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Cost of Living in Iceland

Cost of living in Iceland is 71.14% higher than in United States (aggregate data for all cities, rent is not taken into account). Rent in Iceland is 43.96% higher than in United States (average data for all cities).
Restaurants [ Edit ] Range
Meal, Inexpensive Restaurant 2,200.00 kr 1,800.00-3,000.00
Meal for 2 People, Mid-range Restaurant, Three-course 11,000.00 kr 7,000.00-15,000.00
McMeal at McDonalds (or Equivalent Combo Meal) 1,500.00 kr 1,399.00-1,890.00
Domestic Beer (1 pint draught) 1,100.00 kr 990.00-1,200.00
Imported Beer (11.2 oz small bottle) 1,000.00 kr 800.00-1,100.00
Cappuccino (regular) 523.08 kr 420.00-600.00
Coke/Pepsi (11.2 oz small bottle) 286.73 kr 200.00-400.00
Water (11.2 oz small bottle) 241.18 kr 140.45-350.00
Markets [ Edit ]
Milk (regular), (1 gallon) 579.89 kr 499.67-681.37
Loaf of Fresh White Bread (1 lb) 324.38 kr 215.46-408.23
Rice (white), (1 lb) 153.63 kr 100.29-226.80
Eggs (regular) (12) 609.00 kr 500.00-700.00
Local Cheese (1 lb) 766.30 kr 657.71-907.19
Chicken Breasts (Boneless, Skinless), (1 lb) 943.27 kr 680.39-1,179.34
Beef Round (1 lb) (or Equivalent Back Leg Red Meat) 1,380.89 kr 902.61-1,769.01
Apples (1 lb) 137.27 kr 89.81-224.53
Banana (1 lb) 122.27 kr 99.79-172.37
Oranges (1 lb) 141.89 kr 108.86-181.44
Tomato (1 lb) 230.63 kr 158.30-317.52
Potato (1 lb) 120.55 kr 90.72-167.38
Onion (1 lb) 80.61 kr 36.29-140.61
Lettuce (1 head) 301.33 kr 150.44-400.00
Water (1.5 liter bottle) 239.40 kr 169.00-350.00
Bottle of Wine (Mid-Range) 2,500.00 kr 1,800.00-3,000.00
Domestic Beer (0.5 liter bottle) 341.62 kr 289.00-450.00
Imported Beer (11.2 oz small bottle) 337.24 kr 300.00-400.00
Cigarettes 20 Pack (Marlboro) 1,300.00 kr 1,200.00-1,400.00
Transportation [ Edit ]
One-way Ticket (Local Transport) 440.00 kr 420.00-460.00
Monthly Pass (Regular Price) 11,750.00 kr 11,000.00-12,300.00
Taxi Start (Normal Tariff) 690.00 kr 690.00-800.00
Taxi 1 mile (Normal Tariff) 500.34 kr 366.93-532.69
Taxi 1hour Waiting (Normal Tariff) 7,440.00 kr 7,440.00-8,287.00
Gasoline (1 gallon) 755.59 kr 719.23-794.94
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) 3,400,000.00 kr 3,250,000.00-3,500,000.00
Toyota Corolla 1.6l 97kW Comfort (Or Equivalent New Car) 3,473,888.89 kr 3,180,000.00-3,960,000.00
Utilities (Monthly) [ Edit ]
Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment 12,640.99 kr 6,181.82-23,000.00
1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) 20.39 kr 10.00-25.00
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) 6,286.12 kr 4,000.00-9,000.00
Sports And Leisure [ Edit ]
Fitness Club, Monthly Fee for 1 Adult 7,858.92 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 1,295.00-1,590.00
Childcare [ Edit ]
Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child 34,088.24 kr 27,447.00-40,797.00
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) 14,435.42 kr 8,500.00-18,000.00
1 Summer Dress in a Chain Store (Zara, H&M, ...) 7,929.78 kr 5,000.00-12,000.00
1 Pair of Nike Running Shoes (Mid-Range) 17,442.97 kr 12,000.00-25,000.00
1 Pair of Men Leather Business Shoes 24,129.67 kr 16,000.00-35,000.00
Rent Per Month [ Edit ]
Apartment (1 bedroom) in City Centre 176,000.00 kr 140,000.00-220,000.00
Apartment (1 bedroom) Outside of Centre 144,242.42 kr 100,000.00-180,000.00
Apartment (3 bedrooms) in City Centre 265,000.00 kr 200,000.00-350,000.00
Apartment (3 bedrooms) Outside of Centre 223,142.86 kr 180,000.00-260,000.00
Buy Apartment Price [ Edit ]
Price per Square Feet to Buy Apartment in City Centre 48,128.42 kr 41,806.02-60,386.47
Price per Square Feet to Buy Apartment Outside of Centre 36,664.66 kr 27,870.68-46,451.13
Salaries And Financing [ Edit ]
Average Monthly Net Salary (After Tax) 339,107.67 kr
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 6.21 4.00-7.80

Prices in Iceland

These data are based on 2427 entries in the past 18 months from 309 different contributors.
Last update: April 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!