Cost of Living in Iceland
Summary of cost of living in Iceland:
- A family of four estimated monthly costs are 4,701.4$ (662,565.7kr) without rent.
- A single person estimated monthly costs are 1,271.3$ (179,167.3kr) without rent.
- Cost of living in Iceland is, on average, 15.7% higher than in United States.
- Rent in Iceland is, on average, 9.1% lower than in United States.
Restaurants |  Edit |
Range |
|---|---|---|
| Meal, Inexpensive Restaurant | 3,000.00 kr | |
| Meal for 2 People, Mid-range Restaurant, Three-course | 16,455.80 kr | |
| McMeal at McDonalds (or Equivalent Combo Meal) | 2,299.00 kr | |
| Domestic Beer (1 pint draught) | 1,400.00 kr | |
| Imported Beer (12 oz small bottle) | 1,200.00 kr | |
| Cappuccino (regular) | 676.98 kr | |
| Coke/Pepsi (12 oz small bottle) | 392.20 kr | |
| Water (12 oz small bottle) | 290.84 kr | |
Markets | Edit |
|
| Milk (regular), (1 gallon) | 842.21 kr | |
| Loaf of Fresh White Bread (1 lb) | 436.03 kr | |
| Rice (white), (1 lb) | 198.53 kr | |
| Eggs (regular) (12) | 795.73 kr | |
| Local Cheese (1 lb) | 916.39 kr | |
| Chicken Fillets (1 lb) | 1,164.19 kr | |
| Beef Round (1 lb) (or Equivalent Back Leg Red Meat) | 1,944.92 kr | |
| Apples (1 lb) | 197.06 kr | |
| Banana (1 lb) | 138.38 kr | |
| Oranges (1 lb) | 171.27 kr | |
| Tomato (1 lb) | 292.63 kr | |
| Potato (1 lb) | 192.81 kr | |
| Onion (1 lb) | 120.42 kr | |
| Lettuce (1 head) | 434.00 kr | |
| Water (1.5 liter bottle) | 293.73 kr | |
| Bottle of Wine (Mid-Range) | 2,750.00 kr | |
| Domestic Beer (0.5 liter bottle) | 439.70 kr | |
| Imported Beer (12 oz small bottle) | 369.58 kr | |
| Cigarettes 20 Pack (Marlboro) | 1,600.00 kr | |
Transportation | Edit |
|
| One-way Ticket (Local Transport) | 570.00 kr | |
| Monthly Pass (Regular Price) | 9,300.00 kr | |
| Taxi Start (Normal Tariff) | 730.00 kr | |
| Taxi 1 mile (Normal Tariff) | 521.43 kr | |
| Taxi 1hour Waiting (Normal Tariff) | 9,360.00 kr | |
| Gasoline (1 gallon) | 1,176.48 kr | |
| Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) | 5,195,000.00 kr | |
| Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) | 5,855,642.86 kr | |
Utilities (Monthly) | Edit |
|
| Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment | 14,781.13 kr | |
| Mobile Phone Monthly Plan with Calls and 10GB+ Data | 3,320.53 kr | |
| Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) | 9,870.17 kr | |
Sports And Leisure | Edit |
|
| Fitness Club, Monthly Fee for 1 Adult | 8,865.14 kr | |
| Tennis Court Rent (1 Hour on Weekend) | 4,248.33 kr | |
| Cinema, International Release, 1 Seat | 2,000.00 kr | |
Childcare | Edit |
|
| Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child | 37,538.56 kr | |
| International Primary School, Yearly for 1 Child | 776,250.00 kr | |
Clothing And Shoes | Edit |
|
| 1 Pair of Jeans (Levis 501 Or Similar) | 16,213.77 kr | |
| 1 Summer Dress in a Chain Store (Zara, H&M, ...) | 7,093.68 kr | |
| 1 Pair of Nike Running Shoes (Mid-Range) | 20,993.55 kr | |
| 1 Pair of Men Leather Business Shoes | 24,857.73 kr | |
Rent Per Month | Edit |
|
| Apartment (1 bedroom) in City Centre | 242,746.31 kr | |
| Apartment (1 bedroom) Outside of Centre | 216,076.93 kr | |
| Apartment (3 bedrooms) in City Centre | 341,073.17 kr | |
| Apartment (3 bedrooms) Outside of Centre | 309,000.00 kr | |
Buy Apartment Price | Edit |
|
| Price per Square Feet to Buy Apartment in City Centre | 74,530.04 kr | |
| Price per Square Feet to Buy Apartment Outside of Centre | 60,745.50 kr | |
Salaries And Financing | Edit |
|
| Average Monthly Net Salary (After Tax) | 579,333.72 kr | |
| Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate | 7.37 |
Prices in Iceland
This country had 1423 entries in the past 12 months by 197 different contributors.
Last update: April 2024
Our data for each country are based on all entries from all cities in that country.
Last update: April 2024
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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