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Cost of Living in Iceland

Cost of living in Iceland is 39.24% higher than in United States (aggregate data for all cities, rent is not taken into account). Rent in Iceland is 17.70% higher than in United States (average data for all cities).
Restaurants [ Edit ] Range
Meal, Inexpensive Restaurant 2,400.00 kr 1,700.00-3,000.00
Meal for 2 People, Mid-range Restaurant, Three-course 11,000.00 kr 7,401.00-15,000.00
McMeal at McDonalds (or Equivalent Combo Meal) 1,526.43 kr 1,400.00-1,800.00
Domestic Beer (1 pint draught) 1,100.00 kr 1,000.00-1,200.00
Imported Beer (12 oz small bottle) 1,000.00 kr 800.00-1,200.00
Cappuccino (regular) 534.36 kr 450.00-650.00
Coke/Pepsi (12 oz small bottle) 299.51 kr 200.00-450.00
Water (12 oz small bottle) 246.58 kr 150.00-350.00
Markets [ Edit ]
Milk (regular), (1 gallon) 586.25 kr 529.96-681.37
Loaf of Fresh White Bread (1 lb) 322.70 kr 235.87-362.87
Rice (white), (1 lb) 157.82 kr 113.40-246.70
Eggs (regular) (12) 611.43 kr 500.00-700.00
Local Cheese (1 lb) 792.46 kr 657.71-952.55
Chicken Breasts (Boneless, Skinless), (1 lb) 931.00 kr 725.75-1,133.98
Beef Round (1 lb) (or Equivalent Back Leg Red Meat) 1,338.55 kr 861.83-1,769.01
Apples (1 lb) 141.80 kr 89.81-226.80
Banana (1 lb) 120.10 kr 90.72-185.03
Oranges (1 lb) 145.80 kr 113.40-185.03
Tomato (1 lb) 228.23 kr 136.08-317.52
Potato (1 lb) 117.80 kr 90.72-136.08
Onion (1 lb) 85.20 kr 36.29-136.08
Lettuce (1 head) 292.39 kr 150.00-400.00
Water (1.5 liter bottle) 229.00 kr 123.35-310.00
Bottle of Wine (Mid-Range) 2,500.00 kr 2,000.00-3,000.00
Domestic Beer (0.5 liter bottle) 345.14 kr 289.00-400.00
Imported Beer (12 oz small bottle) 341.74 kr 280.00-420.00
Cigarettes 20 Pack (Marlboro) 1,300.00 kr 1,200.00-1,500.00
Transportation [ Edit ]
One-way Ticket (Local Transport) 460.00 kr 440.00-460.00
Monthly Pass (Regular Price) 12,300.00 kr 11,750.00-12,300.00
Taxi Start (Normal Tariff) 690.00 kr 690.00-800.00
Taxi 1 mile (Normal Tariff) 501.06 kr 389.46-709.72
Taxi 1hour Waiting (Normal Tariff) 7,440.00 kr 7,440.00-10,000.00
Gasoline (1 gallon) 826.70 kr 757.08-870.64
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) 3,400,000.00 kr 3,250,000.00-3,650,000.00
Toyota Corolla 1.6l 97kW Comfort (Or Equivalent New Car) 3,675,833.33 kr 3,180,000.00-4,120,000.00
Utilities (Monthly) [ Edit ]
Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment 12,396.25 kr 7,605.26-21,000.00
1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) 21.05 kr 15.00-25.00
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) 7,143.82 kr 4,590.00-10,000.00
Sports And Leisure [ Edit ]
Fitness Club, Monthly Fee for 1 Adult 7,259.45 kr 6,500.00-11,430.00
Tennis Court Rent (1 Hour on Weekend) 3,943.75 kr 2,500.00-5,900.00
Cinema, International Release, 1 Seat 1,500.00 kr 1,400.00-1,600.00
Childcare [ Edit ]
Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child 34,328.00 kr 25,234.00-42,000.00
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) 13,873.19 kr 8,000.00-19,900.00
1 Summer Dress in a Chain Store (Zara, H&M, ...) 7,420.89 kr 4,500.00-15,000.00
1 Pair of Nike Running Shoes (Mid-Range) 18,095.31 kr 12,900.00-25,000.00
1 Pair of Men Leather Business Shoes 23,795.00 kr 17,995.00-35,000.00
Rent Per Month [ Edit ]
Apartment (1 bedroom) in City Centre 184,907.41 kr 140,000.00-250,000.00
Apartment (1 bedroom) Outside of Centre 152,656.14 kr 100,000.00-200,000.00
Apartment (3 bedrooms) in City Centre 286,000.00 kr 220,000.00-350,000.00
Apartment (3 bedrooms) Outside of Centre 233,958.33 kr 185,000.00-285,000.00
Buy Apartment Price [ Edit ]
Price per Square Feet to Buy Apartment in City Centre 51,078.66 kr 42,140.65-60,386.47
Price per Square Feet to Buy Apartment Outside of Centre 39,059.84 kr 32,515.79-46,451.13
Salaries And Financing [ Edit ]
Average Monthly Net Salary (After Tax) 368,621.84 kr
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 6.35 5.00-7.50

Prices in Iceland

These data are based on 2892 entries in the past 18 months from 374 different contributors.
Last update: December 2018
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!