Cost of Living Comparison Between Australia and Iceland 
| Indices Difference |  |
|---|---|
| Consumer Prices in Iceland are 17.5% higher than in Australia (without rent) | |
| Consumer Prices Including Rent in Iceland are 16.5% higher than in Australia | |
| Rent Prices in Iceland are 14.2% higher than in Australia | |
| Restaurant Prices in Iceland are 34.3% higher than in Australia | |
| Groceries Prices in Iceland are 15.8% higher than in Australia | |
| Local Purchasing Power in Iceland is 0.6% lower than in Australia | |
Restaurants | Australia Edit |
Iceland Edit | Difference |
|---|---|---|---|
| Meal, Inexpensive Restaurant |
25.00 A$ (2,285.92 kr) |
32.81 A$ (3,000.00 kr) |
+31.2 % |
| Meal for 2 People, Mid-range Restaurant, Three-course |
130.00 A$ (11,886.77 kr) |
174.98 A$ (16,000.00 kr) |
+34.6 % |
| McMeal at McDonalds (or Equivalent Combo Meal) |
15.00 A$ (1,371.55 kr) |
25.15 A$ (2,299.50 kr) |
+67.7 % |
| Domestic Beer (1 pint draught) |
11.00 A$ (1,005.80 kr) |
15.70 A$ (1,436.01 kr) |
+42.8 % |
| Imported Beer (12 oz small bottle) |
12.00 A$ (1,097.24 kr) |
13.12 A$ (1,200.00 kr) |
+9.4 % |
| Cappuccino (regular) |
5.32 A$ (486.03 kr) |
7.48 A$ (684.31 kr) |
+40.8 % |
| Coke/Pepsi (12 oz small bottle) |
4.06 A$ (371.18 kr) |
4.30 A$ (392.96 kr) |
+5.9 % |
| Water (12 oz small bottle) |
3.38 A$ (309.47 kr) |
3.23 A$ (295.60 kr) |
-4.5 % |
Markets | Australia Edit |
Iceland Edit | |
| Milk (regular), (1 gallon) |
8.83 A$ (807.84 kr) |
9.31 A$ (851.36 kr) |
+5.4 % |
| Loaf of Fresh White Bread (1 lb) |
3.42 A$ (312.93 kr) |
4.77 A$ (436.03 kr) |
+39.3 % |
| Rice (white), (1 lb) |
1.50 A$ (136.90 kr) |
2.19 A$ (200.68 kr) |
+46.6 % |
| Eggs (regular) (12) |
6.10 A$ (558.01 kr) |
8.75 A$ (799.68 kr) |
+43.3 % |
| Local Cheese (1 lb) |
6.99 A$ (639.07 kr) |
10.09 A$ (922.17 kr) |
+44.3 % |
| Chicken Fillets (1 lb) |
5.89 A$ (538.63 kr) |
12.84 A$ (1,174.00 kr) |
+118.0 % |
| Beef Round (1 lb) (or Equivalent Back Leg Red Meat) |
9.92 A$ (907.08 kr) |
21.27 A$ (1,944.92 kr) |
+114.4 % |
| Apples (1 lb) |
2.20 A$ (201.12 kr) |
2.15 A$ (197.00 kr) |
-2.0 % |
| Banana (1 lb) |
1.83 A$ (167.50 kr) |
1.52 A$ (139.16 kr) |
-16.9 % |
| Oranges (1 lb) |
2.14 A$ (195.32 kr) |
1.87 A$ (171.20 kr) |
-12.4 % |
| Tomato (1 lb) |
3.01 A$ (274.95 kr) |
3.20 A$ (292.63 kr) |
+6.4 % |
| Potato (1 lb) |
1.69 A$ (154.81 kr) |
2.11 A$ (192.75 kr) |
+24.5 % |
| Onion (1 lb) |
1.50 A$ (136.79 kr) |
1.32 A$ (120.35 kr) |
-12.0 % |
| Lettuce (1 head) |
3.52 A$ (321.49 kr) |
4.75 A$ (434.00 kr) |
+35.0 % |
| Water (1.5 liter bottle) |
2.60 A$ (237.74 kr) |
3.21 A$ (293.62 kr) |
+23.5 % |
| Bottle of Wine (Mid-Range) |
20.00 A$ (1,828.73 kr) |
30.08 A$ (2,750.00 kr) |
+50.4 % |
| Domestic Beer (0.5 liter bottle) |
7.50 A$ (685.64 kr) |
4.81 A$ (439.70 kr) |
-35.9 % |
| Imported Beer (12 oz small bottle) |
8.52 A$ (779.33 kr) |
4.04 A$ (369.58 kr) |
-52.6 % |
| Cigarettes 20 Pack (Marlboro) |
45.00 A$ (4,114.65 kr) |
17.50 A$ (1,600.00 kr) |
-61.1 % |
Transportation | Australia Edit |
Iceland Edit | |
| One-way Ticket (Local Transport) |
5.00 A$ (457.18 kr) |
6.23 A$ (570.00 kr) |
+24.7 % |
| Monthly Pass (Regular Price) |
169.22 A$ (15,473.38 kr) |
101.71 A$ (9,300.00 kr) |
-39.9 % |
| Taxi Start (Normal Tariff) |
5.50 A$ (502.90 kr) |
7.98 A$ (730.00 kr) |
+45.2 % |
| Taxi 1 mile (Normal Tariff) |
4.18 A$ (382.21 kr) |
5.33 A$ (487.63 kr) |
+27.6 % |
| Taxi 1hour Waiting (Normal Tariff) |
60.00 A$ (5,486.20 kr) |
102.37 A$ (9,360.00 kr) |
+70.6 % |
| Gasoline (1 gallon) |
7.17 A$ (655.36 kr) |
12.89 A$ (1,178.83 kr) |
+79.9 % |
| Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) |
42,102.00 A$ (3,849,669.18 kr) |
57,854.21 A$ (5,290,000.00 kr) |
+37.4 % |
| Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) |
33,372.70 A$ (3,051,490.36 kr) |
63,157.52 A$ (5,774,916.67 kr) |
+89.2 % |
Utilities (Monthly) | Australia Edit |
Iceland Edit | |
| Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment |
327.06 A$ (29,905.38 kr) |
161.49 A$ (14,765.90 kr) |
-50.6 % |
| Mobile Phone Monthly Plan with Calls and 10GB+ Data |
42.68 A$ (3,902.92 kr) |
36.32 A$ (3,320.53 kr) |
-14.9 % |
| Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) |
84.13 A$ (7,692.16 kr) |
107.88 A$ (9,864.19 kr) |
+28.2 % |
Sports And Leisure | Australia Edit |
Iceland Edit | |
| Fitness Club, Monthly Fee for 1 Adult |
80.86 A$ (7,393.56 kr) |
96.95 A$ (8,865.14 kr) |
+19.9 % |
| Tennis Court Rent (1 Hour on Weekend) |
27.40 A$ (2,505.57 kr) |
46.46 A$ (4,248.33 kr) |
+69.6 % |
| Cinema, International Release, 1 Seat |
22.00 A$ (2,011.61 kr) |
21.87 A$ (2,000.00 kr) |
-0.6 % |
Childcare | Australia Edit |
Iceland Edit | |
| Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child |
2,451.75 A$ (224,179.71 kr) |
400.97 A$ (36,663.56 kr) |
-83.6 % |
| International Primary School, Yearly for 1 Child |
19,273.39 A$ (1,762,295.46 kr) |
8,489.48 A$ (776,250.00 kr) |
-56.0 % |
Clothing And Shoes | Australia Edit |
Iceland Edit | |
| 1 Pair of Jeans (Levis 501 Or Similar) |
125.75 A$ (11,497.80 kr) |
175.26 A$ (16,025.31 kr) |
+39.4 % |
| 1 Summer Dress in a Chain Store (Zara, H&M, ...) |
94.65 A$ (8,654.24 kr) |
76.14 A$ (6,962.11 kr) |
-19.6 % |
| 1 Pair of Nike Running Shoes (Mid-Range) |
176.15 A$ (16,106.56 kr) |
229.96 A$ (21,026.67 kr) |
+30.5 % |
| 1 Pair of Men Leather Business Shoes |
199.06 A$ (18,201.63 kr) |
263.45 A$ (24,089.05 kr) |
+32.3 % |
Rent Per Month | Australia Edit |
Iceland Edit | |
| Apartment (1 bedroom) in City Centre |
2,351.00 A$ (214,967.38 kr) |
2,654.40 A$ (242,709.63 kr) |
+12.9 % |
| Apartment (1 bedroom) Outside of Centre |
1,839.24 A$ (168,173.72 kr) |
2,362.85 A$ (216,051.36 kr) |
+28.5 % |
| Apartment (3 bedrooms) in City Centre |
3,731.83 A$ (341,226.32 kr) |
3,730.15 A$ (341,073.17 kr) |
-0.0 % |
| Apartment (3 bedrooms) Outside of Centre |
2,700.90 A$ (246,961.07 kr) |
3,378.50 A$ (308,918.92 kr) |
+25.1 % |
Buy Apartment Price | Australia Edit |
Iceland Edit | |
| Price per Square Feet to Buy Apartment in City Centre |
1,188.64 A$ (108,685.64 kr) |
809.01 A$ (73,973.43 kr) |
-31.9 % |
| Price per Square Feet to Buy Apartment Outside of Centre |
896.96 A$ (82,014.99 kr) |
656.71 A$ (60,047.65 kr) |
-26.8 % |
Salaries And Financing | Australia Edit |
Iceland Edit | |
| Average Monthly Net Salary (After Tax) |
5,513.51 A$ (504,137.48 kr) |
6,384.26 A$ (583,755.89 kr) |
+15.8 % |
| Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate | 6.44 | 7.37 | +14.4 % |
| Last update: | May 2024 | April 2024 | |
| Contributors in the past 12 months: | 1709 | 199 |
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