Cost of Living in Reykjavik

Summary of cost of living in Reykjavik, Iceland:

Restaurants
Edit Range
Meal, Inexpensive Restaurant 3,000.00 kr 1,890.00-4,500.00
Meal for 2 People, Mid-range Restaurant, Three-course 17,000.00 kr 10,000.00-28,000.00
McMeal at McDonalds (or Equivalent Combo Meal) 2,400.00 kr 2,100.00-2,500.00
Domestic Beer (1 pint draught) 1,500.00 kr 1,000.00-1,890.00
Imported Beer (12 oz small bottle) 1,300.00 kr 1,000.00-1,850.00
Cappuccino (regular) 725.08 kr 546.92-950.00
Coke/Pepsi (12 oz small bottle) 409.46 kr 280.00-550.00
Water (12 oz small bottle) 296.29 kr 200.00-450.00
Markets
Edit
Milk (regular), (1 gallon) 876.61 kr 772.22-1,135.62
Loaf of Fresh White Bread (1 lb) 452.95 kr 290.00-907.19
Rice (white), (1 lb) 190.32 kr 131.09-294.38
Eggs (regular) (12) 811.98 kr 598.00-960.00
Local Cheese (1 lb) 976.85 kr 635.03-1,360.78
Chicken Fillets (1 lb) 1,267.43 kr 816.47-1,677.84
Beef Round (1 lb) (or Equivalent Back Leg Red Meat) 2,144.75 kr 1,224.25-3,175.15
Apples (1 lb) 181.46 kr 113.40-272.16
Banana (1 lb) 135.41 kr 113.40-203.66
Oranges (1 lb) 169.45 kr 122.47-340.19
Tomato (1 lb) 313.54 kr 147.42-430.46
Potato (1 lb) 190.84 kr 102.06-244.94
Onion (1 lb) 130.73 kr 54.43-249.48
Lettuce (1 head) 396.36 kr 225.00-600.00
Water (1.5 liter bottle) 263.00 kr 120.00-450.00
Bottle of Wine (Mid-Range) 2,918.50 kr 2,000.00-4,500.00
Domestic Beer (0.5 liter bottle) 436.05 kr 350.00-590.91
Imported Beer (12 oz small bottle) 345.06 kr 250.00-461.00
Cigarettes 20 Pack (Marlboro) 1,654.50 kr 1,500.00-1,890.00
Transportation
Edit
One-way Ticket (Local Transport) 585.00 kr 550.00-630.00
Monthly Pass (Regular Price) 9,300.00 kr 9,000.00-10,800.00
Taxi Start (Normal Tariff) 730.00 kr 730.00-890.00
Taxi 1 mile (Normal Tariff) 521.43 kr 482.80-957.11
Taxi 1hour Waiting (Normal Tariff) 10,260.00 kr 9,360.00-12,000.00
Gasoline (1 gallon) 1,187.92 kr 1,097.77-1,249.19
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) 5,790,000.00 kr 5,500,000.00-6,190,000.00
Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) 6,064,333.33 kr 5,990,000.00-6,750,000.00
Utilities (Monthly)
Edit
Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment 11,604.71 kr 7,200.00-25,000.00
Mobile Phone Monthly Plan with Calls and 10GB+ Data 3,277.06 kr 2,500.00-5,000.00
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) 9,364.17 kr 6,300.00-15,000.00
Sports And Leisure
Edit
Fitness Club, Monthly Fee for 1 Adult 8,999.12 kr 6,500.00-15,000.00
Tennis Court Rent (1 Hour on Weekend) 3,944.44 kr 2,100.00-7,500.00
Cinema, International Release, 1 Seat 2,045.00 kr 1,700.00-2,400.00
Childcare
Edit
Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child 33,662.22 kr 30,500.00-40,000.00
International Primary School, Yearly for 1 Child 831,666.67 kr 620,000.00-1,250,000.00
Clothing And Shoes
Edit
1 Pair of Jeans (Levis 501 Or Similar) 13,983.05 kr 8,000.00-20,000.00
1 Summer Dress in a Chain Store (Zara, H&M, ...) 6,121.92 kr 3,800.00-13,000.00
1 Pair of Nike Running Shoes (Mid-Range) 19,313.64 kr 10,200.00-29,500.00
1 Pair of Men Leather Business Shoes 25,248.12 kr 15,200.00-35,000.00
Rent Per Month
Edit
Apartment (1 bedroom) in City Centre 263,138.10 kr 200,005.00-300,000.00
Apartment (1 bedroom) Outside of Centre 237,042.82 kr 200,000.00-280,000.00
Apartment (3 bedrooms) in City Centre 379,923.08 kr 300,000.00-450,000.00
Apartment (3 bedrooms) Outside of Centre 338,250.00 kr 300,000.00-450,000.00
Buy Apartment Price
Edit
Price per Square Feet to Buy Apartment in City Centre 80,035.30 kr 65,960.61-102,192.49
Price per Square Feet to Buy Apartment Outside of Centre 62,855.60 kr 47,844.67-82,683.02
Salaries And Financing
Edit
Average Monthly Net Salary (After Tax) 518,509.52 kr
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 8.07 3.95-10.50

Prices in Reykjavik

This city had 1384 entries in the past 12 months by 185 different contributors.
Last update: July 2024
Distribution of Expenses Using Our Statistical Model:
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3 Comments so far
HB on Oct 23, 2023:
As the two comments above state, Schools in Iceland are free from 5 to 16 years old, therefore please dismiss the "831,666.67 kr for 1 Year of International Primary School"
HG on Oct 04, 2023:
What do you mean by "International Primary School, Yearly for 1 Child" ?
Primary schools in Iceland are free.
Helena on Apr 04, 2023:
Hi hi, this is not right "International Primary School, Yearly for 1 Child"
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