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Cost of Living in Iceland

Cost of living in Iceland is 46.72% higher than in United States (aggregate data for all cities, rent is not taken into account). Rent in Iceland is 9.42% higher than in United States (average data for all cities).
Restaurants [ Edit ] Avg. Range
Meal, Inexpensive Restaurant 2,000.00 kr 1,500.00-2,650.00
Meal for 2 People, Mid-range Restaurant, Three-course 12,000.00 kr 8,990.00-15,000.00
McMeal at McDonalds (or Equivalent Combo Meal) 1,500.00 kr 1,300.00-1,800.00
Domestic Beer (1 pint draught) 1,000.00 kr 800.00-1,100.00
Imported Beer (11.2 oz small bottle) 925.00 kr 600.00-1,000.00
Cappuccino (regular) 522.34 kr 450.00-600.00
Coke/Pepsi (11.2 oz small bottle) 280.19 kr 200.00-390.00
Water (11.2 oz small bottle) 218.36 kr 140.00-300.00
Markets [ Edit ] Avg.
Milk (regular), (1 gallon) 543.48 kr 492.10-643.52
Loaf of Fresh White Bread (1 lb) 282.48 kr 221.81-408.23
Rice (white), (1 lb) 167.69 kr 127.01-226.80
Eggs (12) 617.06 kr 450.00-778.00
Local Cheese (1 lb) 691.12 kr 589.67-786.98
Chicken Breasts (Boneless, Skinless), (1 lb) 986.78 kr 816.47-1,224.70
Beef Round (1 lb) (or Equivalent Back Leg Red Meat) 1,128.94 kr 725.75-1,360.78
Apples (1 lb) 142.92 kr 108.41-181.44
Banana (1 lb) 153.44 kr 122.47-187.79
Oranges (1 lb) 150.21 kr 122.02-181.44
Tomato (1 lb) 200.91 kr 127.01-317.52
Potato (1 lb) 125.61 kr 90.72-167.38
Onion (1 lb) 85.01 kr 48.53-136.08
Lettuce (1 head) 315.02 kr 245.25-400.00
Water (1.5 liter bottle) 220.38 kr 169.00-300.00
Bottle of Wine (Mid-Range) 2,500.00 kr 1,900.00-3,200.00
Domestic Beer (0.5 liter bottle) 343.22 kr 280.00-400.00
Imported Beer (11.2 oz small bottle) 329.47 kr 299.00-400.00
Pack of Cigarettes (Marlboro) 1,274.50 kr 1,200.00-1,500.00
Transportation [ Edit ] Avg.
One-way Ticket (Local Transport) 420.00 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 660.00-800.00
Taxi 1 mile (Normal Tariff) 492.46 kr 402.34-502.12
Taxi 1hour Waiting (Normal Tariff) 7,020.00 kr 6,674.00-8,980.00
Gasoline (1 gallon) 740.98 kr 711.66-762.00
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) 3,400,000.00 kr 3,090,000.00-3,500,000.00
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 11,266.67 kr 8,000.00-14,166.67
1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) 19.38 kr 15.00-21.65
Internet (10 Mbps, Unlimited Data, Cable/ADSL) 6,752.58 kr 5,000.00-9,990.00
Sports And Leisure [ Edit ] Avg.
Fitness Club, Monthly Fee for 1 Adult 7,724.43 kr 6,500.00-10,900.00
Tennis Court Rent (1 Hour on Weekend) 3,229.99 kr 2,000.00-4,000.00
Cinema, International Release, 1 Seat 1,350.00 kr 1,200.00-1,490.00
Clothing And Shoes [ Edit ] Avg.
1 Pair of Jeans (Levis 501 Or Similar) 17,757.78 kr 13,990.00-20,000.00
1 Summer Dress in a Chain Store (Zara, H&M, ...) 9,113.33 kr 7,000.00-12,000.00
1 Pair of Nike Running Shoes (Mid-Range) 22,158.52 kr 18,000.00-25,000.00
1 Pair of Men Leather Business Shoes 25,112.35 kr 20,000.00-30,000.00
Rent Per Month [ Edit ] Avg.
Apartment (1 bedroom) in City Centre 153,492.28 kr 100,000.00-185,000.00
Apartment (1 bedroom) Outside of Centre 114,829.16 kr 75,394.68-150,000.00
Apartment (3 bedrooms) in City Centre 243,554.07 kr 180,000.00-300,000.00
Apartment (3 bedrooms) Outside of Centre 193,069.31 kr 140,000.00-230,000.00
Buy Apartment Price [ Edit ] Avg.
Price per Square Feet to Buy Apartment in City Centre 35,001.01 kr 28,545.81-40,877.00
Price per Square Feet to Buy Apartment Outside of Centre 25,093.93 kr 18,580.45-28,335.19
Salaries And Financing [ Edit ] Avg.
Average Monthly Disposable Salary (Net After Tax) 286,940.30 kr
Mortgage Interest Rate in Percentages (%), Yearly 7.10 6.00-8.00

Prices in Iceland

These data are based on 2023 entries in the past 18 months from 212 different contributors.
Last update: September, 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: Akureyri, Reykjavik

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