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Cost of Living in Akranes, Iceland

By Joshua Wood, LPC

Last updated on Jul 09, 2023

Summary: What is the cost of living in Akranes, Iceland? Hear what expats, digital nomads and retirees living in Akranes have to say about the cost of housing, health insurance and general living costs.

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Is the cost of living in Akranes high?

We asked people how much they someone comfortably live on in Akranes, they wrote:

"The cost of living in Akranes is considered to be relatively high, similar to the rest of the country. Housing is one of the biggest expenses, with rent for a one-bedroom apartment in the city center being quite costly. Utilities such as electricity, heating, cooling, water, and garbage are also a significant part of the monthly budget. Groceries in Akranes can be expensive, with items such as meat, dairy, and fresh produce often having high price tags due to the country's remote location and harsh climate. Eating out or ordering takeout can also be pricey, with a meal at an inexpensive restaurant costing more than in many other countries. Transportation costs can add up as well, with gasoline prices being high. However, many residents choose to walk or bike due to the town's small size, which can help to offset these costs. Healthcare in Iceland is of high quality, but it is not free. Residents pay a portion of the cost for services, but this is generally affordable. Overall, while the cost of living in Akranes is high, many residents feel that the high quality of life, beautiful surroundings, and strong sense of community make it worth the expense," said one expat in Akranes.

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Will I save money living in Akranes?

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About the Author

Joshua Wood Joshua Wood, LPC joined Expat Exchange in 2000 and serves as one of its Co-Presidents. He is also one of the Founders of Digital Nomad Exchange. Prior to Expat Exchange, Joshua worked for NBC Cable (MSNBC and CNBC Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.

Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.

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