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Cost of Living in Iceland

Cost of living in Iceland is 37.61% higher than in United States (aggregate data for all cities, rent is not taken into account). Rent in Iceland is 12.45% higher than in United States (average data for all cities).
Restaurants [ Edit ] Range
Meal, Inexpensive Restaurant 2,500.00 kr 1,700.00-3,000.00
Meal for 2 People, Mid-range Restaurant, Three-course 12,000.00 kr 8,000.00-16,000.00
McMeal at McDonalds (or Equivalent Combo Meal) 1,531.84 kr 1,490.00-1,890.00
Domestic Beer (1 pint draught) 1,100.00 kr 1,000.00-1,290.00
Imported Beer (12 oz small bottle) 1,000.00 kr 800.00-1,200.00
Cappuccino (regular) 546.75 kr 419.00-650.00
Coke/Pepsi (12 oz small bottle) 298.93 kr 180.00-450.00
Water (12 oz small bottle) 246.15 kr 150.00-350.00
Markets [ Edit ]
Milk (regular), (1 gallon) 584.76 kr 537.53-677.59
Loaf of Fresh White Bread (1 lb) 317.72 kr 235.87-408.23
Rice (white), (1 lb) 147.41 kr 90.72-262.18
Eggs (regular) (12) 614.60 kr 500.00-750.00
Local Cheese (1 lb) 780.89 kr 589.67-1,133.98
Chicken Breasts (Boneless, Skinless), (1 lb) 897.37 kr 725.75-1,043.26
Beef Round (1 lb) (or Equivalent Back Leg Red Meat) 1,347.49 kr 907.19-1,814.37
Apples (1 lb) 130.81 kr 99.79-188.46
Banana (1 lb) 112.37 kr 90.72-172.37
Oranges (1 lb) 136.91 kr 113.40-188.46
Tomato (1 lb) 215.62 kr 136.08-272.16
Potato (1 lb) 120.24 kr 90.72-176.90
Onion (1 lb) 95.98 kr 36.29-136.08
Lettuce (1 head) 289.33 kr 188.46-400.00
Water (1.5 liter bottle) 213.01 kr 125.64-300.00
Bottle of Wine (Mid-Range) 2,500.00 kr 2,000.00-3,000.00
Domestic Beer (0.5 liter bottle) 336.30 kr 289.00-400.00
Imported Beer (12 oz small bottle) 338.95 kr 280.00-420.00
Cigarettes 20 Pack (Marlboro) 1,370.00 kr 1,200.00-1,500.00
Transportation [ Edit ]
One-way Ticket (Local Transport) 460.00 kr 440.00-470.00
Monthly Pass (Regular Price) 12,300.00 kr 11,750.00-12,800.00
Taxi Start (Normal Tariff) 690.00 kr 690.00-800.00
Taxi 1 mile (Normal Tariff) 463.49 kr 389.46-709.72
Taxi 1hour Waiting (Normal Tariff) 7,920.00 kr 7,440.00-9,960.00
Gasoline (1 gallon) 841.12 kr 776.01-889.57
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) 3,500,000.00 kr 3,100,000.00-4,190,000.00
Toyota Corolla 1.6l 97kW Comfort (Or Equivalent New Car) 3,924,827.59 kr 3,200,000.00-4,500,000.00
Utilities (Monthly) [ Edit ]
Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment 11,915.85 kr 7,083.33-19,318.18
1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) 20.33 kr 15.00-25.00
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) 7,838.49 kr 5,000.00-10,200.00
Sports And Leisure [ Edit ]
Fitness Club, Monthly Fee for 1 Adult 7,570.76 kr 6,000.00-11,430.00
Tennis Court Rent (1 Hour on Weekend) 4,337.50 kr 3,000.00-9,000.00
Cinema, International Release, 1 Seat 1,550.00 kr 1,400.00-1,700.00
Childcare [ Edit ]
Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child 35,285.74 kr 25,963.00-45,000.00
International Primary School, Yearly for 1 Child 866,666.67 kr 600,000.00-2,000,000.00
Clothing And Shoes [ Edit ]
1 Pair of Jeans (Levis 501 Or Similar) 14,242.50 kr 8,000.00-20,000.00
1 Summer Dress in a Chain Store (Zara, H&M, ...) 6,491.39 kr 4,000.00-12,000.00
1 Pair of Nike Running Shoes (Mid-Range) 17,971.00 kr 13,000.00-25,000.00
1 Pair of Men Leather Business Shoes 23,421.43 kr 16,000.00-30,000.00
Rent Per Month [ Edit ]
Apartment (1 bedroom) in City Centre 184,326.92 kr 140,000.00-250,000.00
Apartment (1 bedroom) Outside of Centre 152,386.36 kr 110,000.00-200,000.00
Apartment (3 bedrooms) in City Centre 278,437.50 kr 210,000.00-380,000.00
Apartment (3 bedrooms) Outside of Centre 235,291.67 kr 190,000.00-285,000.00
Buy Apartment Price [ Edit ]
Price per Square Feet to Buy Apartment in City Centre 52,928.52 kr 44,593.09-65,031.59
Price per Square Feet to Buy Apartment Outside of Centre 40,583.89 kr 32,515.79-50,167.22
Salaries And Financing [ Edit ]
Average Monthly Net Salary (After Tax) 389,657.82 kr
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 6.27 5.00-7.50

Prices in Iceland

These data are based on 2764 entries in the past 18 months from 335 different contributors.
Last update: June 2019
Our data for each country are based on all entries from all cities in that country.
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DeutschLebenshaltungskosten in Island
PortuguêsCusto de Vida na Islândia
ItalianoCosto della Vita in Islanda
FrançaisCoût de la Vie en Islande
EspañolCosto de Vida en Islandia

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Cost of Living in this country for some cities: Reykjavik

We would like to gather more data for: Akranes, Bakkafjordur, Bildudalur, Blonduos, Bolungarvik, Bordeyri, Borgarnes, Dalvik, Drangsnes, Egilsstadir, Eidar, ... Update information for Iceland!