Source: [citation needed] Rules for classification: 1) points; 2) goal difference; 3) number of goals scored. (C) Champions; (P) Promoted; (R) Relegated Notes:
^ÍK was folded due to financial difficulties at the end of the season. HK took over from the club in 1992 in the lowest league, with most of ÍK's squad transferring to HK.
^Magni was originally relegated but regained the place after ÍK went bankrupt, winning third-placed 3. deild team Höttur in a playoff for the place.