Cost of Living Comparison Between Norway and Iceland 
| Indices Difference |  |
|---|---|
| Cost of Living in Iceland is 17.1% higher than in Norway (excluding rent) | |
| Cost of Living Including Rent in Iceland is 28.6% higher than in Norway | |
| Rent Prices in Iceland are 69.5% higher than in Norway | |
| Restaurant Prices in Iceland are 23.1% higher than in Norway | |
| Groceries Prices in Iceland are 22.4% higher than in Norway | |
| Local Purchasing Power in Iceland is 6.2% lower than in Norway | |
Restaurants | Norway Edit |
Iceland Edit | Difference |
|---|---|---|---|
| Meal, Inexpensive Restaurant |
230.00 NOK (2,894.10 ISK) |
252.32 NOK (3,175.00 ISK) |
+9.7 % |
| Meal for 2 People, Mid-range Restaurant, Three-course |
1,000.00 NOK (12,583.06 ISK) |
1,430.49 NOK (18,000.00 ISK) |
+43.0 % |
| McMeal at McDonalds (or Equivalent Combo Meal) |
149.00 NOK (1,874.88 ISK) |
198.68 NOK (2,500.00 ISK) |
+33.3 % |
| Domestic Beer (1 pint draught) |
110.00 NOK (1,384.14 ISK) |
119.21 NOK (1,500.00 ISK) |
+8.4 % |
| Imported Beer (12 oz small bottle) |
100.00 NOK (1,258.31 ISK) |
103.31 NOK (1,300.00 ISK) |
+3.3 % |
| Cappuccino (regular) |
50.39 NOK (634.06 ISK) |
59.61 NOK (750.13 ISK) |
+18.3 % |
| Coke/Pepsi (12 oz small bottle) |
34.57 NOK (435.04 ISK) |
32.02 NOK (402.88 ISK) |
-7.4 % |
| Water (12 oz small bottle) |
28.33 NOK (356.45 ISK) |
26.04 NOK (327.62 ISK) |
-8.1 % |
Markets | Norway Edit |
Iceland Edit | |
| Milk (regular), (1 gallon) |
86.19 NOK (1,084.52 ISK) |
70.82 NOK (891.09 ISK) |
-17.8 % |
| Loaf of Fresh White Bread (1 lb) |
30.76 NOK (387.08 ISK) |
36.88 NOK (464.12 ISK) |
+19.9 % |
| Rice (white), (1 lb) |
14.75 NOK (185.61 ISK) |
15.63 NOK (196.62 ISK) |
+5.9 % |
| Eggs (regular) (12) |
45.05 NOK (566.91 ISK) |
63.89 NOK (803.95 ISK) |
+41.8 % |
| Local Cheese (1 lb) |
54.64 NOK (687.56 ISK) |
83.47 NOK (1,050.28 ISK) |
+52.8 % |
| Chicken Fillets (1 lb) |
68.77 NOK (865.39 ISK) |
108.13 NOK (1,360.57 ISK) |
+57.2 % |
| Beef Round (1 lb) (or Equivalent Back Leg Red Meat) |
134.34 NOK (1,690.45 ISK) |
191.94 NOK (2,415.14 ISK) |
+42.9 % |
| Apples (1 lb) |
15.46 NOK (194.49 ISK) |
13.85 NOK (174.26 ISK) |
-10.4 % |
| Banana (1 lb) |
11.55 NOK (145.37 ISK) |
11.05 NOK (139.01 ISK) |
-4.4 % |
| Oranges (1 lb) |
14.83 NOK (186.56 ISK) |
13.03 NOK (163.94 ISK) |
-12.1 % |
| Tomato (1 lb) |
21.32 NOK (268.22 ISK) |
21.99 NOK (276.66 ISK) |
+3.1 % |
| Potato (1 lb) |
10.85 NOK (136.50 ISK) |
16.12 NOK (202.90 ISK) |
+48.6 % |
| Onion (1 lb) |
11.94 NOK (150.20 ISK) |
10.02 NOK (126.10 ISK) |
-16.0 % |
| Lettuce (1 head) |
27.26 NOK (343.04 ISK) |
31.33 NOK (394.21 ISK) |
+14.9 % |
| Water (1.5 liter bottle) |
22.13 NOK (278.48 ISK) |
22.17 NOK (278.99 ISK) |
+0.2 % |
| Bottle of Wine (Mid-Range) |
169.50 NOK (2,132.83 ISK) |
234.44 NOK (2,950.00 ISK) |
+38.3 % |
| Domestic Beer (0.5 liter bottle) |
34.06 NOK (428.53 ISK) |
36.41 NOK (458.18 ISK) |
+6.9 % |
| Imported Beer (12 oz small bottle) |
42.36 NOK (533.04 ISK) |
30.96 NOK (389.57 ISK) |
-26.9 % |
| Cigarettes 20 Pack (Marlboro) |
155.00 NOK (1,950.37 ISK) |
140.63 NOK (1,769.50 ISK) |
-9.3 % |
Transportation | Norway Edit |
Iceland Edit | |
| One-way Ticket (Local Transport) |
42.00 NOK (528.49 ISK) |
50.86 NOK (640.00 ISK) |
+21.1 % |
| Monthly Pass (Regular Price) |
778.00 NOK (9,789.62 ISK) |
830.48 NOK (10,450.00 ISK) |
+6.7 % |
| Taxi Start (Normal Tariff) |
125.00 NOK (1,572.88 ISK) |
62.78 NOK (790.00 ISK) |
-49.8 % |
| Taxi 1 mile (Normal Tariff) |
28.57 NOK (359.45 ISK) |
41.44 NOK (521.43 ISK) |
+45.1 % |
| Taxi 1hour Waiting (Normal Tariff) |
540.00 NOK (6,794.85 ISK) |
851.14 NOK (10,710.00 ISK) |
+57.6 % |
| Gasoline (1 gallon) |
81.59 NOK (1,026.63 ISK) |
93.75 NOK (1,179.65 ISK) |
+14.9 % |
| Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) |
370,000.00 NOK (4,655,733.61 ISK) |
468,089.50 NOK (5,890,000.00 ISK) |
+26.5 % |
| Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) |
393,257.82 NOK (4,948,388.22 ISK) |
529,812.67 NOK (6,666,666.67 ISK) |
+34.7 % |
Utilities (Monthly) | Norway Edit |
Iceland Edit | |
| Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment |
2,439.86 NOK (30,700.93 ISK) |
888.75 NOK (11,183.22 ISK) |
-63.6 % |
| Mobile Phone Monthly Plan with Calls and 10GB+ Data |
387.60 NOK (4,877.21 ISK) |
272.62 NOK (3,430.36 ISK) |
-29.7 % |
| Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) |
620.36 NOK (7,806.02 ISK) |
856.98 NOK (10,783.47 ISK) |
+38.1 % |
Sports And Leisure | Norway Edit |
Iceland Edit | |
| Fitness Club, Monthly Fee for 1 Adult |
491.31 NOK (6,182.20 ISK) |
791.00 NOK (9,953.18 ISK) |
+61.0 % |
| Tennis Court Rent (1 Hour on Weekend) |
341.56 NOK (4,297.82 ISK) |
370.87 NOK (4,666.67 ISK) |
+8.6 % |
| Cinema, International Release, 1 Seat |
160.00 NOK (2,013.29 ISK) |
174.04 NOK (2,190.00 ISK) |
+8.8 % |
Childcare | Norway Edit |
Iceland Edit | |
| Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child |
2,993.97 NOK (37,673.35 ISK) |
3,467.38 NOK (43,630.30 ISK) |
+15.8 % |
| International Primary School, Yearly for 1 Child |
76,031.68 NOK (956,711.48 ISK) |
297,566.24 NOK (3,744,295.00 ISK) |
+291.4 % |
Clothing And Shoes | Norway Edit |
Iceland Edit | |
| 1 Pair of Jeans (Levis 501 Or Similar) |
988.82 NOK (12,442.44 ISK) |
1,368.69 NOK (17,222.35 ISK) |
+38.4 % |
| 1 Summer Dress in a Chain Store (Zara, H&M, ...) |
523.11 NOK (6,582.27 ISK) |
629.02 NOK (7,915.00 ISK) |
+20.2 % |
| 1 Pair of Nike Running Shoes (Mid-Range) |
1,142.99 NOK (14,382.30 ISK) |
1,725.86 NOK (21,716.67 ISK) |
+51.0 % |
| 1 Pair of Men Leather Business Shoes |
1,515.55 NOK (19,070.23 ISK) |
2,509.82 NOK (31,581.25 ISK) |
+65.6 % |
Rent Per Month | Norway Edit |
Iceland Edit | |
| Apartment (1 bedroom) in City Centre |
12,932.05 NOK (162,724.83 ISK) |
21,854.77 NOK (275,000.00 ISK) |
+69.0 % |
| Apartment (1 bedroom) Outside of Centre |
9,959.52 NOK (125,321.32 ISK) |
19,735.52 NOK (248,333.33 ISK) |
+98.2 % |
| Apartment (3 bedrooms) in City Centre |
20,290.79 NOK (255,320.27 ISK) |
31,308.87 NOK (393,961.54 ISK) |
+54.3 % |
| Apartment (3 bedrooms) Outside of Centre |
15,687.50 NOK (197,396.81 ISK) |
26,867.39 NOK (338,074.07 ISK) |
+71.3 % |
Buy Apartment Price | Norway Edit |
Iceland Edit | |
| Price per Square Feet to Buy Apartment in City Centre |
6,935.43 NOK (87,268.93 ISK) |
6,864.00 NOK (86,370.14 ISK) |
-1.0 % |
| Price per Square Feet to Buy Apartment Outside of Centre |
4,648.48 NOK (58,492.12 ISK) |
5,826.31 NOK (73,312.85 ISK) |
+25.3 % |
Salaries And Financing | Norway Edit |
Iceland Edit | |
| Average Monthly Net Salary (After Tax) |
37,155.84 NOK (467,534.27 ISK) |
44,820.01 NOK (563,973.03 ISK) |
+20.6 % |
| Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate | 4.53 | 9.90 | +118.3 % |
| Last update: | 23 May 2025 | 21 May 2025 | |
| Contributors in the past 12 months: | 552 | 152 |
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