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Cost of Living in Iceland

Cost of living in Iceland is 37.66% higher than in United States (aggregate data for all cities, rent is not taken into account). Rent in Iceland is 13.63% higher than in United States (average data for all cities).
Restaurants [ Edit ] Range
Meal, Inexpensive Restaurant 2,500.00 kr 1,700.00-3,133.51
Meal for 2 People, Mid-range Restaurant, Three-course 12,500.00 kr 9,500.00-17,000.00
McMeal at McDonalds (or Equivalent Combo Meal) 1,578.00 kr 1,500.00-1,990.00
Domestic Beer (1 pint draught) 1,200.00 kr 1,000.00-1,250.00
Imported Beer (12 oz small bottle) 1,000.00 kr 900.00-1,200.00
Cappuccino (regular) 551.96 kr 450.00-650.00
Coke/Pepsi (12 oz small bottle) 306.10 kr 153.25-490.00
Water (12 oz small bottle) 252.14 kr 150.00-350.00
Markets [ Edit ]
Milk (regular), (1 gallon) 594.85 kr 548.88-677.59
Loaf of Fresh White Bread (1 lb) 307.89 kr 249.48-396.89
Rice (white), (1 lb) 165.92 kr 113.40-262.18
Eggs (regular) (12) 618.47 kr 500.00-720.00
Local Cheese (1 lb) 747.40 kr 563.82-952.55
Chicken Breasts (Boneless, Skinless), (1 lb) 882.91 kr 725.75-1,111.30
Beef Round (1 lb) (or Equivalent Back Leg Red Meat) 1,371.78 kr 907.19-2,222.61
Apples (1 lb) 134.64 kr 104.33-180.98
Banana (1 lb) 112.06 kr 90.72-136.08
Oranges (1 lb) 137.92 kr 113.40-181.44
Tomato (1 lb) 224.20 kr 158.76-298.92
Potato (1 lb) 123.72 kr 90.72-179.17
Onion (1 lb) 99.37 kr 36.29-154.22
Lettuce (1 head) 287.50 kr 188.01-369.00
Water (1.5 liter bottle) 217.61 kr 125.34-379.00
Bottle of Wine (Mid-Range) 2,500.00 kr 2,000.00-3,000.00
Domestic Beer (0.5 liter bottle) 337.58 kr 289.00-400.00
Imported Beer (12 oz small bottle) 340.85 kr 300.00-420.00
Cigarettes 20 Pack (Marlboro) 1,390.00 kr 1,200.00-1,559.00
Transportation [ Edit ]
One-way Ticket (Local Transport) 465.00 kr 440.00-470.00
Monthly Pass (Regular Price) 12,300.00 kr 11,000.00-12,800.00
Taxi Start (Normal Tariff) 690.00 kr 690.00-800.00
Taxi 1 mile (Normal Tariff) 482.80 kr 389.46-643.74
Taxi 1hour Waiting (Normal Tariff) 7,920.00 kr 7,440.00-8,340.00
Gasoline (1 gallon) 845.14 kr 776.01-897.14
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) 3,555,000.00 kr 3,250,000.00-4,190,000.00
Toyota Corolla 1.6l 97kW Comfort (Or Equivalent New Car) 4,038,064.52 kr 3,270,000.00-4,500,000.00
Utilities (Monthly) [ Edit ]
Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment 11,843.67 kr 6,538.46-20,000.00
1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) 21.07 kr 15.00-27.00
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) 8,354.62 kr 6,000.00-10,970.00
Sports And Leisure [ Edit ]
Fitness Club, Monthly Fee for 1 Adult 7,554.06 kr 6,000.00-11,430.00
Tennis Court Rent (1 Hour on Weekend) 4,694.44 kr 3,200.00-9,000.00
Cinema, International Release, 1 Seat 1,550.00 kr 1,450.00-1,680.00
Childcare [ Edit ]
Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child 34,924.31 kr 25,234.00-43,000.00
International Primary School, Yearly for 1 Child 840,000.00 kr 252,000.00-1,200,000.00
Clothing And Shoes [ Edit ]
1 Pair of Jeans (Levis 501 Or Similar) 14,094.17 kr 8,000.00-19,000.00
1 Summer Dress in a Chain Store (Zara, H&M, ...) 6,489.00 kr 4,000.00-12,000.00
1 Pair of Nike Running Shoes (Mid-Range) 18,018.44 kr 14,950.00-25,000.00
1 Pair of Men Leather Business Shoes 23,766.55 kr 16,900.00-32,000.00
Rent Per Month [ Edit ]
Apartment (1 bedroom) in City Centre 185,611.11 kr 140,000.00-250,000.00
Apartment (1 bedroom) Outside of Centre 152,857.14 kr 110,000.00-200,000.00
Apartment (3 bedrooms) in City Centre 282,980.00 kr 220,000.00-350,000.00
Apartment (3 bedrooms) Outside of Centre 240,395.83 kr 190,000.00-300,000.00
Buy Apartment Price [ Edit ]
Price per Square Feet to Buy Apartment in City Centre 54,802.04 kr 46,451.13-74,321.81
Price per Square Feet to Buy Apartment Outside of Centre 41,187.63 kr 32,515.79-55,741.36
Salaries And Financing [ Edit ]
Average Monthly Net Salary (After Tax) 383,139.40 kr
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 6.41 5.00-7.33

Prices in Iceland

These data are based on 2870 entries in the past 18 months from 325 different contributors.
Last update: October 2019
Our data for each country are based on all entries from all cities in that country.
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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

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: Reykjavik, Selfoss

We would like to gather more data for: Akranes, Bakkafjordur, Bildudalur, Blonduos, Bolungarvik, Bordeyri, Borgarnes, Dalvik, Drangsnes, Egilsstadir, Eidar, ... Update information for Iceland!