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Cost of Living in Iceland

Cost of living in Iceland is 41.54% higher than in United States (aggregate data for all cities, rent is not taken into account). Rent in Iceland is 22.41% higher than in United States (average data for all cities).
Restaurants [ Edit ] Range
Meal, Inexpensive Restaurant 2,400.00 kr 1,650.00-3,000.00
Meal for 2 People, Mid-range Restaurant, Three-course 12,000.00 kr 8,000.00-15,000.00
McMeal at McDonalds (or Equivalent Combo Meal) 1,500.00 kr 1,250.00-1,890.00
Domestic Beer (1 pint draught) 1,150.00 kr 1,000.00-1,200.00
Imported Beer (12 oz small bottle) 1,000.00 kr 800.00-1,200.00
Cappuccino (regular) 544.82 kr 450.00-650.00
Coke/Pepsi (12 oz small bottle) 298.81 kr 200.00-450.00
Water (12 oz small bottle) 246.16 kr 150.00-350.00
Markets [ Edit ]
Milk (regular), (1 gallon) 579.93 kr 529.96-643.52
Loaf of Fresh White Bread (1 lb) 320.37 kr 241.12-408.23
Rice (white), (1 lb) 150.72 kr 113.40-241.12
Eggs (regular) (12) 607.56 kr 500.00-720.00
Local Cheese (1 lb) 776.35 kr 589.67-907.19
Chicken Breasts (Boneless, Skinless), (1 lb) 884.93 kr 725.75-997.90
Beef Round (1 lb) (or Equivalent Back Leg Red Meat) 1,278.45 kr 861.83-1,769.01
Apples (1 lb) 128.04 kr 89.81-226.80
Banana (1 lb) 112.19 kr 90.72-172.37
Oranges (1 lb) 134.27 kr 113.40-181.44
Tomato (1 lb) 214.05 kr 133.81-272.16
Potato (1 lb) 114.45 kr 90.72-176.90
Onion (1 lb) 83.49 kr 36.29-136.08
Lettuce (1 head) 273.52 kr 130.00-400.00
Water (1.5 liter bottle) 215.82 kr 120.56-300.00
Bottle of Wine (Mid-Range) 2,500.00 kr 1,900.00-3,000.00
Domestic Beer (0.5 liter bottle) 347.73 kr 289.00-439.00
Imported Beer (12 oz small bottle) 339.90 kr 300.00-420.00
Cigarettes 20 Pack (Marlboro) 1,350.00 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) 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) 840.01 kr 776.01-874.43
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) 3,400,000.00 kr 3,100,000.00-4,000,000.00
Toyota Corolla 1.6l 97kW Comfort (Or Equivalent New Car) 3,880,344.83 kr 3,180,000.00-4,490,000.00
Utilities (Monthly) [ Edit ]
Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment 11,853.95 kr 7,285.71-19,318.18
1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) 20.11 kr 15.00-25.00
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) 7,693.16 kr 5,000.00-10,200.00
Sports And Leisure [ Edit ]
Fitness Club, Monthly Fee for 1 Adult 7,221.72 kr 6,000.00-11,430.00
Tennis Court Rent (1 Hour on Weekend) 4,181.25 kr 3,000.00-6,500.00
Cinema, International Release, 1 Seat 1,500.00 kr 1,400.00-1,690.00
Childcare [ Edit ]
Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child 35,198.70 kr 25,963.00-43,000.00
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) 13,808.46 kr 8,000.00-20,000.00
1 Summer Dress in a Chain Store (Zara, H&M, ...) 6,596.81 kr 4,000.00-13,000.00
1 Pair of Nike Running Shoes (Mid-Range) 18,383.70 kr 13,000.00-25,000.00
1 Pair of Men Leather Business Shoes 23,613.22 kr 16,000.00-35,000.00
Rent Per Month [ Edit ]
Apartment (1 bedroom) in City Centre 189,017.86 kr 150,000.00-250,000.00
Apartment (1 bedroom) Outside of Centre 158,191.49 kr 120,000.00-200,000.00
Apartment (3 bedrooms) in City Centre 287,450.98 kr 220,000.00-370,000.00
Apartment (3 bedrooms) Outside of Centre 239,803.92 kr 200,000.00-300,000.00
Buy Apartment Price [ Edit ]
Price per Square Feet to Buy Apartment in City Centre 52,766.00 kr 46,451.13-65,031.59
Price per Square Feet to Buy Apartment Outside of Centre 40,233.62 kr 32,515.79-49,999.58
Salaries And Financing [ Edit ]
Average Monthly Net Salary (After Tax) 386,605.30 kr
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 6.30 5.00-7.50

Prices in Iceland

These data are based on 2997 entries in the past 18 months from 358 different contributors.
Last update: April 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!