Cost of Living in Iceland
Summary of cost of living in Iceland:
- The estimated monthly costs for a family of four are 4,186.2£ (720,488.0kr), excluding rent.
- The estimated monthly costs for a single person are 1,119.4£ (192,654.2kr), excluding rent.
- Cost of living in Iceland is, on average, 40.5% higher than in United States.
- Rent in Iceland is, on average, 15.7% higher than in United States.
Restaurants |  Edit |
Range |
|---|---|---|
| Meal, Inexpensive Restaurant | 18.45 £ | |
| Meal for 2 People, Mid-range Restaurant, Three-course | 104.59 £ | |
| McMeal at McDonalds (or Equivalent Combo Meal) | 14.53 £ | |
| Domestic Beer (1 pint draught) | 8.72 £ | |
| Imported Beer (12 oz small bottle) | 7.55 £ | |
| Cappuccino (regular) | 4.36 £ | |
| Coke/Pepsi (12 oz small bottle) | 2.34 £ | |
| Water (12 oz small bottle) | 1.90 £ | |
Markets | Edit |
|
| Milk (regular), (1 gallon) | 5.18 £ | |
| Loaf of Fresh White Bread (1 lb) | 2.70 £ | |
| Rice (white), (1 lb) | 1.14 £ | |
| Eggs (regular) (12) | 4.67 £ | |
| Local Cheese (1 lb) | 6.10 £ | |
| Chicken Fillets (1 lb) | 7.91 £ | |
| Beef Round (1 lb) (or Equivalent Back Leg Red Meat) | 14.03 £ | |
| Apples (1 lb) | 1.01 £ | |
| Banana (1 lb) | 0.81 £ | |
| Oranges (1 lb) | 0.95 £ | |
| Tomato (1 lb) | 1.61 £ | |
| Potato (1 lb) | 1.18 £ | |
| Onion (1 lb) | 0.73 £ | |
| Lettuce (1 head) | 2.29 £ | |
| Water (1.5 liter bottle) | 1.62 £ | |
| Bottle of Wine (Mid-Range) | 17.14 £ | |
| Domestic Beer (0.5 liter bottle) | 2.66 £ | |
| Imported Beer (12 oz small bottle) | 2.26 £ | |
| Cigarettes 20 Pack (Marlboro) | 10.28 £ | |
Transportation | Edit |
|
| One-way Ticket (Local Transport) | 3.72 £ | |
| Monthly Pass (Regular Price) | 60.72 £ | |
| Taxi Start (Normal Tariff) | 4.59 £ | |
| Taxi 1 mile (Normal Tariff) | 3.03 £ | |
| Taxi 1hour Waiting (Normal Tariff) | 62.23 £ | |
| Gasoline (1 gallon) | 6.85 £ | |
| Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) | 34,222.58 £ | |
| Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) | 38,735.24 £ | |
Utilities (Monthly) | Edit |
|
| Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment | 64.98 £ | |
| Mobile Phone Monthly Plan with Calls and 10GB+ Data | 19.93 £ | |
| Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) | 62.66 £ | |
Sports And Leisure | Edit |
|
| Fitness Club, Monthly Fee for 1 Adult | 57.83 £ | |
| Tennis Court Rent (1 Hour on Weekend) | 27.11 £ | |
| Cinema, International Release, 1 Seat | 12.72 £ | |
Childcare | Edit |
|
| Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child | 253.50 £ | |
| International Primary School, Yearly for 1 Child | 21,755.43 £ | |
Clothing And Shoes | Edit |
|
| 1 Pair of Jeans (Levis 501 Or Similar) | 100.07 £ | |
| 1 Summer Dress in a Chain Store (Zara, H&M, ...) | 45.99 £ | |
| 1 Pair of Nike Running Shoes (Mid-Range) | 126.18 £ | |
| 1 Pair of Men Leather Business Shoes | 183.50 £ | |
Rent Per Month | Edit |
|
| Apartment (1 bedroom) in City Centre | 1,597.83 £ | |
| Apartment (1 bedroom) Outside of Centre | 1,442.89 £ | |
| Apartment (3 bedrooms) in City Centre | 2,289.03 £ | |
| Apartment (3 bedrooms) Outside of Centre | 1,964.31 £ | |
Buy Apartment Price | Edit |
|
| Price per Square Feet to Buy Apartment in City Centre | 501.84 £ | |
| Price per Square Feet to Buy Apartment Outside of Centre | 425.97 £ | |
Salaries And Financing | Edit |
|
| Average Monthly Net Salary (After Tax) | 3,276.84 £ | |
| Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate | 9.90 |
Prices in Iceland
This country had 1053 entries in the past 12 months by 152 different contributors.
Last update: 21 May 2025
Our data for each country are based on all entries from all cities in that country.
Last update: 21 May 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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