Cost of Living Comparison Between Norway and Iceland 
| Indices Difference |  |
|---|---|
| Consumer Prices in Iceland are 10.3% higher than in Norway (without rent) | |
| Consumer Prices Including Rent in Iceland are 20.0% higher than in Norway | |
| Rent Prices in Iceland are 50.3% higher than in Norway | |
| Restaurant Prices in Iceland are 18.4% higher than in Norway | |
| Groceries Prices in Iceland are 14.4% higher than in Norway | |
| Local Purchasing Power in Iceland is 6.0% higher than in Norway | |
Restaurants | Norway Edit |
Iceland Edit | Difference |
|---|---|---|---|
| Meal, Inexpensive Restaurant |
200.00 NOK (2,573.79 ISK) |
233.12 NOK (3,000.00 ISK) |
+16.6 % |
| Meal for 2 People, Mid-range Restaurant, Three-course |
1,000.00 NOK (12,868.95 ISK) |
1,243.30 NOK (16,000.00 ISK) |
+24.3 % |
| McMeal at McDonalds (or Equivalent Combo Meal) |
130.00 NOK (1,672.96 ISK) |
178.69 NOK (2,299.50 ISK) |
+37.5 % |
| Domestic Beer (1 pint draught) |
100.00 NOK (1,286.90 ISK) |
112.48 NOK (1,447.50 ISK) |
+12.5 % |
| Imported Beer (12 oz small bottle) |
99.00 NOK (1,274.03 ISK) |
93.25 NOK (1,200.00 ISK) |
-5.8 % |
| Cappuccino (regular) |
47.24 NOK (607.93 ISK) |
53.17 NOK (684.27 ISK) |
+12.6 % |
| Coke/Pepsi (12 oz small bottle) |
33.23 NOK (427.63 ISK) |
30.53 NOK (392.91 ISK) |
-8.1 % |
| Water (12 oz small bottle) |
27.38 NOK (352.36 ISK) |
22.97 NOK (295.60 ISK) |
-16.1 % |
Markets | Norway Edit |
Iceland Edit | |
| Milk (regular), (1 gallon) |
82.48 NOK (1,061.40 ISK) |
66.16 NOK (851.36 ISK) |
-19.8 % |
| Loaf of Fresh White Bread (1 lb) |
29.99 NOK (385.90 ISK) |
33.88 NOK (436.03 ISK) |
+13.0 % |
| Rice (white), (1 lb) |
13.83 NOK (177.93 ISK) |
15.59 NOK (200.69 ISK) |
+12.8 % |
| Eggs (regular) (12) |
41.06 NOK (528.34 ISK) |
62.14 NOK (799.63 ISK) |
+51.3 % |
| Local Cheese (1 lb) |
52.19 NOK (671.57 ISK) |
71.66 NOK (922.17 ISK) |
+37.3 % |
| Chicken Fillets (1 lb) |
65.08 NOK (837.51 ISK) |
91.23 NOK (1,174.00 ISK) |
+40.2 % |
| Beef Round (1 lb) (or Equivalent Back Leg Red Meat) |
133.72 NOK (1,720.84 ISK) |
151.13 NOK (1,944.92 ISK) |
+13.0 % |
| Apples (1 lb) |
14.54 NOK (187.07 ISK) |
15.31 NOK (197.01 ISK) |
+5.3 % |
| Banana (1 lb) |
10.72 NOK (137.96 ISK) |
10.81 NOK (139.16 ISK) |
+0.9 % |
| Oranges (1 lb) |
13.98 NOK (179.94 ISK) |
13.30 NOK (171.20 ISK) |
-4.9 % |
| Tomato (1 lb) |
19.88 NOK (255.88 ISK) |
22.74 NOK (292.63 ISK) |
+14.4 % |
| Potato (1 lb) |
10.03 NOK (129.09 ISK) |
14.98 NOK (192.76 ISK) |
+49.3 % |
| Onion (1 lb) |
10.92 NOK (140.48 ISK) |
9.35 NOK (120.36 ISK) |
-14.3 % |
| Lettuce (1 head) |
25.69 NOK (330.56 ISK) |
33.72 NOK (434.00 ISK) |
+31.3 % |
| Water (1.5 liter bottle) |
21.91 NOK (282.00 ISK) |
22.81 NOK (293.59 ISK) |
+4.1 % |
| Bottle of Wine (Mid-Range) |
150.00 NOK (1,930.34 ISK) |
213.69 NOK (2,750.00 ISK) |
+42.5 % |
| Domestic Beer (0.5 liter bottle) |
33.64 NOK (432.95 ISK) |
34.17 NOK (439.70 ISK) |
+1.6 % |
| Imported Beer (12 oz small bottle) |
43.20 NOK (555.93 ISK) |
28.72 NOK (369.58 ISK) |
-33.5 % |
| Cigarettes 20 Pack (Marlboro) |
150.00 NOK (1,930.34 ISK) |
124.33 NOK (1,600.00 ISK) |
-17.1 % |
Transportation | Norway Edit |
Iceland Edit | |
| One-way Ticket (Local Transport) |
41.00 NOK (527.63 ISK) |
44.29 NOK (570.00 ISK) |
+8.0 % |
| Monthly Pass (Regular Price) |
797.00 NOK (10,256.55 ISK) |
722.67 NOK (9,300.00 ISK) |
-9.3 % |
| Taxi Start (Normal Tariff) |
105.00 NOK (1,351.24 ISK) |
56.73 NOK (730.00 ISK) |
-46.0 % |
| Taxi 1 mile (Normal Tariff) |
27.36 NOK (352.08 ISK) |
37.89 NOK (487.63 ISK) |
+38.5 % |
| Taxi 1hour Waiting (Normal Tariff) |
545.00 NOK (7,013.58 ISK) |
727.33 NOK (9,360.00 ISK) |
+33.5 % |
| Gasoline (1 gallon) |
81.63 NOK (1,050.51 ISK) |
91.60 NOK (1,178.79 ISK) |
+12.2 % |
| Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) |
360,000.00 NOK (4,632,822.05 ISK) |
411,066.94 NOK (5,290,000.00 ISK) |
+14.2 % |
| Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) |
368,070.59 NOK (4,736,682.05 ISK) |
448,748.08 NOK (5,774,916.67 ISK) |
+21.9 % |
Utilities (Monthly) | Norway Edit |
Iceland Edit | |
| Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment |
2,240.59 NOK (28,834.06 ISK) |
1,147.16 NOK (14,762.77 ISK) |
-48.8 % |
| Mobile Phone Monthly Plan with Calls and 10GB+ Data |
435.55 NOK (5,605.09 ISK) |
258.03 NOK (3,320.53 ISK) |
-40.8 % |
| Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) |
587.11 NOK (7,555.43 ISK) |
766.63 NOK (9,865.73 ISK) |
+30.6 % |
Sports And Leisure | Norway Edit |
Iceland Edit | |
| Fitness Club, Monthly Fee for 1 Adult |
457.83 NOK (5,891.82 ISK) |
688.88 NOK (8,865.14 ISK) |
+50.5 % |
| Tennis Court Rent (1 Hour on Weekend) |
313.22 NOK (4,030.84 ISK) |
330.12 NOK (4,248.33 ISK) |
+5.4 % |
| Cinema, International Release, 1 Seat |
150.00 NOK (1,930.34 ISK) |
155.41 NOK (2,000.00 ISK) |
+3.6 % |
Childcare | Norway Edit |
Iceland Edit | |
| Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child |
3,281.81 NOK (42,233.47 ISK) |
2,848.99 NOK (36,663.56 ISK) |
-13.2 % |
| International Primary School, Yearly for 1 Child |
69,946.00 NOK (900,131.59 ISK) |
60,319.61 NOK (776,250.00 ISK) |
-13.8 % |
Clothing And Shoes | Norway Edit |
Iceland Edit | |
| 1 Pair of Jeans (Levis 501 Or Similar) |
912.72 NOK (11,745.73 ISK) |
1,245.27 NOK (16,025.31 ISK) |
+36.4 % |
| 1 Summer Dress in a Chain Store (Zara, H&M, ...) |
468.87 NOK (6,033.85 ISK) |
541.00 NOK (6,962.11 ISK) |
+15.4 % |
| 1 Pair of Nike Running Shoes (Mid-Range) |
1,072.03 NOK (13,795.89 ISK) |
1,633.91 NOK (21,026.67 ISK) |
+52.4 % |
| 1 Pair of Men Leather Business Shoes |
1,402.08 NOK (18,043.35 ISK) |
1,871.87 NOK (24,089.05 ISK) |
+33.5 % |
Rent Per Month | Norway Edit |
Iceland Edit | |
| Apartment (1 bedroom) in City Centre |
13,249.81 NOK (170,511.11 ISK) |
18,859.51 NOK (242,702.09 ISK) |
+42.3 % |
| Apartment (1 bedroom) Outside of Centre |
9,317.96 NOK (119,912.38 ISK) |
16,789.89 NOK (216,068.25 ISK) |
+80.2 % |
| Apartment (3 bedrooms) in City Centre |
19,639.44 NOK (252,739.03 ISK) |
26,503.57 NOK (341,073.17 ISK) |
+35.0 % |
| Apartment (3 bedrooms) Outside of Centre |
15,127.43 NOK (194,674.20 ISK) |
24,004.98 NOK (308,918.92 ISK) |
+58.7 % |
Buy Apartment Price | Norway Edit |
Iceland Edit | |
| Price per Square Feet to Buy Apartment in City Centre |
6,280.52 NOK (80,823.70 ISK) |
5,748.21 NOK (73,973.43 ISK) |
-8.5 % |
| Price per Square Feet to Buy Apartment Outside of Centre |
4,347.53 NOK (55,948.21 ISK) |
4,665.82 NOK (60,044.24 ISK) |
+7.3 % |
Salaries And Financing | Norway Edit |
Iceland Edit | |
| Average Monthly Net Salary (After Tax) |
35,675.67 NOK (459,108.42 ISK) |
45,362.73 NOK (583,770.74 ISK) |
+27.2 % |
| Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate | 4.09 | 7.37 | +80.4 % |
| Last update: | May 2024 | April 2024 | |
| Contributors in the past 12 months: | 607 | 199 |
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