Cost of Living in Iceland
Summary of cost of living in Iceland:
- A family of four estimated monthly costs are 5,026.9$ (709,512.3kr) without rent.
- A single person estimated monthly costs are 1,343.7$ (189,658.3kr) without rent.
- Cost of living in Iceland is, on average, 26.5% higher than in United States.
- Rent in Iceland is, on average, 5.0% higher than in United States.
Restaurants |  Edit |
Range |
|---|---|---|
| Meal, Inexpensive Restaurant | 21.26 $ | |
| Meal for 2 People, Mid-range Restaurant, Three-course | 127.53 $ | |
| McMeal at McDonalds (or Equivalent Combo Meal) | 17.71 $ | |
| Domestic Beer (1 pint draught) | 10.63 $ | |
| Imported Beer (12 oz small bottle) | 9.21 $ | |
| Cappuccino (regular) | 5.26 $ | |
| Coke/Pepsi (12 oz small bottle) | 2.97 $ | |
| Water (12 oz small bottle) | 2.31 $ | |
Markets | Edit |
|
| Milk (regular), (1 gallon) | 6.31 $ | |
| Loaf of Fresh White Bread (1 lb) | 3.29 $ | |
| Rice (white), (1 lb) | 1.38 $ | |
| Eggs (regular) (12) | 5.69 $ | |
| Local Cheese (1 lb) | 7.14 $ | |
| Chicken Fillets (1 lb) | 9.27 $ | |
| Beef Round (1 lb) (or Equivalent Back Leg Red Meat) | 15.88 $ | |
| Apples (1 lb) | 1.30 $ | |
| Banana (1 lb) | 0.99 $ | |
| Oranges (1 lb) | 1.17 $ | |
| Tomato (1 lb) | 2.12 $ | |
| Potato (1 lb) | 1.45 $ | |
| Onion (1 lb) | 0.88 $ | |
| Lettuce (1 head) | 2.93 $ | |
| Water (1.5 liter bottle) | 2.14 $ | |
| Bottle of Wine (Mid-Range) | 21.26 $ | |
| Domestic Beer (0.5 liter bottle) | 3.16 $ | |
| Imported Beer (12 oz small bottle) | 2.68 $ | |
| Cigarettes 20 Pack (Marlboro) | 12.22 $ | |
Transportation | Edit |
|
| One-way Ticket (Local Transport) | 4.46 $ | |
| Monthly Pass (Regular Price) | 73.68 $ | |
| Taxi Start (Normal Tariff) | 5.60 $ | |
| Taxi 1 mile (Normal Tariff) | 3.69 $ | |
| Taxi 1hour Waiting (Normal Tariff) | 75.24 $ | |
| Gasoline (1 gallon) | 8.36 $ | |
| Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) | 42,510.04 $ | |
| Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) | 46,244.85 $ | |
Utilities (Monthly) | Edit |
|
| Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment | 77.67 $ | |
| Mobile Phone Monthly Plan with Calls and 10GB+ Data | 24.27 $ | |
| Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) | 73.22 $ | |
Sports And Leisure | Edit |
|
| Fitness Club, Monthly Fee for 1 Adult | 70.70 $ | |
| Tennis Court Rent (1 Hour on Weekend) | 37.35 $ | |
| Cinema, International Release, 1 Seat | 14.52 $ | |
Childcare | Edit |
|
| Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child | 291.58 $ | |
| International Primary School, Yearly for 1 Child | 2,479.75 $ | |
Clothing And Shoes | Edit |
|
| 1 Pair of Jeans (Levis 501 Or Similar) | 121.38 $ | |
| 1 Summer Dress in a Chain Store (Zara, H&M, ...) | 56.11 $ | |
| 1 Pair of Nike Running Shoes (Mid-Range) | 156.80 $ | |
| 1 Pair of Men Leather Business Shoes | 207.95 $ | |
Rent Per Month | Edit |
|
| Apartment (1 bedroom) in City Centre | 1,962.06 $ | |
| Apartment (1 bedroom) Outside of Centre | 1,762.70 $ | |
| Apartment (3 bedrooms) in City Centre | 2,791.22 $ | |
| Apartment (3 bedrooms) Outside of Centre | 2,413.81 $ | |
Buy Apartment Price | Edit |
|
| Price per Square Feet to Buy Apartment in City Centre | 586.55 $ | |
| Price per Square Feet to Buy Apartment Outside of Centre | 491.98 $ | |
Salaries And Financing | Edit |
|
| Average Monthly Net Salary (After Tax) | 4,312.16 $ | |
| Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate | 9.48 |
Prices in Iceland
This country had 933 entries in the past 12 months by 135 different contributors.
Last update: January 2025
Our data for each country are based on all entries from all cities in that country.
Last update: January 2025
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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