Cost of Living Comparison Between Iceland and Norway 
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| Indices Difference |  |
|---|---|
| Cost of Living in Norway is 13.3% lower than in Iceland (without rent) | |
| Cost of Living Including Rent in Norway is 21.4% lower than in Iceland | |
| Rent Prices in Norway are 41.0% lower than in Iceland | |
| Restaurant Prices in Norway are 17.3% lower than in Iceland | |
| Groceries Prices in Norway are 16.9% lower than in Iceland | |
| Local Purchasing Power in Norway is 8.5% higher than in Iceland | |
Restaurants | Iceland Edit |
Norway Edit | Difference |
|---|---|---|---|
| Meal, Inexpensive Restaurant |
3,100.00 ISK (243.54 NOK) |
2,921.32 ISK (229.50 NOK) |
-5.8 % |
| Meal for 2 People, Mid-range Restaurant, Three-course |
17,500.00 ISK (1,374.81 NOK) |
12,729.08 ISK (1,000.00 NOK) |
-27.3 % |
| McMeal at McDonalds (or Equivalent Combo Meal) |
2,500.00 ISK (196.40 NOK) |
1,782.07 ISK (140.00 NOK) |
-28.7 % |
| Domestic Beer (1 pint draught) |
1,500.00 ISK (117.84 NOK) |
1,400.20 ISK (110.00 NOK) |
-6.7 % |
| Imported Beer (12 oz small bottle) |
1,300.00 ISK (102.13 NOK) |
1,272.91 ISK (100.00 NOK) |
-2.1 % |
| Cappuccino (regular) |
751.77 ISK (59.06 NOK) |
639.07 ISK (50.21 NOK) |
-15.0 % |
| Coke/Pepsi (12 oz small bottle) |
410.02 ISK (32.21 NOK) |
439.96 ISK (34.56 NOK) |
+7.3 % |
| Water (12 oz small bottle) |
328.41 ISK (25.80 NOK) |
365.09 ISK (28.68 NOK) |
+11.2 % |
Markets | Iceland Edit |
Norway Edit | |
| Milk (regular), (1 gallon) |
876.70 ISK (68.87 NOK) |
1,099.60 ISK (86.38 NOK) |
+25.4 % |
| Loaf of Fresh White Bread (1 lb) |
456.11 ISK (35.83 NOK) |
388.41 ISK (30.51 NOK) |
-14.8 % |
| Rice (white), (1 lb) |
198.51 ISK (15.60 NOK) |
187.70 ISK (14.75 NOK) |
-5.4 % |
| Eggs (regular) (12) |
811.62 ISK (63.76 NOK) |
568.26 ISK (44.64 NOK) |
-30.0 % |
| Local Cheese (1 lb) |
1,029.73 ISK (80.90 NOK) |
691.42 ISK (54.32 NOK) |
-32.9 % |
| Chicken Fillets (1 lb) |
1,350.40 ISK (106.09 NOK) |
867.78 ISK (68.17 NOK) |
-35.7 % |
| Beef Round (1 lb) (or Equivalent Back Leg Red Meat) |
2,326.81 ISK (182.80 NOK) |
1,693.09 ISK (133.01 NOK) |
-27.2 % |
| Apples (1 lb) |
175.18 ISK (13.76 NOK) |
194.28 ISK (15.26 NOK) |
+10.9 % |
| Banana (1 lb) |
139.94 ISK (10.99 NOK) |
146.50 ISK (11.51 NOK) |
+4.7 % |
| Oranges (1 lb) |
163.99 ISK (12.88 NOK) |
189.19 ISK (14.86 NOK) |
+15.4 % |
| Tomato (1 lb) |
286.79 ISK (22.53 NOK) |
271.55 ISK (21.33 NOK) |
-5.3 % |
| Potato (1 lb) |
203.14 ISK (15.96 NOK) |
138.32 ISK (10.87 NOK) |
-31.9 % |
| Onion (1 lb) |
126.48 ISK (9.94 NOK) |
151.96 ISK (11.94 NOK) |
+20.1 % |
| Lettuce (1 head) |
402.25 ISK (31.60 NOK) |
348.71 ISK (27.39 NOK) |
-13.3 % |
| Water (1.5 liter bottle) |
281.18 ISK (22.09 NOK) |
281.76 ISK (22.14 NOK) |
+0.2 % |
| Bottle of Wine (Mid-Range) |
3,000.00 ISK (235.68 NOK) |
2,093.93 ISK (164.50 NOK) |
-30.2 % |
| Domestic Beer (0.5 liter bottle) |
462.58 ISK (36.34 NOK) |
435.37 ISK (34.20 NOK) |
-5.9 % |
| Imported Beer (12 oz small bottle) |
389.06 ISK (30.56 NOK) |
540.75 ISK (42.48 NOK) |
+39.0 % |
| Cigarettes 20 Pack (Marlboro) |
1,725.00 ISK (135.52 NOK) |
1,973.01 ISK (155.00 NOK) |
+14.4 % |
Transportation | Iceland Edit |
Norway Edit | |
| One-way Ticket (Local Transport) |
650.00 ISK (51.06 NOK) |
534.62 ISK (42.00 NOK) |
-17.8 % |
| Monthly Pass (Regular Price) |
10,400.00 ISK (817.03 NOK) |
9,928.68 ISK (780.00 NOK) |
-4.5 % |
| Taxi Start (Normal Tariff) |
790.00 ISK (62.06 NOK) |
1,527.49 ISK (120.00 NOK) |
+93.4 % |
| Taxi 1 mile (Normal Tariff) |
521.43 ISK (40.96 NOK) |
363.62 ISK (28.57 NOK) |
-30.3 % |
| Taxi 1hour Waiting (Normal Tariff) |
10,620.00 ISK (834.31 NOK) |
6,873.70 ISK (540.00 NOK) |
-35.3 % |
| Gasoline (1 gallon) |
1,182.00 ISK (92.86 NOK) |
1,040.18 ISK (81.72 NOK) |
-12.0 % |
| Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) |
5,890,000.00 ISK (462,720.15 NOK) |
4,582,467.38 ISK (360,000.00 NOK) |
-22.2 % |
| Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) |
6,666,666.67 ISK (523,735.32 NOK) |
4,985,425.80 ISK (391,656.53 NOK) |
-25.2 % |
Utilities (Monthly) | Iceland Edit |
Norway Edit | |
| Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment |
10,924.64 ISK (858.24 NOK) |
30,680.96 ISK (2,410.31 NOK) |
+180.8 % |
| Mobile Phone Monthly Plan with Calls and 10GB+ Data |
3,427.78 ISK (269.29 NOK) |
4,975.29 ISK (390.86 NOK) |
+45.1 % |
| Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) |
10,265.73 ISK (806.48 NOK) |
7,853.23 ISK (616.95 NOK) |
-23.5 % |
Sports And Leisure | Iceland Edit |
Norway Edit | |
| Fitness Club, Monthly Fee for 1 Adult |
10,068.26 ISK (790.97 NOK) |
6,179.71 ISK (485.48 NOK) |
-38.6 % |
| Tennis Court Rent (1 Hour on Weekend) |
4,816.67 ISK (378.40 NOK) |
4,298.18 ISK (337.67 NOK) |
-10.8 % |
| Cinema, International Release, 1 Seat |
2,190.00 ISK (172.05 NOK) |
2,036.65 ISK (160.00 NOK) |
-7.0 % |
Childcare | Iceland Edit |
Norway Edit | |
| Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child |
42,475.25 ISK (3,336.87 NOK) |
38,544.16 ISK (3,028.04 NOK) |
-9.3 % |
| International Primary School, Yearly for 1 Child |
3,744,295.00 ISK (294,152.93 NOK) |
989,044.97 ISK (77,699.67 NOK) |
-73.6 % |
Clothing And Shoes | Iceland Edit |
Norway Edit | |
| 1 Pair of Jeans (Levis 501 Or Similar) |
17,356.84 ISK (1,363.56 NOK) |
12,387.31 ISK (973.15 NOK) |
-28.6 % |
| 1 Summer Dress in a Chain Store (Zara, H&M, ...) |
7,436.25 ISK (584.19 NOK) |
6,614.82 ISK (519.66 NOK) |
-11.0 % |
| 1 Pair of Nike Running Shoes (Mid-Range) |
21,895.00 ISK (1,720.08 NOK) |
14,536.75 ISK (1,142.01 NOK) |
-33.6 % |
| 1 Pair of Men Leather Business Shoes |
29,685.94 ISK (2,332.14 NOK) |
19,350.68 ISK (1,520.20 NOK) |
-34.8 % |
Rent Per Month | Iceland Edit |
Norway Edit | |
| Apartment (1 bedroom) in City Centre |
277,291.67 ISK (21,784.12 NOK) |
163,837.47 ISK (12,871.12 NOK) |
-40.9 % |
| Apartment (1 bedroom) Outside of Centre |
249,310.34 ISK (19,585.89 NOK) |
124,957.10 ISK (9,816.67 NOK) |
-49.9 % |
| Apartment (3 bedrooms) in City Centre |
393,961.54 ISK (30,949.74 NOK) |
255,743.21 ISK (20,091.26 NOK) |
-35.1 % |
| Apartment (3 bedrooms) Outside of Centre |
338,074.07 ISK (26,559.20 NOK) |
197,879.27 ISK (15,545.45 NOK) |
-41.5 % |
Buy Apartment Price | Iceland Edit |
Norway Edit | |
| Price per Square Feet to Buy Apartment in City Centre |
85,617.11 ISK (6,726.11 NOK) |
87,997.37 ISK (6,913.10 NOK) |
+2.8 % |
| Price per Square Feet to Buy Apartment Outside of Centre |
72,898.79 ISK (5,726.95 NOK) |
59,219.24 ISK (4,652.28 NOK) |
-18.8 % |
Salaries And Financing | Iceland Edit |
Norway Edit | |
| Average Monthly Net Salary (After Tax) |
551,496.87 ISK (43,325.76 NOK) |
470,011.15 ISK (36,924.22 NOK) |
-14.8 % |
| Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate | 9.76 | 4.47 | -54.2 % |
| Last update: | March 2025 | March 2025 | |
| Contributors in the past 12 months: | 143 | 521 |
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