Cost of living in Grundarfjordur
Grundarfjordur, a picturesque town in Iceland, offers a unique living experience with its stunning landscapes and small-town charm. Understanding the cost of living here is crucial for anyone considering relocating or planning an extended stay.
This guide provides a detailed breakdown of the expenses you can expect, from dining and groceries to transportation and housing, helping you make informed financial decisions.
Cost of Living Summary
Dining and Restaurants
- Inexpensive Restaurant Meal - A meal at a casual restaurant will typically cost $20.93 on average, with a range between $14.41 and $35.48.
- Mid-Range Restaurant (Three-Course Meal for Two) - For a more upscale dining experience, expect to pay around $123.1, with prices ranging from $72.41 to $217.23.
- Fast Food (e.g., McDonald's) - A McMeal or equivalent combo meal averages $18.1, with a range between $16.65 and $21.72.
- Beverages (e.g., Domestic Beer, Imported Beer, Cappuccino, Coke/Pepsi) - Domestic beer ranges from $7.24 to $13.76, imported beer $7.97 to $13.4, cappuccino $3.62 to $6.88, and Coke/Pepsi $2.17 to $3.98.
Grocery Prices
- Milk - Milk is priced between $1.49 and $2.32 per liter, averaging $1.69.
- Bread (Loaf of Fresh White Bread) - A loaf of fresh white bread costs between $2.31 and $7.24, with an average price of $3.63.
- Eggs (Dozen) - A dozen eggs range from $4.34 to $6.95, averaging $5.84.
- Fruits (e.g., Apples, Oranges) - Apples cost $1.45 to $4.99 per kg, while oranges range from $1.96 to $5.43 per kg.
- Vegetables (e.g., Potatoes, Lettuce) - Potatoes are priced between $1.8 and $4.06 per kg, and lettuce costs $1.63 to $4.66 per head.
Transportation
- Fuel (Gasoline) - Gasoline is priced between $2.1 and $2.36 per liter.
- Taxi Fares - Taxi fares start at $5.29, with a cost of $2.17 to $4.35 per km and $67.78 to $86.89 per hour of waiting.
Housing Costs
- Buying Price per Square Meter (City Centre) - The price per square meter to buy an apartment in the city centre averages $1053.66.
- Buying Price per Square Meter (Outside Centre) - Outside the centre, the price per square meter also averages $1053.66.
Utilities
- Basic Utilities (Electricity, Heating, Water, etc.) - Basic utilities for an 85m2 apartment cost between $49.96 and $181.03, averaging $71.98.
- Internet - Internet services range from $47.07 to $101.38, with an average cost of $68.36.
Cost of Living Rankings
The cost of living indices for Iceland are compared to New York City (NYC), which serves as the baseline with an index of 100. These provide insights into the relative cost of living in different cities in Iceland, covering factors like consumer goods, rent, and purchasing power.
Cost of Living Data
Restaurants
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Transportation
Transportation
Utilities (Monthly)
Utilities (Monthly)
Sports And Leisure
Sports And Leisure
Clothing And Shoes
Clothing And Shoes
Buy Apartment Price
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Salaries And Financing
Salaries And Financing
Childcare
Childcare
"Key Takeaways"
Grundarfjordur offers a relatively high cost of living, particularly in dining and transportation. However, the cost of utilities and internet services is more moderate.
Housing prices for purchasing property are consistent, whether in the city centre or outside, which can be advantageous for buyers.
Conclusion
Living in Grundarfjordur, Iceland, presents a unique blend of natural beauty and modern amenities. While the cost of living can be high, particularly in dining and transportation, careful budgeting can help manage expenses.
For those considering a move, understanding these costs is essential to ensure a comfortable and financially sustainable lifestyle in this charming Icelandic town.