Cost of Living in Reykjavik
Summary of cost of living in Reykjavik, Iceland:
- The estimated monthly costs for a family of four are 5,613.9$ (731,881.9kr), excluding rent (using our estimator).
- The estimated monthly costs for a single person are 1,499.1$ (195,442.2kr), excluding rent.
- Reykjavik is 8.3% less expensive than New York (excluding rent, see our cost of living index).
- Rent in Reykjavik is, on average, 53.5% lower than in New York.
Restaurants |  Edit |
Range |
|---|---|---|
| Meal, Inexpensive Restaurant | 3,350.00 kr | |
| Meal for 2 People, Mid-range Restaurant, Three-course | 19,000.00 kr | |
| McMeal at McDonalds (or Equivalent Combo Meal) | 2,700.00 kr | |
| Domestic Beer (1 pint draught) | 1,600.00 kr | |
| Imported Beer (12 oz small bottle) | 1,350.00 kr | |
| Cappuccino (regular) | 759.11 kr | |
| Coke/Pepsi (12 oz small bottle) | 409.60 kr | |
| Water (12 oz small bottle) | 320.58 kr | |
Markets | Edit |
|
| Milk (regular), (1 gallon) | 880.45 kr | |
| Loaf of Fresh White Bread (1 lb) | 481.56 kr | |
| Rice (white), (1 lb) | 202.66 kr | |
| Eggs (regular) (12) | 800.74 kr | |
| Local Cheese (1 lb) | 1,026.38 kr | |
| Chicken Fillets (1 lb) | 1,340.13 kr | |
| Beef Round (1 lb) (or Equivalent Back Leg Red Meat) | 2,422.90 kr | |
| Apples (1 lb) | 181.34 kr | |
| Banana (1 lb) | 139.78 kr | |
| Oranges (1 lb) | 170.46 kr | |
| Tomato (1 lb) | 267.58 kr | |
| Potato (1 lb) | 205.05 kr | |
| Onion (1 lb) | 138.57 kr | |
| Lettuce (1 head) | 389.40 kr | |
| Water (1.5 liter bottle) | 240.38 kr | |
| Bottle of Wine (Mid-Range) | 3,000.00 kr | |
| Domestic Beer (0.5 liter bottle) | 458.57 kr | |
| Imported Beer (12 oz small bottle) | 408.91 kr | |
| Cigarettes 20 Pack (Marlboro) | 1,700.00 kr | |
Transportation | Edit |
|
| One-way Ticket (Local Transport) | 650.00 kr | |
| Monthly Pass (Regular Price) | 10,800.00 kr | |
| Taxi Start (Normal Tariff) | 790.00 kr | |
| Taxi 1 mile (Normal Tariff) | 521.43 kr | |
| Taxi 1hour Waiting (Normal Tariff) | 10,710.00 kr | |
| Gasoline (1 gallon) | 1,176.25 kr | |
| Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) | 5,890,000.00 kr | |
| Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) | 6,500,000.00 kr | |
Utilities (Monthly) | Edit |
|
| Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment | 10,938.25 kr | |
| Mobile Phone Monthly Plan with Calls and 10GB+ Data | 3,412.61 kr | |
| Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) | 10,618.75 kr | |
Sports And Leisure | Edit |
|
| Fitness Club, Monthly Fee for 1 Adult | 10,259.47 kr | |
| Tennis Court Rent (1 Hour on Weekend) | 4,666.67 kr | |
| Cinema, International Release, 1 Seat | 2,190.00 kr | |
Childcare | Edit |
|
| Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child | 39,962.88 kr | |
| International Primary School, Yearly for 1 Child | 3,744,295.00 kr | |
Clothing And Shoes | Edit |
|
| 1 Pair of Jeans (Levis 501 Or Similar) | 17,291.54 kr | |
| 1 Summer Dress in a Chain Store (Zara, H&M, ...) | 7,665.83 kr | |
| 1 Pair of Nike Running Shoes (Mid-Range) | 22,706.79 kr | |
| 1 Pair of Men Leather Business Shoes | 33,089.09 kr | |
Rent Per Month | Edit |
|
| Apartment (1 bedroom) in City Centre | 275,476.19 kr | |
| Apartment (1 bedroom) Outside of Centre | 252,500.00 kr | |
| Apartment (3 bedrooms) in City Centre | 395,541.67 kr | |
| Apartment (3 bedrooms) Outside of Centre | 341,272.73 kr | |
Buy Apartment Price | Edit |
|
| Price per Square Feet to Buy Apartment in City Centre | 88,179.73 kr | |
| Price per Square Feet to Buy Apartment Outside of Centre | 74,343.01 kr | |
Salaries And Financing | Edit |
|
| Average Monthly Net Salary (After Tax) | 540,793.88 kr | |
| Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate | 9.70 |
Prices in Reykjavik
This city had 877 entries in the past 12 months by 118 different contributors.
Last update: May 2025
Last update: May 2025
Sources and References
Moving to Reykjavik? Explore:
Distribution of Expenses Using Our Statistical Model:
Nearby Cities:| Cost of Living in Hafnarfjörður (Hafnarfjorour) | 6.29 miles |
| Cost of Living in Akranes | 29.20 miles |
| Cost of Living in Grindavik | 31.33 miles |
| Cost of Living in Grundarfjordur | 108.80 miles |
| Cost of Living in Kirkjubaejarklaustur | 159.08 miles |
| Cost of Living in Hofsos | 210.99 miles |
This Page in Other Languages:
 DeutschLebenshaltungskosten in Reykjavik
|
 PortuguêsCusto de Vida em Reykjavík
|
 ItalianoCosto della Vita a Reykjavik
|
 FrançaisCoût de la Vie à Reykjavik
|
 EspañolCosto de Vida en Reikiavik
|
These are private prep schools taught only in English (no Icelandic or whichever local language), which have a high standard (unlike Iceland, where children have low reading/writing/science skills and no grades or extracurricular activities where one has to excel) normally to get into ivy league schools in the U.S.
They exist all over the world :) and, as private schools, they're not free or have similar study programs as the local schools.
I hope this clarifies the difference (because you all added International in your comments, but don't seem to know what it means)
Primary schools in Iceland are free.
This is free in Iceland, everywhere...please make this right :)
I just took some time to put in the new price from the store Krónan here in Iceland so it is very accurate to day, but schoolf for children from 5 to 16 is free.
best regards,
Helena