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Cost of Living in Iceland

Cost of living in Iceland is 64.13% higher than in United States (aggregate data for all cities, rent is not taken into account). Rent in Iceland is 33.34% higher than in United States (average data for all cities).
Restaurants [ Edit ] Range
Meal, Inexpensive Restaurant 20.79 $ 17.95-25.98
Meal for 2 People, Mid-range Restaurant, Three-course 113.39 $ 75.59-141.74
McMeal at McDonalds (or Equivalent Combo Meal) 15.07 $ 14.17-18.24
Domestic Beer (1 pint draught) 10.39 $ 9.45-11.34
Imported Beer (11.2 oz small bottle) 9.45 $ 7.56-11.34
Cappuccino (regular) 5.04 $ 4.25-5.94
Coke/Pepsi (11.2 oz small bottle) 2.74 $ 1.70-3.78
Water (11.2 oz small bottle) 2.04 $ 1.13-2.83
Markets [ Edit ]
Milk (regular), (1 gallon) 5.34 $ 4.49-6.44
Loaf of Fresh White Bread (1 lb) 2.96 $ 2.14-3.43
Rice (white), (1 lb) 1.64 $ 1.11-2.57
Eggs (regular) (12) 5.90 $ 4.54-6.80
Local Cheese (1 lb) 7.09 $ 5.79-8.57
Chicken Breasts (Boneless, Skinless), (1 lb) 9.07 $ 6.43-11.66
Beef Round (1 lb) (or Equivalent Back Leg Red Meat) 13.35 $ 8.56-20.44
Apples (1 lb) 1.38 $ 0.85-2.14
Banana (1 lb) 1.29 $ 1.07-1.77
Oranges (1 lb) 1.40 $ 1.03-1.71
Tomato (1 lb) 2.15 $ 1.29-3.00
Potato (1 lb) 1.19 $ 0.86-1.58
Onion (1 lb) 0.77 $ 0.45-1.29
Lettuce (1 head) 3.12 $ 1.89-3.78
Water (1.5 liter bottle) 2.29 $ 1.61-3.31
Bottle of Wine (Mid-Range) 22.68 $ 17.01-28.35
Domestic Beer (0.5 liter bottle) 3.60 $ 2.83-4.35
Imported Beer (11.2 oz small bottle) 3.30 $ 2.83-4.25
Pack of Cigarettes (Marlboro) 12.28 $ 11.34-14.17
Transportation [ Edit ]
One-way Ticket (Local Transport) 4.16 $ 3.97-4.25
Monthly Pass (Regular Price) 111.03 $ 106.77-111.03
Taxi Start (Normal Tariff) 6.52 $ 6.52-7.46
Taxi 1 mile (Normal Tariff) 4.56 $ 3.47-5.03
Taxi 1hour Waiting (Normal Tariff) 70.30 $ 70.30-75.59
Gasoline (1 gallon) 7.00 $ 6.72-7.19
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) 30,945.69 $ 29,197.61-32,599.27
Toyota Corolla 1.6l 97kW Comfort (Or Equivalent New Car) 34,314.28 $ 30,048.02-37,512.78
Utilities (Monthly) [ Edit ]
Basic (Electricity, Heating, Water, Garbage) for 915 sq ft Apartment 117.96 $ 58.41-188.98
1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) 0.19 $ 0.14-0.22
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) 61.24 $ 37.70-85.04
Sports And Leisure [ Edit ]
Fitness Club, Monthly Fee for 1 Adult 73.58 $ 56.69-132.19
Tennis Court Rent (1 Hour on Weekend) 28.00 $ 14.17-37.80
Cinema, International Release, 1 Seat 13.70 $ 12.28-14.55
Childcare [ Edit ]
Preschool (or Kindergarten), Private, Monthly for 1 Child 349.15 $ 259.35-472.45
International Primary School, Yearly for 1 Child 22,677.75 $ 22,677.75-22,677.75
Clothing And Shoes [ Edit ]
1 Pair of Jeans (Levis 501 Or Similar) 154.15 $ 94.49-188.98
1 Summer Dress in a Chain Store (Zara, H&M, ...) 87.10 $ 56.65-121.89
1 Pair of Nike Running Shoes (Mid-Range) 182.00 $ 141.74-226.78
1 Pair of Men Leather Business Shoes 240.44 $ 188.98-311.77
Rent Per Month [ Edit ]
Apartment (1 bedroom) in City Centre 1,563.77 $ 944.91-1,984.30
Apartment (1 bedroom) Outside of Centre 1,231.14 $ 850.42-1,653.59
Apartment (3 bedrooms) in City Centre 2,513.95 $ 1,700.83-2,834.72
Apartment (3 bedrooms) Outside of Centre 2,086.06 $ 1,481.63-2,456.76
Buy Apartment Price [ Edit ]
Price per Square Feet to Buy Apartment in City Centre 452.60 $ 351.14-570.60
Price per Square Feet to Buy Apartment Outside of Centre 319.09 $ 263.35-395.03
Salaries And Financing [ Edit ]
Average Monthly Net Salary (After Tax) 2,912.86 $
Mortgage Interest Rate in Percentages (%), Yearly 6.72 0.05-0.07

Prices in Iceland

These data are based on 2560 entries in the past 18 months from 267 different contributors.
Last update: August 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, Borgarnes, Dalvik, Drangsnes, Egilsstadir, Eidar, ... Update information for Iceland!