Cost of Living in Iceland
Summary of cost of living in Iceland:
- A family of four estimated monthly costs are 5,433.8$ (718,731.3kr) without rent.
- A single person estimated monthly costs are 1,451.0$ (191,927.4kr) without rent.
- Cost of living in Iceland is, on average, 35.9% higher than in United States.
- Rent in Iceland is, on average, 12.1% higher than in United States.
Restaurants |  Edit |
Range |
|---|---|---|
| Meal, Inexpensive Restaurant | 22.68 $ | |
| Meal for 2 People, Mid-range Restaurant, Three-course | 136.09 $ | |
| McMeal at McDonalds (or Equivalent Combo Meal) | 18.90 $ | |
| Domestic Beer (1 pint draught) | 11.34 $ | |
| Imported Beer (12 oz small bottle) | 9.83 $ | |
| Cappuccino (regular) | 5.67 $ | |
| Coke/Pepsi (12 oz small bottle) | 3.15 $ | |
| Water (12 oz small bottle) | 2.50 $ | |
Markets | Edit |
|
| Milk (regular), (1 gallon) | 6.63 $ | |
| Loaf of Fresh White Bread (1 lb) | 3.49 $ | |
| Rice (white), (1 lb) | 1.49 $ | |
| Eggs (regular) (12) | 6.10 $ | |
| Local Cheese (1 lb) | 7.68 $ | |
| Chicken Fillets (1 lb) | 10.04 $ | |
| Beef Round (1 lb) (or Equivalent Back Leg Red Meat) | 18.01 $ | |
| Apples (1 lb) | 1.32 $ | |
| Banana (1 lb) | 1.06 $ | |
| Oranges (1 lb) | 1.25 $ | |
| Tomato (1 lb) | 2.23 $ | |
| Potato (1 lb) | 1.55 $ | |
| Onion (1 lb) | 0.96 $ | |
| Lettuce (1 head) | 3.21 $ | |
| Water (1.5 liter bottle) | 2.22 $ | |
| Bottle of Wine (Mid-Range) | 22.68 $ | |
| Domestic Beer (0.5 liter bottle) | 3.47 $ | |
| Imported Beer (12 oz small bottle) | 2.90 $ | |
| Cigarettes 20 Pack (Marlboro) | 13.04 $ | |
Transportation | Edit |
|
| One-way Ticket (Local Transport) | 4.84 $ | |
| Monthly Pass (Regular Price) | 78.63 $ | |
| Taxi Start (Normal Tariff) | 5.97 $ | |
| Taxi 1 mile (Normal Tariff) | 3.94 $ | |
| Taxi 1hour Waiting (Normal Tariff) | 80.29 $ | |
| Gasoline (1 gallon) | 8.94 $ | |
| Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) | 44,530.13 $ | |
| Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) | 50,401.96 $ | |
Utilities (Monthly) | Edit |
|
| Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment | 82.59 $ | |
| Mobile Phone Monthly Plan with Calls and 10GB+ Data | 25.92 $ | |
| Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) | 77.58 $ | |
Sports And Leisure | Edit |
|
| Fitness Club, Monthly Fee for 1 Adult | 75.62 $ | |
| Tennis Court Rent (1 Hour on Weekend) | 39.85 $ | |
| Cinema, International Release, 1 Seat | 16.56 $ | |
Childcare | Edit |
|
| Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child | 321.13 $ | |
| International Primary School, Yearly for 1 Child | 28,307.97 $ | |
Clothing And Shoes | Edit |
|
| 1 Pair of Jeans (Levis 501 Or Similar) | 134.41 $ | |
| 1 Summer Dress in a Chain Store (Zara, H&M, ...) | 59.21 $ | |
| 1 Pair of Nike Running Shoes (Mid-Range) | 166.65 $ | |
| 1 Pair of Men Leather Business Shoes | 236.14 $ | |
Rent Per Month | Edit |
|
| Apartment (1 bedroom) in City Centre | 2,096.41 $ | |
| Apartment (1 bedroom) Outside of Centre | 1,884.86 $ | |
| Apartment (3 bedrooms) in City Centre | 2,978.46 $ | |
| Apartment (3 bedrooms) Outside of Centre | 2,555.94 $ | |
Buy Apartment Price | Edit |
|
| Price per Square Feet to Buy Apartment in City Centre | 647.29 $ | |
| Price per Square Feet to Buy Apartment Outside of Centre | 548.30 $ | |
Salaries And Financing | Edit |
|
| Average Monthly Net Salary (After Tax) | 4,205.35 $ | |
| Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate | 9.72 |
Prices in Iceland
This country had 1005 entries in the past 12 months by 142 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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