Cost of Living in Iceland
Summary of cost of living in Iceland:
- The estimated monthly costs for a family of four are $5,959.8 (723,875.8 kr), excluding rent.
- The estimated monthly costs for a single person are $1,578.8 (191,757.0 kr), excluding rent.
- Cost of living in Iceland is, on average, 48.6% higher than in United States.
- Rent in Iceland is, on average, 34.9% higher than in United States.
Restaurants |  Edit |
Range |
|---|---|---|
| Meal at an Inexpensive Restaurant | 3,500.00 kr | |
| Meal for Two at a Mid-Range Restaurant (Three Courses, Without Drinks) | 15,000.00 kr | |
| Combo Meal at McDonald's (or Equivalent Fast-Food Meal) | 2,945.00 kr | |
| Domestic Draft Beer (1 Pint) | 1,500.00 kr | |
| Imported Beer (12 oz Small Bottle) | 1,500.00 kr | |
| Cappuccino (Regular Size) | 763.55 kr | |
| Soft Drink (Coca-Cola or Pepsi, 12 oz Small Bottle) | 390.21 kr | |
| Bottled Water (12 oz) | 367.49 kr | |
Markets | Edit |
|
| Milk (Regular, 1 Liter) | 250.67 kr | |
| Fresh White Bread (1 lb Loaf) | 443.25 kr | |
| White Rice (1 lb) | 194.35 kr | |
| Eggs (12, Large Size) | 852.41 kr | |
| Local Cheese (1 lb) | 1,153.30 kr | |
| Chicken Fillets (1 lb) | 1,366.79 kr | |
| Beef Round or Equivalent Back Leg Red Meat (1 lb) | 2,302.55 kr | |
| Apples (1 lb) | 171.19 kr | |
| Bananas (1 lb) | 149.35 kr | |
| Oranges (1 lb) | 175.81 kr | |
| Tomatoes (1 lb) | 326.83 kr | |
| Potatoes (1 lb) | 215.91 kr | |
| Onions (1 lb) | 104.07 kr | |
| Lettuce (1 Head) | 451.33 kr | |
| Bottled Water (50 oz) | 231.58 kr | |
| Bottle of Wine (Mid-Range) | 2,800.00 kr | |
| Domestic Beer (16.9 oz Bottle) | 450.36 kr | |
| Imported Beer (12 oz Small Bottle) | 402.00 kr | |
| Cigarettes (Pack of 20, Marlboro) | 1,725.00 kr | |
Transportation | Edit |
|
| One-Way Ticket (Local Transport) | 670.00 kr | |
| Monthly Public Transport Pass (Regular Price) | 11,200.00 kr | |
| Taxi Start (Standard Tariff) | 820.00 kr | |
| Taxi 1 mile (Standard Tariff) | 555.22 kr | |
| Taxi 1 Hour Waiting (Standard Tariff) | 9,810.00 kr | |
| Gasoline (1 Liter) | 280.92 kr | |
| Volkswagen Golf 1.5 (or Equivalent New Compact Car) | 8,390,000.00 kr | |
| Toyota Corolla Sedan 1.6 (or Equivalent New Mid-Size Car) | 6,803,333.33 kr | |
Utilities (Monthly) | Edit |
|
| Basic Utilities for 915 Square Feet Apartment (Electricity, Heating, Cooling, Water, Garbage) | 12,438.25 kr | |
| Mobile Phone Plan (Monthly, with Calls and 10GB+ Data) | 3,924.67 kr | |
| Broadband Internet (Unlimited Data, 60 Mbps or Higher) | 10,936.08 kr | |
Sports And Leisure | Edit |
|
| Monthly Fitness Club Membership | 11,114.24 kr | |
| Tennis Court Rental (1 Hour, Weekend) | 6,350.00 kr | |
| Cinema Ticket (International Release) | 2,350.00 kr | |
Childcare | Edit |
|
| Private Full-Day Preschool or Kindergarten, Monthly Fee per Child | 114,467.92 kr | |
| International Primary School, Annual Tuition per Child | 3,163,436.00 kr | |
Clothing And Shoes | Edit |
|
| Jeans (Levi's 501 or Similar) | 18,236.92 kr | |
| Summer Dress in a Chain Store (e.g. Zara or H&M) | 5,923.75 kr | |
| Nike Running Shoes (Mid-Range) | 21,000.00 kr | |
| Men's Leather Business Shoes | 28,666.67 kr | |
Rent Per Month | Edit |
|
| 1 Bedroom Apartment in City Centre | 300,538.46 kr | |
| 1 Bedroom Apartment Outside of City Centre | 239,352.94 kr | |
| 3 Bedroom Apartment in City Centre | 416,071.43 kr | |
| 3 Bedroom Apartment Outside of City Centre | 328,937.50 kr | |
Buy Apartment Price | Edit |
|
| Price per Square Feet to Buy Apartment in City Centre | 87,609.14 kr | |
| Price per Square Feet to Buy Apartment Outside of Centre | 71,506.04 kr | |
Salaries And Financing | Edit |
|
| Average Monthly Net Salary (After Tax) | 578,788.56 kr | |
| Annual Mortgage Interest Rate (20-Year Fixed, in %) | 9.29 | |
Prices in Iceland
This country had 715 entries in the past 12 months by 98 different contributors.
Last update: 15 October 2026
Our data for each country are based on all entries from all cities in that country.
Last update: 15 October 2026
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:
Salary Calculator:Got a job offer in Iceland? Estimate your take-home pay with our Salary Calculator for Iceland.
Moving to Iceland? Explore:
This Page in Other Languages:
 DeutschLebenshaltungskosten in Island
|
 PortuguêsCusto de Vida na Islândia
|
 ItalianoCosto della vita in Islanda
|
 FrançaisCoût de la vie en Islande
|
 EspañolCoste de vida en Islandia
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