Cost of Living in Iceland
Summary of cost of living in Iceland:
- The estimated monthly costs for a family of four are 2,004,953.9Ft (712,488.5kr), excluding rent.
- The estimated monthly costs for a single person are 535,937.7Ft (190,453.0kr), excluding rent.
- Cost of living in Iceland is, on average, 39.9% higher than in United States.
- Rent in Iceland is, on average, 16.3% higher than in United States.
Restaurants |  Edit |
Range |
|---|---|---|
| Meal, Inexpensive Restaurant | 8,723.45 Ft | |
| Meal for 2 People, Mid-range Restaurant, Three-course | 49,245.27 Ft | |
| McMeal at McDonalds (or Equivalent Combo Meal) | 7,035.04 Ft | |
| Domestic Beer (1 pint draught) | 4,221.02 Ft | |
| Imported Beer (12 oz small bottle) | 3,624.59 Ft | |
| Cappuccino (regular) | 2,108.84 Ft | |
| Coke/Pepsi (12 oz small bottle) | 1,149.67 Ft | |
| Water (12 oz small bottle) | 920.11 Ft | |
Markets | Edit |
|
| Milk (regular), (1 gallon) | 2,507.53 Ft | |
| Loaf of Fresh White Bread (1 lb) | 1,269.04 Ft | |
| Rice (white), (1 lb) | 558.62 Ft | |
| Eggs (regular) (12) | 2,283.91 Ft | |
| Local Cheese (1 lb) | 2,897.66 Ft | |
| Chicken Fillets (1 lb) | 3,800.05 Ft | |
| Beef Round (1 lb) (or Equivalent Back Leg Red Meat) | 6,547.69 Ft | |
| Apples (1 lb) | 492.95 Ft | |
| Banana (1 lb) | 393.80 Ft | |
| Oranges (1 lb) | 461.46 Ft | |
| Tomato (1 lb) | 807.03 Ft | |
| Potato (1 lb) | 571.65 Ft | |
| Onion (1 lb) | 354.95 Ft | |
| Lettuce (1 head) | 1,131.94 Ft | |
| Water (1.5 liter bottle) | 788.84 Ft | |
| Bottle of Wine (Mid-Range) | 8,442.05 Ft | |
| Domestic Beer (0.5 liter bottle) | 1,301.70 Ft | |
| Imported Beer (12 oz small bottle) | 1,094.82 Ft | |
| Cigarettes 20 Pack (Marlboro) | 4,854.18 Ft | |
Transportation | Edit |
|
| One-way Ticket (Local Transport) | 1,829.11 Ft | |
| Monthly Pass (Regular Price) | 29,265.76 Ft | |
| Taxi Start (Normal Tariff) | 2,223.07 Ft | |
| Taxi 1 mile (Normal Tariff) | 1,467.31 Ft | |
| Taxi 1hour Waiting (Normal Tariff) | 29,884.85 Ft | |
| Gasoline (1 gallon) | 3,326.17 Ft | |
| Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) | 16,574,552.13 Ft | |
| Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) | 18,760,104.28 Ft | |
Utilities (Monthly) | Edit |
|
| Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment | 30,742.10 Ft | |
| Mobile Phone Monthly Plan with Calls and 10GB+ Data | 9,645.82 Ft | |
| Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) | 28,896.12 Ft | |
Sports And Leisure | Edit |
|
| Fitness Club, Monthly Fee for 1 Adult | 28,332.24 Ft | |
| Tennis Court Rent (1 Hour on Weekend) | 13,554.18 Ft | |
| Cinema, International Release, 1 Seat | 6,162.69 Ft | |
Childcare | Edit |
|
| Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child | 119,526.02 Ft | |
| International Primary School, Yearly for 1 Child | 10,536,504.70 Ft | |
Clothing And Shoes | Edit |
|
| 1 Pair of Jeans (Levis 501 Or Similar) | 48,842.43 Ft | |
| 1 Summer Dress in a Chain Store (Zara, H&M, ...) | 20,925.72 Ft | |
| 1 Pair of Nike Running Shoes (Mid-Range) | 61,612.87 Ft | |
| 1 Pair of Men Leather Business Shoes | 83,536.69 Ft | |
Rent Per Month | Edit |
|
| Apartment (1 bedroom) in City Centre | 780,303.09 Ft | |
| Apartment (1 bedroom) Outside of Centre | 701,563.21 Ft | |
| Apartment (3 bedrooms) in City Centre | 1,108,613.93 Ft | |
| Apartment (3 bedrooms) Outside of Centre | 951,345.73 Ft | |
Buy Apartment Price | Edit |
|
| Price per Square Feet to Buy Apartment in City Centre | 240,927.90 Ft | |
| Price per Square Feet to Buy Apartment Outside of Centre | 205,138.33 Ft | |
Salaries And Financing | Edit |
|
| Average Monthly Net Salary (After Tax) | 1,552,251.95 Ft | |
| Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate | 9.76 |
Prices in Iceland
This country had 1005 entries in the past 12 months by 143 different contributors.
Last update: March 2025
Our data for each country are based on all entries from all cities in that country.
Last update: March 2025
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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