| Category | Details | Cost |
|---|---|---|
| Apartment Rentals | 1-bedroom apartment in city center | ISK 100,000 – 150,000 per month |
| 1-bedroom apartment outside city center | ISK 80,000 – 120,000 per month | |
| Apartment Purchases | Price per square meter in city center | ISK 300,000 – 450,000 |
| Price per square meter outside city center | ISK 250,000 – 350,000 | |
| Transportation | One-way local transport ticket | ISK 400 |
| Monthly local transport pass | ISK 12,000 | |
| Gasoline (1 liter) | ISK 230 – 250 | |
| Taxi (1 km) | ISK 1,000 – 1,500 | |
| Groceries | Milk (1 liter) | ISK 150 – 200 |
| Bread (500g) | ISK 300 – 400 | |
| Rice (1 kg) | ISK 200 – 300 | |
| Chicken breasts (1 kg) | ISK 1,500 – 2,000 | |
| Restaurants | Meal at an inexpensive restaurant | ISK 2,000 – 3,000 |
| Three-course meal for two at a mid-range restaurant | ISK 8,000 – 12,000 | |
| Fast food meal (e.g., McDonald’s) | ISK 1,500 – 2,000 | |
| Utilities | Basic utilities (electricity, heating, cooling, water, garbage) for 85m2 apartment | ISK 10,000 – 15,000 per month |
| Internet (60 Mbps or more, unlimited data) | ISK 5,000 – 7,000 per month | |
| Mobile phone (1 minute of prepaid mobile tariff, no discounts or plans) | ISK 20 – 30 | |
| Private School Tuition | Preschool (full day) | ISK 30,000 – 50,000 per month |
| Elementary school | ISK 100,000 – 200,000 per year | |
| Middle school | ISK 150,000 – 250,000 per year | |
| High school | ISK 200,000 – 300,000 per year |
Monthly Budget for Retirees in Vestmannaeyjar
“The cost of living in Vestmannaeyjar is considered to be relatively high, similar to the rest of the country. Housing and rental prices are quite steep, especially for larger or more modern properties. Grocery prices are also high due to the cost of importing many goods, and dining out can be expensive as well. Utilities such as electricity, heating, and internet are also costly, although these can vary depending on usage. Transportation costs can add up, particularly if one owns a car, due to high fuel prices and maintenance costs. However, public transportation is available and is a more affordable option. Healthcare is generally of high quality and is largely funded by taxes, but private health insurance can also be costly. Overall, while salaries in Vestmannaeyjar are often higher than average to offset these costs, the cost of living can still be a significant consideration for those thinking of moving to the area,” said one expat living in Vestmannaeyjar.
Can I live in Vestmannaeyjar on $1,500 a month?
“I’ve been living in Vestmannaeyjar 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, and Vestmannaeyjar is no exception. However, there are ways to make it work.First, you’ll need to find affordable housing. The island is small, so there aren’t really specific neighborhoods that are more or less expensive. Instead, you’ll need to search for a small apartment or a room in a shared house. You can expect to pay around $600-$800 for a small apartment or $400-$600 for a room in a shared house. Keep in mind that utilities and internet can be quite expensive, so try to find a place that includes them in the rent.Next, you’ll need to be mindful of your grocery expenses. Food in Iceland can be pricey, especially fresh produce and meat. To save money, you can shop at the local discount grocery store, Bónus, and focus on buying frozen and canned goods. Cooking at home and packing lunches will also help you save money, as eating out can be quite expensive.Transportation on the island is relatively cheap, as you can walk or bike to most places. However, if you need to travel to the mainland, you’ll need to budget for the ferry, which can cost around $50 round trip. If you plan on traveling frequently, this can add up quickly.As for entertainment, there are plenty of free or low-cost activities to enjoy in Vestmannaeyjar, such as hiking, birdwatching, and exploring the island’s natural beauty. However, if you’re used to going out to bars, restaurants, or events, you’ll need to cut back on those expenses to make your budget work.In conclusion, living on $1,500 a month in Vestmannaeyjar is possible, but you’ll need to be mindful of your expenses and make some sacrifices. By finding affordable housing, cooking at home, and enjoying the island’s natural beauty, you can make it work,” commented an expat living in Vestmannaeyjar.
Can I live in Vestmannaeyjar on $3,500 a month?
“I’ve been living in Vestmannaeyjar 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 generally high, and Vestmannaeyjar is no exception. However, it’s a small town, so there aren’t really specific neighborhoods that are more or less expensive. The key is to find a reasonably priced rental property and be mindful of your spending on other expenses.First, you’ll need to find a place to live. Rent can vary, but you should be able to find a small apartment or a room in a shared house for around $800 to $1,200 a month. It might not be as spacious or modern as you’re used to, but it should be comfortable enough. Make sure to look for a place that includes utilities in the rent, as heating and electricity can be quite expensive in Iceland.Next, you’ll need to budget for groceries and other household expenses. Food prices in Iceland are generally high, so you’ll need to be smart about your shopping. Stick to local, seasonal produce and avoid imported goods as much as possible. You can expect to spend around $400 to $600 a month on groceries, depending on your eating habits.Transportation costs in Vestmannaeyjar are relatively low, as it’s a small town and you can walk or bike to most places. However, if you plan to travel to the mainland frequently, you’ll need to budget for ferry or flight costs, which can add up quickly.As for entertainment and leisure activities, there are plenty of outdoor activities to enjoy in Vestmannaeyjar, such as hiking, birdwatching, and exploring the volcanic landscape. These activities are generally free or low-cost, so you can save money by taking advantage of the natural beauty of the area. However, if you’re used to going out to bars, restaurants, or cultural events frequently, you’ll need to cut back on those expenses, as they can be quite pricey in Iceland.In summary, it’s possible to live comfortably in Vestmannaeyjar on $3,000 a month, but you’ll need to be mindful of your spending and make some sacrifices. Find a reasonably priced rental property, be smart about your grocery shopping, and take advantage of the free or low-cost outdoor activities available in the area,” said one expat living in Vestmannaeyjar.
Can I live in Vestmannaeyjar on $5,000 a month?
“I’ve been living in Vestmannaeyjar 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, there are some sacrifices you might have to make to ensure you stay within your budget.Firstly, housing can be quite expensive in Vestmannaeyjar, especially if you’re looking for a place with all the modern amenities. To save on rent, you might want to consider living in a smaller apartment or sharing a house with roommates. Some of the more affordable neighborhoods to look into are Herjólfsdalur and Óseyri, while you might want to avoid the more expensive areas like Stórhöfði and Bakkafjara.Groceries and dining out can also be quite pricey in Iceland, so you’ll need to be mindful of your spending in this area. To save money, try shopping at discount supermarkets like Bónus or Krónan, and cook most of your meals at home. When you do eat out, opt for more affordable restaurants or cafes, rather than high-end establishments.Transportation costs in Vestmannaeyjar are relatively low, as the island is small and you can easily walk or bike to most places. However, if you need to travel to the mainland, you’ll have to factor in the cost of ferry tickets or flights, which can add up quickly.As for entertainment and leisure activities, there are plenty of affordable options in Vestmannaeyjar. You can enjoy the beautiful nature and outdoor activities like hiking, birdwatching, and visiting the local museums. However, you might have to cut back on more expensive activities like guided tours or frequent trips to the mainland.In general, living in Vestmannaeyjar on a $5,000 a month budget is doable, but you’ll need to be mindful of your spending and make some sacrifices in terms of housing, dining, and entertainment,” commented an expat living in Vestmannaeyjar.
