Cost of Living in Iceland

Summary of cost of living in Iceland:

Restaurants
Edit Range
Meal, Inexpensive Restaurant 3,000.00 kr 1,990.00-5,000.00
Meal for 2 People, Mid-range Restaurant, Three-course 16,490.00 kr 10,000.00-28,000.00
McMeal at McDonalds (or Equivalent Combo Meal) 2,299.00 kr 1,990.00-2,500.00
Domestic Beer (1 pint draught) 1,400.00 kr 903.00-1,800.00
Imported Beer (12 oz small bottle) 1,200.00 kr 850.00-1,836.09
Cappuccino (regular) 677.26 kr 425.22-1,000.00
Coke/Pepsi (12 oz small bottle) 392.49 kr 280.00-526.75
Water (12 oz small bottle) 290.96 kr 200.00-480.00
Markets
Edit
Milk (regular), (1 gallon) 849.34 kr 632.16-1,139.41
Loaf of Fresh White Bread (1 lb) 434.35 kr 268.53-907.19
Rice (white), (1 lb) 197.58 kr 117.93-315.25
Eggs (regular) (12) 800.15 kr 598.00-1,140.00
Local Cheese (1 lb) 922.77 kr 544.31-1,360.78
Chicken Fillets (1 lb) 1,175.50 kr 816.47-1,587.58
Beef Round (1 lb) (or Equivalent Back Leg Red Meat) 1,965.84 kr 1,043.26-3,129.79
Apples (1 lb) 191.99 kr 113.40-339.74
Banana (1 lb) 137.77 kr 113.40-226.80
Oranges (1 lb) 167.58 kr 124.74-405.06
Tomato (1 lb) 296.41 kr 141.74-453.59
Potato (1 lb) 192.84 kr 102.06-317.52
Onion (1 lb) 112.21 kr 49.90-235.87
Lettuce (1 head) 428.48 kr 200.00-700.00
Water (1.5 liter bottle) 285.14 kr 108.00-529.00
Bottle of Wine (Mid-Range) 2,800.00 kr 2,000.00-4,500.00
Domestic Beer (0.5 liter bottle) 433.88 kr 330.00-600.00
Imported Beer (12 oz small bottle) 369.58 kr 250.00-500.00
Cigarettes 20 Pack (Marlboro) 1,600.00 kr 1,489.00-2,000.00
Transportation
Edit
One-way Ticket (Local Transport) 570.00 kr 490.00-630.00
Monthly Pass (Regular Price) 9,300.00 kr 8,000.00-13,000.00
Taxi Start (Normal Tariff) 730.00 kr 700.00-890.00
Taxi 1 mile (Normal Tariff) 521.43 kr 460.27-772.49
Taxi 1hour Waiting (Normal Tariff) 9,360.00 kr 8,000.00-12,000.00
Gasoline (1 gallon) 1,176.48 kr 994.97-1,268.11
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) 5,195,000.00 kr 4,500,000.00-5,790,000.00
Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) 5,855,642.86 kr 5,090,000.00-7,000,000.00
Utilities (Monthly)
Edit
Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment 14,792.66 kr 7,000.00-25,000.00
Mobile Phone Monthly Plan with Calls and 10GB+ Data 3,320.53 kr 2,600.00-5,000.00
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) 9,874.17 kr 6,500.00-15,400.00
Sports And Leisure
Edit
Fitness Club, Monthly Fee for 1 Adult 8,865.14 kr 6,666.67-14,000.00
Tennis Court Rent (1 Hour on Weekend) 4,248.33 kr 2,600.00-6,000.00
Cinema, International Release, 1 Seat 2,000.00 kr 1,600.00-2,300.00
Childcare
Edit
Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child 37,538.56 kr 30,500.00-50,000.00
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) 16,213.77 kr 8,200.00-20,000.00
1 Summer Dress in a Chain Store (Zara, H&M, ...) 7,093.68 kr 3,800.00-16,000.00
1 Pair of Nike Running Shoes (Mid-Range) 20,993.55 kr 10,300.00-27,000.00
1 Pair of Men Leather Business Shoes 24,857.73 kr 15,250.00-35,000.00
Rent Per Month
Edit
Apartment (1 bedroom) in City Centre 242,774.09 kr 170,088.00-300,000.00
Apartment (1 bedroom) Outside of Centre 216,076.38 kr 143,000.00-280,000.00
Apartment (3 bedrooms) in City Centre 341,073.17 kr 255,000.00-475,000.00
Apartment (3 bedrooms) Outside of Centre 309,000.00 kr 220,000.00-450,000.00
Buy Apartment Price
Edit
Price per Square Feet to Buy Apartment in City Centre 74,530.04 kr 55,741.36-102,192.49
Price per Square Feet to Buy Apartment Outside of Centre 60,758.04 kr 46,451.13-83,612.04
Salaries And Financing
Edit
Average Monthly Net Salary (After Tax) 579,479.34 kr
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 7.37 3.69-10.50

Prices in Iceland

This country had 1404 entries in the past 12 months by 195 different contributors.
Last update: April 2024
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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