Cost of Living in Iceland

Summary of cost of living in Iceland:

Restaurants
Edit Range
Meal, Inexpensive Restaurant 8,856.57 Ft 5,331.10-16,736.83
Meal for 2 People, Mid-range Restaurant, Three-course 50,210.49 Ft 30,684.19-83,684.16
McMeal at McDonalds (or Equivalent Combo Meal) 6,973.68 Ft 6,415.79-9,205.26
Domestic Beer (1 pint draught) 4,184.21 Ft 2,789.47-5,300.00
Imported Beer (12 oz small bottle) 3,626.31 Ft 2,789.47-5,021.05
Cappuccino (regular) 2,092.03 Ft 1,288.74-2,650.00
Coke/Pepsi (12 oz small bottle) 1,123.41 Ft 836.84-1,534.21
Water (12 oz small bottle) 913.48 Ft 697.37-1,366.84
Markets
Edit
Milk (regular), (1 gallon) 2,485.66 Ft 2,154.10-3,695.76
Loaf of Fresh White Bread (1 lb) 1,294.65 Ft 710.81-2,530.57
Rice (white), (1 lb) 548.47 Ft 374.52-808.52
Eggs (regular) (12) 2,242.60 Ft 1,673.68-2,789.47
Local Cheese (1 lb) 2,929.74 Ft 1,771.40-3,795.85
Chicken Fillets (1 lb) 3,795.27 Ft 1,897.93-4,681.55
Beef Round (1 lb) (or Equivalent Back Leg Red Meat) 6,736.97 Ft 3,768.02-8,856.99
Apples (1 lb) 486.08 Ft 340.36-759.17
Banana (1 lb) 387.75 Ft 351.75-695.91
Oranges (1 lb) 457.31 Ft 355.41-759.17
Tomato (1 lb) 771.75 Ft 377.05-1,138.76
Potato (1 lb) 565.98 Ft 355.41-708.56
Onion (1 lb) 351.65 Ft 250.53-657.95
Lettuce (1 head) 1,099.65 Ft 627.63-1,673.68
Water (1.5 liter bottle) 778.01 Ft 471.42-1,255.26
Bottle of Wine (Mid-Range) 8,228.94 Ft 5,578.94-12,552.62
Domestic Beer (0.5 liter bottle) 1,278.07 Ft 1,090.43-1,673.68
Imported Beer (12 oz small bottle) 1,086.70 Ft 697.37-1,422.63
Cigarettes 20 Pack (Marlboro) 4,935.97 Ft 4,184.21-5,272.10
Transportation
Edit
One-way Ticket (Local Transport) 1,785.26 Ft 1,562.10-1,813.16
Monthly Pass (Regular Price) 29,149.98 Ft 25,942.09-30,684.19
Taxi Start (Normal Tariff) 2,203.68 Ft 2,036.31-2,789.47
Taxi 1 mile (Normal Tariff) 1,454.51 Ft 1,346.77-2,029.13
Taxi 1hour Waiting (Normal Tariff) 29,875.24 Ft 27,615.77-33,473.66
Gasoline (1 gallon) 3,290.59 Ft 3,083.32-3,399.04
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) 16,429,989.13 Ft 15,342,095.11-17,266,830.68
Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) 18,596,478.93 Ft 17,294,725.40-19,526,302.87
Utilities (Monthly)
Edit
Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment 31,195.29 Ft 22,228.60-66,947.32
Mobile Phone Monthly Plan with Calls and 10GB+ Data 9,568.88 Ft 6,973.68-13,947.36
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) 30,080.19 Ft 20,948.93-44,631.55
Sports And Leisure
Edit
Fitness Club, Monthly Fee for 1 Adult 27,764.12 Ft 22,036.83-41,842.08
Tennis Court Rent (1 Hour on Weekend) 13,017.54 Ft 5,857.89-20,921.04
Cinema, International Release, 1 Seat 6,108.94 Ft 5,021.05-6,694.73
Childcare
Edit
Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child 121,705.49 Ft 97,631.51-163,538.37
International Primary School, Yearly for 1 Child 10,444,605.46 Ft 10,444,605.46-10,444,605.46
Clothing And Shoes
Edit
1 Pair of Jeans (Levis 501 Or Similar) 48,041.27 Ft 27,894.72-64,157.85
1 Summer Dress in a Chain Store (Zara, H&M, ...) 22,078.67 Ft 13,947.36-36,263.13
1 Pair of Nike Running Shoes (Mid-Range) 60,578.03 Ft 41,842.08-83,684.16
1 Pair of Men Leather Business Shoes 88,095.01 Ft 50,210.49-111,578.87
Rent Per Month
Edit
Apartment (1 bedroom) in City Centre 767,104.76 Ft 613,683.80-948,420.43
Apartment (1 bedroom) Outside of Centre 692,718.84 Ft 557,894.37-836,841.55
Apartment (3 bedrooms) in City Centre 1,098,944.62 Ft 976,315.14-1,394,735.92
Apartment (3 bedrooms) Outside of Centre 943,048.11 Ft 836,841.55-1,115,788.74
Buy Apartment Price
Edit
Price per Square Feet to Buy Apartment in City Centre 240,927.06 Ft 220,016.87-285,063.08
Price per Square Feet to Buy Apartment Outside of Centre 204,504.13 Ft 181,403.78-233,233.43
Salaries And Financing
Edit
Average Monthly Net Salary (After Tax) 1,572,641.74 Ft
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 9.90 5.00-11.00

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.
Sources and References
Distribution of Expenses Using Our Statistical Model:
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