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Cost of Living in Iceland

Cost of living in Iceland is 39.48% higher than in United States (aggregate data for all cities, rent is not taken into account). Rent in Iceland is 14.51% higher than in United States (average data for all cities).
Restaurants [ Edit ] Range
Meal, Inexpensive Restaurant 2,500.00 kr 1,700.00-3,500.00
Meal for 2 People, Mid-range Restaurant, Three-course 12,750.00 kr 9,000.00-18,000.00
McMeal at McDonalds (or Equivalent Combo Meal) 1,600.00 kr 1,496.28-2,000.00
Domestic Beer (1 pint draught) 1,200.00 kr 1,000.00-1,250.00
Imported Beer (12 oz small bottle) 1,000.00 kr 800.00-1,300.00
Cappuccino (regular) 561.52 kr 419.00-650.00
Coke/Pepsi (12 oz small bottle) 320.62 kr 162.19-500.00
Water (12 oz small bottle) 258.20 kr 150.00-350.00
Markets [ Edit ]
Milk (regular), (1 gallon) 622.74 kr 567.81-757.08
Loaf of Fresh White Bread (1 lb) 321.42 kr 249.38-408.23
Rice (white), (1 lb) 162.63 kr 113.40-258.09
Eggs (regular) (12) 640.81 kr 500.00-769.78
Local Cheese (1 lb) 748.56 kr 589.67-952.55
Chicken Breasts (Boneless, Skinless), (1 lb) 911.99 kr 771.11-1,111.30
Beef Round (1 lb) (or Equivalent Back Leg Red Meat) 1,402.09 kr 907.19-2,222.61
Apples (1 lb) 138.75 kr 104.33-180.98
Banana (1 lb) 107.40 kr 90.72-167.38
Oranges (1 lb) 137.85 kr 113.40-187.04
Tomato (1 lb) 229.96 kr 158.76-344.73
Potato (1 lb) 127.15 kr 90.72-180.98
Onion (1 lb) 97.65 kr 44.45-154.22
Lettuce (1 head) 298.09 kr 187.04-398.00
Water (1.5 liter bottle) 223.40 kr 124.69-300.00
Bottle of Wine (Mid-Range) 2,500.00 kr 2,000.00-3,740.70
Domestic Beer (0.5 liter bottle) 337.51 kr 289.00-400.00
Imported Beer (12 oz small bottle) 342.67 kr 300.00-436.42
Cigarettes 20 Pack (Marlboro) 1,399.00 kr 1,300.00-1,600.00
Transportation [ Edit ]
One-way Ticket (Local Transport) 470.00 kr 450.00-470.00
Monthly Pass (Regular Price) 12,800.00 kr 11,000.00-12,800.00
Taxi Start (Normal Tariff) 695.00 kr 690.00-800.00
Taxi 1 mile (Normal Tariff) 482.80 kr 389.46-643.74
Taxi 1hour Waiting (Normal Tariff) 7,920.00 kr 7,440.00-8,340.00
Gasoline (1 gallon) 847.29 kr 768.44-906.23
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) 3,590,000.00 kr 3,390,000.00-4,190,000.00
Toyota Corolla 1.6l 97kW Comfort (Or Equivalent New Car) 4,104,166.67 kr 3,300,000.00-4,570,000.00
Utilities (Monthly) [ Edit ]
Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment 12,269.43 kr 6,538.46-19,833.33
1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) 21.88 kr 15.00-36.00
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) 8,273.92 kr 6,000.00-11,000.00
Sports And Leisure [ Edit ]
Fitness Club, Monthly Fee for 1 Adult 7,479.69 kr 6,250.00-11,430.00
Tennis Court Rent (1 Hour on Weekend) 4,290.91 kr 3,000.00-9,000.00
Cinema, International Release, 1 Seat 1,590.00 kr 1,450.00-1,700.00
Childcare [ Edit ]
Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child 34,520.89 kr 25,234.00-45,000.00
International Primary School, Yearly for 1 Child 733,714.29 kr 252,000.00-1,200,000.00
Clothing And Shoes [ Edit ]
1 Pair of Jeans (Levis 501 Or Similar) 14,979.76 kr 10,000.00-19,000.00
1 Summer Dress in a Chain Store (Zara, H&M, ...) 6,730.76 kr 4,000.00-12,000.00
1 Pair of Nike Running Shoes (Mid-Range) 17,738.30 kr 12,000.00-25,000.00
1 Pair of Men Leather Business Shoes 22,830.51 kr 15,000.00-34,000.00
Rent Per Month [ Edit ]
Apartment (1 bedroom) in City Centre 182,723.40 kr 125,000.00-250,000.00
Apartment (1 bedroom) Outside of Centre 150,646.72 kr 100,000.00-200,000.00
Apartment (3 bedrooms) in City Centre 289,977.78 kr 220,000.00-400,000.00
Apartment (3 bedrooms) Outside of Centre 246,186.05 kr 190,000.00-300,000.00
Buy Apartment Price [ Edit ]
Price per Square Feet to Buy Apartment in City Centre 54,445.64 kr 39,947.97-71,999.26
Price per Square Feet to Buy Apartment Outside of Centre 40,858.29 kr 32,515.79-55,741.36
Salaries And Financing [ Edit ]
Average Monthly Net Salary (After Tax) 380,460.31 kr
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 6.30 5.00-7.20

Prices in Iceland

These data are based on 2808 entries in the past 18 months from 339 different contributors.
Last update: January 2020
Our data for each country are based on all entries from all cities in that country.
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DeutschLebenshaltungskosten in Island
PortuguêsCusto de Vida na Islândia
ItalianoCosto della Vita in Islanda
FrançaisCoût de la Vie en Islande
EspañolCosto de Vida en Islandia

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Cost of Living in this country for some cities: Reykjavik

We would like to gather more data for: Akranes, Bakkafjordur, Bildudalur, Blonduos, Bolungarvik, Bordeyri, Borgarnes, Dalvik, Drangsnes, Egilsstadir, Eidar, ... Update information for Iceland!