Cost of Living in Iceland

Summary:

Restaurants
Edit Range
Meal, Inexpensive Restaurant 2,500.00 kr 1,700.00-4,500.00
Meal for 2 People, Mid-range Restaurant, Three-course 14,500.00 kr 10,000.00-20,000.00
McMeal at McDonalds (or Equivalent Combo Meal) 2,000.00 kr 1,700.00-2,300.00
Domestic Beer (1 pint draught) 1,200.00 kr 1,000.00-1,500.00
Imported Beer (12 oz small bottle) 1,000.00 kr 705.05-1,450.00
Cappuccino (regular) 593.90 kr 390.00-900.00
Coke/Pepsi (12 oz small bottle) 343.55 kr 250.00-500.00
Water (12 oz small bottle) 270.21 kr 200.00-400.00
Markets
Edit
Milk (regular), (1 gallon) 755.95 kr 632.16-908.50
Loaf of Fresh White Bread (1 lb) 385.78 kr 249.48-725.75
Rice (white), (1 lb) 183.65 kr 106.59-340.19
Eggs (regular) (12) 735.12 kr 562.80-1,140.00
Local Cheese (1 lb) 824.11 kr 478.09-1,179.34
Chicken Fillets (1 lb) 1,036.11 kr 816.47-1,269.15
Beef Round (1 lb) (or Equivalent Back Leg Red Meat) 1,578.24 kr 907.19-2,357.78
Apples (1 lb) 194.13 kr 113.40-362.87
Banana (1 lb) 137.43 kr 107.05-226.80
Oranges (1 lb) 157.36 kr 122.02-272.16
Tomato (1 lb) 270.89 kr 141.01-406.42
Potato (1 lb) 162.16 kr 90.72-226.80
Onion (1 lb) 84.87 kr 45.36-226.80
Lettuce (1 head) 358.71 kr 200.00-700.00
Water (1.5 liter bottle) 235.56 kr 109.00-500.00
Bottle of Wine (Mid-Range) 2,500.00 kr 2,000.00-4,000.00
Domestic Beer (0.5 liter bottle) 417.43 kr 330.00-575.00
Imported Beer (12 oz small bottle) 359.32 kr 300.00-500.00
Cigarettes 20 Pack (Marlboro) 1,535.00 kr 1,400.00-1,990.00
Transportation
Edit
One-way Ticket (Local Transport) 490.00 kr 455.00-590.00
Monthly Pass (Regular Price) 8,050.00 kr 6,666.67-13,300.00
Taxi Start (Normal Tariff) 730.00 kr 690.00-1,100.00
Taxi 1 mile (Normal Tariff) 507.75 kr 402.34-804.67
Taxi 1hour Waiting (Normal Tariff) 8,000.00 kr 7,920.00-9,360.00
Gasoline (1 gallon) 1,136.47 kr 870.64-1,297.09
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) 4,250,000.00 kr 3,700,000.00-5,100,000.00
Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) 4,923,105.26 kr 4,150,000.00-5,680,000.00
Utilities (Monthly)
Edit
Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment 14,899.84 kr 7,200.00-24,285.71
1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) 16.72 kr 5.50-27.00
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) 9,075.30 kr 6,500.00-12,040.00
Sports And Leisure
Edit
Fitness Club, Monthly Fee for 1 Adult 8,712.18 kr 6,500.00-14,500.00
Tennis Court Rent (1 Hour on Weekend) 4,352.92 kr 3,000.00-6,000.00
Cinema, International Release, 1 Seat 1,735.00 kr 1,400.00-2,045.00
Childcare
Edit
Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child 36,548.10 kr 29,000.00-60,000.00
International Primary School, Yearly for 1 Child 598,714.29 kr 300,000.00-1,000,000.00
Clothing And Shoes
Edit
1 Pair of Jeans (Levis 501 Or Similar) 15,378.97 kr 8,100.00-20,000.00
1 Summer Dress in a Chain Store (Zara, H&M, ...) 6,857.92 kr 3,700.00-16,000.00
1 Pair of Nike Running Shoes (Mid-Range) 19,774.06 kr 10,200.00-25,000.00
1 Pair of Men Leather Business Shoes 23,975.40 kr 15,000.00-33,000.00
Rent Per Month
Edit
Apartment (1 bedroom) in City Centre 206,302.33 kr 160,000.00-255,000.00
Apartment (1 bedroom) Outside of Centre 168,756.10 kr 120,000.00-230,000.00
Apartment (3 bedrooms) in City Centre 284,609.76 kr 250,000.00-395,000.00
Apartment (3 bedrooms) Outside of Centre 249,771.92 kr 207,105.00-300,000.00
Buy Apartment Price
Edit
Price per Square Feet to Buy Apartment in City Centre 69,245.79 kr 39,116.69-92,902.27
Price per Square Feet to Buy Apartment Outside of Centre 50,741.11 kr 37,160.91-74,321.81
Salaries And Financing
Edit
Average Monthly Net Salary (After Tax) 543,075.08 kr
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 5.41 3.50-8.00

Prices in Iceland

This country had 1366 entries in the past 12 months by 184 different contributors.
Last update: January 2023
Our data for each country are based on all entries from all cities in that country.
Sources and References
Distribution of Expenses Using Our Statistical Model:
  
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