You must have been active on the labor market and a member of one of the unions within ASÍ or BSRB for a minimum of 16 out of the last 24 months (viewed from the time you are eligible for an apartment). 

You must fall below certain income and asset limits at the beginning of the rent:

For a single tenant: Max 6.957.000 ISK per year before tax (or 579.750 ISK per month).
For couples: Max 9.740.000 ISK per year before tax (or 811.667 ISK per month).

For every child in the family, 19 or younger the income can be higher by 1.739.000 ISK per year before tax (or 144.917 ISK per month).
The total assets of the tenants shall not be higher than 7.509.000 ISK.

The debt burden of the rent should normally not exceed 25% to 30% of the total income, taking housing benefits into account.

You must be 18 years of age to be signed up on a waiting list for Bjarg non-profit housing.

In general, 80% of apartments are allocated to ASÍ members and 20% to BSRB members

To be eligible to apply for an apartment, the applicant must have a confirmed listing on Bjarg's waiting list.