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Cost of Living in Iceland

Cost of living in Iceland is 38.12% higher than in United States (aggregate data for all cities, rent is not taken into account). Rent in Iceland is 4.26% higher than in United States (average data for all cities).
Restaurants [ Edit ] Avg. Range
Meal, Inexpensive Restaurant 2,000.00 kr 1,500.00-2,500.00
Meal for 2 People, Mid-range Restaurant, Three-course 12,000.00 kr 7,500.00-15,000.00
McMeal at McDonalds (or Equivalent Combo Meal) 1,500.00 kr 1,200.00-1,600.00
Domestic Beer (1 pint draught) 1,000.00 kr 800.00-1,100.00
Imported Beer (11.2 oz small bottle) 900.00 kr 619.00-1,000.00
Cappuccino (regular) 508.15 kr 440.00-597.00
Coke/Pepsi (11.2 oz small bottle) 288.37 kr 200.00-380.00
Water (11.2 oz small bottle) 224.91 kr 150.00-300.00
Markets [ Edit ] Avg.
Milk (regular), (1 gallon) 572.97 kr 469.39-757.08
Loaf of Fresh White Bread (1 lb) 297.84 kr 226.80-408.23
Rice (white), (1 lb) 180.43 kr 127.01-272.16
Eggs (12) 574.21 kr 450.00-700.00
Local Cheese (1 lb) 674.86 kr 508.36-816.01
Chicken Breasts (Boneless, Skinless), (1 lb) 990.84 kr 861.37-1,224.70
Beef Round (1 lb) (or Equivalent Back Leg Red Meat) 1,179.34 kr 907.19-1,360.78
Apples (1 lb) 139.85 kr 112.94-180.98
Banana (1 lb) 148.86 kr 117.48-224.53
Oranges (1 lb) 145.73 kr 113.40-181.44
Tomato (1 lb) 170.07 kr 127.01-226.80
Potato (1 lb) 119.75 kr 90.72-162.84
Onion (1 lb) 85.78 kr 48.53-136.08
Lettuce (1 head) 348.31 kr 270.00-400.00
Water (1.5 liter bottle) 230.96 kr 170.00-300.00
Bottle of Wine (Mid-Range) 2,350.00 kr 1,900.00-3,500.00
Domestic Beer (0.5 liter bottle) 357.69 kr 300.00-409.00
Imported Beer (11.2 oz small bottle) 332.07 kr 300.00-400.00
Pack of Cigarettes (Marlboro) 1,250.00 kr 1,100.00-1,400.00
Transportation [ Edit ] Avg.
One-way Ticket (Local Transport) 400.00 kr 400.00-420.00
Monthly Pass (Regular Price) 10,900.00 kr 10,900.00-10,900.00
Taxi Start (Normal Tariff) 660.00 kr 660.00-860.00
Taxi 1 mile (Normal Tariff) 482.80 kr 402.34-502.12
Taxi 1hour Waiting (Normal Tariff) 7,020.00 kr 6,674.00-8,980.00
Gasoline (1 gallon) 753.87 kr 712.79-830.90
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) 3,400,000.00 kr 3,090,000.00-3,690,000.00
Utilities (Monthly) [ Edit ] Avg.
Basic (Electricity, Heating, Water, Garbage) for 915 sq ft Apartment 12,980.48 kr 8,760.31-19,615.38
1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) 19.09 kr 14.00-21.65
Internet (10 Mbps, Unlimited Data, Cable/ADSL) 7,374.68 kr 5,900.00-9,990.00
Sports And Leisure [ Edit ] Avg.
Fitness Club, Monthly Fee for 1 Adult 7,796.14 kr 6,500.00-10,000.00
Tennis Court Rent (1 Hour on Weekend) 3,519.96 kr 2,500.00-4,000.00
Cinema, International Release, 1 Seat 1,300.00 kr 1,200.00-1,450.00
Clothing And Shoes [ Edit ] Avg.
1 Pair of Jeans (Levis 501 Or Similar) 18,061.84 kr 15,000.00-21,000.00
1 Summer Dress in a Chain Store (Zara, H&M, ...) 9,074.61 kr 7,990.00-12,000.00
1 Pair of Nike Running Shoes (Mid-Range) 21,627.84 kr 17,675.66-25,000.00
1 Pair of Men Leather Business Shoes 25,008.46 kr 19,835.84-30,000.00
Rent Per Month [ Edit ] Avg.
Apartment (1 bedroom) in City Centre 155,181.67 kr 120,000.00-185,000.00
Apartment (1 bedroom) Outside of Centre 116,763.69 kr 72,000.00-150,000.00
Apartment (3 bedrooms) in City Centre 244,091.85 kr 200,000.00-285,480.00
Apartment (3 bedrooms) Outside of Centre 188,615.02 kr 146,418.61-230,000.00
Buy Apartment Price [ Edit ] Avg.
Price per Square Feet to Buy Apartment in City Centre 34,848.56 kr 29,542.92-41,806.02
Price per Square Feet to Buy Apartment Outside of Centre 24,751.56 kr 18,580.45-27,870.68
Salaries And Financing [ Edit ] Avg.
Average Monthly Disposable Salary (Net After Tax) 289,662.04 kr 250,000.00-350,000.00
Mortgage Interest Rate in Percentages (%), Yearly 7.12 6.00-8.00

Prices in Iceland

These data are based on 1985 entries in the past 18 months from 195 different contributors.
Last update: April, 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!