Cost of Living in Reykjavik
Summary of cost of living in Reykjavik, Iceland:
- The estimated monthly costs for a family of four are 5,988.5$ (731,611.0kr), excluding rent (using our estimator).
- The estimated monthly costs for a single person are 1,581.5$ (193,216.7kr), excluding rent.
- Reykjavik is 23.0% more expensive than Los Angeles (excluding rent, see our cost of living index).
- Rent in Reykjavik is, on average, 26.1% lower than in Los Angeles.
Restaurants |  Edit |
Range |
|---|---|---|
| Meal at an Inexpensive Restaurant | 28.65 $ | |
| Meal for Two at a Mid-Range Restaurant (Three Courses, Without Drinks) | 122.78 $ | |
| Combo Meal at McDonald's (or Equivalent Fast-Food Meal) | 22.92 $ | |
| Domestic Draft Beer (1 Pint) | 12.48 $ | |
| Imported Beer (12 oz Small Bottle) | 11.46 $ | |
| Cappuccino (Regular Size) | 6.14 $ | |
| Soft Drink (Coca-Cola or Pepsi, 12 oz Small Bottle) | 3.26 $ | |
| Bottled Water (12 oz) | 2.84 $ | |
Markets | Edit |
|
| Milk (Regular, 1 Liter) | 1.97 $ | |
| Fresh White Bread (1 lb Loaf) | 4.01 $ | |
| White Rice (1 lb) | 1.63 $ | |
| Eggs (12, Large Size) | 6.81 $ | |
| Local Cheese (1 lb) | 8.93 $ | |
| Chicken Fillets (1 lb) | 11.80 $ | |
| Beef Round or Equivalent Back Leg Red Meat (1 lb) | 20.30 $ | |
| Apples (1 lb) | 1.60 $ | |
| Bananas (1 lb) | 1.21 $ | |
| Oranges (1 lb) | 1.54 $ | |
| Tomatoes (1 lb) | 2.65 $ | |
| Potatoes (1 lb) | 1.58 $ | |
| Onions (1 lb) | 0.86 $ | |
| Lettuce (1 Head) | 2.80 $ | |
| Bottled Water (50 oz) | 1.89 $ | |
| Bottle of Wine (Mid-Range) | 24.15 $ | |
| Domestic Beer (16.9 oz Bottle) | 3.95 $ | |
| Imported Beer (12 oz Small Bottle) | 3.60 $ | |
| Cigarettes (Pack of 20, Marlboro) | 13.92 $ | |
Transportation | Edit |
|
| One-Way Ticket (Local Transport) | 5.48 $ | |
| Monthly Public Transport Pass (Regular Price) | 88.40 $ | |
| Taxi Start (Standard Tariff) | 6.71 $ | |
| Taxi 1 mile (Standard Tariff) | 4.54 $ | |
| Taxi 1 Hour Waiting (Standard Tariff) | 73.67 $ | |
| Gasoline (1 Liter) | 2.51 $ | |
| Volkswagen Golf 1.5 (or Equivalent New Compact Car) | 50,667.10 $ | |
| Toyota Corolla Sedan 1.6 (or Equivalent New Mid-Size Car) | 53,603.59 $ | |
Utilities (Monthly) | Edit |
|
| Basic Utilities for 915 Square Feet Apartment (Electricity, Heating, Cooling, Water, Garbage) | 87.55 $ | |
| Mobile Phone Plan (Monthly, with Calls and 10GB+ Data) | 31.34 $ | |
| Broadband Internet (Unlimited Data, 60 Mbps or Higher) | 87.73 $ | |
Sports And Leisure | Edit |
|
| Monthly Fitness Club Membership | 94.49 $ | |
| Tennis Court Rental (1 Hour, Weekend) | 49.93 $ | |
| Cinema Ticket (International Release) | 18.50 $ | |
Childcare | Edit |
|
| Private Full-Day Preschool or Kindergarten, Monthly Fee per Child | 734.55 $ | |
| International Primary School, Annual Tuition per Child | 30,648.24 $ | |
Clothing And Shoes | Edit |
|
| Jeans (Levi's 501 or Similar) | 143.93 $ | |
| Summer Dress in a Chain Store (e.g. Zara or H&M) | 65.89 $ | |
| Nike Running Shoes (Mid-Range) | 175.67 $ | |
| Men's Leather Business Shoes | 249.20 $ | |
Rent Per Month | Edit |
|
| 1 Bedroom Apartment in City Centre | 2,413.38 $ | |
| 1 Bedroom Apartment Outside of City Centre | 2,064.42 $ | |
| 3 Bedroom Apartment in City Centre | 3,375.24 $ | |
| 3 Bedroom Apartment Outside of City Centre | 2,724.27 $ | |
Buy Apartment Price | Edit |
|
| Price per Square Feet to Buy Apartment in City Centre | 734.30 $ | |
| Price per Square Feet to Buy Apartment Outside of Centre | 595.79 $ | |
Salaries And Financing | Edit |
|
| Average Monthly Net Salary (After Tax) | 4,517.89 $ | |
| Annual Mortgage Interest Rate (20-Year Fixed, in %) | 8.74 | |
Prices in Reykjavik
This city had 497 entries in the past 12 months by 67 different contributors.
Last update: 10 February 2026
Last update: 10 February 2026
Sources and References
Moving to Reykjavik? Explore:
Distribution of Expenses Using Our Statistical Model:
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
|
 EspañolCoste de vida en Reikiavik
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These are private prep schools taught only in English (no Icelandic or whichever local language), which have a high standard (unlike Iceland, where children have low reading/writing/science skills and no grades or extracurricular activities where one has to excel) normally to get into ivy league schools in the U.S.
They exist all over the world :) and, as private schools, they're not free or have similar study programs as the local schools.
I hope this clarifies the difference (because you all added International in your comments, but don't seem to know what it means)
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