Cost of Living in Reykjavik
Summary of cost of living in Reykjavik, Iceland:
- The estimated monthly costs for a family of four are 7,838.8C$ (721,705.4kr), excluding rent (using our estimator).
- The estimated monthly costs for a single person are 2,091.9C$ (192,596.5kr), excluding rent.
- Reykjavik is 7.8% less expensive than New York (excluding rent, see our cost of living index).
- Rent in Reykjavik is, on average, 51.2% lower than in New York.
Restaurants |  Edit |
Range |
|---|---|---|
| Meal, Inexpensive Restaurant | 36.39 C$ | |
| Meal for 2 People, Mid-range Restaurant, Three-course | 195.51 C$ | |
| McMeal at McDonalds (or Equivalent Combo Meal) | 27.15 C$ | |
| Domestic Beer (1 pint draught) | 16.84 C$ | |
| Imported Beer (12 oz small bottle) | 14.66 C$ | |
| Cappuccino (regular) | 8.26 C$ | |
| Coke/Pepsi (12 oz small bottle) | 4.48 C$ | |
| Water (12 oz small bottle) | 3.52 C$ | |
Markets | Edit |
|
| Milk (regular), (1 gallon) | 9.56 C$ | |
| Loaf of Fresh White Bread (1 lb) | 5.01 C$ | |
| Rice (white), (1 lb) | 2.21 C$ | |
| Eggs (regular) (12) | 8.88 C$ | |
| Local Cheese (1 lb) | 11.03 C$ | |
| Chicken Fillets (1 lb) | 14.51 C$ | |
| Beef Round (1 lb) (or Equivalent Back Leg Red Meat) | 25.42 C$ | |
| Apples (1 lb) | 1.99 C$ | |
| Banana (1 lb) | 1.52 C$ | |
| Oranges (1 lb) | 1.79 C$ | |
| Tomato (1 lb) | 3.24 C$ | |
| Potato (1 lb) | 2.21 C$ | |
| Onion (1 lb) | 1.45 C$ | |
| Lettuce (1 head) | 4.37 C$ | |
| Water (1.5 liter bottle) | 2.90 C$ | |
| Bottle of Wine (Mid-Range) | 32.58 C$ | |
| Domestic Beer (0.5 liter bottle) | 4.93 C$ | |
| Imported Beer (12 oz small bottle) | 4.30 C$ | |
| Cigarettes 20 Pack (Marlboro) | 18.46 C$ | |
Transportation | Edit |
|
| One-way Ticket (Local Transport) | 7.06 C$ | |
| Monthly Pass (Regular Price) | 117.30 C$ | |
| Taxi Start (Normal Tariff) | 8.58 C$ | |
| Taxi 1 mile (Normal Tariff) | 5.48 C$ | |
| Taxi 1hour Waiting (Normal Tariff) | 115.35 C$ | |
| Gasoline (1 gallon) | 12.82 C$ | |
| Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) | 63,974.57 C$ | |
| Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) | 70,600.12 C$ | |
Utilities (Monthly) | Edit |
|
| Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment | 115.93 C$ | |
| Mobile Phone Monthly Plan with Calls and 10GB+ Data | 37.07 C$ | |
| Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) | 107.57 C$ | |
Sports And Leisure | Edit |
|
| Fitness Club, Monthly Fee for 1 Adult | 110.13 C$ | |
| Tennis Court Rent (1 Hour on Weekend) | 52.32 C$ | |
| Cinema, International Release, 1 Seat | 23.79 C$ | |
Childcare | Edit |
|
| Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child | 413.59 C$ | |
| International Primary School, Yearly for 1 Child | 40,668.87 C$ | |
Clothing And Shoes | Edit |
|
| 1 Pair of Jeans (Levis 501 Or Similar) | 189.56 C$ | |
| 1 Summer Dress in a Chain Store (Zara, H&M, ...) | 82.23 C$ | |
| 1 Pair of Nike Running Shoes (Mid-Range) | 242.72 C$ | |
| 1 Pair of Men Leather Business Shoes | 337.52 C$ | |
Rent Per Month | Edit |
|
| Apartment (1 bedroom) in City Centre | 2,992.10 C$ | |
| Apartment (1 bedroom) Outside of Centre | 2,767.34 C$ | |
| Apartment (3 bedrooms) in City Centre | 4,296.20 C$ | |
| Apartment (3 bedrooms) Outside of Centre | 3,706.75 C$ | |
Buy Apartment Price | Edit |
|
| Price per Square Feet to Buy Apartment in City Centre | 950.56 C$ | |
| Price per Square Feet to Buy Apartment Outside of Centre | 801.53 C$ | |
Salaries And Financing | Edit |
|
| Average Monthly Net Salary (After Tax) | 5,727.22 C$ | |
| Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate | 9.53 |
Prices in Reykjavik
This city had 876 entries in the past 12 months by 117 different contributors.
Last update: April 2025
Last update: April 2025
Sources and References
Moving to Reykjavik? Explore:
Distribution of Expenses Using Our Statistical Model:
Sign Up for Our Newsletter:
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
|
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