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Cost of Living in Iceland

Cost of living in Iceland is 36.39% higher than in United States (aggregate data for all cities, rent is not taken into account). Rent in Iceland is 3.20% higher than in United States (average data for all cities).
Restaurants [ Edit ] Avg. Range
Meal, Inexpensive Restaurant 2,000.00 kr 1,500.00-2,800.00
Meal for 2 People, Mid-range Restaurant, Three-course 12,000.00 kr 8,000.00-15,000.00
McMeal at McDonalds (or Equivalent Combo Meal) 1,500.00 kr 1,299.00-1,790.00
Domestic Beer (1 pint draught) 1,000.00 kr 800.00-1,100.00
Imported Beer (11.2 oz small bottle) 900.00 kr 610.55-1,000.00
Cappuccino (regular) 523.09 kr 450.00-600.00
Coke/Pepsi (11.2 oz small bottle) 281.65 kr 200.00-380.00
Water (11.2 oz small bottle) 219.03 kr 140.00-300.00
Markets [ Edit ] Avg.
Milk (regular), (1 gallon) 558.55 kr 473.18-757.08
Loaf of Fresh White Bread (1 lb) 289.88 kr 221.81-408.23
Rice (white), (1 lb) 169.57 kr 127.01-226.80
Eggs (12) 596.19 kr 450.00-750.00
Local Cheese (1 lb) 670.70 kr 519.36-768.84
Chicken Breasts (Boneless, Skinless), (1 lb) 968.79 kr 855.00-1,088.62
Beef Round (1 lb) (or Equivalent Back Leg Red Meat) 1,099.96 kr 725.75-1,360.78
Apples (1 lb) 143.52 kr 112.94-181.44
Banana (1 lb) 156.12 kr 122.02-224.53
Oranges (1 lb) 150.43 kr 122.02-181.44
Tomato (1 lb) 174.01 kr 122.35-226.80
Potato (1 lb) 122.13 kr 90.72-162.84
Onion (1 lb) 72.60 kr 47.63-136.08
Lettuce (1 head) 322.13 kr 250.00-400.00
Water (1.5 liter bottle) 229.10 kr 170.00-300.00
Bottle of Wine (Mid-Range) 2,500.00 kr 1,900.00-3,500.00
Domestic Beer (0.5 liter bottle) 340.76 kr 280.00-400.00
Imported Beer (11.2 oz small bottle) 329.39 kr 290.00-400.00
Pack of Cigarettes (Marlboro) 1,274.50 kr 1,100.00-1,500.00
Transportation [ Edit ] Avg.
One-way Ticket (Local Transport) 400.00 kr 400.00-420.00
Monthly Pass (Regular Price) 10,900.00 kr 10,900.00-11,300.00
Taxi Start (Normal Tariff) 660.00 kr 660.00-860.00
Taxi 1 mile (Normal Tariff) 489.24 kr 402.34-502.12
Taxi 1hour Waiting (Normal Tariff) 7,020.00 kr 6,674.00-8,980.00
Gasoline (1 gallon) 745.49 kr 711.66-776.01
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) 3,440,000.00 kr 3,090,000.00-3,550,000.00
Toyota Corolla 1.6l 97kW Comfort (Or Equivalent New Car) 3,878,333.33 kr 3,320,000.00-3,990,000.00
Utilities (Monthly) [ Edit ] Avg.
Basic (Electricity, Heating, Water, Garbage) for 915 sq ft Apartment 12,784.51 kr 8,500.00-19,615.38
1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) 19.32 kr 15.00-21.65
Internet (10 Mbps, Unlimited Data, Cable/ADSL) 7,227.10 kr 5,890.00-9,990.00
Sports And Leisure [ Edit ] Avg.
Fitness Club, Monthly Fee for 1 Adult 7,696.14 kr 6,540.00-10,000.00
Tennis Court Rent (1 Hour on Weekend) 3,263.42 kr 2,000.00-4,000.00
Cinema, International Release, 1 Seat 1,300.00 kr 1,200.00-1,490.00
Clothing And Shoes [ Edit ] Avg.
1 Pair of Jeans (Levis 501 Or Similar) 18,088.15 kr 14,900.00-20,000.00
1 Summer Dress in a Chain Store (Zara, H&M, ...) 9,039.61 kr 7,412.21-12,000.00
1 Pair of Nike Running Shoes (Mid-Range) 21,795.57 kr 18,000.00-25,000.00
1 Pair of Men Leather Business Shoes 25,207.08 kr 20,000.00-30,000.00
Rent Per Month [ Edit ] Avg.
Apartment (1 bedroom) in City Centre 156,798.44 kr 120,000.00-190,000.00
Apartment (1 bedroom) Outside of Centre 120,154.48 kr 85,000.00-150,000.00
Apartment (3 bedrooms) in City Centre 242,072.59 kr 190,000.00-285,480.00
Apartment (3 bedrooms) Outside of Centre 191,146.23 kr 148,000.00-230,000.00
Buy Apartment Price [ Edit ] Avg.
Price per Square Feet to Buy Apartment in City Centre 35,566.51 kr 29,542.92-41,806.02
Price per Square Feet to Buy Apartment Outside of Centre 25,127.62 kr 18,580.45-28,335.19
Salaries And Financing [ Edit ] Avg.
Average Monthly Disposable Salary (Net After Tax) 281,067.39 kr
Mortgage Interest Rate in Percentages (%), Yearly 7.22 6.00-8.00

Prices in Iceland

These data are based on 2033 entries in the past 18 months from 200 different contributors.
Last update: July, 2016 Our data for each country are based on all entries from all cities in that country.
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More about Iceland: Cost of Living | Crime | Climate | Food Prices | Gas Prices | Health Care | Travel Prices | Pollution | Property Prices | Quality of Life | Taxi Fare | Traffic

Cost of Living in this country for some cities: Reykjavik

We would like to gather more data for: Akranes, Bakkafjordur, Bildudalur, Blonduos, Bolungarvik, Bordeyri, Dalvik, Drangsnes, Egilsstadir, Eidar, Eskifjorour, ... Update information for Iceland!