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Cost of Living in Iceland

Cost of living in Iceland is 72.23% higher than in United States (aggregate data for all cities, rent is not taken into account). Rent in Iceland is 39.76% higher than in United States (average data for all cities).
Restaurants [ Edit ] Avg. Range
Meal, Inexpensive Restaurant 2,200.00 kr 1,900.00-2,807.31
Meal for 2 People, Mid-range Restaurant, Three-course 12,000.00 kr 8,900.00-15,000.00
McMeal at McDonalds (or Equivalent Combo Meal) 1,600.00 kr 1,500.00-1,930.00
Domestic Beer (1 pint draught) 1,100.00 kr 1,000.00-1,200.00
Imported Beer (11.2 oz small bottle) 1,000.00 kr 750.00-1,200.00
Cappuccino (regular) 536.94 kr 450.00-630.00
Coke/Pepsi (11.2 oz small bottle) 291.27 kr 200.00-400.00
Water (11.2 oz small bottle) 210.32 kr 120.00-300.00
Markets [ Edit ] Avg.
Milk (regular), (1 gallon) 563.08 kr 454.25-798.72
Loaf of Fresh White Bread (1 lb) 296.70 kr 221.81-362.87
Rice (white), (1 lb) 170.34 kr 117.93-230.88
Eggs (12) 621.64 kr 450.00-720.00
Local Cheese (1 lb) 720.80 kr 544.31-859.56
Chicken Breasts (Boneless, Skinless), (1 lb) 951.19 kr 680.39-1,233.77
Beef Round (1 lb) (or Equivalent Back Leg Red Meat) 1,307.28 kr 861.83-1,769.01
Apples (1 lb) 147.01 kr 89.81-226.80
Banana (1 lb) 144.87 kr 113.40-224.53
Oranges (1 lb) 149.23 kr 108.17-181.44
Tomato (1 lb) 218.78 kr 131.54-317.52
Potato (1 lb) 126.50 kr 90.72-167.38
Onion (1 lb) 86.62 kr 49.44-136.08
Lettuce (1 head) 322.17 kr 200.00-400.00
Water (1.5 liter bottle) 234.63 kr 169.00-350.00
Bottle of Wine (Mid-Range) 2,250.00 kr 1,800.00-3,000.00
Domestic Beer (0.5 liter bottle) 364.70 kr 300.00-450.00
Imported Beer (11.2 oz small bottle) 338.05 kr 270.00-400.00
Pack of Cigarettes (Marlboro) 1,300.00 kr 1,200.00-1,460.00
Transportation [ Edit ] Avg.
One-way Ticket (Local Transport) 420.00 kr 420.00-450.00
Monthly Pass (Regular Price) 11,700.00 kr 11,000.00-11,750.00
Taxi Start (Normal Tariff) 690.00 kr 660.00-790.00
Taxi 1 mile (Normal Tariff) 450.62 kr 366.93-527.86
Taxi 1hour Waiting (Normal Tariff) 7,440.00 kr 7,020.00-8,000.00
Gasoline (1 gallon) 745.98 kr 719.23-772.22
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) 3,200,000.00 kr 3,090,000.00-3,440,000.00
Toyota Corolla 1.6l 97kW Comfort (Or Equivalent New Car) 3,710,526.32 kr 3,180,000.00-3,990,000.00
Utilities (Monthly) [ Edit ] Avg.
Basic (Electricity, Heating, Water, Garbage) for 915 sq ft Apartment 11,677.36 kr 6,181.82-20,000.00
1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) 20.33 kr 15.00-23.00
Internet (10 Mbps, Unlimited Data, Cable/ADSL) 6,436.03 kr 3,990.00-9,000.00
Sports And Leisure [ Edit ] Avg.
Fitness Club, Monthly Fee for 1 Adult 7,734.09 kr 6,000.00-13,990.00
Tennis Court Rent (1 Hour on Weekend) 3,021.72 kr 2,000.00-4,000.00
Cinema, International Release, 1 Seat 1,450.00 kr 1,300.00-1,540.00
Childcare [ Edit ] Avg.
Preschool (or Kindergarten), Private, Monthly for 1 Child 42,963.75 kr 35,000.00-50,000.00
International Primary School, Yearly for 1 Child 2,400,000.00 kr 2,400,000.00-2,400,000.00
Clothing And Shoes [ Edit ] Avg.
1 Pair of Jeans (Levis 501 Or Similar) 17,050.28 kr 12,000.00-20,000.00
1 Summer Dress in a Chain Store (Zara, H&M, ...) 9,299.13 kr 5,995.00-14,000.00
1 Pair of Nike Running Shoes (Mid-Range) 19,633.10 kr 15,000.00-24,000.00
1 Pair of Men Leather Business Shoes 24,399.58 kr 17,990.00-30,000.00
Rent Per Month [ Edit ] Avg.
Apartment (1 bedroom) in City Centre 160,917.22 kr 95,000.00-200,000.00
Apartment (1 bedroom) Outside of Centre 128,209.72 kr 80,000.00-170,000.00
Apartment (3 bedrooms) in City Centre 263,636.36 kr 180,000.00-300,000.00
Apartment (3 bedrooms) Outside of Centre 213,714.29 kr 125,550.00-250,000.00
Buy Apartment Price [ Edit ] Avg.
Price per Square Feet to Buy Apartment in City Centre 45,060.18 kr 37,160.91-55,741.36
Price per Square Feet to Buy Apartment Outside of Centre 32,136.97 kr 25,641.03-37,160.91
Salaries And Financing [ Edit ] Avg.
Average Monthly Net Salary (After Tax) 291,650.05 kr
Mortgage Interest Rate in Percentages (%), Yearly 6.92 5.00-8.00

Prices in Iceland

These data are based on 2450 entries in the past 18 months from 263 different contributors.
Last update: May 2017
Our data for each country are based on all entries from all cities in that country.
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More about Iceland: Cost of Living | Crime | Climate | Food Prices | Gas Prices | Health Care | Pollution | Property Prices | Quality of Life | Taxi Fare | Traffic

Cost of Living in this country for some cities: Akureyri, Reykjavik

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