Cost of Living in Iceland

Summary of cost of living in Iceland:

Restaurants
Edit Range
Meal, Inexpensive Restaurant 3,000.00 kr 1,990.00-5,000.00
Meal for 2 People, Mid-range Restaurant, Three-course 16,407.60 kr 10,000.00-28,000.00
McMeal at McDonalds (or Equivalent Combo Meal) 2,299.50 kr 2,000.00-2,500.00
Domestic Beer (1 pint draught) 1,400.00 kr 900.00-1,800.00
Imported Beer (12 oz small bottle) 1,200.00 kr 850.00-1,800.00
Cappuccino (regular) 703.02 kr 410.19-1,000.00
Coke/Pepsi (12 oz small bottle) 397.11 kr 275.00-550.00
Water (12 oz small bottle) 299.40 kr 200.00-450.00
Markets
Edit
Milk (regular), (1 gallon) 862.03 kr 643.52-1,135.62
Loaf of Fresh White Bread (1 lb) 431.01 kr 268.53-725.75
Rice (white), (1 lb) 182.76 kr 127.01-289.85
Eggs (regular) (12) 793.85 kr 598.00-960.00
Local Cheese (1 lb) 935.33 kr 544.31-1,331.75
Chicken Fillets (1 lb) 1,208.48 kr 683.65-1,677.84
Beef Round (1 lb) (or Equivalent Back Leg Red Meat) 2,050.63 kr 1,043.26-3,175.15
Apples (1 lb) 176.76 kr 113.40-339.74
Banana (1 lb) 138.84 kr 113.40-226.80
Oranges (1 lb) 166.97 kr 122.47-340.19
Tomato (1 lb) 294.90 kr 136.73-430.46
Potato (1 lb) 191.63 kr 102.06-249.48
Onion (1 lb) 113.36 kr 53.98-235.87
Lettuce (1 head) 411.38 kr 200.00-644.00
Water (1.5 liter bottle) 279.75 kr 120.00-500.00
Bottle of Wine (Mid-Range) 2,918.50 kr 2,000.00-4,500.00
Domestic Beer (0.5 liter bottle) 441.26 kr 330.00-600.00
Imported Beer (12 oz small bottle) 361.70 kr 250.00-500.00
Cigarettes 20 Pack (Marlboro) 1,650.00 kr 1,500.00-1,990.00
Transportation
Edit
One-way Ticket (Local Transport) 570.00 kr 500.00-630.00
Monthly Pass (Regular Price) 9,300.00 kr 8,500.00-10,800.00
Taxi Start (Normal Tariff) 730.00 kr 700.00-890.00
Taxi 1 mile (Normal Tariff) 521.43 kr 460.27-772.49
Taxi 1hour Waiting (Normal Tariff) 9,900.00 kr 8,000.00-12,000.00
Gasoline (1 gallon) 1,178.34 kr 994.97-1,268.11
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) 5,790,000.00 kr 5,100,000.00-6,000,000.00
Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) 5,930,750.00 kr 5,400,000.00-6,750,000.00
Utilities (Monthly)
Edit
Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment 13,789.58 kr 7,200.00-25,000.00
Mobile Phone Monthly Plan with Calls and 10GB+ Data 3,332.38 kr 2,500.00-5,000.00
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) 9,731.08 kr 6,500.00-15,000.00
Sports And Leisure
Edit
Fitness Club, Monthly Fee for 1 Adult 8,926.30 kr 6,666.67-14,500.00
Tennis Court Rent (1 Hour on Weekend) 4,469.58 kr 2,500.00-6,400.00
Cinema, International Release, 1 Seat 2,000.00 kr 1,690.00-2,400.00
Childcare
Edit
Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child 36,494.67 kr 30,960.00-50,000.00
International Primary School, Yearly for 1 Child 776,250.00 kr 610,000.00-1,250,000.00
Clothing And Shoes
Edit
1 Pair of Jeans (Levis 501 Or Similar) 15,687.33 kr 8,100.00-20,000.00
1 Summer Dress in a Chain Store (Zara, H&M, ...) 7,014.74 kr 3,800.00-16,000.00
1 Pair of Nike Running Shoes (Mid-Range) 20,593.33 kr 10,200.00-27,000.00
1 Pair of Men Leather Business Shoes 24,403.18 kr 15,250.00-35,000.00
Rent Per Month
Edit
Apartment (1 bedroom) in City Centre 248,736.97 kr 180,000.00-300,000.00
Apartment (1 bedroom) Outside of Centre 221,231.05 kr 150,000.00-280,000.00
Apartment (3 bedrooms) in City Centre 350,621.62 kr 265,000.00-450,000.00
Apartment (3 bedrooms) Outside of Centre 316,617.65 kr 225,000.00-400,000.00
Buy Apartment Price
Edit
Price per Square Feet to Buy Apartment in City Centre 74,268.21 kr 58,063.92-92,902.27
Price per Square Feet to Buy Apartment Outside of Centre 59,850.54 kr 46,451.13-78,966.93
Salaries And Financing
Edit
Average Monthly Net Salary (After Tax) 577,436.29 kr
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 7.44 3.70-10.50

Prices in Iceland

This country had 1677 entries in the past 12 months by 226 different contributors.
Last update: July 2024
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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