Cost of living in Tórshavn, Faroe Islands (Faroe Islands) is 9% cheaper than in Reykjavik (Iceland)
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WARNING! This comparison is based on only a few data points. At this point it is only a guess. It is based on 118 prices entered by 18 different people.
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Currency:
| Food | + 3% | |||
|---|---|---|---|---|
| Food in Tórshavn, Faroe Islands (Faroe Islands) is about the same as in Reykjavik (Iceland) | ||||
| Update prices | Update prices | |||
| Tórshavn, Faroe Islands | Reykjavik | Diff | ||
| Basic lunchtime menu (including a drink) in the business district | kr120 (2,257 kr) | 2,825 kr | - 20% | |
| Combo meal in fast food restaurant (big mac meal or similar) | kr92 (1,730 kr) | 1,801 kr | - 4% | |
| 500 gr (1 lb.) of boneless chicken breast | - | 1,018 kr | - | |
| 1 liter (1 qt.) of whole fat milk | kr12 (230 kr) | 191 kr | + 21% | |
| 12 eggs, large | - | 763 kr | - | |
| 1 kg (2 lb.) of tomatoes | - | 643 kr | - | |
| 500 gr (16 oz.) of local cheese | - | 999 kr | - | |
| 1 kg (2 lb.) of apples | - | 352 kr | - | |
| 1 kg (2 lb.) of potatoes | - | 390 kr | - | |
| 0.5 l (16 oz) domestic beer in the supermarket | kr49 (922 kr) | 463 kr | + 99% | |
| 1 bottle of red table wine, good quality | kr118 (2,210 kr) | 2,821 kr | - 22% | |
| 2 liters of coca-cola | kr40 (759 kr) | 312 kr | + 143% | |
| Bread for 2 people for 1 day | kr20 (367 kr) | 431 kr | - 15% | |
| Housing | - 24% | |||
| Housing in Tórshavn, Faroe Islands (Faroe Islands) is 24% cheaper than in Reykjavik (Iceland) | ||||
| Update prices | Update prices | |||
| Tórshavn, Faroe Islands | Reykjavik | Diff | ||
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in expensive area | kr8,500 (159,872 kr) | 284,594 kr | - 44% | |
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in normal area | kr7,000 (131,660 kr) | 244,436 kr | - 46% | |
| Utilities 1 month (heating, electricity, gas ...) for 2 people in 85m2 flat | - | 19,819 kr | - | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in expensive area | - | 176,423 kr | - | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in normal area | - | 142,384 kr | - | |
| Utilities 1 month (heating, electricity, gas ...) for 1 person in 45 m2 (480 sqft) studio | - | 20,865 kr | - | |
| Internet 8 mbps (1 month) | - | 7,942 kr | - | |
| 40” flat screen tv | - | 91,767 kr | - | |
| Microwave 800/900 watt (bosch, panasonic, lg, sharp, or equivalent brands) | - | 26,771 kr | - | |
| Laundry detergent (3 l. ~ 100 oz.) | - | 2,082 kr | - | |
| Hourly rate for cleaning help | - | 4,144 kr | - | |
| Clothes | ||||
| Clothes in Tórshavn, Faroe Islands (Faroe Islands) is about the same as in Reykjavik (Iceland) | ||||
| Update prices | Update prices | |||
| Tórshavn, Faroe Islands | Reykjavik | Diff | ||
| 1 pair of jeans (levis 501 or similar) | - | 16,475 kr | - | |
| 1 summer dress in a high street store (zara, h&m or similar retailers) | - | 8,266 kr | - | |
| 1 pair of sport shoes (nike, adidas, or equivalent brands) | - | 20,487 kr | - | |
| 1 pair of men’s leather business shoes | - | 26,371 kr | - | |
| Transportation | - 1% | |||
| Transportation in Tórshavn, Faroe Islands (Faroe Islands) is about the same as in Reykjavik (Iceland) | ||||
| Update prices | Update prices | |||
| Tórshavn, Faroe Islands | Reykjavik | Diff | ||
| Volkswagen golf 1.4 tsi 150 cv (or equivalent), with no extras, new | - | 4,426,080 kr | - | |
| 1 liter (1/4 gallon) of gas | kr15 (279 kr) | 286 kr | - 2% | |
| Monthly ticket public transport | - | 11,150 kr | - | |
| Taxi trip on a business day, basic tariff, 8 km. (5 miles) | - | 3,903 kr | - | |
| Personal Care | ||||
| Personal Care in Tórshavn, Faroe Islands (Faroe Islands) is about the same as in Reykjavik (Iceland) | ||||
| Update prices | Update prices | |||
| Tórshavn, Faroe Islands | Reykjavik | Diff | ||
| Cold medicine for 6 days (tylenol, frenadol, coldrex, or equivalent brands) | - | 1,391 kr | - | |
| 1 box of antibiotics (12 doses) | - | 1,999 kr | - | |
| Short visit to private doctor (15 minutes) | - | 5,936 kr | - | |
| 1 box of 32 tampons (tampax, ob, ...) | - | 695 kr | - | |
| Deodorant, roll-on (50ml ~ 1.5 oz.) | - | 621 kr | - | |
| Hair shampoo 2-in-1 (400 ml ~ 12 oz.) | - | 742 kr | - | |
| 4 rolls of toilet paper | - | 528 kr | - | |
| Tube of toothpaste | - | 392 kr | - | |
| Standard men's haircut in expat area of the city | - | 6,153 kr | - | |
| Entertainment | ||||
| Entertainment in Tórshavn, Faroe Islands (Faroe Islands) is about the same as in Reykjavik (Iceland) | ||||
| Update prices | Update prices | |||
| Tórshavn, Faroe Islands | Reykjavik | Diff | ||
| Basic dinner out for two in neighborhood pub | - | 6,554 kr | - | |
| 2 tickets to the movies | - | 3,228 kr | - | |
| 2 tickets to the theater (best available seats) | - | 11,318 kr | - | |
| Dinner for two at an italian restaurant in the expat area including appetisers, main course, wine and dessert | - | 14,878 kr | - | |
| 1 cocktail drink in downtown club | - | 2,535 kr | - | |
| Cappuccino in expat area of the city | - | 675 kr | - | |
| 1 beer in neighbourhood pub (500ml or 1pt.) | - | 1,232 kr | - | |
| Ipad wi-fi 128gb | - | 85,437 kr | - | |
| 1 min. of prepaid mobile tariff (no discounts or plans) | - | 21 kr | - | |
| 1 month of gym membership in business district | - | 8,496 kr | - | |
| 1 package of marlboro cigarettes | - | 1,593 kr | - | |
 |
TOTAL | - 9% | ||
WARNING! This comparison is based on only a few data points. At this point it is only a guess. It is based on 118 prices entered by 18 different people.
These prices were last updated on June 29, 2022.
Exchange rate:
18.809
ISK
/
DKK
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For example, to keep the same standard of living that would require 838,000 kr in Reykjavik you would need to make just about 765,123 kr (kr40,680) in Tórshavn, Faroe Islands.
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