Cost of Living in Iceland
Summary of cost of living in Iceland:
- A family of four estimated monthly costs are 6,515,616.0₩ (662,171.3kr) without rent.
- A single person estimated monthly costs are 1,761,866.5₩ (179,055.6kr) without rent.
- Cost of living in Iceland is, on average, 16.4% higher than in United States.
- Rent in Iceland is, on average, 8.6% lower than in United States.
Restaurants |  Edit |
Range |
|---|---|---|
| Meal, Inexpensive Restaurant | 29,519.32 ₩ | |
| Meal for 2 People, Mid-range Restaurant, Three-course | 161,360.49 ₩ | |
| McMeal at McDonalds (or Equivalent Combo Meal) | 22,621.64 ₩ | |
| Domestic Beer (1 pint draught) | 13,775.68 ₩ | |
| Imported Beer (12 oz small bottle) | 11,807.73 ₩ | |
| Cappuccino (regular) | 6,660.05 ₩ | |
| Coke/Pepsi (12 oz small bottle) | 3,857.39 ₩ | |
| Water (12 oz small bottle) | 2,860.00 ₩ | |
Markets | Edit |
|
| Milk (regular), (1 gallon) | 8,287.16 ₩ | |
| Loaf of Fresh White Bread (1 lb) | 4,290.42 ₩ | |
| Rice (white), (1 lb) | 1,952.96 ₩ | |
| Eggs (regular) (12) | 7,827.49 ₩ | |
| Local Cheese (1 lb) | 9,017.06 ₩ | |
| Chicken Fillets (1 lb) | 11,455.35 ₩ | |
| Beef Round (1 lb) (or Equivalent Back Leg Red Meat) | 19,137.53 ₩ | |
| Apples (1 lb) | 1,938.56 ₩ | |
| Banana (1 lb) | 1,360.93 ₩ | |
| Oranges (1 lb) | 1,684.64 ₩ | |
| Tomato (1 lb) | 2,879.39 ₩ | |
| Potato (1 lb) | 1,896.72 ₩ | |
| Onion (1 lb) | 1,184.35 ₩ | |
| Lettuce (1 head) | 4,270.46 ₩ | |
| Water (1.5 liter bottle) | 2,889.25 ₩ | |
| Bottle of Wine (Mid-Range) | 27,059.38 ₩ | |
| Domestic Beer (0.5 liter bottle) | 4,326.55 ₩ | |
| Imported Beer (12 oz small bottle) | 3,636.62 ₩ | |
| Cigarettes 20 Pack (Marlboro) | 15,743.64 ₩ | |
Transportation | Edit |
|
| One-way Ticket (Local Transport) | 5,608.67 ₩ | |
| Monthly Pass (Regular Price) | 91,509.90 ₩ | |
| Taxi Start (Normal Tariff) | 7,183.04 ₩ | |
| Taxi 1 mile (Normal Tariff) | 5,130.73 ₩ | |
| Taxi 1hour Waiting (Normal Tariff) | 92,100.29 ₩ | |
| Gasoline (1 gallon) | 11,574.66 ₩ | |
| Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) | 51,117,628.32 ₩ | |
| Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) | 57,618,205.04 ₩ | |
Utilities (Monthly) | Edit |
|
| Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment | 145,309.95 ₩ | |
| Mobile Phone Monthly Plan with Calls and 10GB+ Data | 32,673.23 ₩ | |
| Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) | 97,060.33 ₩ | |
Sports And Leisure | Edit |
|
| Fitness Club, Monthly Fee for 1 Adult | 87,230.96 ₩ | |
| Tennis Court Rent (1 Hour on Weekend) | 41,802.64 ₩ | |
| Cinema, International Release, 1 Seat | 19,679.55 ₩ | |
Childcare | Edit |
|
| Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child | 369,370.99 ₩ | |
| International Primary School, Yearly for 1 Child | 7,638,124.93 ₩ | |
Clothing And Shoes | Edit |
|
| 1 Pair of Jeans (Levis 501 Or Similar) | 159,539.83 ₩ | |
| 1 Summer Dress in a Chain Store (Zara, H&M, ...) | 69,800.25 ₩ | |
| 1 Pair of Nike Running Shoes (Mid-Range) | 206,571.78 ₩ | |
| 1 Pair of Men Leather Business Shoes | 244,594.43 ₩ | |
Rent Per Month | Edit |
|
| Apartment (1 bedroom) in City Centre | 2,388,248.49 ₩ | |
| Apartment (1 bedroom) Outside of Centre | 2,125,981.86 ₩ | |
| Apartment (3 bedrooms) in City Centre | 3,356,083.07 ₩ | |
| Apartment (3 bedrooms) Outside of Centre | 3,040,490.31 ₩ | |
Buy Apartment Price | Edit |
|
| Price per Square Feet to Buy Apartment in City Centre | 733,358.78 ₩ | |
| Price per Square Feet to Buy Apartment Outside of Centre | 593,044.72 ₩ | |
Salaries And Financing | Edit |
|
| Average Monthly Net Salary (After Tax) | 5,698,271.10 ₩ | |
| Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate | 7.37 |
Prices in Iceland
This country had 1424 entries in the past 12 months by 198 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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