Cost of Living in Iceland

Summary of cost of living in Iceland:

Restaurants
Edit Range
Meal, Inexpensive Restaurant 2,500.00 kr 1,890.00-4,500.00
Meal for 2 People, Mid-range Restaurant, Three-course 15,750.00 kr 10,000.00-22,000.00
McMeal at McDonalds (or Equivalent Combo Meal) 2,100.00 kr 1,800.00-2,500.00
Domestic Beer (1 pint draught) 1,300.00 kr 1,000.00-1,650.00
Imported Beer (12 oz small bottle) 1,000.00 kr 800.00-1,500.00
Cappuccino (regular) 627.40 kr 400.00-900.00
Coke/Pepsi (12 oz small bottle) 378.09 kr 270.00-510.25
Water (12 oz small bottle) 288.71 kr 200.00-480.00
Markets
Edit
Milk (regular), (1 gallon) 804.44 kr 632.16-1,093.98
Loaf of Fresh White Bread (1 lb) 421.45 kr 272.16-725.75
Rice (white), (1 lb) 191.10 kr 90.72-315.25
Eggs (regular) (12) 796.49 kr 589.00-1,140.00
Local Cheese (1 lb) 856.98 kr 544.31-1,331.75
Chicken Fillets (1 lb) 1,121.75 kr 816.47-1,401.15
Beef Round (1 lb) (or Equivalent Back Leg Red Meat) 1,799.25 kr 929.87-2,721.56
Apples (1 lb) 192.93 kr 113.40-339.74
Banana (1 lb) 141.77 kr 113.40-226.80
Oranges (1 lb) 163.03 kr 122.02-405.06
Tomato (1 lb) 293.61 kr 137.79-453.59
Potato (1 lb) 176.39 kr 90.72-244.49
Onion (1 lb) 97.14 kr 49.90-226.80
Lettuce (1 head) 405.71 kr 200.00-700.00
Water (1.5 liter bottle) 269.32 kr 108.00-500.00
Bottle of Wine (Mid-Range) 2,700.00 kr 1,990.00-4,500.00
Domestic Beer (0.5 liter bottle) 430.47 kr 330.00-590.91
Imported Beer (12 oz small bottle) 365.93 kr 280.00-479.00
Cigarettes 20 Pack (Marlboro) 1,600.00 kr 1,450.00-1,990.00
Transportation
Edit
One-way Ticket (Local Transport) 550.00 kr 490.00-590.00
Monthly Pass (Regular Price) 9,000.00 kr 8,000.00-13,000.00
Taxi Start (Normal Tariff) 730.00 kr 700.00-1,000.00
Taxi 1 mile (Normal Tariff) 532.69 kr 402.34-782.14
Taxi 1hour Waiting (Normal Tariff) 9,177.00 kr 8,000.00-9,900.00
Gasoline (1 gallon) 1,182.81 kr 994.97-1,309.01
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) 5,000,000.00 kr 4,390,000.00-5,790,000.00
Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) 5,584,937.50 kr 4,930,000.00-6,190,000.00
Utilities (Monthly)
Edit
Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment 14,856.40 kr 7,200.00-25,000.00
Mobile Phone Monthly Plan with Calls and 10GB+ Data 3,152.67 kr 2,500.00-5,000.00
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) 9,490.30 kr 6,500.00-14,000.00
Sports And Leisure
Edit
Fitness Club, Monthly Fee for 1 Adult 8,760.94 kr 6,500.00-14,500.00
Tennis Court Rent (1 Hour on Weekend) 4,248.33 kr 2,600.00-6,000.00
Cinema, International Release, 1 Seat 1,970.00 kr 1,500.00-2,400.00
Childcare
Edit
Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child 35,801.00 kr 30,000.00-50,000.00
International Primary School, Yearly for 1 Child 776,250.00 kr 610,000.00-1,250,000.00
Clothing And Shoes
Edit
1 Pair of Jeans (Levis 501 Or Similar) 15,805.45 kr 8,200.00-20,000.00
1 Summer Dress in a Chain Store (Zara, H&M, ...) 6,489.76 kr 3,800.00-16,000.00
1 Pair of Nike Running Shoes (Mid-Range) 20,302.50 kr 10,300.00-25,000.00
1 Pair of Men Leather Business Shoes 25,451.09 kr 15,250.00-35,000.00
Rent Per Month
Edit
Apartment (1 bedroom) in City Centre 222,604.27 kr 180,000.00-286,000.00
Apartment (1 bedroom) Outside of Centre 192,126.21 kr 130,000.00-265,000.00
Apartment (3 bedrooms) in City Centre 328,195.65 kr 251,000.00-450,000.00
Apartment (3 bedrooms) Outside of Centre 283,829.27 kr 211,000.00-400,000.00
Buy Apartment Price
Edit
Price per Square Feet to Buy Apartment in City Centre 72,928.99 kr 55,741.36-92,902.27
Price per Square Feet to Buy Apartment Outside of Centre 58,014.48 kr 46,451.13-78,966.93
Salaries And Financing
Edit
Average Monthly Net Salary (After Tax) 585,832.62 kr
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 6.76 3.70-10.00

Prices in Iceland

This country had 2115 entries in the past 12 months by 280 different contributors.
Last update: September 2023
Our data for each country are based on all entries from all cities in that country.
Sources and References
Distribution of Expenses Using Our Statistical Model:
  
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