Cost of Living Comparison Between Norway and Iceland 
| Indices Difference |  |
|---|---|
| Consumer Prices in Iceland are 11.9% higher than in Norway (without rent) | |
| Consumer Prices Including Rent in Iceland are 21.6% higher than in Norway | |
| Rent Prices in Iceland are 52.2% higher than in Norway | |
| Restaurant Prices in Iceland are 20.5% higher than in Norway | |
| Groceries Prices in Iceland are 15.5% higher than in Norway | |
| Local Purchasing Power in Iceland is 4.8% higher than in Norway | |
Restaurants | Norway Edit |
Iceland Edit | Difference |
|---|---|---|---|
| Meal, Inexpensive Restaurant |
200.00 NOK (2,547.18 ISK) |
235.55 NOK (3,000.00 ISK) |
+17.8 % |
| Meal for 2 People, Mid-range Restaurant, Three-course |
1,000.00 NOK (12,735.88 ISK) |
1,288.31 NOK (16,407.80 ISK) |
+28.8 % |
| McMeal at McDonalds (or Equivalent Combo Meal) |
130.00 NOK (1,655.66 ISK) |
180.51 NOK (2,299.00 ISK) |
+38.9 % |
| Domestic Beer (1 pint draught) |
100.00 NOK (1,273.59 ISK) |
109.93 NOK (1,400.00 ISK) |
+9.9 % |
| Imported Beer (12 oz small bottle) |
99.00 NOK (1,260.85 ISK) |
94.22 NOK (1,200.00 ISK) |
-4.8 % |
| Cappuccino (regular) |
47.27 NOK (602.08 ISK) |
53.15 NOK (676.92 ISK) |
+12.4 % |
| Coke/Pepsi (12 oz small bottle) |
33.33 NOK (424.48 ISK) |
30.79 NOK (392.09 ISK) |
-7.6 % |
| Water (12 oz small bottle) |
27.31 NOK (347.78 ISK) |
22.83 NOK (290.70 ISK) |
-16.4 % |
Markets | Norway Edit |
Iceland Edit | |
| Milk (regular), (1 gallon) |
82.50 NOK (1,050.67 ISK) |
66.13 NOK (842.21 ISK) |
-19.8 % |
| Loaf of Fresh White Bread (1 lb) |
29.88 NOK (380.61 ISK) |
34.24 NOK (436.03 ISK) |
+14.6 % |
| Rice (white), (1 lb) |
13.87 NOK (176.60 ISK) |
15.59 NOK (198.49 ISK) |
+12.4 % |
| Eggs (regular) (12) |
41.16 NOK (524.21 ISK) |
62.46 NOK (795.53 ISK) |
+51.8 % |
| Local Cheese (1 lb) |
52.20 NOK (664.83 ISK) |
71.95 NOK (916.39 ISK) |
+37.8 % |
| Chicken Fillets (1 lb) |
64.83 NOK (825.67 ISK) |
91.41 NOK (1,164.19 ISK) |
+41.0 % |
| Beef Round (1 lb) (or Equivalent Back Leg Red Meat) |
133.41 NOK (1,699.12 ISK) |
152.71 NOK (1,944.92 ISK) |
+14.5 % |
| Apples (1 lb) |
14.48 NOK (184.42 ISK) |
15.47 NOK (197.02 ISK) |
+6.8 % |
| Banana (1 lb) |
10.66 NOK (135.81 ISK) |
10.86 NOK (138.32 ISK) |
+1.9 % |
| Oranges (1 lb) |
13.98 NOK (178.05 ISK) |
13.44 NOK (171.22 ISK) |
-3.8 % |
| Tomato (1 lb) |
19.79 NOK (252.06 ISK) |
22.98 NOK (292.63 ISK) |
+16.1 % |
| Potato (1 lb) |
10.00 NOK (127.30 ISK) |
15.14 NOK (192.77 ISK) |
+51.4 % |
| Onion (1 lb) |
10.89 NOK (138.69 ISK) |
9.45 NOK (120.38 ISK) |
-13.2 % |
| Lettuce (1 head) |
25.72 NOK (327.61 ISK) |
34.08 NOK (434.00 ISK) |
+32.5 % |
| Water (1.5 liter bottle) |
21.92 NOK (279.17 ISK) |
23.06 NOK (293.65 ISK) |
+5.2 % |
| Bottle of Wine (Mid-Range) |
150.00 NOK (1,910.38 ISK) |
215.93 NOK (2,750.00 ISK) |
+44.0 % |
| Domestic Beer (0.5 liter bottle) |
33.63 NOK (428.36 ISK) |
34.52 NOK (439.70 ISK) |
+2.6 % |
| Imported Beer (12 oz small bottle) |
43.13 NOK (549.36 ISK) |
29.02 NOK (369.58 ISK) |
-32.7 % |
| Cigarettes 20 Pack (Marlboro) |
150.00 NOK (1,910.38 ISK) |
125.63 NOK (1,600.00 ISK) |
-16.2 % |
Transportation | Norway Edit |
Iceland Edit | |
| One-way Ticket (Local Transport) |
41.00 NOK (522.17 ISK) |
44.76 NOK (570.00 ISK) |
+9.2 % |
| Monthly Pass (Regular Price) |
800.00 NOK (10,188.71 ISK) |
730.22 NOK (9,300.00 ISK) |
-8.7 % |
| Taxi Start (Normal Tariff) |
105.00 NOK (1,337.27 ISK) |
57.32 NOK (730.00 ISK) |
-45.4 % |
| Taxi 1 mile (Normal Tariff) |
27.36 NOK (348.44 ISK) |
40.94 NOK (521.43 ISK) |
+49.6 % |
| Taxi 1hour Waiting (Normal Tariff) |
540.00 NOK (6,877.38 ISK) |
734.93 NOK (9,360.00 ISK) |
+36.1 % |
| Gasoline (1 gallon) |
81.65 NOK (1,039.88 ISK) |
92.36 NOK (1,176.34 ISK) |
+13.1 % |
| Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) |
358,100.00 NOK (4,560,719.15 ISK) |
407,902.67 NOK (5,195,000.00 ISK) |
+13.9 % |
| Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) |
366,106.78 NOK (4,662,692.53 ISK) |
459,775.23 NOK (5,855,642.86 ISK) |
+25.6 % |
Utilities (Monthly) | Norway Edit |
Iceland Edit | |
| Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment |
2,211.23 NOK (28,161.91 ISK) |
1,159.70 NOK (14,769.74 ISK) |
-47.6 % |
| Mobile Phone Monthly Plan with Calls and 10GB+ Data |
435.55 NOK (5,547.14 ISK) |
260.72 NOK (3,320.53 ISK) |
-40.1 % |
| Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) |
588.62 NOK (7,496.64 ISK) |
774.48 NOK (9,863.70 ISK) |
+31.6 % |
Sports And Leisure | Norway Edit |
Iceland Edit | |
| Fitness Club, Monthly Fee for 1 Adult |
455.02 NOK (5,795.12 ISK) |
696.08 NOK (8,865.14 ISK) |
+53.0 % |
| Tennis Court Rent (1 Hour on Weekend) |
309.47 NOK (3,941.35 ISK) |
333.57 NOK (4,248.33 ISK) |
+7.8 % |
| Cinema, International Release, 1 Seat |
150.00 NOK (1,910.38 ISK) |
157.04 NOK (2,000.00 ISK) |
+4.7 % |
Childcare | Norway Edit |
Iceland Edit | |
| Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child |
3,287.22 NOK (41,865.67 ISK) |
2,947.46 NOK (37,538.56 ISK) |
-10.3 % |
| International Primary School, Yearly for 1 Child |
64,229.31 NOK (818,016.88 ISK) |
60,949.84 NOK (776,250.00 ISK) |
-5.1 % |
Clothing And Shoes | Norway Edit |
Iceland Edit | |
| 1 Pair of Jeans (Levis 501 Or Similar) |
910.57 NOK (11,596.93 ISK) |
1,273.08 NOK (16,213.77 ISK) |
+39.8 % |
| 1 Summer Dress in a Chain Store (Zara, H&M, ...) |
467.48 NOK (5,953.80 ISK) |
556.98 NOK (7,093.68 ISK) |
+19.1 % |
| 1 Pair of Nike Running Shoes (Mid-Range) |
1,066.17 NOK (13,578.65 ISK) |
1,648.38 NOK (20,993.55 ISK) |
+54.6 % |
| 1 Pair of Men Leather Business Shoes |
1,393.21 NOK (17,743.74 ISK) |
1,951.79 NOK (24,857.73 ISK) |
+40.1 % |
Rent Per Month | Norway Edit |
Iceland Edit | |
| Apartment (1 bedroom) in City Centre |
13,272.73 NOK (169,039.86 ISK) |
19,057.88 NOK (242,718.89 ISK) |
+43.6 % |
| Apartment (1 bedroom) Outside of Centre |
9,302.82 NOK (118,479.58 ISK) |
16,965.29 NOK (216,067.94 ISK) |
+82.4 % |
| Apartment (3 bedrooms) in City Centre |
19,559.93 NOK (249,112.97 ISK) |
26,780.49 NOK (341,073.17 ISK) |
+36.9 % |
| Apartment (3 bedrooms) Outside of Centre |
15,064.92 NOK (191,864.98 ISK) |
24,262.16 NOK (309,000.00 ISK) |
+61.1 % |
Buy Apartment Price | Norway Edit |
Iceland Edit | |
| Price per Square Feet to Buy Apartment in City Centre |
6,287.03 NOK (80,070.86 ISK) |
5,851.97 NOK (74,530.04 ISK) |
-6.9 % |
| Price per Square Feet to Buy Apartment Outside of Centre |
4,332.89 NOK (55,183.17 ISK) |
4,732.49 NOK (60,272.40 ISK) |
+9.2 % |
Salaries And Financing | Norway Edit |
Iceland Edit | |
| Average Monthly Net Salary (After Tax) |
35,763.57 NOK (455,480.57 ISK) |
45,583.65 NOK (580,547.94 ISK) |
+27.5 % |
| Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate | 4.07 | 7.37 | +81.0 % |
| Last update: | April 2024 | April 2024 | |
| Contributors in the past 12 months: | 605 | 199 |
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