Cost of Living Comparison Between Iceland and Norway 
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| Indices Difference |  |
|---|---|
| Consumer Prices in Norway are 9.1% lower than in Iceland (without rent) | |
| Consumer Prices Including Rent in Norway are 16.5% lower than in Iceland | |
| Rent Prices in Norway are 33.7% lower than in Iceland | |
| Restaurant Prices in Norway are 14.9% lower than in Iceland | |
| Groceries Prices in Norway are 12.3% lower than in Iceland | |
| Local Purchasing Power in Norway is 4.6% lower than in Iceland | |
Restaurants | Iceland Edit |
Norway Edit | Difference |
|---|---|---|---|
| Meal, Inexpensive Restaurant |
3,000.00 ISK (231.98 NOK) |
2,586.47 ISK (200.00 NOK) |
-13.8 % |
| Meal for 2 People, Mid-range Restaurant, Three-course |
16,000.00 ISK (1,237.21 NOK) |
12,932.37 ISK (1,000.00 NOK) |
-19.2 % |
| McMeal at McDonalds (or Equivalent Combo Meal) |
2,299.50 ISK (177.81 NOK) |
1,681.21 ISK (130.00 NOK) |
-26.9 % |
| Domestic Beer (1 pint draught) |
1,411.59 ISK (109.15 NOK) |
1,293.24 ISK (100.00 NOK) |
-8.4 % |
| Imported Beer (12 oz small bottle) |
1,200.00 ISK (92.79 NOK) |
1,280.30 ISK (99.00 NOK) |
+6.7 % |
| Cappuccino (regular) |
677.78 ISK (52.41 NOK) |
610.42 ISK (47.20 NOK) |
-9.9 % |
| Coke/Pepsi (12 oz small bottle) |
395.55 ISK (30.59 NOK) |
427.11 ISK (33.03 NOK) |
+8.0 % |
| Water (12 oz small bottle) |
295.49 ISK (22.85 NOK) |
353.20 ISK (27.31 NOK) |
+19.5 % |
Markets | Iceland Edit |
Norway Edit | |
| Milk (regular), (1 gallon) |
851.36 ISK (65.83 NOK) |
1,066.19 ISK (82.44 NOK) |
+25.2 % |
| Loaf of Fresh White Bread (1 lb) |
436.03 ISK (33.72 NOK) |
385.12 ISK (29.78 NOK) |
-11.7 % |
| Rice (white), (1 lb) |
200.68 ISK (15.52 NOK) |
178.24 ISK (13.78 NOK) |
-11.2 % |
| Eggs (regular) (12) |
799.53 ISK (61.82 NOK) |
530.30 ISK (41.01 NOK) |
-33.7 % |
| Local Cheese (1 lb) |
922.17 ISK (71.31 NOK) |
673.60 ISK (52.09 NOK) |
-27.0 % |
| Chicken Fillets (1 lb) |
1,174.00 ISK (90.78 NOK) |
843.23 ISK (65.20 NOK) |
-28.2 % |
| Beef Round (1 lb) (or Equivalent Back Leg Red Meat) |
1,944.92 ISK (150.39 NOK) |
1,732.51 ISK (133.97 NOK) |
-10.9 % |
| Apples (1 lb) |
196.99 ISK (15.23 NOK) |
187.92 ISK (14.53 NOK) |
-4.6 % |
| Banana (1 lb) |
139.13 ISK (10.76 NOK) |
138.60 ISK (10.72 NOK) |
-0.4 % |
| Oranges (1 lb) |
171.18 ISK (13.24 NOK) |
179.13 ISK (13.85 NOK) |
+4.6 % |
| Tomato (1 lb) |
292.63 ISK (22.63 NOK) |
257.41 ISK (19.90 NOK) |
-12.0 % |
| Potato (1 lb) |
192.75 ISK (14.90 NOK) |
130.06 ISK (10.06 NOK) |
-32.5 % |
| Onion (1 lb) |
120.34 ISK (9.31 NOK) |
141.20 ISK (10.92 NOK) |
+17.3 % |
| Lettuce (1 head) |
434.00 ISK (33.56 NOK) |
332.44 ISK (25.71 NOK) |
-23.4 % |
| Water (1.5 liter bottle) |
293.53 ISK (22.70 NOK) |
283.80 ISK (21.95 NOK) |
-3.3 % |
| Bottle of Wine (Mid-Range) |
2,750.00 ISK (212.64 NOK) |
1,939.86 ISK (150.00 NOK) |
-29.5 % |
| Domestic Beer (0.5 liter bottle) |
439.70 ISK (34.00 NOK) |
434.74 ISK (33.62 NOK) |
-1.1 % |
| Imported Beer (12 oz small bottle) |
369.58 ISK (28.58 NOK) |
559.63 ISK (43.27 NOK) |
+51.4 % |
| Cigarettes 20 Pack (Marlboro) |
1,650.00 ISK (127.59 NOK) |
1,939.86 ISK (150.00 NOK) |
+17.6 % |
Transportation | Iceland Edit |
Norway Edit | |
| One-way Ticket (Local Transport) |
570.00 ISK (44.08 NOK) |
530.23 ISK (41.00 NOK) |
-7.0 % |
| Monthly Pass (Regular Price) |
9,300.00 ISK (719.13 NOK) |
10,332.96 ISK (799.00 NOK) |
+11.1 % |
| Taxi Start (Normal Tariff) |
730.00 ISK (56.45 NOK) |
1,357.90 ISK (105.00 NOK) |
+86.0 % |
| Taxi 1 mile (Normal Tariff) |
487.63 ISK (37.71 NOK) |
353.81 ISK (27.36 NOK) |
-27.4 % |
| Taxi 1hour Waiting (Normal Tariff) |
9,360.00 ISK (723.77 NOK) |
6,983.48 ISK (540.00 NOK) |
-25.4 % |
| Gasoline (1 gallon) |
1,177.00 ISK (91.01 NOK) |
1,055.43 ISK (81.61 NOK) |
-10.3 % |
| Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) |
5,290,000.00 ISK (409,051.10 NOK) |
4,655,653.09 ISK (360,000.00 NOK) |
-12.0 % |
| Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) |
5,774,916.67 ISK (446,547.45 NOK) |
4,731,685.67 ISK (365,879.25 NOK) |
-18.1 % |
Utilities (Monthly) | Iceland Edit |
Norway Edit | |
| Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment |
14,754.80 ISK (1,140.92 NOK) |
28,891.40 ISK (2,234.04 NOK) |
+95.8 % |
| Mobile Phone Monthly Plan with Calls and 10GB+ Data |
3,320.53 ISK (256.76 NOK) |
5,588.36 ISK (432.12 NOK) |
+68.3 % |
| Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) |
9,860.19 ISK (762.44 NOK) |
7,580.14 ISK (586.14 NOK) |
-23.1 % |
Sports And Leisure | Iceland Edit |
Norway Edit | |
| Fitness Club, Monthly Fee for 1 Adult |
8,865.14 ISK (685.50 NOK) |
5,900.06 ISK (456.22 NOK) |
-33.4 % |
| Tennis Court Rent (1 Hour on Weekend) |
4,248.33 ISK (328.50 NOK) |
3,902.82 ISK (301.79 NOK) |
-8.1 % |
| Cinema, International Release, 1 Seat |
2,000.00 ISK (154.65 NOK) |
1,939.86 ISK (150.00 NOK) |
-3.0 % |
Childcare | Iceland Edit |
Norway Edit | |
| Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child |
36,663.56 ISK (2,835.02 NOK) |
42,389.54 ISK (3,277.79 NOK) |
+15.6 % |
| International Primary School, Yearly for 1 Child |
776,250.00 ISK (60,023.80 NOK) |
904,567.53 ISK (69,946.00 NOK) |
+16.5 % |
Clothing And Shoes | Iceland Edit |
Norway Edit | |
| 1 Pair of Jeans (Levis 501 Or Similar) |
16,025.31 ISK (1,239.16 NOK) |
11,800.48 ISK (912.48 NOK) |
-26.4 % |
| 1 Summer Dress in a Chain Store (Zara, H&M, ...) |
6,962.11 ISK (538.35 NOK) |
6,063.59 ISK (468.87 NOK) |
-12.9 % |
| 1 Pair of Nike Running Shoes (Mid-Range) |
21,026.67 ISK (1,625.89 NOK) |
13,826.57 ISK (1,069.14 NOK) |
-34.2 % |
| 1 Pair of Men Leather Business Shoes |
24,089.05 ISK (1,862.69 NOK) |
18,145.05 ISK (1,403.07 NOK) |
-24.7 % |
Rent Per Month | Iceland Edit |
Norway Edit | |
| Apartment (1 bedroom) in City Centre |
242,682.89 ISK (18,765.54 NOK) |
169,962.38 ISK (13,142.40 NOK) |
-30.0 % |
| Apartment (1 bedroom) Outside of Centre |
216,076.84 ISK (16,708.22 NOK) |
119,794.16 ISK (9,263.13 NOK) |
-44.6 % |
| Apartment (3 bedrooms) in City Centre |
341,073.17 ISK (26,373.60 NOK) |
250,737.03 ISK (19,388.33 NOK) |
-26.5 % |
| Apartment (3 bedrooms) Outside of Centre |
308,918.92 ISK (23,887.26 NOK) |
193,880.80 ISK (14,991.90 NOK) |
-37.2 % |
Buy Apartment Price | Iceland Edit |
Norway Edit | |
| Price per Square Feet to Buy Apartment in City Centre |
73,973.43 ISK (5,720.02 NOK) |
80,319.06 ISK (6,210.70 NOK) |
+8.6 % |
| Price per Square Feet to Buy Apartment Outside of Centre |
60,035.57 ISK (4,642.27 NOK) |
54,628.67 ISK (4,224.18 NOK) |
-9.0 % |
Salaries And Financing | Iceland Edit |
Norway Edit | |
| Average Monthly Net Salary (After Tax) |
583,696.73 ISK (45,134.55 NOK) |
464,622.57 ISK (35,927.10 NOK) |
-20.4 % |
| Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate | 7.37 | 4.15 | -43.7 % |
| Last update: | May 2024 | May 2024 | |
| Contributors in the past 12 months: | 201 | 615 |
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