Cost of Living in Iceland
Summary of cost of living in Iceland:
- A family of four estimated monthly costs are 7,490,742.1₩ (709,034.3kr) without rent.
- A single person estimated monthly costs are 2,001,661.7₩ (189,466.8kr) without rent.
- Cost of living in Iceland is, on average, 28.8% higher than in United States.
- Rent in Iceland is, on average, 7.0% higher than in United States.
Restaurants |  Edit |
Range |
|---|---|---|
| Meal, Inexpensive Restaurant | 31,694.13 ₩ | |
| Meal for 2 People, Mid-range Restaurant, Three-course | 190,164.79 ₩ | |
| McMeal at McDonalds (or Equivalent Combo Meal) | 26,411.78 ₩ | |
| Domestic Beer (1 pint draught) | 15,847.07 ₩ | |
| Imported Beer (12 oz small bottle) | 13,734.12 ₩ | |
| Cappuccino (regular) | 7,732.69 ₩ | |
| Coke/Pepsi (12 oz small bottle) | 4,362.31 ₩ | |
| Water (12 oz small bottle) | 3,411.33 ₩ | |
Markets | Edit |
|
| Milk (regular), (1 gallon) | 9,374.63 ₩ | |
| Loaf of Fresh White Bread (1 lb) | 4,930.67 ₩ | |
| Rice (white), (1 lb) | 2,016.84 ₩ | |
| Eggs (regular) (12) | 8,520.68 ₩ | |
| Local Cheese (1 lb) | 10,629.00 ₩ | |
| Chicken Fillets (1 lb) | 13,776.40 ₩ | |
| Beef Round (1 lb) (or Equivalent Back Leg Red Meat) | 23,837.85 ₩ | |
| Apples (1 lb) | 1,913.15 ₩ | |
| Banana (1 lb) | 1,474.53 ₩ | |
| Oranges (1 lb) | 1,691.92 ₩ | |
| Tomato (1 lb) | 3,203.62 ₩ | |
| Potato (1 lb) | 2,145.51 ₩ | |
| Onion (1 lb) | 1,407.77 ₩ | |
| Lettuce (1 head) | 4,372.55 ₩ | |
| Water (1.5 liter bottle) | 3,182.98 ₩ | |
| Bottle of Wine (Mid-Range) | 31,694.13 ₩ | |
| Domestic Beer (0.5 liter bottle) | 4,732.99 ₩ | |
| Imported Beer (12 oz small bottle) | 3,999.33 ₩ | |
| Cigarettes 20 Pack (Marlboro) | 18,224.13 ₩ | |
Transportation | Edit |
|
| One-way Ticket (Local Transport) | 6,655.77 ₩ | |
| Monthly Pass (Regular Price) | 109,872.99 ₩ | |
| Taxi Start (Normal Tariff) | 8,346.12 ₩ | |
| Taxi 1 mile (Normal Tariff) | 5,508.73 ₩ | |
| Taxi 1hour Waiting (Normal Tariff) | 112,197.23 ₩ | |
| Gasoline (1 gallon) | 12,457.34 ₩ | |
| Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) | 63,388,264.56 ₩ | |
| Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) | 68,957,376.37 ₩ | |
Utilities (Monthly) | Edit |
|
| Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment | 115,032.70 ₩ | |
| Mobile Phone Monthly Plan with Calls and 10GB+ Data | 36,712.37 ₩ | |
| Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) | 109,097.87 ₩ | |
Sports And Leisure | Edit |
|
| Fitness Club, Monthly Fee for 1 Adult | 105,422.71 ₩ | |
| Tennis Court Rent (1 Hour on Weekend) | 55,691.12 ₩ | |
| Cinema, International Release, 1 Seat | 21,657.66 ₩ | |
Childcare | Edit |
|
| Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child | 434,788.75 ₩ | |
| International Primary School, Yearly for 1 Child | 3,697,648.77 ₩ | |
Clothing And Shoes | Edit |
|
| 1 Pair of Jeans (Levis 501 Or Similar) | 180,993.12 ₩ | |
| 1 Summer Dress in a Chain Store (Zara, H&M, ...) | 83,672.51 ₩ | |
| 1 Pair of Nike Running Shoes (Mid-Range) | 233,333.64 ₩ | |
| 1 Pair of Men Leather Business Shoes | 310,086.69 ₩ | |
Rent Per Month | Edit |
|
| Apartment (1 bedroom) in City Centre | 2,916,992.10 ₩ | |
| Apartment (1 bedroom) Outside of Centre | 2,620,425.58 ₩ | |
| Apartment (3 bedrooms) in City Centre | 4,172,215.57 ₩ | |
| Apartment (3 bedrooms) Outside of Centre | 3,616,511.79 ₩ | |
Buy Apartment Price | Edit |
|
| Price per Square Feet to Buy Apartment in City Centre | 874,994.39 ₩ | |
| Price per Square Feet to Buy Apartment Outside of Centre | 738,505.19 ₩ | |
Salaries And Financing | Edit |
|
| Average Monthly Net Salary (After Tax) | 6,528,086.30 ₩ | |
| Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate | 9.53 |
Prices in Iceland
This country had 874 entries in the past 12 months by 125 different contributors.
Last update: January 2025
Our data for each country are based on all entries from all cities in that country.
Last update: January 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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