Cost of Living in Iceland
Summary of cost of living in Iceland:
- A family of four estimated monthly costs are 57,389.7kr (709,267.2kr) without rent.
- A single person estimated monthly costs are 15,338.7kr (189,567.5kr) without rent.
- Cost of living in Iceland is, on average, 27.0% higher than in United States.
- Rent in Iceland is, on average, 5.3% higher than in United States.
Restaurants |  Edit |
Range |
|---|---|---|
| Meal, Inexpensive Restaurant | 242.74 kr | |
| Meal for 2 People, Mid-range Restaurant, Three-course | 1,456.45 kr | |
| McMeal at McDonalds (or Equivalent Combo Meal) | 202.29 kr | |
| Domestic Beer (1 pint draught) | 121.37 kr | |
| Imported Beer (12 oz small bottle) | 109.23 kr | |
| Cappuccino (regular) | 60.00 kr | |
| Coke/Pepsi (12 oz small bottle) | 33.91 kr | |
| Water (12 oz small bottle) | 26.36 kr | |
Markets | Edit |
|
| Milk (regular), (1 gallon) | 72.37 kr | |
| Loaf of Fresh White Bread (1 lb) | 37.55 kr | |
| Rice (white), (1 lb) | 15.75 kr | |
| Eggs (regular) (12) | 64.99 kr | |
| Local Cheese (1 lb) | 81.57 kr | |
| Chicken Fillets (1 lb) | 105.91 kr | |
| Beef Round (1 lb) (or Equivalent Back Leg Red Meat) | 181.35 kr | |
| Apples (1 lb) | 14.83 kr | |
| Banana (1 lb) | 11.33 kr | |
| Oranges (1 lb) | 13.37 kr | |
| Tomato (1 lb) | 24.26 kr | |
| Potato (1 lb) | 16.59 kr | |
| Onion (1 lb) | 10.10 kr | |
| Lettuce (1 head) | 33.49 kr | |
| Water (1.5 liter bottle) | 24.40 kr | |
| Bottle of Wine (Mid-Range) | 242.74 kr | |
| Domestic Beer (0.5 liter bottle) | 36.07 kr | |
| Imported Beer (12 oz small bottle) | 30.63 kr | |
| Cigarettes 20 Pack (Marlboro) | 139.58 kr | |
Transportation | Edit |
|
| One-way Ticket (Local Transport) | 50.98 kr | |
| Monthly Pass (Regular Price) | 841.51 kr | |
| Taxi Start (Normal Tariff) | 63.92 kr | |
| Taxi 1 mile (Normal Tariff) | 42.19 kr | |
| Taxi 1hour Waiting (Normal Tariff) | 859.31 kr | |
| Gasoline (1 gallon) | 95.47 kr | |
| Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) | 485,484.27 kr | |
| Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) | 528,137.53 kr | |
Utilities (Monthly) | Edit |
|
| Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment | 887.02 kr | |
| Mobile Phone Monthly Plan with Calls and 10GB+ Data | 277.21 kr | |
| Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) | 835.92 kr | |
Sports And Leisure | Edit |
|
| Fitness Club, Monthly Fee for 1 Adult | 807.42 kr | |
| Tennis Court Rent (1 Hour on Weekend) | 426.53 kr | |
| Cinema, International Release, 1 Seat | 165.87 kr | |
Childcare | Edit |
|
| Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child | 3,330.00 kr | |
| International Primary School, Yearly for 1 Child | 28,319.92 kr | |
Clothing And Shoes | Edit |
|
| 1 Pair of Jeans (Levis 501 Or Similar) | 1,386.21 kr | |
| 1 Summer Dress in a Chain Store (Zara, H&M, ...) | 640.84 kr | |
| 1 Pair of Nike Running Shoes (Mid-Range) | 1,790.76 kr | |
| 1 Pair of Men Leather Business Shoes | 2,374.92 kr | |
Rent Per Month | Edit |
|
| Apartment (1 bedroom) in City Centre | 22,407.61 kr | |
| Apartment (1 bedroom) Outside of Centre | 20,130.86 kr | |
| Apartment (3 bedrooms) in City Centre | 31,877.02 kr | |
| Apartment (3 bedrooms) Outside of Centre | 27,566.79 kr | |
Buy Apartment Price | Edit |
|
| Price per Square Feet to Buy Apartment in City Centre | 6,698.62 kr | |
| Price per Square Feet to Buy Apartment Outside of Centre | 5,618.60 kr | |
Salaries And Financing | Edit |
|
| Average Monthly Net Salary (After Tax) | 49,233.32 kr | |
| Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate | 9.48 |
Prices in Iceland
This country had 931 entries in the past 12 months by 134 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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