Cost of Living in Iceland
Summary of cost of living in Iceland:
- A family of four estimated monthly costs are 1,707,341.6Ft (660,435.4kr) without rent.
- A single person estimated monthly costs are 461,754.9Ft (178,616.4kr) without rent.
- Cost of living in Iceland is, on average, 16.6% higher than in United States.
- Rent in Iceland is, on average, 7.7% lower than in United States.
Restaurants |  Edit |
Range |
|---|---|---|
| Meal, Inexpensive Restaurant | 7,755.53 Ft | |
| Meal for 2 People, Mid-range Restaurant, Three-course | 41,362.81 Ft | |
| McMeal at McDonalds (or Equivalent Combo Meal) | 5,944.61 Ft | |
| Domestic Beer (1 pint draught) | 3,742.04 Ft | |
| Imported Beer (12 oz small bottle) | 3,102.21 Ft | |
| Cappuccino (regular) | 1,768.96 Ft | |
| Coke/Pepsi (12 oz small bottle) | 1,015.75 Ft | |
| Water (12 oz small bottle) | 764.17 Ft | |
Markets | Edit |
|
| Milk (regular), (1 gallon) | 2,200.91 Ft | |
| Loaf of Fresh White Bread (1 lb) | 1,127.21 Ft | |
| Rice (white), (1 lb) | 518.81 Ft | |
| Eggs (regular) (12) | 2,067.18 Ft | |
| Local Cheese (1 lb) | 2,383.96 Ft | |
| Chicken Fillets (1 lb) | 3,035.00 Ft | |
| Beef Round (1 lb) (or Equivalent Back Leg Red Meat) | 5,027.95 Ft | |
| Apples (1 lb) | 509.30 Ft | |
| Banana (1 lb) | 359.75 Ft | |
| Oranges (1 lb) | 442.58 Ft | |
| Tomato (1 lb) | 756.49 Ft | |
| Potato (1 lb) | 498.31 Ft | |
| Onion (1 lb) | 311.14 Ft | |
| Lettuce (1 head) | 1,121.97 Ft | |
| Water (1.5 liter bottle) | 758.99 Ft | |
| Bottle of Wine (Mid-Range) | 7,109.23 Ft | |
| Domestic Beer (0.5 liter bottle) | 1,136.70 Ft | |
| Imported Beer (12 oz small bottle) | 955.44 Ft | |
| Cigarettes 20 Pack (Marlboro) | 4,136.28 Ft | |
Transportation | Edit |
|
| One-way Ticket (Local Transport) | 1,473.55 Ft | |
| Monthly Pass (Regular Price) | 24,042.14 Ft | |
| Taxi Start (Normal Tariff) | 1,887.18 Ft | |
| Taxi 1 mile (Normal Tariff) | 1,260.61 Ft | |
| Taxi 1hour Waiting (Normal Tariff) | 24,197.25 Ft | |
| Gasoline (1 gallon) | 3,047.37 Ft | |
| Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) | 13,675,580.26 Ft | |
| Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) | 14,929,175.12 Ft | |
Utilities (Monthly) | Edit |
|
| Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment | 38,164.36 Ft | |
| Mobile Phone Monthly Plan with Calls and 10GB+ Data | 8,584.14 Ft | |
| Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) | 25,504.65 Ft | |
Sports And Leisure | Edit |
|
| Fitness Club, Monthly Fee for 1 Adult | 22,917.94 Ft | |
| Tennis Court Rent (1 Hour on Weekend) | 10,982.69 Ft | |
| Cinema, International Release, 1 Seat | 5,170.35 Ft | |
Childcare | Edit |
|
| Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child | 94,781.76 Ft | |
| International Primary School, Yearly for 1 Child | 2,006,742.76 Ft | |
Clothing And Shoes | Edit |
|
| 1 Pair of Jeans (Levis 501 Or Similar) | 41,428.24 Ft | |
| 1 Summer Dress in a Chain Store (Zara, H&M, ...) | 17,998.27 Ft | |
| 1 Pair of Nike Running Shoes (Mid-Range) | 54,357.63 Ft | |
| 1 Pair of Men Leather Business Shoes | 62,274.42 Ft | |
Rent Per Month | Edit |
|
| Apartment (1 bedroom) in City Centre | 627,427.57 Ft | |
| Apartment (1 bedroom) Outside of Centre | 558,574.43 Ft | |
| Apartment (3 bedrooms) in City Centre | 881,734.12 Ft | |
| Apartment (3 bedrooms) Outside of Centre | 798,609.73 Ft | |
Buy Apartment Price | Edit |
|
| Price per Square Feet to Buy Apartment in City Centre | 191,234.32 Ft | |
| Price per Square Feet to Buy Apartment Outside of Centre | 155,224.92 Ft | |
Salaries And Financing | Edit |
|
| Average Monthly Net Salary (After Tax) | 1,509,150.02 Ft | |
| Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate | 7.37 |
Prices in Iceland
This country had 1426 entries in the past 12 months by 199 different contributors.
Last update: April 2024
Our data for each country are based on all entries from all cities in that country.
Last update: April 2024
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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