I follow a guy on YT (An American geology professor) who is pretty into this situation. One of his viewers is a superfan and lived in Grindavik, giving him on the ground updates.

This eruption is expected to be part of a periodic cycle of increased activity that could last hundreds of years.

In a recent-ish video, he said the Icelandic government was offering to buy the home of anyone who wanted to sell in Grindavik, and that his superfan’s house had been purchased by the government.
I think the long term plan is probably to abandon the town.