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Cost of Living in Iceland

Cost of living in Iceland is 45.01% higher than in United States (aggregate data for all cities, rent is not taken into account). Rent in Iceland is 23.20% 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 12,000.00 kr 7,600.00-15,000.00
McMeal at McDonalds (or Equivalent Combo Meal) 1,528.00 kr 1,250.00-1,800.00
Domestic Beer (1 pint draught) 1,175.00 kr 1,000.00-1,200.00
Imported Beer (12 oz small bottle) 1,000.00 kr 800.00-1,200.00
Cappuccino (regular) 550.46 kr 450.00-650.00
Coke/Pepsi (12 oz small bottle) 308.64 kr 200.00-450.00
Water (12 oz small bottle) 250.36 kr 150.00-350.00
Markets [ Edit ]
Milk (regular), (1 gallon) 586.18 kr 529.96-681.37
Loaf of Fresh White Bread (1 lb) 323.13 kr 239.38-408.23
Rice (white), (1 lb) 157.77 kr 113.40-239.38
Eggs (regular) (12) 606.43 kr 500.00-700.00
Local Cheese (1 lb) 790.72 kr 598.45-952.55
Chicken Breasts (Boneless, Skinless), (1 lb) 936.12 kr 816.47-1,179.34
Beef Round (1 lb) (or Equivalent Back Leg Red Meat) 1,370.11 kr 861.83-1,769.01
Apples (1 lb) 130.17 kr 89.81-217.72
Banana (1 lb) 115.17 kr 90.72-172.37
Oranges (1 lb) 137.94 kr 108.86-181.44
Tomato (1 lb) 232.90 kr 133.81-340.19
Potato (1 lb) 112.96 kr 68.04-176.90
Onion (1 lb) 89.42 kr 36.29-154.22
Lettuce (1 head) 285.14 kr 130.00-400.00
Water (1.5 liter bottle) 222.04 kr 120.00-310.00
Bottle of Wine (Mid-Range) 2,500.00 kr 2,000.00-3,000.00
Domestic Beer (0.5 liter bottle) 348.51 kr 289.00-400.00
Imported Beer (12 oz small bottle) 337.30 kr 280.00-418.92
Cigarettes 20 Pack (Marlboro) 1,320.00 kr 1,200.00-1,450.00
Transportation [ Edit ]
One-way Ticket (Local Transport) 460.00 kr 450.00-470.00
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) 482.80 kr 389.46-709.72
Taxi 1hour Waiting (Normal Tariff) 7,920.00 kr 7,440.00-10,000.00
Gasoline (1 gallon) 839.37 kr 794.94-870.64
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) 3,400,000.00 kr 3,250,000.00-4,000,000.00
Toyota Corolla 1.6l 97kW Comfort (Or Equivalent New Car) 3,892,307.69 kr 3,200,000.00-4,300,000.00
Utilities (Monthly) [ Edit ]
Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment 12,176.53 kr 7,605.26-19,318.18
1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) 21.23 kr 16.00-25.00
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) 7,393.80 kr 4,990.00-10,000.00
Sports And Leisure [ Edit ]
Fitness Club, Monthly Fee for 1 Adult 7,287.22 kr 6,500.00-11,430.00
Tennis Court Rent (1 Hour on Weekend) 4,278.57 kr 3,000.00-9,000.00
Cinema, International Release, 1 Seat 1,500.00 kr 1,400.00-1,650.00
Childcare [ Edit ]
Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child 35,253.97 kr 28,000.00-44,230.00
International Primary School, Yearly for 1 Child 2,000,000.00 kr 1,200,000.00-2,400,000.00
Clothing And Shoes [ Edit ]
1 Pair of Jeans (Levis 501 Or Similar) 13,885.38 kr 8,000.00-20,000.00
1 Summer Dress in a Chain Store (Zara, H&M, ...) 6,831.14 kr 4,500.00-15,000.00
1 Pair of Nike Running Shoes (Mid-Range) 18,354.61 kr 12,900.00-25,000.00
1 Pair of Men Leather Business Shoes 24,679.89 kr 18,000.00-35,000.00
Rent Per Month [ Edit ]
Apartment (1 bedroom) in City Centre 190,431.03 kr 140,000.00-250,000.00
Apartment (1 bedroom) Outside of Centre 159,000.00 kr 110,000.00-200,000.00
Apartment (3 bedrooms) in City Centre 286,132.08 kr 220,000.00-350,000.00
Apartment (3 bedrooms) Outside of Centre 236,730.77 kr 190,000.00-288,000.00
Buy Apartment Price [ Edit ]
Price per Square Feet to Buy Apartment in City Centre 52,219.83 kr 42,735.04-65,031.59
Price per Square Feet to Buy Apartment Outside of Centre 39,746.97 kr 32,515.79-49,999.58
Salaries And Financing [ Edit ]
Average Monthly Net Salary (After Tax) 374,144.51 kr
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 6.24 5.00-7.33

Prices in Iceland

These data are based on 3073 entries in the past 18 months from 384 different contributors.
Last update: February 2019
Our data for each country are based on all entries from all cities in that country.
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DeutschLebenshaltungskosten in Island
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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!