Cost of Living in Iceland
Summary of cost of living in Iceland:
- A family of four estimated monthly costs are 1,687,603.2Ft (632,403.9kr) without rent.
- A single person estimated monthly costs are 457,227.9Ft (171,339.3kr) without rent.
- Cost of living in Iceland is, on average, 18.4% higher than in United States.
- Rent in Iceland is, on average, 13.3% lower than in United States.
Restaurants |  Edit |
Range |
|---|---|---|
| Meal, Inexpensive Restaurant | 6,671.38 Ft | |
| Meal for 2 People, Mid-range Restaurant, Three-course | 42,029.70 Ft | |
| McMeal at McDonalds (or Equivalent Combo Meal) | 5,603.96 Ft | |
| Domestic Beer (1 pint draught) | 3,469.12 Ft | |
| Imported Beer (12 oz small bottle) | 2,668.55 Ft | |
| Cappuccino (regular) | 1,674.85 Ft | |
| Coke/Pepsi (12 oz small bottle) | 1,008.46 Ft | |
| Water (12 oz small bottle) | 769.73 Ft | |
Markets | Edit |
|
| Milk (regular), (1 gallon) | 2,145.92 Ft | |
| Loaf of Fresh White Bread (1 lb) | 1,124.65 Ft | |
| Rice (white), (1 lb) | 509.91 Ft | |
| Eggs (regular) (12) | 2,125.36 Ft | |
| Local Cheese (1 lb) | 2,283.67 Ft | |
| Chicken Fillets (1 lb) | 3,002.03 Ft | |
| Beef Round (1 lb) (or Equivalent Back Leg Red Meat) | 4,801.40 Ft | |
| Apples (1 lb) | 514.66 Ft | |
| Banana (1 lb) | 378.14 Ft | |
| Oranges (1 lb) | 435.00 Ft | |
| Tomato (1 lb) | 783.52 Ft | |
| Potato (1 lb) | 470.51 Ft | |
| Onion (1 lb) | 258.99 Ft | |
| Lettuce (1 head) | 1,082.67 Ft | |
| Water (1.5 liter bottle) | 740.82 Ft | |
| Bottle of Wine (Mid-Range) | 7,205.09 Ft | |
| Domestic Beer (0.5 liter bottle) | 1,148.73 Ft | |
| Imported Beer (12 oz small bottle) | 976.49 Ft | |
| Cigarettes 20 Pack (Marlboro) | 4,269.68 Ft | |
Transportation | Edit |
|
| One-way Ticket (Local Transport) | 1,467.70 Ft | |
| Monthly Pass (Regular Price) | 24,016.97 Ft | |
| Taxi Start (Normal Tariff) | 1,948.04 Ft | |
| Taxi 1 mile (Normal Tariff) | 1,421.52 Ft | |
| Taxi 1hour Waiting (Normal Tariff) | 24,489.31 Ft | |
| Gasoline (1 gallon) | 3,155.24 Ft | |
| Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) | 13,342,763.27 Ft | |
| Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) | 14,903,699.79 Ft | |
Utilities (Monthly) | Edit |
|
| Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment | 39,591.55 Ft | |
| Mobile Phone Monthly Plan with Calls and 10GB+ Data | 8,413.06 Ft | |
| Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) | 25,317.10 Ft | |
Sports And Leisure | Edit |
|
| Fitness Club, Monthly Fee for 1 Adult | 23,379.02 Ft | |
| Tennis Court Rent (1 Hour on Weekend) | 11,336.90 Ft | |
| Cinema, International Release, 1 Seat | 5,136.96 Ft | |
Childcare | Edit |
|
| Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child | 95,536.85 Ft | |
| International Primary School, Yearly for 1 Child | 2,071,464.00 Ft | |
Clothing And Shoes | Edit |
|
| 1 Pair of Jeans (Levis 501 Or Similar) | 41,777.91 Ft | |
| 1 Summer Dress in a Chain Store (Zara, H&M, ...) | 17,318.27 Ft | |
| 1 Pair of Nike Running Shoes (Mid-Range) | 54,376.49 Ft | |
| 1 Pair of Men Leather Business Shoes | 67,123.20 Ft | |
Rent Per Month | Edit |
|
| Apartment (1 bedroom) in City Centre | 596,450.19 Ft | |
| Apartment (1 bedroom) Outside of Centre | 519,745.02 Ft | |
| Apartment (3 bedrooms) in City Centre | 876,886.40 Ft | |
| Apartment (3 bedrooms) Outside of Centre | 763,342.91 Ft | |
Buy Apartment Price | Edit |
|
| Price per Square Feet to Buy Apartment in City Centre | 194,614.84 Ft | |
| Price per Square Feet to Buy Apartment Outside of Centre | 154,758.32 Ft | |
Salaries And Financing | Edit |
|
| Average Monthly Net Salary (After Tax) | 1,542,001.69 Ft | |
| Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate | 6.76 |
Prices in Iceland
This country had 2093 entries in the past 12 months by 276 different contributors.
Last update: September 2023
Our data for each country are based on all entries from all cities in that country.
Last update: September 2023
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
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 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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