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Cost of Living in Iceland

Cost of living in Iceland is 41.43% higher than in United States (aggregate data for all cities, rent is not taken into account). Rent in Iceland is 19.65% higher than in United States (average data for all cities).
Restaurants [ Edit ] Range
Meal, Inexpensive Restaurant 19.46 $ 13.79-24.33
Meal for 2 People, Mid-range Restaurant, Three-course 89.21 $ 59.22-121.65
McMeal at McDonalds (or Equivalent Combo Meal) 12.36 $ 11.35-14.60
Domestic Beer (1 pint draught) 8.92 $ 8.11-9.73
Imported Beer (12 oz small bottle) 8.11 $ 6.49-9.73
Cappuccino (regular) 4.33 $ 3.65-5.27
Coke/Pepsi (12 oz small bottle) 2.43 $ 1.62-3.65
Water (12 oz small bottle) 2.00 $ 1.22-2.84
Markets [ Edit ]
Milk (regular), (1 gallon) 4.75 $ 4.30-5.53
Loaf of Fresh White Bread (1 lb) 2.61 $ 1.91-2.94
Rice (white), (1 lb) 1.28 $ 0.92-1.97
Eggs (regular) (12) 4.96 $ 4.06-5.68
Local Cheese (1 lb) 6.43 $ 5.33-7.73
Chicken Breasts (Boneless, Skinless), (1 lb) 7.54 $ 5.89-9.20
Beef Round (1 lb) (or Equivalent Back Leg Red Meat) 10.84 $ 6.99-14.35
Apples (1 lb) 1.15 $ 0.73-1.84
Banana (1 lb) 0.97 $ 0.74-1.48
Oranges (1 lb) 1.18 $ 0.92-1.48
Tomato (1 lb) 1.85 $ 1.10-2.58
Potato (1 lb) 0.95 $ 0.74-1.10
Onion (1 lb) 0.69 $ 0.29-1.10
Lettuce (1 head) 2.37 $ 1.22-3.24
Water (1.5 liter bottle) 1.86 $ 0.98-2.51
Bottle of Wine (Mid-Range) 20.28 $ 16.22-24.33
Domestic Beer (0.5 liter bottle) 2.80 $ 2.34-3.24
Imported Beer (12 oz small bottle) 2.77 $ 2.27-3.41
Cigarettes 20 Pack (Marlboro) 10.54 $ 9.73-12.17
Transportation [ Edit ]
One-way Ticket (Local Transport) 3.73 $ 3.57-3.73
Monthly Pass (Regular Price) 99.76 $ 95.30-99.76
Taxi Start (Normal Tariff) 5.60 $ 5.60-6.49
Taxi 1 mile (Normal Tariff) 4.06 $ 3.16-5.76
Taxi 1hour Waiting (Normal Tariff) 60.34 $ 60.34-81.10
Gasoline (1 gallon) 6.70 $ 6.14-7.06
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) 27,575.02 $ 26,358.48-29,602.60
Toyota Corolla 1.6l 97kW Comfort (Or Equivalent New Car) 29,662.54 $ 25,790.76-33,414.44
Utilities (Monthly) [ Edit ]
Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment 100.29 $ 61.68-170.32
1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) 0.17 $ 0.12-0.20
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) 57.30 $ 37.23-81.10
Sports And Leisure [ Edit ]
Fitness Club, Monthly Fee for 1 Adult 59.01 $ 52.72-92.70
Tennis Court Rent (1 Hour on Weekend) 31.98 $ 20.28-47.85
Cinema, International Release, 1 Seat 12.17 $ 11.35-12.98
Childcare [ Edit ]
Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child 280.21 $ 227.09-340.63
International Primary School, Yearly for 1 Child 19,464.72 $ 19,464.72-19,464.72
Clothing And Shoes [ Edit ]
1 Pair of Jeans (Levis 501 Or Similar) 113.10 $ 64.88-161.39
1 Summer Dress in a Chain Store (Zara, H&M, ...) 60.19 $ 36.50-121.65
1 Pair of Nike Running Shoes (Mid-Range) 147.14 $ 104.62-202.76
1 Pair of Men Leather Business Shoes 193.77 $ 145.94-283.86
Rent Per Month [ Edit ]
Apartment (1 bedroom) in City Centre 1,500.41 $ 1,135.44-2,027.58
Apartment (1 bedroom) Outside of Centre 1,234.63 $ 811.03-1,622.06
Apartment (3 bedrooms) in City Centre 2,328.82 $ 1,784.27-2,838.61
Apartment (3 bedrooms) Outside of Centre 1,892.98 $ 1,500.41-2,311.44
Buy Apartment Price [ Edit ]
Price per Square Feet to Buy Apartment in City Centre 415.47 $ 341.77-489.75
Price per Square Feet to Buy Apartment Outside of Centre 317.59 $ 263.71-376.73
Salaries And Financing [ Edit ]
Average Monthly Net Salary (After Tax) 2,974.68 $
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 6.36 0.04-0.06

Prices in Iceland

These data are based on 2864 entries in the past 18 months from 372 different contributors.
Last update: December 2018
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!