Cost of Living in Iceland
Summary of cost of living in Iceland:
- A family of four estimated monthly costs are 4,326.8$ (610,204.5kr) without rent.
- A single person estimated monthly costs are 1,175.0$ (165,713.8kr) without rent.
- Cost of living in Iceland is, on average, 15.6% higher than in United States.
- Rent in Iceland is, on average, 19.1% lower than in United States.
Restaurants |  Edit |
Range |
|---|---|---|
| Meal, Inexpensive Restaurant | 2,565.04 kr | |
| Meal for 2 People, Mid-range Restaurant, Three-course | 15,000.00 kr | |
| McMeal at McDonalds (or Equivalent Combo Meal) | 2,006.75 kr | |
| Domestic Beer (1 pint draught) | 1,295.00 kr | |
| Imported Beer (12 oz small bottle) | 1,050.00 kr | |
| Cappuccino (regular) | 628.27 kr | |
| Coke/Pepsi (12 oz small bottle) | 370.46 kr | |
| Water (12 oz small bottle) | 287.61 kr | |
Markets | Edit |
|
| Milk (regular), (1 gallon) | 785.23 kr | |
| Loaf of Fresh White Bread (1 lb) | 405.63 kr | |
| Rice (white), (1 lb) | 189.57 kr | |
| Eggs (regular) (12) | 786.75 kr | |
| Local Cheese (1 lb) | 827.61 kr | |
| Chicken Fillets (1 lb) | 1,065.00 kr | |
| Beef Round (1 lb) (or Equivalent Back Leg Red Meat) | 1,729.66 kr | |
| Apples (1 lb) | 197.81 kr | |
| Banana (1 lb) | 140.29 kr | |
| Oranges (1 lb) | 164.18 kr | |
| Tomato (1 lb) | 293.54 kr | |
| Potato (1 lb) | 170.01 kr | |
| Onion (1 lb) | 90.14 kr | |
| Lettuce (1 head) | 396.32 kr | |
| Water (1.5 liter bottle) | 272.00 kr | |
| Bottle of Wine (Mid-Range) | 2,749.50 kr | |
| Domestic Beer (0.5 liter bottle) | 422.16 kr | |
| Imported Beer (12 oz small bottle) | 362.84 kr | |
| Cigarettes 20 Pack (Marlboro) | 1,600.00 kr | |
Transportation | Edit |
|
| One-way Ticket (Local Transport) | 500.00 kr | |
| Monthly Pass (Regular Price) | 9,000.00 kr | |
| Taxi Start (Normal Tariff) | 730.00 kr | |
| Taxi 1 mile (Normal Tariff) | 482.80 kr | |
| Taxi 1hour Waiting (Normal Tariff) | 8,000.00 kr | |
| Gasoline (1 gallon) | 1,170.39 kr | |
| Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) | 4,500,000.00 kr | |
| Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) | 5,129,421.05 kr | |
Utilities (Monthly) | Edit |
|
| Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment | 14,572.29 kr | |
| 1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) | 11.21 kr | |
| Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) | 8,986.33 kr | |
Sports And Leisure | Edit |
|
| Fitness Club, Monthly Fee for 1 Adult | 8,598.69 kr | |
| Tennis Court Rent (1 Hour on Weekend) | 4,819.58 kr | |
| Cinema, International Release, 1 Seat | 1,800.00 kr | |
Childcare | Edit |
|
| Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child | 36,821.95 kr | |
| International Primary School, Yearly for 1 Child | 567,833.33 kr | |
Clothing And Shoes | Edit |
|
| 1 Pair of Jeans (Levis 501 Or Similar) | 15,911.93 kr | |
| 1 Summer Dress in a Chain Store (Zara, H&M, ...) | 7,011.46 kr | |
| 1 Pair of Nike Running Shoes (Mid-Range) | 20,774.06 kr | |
| 1 Pair of Men Leather Business Shoes | 24,707.12 kr | |
Rent Per Month | Edit |
|
| Apartment (1 bedroom) in City Centre | 213,318.30 kr | |
| Apartment (1 bedroom) Outside of Centre | 182,032.23 kr | |
| Apartment (3 bedrooms) in City Centre | 300,219.51 kr | |
| Apartment (3 bedrooms) Outside of Centre | 258,813.65 kr | |
Buy Apartment Price | Edit |
|
| Price per Square Feet to Buy Apartment in City Centre | 70,299.55 kr | |
| Price per Square Feet to Buy Apartment Outside of Centre | 53,432.46 kr | |
Salaries And Financing | Edit |
|
| Average Monthly Net Salary (After Tax) | 574,819.24 kr | |
| Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate | 5.98 |
Prices in Iceland
This country had 1794 entries in the past 12 months by 235 different contributors.
Last update: June 2023
Our data for each country are based on all entries from all cities in that country.
Last update: June 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
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 PortuguêsCusto de Vida na Islândia
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 ItalianoCosto della Vita in Islanda
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 FrançaisCoût de la Vie en Islande
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 EspañolCosto de Vida en Islandia
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