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Cost of Living in Iceland

Cost of living in Iceland is 40.21% higher than in United States (aggregate data for all cities, rent is not taken into account). Rent in Iceland is 15.57% higher than in United States (average data for all cities).
Restaurants [ Edit ] Range
Meal, Inexpensive Restaurant 18.17 € 12.36-25.44
Meal for 2 People, Mid-range Restaurant, Three-course 92.66 € 65.41-130.82
McMeal at McDonalds (or Equivalent Combo Meal) 11.63 € 10.83-14.54
Domestic Beer (1 pint draught) 8.72 € 7.27-9.08
Imported Beer (12 oz small bottle) 7.27 € 5.81-9.45
Cappuccino (regular) 4.08 € 3.05-4.72
Coke/Pepsi (12 oz small bottle) 2.33 € 1.17-3.63
Water (12 oz small bottle) 1.88 € 1.09-2.54
Markets [ Edit ]
Milk (regular), (1 gallon) 4.52 € 4.13-5.50
Loaf of Fresh White Bread (1 lb) 2.34 € 1.80-2.97
Rice (white), (1 lb) 1.18 € 0.82-1.88
Eggs (regular) (12) 4.66 € 3.63-5.59
Local Cheese (1 lb) 5.44 € 4.29-6.92
Chicken Breasts (Boneless, Skinless), (1 lb) 6.63 € 5.60-8.08
Beef Round (1 lb) (or Equivalent Back Leg Red Meat) 10.18 € 6.59-16.15
Apples (1 lb) 1.01 € 0.76-1.32
Banana (1 lb) 0.78 € 0.66-1.22
Oranges (1 lb) 1.00 € 0.82-1.35
Tomato (1 lb) 1.67 € 1.15-2.51
Potato (1 lb) 0.92 € 0.66-1.32
Onion (1 lb) 0.71 € 0.32-1.12
Lettuce (1 head) 2.17 € 1.35-2.89
Water (1.5 liter bottle) 1.62 € 0.90-2.18
Bottle of Wine (Mid-Range) 18.17 € 14.54-27.03
Domestic Beer (0.5 liter bottle) 2.45 € 2.10-2.91
Imported Beer (12 oz small bottle) 2.49 € 2.18-3.15
Cigarettes 20 Pack (Marlboro) 10.17 € 9.45-11.63
Transportation [ Edit ]
One-way Ticket (Local Transport) 3.42 € 3.27-3.42
Monthly Pass (Regular Price) 93.03 € 79.94-93.03
Taxi Start (Normal Tariff) 5.05 € 5.01-5.81
Taxi 1 mile (Normal Tariff) 3.51 € 2.83-4.68
Taxi 1hour Waiting (Normal Tariff) 57.56 € 54.07-60.61
Gasoline (1 gallon) 6.15 € 5.58-6.59
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) 26,091.14 € 24,637.59-30,451.78
Toyota Corolla 1.6l 97kW Comfort (Or Equivalent New Car) 29,827.96 € 23,983.50-33,213.51
Utilities (Monthly) [ Edit ]
Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment 89.16 € 47.52-144.14
1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) 0.16 € 0.11-0.26
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) 60.13 € 43.61-79.94
Sports And Leisure [ Edit ]
Fitness Club, Monthly Fee for 1 Adult 54.94 € 45.42-83.07
Tennis Court Rent (1 Hour on Weekend) 31.19 € 21.80-65.41
Cinema, International Release, 1 Seat 11.56 € 10.54-12.36
Childcare [ Edit ]
Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child 250.89 € 183.39-327.05
International Primary School, Yearly for 1 Child 5,332.44 € 1,831.47-8,721.27
Clothing And Shoes [ Edit ]
1 Pair of Jeans (Levis 501 Or Similar) 108.87 € 72.68-138.09
1 Summer Dress in a Chain Store (Zara, H&M, ...) 48.92 € 29.07-87.21
1 Pair of Nike Running Shoes (Mid-Range) 128.92 € 87.21-181.69
1 Pair of Men Leather Business Shoes 165.93 € 109.02-247.10
Rent Per Month [ Edit ]
Apartment (1 bedroom) in City Centre 1,327.98 € 908.47-1,816.93
Apartment (1 bedroom) Outside of Centre 1,094.75 € 726.77-1,453.55
Apartment (3 bedrooms) in City Centre 2,119.04 € 1,598.90-2,907.09
Apartment (3 bedrooms) Outside of Centre 1,789.21 € 1,380.87-2,180.32
Buy Apartment Price [ Edit ]
Price per Square Feet to Buy Apartment in City Centre 395.62 € 290.33-523.27
Price per Square Feet to Buy Apartment Outside of Centre 296.95 € 236.32-405.11
Salaries And Financing [ Edit ]
Average Monthly Net Salary (After Tax) 2,764.44 €
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 6.30 0.04-0.05

Prices in Iceland

These data are based on 2803 entries in the past 18 months from 337 different contributors.
Last update: January 2020
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
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Cost of Living in this country for some cities: Reykjavik

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