Cost of Living in Iceland
Summary of cost of living in Iceland:
- The estimated monthly costs for a family of four are 5,523.5$ (709,223.5kr), excluding rent.
- The estimated monthly costs for a single person are 1,476.9$ (189,635.7kr), excluding rent.
- Cost of living in Iceland is, on average, 38.7% higher than in United States.
- Rent in Iceland is, on average, 15.4% higher than in United States.
Restaurants |  Edit |
Range |
|---|---|---|
| Meal, Inexpensive Restaurant | 24.14 $ | |
| Meal for 2 People, Mid-range Restaurant, Three-course | 136.29 $ | |
| McMeal at McDonalds (or Equivalent Combo Meal) | 19.47 $ | |
| Domestic Beer (1 pint draught) | 11.68 $ | |
| Imported Beer (12 oz small bottle) | 10.06 $ | |
| Cappuccino (regular) | 5.84 $ | |
| Coke/Pepsi (12 oz small bottle) | 3.18 $ | |
| Water (12 oz small bottle) | 2.55 $ | |
Markets | Edit |
|
| Milk (regular), (1 gallon) | 6.94 $ | |
| Loaf of Fresh White Bread (1 lb) | 3.47 $ | |
| Rice (white), (1 lb) | 1.54 $ | |
| Eggs (regular) (12) | 6.37 $ | |
| Local Cheese (1 lb) | 8.02 $ | |
| Chicken Fillets (1 lb) | 10.52 $ | |
| Beef Round (1 lb) (or Equivalent Back Leg Red Meat) | 18.12 $ | |
| Apples (1 lb) | 1.36 $ | |
| Banana (1 lb) | 1.09 $ | |
| Oranges (1 lb) | 1.28 $ | |
| Tomato (1 lb) | 2.23 $ | |
| Potato (1 lb) | 1.58 $ | |
| Onion (1 lb) | 0.98 $ | |
| Lettuce (1 head) | 3.13 $ | |
| Water (1.5 liter bottle) | 2.18 $ | |
| Bottle of Wine (Mid-Range) | 23.36 $ | |
| Domestic Beer (0.5 liter bottle) | 3.60 $ | |
| Imported Beer (12 oz small bottle) | 3.03 $ | |
| Cigarettes 20 Pack (Marlboro) | 13.43 $ | |
Transportation | Edit |
|
| One-way Ticket (Local Transport) | 4.98 $ | |
| Monthly Pass (Regular Price) | 81.00 $ | |
| Taxi Start (Normal Tariff) | 6.15 $ | |
| Taxi 1 mile (Normal Tariff) | 4.06 $ | |
| Taxi 1hour Waiting (Normal Tariff) | 82.71 $ | |
| Gasoline (1 gallon) | 9.21 $ | |
| Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) | 45,872.27 $ | |
| Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) | 51,921.08 $ | |
Utilities (Monthly) | Edit |
|
| Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment | 85.08 $ | |
| Mobile Phone Monthly Plan with Calls and 10GB+ Data | 26.72 $ | |
| Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) | 79.99 $ | |
Sports And Leisure | Edit |
|
| Fitness Club, Monthly Fee for 1 Adult | 78.52 $ | |
| Tennis Court Rent (1 Hour on Weekend) | 37.51 $ | |
| Cinema, International Release, 1 Seat | 17.06 $ | |
Childcare | Edit |
|
| Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child | 330.80 $ | |
| International Primary School, Yearly for 1 Child | 29,161.18 $ | |
Clothing And Shoes | Edit |
|
| 1 Pair of Jeans (Levis 501 Or Similar) | 135.18 $ | |
| 1 Summer Dress in a Chain Store (Zara, H&M, ...) | 57.91 $ | |
| 1 Pair of Nike Running Shoes (Mid-Range) | 167.96 $ | |
| 1 Pair of Men Leather Business Shoes | 231.20 $ | |
Rent Per Month | Edit |
|
| Apartment (1 bedroom) in City Centre | 2,141.74 $ | |
| Apartment (1 bedroom) Outside of Centre | 1,947.04 $ | |
| Apartment (3 bedrooms) in City Centre | 3,068.24 $ | |
| Apartment (3 bedrooms) Outside of Centre | 2,632.98 $ | |
Buy Apartment Price | Edit |
|
| Price per Square Feet to Buy Apartment in City Centre | 666.80 $ | |
| Price per Square Feet to Buy Apartment Outside of Centre | 567.75 $ | |
Salaries And Financing | Edit |
|
| Average Monthly Net Salary (After Tax) | 4,299.40 $ | |
| Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate | 9.76 |
Prices in Iceland
This country had 1024 entries in the past 12 months by 146 different contributors.
Last update: April 2025
Our data for each country are based on all entries from all cities in that country.
Last update: April 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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