Cost of Living in Iceland
Summary of cost of living in Iceland:
- The estimated monthly costs for a family of four are 5,771.5$ (719,473.6kr), excluding rent.
- The estimated monthly costs for a single person are 1,524.9$ (190,090.6kr), excluding rent.
- Cost of living in Iceland is, on average, 43.8% higher than in United States.
- Rent in Iceland is, on average, 20.4% higher than in United States.
Restaurants |  Edit |
Range |
|---|---|---|
| Meal at an Inexpensive Restaurant | 3,325.00 kr | |
| Meal for Two at a Mid-Range Restaurant (Three Courses, Without Drinks) | 16,000.00 kr | |
| Combo Meal at McDonald's (or Equivalent Fast-Food Meal) | 2,725.00 kr | |
| Domestic Draft Beer (1 Pint) | 1,500.00 kr | |
| Imported Beer (12 oz Small Bottle) | 1,475.00 kr | |
| Cappuccino (Regular Size) | 744.55 kr | |
| Soft Drink (Coca-Cola or Pepsi, 12 oz Small Bottle) | 399.87 kr | |
| Bottled Water (12 oz) | 335.81 kr | |
Markets | Edit |
|
| Milk (Regular, 1 Liter) | 245.50 kr | |
| Fresh White Bread (1 lb Loaf) | 468.99 kr | |
| White Rice (1 lb) | 196.31 kr | |
| Eggs (12, Large Size) | 830.39 kr | |
| Local Cheese (1 lb) | 1,093.75 kr | |
| Chicken Fillets (1 lb) | 1,374.17 kr | |
| Beef Round or Equivalent Back Leg Red Meat (1 lb) | 2,350.10 kr | |
| Apples (1 lb) | 189.44 kr | |
| Bananas (1 lb) | 142.83 kr | |
| Oranges (1 lb) | 178.99 kr | |
| Tomatoes (1 lb) | 292.64 kr | |
| Potatoes (1 lb) | 198.04 kr | |
| Onions (1 lb) | 135.65 kr | |
| Lettuce (1 Head) | 358.46 kr | |
| Bottled Water (50 oz) | 278.39 kr | |
| Bottle of Wine (Mid-Range) | 2,900.00 kr | |
| Domestic Beer (16.9 oz Bottle) | 465.33 kr | |
| Imported Beer (12 oz Small Bottle) | 413.75 kr | |
| Cigarettes (Pack of 20, Marlboro) | 1,700.00 kr | |
Transportation | Edit |
|
| One-Way Ticket (Local Transport) | 650.00 kr | |
| Monthly Public Transport Pass (Regular Price) | 10,800.00 kr | |
| Taxi Start (Standard Tariff) | 790.00 kr | |
| Taxi 1 mile (Standard Tariff) | 580.41 kr | |
| Taxi 1 Hour Waiting (Standard Tariff) | 10,810.00 kr | |
| Gasoline (1 Liter) | 311.86 kr | |
| Volkswagen Golf 1.5 (or Equivalent New Compact Car) | 6,190,000.00 kr | |
| Toyota Corolla Sedan 1.6 (or Equivalent New Mid-Size Car) | 6,623,333.33 kr | |
Utilities (Monthly) | Edit |
|
| Basic Utilities for 915 Square Feet Apartment (Electricity, Heating, Cooling, Water, Garbage) | 10,519.92 kr | |
| Mobile Phone Plan (Monthly, with Calls and 10GB+ Data) | 3,683.53 kr | |
| Broadband Internet (Unlimited Data, 60 Mbps or Higher) | 10,761.93 kr | |
Sports And Leisure | Edit |
|
| Monthly Fitness Club Membership | 10,662.04 kr | |
| Tennis Court Rental (1 Hour, Weekend) | 6,180.00 kr | |
| Cinema Ticket (International Release) | 2,120.00 kr | |
Childcare | Edit |
|
| Private Full-Day Preschool or Kindergarten, Monthly Fee per Child | 45,902.73 kr | |
| International Primary School, Annual Tuition per Child | 3,744,295.00 kr | |
Clothing And Shoes | Edit |
|
| Jeans (Levi's 501 or Similar) | 17,117.50 kr | |
| Summer Dress in a Chain Store (e.g. Zara or H&M) | 7,581.67 kr | |
| Nike Running Shoes (Mid-Range) | 21,062.50 kr | |
| Men's Leather Business Shoes | 28,333.33 kr | |
Rent Per Month | Edit |
|
| 1 Bedroom Apartment in City Centre | 285,652.17 kr | |
| 1 Bedroom Apartment Outside of City Centre | 248,269.23 kr | |
| 3 Bedroom Apartment in City Centre | 395,250.00 kr | |
| 3 Bedroom Apartment Outside of City Centre | 330,454.55 kr | |
Buy Apartment Price | Edit |
|
| Price per Square Feet to Buy Apartment in City Centre | 87,587.70 kr | |
| Price per Square Feet to Buy Apartment Outside of Centre | 72,436.86 kr | |
Salaries And Financing | Edit |
|
| Average Monthly Net Salary (After Tax) | 568,310.22 kr | |
| Annual Mortgage Interest Rate (20-Year Fixed, in %) | 9.59 |
Prices in Iceland
This country had 1151 entries in the past 12 months by 167 different contributors.
Last update: 2 November 2025
Our data for each country are based on all entries from all cities in that country.
Last update: 2 November 2025
Our data for each country are based on all entries from all cities in that country.
Sources and References
Moving to Iceland? Explore:
Distribution of Expenses Using Our Statistical Model:
Moving to Iceland? Explore:
This Page in Other Languages:
 DeutschLebenshaltungskosten in Island
|
 PortuguêsCusto de Vida na Islândia
|
 ItalianoCosto della Vita in Islanda
|
 FrançaisCoût de la Vie en Islande
|
 EspañolCosto de Vida en Islandia
|