Cost of Living in Reykjavik

Summary about cost of living in Reykjavik, Iceland:

Restaurants
Edit Range
Meal, Inexpensive Restaurant 15.92 € 11.45-22.29
Meal for 2 People, Mid-range Restaurant, Three-course 98.65 € 70.06-159.22
McMeal at McDonalds (or Equivalent Combo Meal) 11.46 € 9.55-12.74
Domestic Beer (1 pint draught) 7.64 € 5.73-9.55
Imported Beer (12 oz small bottle) 7.64 € 6.37-9.55
Cappuccino (regular) 3.74 € 2.55-5.10
Coke/Pepsi (12 oz small bottle) 2.33 € 1.59-3.82
Water (12 oz small bottle) 1.75 € 1.27-2.23
Markets
Edit
Milk (regular), (1 gallon) 4.31 € 3.62-6.03
Loaf of Fresh White Bread (1 lb) 2.70 € 1.87-3.76
Rice (white), (1 lb) 0.97 € 0.58-1.64
Eggs (regular) (12) 4.47 € 3.50-5.10
Local Cheese (1 lb) 4.58 € 2.89-6.27
Chicken Fillets (1 lb) 5.60 € 3.76-7.22
Beef Round (1 lb) (or Equivalent Back Leg Red Meat) 10.04 € 7.22-14.44
Apples (1 lb) 0.85 € 0.46-1.44
Banana (1 lb) 0.74 € 0.61-1.16
Oranges (1 lb) 0.80 € 0.69-2.02
Tomato (1 lb) 1.63 € 1.10-1.90
Potato (1 lb) 0.92 € 0.43-1.15
Onion (1 lb) 0.65 € 0.35-1.01
Lettuce (1 head) 2.02 € 1.53-2.53
Water (1.5 liter bottle) 1.68 € 0.96-2.41
Bottle of Wine (Mid-Range) 16.24 € 12.10-25.48
Domestic Beer (0.5 liter bottle) 2.68 € 1.91-3.82
Imported Beer (12 oz small bottle) 2.52 € 1.91-3.18
Cigarettes 20 Pack (Marlboro) 9.23 € 8.85-10.76
Transportation
Edit
One-way Ticket (Local Transport) 3.06 € 2.99-3.12
Monthly Pass (Regular Price) 81.52 € 79.61-83.43
Taxi Start (Normal Tariff) 4.39 € 4.39-5.73
Taxi 1 mile (Normal Tariff) 3.59 € 2.48-4.10
Taxi 1hour Waiting (Normal Tariff) 50.44 € 50.44-50.44
Gasoline (1 gallon) 5.43 € 4.82-6.00
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) 24,137.78 € 22,609.26-26,239.48
Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) 27,547.54 € 26,430.55-30,124.46
Utilities (Monthly)
Edit
Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment 80.46 € 38.21-146.48
1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) 0.12 € 0.03-0.13
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) 54.41 € 38.21-76.43
Sports And Leisure
Edit
Fitness Club, Monthly Fee for 1 Adult 45.65 € 38.21-72.80
Tennis Court Rent (1 Hour on Weekend) 32.61 € 19.11-56.05
Cinema, International Release, 1 Seat 10.51 € 9.55-12.74
Childcare
Edit
Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child 222.04 € 165.59-286.60
International Primary School, Yearly for 1 Child 5,477.17 € 3,821.28-12,737.61
Clothing And Shoes
Edit
1 Pair of Jeans (Levis 501 Or Similar) 91.92 € 50.95-121.01
1 Summer Dress in a Chain Store (Zara, H&M, ...) 38.38 € 22.29-70.06
1 Pair of Nike Running Shoes (Mid-Range) 112.32 € 76.43-152.85
1 Pair of Men Leather Business Shoes 149.74 € 95.53-254.75
Rent Per Month
Edit
Apartment (1 bedroom) in City Centre 1,274.38 € 955.32-1,592.20
Apartment (1 bedroom) Outside of Centre 1,088.19 € 796.10-1,426.61
Apartment (3 bedrooms) in City Centre 2,037.81 € 1,624.05-2,865.96
Apartment (3 bedrooms) Outside of Centre 1,734.76 € 1,464.83-2,229.08
Buy Apartment Price
Edit
Price per Square Feet to Buy Apartment in City Centre 356.75 € 307.67-473.34
Price per Square Feet to Buy Apartment Outside of Centre 273.99 € 235.13-355.01
Salaries And Financing
Edit
Average Monthly Net Salary (After Tax) 2,585.68 €
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 5.93 3.90-7.50

Prices in Reykjavik

This city had 573 entries in the past 12 months by 73 different contributors.
Last update: January 2021
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.