Cost of Living in Iceland

Summary of cost of living in Iceland:

Restaurants
Edit Range
Meal, Inexpensive Restaurant 2,539.21 kr 1,890.00-5,000.00
Meal for 2 People, Mid-range Restaurant, Three-course 15,000.00 kr 10,000.00-20,000.00
McMeal at McDonalds (or Equivalent Combo Meal) 2,000.00 kr 1,750.00-2,500.00
Domestic Beer (1 pint draught) 1,245.00 kr 1,000.00-1,600.00
Imported Beer (12 oz small bottle) 1,050.00 kr 850.00-1,600.00
Cappuccino (regular) 624.71 kr 417.66-900.00
Coke/Pepsi (12 oz small bottle) 366.59 kr 270.00-530.00
Water (12 oz small bottle) 287.32 kr 200.00-460.00
Markets
Edit
Milk (regular), (1 gallon) 788.07 kr 639.73-1,044.77
Loaf of Fresh White Bread (1 lb) 405.63 kr 255.15-725.75
Rice (white), (1 lb) 192.99 kr 106.59-340.19
Eggs (regular) (12) 775.28 kr 598.00-1,140.00
Local Cheese (1 lb) 829.94 kr 478.09-1,331.75
Chicken Fillets (1 lb) 1,071.07 kr 816.01-1,360.78
Beef Round (1 lb) (or Equivalent Back Leg Red Meat) 1,708.43 kr 907.19-2,494.76
Apples (1 lb) 197.70 kr 113.40-339.74
Banana (1 lb) 140.25 kr 107.05-226.80
Oranges (1 lb) 164.12 kr 113.40-405.06
Tomato (1 lb) 293.54 kr 135.54-453.14
Potato (1 lb) 169.87 kr 90.72-235.41
Onion (1 lb) 90.00 kr 45.36-226.80
Lettuce (1 head) 396.32 kr 200.00-700.00
Water (1.5 liter bottle) 270.84 kr 120.00-500.00
Bottle of Wine (Mid-Range) 2,699.00 kr 1,990.00-4,500.00
Domestic Beer (0.5 liter bottle) 422.16 kr 320.00-600.00
Imported Beer (12 oz small bottle) 366.19 kr 300.00-479.00
Cigarettes 20 Pack (Marlboro) 1,600.00 kr 1,450.00-1,990.00
Transportation
Edit
One-way Ticket (Local Transport) 500.00 kr 467.00-590.00
Monthly Pass (Regular Price) 9,000.00 kr 7,500.00-13,300.00
Taxi Start (Normal Tariff) 730.00 kr 670.00-1,000.00
Taxi 1 mile (Normal Tariff) 532.69 kr 402.34-804.67
Taxi 1hour Waiting (Normal Tariff) 8,000.00 kr 8,000.00-9,360.00
Gasoline (1 gallon) 1,169.99 kr 893.36-1,321.11
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) 4,500,000.00 kr 3,990,000.00-5,790,000.00
Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) 5,237,315.79 kr 4,200,000.00-6,000,000.00
Utilities (Monthly)
Edit
Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment 14,353.87 kr 7,200.00-24,000.00
1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) 11.21 kr 5.00-25.90
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) 9,010.58 kr 6,500.00-12,000.00
Sports And Leisure
Edit
Fitness Club, Monthly Fee for 1 Adult 8,704.03 kr 6,666.67-14,500.00
Tennis Court Rent (1 Hour on Weekend) 4,819.58 kr 2,600.00-6,400.00
Cinema, International Release, 1 Seat 1,825.00 kr 1,500.00-2,500.00
Childcare
Edit
Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child 37,436.52 kr 29,000.00-60,000.00
International Primary School, Yearly for 1 Child 567,833.33 kr 252,000.00-1,000,000.00
Clothing And Shoes
Edit
1 Pair of Jeans (Levis 501 Or Similar) 16,043.81 kr 8,200.00-20,000.00
1 Summer Dress in a Chain Store (Zara, H&M, ...) 7,131.00 kr 3,800.00-16,000.00
1 Pair of Nike Running Shoes (Mid-Range) 20,508.18 kr 10,200.00-25,000.00
1 Pair of Men Leather Business Shoes 24,175.40 kr 15,250.00-35,000.00
Rent Per Month
Edit
Apartment (1 bedroom) in City Centre 215,022.33 kr 175,000.00-255,000.00
Apartment (1 bedroom) Outside of Centre 181,002.39 kr 120,000.00-238,000.00
Apartment (3 bedrooms) in City Centre 299,738.10 kr 250,000.00-450,000.00
Apartment (3 bedrooms) Outside of Centre 258,361.67 kr 207,105.00-360,000.00
Buy Apartment Price
Edit
Price per Square Feet to Buy Apartment in City Centre 70,691.09 kr 54,812.34-92,902.27
Price per Square Feet to Buy Apartment Outside of Centre 52,881.33 kr 37,160.91-74,321.81
Salaries And Financing
Edit
Average Monthly Net Salary (After Tax) 571,035.13 kr
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 5.92 3.50-8.15

Prices in Iceland

This country had 1783 entries in the past 12 months by 232 different contributors.
Last update: May 2023
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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