Cost of Living in Reykjavik

Summary about cost of living in Reykjavik, Iceland:

Restaurants
[ Edit ] Range
Meal, Inexpensive Restaurant 2,500.00 kr 1,600.00-3,500.00
Meal for 2 People, Mid-range Restaurant, Three-course 16,500.00 kr 11,000.00-70,000.00
McMeal at McDonalds (or Equivalent Combo Meal) 1,800.00 kr 1,500.00-2,000.00
Domestic Beer (1 pint draught) 1,200.00 kr 900.00-1,500.00
Imported Beer (12 oz small bottle) 1,150.00 kr 1,000.00-1,400.00
Cappuccino (regular) 586.30 kr 400.00-800.00
Coke/Pepsi (12 oz small bottle) 365.88 kr 250.00-600.00
Water (12 oz small bottle) 269.59 kr 200.00-350.00
Markets
[ Edit ]
Milk (regular), (1 gallon) 680.38 kr 567.81-946.35
Loaf of Fresh White Bread (1 lb) 415.01 kr 293.93-589.67
Rice (white), (1 lb) 169.14 kr 90.72-267.17
Eggs (regular) (12) 718.72 kr 550.00-822.00
Local Cheese (1 lb) 719.03 kr 453.59-985.20
Chicken Fillets (1 lb) 876.20 kr 589.67-1,133.98
Beef Round (1 lb) (or Equivalent Back Leg Red Meat) 1,647.30 kr 1,133.98-2,267.96
Apples (1 lb) 133.80 kr 72.57-226.80
Banana (1 lb) 114.08 kr 95.25-181.44
Oranges (1 lb) 126.43 kr 107.96-317.52
Tomato (1 lb) 252.65 kr 172.37-298.92
Potato (1 lb) 147.94 kr 68.04-180.98
Onion (1 lb) 102.68 kr 54.43-181.44
Lettuce (1 head) 327.88 kr 240.00-400.00
Water (1.5 liter bottle) 285.14 kr 150.00-379.00
Bottle of Wine (Mid-Range) 2,600.00 kr 1,900.00-4,000.00
Domestic Beer (0.5 liter bottle) 414.96 kr 300.00-600.00
Imported Beer (12 oz small bottle) 387.00 kr 290.00-500.00
Cigarettes 20 Pack (Marlboro) 1,464.50 kr 1,390.00-1,690.00
Transportation
[ Edit ]
One-way Ticket (Local Transport) 480.00 kr 470.00-490.00
Monthly Pass (Regular Price) 12,800.00 kr 12,500.00-13,100.00
Taxi Start (Normal Tariff) 690.00 kr 690.00-900.00
Taxi 1 mile (Normal Tariff) 564.08 kr 389.46-804.67
Taxi 1hour Waiting (Normal Tariff) 7,920.00 kr 7,920.00-10,000.00
Gasoline (1 gallon) 853.50 kr 757.08-942.57
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) 3,790,000.00 kr 3,550,000.00-3,800,000.00
Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) 4,290,434.78 kr 4,150,000.00-4,570,000.00
Utilities (Monthly)
[ Edit ]
Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment 12,934.81 kr 6,000.00-23,000.00
1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) 23.38 kr 5.00-36.00
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) 8,664.17 kr 6,000.00-12,000.00
Sports And Leisure
[ Edit ]
Fitness Club, Monthly Fee for 1 Adult 7,155.87 kr 6,000.00-11,430.00
Tennis Court Rent (1 Hour on Weekend) 5,433.33 kr 3,000.00-10,000.00
Cinema, International Release, 1 Seat 1,600.00 kr 1,500.00-2,000.00
Childcare
[ Edit ]
Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child 34,619.05 kr 26,000.00-45,000.00
International Primary School, Yearly for 1 Child 860,000.00 kr 600,000.00-2,000,000.00
Clothing And Shoes
[ Edit ]
1 Pair of Jeans (Levis 501 Or Similar) 14,598.89 kr 8,000.00-19,000.00
1 Summer Dress in a Chain Store (Zara, H&M, ...) 6,026.32 kr 3,500.00-11,000.00
1 Pair of Nike Running Shoes (Mid-Range) 17,515.89 kr 12,000.00-22,500.00
1 Pair of Men Leather Business Shoes 22,992.12 kr 15,000.00-40,000.00
Rent Per Month
[ Edit ]
Apartment (1 bedroom) in City Centre 200,100.00 kr 150,000.00-250,000.00
Apartment (1 bedroom) Outside of Centre 167,931.03 kr 120,000.00-224,000.00
Apartment (3 bedrooms) in City Centre 319,275.86 kr 255,000.00-450,000.00
Apartment (3 bedrooms) Outside of Centre 267,111.11 kr 230,000.00-350,000.00
Buy Apartment Price
[ Edit ]
Price per Square Feet to Buy Apartment in City Centre 55,179.03 kr 46,621.61-74,321.81
Price per Square Feet to Buy Apartment Outside of Centre 43,180.84 kr 36,919.18-55,741.36
Salaries And Financing
[ Edit ]
Average Monthly Net Salary (After Tax) 408,763.78 kr
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 6.02 4.00-7.50

Prices in Reykjavik

This city had 1492 entries in the past 12 months by 193 different contributors.
Last update: December 2020
Sources and References
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3 Comments so far
Gio on Jul 26, 2018:
Hello everyone

I have two questions:
1. Do you know any website where I can rent a flat for months?
2. Do you know any website to find basic jobs?

thnx
Neil Crockett on Jan 25, 2017:
I have just returned from a 4 day trip. Being going now for 4 years... this year it hurt. The prices have gone through the roof. Pound is weak and krone high. Pint of lager is £8.40. Meal for 6.... only 2 courses and perhaps 3 drinks each.... £484.00. Shops and cafes closing down in reyjavik. Locals are struggling with the cost of living. I won't be going back now. Love the place. Beautiful place to go. Stunning... just can't afford it.
Roderick on Jan 24, 2017:
Returned yesterday, and i cant agree with these prices, specially the resturent prices are much more expensive. In town center midpriced restaurant 6.500 Kr for a 3 course menu. And in the foodcellar 9.800 Kr. And Stofan Kaffihus 3.100 Kr for a panini sandwich with smoked salmon. Price busses is now 440 Kr.