Cost of Living in Iceland
Summary of cost of living in Iceland:
- The estimated monthly costs for a family of four are 2,008,197.4Ft (720,488.0kr), excluding rent.
- The estimated monthly costs for a single person are 536,979.9Ft (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 | 8,849.59 Ft | |
| Meal for 2 People, Mid-range Restaurant, Three-course | 50,170.93 Ft | |
| McMeal at McDonalds (or Equivalent Combo Meal) | 6,968.18 Ft | |
| Domestic Beer (1 pint draught) | 4,180.91 Ft | |
| Imported Beer (12 oz small bottle) | 3,623.46 Ft | |
| Cappuccino (regular) | 2,090.82 Ft | |
| Coke/Pepsi (12 oz small bottle) | 1,122.95 Ft | |
| Water (12 oz small bottle) | 913.18 Ft | |
Markets | Edit |
|
| Milk (regular), (1 gallon) | 2,483.70 Ft | |
| Loaf of Fresh White Bread (1 lb) | 1,293.62 Ft | |
| Rice (white), (1 lb) | 548.04 Ft | |
| Eggs (regular) (12) | 2,240.84 Ft | |
| Local Cheese (1 lb) | 2,927.43 Ft | |
| Chicken Fillets (1 lb) | 3,792.28 Ft | |
| Beef Round (1 lb) (or Equivalent Back Leg Red Meat) | 6,731.66 Ft | |
| Apples (1 lb) | 485.70 Ft | |
| Banana (1 lb) | 387.45 Ft | |
| Oranges (1 lb) | 456.95 Ft | |
| Tomato (1 lb) | 771.14 Ft | |
| Potato (1 lb) | 565.54 Ft | |
| Onion (1 lb) | 351.48 Ft | |
| Lettuce (1 head) | 1,098.78 Ft | |
| Water (1.5 liter bottle) | 777.62 Ft | |
| Bottle of Wine (Mid-Range) | 8,222.46 Ft | |
| Domestic Beer (0.5 liter bottle) | 1,277.06 Ft | |
| Imported Beer (12 oz small bottle) | 1,085.84 Ft | |
| Cigarettes 20 Pack (Marlboro) | 4,932.08 Ft | |
Transportation | Edit |
|
| One-way Ticket (Local Transport) | 1,783.86 Ft | |
| Monthly Pass (Regular Price) | 29,127.01 Ft | |
| Taxi Start (Normal Tariff) | 2,201.95 Ft | |
| Taxi 1 mile (Normal Tariff) | 1,453.36 Ft | |
| Taxi 1hour Waiting (Normal Tariff) | 29,851.70 Ft | |
| Gasoline (1 gallon) | 3,288.00 Ft | |
| Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) | 16,417,043.33 Ft | |
| Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) | 18,581,826.06 Ft | |
Utilities (Monthly) | Edit |
|
| Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment | 31,170.71 Ft | |
| Mobile Phone Monthly Plan with Calls and 10GB+ Data | 9,561.34 Ft | |
| Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) | 30,056.49 Ft | |
Sports And Leisure | Edit |
|
| Fitness Club, Monthly Fee for 1 Adult | 27,742.24 Ft | |
| Tennis Court Rent (1 Hour on Weekend) | 13,007.28 Ft | |
| Cinema, International Release, 1 Seat | 6,104.13 Ft | |
Childcare | Edit |
|
| Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child | 121,609.60 Ft | |
| International Primary School, Yearly for 1 Child | 10,436,375.76 Ft | |
Clothing And Shoes | Edit |
|
| 1 Pair of Jeans (Levis 501 Or Similar) | 48,003.42 Ft | |
| 1 Summer Dress in a Chain Store (Zara, H&M, ...) | 22,061.27 Ft | |
| 1 Pair of Nike Running Shoes (Mid-Range) | 60,530.30 Ft | |
| 1 Pair of Men Leather Business Shoes | 88,025.59 Ft | |
Rent Per Month | Edit |
|
| Apartment (1 bedroom) in City Centre | 766,500.33 Ft | |
| Apartment (1 bedroom) Outside of Centre | 692,173.02 Ft | |
| Apartment (3 bedrooms) in City Centre | 1,098,078.72 Ft | |
| Apartment (3 bedrooms) Outside of Centre | 942,305.05 Ft | |
Buy Apartment Price | Edit |
|
| Price per Square Feet to Buy Apartment in City Centre | 240,737.22 Ft | |
| Price per Square Feet to Buy Apartment Outside of Centre | 204,343.00 Ft | |
Salaries And Financing | Edit |
|
| Average Monthly Net Salary (After Tax) | 1,571,947.31 Ft | |
| 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
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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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