Cost of Living in Reykjavik
Summary of cost of living in Reykjavik, Iceland:
- The estimated monthly costs for a family of four are 5,458.1$ (720,082.7kr), excluding rent (using our estimator).
- The estimated monthly costs for a single person are 1,456.3$ (192,127.6kr), excluding rent.
- Reykjavik is 34.5% more expensive than Columbus (excluding rent, see our cost of living index).
- Rent in Reykjavik is, on average, 24.0% higher than in Columbus.
Restaurants |  Edit |
Range |
|---|---|---|
| Meal, Inexpensive Restaurant | 3,300.00 kr | |
| Meal for 2 People, Mid-range Restaurant, Three-course | 18,000.00 kr | |
| McMeal at McDonalds (or Equivalent Combo Meal) | 2,500.00 kr | |
| Domestic Beer (1 pint draught) | 1,550.00 kr | |
| Imported Beer (12 oz small bottle) | 1,350.00 kr | |
| Cappuccino (regular) | 762.22 kr | |
| Coke/Pepsi (12 oz small bottle) | 412.95 kr | |
| Water (12 oz small bottle) | 324.77 kr | |
Markets | Edit |
|
| Milk (regular), (1 gallon) | 876.08 kr | |
| Loaf of Fresh White Bread (1 lb) | 461.71 kr | |
| Rice (white), (1 lb) | 203.93 kr | |
| Eggs (regular) (12) | 817.20 kr | |
| Local Cheese (1 lb) | 1,015.14 kr | |
| Chicken Fillets (1 lb) | 1,335.50 kr | |
| Beef Round (1 lb) (or Equivalent Back Leg Red Meat) | 2,340.20 kr | |
| Apples (1 lb) | 182.96 kr | |
| Banana (1 lb) | 140.20 kr | |
| Oranges (1 lb) | 164.58 kr | |
| Tomato (1 lb) | 298.35 kr | |
| Potato (1 lb) | 203.79 kr | |
| Onion (1 lb) | 133.04 kr | |
| Lettuce (1 head) | 402.38 kr | |
| Water (1.5 liter bottle) | 266.90 kr | |
| Bottle of Wine (Mid-Range) | 3,000.00 kr | |
| Domestic Beer (0.5 liter bottle) | 454.12 kr | |
| Imported Beer (12 oz small bottle) | 396.14 kr | |
| Cigarettes 20 Pack (Marlboro) | 1,700.00 kr | |
Transportation | Edit |
|
| One-way Ticket (Local Transport) | 650.00 kr | |
| Monthly Pass (Regular Price) | 10,800.00 kr | |
| Taxi Start (Normal Tariff) | 790.00 kr | |
| Taxi 1 mile (Normal Tariff) | 504.53 kr | |
| Taxi 1hour Waiting (Normal Tariff) | 10,620.00 kr | |
| Gasoline (1 gallon) | 1,180.35 kr | |
| Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) | 5,890,000.00 kr | |
| Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) | 6,500,000.00 kr | |
Utilities (Monthly) | Edit |
|
| Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment | 10,673.77 kr | |
| Mobile Phone Monthly Plan with Calls and 10GB+ Data | 3,412.61 kr | |
| Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) | 9,905.62 kr | |
Sports And Leisure | Edit |
|
| Fitness Club, Monthly Fee for 1 Adult | 10,139.05 kr | |
| Tennis Court Rent (1 Hour on Weekend) | 4,816.67 kr | |
| Cinema, International Release, 1 Seat | 2,190.00 kr | |
Childcare | Edit |
|
| Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child | 38,078.11 kr | |
| International Primary School, Yearly for 1 Child | 3,744,295.00 kr | |
Clothing And Shoes | Edit |
|
| 1 Pair of Jeans (Levis 501 Or Similar) | 17,452.67 kr | |
| 1 Summer Dress in a Chain Store (Zara, H&M, ...) | 7,570.71 kr | |
| 1 Pair of Nike Running Shoes (Mid-Range) | 22,346.76 kr | |
| 1 Pair of Men Leather Business Shoes | 31,075.00 kr | |
Rent Per Month | Edit |
|
| Apartment (1 bedroom) in City Centre | 275,476.19 kr | |
| Apartment (1 bedroom) Outside of Centre | 254,782.61 kr | |
| Apartment (3 bedrooms) in City Centre | 395,541.67 kr | |
| Apartment (3 bedrooms) Outside of Centre | 341,272.73 kr | |
Buy Apartment Price | Edit |
|
| Price per Square Feet to Buy Apartment in City Centre | 87,516.24 kr | |
| Price per Square Feet to Buy Apartment Outside of Centre | 73,795.28 kr | |
Salaries And Financing | Edit |
|
| Average Monthly Net Salary (After Tax) | 527,515.98 kr | |
| Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate | 9.53 |
Prices in Reykjavik
This city had 875 entries in the past 12 months by 116 different contributors.
Last update: March 2025
Last update: March 2025
Sources and References
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Distribution of Expenses Using Our Statistical Model:
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Nearby Cities:| Cost of Living in Hafnarfjörður (Hafnarfjorour) | 6.29 miles |
| Cost of Living in Akranes | 29.20 miles |
| Cost of Living in Grindavik | 31.33 miles |
| Cost of Living in Grundarfjordur | 108.80 miles |
| Cost of Living in Kirkjubaejarklaustur | 159.08 miles |
| Cost of Living in Hofsos | 210.99 miles |
This Page in Other Languages:
 DeutschLebenshaltungskosten in Reykjavik
|
 PortuguêsCusto de Vida em Reykjavík
|
 ItalianoCosto della Vita a Reykjavik
|
 FrançaisCoût de la Vie à Reykjavik
|
 EspañolCosto de Vida en Reikiavik
|
Primary schools in Iceland are free.
This is free in Iceland, everywhere...please make this right :)
I just took some time to put in the new price from the store Krónan here in Iceland so it is very accurate to day, but schoolf for children from 5 to 16 is free.
best regards,
Helena