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Living costs in Reykjavík

It is important to keep in mind that Iceland is expensive, and if you are planning to study in Reykjavík you have to consider your budget for living expenses.  

The minimum support criteria for an individual living in Reykjavík is ISK 189,875 per month (approx. EUR 1,500.00) according to the Welfare Division of Reykjavík City.  

However, this amount does not necessarily reflect actual living costs, which can vary greatly depending on your lifestyle and spending habits.


Rough estimates of living costs for a single person

  • Housing, including utilities: typically ISK 100,000/month and up
  • Food and daily expenses: ISK 50,000/month and up
  • Books and other study materials:  ISK 40,000/semester and up
  • Local public transportation: ISK 6,000/month and up
  • Leisure activities: ISK 30,000/month and up

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