Cost of Living in Reykjavik

Summary of cost of living in Reykjavik, Iceland:

Restaurants
Edit Range
Meal, Inexpensive Restaurant 29.40 S$ 19.50-44.09
Meal for 2 People, Mid-range Restaurant, Three-course 169.02 S$ 112.68-274.36
McMeal at McDonalds (or Equivalent Combo Meal) 23.03 S$ 19.60-24.50
Domestic Beer (1 pint draught) 14.70 S$ 11.76-18.62
Imported Beer (12 oz small bottle) 12.25 S$ 9.31-18.52
Cappuccino (regular) 6.91 S$ 4.90-8.82
Coke/Pepsi (12 oz small bottle) 3.96 S$ 2.74-4.90
Water (12 oz small bottle) 2.77 S$ 1.96-4.41
Markets
Edit
Milk (regular), (1 gallon) 8.42 S$ 7.34-11.13
Loaf of Fresh White Bread (1 lb) 4.54 S$ 2.84-8.89
Rice (white), (1 lb) 2.00 S$ 1.28-3.47
Eggs (regular) (12) 8.10 S$ 5.88-10.58
Local Cheese (1 lb) 9.53 S$ 5.33-13.33
Chicken Fillets (1 lb) 12.13 S$ 8.00-15.11
Beef Round (1 lb) (or Equivalent Back Leg Red Meat) 19.41 S$ 10.71-30.67
Apples (1 lb) 1.97 S$ 1.11-3.33
Banana (1 lb) 1.30 S$ 1.07-2.22
Oranges (1 lb) 1.73 S$ 1.22-3.97
Tomato (1 lb) 3.03 S$ 1.34-4.44
Potato (1 lb) 1.87 S$ 1.02-2.40
Onion (1 lb) 1.32 S$ 0.53-2.49
Lettuce (1 head) 4.29 S$ 2.44-6.31
Water (1.5 liter bottle) 2.94 S$ 1.06-5.18
Bottle of Wine (Mid-Range) 27.44 S$ 19.60-44.09
Domestic Beer (0.5 liter bottle) 4.20 S$ 3.14-5.79
Imported Beer (12 oz small bottle) 3.54 S$ 2.62-4.52
Cigarettes 20 Pack (Marlboro) 16.17 S$ 14.70-19.60
Transportation
Edit
One-way Ticket (Local Transport) 5.59 S$ 5.39-6.17
Monthly Pass (Regular Price) 91.13 S$ 79.37-130.81
Taxi Start (Normal Tariff) 7.15 S$ 7.15-8.72
Taxi 1 mile (Normal Tariff) 5.66 S$ 4.73-7.66
Taxi 1hour Waiting (Normal Tariff) 94.36 S$ 81.72-117.58
Gasoline (1 gallon) 11.74 S$ 11.02-12.24
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) 56,733.18 S$ 49,972.23-57,713.03
Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) 59,645.11 S$ 55,655.35-68,589.34
Utilities (Monthly)
Edit
Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment 116.31 S$ 67.61-244.96
Mobile Phone Monthly Plan with Calls and 10GB+ Data 31.89 S$ 24.50-48.99
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) 90.01 S$ 61.24-127.38
Sports And Leisure
Edit
Fitness Club, Monthly Fee for 1 Adult 86.53 S$ 65.32-137.18
Tennis Court Rent (1 Hour on Weekend) 39.33 S$ 24.50-62.71
Cinema, International Release, 1 Seat 19.60 S$ 16.66-22.54
Childcare
Edit
Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child 324.07 S$ 284.16-431.13
International Primary School, Yearly for 1 Child 8,149.07 S$ 6,075.06-12,248.10
Clothing And Shoes
Edit
1 Pair of Jeans (Levis 501 Or Similar) 141.79 S$ 78.39-215.57
1 Summer Dress in a Chain Store (Zara, H&M, ...) 61.13 S$ 37.23-127.38
1 Pair of Nike Running Shoes (Mid-Range) 194.59 S$ 99.94-289.06
1 Pair of Men Leather Business Shoes 247.83 S$ 148.94-342.95
Rent Per Month
Edit
Apartment (1 bedroom) in City Centre 2,517.39 S$ 1,959.74-2,939.54
Apartment (1 bedroom) Outside of Centre 2,252.89 S$ 1,959.70-2,743.57
Apartment (3 bedrooms) in City Centre 3,683.89 S$ 2,939.54-4,899.24
Apartment (3 bedrooms) Outside of Centre 3,249.70 S$ 2,841.56-4,409.31
Buy Apartment Price
Edit
Price per Square Feet to Buy Apartment in City Centre 788.93 S$ 646.31-1,092.36
Price per Square Feet to Buy Apartment Outside of Centre 627.05 S$ 473.36-819.27
Salaries And Financing
Edit
Average Monthly Net Salary (After Tax) 4,956.14 S$
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 8.14 3.95-10.50

Prices in Reykjavik

This city had 1118 entries in the past 12 months by 150 different contributors.
Last update: March 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