Cost of Living in Iceland
Summary of cost of living in Iceland:
- The estimated monthly costs for a family of four are 8,670.6A$ (709,335.9kr), excluding rent.
- The estimated monthly costs for a single person are 2,318.4A$ (189,671.3kr), excluding rent.
- Cost of living in Iceland is, on average, 39.0% higher than in United States.
- Rent in Iceland is, on average, 16.0% higher than in United States.
Restaurants |  Edit |
Range |
|---|---|---|
| Meal, Inexpensive Restaurant | 37.89 A$ | |
| Meal for 2 People, Mid-range Restaurant, Three-course | 207.80 A$ | |
| McMeal at McDonalds (or Equivalent Combo Meal) | 30.56 A$ | |
| Domestic Beer (1 pint draught) | 18.34 A$ | |
| Imported Beer (12 oz small bottle) | 15.75 A$ | |
| Cappuccino (regular) | 9.16 A$ | |
| Coke/Pepsi (12 oz small bottle) | 4.99 A$ | |
| Water (12 oz small bottle) | 4.00 A$ | |
Markets | Edit |
|
| Milk (regular), (1 gallon) | 10.89 A$ | |
| Loaf of Fresh White Bread (1 lb) | 5.45 A$ | |
| Rice (white), (1 lb) | 2.41 A$ | |
| Eggs (regular) (12) | 10.00 A$ | |
| Local Cheese (1 lb) | 12.59 A$ | |
| Chicken Fillets (1 lb) | 16.51 A$ | |
| Beef Round (1 lb) (or Equivalent Back Leg Red Meat) | 28.44 A$ | |
| Apples (1 lb) | 2.14 A$ | |
| Banana (1 lb) | 1.71 A$ | |
| Oranges (1 lb) | 2.00 A$ | |
| Tomato (1 lb) | 3.51 A$ | |
| Potato (1 lb) | 2.48 A$ | |
| Onion (1 lb) | 1.54 A$ | |
| Lettuce (1 head) | 4.92 A$ | |
| Water (1.5 liter bottle) | 3.43 A$ | |
| Bottle of Wine (Mid-Range) | 36.67 A$ | |
| Domestic Beer (0.5 liter bottle) | 5.65 A$ | |
| Imported Beer (12 oz small bottle) | 4.76 A$ | |
| Cigarettes 20 Pack (Marlboro) | 21.09 A$ | |
Transportation | Edit |
|
| One-way Ticket (Local Transport) | 7.82 A$ | |
| Monthly Pass (Regular Price) | 127.12 A$ | |
| Taxi Start (Normal Tariff) | 9.66 A$ | |
| Taxi 1 mile (Normal Tariff) | 6.37 A$ | |
| Taxi 1hour Waiting (Normal Tariff) | 129.81 A$ | |
| Gasoline (1 gallon) | 14.45 A$ | |
| Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) | 71,996.43 A$ | |
| Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) | 81,490.02 A$ | |
Utilities (Monthly) | Edit |
|
| Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment | 133.54 A$ | |
| Mobile Phone Monthly Plan with Calls and 10GB+ Data | 41.93 A$ | |
| Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) | 125.50 A$ | |
Sports And Leisure | Edit |
|
| Fitness Club, Monthly Fee for 1 Adult | 123.24 A$ | |
| Tennis Court Rent (1 Hour on Weekend) | 58.88 A$ | |
| Cinema, International Release, 1 Seat | 26.77 A$ | |
Childcare | Edit |
|
| Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child | 519.20 A$ | |
| International Primary School, Yearly for 1 Child | 45,768.40 A$ | |
Clothing And Shoes | Edit |
|
| 1 Pair of Jeans (Levis 501 Or Similar) | 212.16 A$ | |
| 1 Summer Dress in a Chain Store (Zara, H&M, ...) | 90.90 A$ | |
| 1 Pair of Nike Running Shoes (Mid-Range) | 263.62 A$ | |
| 1 Pair of Men Leather Business Shoes | 362.87 A$ | |
Rent Per Month | Edit |
|
| Apartment (1 bedroom) in City Centre | 3,361.46 A$ | |
| Apartment (1 bedroom) Outside of Centre | 3,055.88 A$ | |
| Apartment (3 bedrooms) in City Centre | 4,815.59 A$ | |
| Apartment (3 bedrooms) Outside of Centre | 4,132.45 A$ | |
Buy Apartment Price | Edit |
|
| Price per Square Feet to Buy Apartment in City Centre | 1,046.54 A$ | |
| Price per Square Feet to Buy Apartment Outside of Centre | 891.08 A$ | |
Salaries And Financing | Edit |
|
| Average Monthly Net Salary (After Tax) | 6,743.17 A$ | |
| Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate | 9.76 |
Prices in Iceland
This country had 1025 entries in the past 12 months by 147 different contributors.
Last update: April 2025
Our data for each country are based on all entries from all cities in that country.
Last update: April 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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