Cost of Living in Iceland

Summary of cost of living in Iceland:

A family of four estimated monthly costs are 1,746,570.7Ft (665,440.5kr) without rent.
A single person estimated monthly costs are 471,080.6Ft (179,480.9kr) without rent.
Cost of living in Iceland is, on average, 19.9% higher than in United States.
Rent in Iceland is, on average, 7.3% lower than in United States.

Restaurants	Edit	Range
Meal, Inexpensive Restaurant	7,874.05 Ft	5,223.12-13,123.42
Meal for 2 People, Mid-range Restaurant, Three-course	43,363.97 Ft	26,246.83-73,491.14
McMeal at McDonalds (or Equivalent Combo Meal)	6,036.77 Ft	5,249.37-6,561.71
Domestic Beer (1 pint draught)	3,674.56 Ft	2,362.22-4,724.43
Imported Beer (12 oz small bottle)	3,149.62 Ft	2,168.20-4,724.43
Cappuccino (regular)	1,843.17 Ft	1,084.10-2,624.68
Coke/Pepsi (12 oz small bottle)	1,074.43 Ft	734.91-1,373.39
Water (12 oz small bottle)	788.93 Ft	524.94-1,181.11
Markets	Edit
Milk (regular), (1 gallon)	2,262.56 Ft	1,689.04-2,980.65
Loaf of Fresh White Bread (1 lb)	1,131.26 Ft	704.80-1,904.86
Rice (white), (1 lb)	479.79 Ft	333.35-760.75
Eggs (regular) (12)	2,083.60 Ft	1,569.56-2,519.70
Local Cheese (1 lb)	2,454.95 Ft	1,428.65-3,495.42
Chicken Fillets (1 lb)	3,177.43 Ft	1,806.83-4,403.80
Beef Round (1 lb) (or Equivalent Back Leg Red Meat)	5,382.25 Ft	2,738.24-8,333.76
Apples (1 lb)	464.02 Ft	297.63-891.71
Banana (1 lb)	364.55 Ft	297.63-595.27
Oranges (1 lb)	438.36 Ft	321.45-892.90
Tomato (1 lb)	774.01 Ft	361.37-1,129.82
Potato (1 lb)	503.07 Ft	267.87-654.80
Onion (1 lb)	297.66 Ft	141.67-619.08
Lettuce (1 head)	1,079.74 Ft	524.94-1,690.30
Water (1.5 liter bottle)	734.53 Ft	314.96-1,312.34
Bottle of Wine (Mid-Range)	7,660.14 Ft	5,249.37-11,811.08
Domestic Beer (0.5 liter bottle)	1,158.17 Ft	866.15-1,574.81
Imported Beer (12 oz small bottle)	949.34 Ft	656.17-1,312.34
Cigarettes 20 Pack (Marlboro)	4,330.73 Ft	3,937.03-5,223.12
Transportation	Edit
One-way Ticket (Local Transport)	1,496.07 Ft	1,312.34-1,653.55
Monthly Pass (Regular Price)	24,409.56 Ft	23,622.15-28,346.58
Taxi Start (Normal Tariff)	1,916.02 Ft	1,837.28-2,335.97
Taxi 1 mile (Normal Tariff)	1,368.58 Ft	1,208.07-2,027.53
Taxi 1hour Waiting (Normal Tariff)	25,984.37 Ft	20,997.47-31,496.20
Gasoline (1 gallon)	3,093.20 Ft	2,611.47-3,328.40
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car)	15,196,916.99 Ft	13,385,885.43-15,748,100.51
Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car)	15,566,341.18 Ft	14,173,290.46-17,716,613.07
Utilities (Monthly)	Edit
Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment	36,210.29 Ft	18,897.72-65,617.09
Mobile Phone Monthly Plan with Calls and 10GB+ Data	8,746.45 Ft	6,561.71-13,123.42
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL)	25,561.61 Ft	17,060.44-39,370.25
Sports And Leisure	Edit
Fitness Club, Monthly Fee for 1 Adult	23,428.71 Ft	17,497.89-38,057.91
Tennis Court Rent (1 Hour on Weekend)	10,858.90 Ft	6,824.18-15,748.10
Cinema, International Release, 1 Seat	5,249.37 Ft	4,435.71-6,299.24
Childcare	Edit
Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child	95,786.95 Ft	81,260.20-131,234.17
International Primary School, Yearly for 1 Child	2,037,410.50 Ft	1,601,056.89-3,280,854.27
Clothing And Shoes	Edit
1 Pair of Jeans (Levis 501 Or Similar)	41,174.28 Ft	21,259.94-52,493.67
1 Summer Dress in a Chain Store (Zara, H&M, ...)	18,411.46 Ft	9,973.80-41,994.93
1 Pair of Nike Running Shoes (Mid-Range)	54,050.98 Ft	26,771.77-70,866.45
1 Pair of Men Leather Business Shoes	64,050.63 Ft	40,026.42-91,863.92
Rent Per Month	Edit
Apartment (1 bedroom) in City Centre	659,583.27 Ft	472,443.02-787,405.03
Apartment (1 bedroom) Outside of Centre	584,257.87 Ft	393,702.51-734,911.36
Apartment (3 bedrooms) in City Centre	923,552.07 Ft	695,541.11-1,181,107.54
Apartment (3 bedrooms) Outside of Centre	839,148.78 Ft	656,170.85-1,049,873.37
Buy Apartment Price	Edit
Price per Square Feet to Buy Apartment in City Centre	196,290.42 Ft	152,399.40-243,839.04
Price per Square Feet to Buy Apartment Outside of Centre	157,127.32 Ft	121,919.52-217,016.74
Salaries And Financing	Edit
Average Monthly Net Salary (After Tax)	1,516,010.19 Ft
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate	7.44	3.70-10.50

Prices in Iceland

This country had 1697 entries in the past 12 months by 229 different contributors.
Last update: July 2024
Our data for each country are based on all entries from all cities in that country.

Sources and References