Cost of living in Reykholt
Reykholt, a charming town in Iceland, offers a unique lifestyle with its picturesque landscapes and rich cultural heritage. Understanding the cost of living here is crucial for anyone considering relocating or planning an extended stay.
This guide provides a detailed breakdown of expenses in Reykholt, covering essential categories such as dining, groceries, transportation, housing, and utilities.
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.
- Car Purchase - A new Volkswagen Golf costs between $41,926.14 and $44,822.59, while a Toyota Corolla ranges from $43,439.54 to $48,877.62.
Housing Costs
- Mortgage Interest Rate - The mortgage interest rate for a 20-year fixed-rate loan ranges from 4.25% to 11%, averaging 8.73%.
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.
- Mobile Phone Plan - A mobile phone plan with calls and 10GB+ data costs between $18.1 and $36.21, averaging $25.03.
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
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"Key Takeaways"
Reykholt's cost of living is relatively high, with dining and transportation being significant expenses.
Grocery prices are also on the higher side, reflecting Iceland's overall cost structure.
Housing costs are primarily influenced by mortgage interest rates, which are notably high.
Utilities and internet services are moderately priced, offering some relief in monthly expenses.
Conclusion
In conclusion, living in Reykholt, Iceland, comes with a high cost of living, particularly in dining and transportation.
Prospective residents should budget carefully, especially for housing and groceries, to manage expenses effectively.
Despite the costs, Reykholt offers a unique lifestyle with its natural beauty and cultural richness, making it a desirable place for those who can afford it.