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Cost of Living in Iceland

Cost of living in Iceland is 66.65% higher than in United States (aggregate data for all cities, rent is not taken into account). Rent in Iceland is 37.23% higher than in United States (average data for all cities).
Restaurants [ Edit ] Range
Meal, Inexpensive Restaurant 2,200.00 kr 1,980.00-2,800.00
Meal for 2 People, Mid-range Restaurant, Three-course 12,000.00 kr 8,000.00-15,000.00
McMeal at McDonalds (or Equivalent Combo Meal) 1,600.00 kr 1,499.00-1,930.00
Domestic Beer (1 pint draught) 1,100.00 kr 1,000.00-1,200.00
Imported Beer (11.2 oz small bottle) 1,000.00 kr 700.00-1,200.00
Cappuccino (regular) 527.55 kr 420.00-616.97
Coke/Pepsi (11.2 oz small bottle) 287.26 kr 200.00-400.00
Water (11.2 oz small bottle) 220.93 kr 150.00-300.00
Markets [ Edit ]
Milk (regular), (1 gallon) 573.72 kr 492.10-681.37
Loaf of Fresh White Bread (1 lb) 329.01 kr 215.46-453.59
Rice (white), (1 lb) 161.72 kr 113.40-230.88
Eggs (regular) (12) 610.95 kr 500.00-700.00
Local Cheese (1 lb) 745.09 kr 563.82-907.19
Chicken Breasts (Boneless, Skinless), (1 lb) 953.88 kr 680.39-1,231.36
Beef Round (1 lb) (or Equivalent Back Leg Red Meat) 1,414.85 kr 906.28-1,814.37
Apples (1 lb) 138.75 kr 89.81-226.80
Banana (1 lb) 125.27 kr 103.87-187.79
Oranges (1 lb) 141.49 kr 108.86-176.90
Tomato (1 lb) 232.52 kr 158.30-317.52
Potato (1 lb) 126.92 kr 90.72-167.38
Onion (1 lb) 75.49 kr 45.36-136.08
Lettuce (1 head) 309.06 kr 200.00-400.00
Water (1.5 liter bottle) 243.05 kr 169.00-350.00
Bottle of Wine (Mid-Range) 2,500.00 kr 2,000.00-3,000.00
Domestic Beer (0.5 liter bottle) 394.44 kr 320.00-500.00
Imported Beer (11.2 oz small bottle) 359.35 kr 300.00-450.00
Pack of Cigarettes (Marlboro) 1,300.00 kr 1,200.00-1,500.00
Transportation [ Edit ]
One-way Ticket (Local Transport) 440.00 kr 420.00-450.00
Monthly Pass (Regular Price) 11,750.00 kr 11,300.00-11,750.00
Taxi Start (Normal Tariff) 690.00 kr 690.00-790.00
Taxi 1 mile (Normal Tariff) 482.80 kr 366.93-532.69
Taxi 1hour Waiting (Normal Tariff) 7,440.00 kr 7,440.00-8,000.00
Gasoline (1 gallon) 742.70 kr 704.09-760.87
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) 3,300,000.00 kr 3,090,000.00-3,450,000.00
Toyota Corolla 1.6l 97kW Comfort (Or Equivalent New Car) 3,561,000.00 kr 3,080,000.00-3,910,000.00
Utilities (Monthly) [ Edit ]
Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment 12,229.11 kr 6,000.00-20,000.00
1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) 19.77 kr 15.00-23.00
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) 6,402.24 kr 3,990.00-8,900.00
Sports And Leisure [ Edit ]
Fitness Club, Monthly Fee for 1 Adult 7,912.70 kr 6,000.00-12,490.00
Tennis Court Rent (1 Hour on Weekend) 3,145.45 kr 1,500.00-4,000.00
Cinema, International Release, 1 Seat 1,490.00 kr 1,300.00-1,550.00
Childcare [ Edit ]
Preschool (or Kindergarten), Private, Monthly for 1 Child 36,144.11 kr 30,000.00-46,855.00
International Primary School, Yearly for 1 Child 2,400,000.00 kr 2,400,000.00-2,400,000.00
Clothing And Shoes [ Edit ]
1 Pair of Jeans (Levis 501 Or Similar) 15,615.63 kr 10,000.00-20,000.00
1 Summer Dress in a Chain Store (Zara, H&M, ...) 9,415.83 kr 5,995.00-12,900.00
1 Pair of Nike Running Shoes (Mid-Range) 18,379.68 kr 12,000.00-24,900.00
1 Pair of Men Leather Business Shoes 24,961.15 kr 19,995.00-32,995.00
Rent Per Month [ Edit ]
Apartment (1 bedroom) in City Centre 171,488.11 kr 120,000.00-220,000.00
Apartment (1 bedroom) Outside of Centre 137,228.93 kr 100,000.00-180,000.00
Apartment (3 bedrooms) in City Centre 263,846.15 kr 210,000.00-300,000.00
Apartment (3 bedrooms) Outside of Centre 220,000.00 kr 165,000.00-250,000.00
Buy Apartment Price [ Edit ]
Price per Square Feet to Buy Apartment in City Centre 49,334.54 kr 37,160.91-60,386.47
Price per Square Feet to Buy Apartment Outside of Centre 35,885.29 kr 27,870.68-46,451.13
Salaries And Financing [ Edit ]
Average Monthly Net Salary (After Tax) 319,646.27 kr
Mortgage Interest Rate in Percentages (%), Yearly, Fixed-Rate 6.36 4.15-7.80

Prices in Iceland

These data are based on 2423 entries in the past 18 months from 258 different contributors.
Last update: December 2017
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 | 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, Borgarnes, Dalvik, Drangsnes, Egilsstadir, Eidar, ... Update information for Iceland!