Cost of Living Comparison Between Norway and Iceland 
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| Indices Difference |  |
|---|---|
| Cost of Living in Iceland is 18.4% higher than in Norway (without rent) | |
| Cost of Living Including Rent in Iceland is 30.4% higher than in Norway | |
| Rent Prices in Iceland are 72.7% higher than in Norway | |
| Restaurant Prices in Iceland are 23.3% higher than in Norway | |
| Groceries Prices in Iceland are 23.8% higher than in Norway | |
| Local Purchasing Power in Iceland is 7.8% lower than in Norway | |
Restaurants | Norway Edit |
Iceland Edit | Difference |
|---|---|---|---|
| Meal, Inexpensive Restaurant |
229.00 NOK (2,870.76 ISK) |
239.31 NOK (3,000.00 ISK) |
+4.5 % |
| Meal for 2 People, Mid-range Restaurant, Three-course |
1,000.00 NOK (12,536.07 ISK) |
1,435.86 NOK (18,000.00 ISK) |
+43.6 % |
| McMeal at McDonalds (or Equivalent Combo Meal) |
140.00 NOK (1,755.05 ISK) |
199.42 NOK (2,500.00 ISK) |
+42.4 % |
| Domestic Beer (1 pint draught) |
109.50 NOK (1,372.70 ISK) |
119.65 NOK (1,500.00 ISK) |
+9.3 % |
| Imported Beer (12 oz small bottle) |
100.00 NOK (1,253.61 ISK) |
103.70 NOK (1,300.00 ISK) |
+3.7 % |
| Cappuccino (regular) |
50.04 NOK (627.25 ISK) |
59.80 NOK (749.67 ISK) |
+19.5 % |
| Coke/Pepsi (12 oz small bottle) |
34.46 NOK (431.98 ISK) |
32.98 NOK (413.44 ISK) |
-4.3 % |
| Water (12 oz small bottle) |
28.56 NOK (358.02 ISK) |
26.37 NOK (330.56 ISK) |
-7.7 % |
Markets | Norway Edit |
Iceland Edit | |
| Milk (regular), (1 gallon) |
86.11 NOK (1,079.48 ISK) |
69.93 NOK (876.70 ISK) |
-18.8 % |
| Loaf of Fresh White Bread (1 lb) |
30.47 NOK (381.99 ISK) |
36.84 NOK (461.85 ISK) |
+20.9 % |
| Rice (white), (1 lb) |
14.66 NOK (183.79 ISK) |
15.74 NOK (197.27 ISK) |
+7.3 % |
| Eggs (regular) (12) |
44.31 NOK (555.44 ISK) |
64.34 NOK (806.59 ISK) |
+45.2 % |
| Local Cheese (1 lb) |
53.98 NOK (676.66 ISK) |
81.08 NOK (1,016.48 ISK) |
+50.2 % |
| Chicken Fillets (1 lb) |
68.17 NOK (854.58 ISK) |
105.97 NOK (1,328.49 ISK) |
+55.5 % |
| Beef Round (1 lb) (or Equivalent Back Leg Red Meat) |
132.28 NOK (1,658.25 ISK) |
190.08 NOK (2,382.84 ISK) |
+43.7 % |
| Apples (1 lb) |
15.18 NOK (190.32 ISK) |
13.90 NOK (174.20 ISK) |
-8.5 % |
| Banana (1 lb) |
11.39 NOK (142.84 ISK) |
11.16 NOK (139.94 ISK) |
-2.0 % |
| Oranges (1 lb) |
14.71 NOK (184.42 ISK) |
13.16 NOK (164.96 ISK) |
-10.6 % |
| Tomato (1 lb) |
21.17 NOK (265.38 ISK) |
23.51 NOK (294.68 ISK) |
+11.0 % |
| Potato (1 lb) |
10.75 NOK (134.71 ISK) |
16.39 NOK (205.46 ISK) |
+52.5 % |
| Onion (1 lb) |
11.98 NOK (150.18 ISK) |
10.08 NOK (126.38 ISK) |
-15.8 % |
| Lettuce (1 head) |
26.80 NOK (335.93 ISK) |
33.88 NOK (424.75 ISK) |
+26.4 % |
| Water (1.5 liter bottle) |
21.64 NOK (271.32 ISK) |
23.37 NOK (293.00 ISK) |
+8.0 % |
| Bottle of Wine (Mid-Range) |
160.00 NOK (2,005.77 ISK) |
239.31 NOK (3,000.00 ISK) |
+49.6 % |
| Domestic Beer (0.5 liter bottle) |
34.00 NOK (426.22 ISK) |
36.65 NOK (459.45 ISK) |
+7.8 % |
| Imported Beer (12 oz small bottle) |
42.19 NOK (528.91 ISK) |
30.57 NOK (383.18 ISK) |
-27.6 % |
| Cigarettes 20 Pack (Marlboro) |
154.45 NOK (1,936.20 ISK) |
137.60 NOK (1,725.00 ISK) |
-10.9 % |
Transportation | Norway Edit |
Iceland Edit | |
| One-way Ticket (Local Transport) |
42.00 NOK (526.52 ISK) |
51.05 NOK (640.00 ISK) |
+21.6 % |
| Monthly Pass (Regular Price) |
785.00 NOK (9,840.82 ISK) |
829.61 NOK (10,400.00 ISK) |
+5.7 % |
| Taxi Start (Normal Tariff) |
122.50 NOK (1,535.67 ISK) |
63.02 NOK (790.00 ISK) |
-48.6 % |
| Taxi 1 mile (Normal Tariff) |
28.16 NOK (353.06 ISK) |
41.59 NOK (521.43 ISK) |
+47.7 % |
| Taxi 1hour Waiting (Normal Tariff) |
540.00 NOK (6,769.48 ISK) |
847.16 NOK (10,620.00 ISK) |
+56.9 % |
| Gasoline (1 gallon) |
81.71 NOK (1,024.36 ISK) |
94.29 NOK (1,182.00 ISK) |
+15.4 % |
| Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) |
359,400.00 NOK (4,505,465.24 ISK) |
469,844.04 NOK (5,890,000.00 ISK) |
+30.7 % |
| Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) |
388,820.09 NOK (4,874,277.63 ISK) |
531,798.58 NOK (6,666,666.67 ISK) |
+36.8 % |
Utilities (Monthly) | Norway Edit |
Iceland Edit | |
| Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment |
2,360.54 NOK (29,591.90 ISK) |
871.46 NOK (10,924.64 ISK) |
-63.1 % |
| Mobile Phone Monthly Plan with Calls and 10GB+ Data |
390.48 NOK (4,895.09 ISK) |
273.43 NOK (3,427.78 ISK) |
-30.0 % |
| Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) |
613.60 NOK (7,692.18 ISK) |
818.73 NOK (10,263.65 ISK) |
+33.4 % |
Sports And Leisure | Norway Edit |
Iceland Edit | |
| Fitness Club, Monthly Fee for 1 Adult |
485.83 NOK (6,090.34 ISK) |
797.93 NOK (10,002.92 ISK) |
+64.2 % |
| Tennis Court Rent (1 Hour on Weekend) |
329.68 NOK (4,132.90 ISK) |
420.50 NOK (5,271.43 ISK) |
+27.5 % |
| Cinema, International Release, 1 Seat |
160.00 NOK (2,005.77 ISK) |
174.70 NOK (2,190.00 ISK) |
+9.2 % |
Childcare | Norway Edit |
Iceland Edit | |
| Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child |
3,054.75 NOK (38,294.53 ISK) |
3,388.24 NOK (42,475.25 ISK) |
+10.9 % |
| International Primary School, Yearly for 1 Child |
75,991.68 NOK (952,637.38 ISK) |
298,681.61 NOK (3,744,295.00 ISK) |
+293.0 % |
Clothing And Shoes | Norway Edit |
Iceland Edit | |
| 1 Pair of Jeans (Levis 501 Or Similar) |
972.41 NOK (12,190.16 ISK) |
1,418.18 NOK (17,778.42 ISK) |
+45.8 % |
| 1 Summer Dress in a Chain Store (Zara, H&M, ...) |
514.35 NOK (6,447.94 ISK) |
624.69 NOK (7,831.11 ISK) |
+21.5 % |
| 1 Pair of Nike Running Shoes (Mid-Range) |
1,145.48 NOK (14,359.87 ISK) |
1,758.35 NOK (22,042.86 ISK) |
+53.5 % |
| 1 Pair of Men Leather Business Shoes |
1,519.26 NOK (19,045.50 ISK) |
2,491.52 NOK (31,233.82 ISK) |
+64.0 % |
Rent Per Month | Norway Edit |
Iceland Edit | |
| Apartment (1 bedroom) in City Centre |
12,881.78 NOK (161,486.95 ISK) |
22,119.50 NOK (277,291.67 ISK) |
+71.7 % |
| Apartment (1 bedroom) Outside of Centre |
9,788.72 NOK (122,712.15 ISK) |
19,887.43 NOK (249,310.34 ISK) |
+103.2 % |
| Apartment (3 bedrooms) in City Centre |
20,010.85 NOK (250,857.48 ISK) |
31,426.23 NOK (393,961.54 ISK) |
+57.0 % |
| Apartment (3 bedrooms) Outside of Centre |
15,443.48 NOK (193,600.60 ISK) |
26,968.10 NOK (338,074.07 ISK) |
+74.6 % |
Buy Apartment Price | Norway Edit |
Iceland Edit | |
| Price per Square Feet to Buy Apartment in City Centre |
6,818.26 NOK (85,474.19 ISK) |
6,829.66 NOK (85,617.11 ISK) |
+0.2 % |
| Price per Square Feet to Buy Apartment Outside of Centre |
4,604.08 NOK (57,717.12 ISK) |
5,785.24 NOK (72,524.16 ISK) |
+25.7 % |
Salaries And Financing | Norway Edit |
Iceland Edit | |
| Average Monthly Net Salary (After Tax) |
36,890.69 NOK (462,464.40 ISK) |
44,359.24 NOK (556,090.69 ISK) |
+20.2 % |
| Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate | 4.45 | 9.72 | +118.3 % |
| Last update: | March 2025 | March 2025 | |
| Contributors in the past 12 months: | 523 | 143 |
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