Cost of Living in Iceland
Summary of cost of living in Iceland:
- A family of four estimated monthly costs are 1,940,002.8Ft (686,040.3kr) without rent.
- A single person estimated monthly costs are 520,690.6Ft (184,131.1kr) without rent.
- Cost of living in Iceland is, on average, 23.3% higher than in United States.
- Rent in Iceland is, on average, 0.2% higher than in United States.
Restaurants |  Edit |
Range |
|---|---|---|
| Meal, Inexpensive Restaurant | 8,483.48 Ft | |
| Meal for 2 People, Mid-range Restaurant, Three-course | 47,398.89 Ft | |
| McMeal at McDonalds (or Equivalent Combo Meal) | 7,041.29 Ft | |
| Domestic Beer (1 pint draught) | 4,100.35 Ft | |
| Imported Beer (12 oz small bottle) | 3,393.39 Ft | |
| Cappuccino (regular) | 1,986.97 Ft | |
| Coke/Pepsi (12 oz small bottle) | 1,169.58 Ft | |
| Water (12 oz small bottle) | 868.05 Ft | |
Markets | Edit |
|
| Milk (regular), (1 gallon) | 2,462.31 Ft | |
| Loaf of Fresh White Bread (1 lb) | 1,232.12 Ft | |
| Rice (white), (1 lb) | 543.92 Ft | |
| Eggs (regular) (12) | 2,252.72 Ft | |
| Local Cheese (1 lb) | 2,726.69 Ft | |
| Chicken Fillets (1 lb) | 3,530.87 Ft | |
| Beef Round (1 lb) (or Equivalent Back Leg Red Meat) | 6,075.92 Ft | |
| Apples (1 lb) | 523.43 Ft | |
| Banana (1 lb) | 399.18 Ft | |
| Oranges (1 lb) | 470.68 Ft | |
| Tomato (1 lb) | 817.07 Ft | |
| Potato (1 lb) | 565.86 Ft | |
| Onion (1 lb) | 336.25 Ft | |
| Lettuce (1 head) | 1,196.68 Ft | |
| Water (1.5 liter bottle) | 821.79 Ft | |
| Bottle of Wine (Mid-Range) | 8,483.48 Ft | |
| Domestic Beer (0.5 liter bottle) | 1,259.29 Ft | |
| Imported Beer (12 oz small bottle) | 1,064.34 Ft | |
| Cigarettes 20 Pack (Marlboro) | 4,747.92 Ft | |
Transportation | Edit |
|
| One-way Ticket (Local Transport) | 1,781.53 Ft | |
| Monthly Pass (Regular Price) | 29,409.39 Ft | |
| Taxi Start (Normal Tariff) | 2,135.01 Ft | |
| Taxi 1 mile (Normal Tariff) | 1,474.51 Ft | |
| Taxi 1hour Waiting (Normal Tariff) | 30,031.51 Ft | |
| Gasoline (1 gallon) | 3,322.55 Ft | |
| Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) | 16,373,113.18 Ft | |
| Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) | 17,651,604.78 Ft | |
Utilities (Monthly) | Edit |
|
| Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment | 35,388.76 Ft | |
| Mobile Phone Monthly Plan with Calls and 10GB+ Data | 9,801.25 Ft | |
| Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) | 27,559.91 Ft | |
Sports And Leisure | Edit |
|
| Fitness Club, Monthly Fee for 1 Adult | 27,008.47 Ft | |
| Tennis Court Rent (1 Hour on Weekend) | 13,238.94 Ft | |
| Cinema, International Release, 1 Seat | 5,782.90 Ft | |
Childcare | Edit |
|
| Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child | 107,609.39 Ft | |
| International Primary School, Yearly for 1 Child | 2,195,100.02 Ft | |
Clothing And Shoes | Edit |
|
| 1 Pair of Jeans (Levis 501 Or Similar) | 46,057.75 Ft | |
| 1 Summer Dress in a Chain Store (Zara, H&M, ...) | 22,318.62 Ft | |
| 1 Pair of Nike Running Shoes (Mid-Range) | 60,934.29 Ft | |
| 1 Pair of Men Leather Business Shoes | 77,118.67 Ft | |
Rent Per Month | Edit |
|
| Apartment (1 bedroom) in City Centre | 742,803.38 Ft | |
| Apartment (1 bedroom) Outside of Centre | 667,034.28 Ft | |
| Apartment (3 bedrooms) in City Centre | 1,049,653.70 Ft | |
| Apartment (3 bedrooms) Outside of Centre | 934,467.99 Ft | |
Buy Apartment Price | Edit |
|
| Price per Square Feet to Buy Apartment in City Centre | 219,649.61 Ft | |
| Price per Square Feet to Buy Apartment Outside of Centre | 179,933.03 Ft | |
Salaries And Financing | Edit |
|
| Average Monthly Net Salary (After Tax) | 1,664,744.16 Ft | |
| Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate | 8.16 |
Prices in Iceland
This country had 1859 entries in the past 12 months by 255 different contributors.
Last update: November 2024
Our data for each country are based on all entries from all cities in that country.
Last update: November 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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