Cost of Living in Reykjavik

Summary of cost of living in Reykjavik, Iceland:

Restaurants
Edit Range
Meal, Inexpensive Restaurant 3,000.00 kr 1,990.00-4,500.00
Meal for 2 People, Mid-range Restaurant, Three-course 17,250.00 kr 11,500.00-28,000.00
McMeal at McDonalds (or Equivalent Combo Meal) 2,350.00 kr 2,000.00-2,500.00
Domestic Beer (1 pint draught) 1,500.00 kr 1,200.00-1,900.00
Imported Beer (12 oz small bottle) 1,250.00 kr 950.00-1,890.00
Cappuccino (regular) 705.04 kr 500.00-900.00
Coke/Pepsi (12 oz small bottle) 401.75 kr 280.00-500.00
Water (12 oz small bottle) 282.93 kr 200.00-450.00
Markets
Edit
Milk (regular), (1 gallon) 863.07 kr 749.51-1,135.62
Loaf of Fresh White Bread (1 lb) 463.18 kr 290.00-907.19
Rice (white), (1 lb) 204.53 kr 131.09-353.80
Eggs (regular) (12) 830.91 kr 600.00-1,080.00
Local Cheese (1 lb) 972.52 kr 544.31-1,360.78
Chicken Fillets (1 lb) 1,237.77 kr 816.47-1,541.76
Beef Round (1 lb) (or Equivalent Back Leg Red Meat) 1,929.31 kr 1,097.60-3,015.94
Apples (1 lb) 201.10 kr 113.40-339.74
Banana (1 lb) 132.61 kr 108.86-226.80
Oranges (1 lb) 176.48 kr 124.74-405.06
Tomato (1 lb) 304.24 kr 137.20-453.59
Potato (1 lb) 191.16 kr 104.33-244.94
Onion (1 lb) 134.92 kr 54.43-254.01
Lettuce (1 head) 427.18 kr 245.00-644.00
Water (1.5 liter bottle) 300.21 kr 108.00-529.00
Bottle of Wine (Mid-Range) 2,749.50 kr 2,000.00-4,500.00
Domestic Beer (0.5 liter bottle) 426.86 kr 320.00-590.91
Imported Beer (12 oz small bottle) 360.89 kr 267.00-461.00
Cigarettes 20 Pack (Marlboro) 1,650.00 kr 1,500.00-2,000.00
Transportation
Edit
One-way Ticket (Local Transport) 570.00 kr 550.00-630.00
Monthly Pass (Regular Price) 9,300.00 kr 8,000.00-13,350.00
Taxi Start (Normal Tariff) 730.00 kr 730.00-890.00
Taxi 1 mile (Normal Tariff) 577.75 kr 482.80-782.14
Taxi 1hour Waiting (Normal Tariff) 9,630.00 kr 8,340.00-12,000.00
Gasoline (1 gallon) 1,198.11 kr 1,124.27-1,249.19
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) 5,790,000.00 kr 5,100,000.00-5,890,000.00
Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) 5,995,900.00 kr 5,500,000.00-6,200,000.00
Utilities (Monthly)
Edit
Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment 12,752.02 kr 7,000.00-25,000.00
Mobile Phone Monthly Plan with Calls and 10GB+ Data 3,254.67 kr 2,500.00-5,000.00
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) 9,185.02 kr 6,250.00-13,000.00
Sports And Leisure
Edit
Fitness Club, Monthly Fee for 1 Adult 8,775.19 kr 6,666.67-14,000.00
Tennis Court Rent (1 Hour on Weekend) 4,014.29 kr 2,500.00-6,400.00
Cinema, International Release, 1 Seat 2,000.00 kr 1,700.00-2,300.00
Childcare
Edit
Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child 33,073.00 kr 29,000.00-44,000.00
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) 14,598.32 kr 8,100.00-20,000.00
1 Summer Dress in a Chain Store (Zara, H&M, ...) 6,161.56 kr 3,800.00-13,000.00
1 Pair of Nike Running Shoes (Mid-Range) 19,990.45 kr 10,200.00-29,500.00
1 Pair of Men Leather Business Shoes 25,292.35 kr 15,200.00-35,000.00
Rent Per Month
Edit
Apartment (1 bedroom) in City Centre 256,916.88 kr 200,005.00-300,000.00
Apartment (1 bedroom) Outside of Centre 229,479.40 kr 200,000.00-280,000.00
Apartment (3 bedrooms) in City Centre 375,965.52 kr 300,000.00-500,000.00
Apartment (3 bedrooms) Outside of Centre 327,428.57 kr 270,000.00-450,000.00
Buy Apartment Price
Edit
Price per Square Feet to Buy Apartment in City Centre 79,696.87 kr 65,960.61-111,482.72
Price per Square Feet to Buy Apartment Outside of Centre 63,792.70 kr 48,309.18-83,612.04
Salaries And Financing
Edit
Average Monthly Net Salary (After Tax) 499,562.26 kr
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 8.05 3.95-10.50

Prices in Reykjavik

This city had 1095 entries in the past 12 months by 143 different contributors.
Last update: February 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