Iceland · Europe · Population: 130,000
Reykjavik is moderately affordable compared to major global cities, with steady growth in property values. The city has moderate rental prices. At $450,000 average home price in Iceland, buyers should consider the 7.8x price-to-income ratio when planning a purchase.
| Average Home Price | $450,000 |
| Price per sqm | $6,500 |
| Price-to-Income Ratio | 7.8x |
| Mortgage Rate | 7.5% |
| 1-Year Price Change | +2.8% |
| 1-Bedroom Apartment | $1,500/mo |
| 3-Bedroom Apartment | $2,500/mo |
| Rent-to-Income Ratio | 25% |
| Median Household Income | $58,000/year |
| Years to Buy (at median income) | 7.8 years |
| Local Currency | ISK |
With a price-to-income ratio of 7.8x, Reykjavik offers reasonable opportunities for homebuyers compared to global averages. Home prices have increased 2.8% in the past year.
Cities worldwide with home prices closest to Reykjavik
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