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Cost of Living in Iceland

Cost of living in Iceland is 23.85% higher than in United States (aggregate data for all cities, rent is not taken into account). Rent in Iceland is 1.02% lower than in United States (average data for all cities).
Restaurants [ Edit ] Range
Meal, Inexpensive Restaurant 2,500.00 kr 1,500.00-4,500.00
Meal for 2 People, Mid-range Restaurant, Three-course 14,000.00 kr 9,500.00-20,000.00
McMeal at McDonalds (or Equivalent Combo Meal) 1,661.52 kr 1,490.00-2,500.00
Domestic Beer (1 pint draught) 1,200.00 kr 900.00-1,500.00
Imported Beer (12 oz small bottle) 1,000.00 kr 830.76-1,500.00
Cappuccino (regular) 574.94 kr 400.00-650.00
Coke/Pepsi (12 oz small bottle) 345.94 kr 200.00-600.00
Water (12 oz small bottle) 270.94 kr 200.00-400.00
Markets [ Edit ]
Milk (regular), (1 gallon) 632.15 kr 553.84-946.35
Loaf of Fresh White Bread (1 lb) 338.35 kr 249.48-453.59
Rice (white), (1 lb) 162.69 kr 90.72-262.18
Eggs (regular) (12) 662.10 kr 500.00-800.00
Local Cheese (1 lb) 782.53 kr 544.31-1,179.34
Chicken Fillets (1 lb) 932.80 kr 725.75-1,133.98
Beef Round (1 lb) (or Equivalent Back Leg Red Meat) 1,415.86 kr 860.92-2,222.61
Apples (1 lb) 145.93 kr 99.79-207.69
Banana (1 lb) 113.73 kr 90.72-172.37
Oranges (1 lb) 142.33 kr 113.40-226.80
Tomato (1 lb) 232.08 kr 138.46-344.73
Potato (1 lb) 138.11 kr 68.04-180.98
Onion (1 lb) 100.92 kr 36.29-167.38
Lettuce (1 head) 298.82 kr 138.46-398.00
Water (1.5 liter bottle) 223.92 kr 130.00-300.00
Bottle of Wine (Mid-Range) 2,500.00 kr 1,800.00-4,000.00
Domestic Beer (0.5 liter bottle) 346.39 kr 289.00-400.00
Imported Beer (12 oz small bottle) 342.67 kr 280.00-450.00
Cigarettes 20 Pack (Marlboro) 1,400.00 kr 1,320.00-1,800.00
Transportation [ Edit ]
One-way Ticket (Local Transport) 470.00 kr 450.00-480.00
Monthly Pass (Regular Price) 12,800.00 kr 11,000.00-13,100.00
Taxi Start (Normal Tariff) 700.00 kr 690.00-1,200.00
Taxi 1 mile (Normal Tariff) 490.85 kr 389.46-709.72
Taxi 1hour Waiting (Normal Tariff) 7,920.00 kr 7,920.00-10,560.00
Gasoline (1 gallon) 855.14 kr 757.08-927.43
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) 3,590,000.00 kr 3,390,000.00-4,200,000.00
Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) 4,181,052.63 kr 3,840,000.00-4,500,000.00
Utilities (Monthly) [ Edit ]
Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment 12,725.90 kr 7,083.33-20,000.00
1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) 22.56 kr 14.00-27.00
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) 8,484.71 kr 6,000.00-12,000.00
Sports And Leisure [ Edit ]
Fitness Club, Monthly Fee for 1 Adult 7,685.47 kr 6,000.00-12,000.00
Tennis Court Rent (1 Hour on Weekend) 4,739.13 kr 3,000.00-6,500.00
Cinema, International Release, 1 Seat 1,600.00 kr 1,450.00-2,000.00
Childcare [ Edit ]
Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child 35,027.63 kr 26,000.00-48,000.00
International Primary School, Yearly for 1 Child 792,000.00 kr 336,000.00-1,200,000.00
Clothing And Shoes [ Edit ]
1 Pair of Jeans (Levis 501 Or Similar) 15,140.93 kr 8,000.00-20,000.00
1 Summer Dress in a Chain Store (Zara, H&M, ...) 6,941.97 kr 3,000.00-12,000.00
1 Pair of Nike Running Shoes (Mid-Range) 18,050.78 kr 12,000.00-25,000.00
1 Pair of Men Leather Business Shoes 22,645.77 kr 15,000.00-34,000.00
Rent Per Month [ Edit ]
Apartment (1 bedroom) in City Centre 184,066.67 kr 140,000.00-250,000.00
Apartment (1 bedroom) Outside of Centre 150,617.14 kr 120,000.00-201,500.00
Apartment (3 bedrooms) in City Centre 293,422.22 kr 220,000.00-400,000.00
Apartment (3 bedrooms) Outside of Centre 248,238.10 kr 200,000.00-320,000.00
Buy Apartment Price [ Edit ]
Price per Square Feet to Buy Apartment in City Centre 55,537.62 kr 46,451.13-74,321.81
Price per Square Feet to Buy Apartment Outside of Centre 41,995.84 kr 36,919.18-55,741.36
Salaries And Financing [ Edit ]
Average Monthly Net Salary (After Tax) 392,981.49 kr
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 6.28 4.00-7.50

Prices in Iceland

These data are based on 2633 entries in the past 18 months from 331 different contributors.
Last update: March 2020
Our data for each country are based on all entries from all cities in that country.
Sources and References
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DeutschLebenshaltungskosten in Island
PortuguêsCusto de Vida na Islândia
ItalianoCosto della Vita in Islanda
FrançaisCoût de la Vie en Islande
EspañolCosto de Vida en Islandia