Cost of Living Comparison Between Australia and Iceland 
| Indices Difference |  |
|---|---|
| Cost of Living in Iceland is 46.0% higher than in Australia (excluding rent) | |
| Cost of Living Including Rent in Iceland is 48.3% higher than in Australia | |
| Rent Prices in Iceland are 53.9% higher than in Australia | |
| Restaurant Prices in Iceland are 69.7% higher than in Australia | |
| Groceries Prices in Iceland are 40.0% higher than in Australia | |
| Local Purchasing Power in Iceland is 17.5% lower than in Australia | |
Restaurants | Australia Edit |
Iceland Edit | Difference |
|---|---|---|---|
| Meal, Inexpensive Restaurant |
25.00 A$ (2,034.59 kr) |
38.09 A$ (3,100.00 kr) |
+52.4 % |
| Meal for 2 People, Mid-range Restaurant, Three-course |
120.00 A$ (9,766.05 kr) |
215.03 A$ (17,500.00 kr) |
+79.2 % |
| McMeal at McDonalds (or Equivalent Combo Meal) |
15.00 A$ (1,220.76 kr) |
30.72 A$ (2,500.00 kr) |
+104.8 % |
| Domestic Beer (1 pint draught) |
10.00 A$ (813.84 kr) |
18.43 A$ (1,500.00 kr) |
+84.3 % |
| Imported Beer (12 oz small bottle) |
11.00 A$ (895.22 kr) |
15.84 A$ (1,288.85 kr) |
+44.0 % |
| Cappuccino (regular) |
5.36 A$ (436.05 kr) |
9.21 A$ (749.47 kr) |
+71.9 % |
| Coke/Pepsi (12 oz small bottle) |
4.06 A$ (330.07 kr) |
5.02 A$ (408.60 kr) |
+23.8 % |
| Water (12 oz small bottle) |
3.33 A$ (271.00 kr) |
4.02 A$ (327.01 kr) |
+20.7 % |
Markets | Australia Edit |
Iceland Edit | |
| Milk (regular), (1 gallon) |
8.93 A$ (727.12 kr) |
10.95 A$ (891.09 kr) |
+22.5 % |
| Loaf of Fresh White Bread (1 lb) |
3.42 A$ (278.23 kr) |
5.54 A$ (450.97 kr) |
+62.1 % |
| Rice (white), (1 lb) |
1.45 A$ (117.75 kr) |
2.44 A$ (198.51 kr) |
+68.6 % |
| Eggs (regular) (12) |
6.59 A$ (536.30 kr) |
9.97 A$ (811.62 kr) |
+51.3 % |
| Local Cheese (1 lb) |
6.28 A$ (511.41 kr) |
12.65 A$ (1,029.73 kr) |
+101.4 % |
| Chicken Fillets (1 lb) |
5.92 A$ (481.99 kr) |
16.59 A$ (1,350.40 kr) |
+180.2 % |
| Beef Round (1 lb) (or Equivalent Back Leg Red Meat) |
9.73 A$ (792.01 kr) |
28.59 A$ (2,326.81 kr) |
+193.8 % |
| Apples (1 lb) |
2.22 A$ (180.77 kr) |
2.15 A$ (175.18 kr) |
-3.1 % |
| Banana (1 lb) |
1.92 A$ (155.99 kr) |
1.72 A$ (139.94 kr) |
-10.3 % |
| Oranges (1 lb) |
2.03 A$ (165.21 kr) |
2.01 A$ (163.99 kr) |
-0.7 % |
| Tomato (1 lb) |
2.98 A$ (242.56 kr) |
3.52 A$ (286.79 kr) |
+18.2 % |
| Potato (1 lb) |
1.71 A$ (139.31 kr) |
2.50 A$ (203.14 kr) |
+45.8 % |
| Onion (1 lb) |
1.50 A$ (121.85 kr) |
1.55 A$ (126.15 kr) |
+3.5 % |
| Lettuce (1 head) |
3.39 A$ (275.67 kr) |
4.94 A$ (402.25 kr) |
+45.9 % |
| Water (1.5 liter bottle) |
2.32 A$ (188.50 kr) |
3.44 A$ (280.35 kr) |
+48.7 % |
| Bottle of Wine (Mid-Range) |
20.00 A$ (1,627.67 kr) |
36.86 A$ (3,000.00 kr) |
+84.3 % |
| Domestic Beer (0.5 liter bottle) |
6.88 A$ (559.54 kr) |
5.68 A$ (462.58 kr) |
-17.3 % |
| Imported Beer (12 oz small bottle) |
7.58 A$ (616.80 kr) |
4.78 A$ (389.06 kr) |
-36.9 % |
| Cigarettes 20 Pack (Marlboro) |
48.00 A$ (3,906.42 kr) |
21.20 A$ (1,725.00 kr) |
-55.8 % |
Transportation | Australia Edit |
Iceland Edit | |
| One-way Ticket (Local Transport) |
4.60 A$ (374.37 kr) |
7.99 A$ (650.00 kr) |
+73.6 % |
| Monthly Pass (Regular Price) |
150.00 A$ (12,207.56 kr) |
127.79 A$ (10,400.00 kr) |
-14.8 % |
| Taxi Start (Normal Tariff) |
6.00 A$ (488.30 kr) |
9.71 A$ (790.00 kr) |
+61.8 % |
| Taxi 1 mile (Normal Tariff) |
4.35 A$ (353.63 kr) |
6.41 A$ (521.43 kr) |
+47.4 % |
| Taxi 1hour Waiting (Normal Tariff) |
58.00 A$ (4,720.26 kr) |
130.49 A$ (10,620.00 kr) |
+125.0 % |
| Gasoline (1 gallon) |
6.94 A$ (564.61 kr) |
14.52 A$ (1,182.00 kr) |
+109.3 % |
| Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) |
44,423.00 A$ (3,615,309.03 kr) |
72,373.20 A$ (5,890,000.00 kr) |
+62.9 % |
| Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) |
34,934.26 A$ (2,843,079.84 kr) |
81,916.46 A$ (6,666,666.67 kr) |
+134.5 % |
Utilities (Monthly) | Australia Edit |
Iceland Edit | |
| Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment |
270.21 A$ (21,990.48 kr) |
134.24 A$ (10,924.64 kr) |
-50.3 % |
| Mobile Phone Monthly Plan with Calls and 10GB+ Data |
41.31 A$ (3,362.25 kr) |
42.12 A$ (3,427.78 kr) |
+1.9 % |
| Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) |
81.37 A$ (6,622.43 kr) |
126.16 A$ (10,267.58 kr) |
+55.0 % |
Sports And Leisure | Australia Edit |
Iceland Edit | |
| Fitness Club, Monthly Fee for 1 Adult |
73.24 A$ (5,960.19 kr) |
123.71 A$ (10,068.26 kr) |
+68.9 % |
| Tennis Court Rent (1 Hour on Weekend) |
25.81 A$ (2,100.35 kr) |
59.18 A$ (4,816.67 kr) |
+129.3 % |
| Cinema, International Release, 1 Seat |
22.00 A$ (1,790.44 kr) |
26.91 A$ (2,190.00 kr) |
+22.3 % |
Childcare | Australia Edit |
Iceland Edit | |
| Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child |
2,431.61 A$ (197,893.68 kr) |
521.91 A$ (42,475.25 kr) |
-78.5 % |
| International Primary School, Yearly for 1 Child |
19,162.60 A$ (1,559,523.57 kr) |
46,007.91 A$ (3,744,295.00 kr) |
+140.1 % |
Clothing And Shoes | Australia Edit |
Iceland Edit | |
| 1 Pair of Jeans (Levis 501 Or Similar) |
110.45 A$ (8,989.23 kr) |
213.27 A$ (17,356.84 kr) |
+93.1 % |
| 1 Summer Dress in a Chain Store (Zara, H&M, ...) |
78.59 A$ (6,396.02 kr) |
91.37 A$ (7,436.25 kr) |
+16.3 % |
| 1 Pair of Nike Running Shoes (Mid-Range) |
157.16 A$ (12,790.37 kr) |
269.03 A$ (21,895.00 kr) |
+71.2 % |
| 1 Pair of Men Leather Business Shoes |
170.19 A$ (13,850.60 kr) |
364.77 A$ (29,685.94 kr) |
+114.3 % |
Rent Per Month | Australia Edit |
Iceland Edit | |
| Apartment (1 bedroom) in City Centre |
2,128.15 A$ (173,197.10 kr) |
3,407.21 A$ (277,291.67 kr) |
+60.1 % |
| Apartment (1 bedroom) Outside of Centre |
1,684.96 A$ (137,128.21 kr) |
3,063.39 A$ (249,310.34 kr) |
+81.8 % |
| Apartment (3 bedrooms) in City Centre |
3,580.11 A$ (291,362.84 kr) |
4,840.79 A$ (393,961.54 kr) |
+35.2 % |
| Apartment (3 bedrooms) Outside of Centre |
2,655.08 A$ (216,080.37 kr) |
4,154.07 A$ (338,074.07 kr) |
+56.5 % |
Buy Apartment Price | Australia Edit |
Iceland Edit | |
| Price per Square Feet to Buy Apartment in City Centre |
965.53 A$ (78,578.58 kr) |
1,052.02 A$ (85,617.11 kr) |
+9.0 % |
| Price per Square Feet to Buy Apartment Outside of Centre |
723.55 A$ (58,885.31 kr) |
895.74 A$ (72,898.79 kr) |
+23.8 % |
Salaries And Financing | Australia Edit |
Iceland Edit | |
| Average Monthly Net Salary (After Tax) |
5,539.93 A$ (450,860.19 kr) |
6,777.58 A$ (551,584.93 kr) |
+22.3 % |
| Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate | 6.36 | 9.76 | +53.4 % |
| Last update: | April 2025 | March 2025 | |
| Contributors in the past 12 months: | 1540 | 143 |
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