A new comparative report on the cost of raising children across Icelandic municipalities reveals that Ölfus has the lowest childcare and after-school costs among the 32 municipalities for which a complete comparison was possible. The findings highlight an important advantage for Ölfus as a place to live and could strengthen the ability of businesses to attract and retain employees as economic development and investment continue to expand in the municipality.

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The report, Hvað kostar barn? (What Does It Cost to Raise a Child?), prepared by Aron Heiðar Steinsson of Steinsson Greykdal ehf. in August 2026, compares childcare fees, after-school programmes, sibling discounts and recreational activity grants across 36 Icelandic municipalities. The comparison is based on a family of four with two children: a three-year-old attending preschool for eight hours a day and an eight-year-old attending primary school and an after-school programme. Both parents are employed full-time. The results show that the annual cost of these services is approximately ISK 198,000 in Ölfus, compared with a median of ISK 566,000 across the municipalities. This represents an annual difference of approximately ISK 368,000.By comparison, the annual cost is approximately ISK 401,000 in Reykjavík, ISK 503,000 in Hafnarfjörður, ISK 652,000 in Árborg and ISK 806,000 in Kópavogur. The difference between Ölfus and the municipality with the highest costs exceeds ISK 617,000 per year.

Ölfus is experiencing significant industrial and economic development. New projects in manufacturing, food production, land-based aquaculture, data centres, innovation and services are creating opportunities for job growth and greater economic diversity. As this development continues, access to skilled employees and the ability to offer an attractive working environment will become increasingly important for businesses. The cost of living plays a significant role in this context. For families considering relocating closer to new employment opportunities, the cost of preschool, after-school programmes and other essential services can have a substantial impact on household disposable income. The report demonstrates that Ölfus has a distinct advantage in this respect. Lower childcare-related expenses can provide families with greater financial flexibility, making the municipality an attractive residential option for employees of companies already operating in Ölfus or planning to establish new facilities.

Companies investing in new operations must consider more than land availability, energy supply, transport connections and other infrastructure. Access to skilled labour and the opportunity for employees to establish family lives close to their workplaces are equally important factors in long-term business development. Affordable services for families with children can therefore contribute to the competitive advantages Ölfus offers businesses. This is particularly relevant for companies seeking specialised professionals and looking to attract individuals and families from other parts of Iceland or from abroad. When prospective employees consider where to settle, the overall picture matters: housing availability, transportation, education, recreational opportunities and everyday living expenses. Lower childcare-related costs can influence families' decisions about where to live and establish their long-term futures.