Cost of Living in Iceland
Summary of cost of living in Iceland:
- The estimated monthly costs for a family of four are 5,498.1$ (719,319.4kr), excluding rent.
- The estimated monthly costs for a single person are 1,470.7$ (192,408.3kr), excluding rent.
- Cost of living in Iceland is, on average, 37.1% higher than in United States.
- Rent in Iceland is, on average, 13.2% higher than in United States.
Restaurants |  Edit |
Range |
|---|---|---|
| Meal, Inexpensive Restaurant | 3,100.00 kr | |
| Meal for 2 People, Mid-range Restaurant, Three-course | 18,000.00 kr | |
| McMeal at McDonalds (or Equivalent Combo Meal) | 2,500.00 kr | |
| Domestic Beer (1 pint draught) | 1,500.00 kr | |
| Imported Beer (12 oz small bottle) | 1,300.00 kr | |
| Cappuccino (regular) | 747.07 kr | |
| Coke/Pepsi (12 oz small bottle) | 403.70 kr | |
| Water (12 oz small bottle) | 328.43 kr | |
Markets | Edit |
|
| Milk (regular), (1 gallon) | 891.09 kr | |
| Loaf of Fresh White Bread (1 lb) | 447.52 kr | |
| Rice (white), (1 lb) | 196.15 kr | |
| Eggs (regular) (12) | 805.03 kr | |
| Local Cheese (1 lb) | 1,046.48 kr | |
| Chicken Fillets (1 lb) | 1,356.62 kr | |
| Beef Round (1 lb) (or Equivalent Back Leg Red Meat) | 2,438.52 kr | |
| Apples (1 lb) | 172.50 kr | |
| Banana (1 lb) | 139.19 kr | |
| Oranges (1 lb) | 161.79 kr | |
| Tomato (1 lb) | 269.80 kr | |
| Potato (1 lb) | 204.09 kr | |
| Onion (1 lb) | 128.38 kr | |
| Lettuce (1 head) | 392.23 kr | |
| Water (1.5 liter bottle) | 279.56 kr | |
| Bottle of Wine (Mid-Range) | 3,000.00 kr | |
| Domestic Beer (0.5 liter bottle) | 461.81 kr | |
| Imported Beer (12 oz small bottle) | 388.92 kr | |
| Cigarettes 20 Pack (Marlboro) | 1,750.00 kr | |
Transportation | Edit |
|
| One-way Ticket (Local Transport) | 630.00 kr | |
| Monthly Pass (Regular Price) | 10,450.00 kr | |
| Taxi Start (Normal Tariff) | 790.00 kr | |
| Taxi 1 mile (Normal Tariff) | 521.43 kr | |
| Taxi 1hour Waiting (Normal Tariff) | 10,710.00 kr | |
| Gasoline (1 gallon) | 1,179.65 kr | |
| Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) | 5,890,000.00 kr | |
| Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) | 6,666,666.67 kr | |
Utilities (Monthly) | Edit |
|
| Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment | 11,183.22 kr | |
| Mobile Phone Monthly Plan with Calls and 10GB+ Data | 3,430.36 kr | |
| Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) | 10,783.47 kr | |
Sports And Leisure | Edit |
|
| Fitness Club, Monthly Fee for 1 Adult | 9,953.18 kr | |
| Tennis Court Rent (1 Hour on Weekend) | 4,666.67 kr | |
| Cinema, International Release, 1 Seat | 2,190.00 kr | |
Childcare | Edit |
|
| Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child | 43,630.30 kr | |
| International Primary School, Yearly for 1 Child | 3,744,295.00 kr | |
Clothing And Shoes | Edit |
|
| 1 Pair of Jeans (Levis 501 Or Similar) | 17,222.35 kr | |
| 1 Summer Dress in a Chain Store (Zara, H&M, ...) | 7,915.00 kr | |
| 1 Pair of Nike Running Shoes (Mid-Range) | 21,716.67 kr | |
| 1 Pair of Men Leather Business Shoes | 31,581.25 kr | |
Rent Per Month | Edit |
|
| Apartment (1 bedroom) in City Centre | 275,000.00 kr | |
| Apartment (1 bedroom) Outside of Centre | 248,333.33 kr | |
| Apartment (3 bedrooms) in City Centre | 393,961.54 kr | |
| Apartment (3 bedrooms) Outside of Centre | 338,074.07 kr | |
Buy Apartment Price | Edit |
|
| Price per Square Feet to Buy Apartment in City Centre | 86,370.14 kr | |
| Price per Square Feet to Buy Apartment Outside of Centre | 73,312.85 kr | |
Salaries And Financing | Edit |
|
| Average Monthly Net Salary (After Tax) | 564,921.52 kr | |
| Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate | 9.90 |
Prices in Iceland
This country had 1026 entries in the past 12 months by 148 different contributors.
Last update: May 2025
Our data for each country are based on all entries from all cities in that country.
Last update: May 2025
Our data for each country are based on all entries from all cities in that country.
Sources and References
Moving to Iceland? Explore:
Distribution of Expenses Using Our Statistical Model:
This Page in Other Languages:
 DeutschLebenshaltungskosten in Island
|
 PortuguêsCusto de Vida na Islândia
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 ItalianoCosto della Vita in Islanda
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 FrançaisCoût de la Vie en Islande
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 EspañolCosto de Vida en Islandia
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