Cost of Living in Keflavik

Category	Cost
Apartment Rentals	1-bedroom apartment in city center: $1,000 - $1,300 per month 1-bedroom apartment outside city center: $800 - $1,100 per month 3-bedroom apartment in city center: $1,800 - $2,500 per month 3-bedroom apartment outside city center: $1,500 - $2,000 per month
Apartment Purchases	Price per square meter in city center: $2,500 - $3,500 Price per square meter outside city center: $1,800 - $2,500
Transportation	One-way local transport ticket: $3.50 Monthly local transport pass: $100 - $120 Taxi start (normal tariff): $5.50 Taxi 1km (normal tariff): $2.50 Gasoline (1 liter): $1.80 - $2.00
Groceries	Milk (1 liter): $1.20 - $1.50 Bread (500g): $2.50 - $4.00 Rice (1kg): $2.50 - $4.00 Eggs (12): $4.00 - $5.00 Cheese (1kg): $12.00 - $18.00 Chicken breasts (1kg): $12.00 - $18.00 Beef round (1kg): $18.00 - $25.00 Apples (1kg): $2.50 - $4.00 Bananas (1kg): $1.50 - $2.50 Oranges (1kg): $2.50 - $4.00 Tomato (1kg): $3.00 - $5.00 Potato (1kg): $1.50 - $2.50 Water (1.5-liter bottle): $1.50 - $2.50
Restaurants	Meal at an inexpensive restaurant: $15 - $25 Meal for two at a mid-range restaurant: $60 - $100 McDonald's combo meal: $12 - $15 Domestic beer (0.5-liter draught): $8.00 - $10.00 Imported beer (0.33-liter bottle): $8.00 - $10.00 Cappuccino: $4.00 - $6.00 Coke/Pepsi (0.33-liter bottle): $2.50 - $3.50 Water (0.33-liter bottle): $2.00 - $3.00
Utilities	Basic utilities (electricity, heating, cooling, water, garbage) for 85m2 apartment: $100 - $200 per month 1 minute of prepaid mobile tariff (no discounts or plans): $0.15 - $0.25 Internet (60 Mbps or more, unlimited data, cable/ADSL): $60 - $80 per month
Private School Tuition	Preschool (or Kindergarten) tuition: $800 - $1,200 per month Elementary school tuition: $1,000 - $1,500 per month Middle school tuition: $1,200 - $1,800 per month High school tuition: $1,500 - $2,500 per month

Please note that these costs are approximate and can vary depending on various factors such as location, time of year, and individual preferences. It is always a good idea to research and compare prices before making any decisions.

Monthly Budget for Retirees in Keflavik

"The cost of living in Keflavik is considered to be high compared to many other countries. Rent for a one-bedroom apartment in the city center can be quite expensive, while outside the city center, it is slightly less. The cost of utilities such as electricity, heating, cooling, water, and garbage is also high. Groceries can be costly, with items such as bread, milk, eggs, fruits, and vegetables being more expensive than in many other countries. Eating out at restaurants is also pricey, especially for mid-range to high-end establishments. Transportation costs can add up, with gasoline prices being high and public transportation tickets also costing a significant amount. Owning and maintaining a car can be expensive due to high vehicle taxes and insurance costs. Healthcare is of high quality but comes at a high cost unless covered by insurance. Education, on the other hand, is mostly free as it is funded by the government, although private education options can be costly. Overall, while salaries in Keflavik are generally high, the high cost of living can offset these earnings. Despite this, many residents feel that the high quality of life, beautiful surroundings, and safety of the city make the high cost of living worthwhile," said one expat living in Keflavik.

Can I live in Keflavik on $1,500 a month?

"I've been living in Keflavik for a while now, and I can tell you that it's possible to live on $1,500 a month, but you'll have to make some sacrifices. The cost of living in Iceland is generally high, so you'll need to be mindful of your spending habits.First, you'll need to find affordable housing. I'd recommend looking for a shared apartment or a small studio in the older parts of Keflavik, such as the areas around Hafnir and Njarðvík. These neighborhoods tend to be more affordable compared to the newer developments in the city center. You can expect to pay around $800 to $1,000 for a small apartment or a room in a shared house.Next, you'll need to be careful with your grocery shopping. Food can be quite expensive in Iceland, so I'd recommend shopping at discount supermarkets like Bónus or Krónan. You'll also want to cook most of your meals at home, as eating out can quickly eat into your budget. If you're smart about your grocery shopping and meal planning, you can probably get by on around $300 to $400 a month for food.Transportation is another area where you can save money. Keflavik is a small town, so it's possible to walk or bike to most places. If you need to travel to Reykjavik or other parts of Iceland, you can use the public bus system, Strætó, which is relatively affordable. You can also consider carpooling with coworkers or friends to save on fuel costs.As for entertainment and leisure activities, you'll need to be selective. Going out for drinks or attending events can be pricey, so you might want to limit these activities to special occasions. Instead, you can take advantage of the beautiful nature in Iceland by going for hikes, visiting geothermal pools, or exploring the coastline. There are also free or low-cost cultural events and festivals throughout the year that you can attend.In summary, living on $1,500 a month in Keflavik is doable, but you'll need to be disciplined with your spending and make some sacrifices. By finding affordable housing, being smart about your grocery shopping, and taking advantage of low-cost or free activities, you can make it work," commented an expat living in Keflavik.

Can I live in Keflavik on $3,500 a month?

"I've been living in Keflavik for a while now, and I can tell you that it's possible to live comfortably on $3,000 a month, but you'll have to make some sacrifices. The cost of living in Iceland is quite high, especially when it comes to housing and groceries. To make it work, you'll need to be smart about your spending and be willing to compromise on certain things.First, you'll need to find an affordable place to live. Keflavik is a small town, so there aren't really specific neighborhoods that are more or less expensive. However, you can save money by looking for a smaller apartment or sharing a place with roommates. You can also consider living a bit further from the town center, as the rent tends to be cheaper in those areas. Just keep in mind that public transportation is limited, so you'll need a car or be prepared to walk or bike to get around.Groceries can be quite expensive in Iceland, so you'll need to be mindful of your food budget. Shop at the more affordable supermarkets like Bonus or Kronan, and try to cook at home as much as possible. Eating out can be pricey, so save that for special occasions. Also, be prepared to eat more local and seasonal produce, as imported goods can be quite expensive.As for other expenses, you'll need to be mindful of your utility bills, especially heating, as it can get quite cold in Iceland. Try to conserve energy by keeping your thermostat at a reasonable temperature and wearing warm clothes indoors. You'll also want to be careful with your spending on entertainment and leisure activities, as these can add up quickly. Look for free or low-cost events and attractions, and try to enjoy the natural beauty of Iceland as much as possible.In conclusion, living comfortably on $3,000 a month in Keflavik, Iceland is possible, but you'll need to be mindful of your spending and be willing to make some sacrifices. By finding affordable housing, being smart about your grocery shopping, and being careful with your other expenses, you can make it work and enjoy your time in this beautiful country," said one expat living in Keflavik.

Can I live in Keflavik on $5,000 a month?

"I've been living in Keflavik for a while now, and I can tell you that it's definitely possible to live comfortably on $5,000 a month, even if you're used to modern amenities. However, you might have to make some sacrifices in terms of housing and entertainment expenses.First, let's talk about housing. Keflavik is a small town, so there aren't really specific "expensive" or "affordable" neighborhoods like you'd find in a big city. That being said, you can find a decent apartment or house for around $1,500 to $2,000 a month. If you're willing to live a bit further from the town center, you might be able to find something even cheaper. Just keep in mind that the further you are from the center, the less access you'll have to public transportation and other amenities.As for utilities, you can expect to pay around $200 to $300 a month for electricity, heating, and water. Internet and phone services will cost you another $100 to $150 a month, depending on the plan you choose. So, all in all, you're looking at around $2,000 to $2,500 a month for housing and utilities.Now, let's talk about food. Groceries in Iceland can be quite expensive, especially if you're used to shopping at discount stores in the US or Europe. However, if you're smart about where you shop and what you buy, you can keep your monthly grocery bill to around $500 to $600. Eating out can also be pricey, so you might want to limit that to special occasions or budget around $200 to $300 a month for dining out.Transportation is another expense you'll need to consider. If you have a car, you'll need to budget for gas, insurance, and maintenance. Gas prices in Iceland are quite high, so you can expect to spend around $200 to $300 a month on fuel alone. If you don't have a car, you can rely on public transportation, which is relatively affordable at around $100 a month for a bus pass.Finally, you'll want to budget for entertainment and other miscellaneous expenses. This can vary greatly depending on your hobbies and interests, but I'd recommend setting aside at least $500 a month for things like gym memberships, movie tickets, and other leisure activities.So, to sum it up, living in Keflavik on $5,000 a month is definitely doable, but you'll need to be mindful of your spending and make some sacrifices in terms of housing and entertainment. If you can stick to a budget and prioritize your expenses, you should be able to live comfortably and enjoy all that this beautiful country has to offer," commented an expat living in Keflavik.