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Cost of Living in Iceland

Cost of living in Iceland is 72.86% higher than in United States (aggregate data for all cities, rent is not taken into account). Rent in Iceland is 45.36% higher than in United States (average data for all cities).
Restaurants [ Edit ] Range
Meal, Inexpensive Restaurant 2,200.00 kr 1,900.00-3,000.00
Meal for 2 People, Mid-range Restaurant, Three-course 12,000.00 kr 7,500.00-15,000.00
McMeal at McDonalds (or Equivalent Combo Meal) 1,500.00 kr 1,408.76-1,800.00
Domestic Beer (1 pint draught) 1,100.00 kr 1,000.00-1,200.00
Imported Beer (11.2 oz small bottle) 1,000.00 kr 700.00-1,200.00
Cappuccino (regular) 521.25 kr 450.00-600.00
Coke/Pepsi (11.2 oz small bottle) 286.46 kr 200.00-400.00
Water (11.2 oz small bottle) 224.94 kr 125.00-300.00
Markets [ Edit ]
Milk (regular), (1 gallon) 586.27 kr 492.10-700.30
Loaf of Fresh White Bread (1 lb) 322.52 kr 215.46-362.87
Rice (white), (1 lb) 158.10 kr 113.40-230.88
Eggs (regular) (12) 599.00 kr 480.00-700.00
Local Cheese (1 lb) 767.61 kr 657.71-907.19
Chicken Breasts (Boneless, Skinless), (1 lb) 954.89 kr 680.39-1,233.77
Beef Round (1 lb) (or Equivalent Back Leg Red Meat) 1,424.82 kr 906.81-1,814.37
Apples (1 lb) 140.53 kr 89.81-224.53
Banana (1 lb) 125.49 kr 103.87-172.37
Oranges (1 lb) 140.34 kr 108.86-176.90
Tomato (1 lb) 237.44 kr 158.30-317.52
Potato (1 lb) 124.65 kr 90.72-167.38
Onion (1 lb) 79.35 kr 45.36-140.61
Lettuce (1 head) 301.41 kr 151.13-400.00
Water (1.5 liter bottle) 237.90 kr 151.13-350.00
Bottle of Wine (Mid-Range) 2,400.00 kr 1,800.00-3,000.00
Domestic Beer (0.5 liter bottle) 387.50 kr 320.00-500.00
Imported Beer (11.2 oz small bottle) 359.13 kr 300.00-420.00
Pack of Cigarettes (Marlboro) 1,300.00 kr 1,100.00-1,450.00
Transportation [ Edit ]
One-way Ticket (Local Transport) 440.00 kr 420.00-450.00
Monthly Pass (Regular Price) 11,750.00 kr 11,300.00-11,900.00
Taxi Start (Normal Tariff) 690.00 kr 690.00-800.00
Taxi 1 mile (Normal Tariff) 482.80 kr 366.93-532.69
Taxi 1hour Waiting (Normal Tariff) 7,440.00 kr 7,440.00-8,287.00
Gasoline (1 gallon) 748.97 kr 719.23-779.79
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) 3,340,000.00 kr 3,090,000.00-3,450,000.00
Toyota Corolla 1.6l 97kW Comfort (Or Equivalent New Car) 3,487,619.05 kr 3,180,000.00-3,830,000.00
Utilities (Monthly) [ Edit ]
Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment 12,297.64 kr 6,181.82-20,000.00
1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) 20.09 kr 15.00-25.00
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) 6,335.93 kr 3,990.00-9,000.00
Sports And Leisure [ Edit ]
Fitness Club, Monthly Fee for 1 Adult 7,795.33 kr 6,500.00-11,430.00
Tennis Court Rent (1 Hour on Weekend) 3,254.55 kr 1,500.00-4,200.00
Cinema, International Release, 1 Seat 1,490.00 kr 1,200.00-1,540.00
Childcare [ Edit ]
Preschool (or Kindergarten), Private, Monthly for 1 Child 34,263.13 kr 25,234.00-40,797.00
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) 14,857.21 kr 10,000.00-20,000.00
1 Summer Dress in a Chain Store (Zara, H&M, ...) 9,061.67 kr 5,000.00-14,000.00
1 Pair of Nike Running Shoes (Mid-Range) 17,978.53 kr 12,000.00-24,000.00
1 Pair of Men Leather Business Shoes 24,307.31 kr 17,995.00-35,000.00
Rent Per Month [ Edit ]
Apartment (1 bedroom) in City Centre 175,250.00 kr 111,530.22-220,000.00
Apartment (1 bedroom) Outside of Centre 144,342.86 kr 100,000.00-180,000.00
Apartment (3 bedrooms) in City Centre 266,142.86 kr 210,000.00-300,000.00
Apartment (3 bedrooms) Outside of Centre 226,000.00 kr 180,000.00-260,000.00
Buy Apartment Price [ Edit ]
Price per Square Feet to Buy Apartment in City Centre 49,216.29 kr 41,806.02-65,031.59
Price per Square Feet to Buy Apartment Outside of Centre 37,339.28 kr 27,870.68-46,451.13
Salaries And Financing [ Edit ]
Average Monthly Net Salary (After Tax) 340,326.16 kr
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 6.27 4.15-7.80

Prices in Iceland

These data are based on 2391 entries in the past 18 months from 278 different contributors.
Last update: February 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!