The village, sometimes referred to as Sveinseyri, lies near the head of the Tálknafjörður the fjord, on a tapering gravel spit jutting out from the coast. Livelihood here is through fishing and farming.
Tálknafjörður is the name of a community with about 400 inhabitants. What makes Tálknafjörður different from the other so-called Westfjörds is the geothermal water. There is a guesthouse, a campsite, a swimming pool, a shop, a post office, a bank, Coffee shop and a bar.