Cost of Living in Reykjavik
Summary of cost of living in Reykjavik, Iceland:
- A family of four estimated monthly costs are 4,666.4$ (642,984.2kr) without rent (using our estimator).
- A single person estimated monthly costs are 1,256.4$ (173,115.7kr) without rent.
- Reykjavik is 10.8% less expensive than New York (without rent, see our cost of living index).
- Rent in Reykjavik is, on average, 57.5% lower than in New York.
Restaurants |  Edit |
Range |
|---|---|---|
| Meal, Inexpensive Restaurant | 2,750.00 kr | |
| Meal for 2 People, Mid-range Restaurant, Three-course | 15,750.00 kr | |
| McMeal at McDonalds (or Equivalent Combo Meal) | 2,145.00 kr | |
| Domestic Beer (1 pint draught) | 1,400.00 kr | |
| Imported Beer (12 oz small bottle) | 1,200.00 kr | |
| Cappuccino (regular) | 643.81 kr | |
| Coke/Pepsi (12 oz small bottle) | 384.25 kr | |
| Water (12 oz small bottle) | 292.16 kr | |
Markets | Edit |
|
| Milk (regular), (1 gallon) | 827.00 kr | |
| Loaf of Fresh White Bread (1 lb) | 449.97 kr | |
| Rice (white), (1 lb) | 201.00 kr | |
| Eggs (regular) (12) | 833.09 kr | |
| Local Cheese (1 lb) | 915.02 kr | |
| Chicken Fillets (1 lb) | 1,182.70 kr | |
| Beef Round (1 lb) (or Equivalent Back Leg Red Meat) | 1,843.47 kr | |
| Apples (1 lb) | 195.23 kr | |
| Banana (1 lb) | 134.32 kr | |
| Oranges (1 lb) | 157.95 kr | |
| Tomato (1 lb) | 302.53 kr | |
| Potato (1 lb) | 177.55 kr | |
| Onion (1 lb) | 104.93 kr | |
| Lettuce (1 head) | 417.41 kr | |
| Water (1.5 liter bottle) | 280.67 kr | |
| Bottle of Wine (Mid-Range) | 2,800.00 kr | |
| Domestic Beer (0.5 liter bottle) | 429.23 kr | |
| Imported Beer (12 oz small bottle) | 353.50 kr | |
| Cigarettes 20 Pack (Marlboro) | 1,650.00 kr | |
Transportation | Edit |
|
| One-way Ticket (Local Transport) | 550.00 kr | |
| Monthly Pass (Regular Price) | 9,000.00 kr | |
| Taxi Start (Normal Tariff) | 730.00 kr | |
| Taxi 1 mile (Normal Tariff) | 583.39 kr | |
| Taxi 1hour Waiting (Normal Tariff) | 9,360.00 kr | |
| Gasoline (1 gallon) | 1,215.14 kr | |
| Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) | 5,395,000.00 kr | |
| Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) | 5,825,307.69 kr | |
Utilities (Monthly) | Edit |
|
| Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment | 12,350.69 kr | |
| Mobile Phone Monthly Plan with Calls and 10GB+ Data | 3,168.33 kr | |
| Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) | 9,067.80 kr | |
Sports And Leisure | Edit |
|
| Fitness Club, Monthly Fee for 1 Adult | 9,421.77 kr | |
| Tennis Court Rent (1 Hour on Weekend) | 4,014.29 kr | |
| Cinema, International Release, 1 Seat | 2,000.00 kr | |
Childcare | Edit |
|
| Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child | 34,332.45 kr | |
| International Primary School, Yearly for 1 Child | 831,666.67 kr | |
Clothing And Shoes | Edit |
|
| 1 Pair of Jeans (Levis 501 Or Similar) | 14,569.90 kr | |
| 1 Summer Dress in a Chain Store (Zara, H&M, ...) | 5,626.67 kr | |
| 1 Pair of Nike Running Shoes (Mid-Range) | 18,808.18 kr | |
| 1 Pair of Men Leather Business Shoes | 25,086.76 kr | |
Rent Per Month | Edit |
|
| Apartment (1 bedroom) in City Centre | 232,842.24 kr | |
| Apartment (1 bedroom) Outside of Centre | 205,647.99 kr | |
| Apartment (3 bedrooms) in City Centre | 357,228.57 kr | |
| Apartment (3 bedrooms) Outside of Centre | 306,343.75 kr | |
Buy Apartment Price | Edit |
|
| Price per Square Feet to Buy Apartment in City Centre | 79,835.36 kr | |
| Price per Square Feet to Buy Apartment Outside of Centre | 61,502.41 kr | |
Salaries And Financing | Edit |
|
| Average Monthly Net Salary (After Tax) | 511,448.18 kr | |
| Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate | 7.59 |
Prices in Reykjavik
This city had 1776 entries in the past 12 months by 229 different contributors.
Last update: September 2023
Last update: September 2023
Sources and References
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Distribution of Expenses Using Our Statistical Model:
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Nearby cities:| Cost of Living in 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
|
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