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Cost of Living in Iceland

Cost of living in Iceland is 38.02% higher than in United States (aggregate data for all cities, rent is not taken into account). Rent in Iceland is 14.07% higher than in United States (average data for all cities).
Restaurants [ Edit ] Range
Meal, Inexpensive Restaurant 20.02 $ 13.61-25.00
Meal for 2 People, Mid-range Restaurant, Three-course 102.11 $ 76.08-144.15
McMeal at McDonalds (or Equivalent Combo Meal) 12.81 $ 12.00-15.94
Domestic Beer (1 pint draught) 9.61 $ 8.01-10.01
Imported Beer (12 oz small bottle) 8.01 $ 7.21-9.61
Cappuccino (regular) 4.44 $ 3.60-5.21
Coke/Pepsi (12 oz small bottle) 2.45 $ 1.28-3.92
Water (12 oz small bottle) 2.05 $ 1.20-2.80
Markets [ Edit ]
Milk (regular), (1 gallon) 4.76 $ 4.40-5.43
Loaf of Fresh White Bread (1 lb) 2.46 $ 2.00-3.18
Rice (white), (1 lb) 1.33 $ 0.91-2.10
Eggs (regular) (12) 4.95 $ 4.00-5.77
Local Cheese (1 lb) 5.98 $ 4.52-7.63
Chicken Breasts (Boneless, Skinless), (1 lb) 7.07 $ 5.81-8.90
Beef Round (1 lb) (or Equivalent Back Leg Red Meat) 10.98 $ 7.27-17.80
Apples (1 lb) 1.08 $ 0.84-1.45
Banana (1 lb) 0.90 $ 0.73-1.09
Oranges (1 lb) 1.10 $ 0.91-1.45
Tomato (1 lb) 1.79 $ 1.27-2.39
Potato (1 lb) 0.99 $ 0.73-1.43
Onion (1 lb) 0.80 $ 0.29-1.24
Lettuce (1 head) 2.30 $ 1.50-2.96
Water (1.5 liter bottle) 1.74 $ 1.00-3.04
Bottle of Wine (Mid-Range) 20.02 $ 16.02-24.02
Domestic Beer (0.5 liter bottle) 2.70 $ 2.31-3.20
Imported Beer (12 oz small bottle) 2.73 $ 2.40-3.36
Cigarettes 20 Pack (Marlboro) 11.13 $ 9.61-12.48
Transportation [ Edit ]
One-way Ticket (Local Transport) 3.76 $ 3.60-3.76
Monthly Pass (Regular Price) 98.50 $ 88.09-102.51
Taxi Start (Normal Tariff) 5.53 $ 5.53-6.41
Taxi 1 mile (Normal Tariff) 3.87 $ 3.12-5.16
Taxi 1hour Waiting (Normal Tariff) 63.43 $ 59.58-66.79
Gasoline (1 gallon) 6.77 $ 6.21-7.18
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) 28,449.60 $ 24,825.83-33,554.91
Toyota Corolla 1.6l 97kW Comfort (Or Equivalent New Car) 32,278.58 $ 26,187.24-36,037.49
Utilities (Monthly) [ Edit ]
Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment 94.89 $ 52.36-160.17
1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) 0.17 $ 0.12-0.22
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) 66.52 $ 48.05-87.85
Sports And Leisure [ Edit ]
Fitness Club, Monthly Fee for 1 Adult 60.36 $ 50.05-91.54
Tennis Court Rent (1 Hour on Weekend) 35.66 $ 24.02-72.07
Cinema, International Release, 1 Seat 12.41 $ 11.61-13.45
Childcare [ Edit ]
Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child 279.69 $ 202.08-344.36
International Primary School, Yearly for 1 Child 6,727.00 $ 2,018.10-9,610.00
Clothing And Shoes [ Edit ]
1 Pair of Jeans (Levis 501 Or Similar) 112.22 $ 64.07-152.16
1 Summer Dress in a Chain Store (Zara, H&M, ...) 51.21 $ 28.03-96.10
1 Pair of Nike Running Shoes (Mid-Range) 142.80 $ 112.12-200.21
1 Pair of Men Leather Business Shoes 187.66 $ 120.12-256.27
Rent Per Month [ Edit ]
Apartment (1 bedroom) in City Centre 1,482.73 $ 1,121.17-2,002.08
Apartment (1 bedroom) Outside of Centre 1,228.73 $ 880.92-1,601.67
Apartment (3 bedrooms) in City Centre 2,269.40 $ 1,761.83-2,802.92
Apartment (3 bedrooms) Outside of Centre 1,932.25 $ 1,521.58-2,402.50
Buy Apartment Price [ Edit ]
Price per Square Feet to Buy Apartment in City Centre 439.03 $ 372.00-595.19
Price per Square Feet to Buy Apartment Outside of Centre 330.98 $ 260.40-446.40
Salaries And Financing [ Edit ]
Average Monthly Net Salary (After Tax) 3,054.81 $
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 6.41 0.04-0.06

Prices in Iceland

These data are based on 2906 entries in the past 18 months from 328 different contributors.
Last update: October 2019
Our data for each country are based on all entries from all cities in that country.
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DeutschLebenshaltungskosten in Island
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ItalianoCosto della Vita in Islanda
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Cost of Living in this country for some cities: Reykjavik, Selfoss

We would like to gather more data for: Akranes, Bakkafjordur, Bildudalur, Blonduos, Bolungarvik, Bordeyri, Borgarnes, Dalvik, Drangsnes, Egilsstadir, Eidar, ... Update information for Iceland!