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The total monthly occupancy cost in Reykjavik goes beyond the base rent. Here is a breakdown of the main components:
Renting in Reykjavik as an international student: expect to pay at least 120,000 ISK/month (approx. 800 EUR/month) for a room, with one-bedroom apartments reaching 200,000-300,000 ISK/month. Apply early for university housing via BN Student Housing or the Felagsstofnun studenta. Get your kennitala on arrival - it is required for any formal lease. Deposits are capped at three months rent under Husaleigulog 36/1994. Utilities are usually not included in the rent. Eligible students can apply for housing benefits (husnaedisbaetur) through HMS.
Finding long-term rental accommodation in Reykjavik as an international student requires early planning and a clear understanding of the local rental market. Iceland rental framework is governed by Husaleigulog (Act No. 36/1994), which sets out tenant rights, caps the security deposit at three months rent, and requires all leases to be in writing. The main platforms for private listings include Leiga.is, Housingtarget, and Facebook groups using the keyword leiga (meaning rent in Icelandic). University-managed options through BN Student Housing and the Felagsstofnun studenta offer more security but limited availability. Students should apply for their kennitala as a priority upon arrival, as it is required to sign a registered lease and to access housing benefits (husnaedisbaetur) through HMS.
Reykjavik is the capital of Iceland and home to the country two main universities: the University of Iceland (Haskoli Islands) and Reykjavik University (Haskolinn i Reykjavik). The city rental market is competitive and expensive by European standards; the University of Iceland notes that monthly rent for an individual is typically at least 120,000 ISK (approx. 800 EUR) as of 2024. Students can access university-managed housing through BN Student Housing (Byggingafelag namsmanna) or the Felagsstofnun studenta, though places are limited and early application is essential. On the private market, popular student neighbourhoods include Hlidar (105), Laugardalur (104), and the city centre district 101. A kennitala (Icelandic national ID number) is required to sign a formal lease and to apply for housing benefits through HMS.
Finding long-term rental accommodation in Reykjavik as an international student requires early planning and a clear understanding of the local rental market. Iceland rental framework is governed by Husaleigulog (Act No. 36/1994), which sets out tenant rights, caps the security deposit at three months rent, and requires all leases to be in writing. The main platforms for private listings include Leiga.is, Housingtarget, and Facebook groups using the keyword leiga (meaning rent in Icelandic). University-managed options through BN Student Housing and the Felagsstofnun studenta offer more security but limited availability. Students should apply for their kennitala as a priority upon arrival, as it is required to sign a registered lease and to access housing benefits (husnaedisbaetur) through HMS.
Reykjavik is one of the most expensive capitals in Europe for student renters. The University of Iceland states that monthly rent for an individual is typically at least 120,000 ISK (approx. 800 EUR) as of 2024. On the private market, a one-bedroom apartment in Reykjavik typically costs between 220,000 and 300,000 ISK/month, with central districts 101 and 107 at the top of that range (Rent in Iceland 2026 guide, early 2026). Shared accommodation and university-managed housing through BN Student Housing or the Felagsstofnun studenta remain the most cost-effective options, though places are limited. Students should also factor in utilities (generally not included in rent), a deposit of up to three months rent, and potential agency fees when renting on the private market.
International students in Reykjavik frequently make the following mistakes when searching for long-term rental accommodation:
Apply first for university housing, BN Student Housing and the Félagsstofnun stúdenta, where places are limited. Reykjavik University offers 252 units on its Nauthólsvegur campus.
On the private market, aim for Hlíðar (105), Laugardalur (104) or the centre (101). From abroad, a Home Finder sorts the listings and views properties for you, with photos or video.
The Reykjavik profile mentions no guarantor. What mainly blocks you is the kennitala: without it you cannot sign an official lease, open an account or apply for housing support. The international offices of both universities can guide you.
The deposit is capped at three months' rent. A Home Finder helps you prepare the application and supports your bid.
Apply for university housing as soon as you receive your admission letter from the University of Iceland or Reykjavik University: places at BN Student Housing and the Félagsstofnun stúdenta are limited.
Request your kennitala on arrival too, since it governs the lease, the bank account and housing support. For the private market, do not delay: the best flats go within days.
Allow 80,000 to 120,000 ISK/month for a shared room, 150,000 to 200,000 ISK/month for a studio and 200,000 to 300,000 ISK/month for a one-bedroom flat. Electricity, geothermal heating and water come on top, at 15,000 to 30,000 ISK/month.
For a single person, the University of Iceland cites at least 120,000 ISK/month, around 800 EUR/month. The deposit can reach three months' rent.
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