortable).

Can you live in Reykjavik with $ 8,000 a month?

Yes. With estimated monthly costs of about $2,950, you would have roughly $5,050 left each month (Premium Lifestyle).

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Reykjavik, Iceland

How much does it really cost to live in Reykjavik? Housing, food, transport, internet and more — plus what salary you need to live comfortably.

Europe 👥 130,000 people ❄️ Cold climate Small town 🌊 Near the sea 💱 ISK

💰 Can I afford Reykjavik? ⚖️ Compare this city Iceland →

$ $1,500 1-bedroom rent / mo

90 Quality of life / 100

92 Safety / 100

94 Internet / 100

18 Affordability / 100

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Estimated Monthly Cost

Single person, moderate lifestyle, 1-bedroom apartment.

Rent (1-bedroom)	$1,500
Food (moderate)	$580
Transport	$60
Utilities	$120
Internet	$40
Healthcare	$110
Entertainment	$250
Total (moderate)	$2,950

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Housing Costs

Typical monthly rent in Reykjavik.

Shared accommodation	$600
Studio	$1,000
1-bedroom	$1,500
2-bedroom	$2,000
3-bedroom	$2,600

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City Scores

How Reykjavik rates, out of 100.

Cost of living

Safety

Quality of life

Internet

Healthcare

Transport

Nightlife

Climate

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At a Glance

Climate❄️ Cold
City sizeSmall
Near the seaYes 🌊
Geography🌊 Sea
Capital cityReykjavik
LanguageIcelandic
CurrencyISK
Time zoneAtlantic/Reykjavik

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Pros and Cons of Reykjavik

✅ Pros

Relatively safe city
Fast and reliable internet
Good public transport network
Great overall quality of life
Good healthcare options
Located near the coast

⚠️ Cons

Higher cost of living

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Monthly Budget by Lifestyle

Based on a single person living in a 1-bedroom apartment.

Budget $2,040 per month Basic $2,350 per month Moderate $2,950 per month Comfortable $3,825 per month Premium $5,770 per month

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Can You Live in Reykjavik on These Salaries?

Estimated for a single person, moderate lifestyle, 1-bedroom apartment.

Monthly income	Status	Remaining
$ 1,000	Very Difficult	$-1,950 / month
$ 2,000	Very Difficult	$-950 / month
$ 3,000	Affordable	$50 / month
$ 5,000	Very Comfortable	$2,050 / month
$ 8,000	Premium Lifestyle	$5,050 / month