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Living in Iceland

Living in Iceland

Practical information

We welcome you to Reykjavik University (RU)! A vibrant young university located in Iceland's capital city that boasts some of the most beautiful nature worldwide. Below, you will find everything you need to know about living, studying, and thriving in Iceland.

Many things must be considered before arriving in Iceland and during the first few weeks of your stay. For instance, looking for accommodation and visas, obtaining your Icelandic ID number and registering for courses. Please read the sections in our practical information guide below; it might save you some extra work later.

Þingvellir, Ísland
Þingvellir (Thingvellir) National Park

Before coming to Iceland

Accommodation

Campus Accommodation

RU collaborates with Byggingafélag námsmanna to provide housing options tailored for students.

  • RU Student Housing Options:
    • Single rooms with shared kitchens.
    • Studio apartments.
    • Couples’ apartments.
    • Family apartments.

Apartments and rooms are fully equipped with essential amenities, including Wi-Fi, appliances, and access to laundry facilities. Outdoor features include bike shelters, barbecue areas, and sports facilities.

  • How to Apply:
    • New Students: Register for housing once you have confirmed your admission.
    • Current Students: Apply through bn.is.

For more details on housing rules and allocation, visit the RU Student Housing.

Assistance with private finding accommodation

Students are responsible for arranging and securing their accommodation in Reykjavik. We strongly recommend you begin this process early as there is a lot of competition for student housing in Reykjavik, particularly before the autumn term.

The International Office provides some support and information about renting in Iceland, though all decisions regarding housing and job opportunities in Iceland are fully the responsibility of each student.

Accommodation costs in Reykjavik

As of December 2024, rental prices in Reykjavik have increased significantly compared to previous years. Here's an updated overview of current accommodation costs:

Accommodation Costs:

  • Room with Shared Bathroom and Kitchen: ISK 200,000 – 300,000 per month. Iceland Review
  • Room with Private Bathroom and Kitchen Facilities: ISK 200,000 – 300,000 per month. Iceland Review
  • Studio Apartment: ISK 249,651 – 328,691 per month. Expatistan

Please note that these figures are approximate and can vary based on the location, size, and condition of the property. It's advisable to consult current listings and engage with local rental agencies for the most accurate and up-to-date information.

Housing Deposit

Most landlords ask for a deposit that will be refunded when moving out if no damage has been done to the property. Always ask for a receipt for any payments made, and never agree to transfer a deposit to a landlord's bank account outside of Iceland. 

Tenancy Agreements

Usually, the landlord completes a tenancy agreement between the landlord and the person renting. Some guest houses use a standard tenancy agreement from Iceland's Ministry of Social Affairs. Before signing a tenancy agreement, it is very important to read it carefully. Reykjavik University cannot offer advice or assistance should any disputes arise regarding your agreement. Students are fully responsible for any contracts signed and are advised to familiarize themselves with the Icelandic housing law.  

Housing Benefits

Housing benefits are monthly payments intended to assist people who rent residential properties. The property can be in the general rental market, social housing, student housing, or halfway houses. Housing benefits replaced an earlier benefits system called rent benefits.

The amount of housing benefits depends on:

  • the number of people in the household
  • income
  • assets
  • rent price

Further information

Photo by Ferdinand Stöhr on Unsplash

Living costs

Cost of Living in Reykjavik for Students

Iceland is known for its relatively high cost of living. Therefore, having an accurate estimate of your monthly expenses as a student in Reykjavik is important.

The total cost of living for a student varies based on lifestyle but typically includes:

  • RU Student Housing: Apartment rents range from 147,000 ISK to 220,000 ISK per month, depending on the apartment type.
  • Private Rentals: Renting a room off-campus ranges from 200,000 ISK to 300,000 ISK per month, though prices may vary.
  • Other Expenses: The remaining budget includes entertainment, transportation, meals, and personal needs. A single person's estimated monthly costs are 185,766.0 ISK without rent.

Individual costs can differ greatly depending on lifestyle and spending habits. These estimates are based on information from Numbeo and the Office of the Icelandic Student Loan Fund.

Students are encouraged to review local resources or consult with Reykjavik University's student services for more detailed and up-to-date information.

Visa Information

Visa and health insurance information

Whether you need to apply for a visa to come to Iceland depends on your citizenship and the length of your intended stay. It is very important that you read the following information carefully to understand what if any, actions you must take before entering Iceland for your studies. If you have any questions, the International Office provides information and assistance with visa applications.

EU/EEA/ citizens

For stays of less than six months:

Citizens of EEA countries and Switzerland intending to stay for less than six months do not need a residence permit. You can register with the national registry to receive a social security number (Kennitala).

You may want to do this if:

  • You would like to open an Icelandic bank account
  • You plan to work in Iceland

The International Office will assist you with applying for a social security number once you have arrived in Iceland if you need one.

For stays of more than six months:

Students planning to stay longer than six months will have to apply for an extension of residence during their stay in the country.  During the orientation day, you will be given guidance on registering and receiving your KT and how to apply for an extension. Please remember to bring your passport with you on the orientation day. EU and EEA citizens do not need special work permits, only residence permits.

Health insurance
Students from EU/EEA countries should bring their European Health Insurance card. This must be presented on any visits to healthcare facilities and will allow you to receive access to healthcare at the same cost as Icelanders.

Non-EU/EEA citizens

For stays of less than three months:

Some nationals from outside the EU and EEA are exempt from the obligation to carry a visa on arrival in Iceland for a stay of up to three months. (Please note this length of stay includes another time spent in Schengen countries in the last six months).

For information on how to apply, please click here.

For stays of three months and longer:

Non-EEA/EFTA citizens planning to study in Iceland for over three months must apply for a student residence permit. This is done through the Icelandic Directorate of Immigration.

Health Insurance

Health insurance Applicants must have valid medical insurance for the first six months in Iceland, after which the applicant will be covered under the Icelandic health national insurance. 

  • The minimum coverage must be ISK 2.000.000 
  • Health insurance must be purchased from a company that is licensed to operate in Iceland. The name of your insurance company needs to be 100% correct on the list. If you are unsure, you can send an email to the Financial Supervisory Authority in Iceland at fme@fme.is  
  • Health Insurance policies can be purchased from Icelandic insurance companies starting from around 12.000 ISK for six months. They may be considerably cheaper than buying insurance in your home country. 
  • Icelandic health insurance companies: www.sjova.is, www.tm.is, www.vordur.is, www.vis.is
Photo by Joshua Earle on Unsplash

After arriving in Iceland

Icelandic ID Number

It is essential for all students planning to study in Iceland for longer than six months to apply for an Icelandic identification number upon arrival. The word for the ID number is 'Kennitala' (abbreviated kt.) in Icelandic. The ID number is necessary to have a scholarship paid, open a bank account, get a tax card, rent housing, etc.

Further information on how to apply for an ID number (kennitala) can be found at Registers Iceland.

All of Iceland's public services in one place

Public Transport

Public transport in Reykjavík is primarily operated by Strætó, a bus system that connects the capital area and nearby municipalities. While Reykjavík lacks a subway or tram system, Strætó offers an extensive network of routes with relatively frequent service in the city center and main suburban areas. Buses are equipped with Wi-Fi, and passengers can use the Strætó app to plan routes and purchase tickets. However, public transport coverage can be limited in less populated areas, and schedules may be less frequent outside peak hours. Many residents rely on cars, cycling, or walking, but efforts are underway to improve public transport sustainability and efficiency.

Leisure

Swimming Pools Culture

Iceland is famous for its geothermal swimming pools, which are an essential part of local culture. Nearly every town has a heated outdoor pool fed by natural hot springs, making them accessible year-round. Reykjavík alone has several pools, such as Laugardalslaug and Vesturbæjarlaug, featuring hot tubs, steam baths, and waterslides. In addition to public pools, Iceland is home to stunning geothermal spas like the Blue Lagoon and Sky Lagoon, offering a relaxing experience in mineral-rich waters. Swimming is a social and wellness activity for Icelanders, blending recreation with the country’s unique geothermal energy resources.

All swimming pools in Iceland in one place

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