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Cost of Living in Iceland

Cost of living in Iceland is 38.02% higher than in United States (aggregate data for all cities, rent is not taken into account). Rent in Iceland is 14.11% higher than in United States (average data for all cities).
Restaurants [ Edit ] Range
Meal, Inexpensive Restaurant 18.08 € 12.29-22.57
Meal for 2 People, Mid-range Restaurant, Three-course 92.19 € 68.69-130.15
McMeal at McDonalds (or Equivalent Combo Meal) 11.57 € 10.83-14.39
Domestic Beer (1 pint draught) 8.68 € 7.23-9.04
Imported Beer (12 oz small bottle) 7.23 € 6.51-8.68
Cappuccino (regular) 4.00 € 3.25-4.70
Coke/Pepsi (12 oz small bottle) 2.21 € 1.16-3.54
Water (12 oz small bottle) 1.85 € 1.08-2.53
Markets [ Edit ]
Milk (regular), (1 gallon) 4.30 € 3.97-4.90
Loaf of Fresh White Bread (1 lb) 2.22 € 1.80-2.87
Rice (white), (1 lb) 1.20 € 0.82-1.90
Eggs (regular) (12) 4.47 € 3.62-5.21
Local Cheese (1 lb) 5.40 € 4.08-6.89
Chicken Breasts (Boneless, Skinless), (1 lb) 6.38 € 5.25-8.04
Beef Round (1 lb) (or Equivalent Back Leg Red Meat) 9.92 € 6.56-16.07
Apples (1 lb) 0.97 € 0.75-1.31
Banana (1 lb) 0.81 € 0.66-0.98
Oranges (1 lb) 1.00 € 0.82-1.31
Tomato (1 lb) 1.62 € 1.15-2.16
Potato (1 lb) 0.89 € 0.66-1.30
Onion (1 lb) 0.72 € 0.26-1.12
Lettuce (1 head) 2.08 € 1.35-2.67
Water (1.5 liter bottle) 1.57 € 0.90-2.74
Bottle of Wine (Mid-Range) 18.08 € 14.46-21.69
Domestic Beer (0.5 liter bottle) 2.44 € 2.09-2.89
Imported Beer (12 oz small bottle) 2.46 € 2.17-3.04
Cigarettes 20 Pack (Marlboro) 10.05 € 8.68-11.27
Transportation [ Edit ]
One-way Ticket (Local Transport) 3.40 € 3.25-3.40
Monthly Pass (Regular Price) 88.93 € 79.53-92.55
Taxi Start (Normal Tariff) 4.99 € 4.99-5.78
Taxi 1 mile (Normal Tariff) 3.49 € 2.82-4.65
Taxi 1hour Waiting (Normal Tariff) 57.26 € 53.79-60.30
Gasoline (1 gallon) 6.11 € 5.61-6.49
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) 25,685.83 € 22,414.10-30,295.18
Toyota Corolla 1.6l 97kW Comfort (Or Equivalent New Car) 29,142.85 € 23,643.26-32,536.59
Utilities (Monthly) [ Edit ]
Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment 85.67 € 47.28-144.61
1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) 0.15 € 0.11-0.20
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) 60.06 € 43.38-79.32
Sports And Leisure [ Edit ]
Fitness Club, Monthly Fee for 1 Adult 54.50 € 45.19-82.64
Tennis Court Rent (1 Hour on Weekend) 32.20 € 21.69-65.07
Cinema, International Release, 1 Seat 11.21 € 10.48-12.15
Childcare [ Edit ]
Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child 252.52 € 182.45-310.91
International Primary School, Yearly for 1 Child 6,073.50 € 1,822.05-8,676.42
Clothing And Shoes [ Edit ]
1 Pair of Jeans (Levis 501 Or Similar) 101.32 € 57.84-137.38
1 Summer Dress in a Chain Store (Zara, H&M, ...) 46.23 € 25.31-86.76
1 Pair of Nike Running Shoes (Mid-Range) 128.92 € 101.22-180.76
1 Pair of Men Leather Business Shoes 169.43 € 108.46-231.37
Rent Per Month [ Edit ]
Apartment (1 bedroom) in City Centre 1,338.69 € 1,012.25-1,807.59
Apartment (1 bedroom) Outside of Centre 1,109.36 € 795.34-1,446.07
Apartment (3 bedrooms) in City Centre 2,048.94 € 1,590.68-2,530.62
Apartment (3 bedrooms) Outside of Centre 1,744.54 € 1,373.77-2,169.11
Buy Apartment Price [ Edit ]
Price per Square Feet to Buy Apartment in City Centre 396.38 € 335.86-537.37
Price per Square Feet to Buy Apartment Outside of Centre 298.83 € 235.10-403.03
Salaries And Financing [ Edit ]
Average Monthly Net Salary (After Tax) 2,758.05 €
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 6.41 0.04-0.05

Prices in Iceland

These data are based on 2905 entries in the past 18 months from 327 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
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ItalianoCosto della Vita in Islanda
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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!