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Cost of Living in Iceland

Cost of living in Iceland is 56.38% higher than in United States (aggregate data for all cities, rent is not taken into account). Rent in Iceland is 21.30% higher than in United States (average data for all cities).
Restaurants [ Edit ] Avg. Range
Meal, Inexpensive Restaurant 2,145.00 kr 1,700.00-2,815.00
Meal for 2 People, Mid-range Restaurant, Three-course 12,000.00 kr 8,990.00-15,000.00
McMeal at McDonalds (or Equivalent Combo Meal) 1,600.00 kr 1,400.00-2,000.00
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) 535.74 kr 450.00-650.00
Coke/Pepsi (11.2 oz small bottle) 293.05 kr 180.00-400.00
Water (11.2 oz small bottle) 212.83 kr 120.00-300.00
Markets [ Edit ] Avg.
Milk (regular), (1 gallon) 558.70 kr 469.39-847.93
Loaf of Fresh White Bread (1 lb) 277.12 kr 215.46-362.87
Rice (white), (1 lb) 174.00 kr 113.40-272.16
Eggs (12) 629.39 kr 450.00-750.00
Local Cheese (1 lb) 701.45 kr 544.31-816.47
Chicken Breasts (Boneless, Skinless), (1 lb) 971.49 kr 725.75-1,233.77
Beef Round (1 lb) (or Equivalent Back Leg Red Meat) 1,289.23 kr 907.19-1,722.75
Apples (1 lb) 158.26 kr 108.86-226.80
Banana (1 lb) 155.82 kr 122.02-224.53
Oranges (1 lb) 156.13 kr 113.90-181.44
Tomato (1 lb) 216.09 kr 127.01-317.52
Potato (1 lb) 128.87 kr 90.72-167.38
Onion (1 lb) 94.97 kr 48.53-140.61
Lettuce (1 head) 339.62 kr 226.41-400.00
Water (1.5 liter bottle) 224.28 kr 169.00-300.00
Bottle of Wine (Mid-Range) 2,300.00 kr 1,800.00-3,000.00
Domestic Beer (0.5 liter bottle) 361.08 kr 300.00-450.00
Imported Beer (11.2 oz small bottle) 343.23 kr 290.00-400.00
Pack of Cigarettes (Marlboro) 1,300.00 kr 1,200.00-1,500.00
Transportation [ Edit ] Avg.
One-way Ticket (Local Transport) 420.00 kr 400.00-450.00
Monthly Pass (Regular Price) 11,300.00 kr 10,900.00-11,700.00
Taxi Start (Normal Tariff) 690.00 kr 660.00-890.00
Taxi 1 mile (Normal Tariff) 423.26 kr 366.93-502.12
Taxi 1hour Waiting (Normal Tariff) 7,440.00 kr 6,674.00-8,000.00
Gasoline (1 gallon) 737.56 kr 711.66-762.38
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) 3,280,000.00 kr 3,100,000.00-3,500,000.00
Toyota Corolla 1.6l 97kW Comfort (Or Equivalent New Car) 3,774,000.00 kr 3,180,000.00-3,990,000.00
Utilities (Monthly) [ Edit ] Avg.
Basic (Electricity, Heating, Water, Garbage) for 915 sq ft Apartment 11,099.35 kr 6,181.82-16,000.00
1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) 19.64 kr 10.00-23.00
Internet (10 Mbps, Unlimited Data, Cable/ADSL) 6,702.63 kr 4,400.00-9,000.00
Sports And Leisure [ Edit ] Avg.
Fitness Club, Monthly Fee for 1 Adult 7,574.95 kr 5,800.00-12,490.00
Tennis Court Rent (1 Hour on Weekend) 3,137.87 kr 2,000.00-5,000.00
Cinema, International Release, 1 Seat 1,400.00 kr 1,200.00-1,500.00
Childcare [ Edit ] Avg.
Preschool (or Kindergarten), Private, Monthly for 1 Child 43,427.50 kr 40,000.00-46,855.00
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) 17,595.14 kr 12,000.00-20,000.00
1 Summer Dress in a Chain Store (Zara, H&M, ...) 9,853.18 kr 7,000.00-14,000.00
1 Pair of Nike Running Shoes (Mid-Range) 21,565.19 kr 16,000.00-25,000.00
1 Pair of Men Leather Business Shoes 25,416.70 kr 20,000.00-30,000.00
Rent Per Month [ Edit ] Avg.
Apartment (1 bedroom) in City Centre 155,114.69 kr 90,000.00-200,000.00
Apartment (1 bedroom) Outside of Centre 118,607.87 kr 70,000.00-160,000.00
Apartment (3 bedrooms) in City Centre 259,120.00 kr 190,000.00-300,000.00
Apartment (3 bedrooms) Outside of Centre 204,903.09 kr 138,187.50-250,000.00
Buy Apartment Price [ Edit ] Avg.
Price per Square Feet to Buy Apartment in City Centre 39,906.68 kr 31,586.77-51,096.25
Price per Square Feet to Buy Apartment Outside of Centre 29,281.11 kr 23,225.57-37,160.91
Salaries And Financing [ Edit ] Avg.
Average Monthly Disposable Salary (Net After Tax) 283,606.95 kr
Mortgage Interest Rate in Percentages (%), Yearly 7.09 5.85-8.00

Prices in Iceland

These data are based on 2290 entries in the past 18 months from 240 different contributors.
Last update: February, 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!