Cost of Living Comparison Between Iceland and Norway 
| Indices Difference |  |
|---|---|
| Consumer Prices in Norway are 10.6% lower than in Iceland (without rent) | |
| Consumer Prices Including Rent in Norway are 17.8% lower than in Iceland | |
| Rent Prices in Norway are 34.4% lower than in Iceland | |
| Restaurant Prices in Norway are 16.7% lower than in Iceland | |
| Groceries Prices in Norway are 13.8% lower than in Iceland | |
| Local Purchasing Power in Norway is 5.7% lower than in Iceland | |
Restaurants | Iceland Edit |
Norway Edit | Difference |
|---|---|---|---|
| Meal, Inexpensive Restaurant |
3,000.00 ISK (236.63 NOK) |
2,535.61 ISK (200.00 NOK) |
-15.5 % |
| Meal for 2 People, Mid-range Restaurant, Three-course |
16,000.00 ISK (1,262.02 NOK) |
12,678.05 ISK (1,000.00 NOK) |
-20.8 % |
| McMeal at McDonalds (or Equivalent Combo Meal) |
2,299.50 ISK (181.38 NOK) |
1,648.15 ISK (130.00 NOK) |
-28.3 % |
| Domestic Beer (1 pint draught) |
1,436.01 ISK (113.27 NOK) |
1,267.80 ISK (100.00 NOK) |
-11.7 % |
| Imported Beer (12 oz small bottle) |
1,200.00 ISK (94.65 NOK) |
1,255.13 ISK (99.00 NOK) |
+4.6 % |
| Cappuccino (regular) |
684.31 ISK (53.98 NOK) |
599.05 ISK (47.25 NOK) |
-12.5 % |
| Coke/Pepsi (12 oz small bottle) |
392.96 ISK (31.00 NOK) |
421.40 ISK (33.24 NOK) |
+7.2 % |
| Water (12 oz small bottle) |
295.60 ISK (23.32 NOK) |
347.29 ISK (27.39 NOK) |
+17.5 % |
Markets | Iceland Edit |
Norway Edit | |
| Milk (regular), (1 gallon) |
851.36 ISK (67.15 NOK) |
1,045.65 ISK (82.48 NOK) |
+22.8 % |
| Loaf of Fresh White Bread (1 lb) |
436.03 ISK (34.39 NOK) |
380.34 ISK (30.00 NOK) |
-12.8 % |
| Rice (white), (1 lb) |
200.68 ISK (15.83 NOK) |
175.42 ISK (13.84 NOK) |
-12.6 % |
| Eggs (regular) (12) |
799.68 ISK (63.08 NOK) |
520.50 ISK (41.06 NOK) |
-34.9 % |
| Local Cheese (1 lb) |
922.17 ISK (72.74 NOK) |
661.75 ISK (52.20 NOK) |
-28.2 % |
| Chicken Fillets (1 lb) |
1,174.00 ISK (92.60 NOK) |
825.08 ISK (65.08 NOK) |
-29.7 % |
| Beef Round (1 lb) (or Equivalent Back Leg Red Meat) |
1,944.92 ISK (153.41 NOK) |
1,695.52 ISK (133.74 NOK) |
-12.8 % |
| Apples (1 lb) |
197.00 ISK (15.54 NOK) |
184.34 ISK (14.54 NOK) |
-6.4 % |
| Banana (1 lb) |
139.16 ISK (10.98 NOK) |
135.94 ISK (10.72 NOK) |
-2.3 % |
| Oranges (1 lb) |
171.20 ISK (13.50 NOK) |
177.29 ISK (13.98 NOK) |
+3.6 % |
| Tomato (1 lb) |
292.63 ISK (23.08 NOK) |
252.13 ISK (19.89 NOK) |
-13.8 % |
| Potato (1 lb) |
192.75 ISK (15.20 NOK) |
127.19 ISK (10.03 NOK) |
-34.0 % |
| Onion (1 lb) |
120.35 ISK (9.49 NOK) |
138.42 ISK (10.92 NOK) |
+15.0 % |
| Lettuce (1 head) |
434.00 ISK (34.23 NOK) |
325.75 ISK (25.69 NOK) |
-24.9 % |
| Water (1.5 liter bottle) |
293.62 ISK (23.16 NOK) |
277.92 ISK (21.92 NOK) |
-5.3 % |
| Bottle of Wine (Mid-Range) |
2,750.00 ISK (216.91 NOK) |
1,901.71 ISK (150.00 NOK) |
-30.8 % |
| Domestic Beer (0.5 liter bottle) |
439.70 ISK (34.68 NOK) |
426.53 ISK (33.64 NOK) |
-3.0 % |
| Imported Beer (12 oz small bottle) |
369.58 ISK (29.15 NOK) |
547.68 ISK (43.20 NOK) |
+48.2 % |
| Cigarettes 20 Pack (Marlboro) |
1,600.00 ISK (126.20 NOK) |
1,901.71 ISK (150.00 NOK) |
+18.9 % |
Transportation | Iceland Edit |
Norway Edit | |
| One-way Ticket (Local Transport) |
570.00 ISK (44.96 NOK) |
519.80 ISK (41.00 NOK) |
-8.8 % |
| Monthly Pass (Regular Price) |
9,300.00 ISK (733.55 NOK) |
10,104.40 ISK (797.00 NOK) |
+8.6 % |
| Taxi Start (Normal Tariff) |
730.00 ISK (57.58 NOK) |
1,331.19 ISK (105.00 NOK) |
+82.4 % |
| Taxi 1 mile (Normal Tariff) |
487.63 ISK (38.46 NOK) |
346.86 ISK (27.36 NOK) |
-28.9 % |
| Taxi 1hour Waiting (Normal Tariff) |
9,360.00 ISK (738.28 NOK) |
6,909.54 ISK (545.00 NOK) |
-26.2 % |
| Gasoline (1 gallon) |
1,178.83 ISK (92.98 NOK) |
1,034.98 ISK (81.64 NOK) |
-12.2 % |
| Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) |
5,290,000.00 ISK (417,256.73 NOK) |
4,564,096.55 ISK (360,000.00 NOK) |
-13.7 % |
| Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) |
5,774,916.67 ISK (455,505.26 NOK) |
4,666,415.84 ISK (368,070.59 NOK) |
-19.2 % |
Utilities (Monthly) | Iceland Edit |
Norway Edit | |
| Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment |
14,765.90 ISK (1,164.68 NOK) |
28,406.33 ISK (2,240.59 NOK) |
+92.4 % |
| Mobile Phone Monthly Plan with Calls and 10GB+ Data |
3,320.53 ISK (261.91 NOK) |
5,521.94 ISK (435.55 NOK) |
+66.3 % |
| Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) |
9,864.19 ISK (778.05 NOK) |
7,443.35 ISK (587.11 NOK) |
-24.5 % |
Sports And Leisure | Iceland Edit |
Norway Edit | |
| Fitness Club, Monthly Fee for 1 Adult |
8,865.14 ISK (699.25 NOK) |
5,790.74 ISK (456.75 NOK) |
-34.7 % |
| Tennis Court Rent (1 Hour on Weekend) |
4,248.33 ISK (335.09 NOK) |
3,971.05 ISK (313.22 NOK) |
-6.5 % |
| Cinema, International Release, 1 Seat |
2,000.00 ISK (157.75 NOK) |
1,901.71 ISK (150.00 NOK) |
-4.9 % |
Childcare | Iceland Edit |
Norway Edit | |
| Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child |
36,663.56 ISK (2,891.89 NOK) |
41,606.96 ISK (3,281.81 NOK) |
+13.5 % |
| International Primary School, Yearly for 1 Child |
776,250.00 ISK (61,227.89 NOK) |
886,778.60 ISK (69,946.00 NOK) |
+14.2 % |
Clothing And Shoes | Iceland Edit |
Norway Edit | |
| 1 Pair of Jeans (Levis 501 Or Similar) |
16,025.31 ISK (1,264.02 NOK) |
11,545.68 ISK (910.68 NOK) |
-28.0 % |
| 1 Summer Dress in a Chain Store (Zara, H&M, ...) |
6,962.11 ISK (549.15 NOK) |
5,947.38 ISK (469.11 NOK) |
-14.6 % |
| 1 Pair of Nike Running Shoes (Mid-Range) |
21,026.67 ISK (1,658.51 NOK) |
13,592.83 ISK (1,072.16 NOK) |
-35.4 % |
| 1 Pair of Men Leather Business Shoes |
24,089.05 ISK (1,900.06 NOK) |
17,822.40 ISK (1,405.77 NOK) |
-26.0 % |
Rent Per Month | Iceland Edit |
Norway Edit | |
| Apartment (1 bedroom) in City Centre |
242,709.63 ISK (19,144.09 NOK) |
168,023.97 ISK (13,253.14 NOK) |
-30.8 % |
| Apartment (1 bedroom) Outside of Centre |
216,051.36 ISK (17,041.38 NOK) |
118,146.06 ISK (9,318.95 NOK) |
-45.3 % |
| Apartment (3 bedrooms) in City Centre |
341,073.17 ISK (26,902.66 NOK) |
249,016.55 ISK (19,641.56 NOK) |
-27.0 % |
| Apartment (3 bedrooms) Outside of Centre |
308,918.92 ISK (24,366.45 NOK) |
191,412.44 ISK (15,097.94 NOK) |
-38.0 % |
Buy Apartment Price | Iceland Edit |
Norway Edit | |
| Price per Square Feet to Buy Apartment in City Centre |
73,973.43 ISK (5,834.77 NOK) |
79,647.35 ISK (6,282.30 NOK) |
+7.7 % |
| Price per Square Feet to Buy Apartment Outside of Centre |
60,047.65 ISK (4,736.35 NOK) |
55,127.92 ISK (4,348.30 NOK) |
-8.2 % |
Salaries And Financing | Iceland Edit |
Norway Edit | |
| Average Monthly Net Salary (After Tax) |
583,755.89 ISK (46,044.63 NOK) |
452,519.52 ISK (35,693.16 NOK) |
-22.5 % |
| Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate | 7.37 | 4.08 | -44.6 % |
| Last update: | April 2024 | May 2024 | |
| Contributors in the past 12 months: | 199 | 600 |
Moving to Iceland? Explore:
Moving to Norway? Explore: