Cost of Living in Iceland
Summary:
- Family of four estimated monthly costs are 4,379.4$ (601,464.0kr) without rent.
- A single person estimated monthly costs are 1,190.9$ (163,555.5kr) without rent.
- Cost of living in Iceland is, on average, 20.2% higher than in United States.
- Rent in Iceland is, on average, 16.6% lower than in United States.
Restaurants |  Edit |
Range |
|---|---|---|
| Meal, Inexpensive Restaurant | 2,500.00 kr | |
| Meal for 2 People, Mid-range Restaurant, Three-course | 15,000.00 kr | |
| McMeal at McDonalds (or Equivalent Combo Meal) | 2,000.00 kr | |
| Domestic Beer (1 pint draught) | 1,200.00 kr | |
| Imported Beer (12 oz small bottle) | 1,000.00 kr | |
| Cappuccino (regular) | 617.22 kr | |
| Coke/Pepsi (12 oz small bottle) | 357.82 kr | |
| Water (12 oz small bottle) | 287.20 kr | |
Markets | Edit |
|
| Milk (regular), (1 gallon) | 772.65 kr | |
| Loaf of Fresh White Bread (1 lb) | 399.71 kr | |
| Rice (white), (1 lb) | 191.17 kr | |
| Eggs (regular) (12) | 740.05 kr | |
| Local Cheese (1 lb) | 824.08 kr | |
| Chicken Fillets (1 lb) | 1,044.67 kr | |
| Beef Round (1 lb) (or Equivalent Back Leg Red Meat) | 1,678.23 kr | |
| Apples (1 lb) | 203.32 kr | |
| Banana (1 lb) | 138.41 kr | |
| Oranges (1 lb) | 166.98 kr | |
| Tomato (1 lb) | 282.73 kr | |
| Potato (1 lb) | 166.35 kr | |
| Onion (1 lb) | 85.02 kr | |
| Lettuce (1 head) | 396.74 kr | |
| Water (1.5 liter bottle) | 278.82 kr | |
| Bottle of Wine (Mid-Range) | 2,500.00 kr | |
| Domestic Beer (0.5 liter bottle) | 419.21 kr | |
| Imported Beer (12 oz small bottle) | 365.12 kr | |
| Cigarettes 20 Pack (Marlboro) | 1,600.00 kr | |
Transportation | Edit |
|
| One-way Ticket (Local Transport) | 500.00 kr | |
| Monthly Pass (Regular Price) | 8,110.00 kr | |
| Taxi Start (Normal Tariff) | 730.00 kr | |
| Taxi 1 mile (Normal Tariff) | 634.08 kr | |
| Taxi 1hour Waiting (Normal Tariff) | 8,000.00 kr | |
| Gasoline (1 gallon) | 1,164.11 kr | |
| Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) | 4,400,000.00 kr | |
| Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) | 5,015,823.53 kr | |
Utilities (Monthly) | Edit |
|
| Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment | 14,786.78 kr | |
| 1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) | 11.93 kr | |
| Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) | 9,230.67 kr | |
Sports And Leisure | Edit |
|
| Fitness Club, Monthly Fee for 1 Adult | 8,633.16 kr | |
| Tennis Court Rent (1 Hour on Weekend) | 4,985.00 kr | |
| Cinema, International Release, 1 Seat | 1,800.00 kr | |
Childcare | Edit |
|
| Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child | 36,435.00 kr | |
| International Primary School, Yearly for 1 Child | 567,833.33 kr | |
Clothing And Shoes | Edit |
|
| 1 Pair of Jeans (Levis 501 Or Similar) | 15,702.00 kr | |
| 1 Summer Dress in a Chain Store (Zara, H&M, ...) | 7,094.79 kr | |
| 1 Pair of Nike Running Shoes (Mid-Range) | 20,159.00 kr | |
| 1 Pair of Men Leather Business Shoes | 24,581.96 kr | |
Rent Per Month | Edit |
|
| Apartment (1 bedroom) in City Centre | 210,139.65 kr | |
| Apartment (1 bedroom) Outside of Centre | 176,259.08 kr | |
| Apartment (3 bedrooms) in City Centre | 293,600.00 kr | |
| Apartment (3 bedrooms) Outside of Centre | 253,746.28 kr | |
Buy Apartment Price | Edit |
|
| Price per Square Feet to Buy Apartment in City Centre | 70,721.83 kr | |
| Price per Square Feet to Buy Apartment Outside of Centre | 52,712.65 kr | |
Salaries And Financing | Edit |
|
| Average Monthly Net Salary (After Tax) | 559,079.20 kr | |
| Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate | 5.79 |
Prices in Iceland
This country had 1554 entries in the past 12 months by 213 different contributors.
Last update: March 2023
Our data for each country are based on all entries from all cities in that country.
Last update: March 2023
Our data for each country are based on all entries from all cities in that country.
Sources and References
Moving to Iceland? Explore:
Distribution of Expenses Using Our Statistical Model:
This page in other languages:
 DeutschLebenshaltungskosten in Island
|
 PortuguêsCusto de Vida na Islândia
|
 ItalianoCosto della Vita in Islanda
|
 FrançaisCoût de la Vie en Islande
|
 EspañolCosto de Vida en Islandia
|