Cost of Living in Iceland

Summary of cost of living in Iceland:

Restaurants
Edit Range
Meal, Inexpensive Restaurant 3,000.00 kr 1,990.00-5,000.00
Meal for 2 People, Mid-range Restaurant, Three-course 16,286.00 kr 10,000.00-28,000.00
McMeal at McDonalds (or Equivalent Combo Meal) 2,200.00 kr 1,909.00-2,500.00
Domestic Beer (1 pint draught) 1,400.00 kr 900.00-1,800.00
Imported Beer (12 oz small bottle) 1,200.00 kr 800.00-1,800.00
Cappuccino (regular) 671.57 kr 414.30-1,000.00
Coke/Pepsi (12 oz small bottle) 395.05 kr 280.00-524.21
Water (12 oz small bottle) 284.04 kr 200.00-450.00
Markets
Edit
Milk (regular), (1 gallon) 851.63 kr 632.16-1,135.62
Loaf of Fresh White Bread (1 lb) 434.35 kr 268.53-907.19
Rice (white), (1 lb) 196.10 kr 117.93-353.80
Eggs (regular) (12) 801.50 kr 598.00-1,200.00
Local Cheese (1 lb) 922.77 kr 544.31-1,360.78
Chicken Fillets (1 lb) 1,168.13 kr 816.47-1,677.84
Beef Round (1 lb) (or Equivalent Back Leg Red Meat) 1,914.24 kr 1,043.26-3,015.94
Apples (1 lb) 196.50 kr 113.40-339.74
Banana (1 lb) 138.20 kr 113.40-226.80
Oranges (1 lb) 172.15 kr 124.74-405.06
Tomato (1 lb) 285.97 kr 138.10-453.59
Potato (1 lb) 188.27 kr 102.06-317.52
Onion (1 lb) 117.69 kr 49.90-235.87
Lettuce (1 head) 433.05 kr 200.00-700.00
Water (1.5 liter bottle) 315.80 kr 109.00-529.00
Bottle of Wine (Mid-Range) 2,750.00 kr 2,000.00-4,500.00
Domestic Beer (0.5 liter bottle) 438.66 kr 320.00-600.00
Imported Beer (12 oz small bottle) 370.42 kr 267.00-500.00
Cigarettes 20 Pack (Marlboro) 1,600.00 kr 1,489.00-2,000.00
Transportation
Edit
One-way Ticket (Local Transport) 570.00 kr 490.00-630.00
Monthly Pass (Regular Price) 9,300.00 kr 8,000.00-13,000.00
Taxi Start (Normal Tariff) 730.00 kr 700.00-890.00
Taxi 1 mile (Normal Tariff) 521.43 kr 460.27-772.49
Taxi 1hour Waiting (Normal Tariff) 9,360.00 kr 8,000.00-12,000.00
Gasoline (1 gallon) 1,178.75 kr 994.97-1,249.19
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) 5,195,000.00 kr 4,500,000.00-5,790,000.00
Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) 5,767,615.38 kr 5,090,000.00-6,200,000.00
Utilities (Monthly)
Edit
Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment 14,464.48 kr 7,000.00-25,000.00
Mobile Phone Monthly Plan with Calls and 10GB+ Data 3,227.22 kr 2,500.00-5,000.00
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) 9,343.23 kr 6,500.00-13,000.00
Sports And Leisure
Edit
Fitness Club, Monthly Fee for 1 Adult 8,610.32 kr 6,666.67-14,000.00
Tennis Court Rent (1 Hour on Weekend) 4,248.33 kr 2,600.00-6,000.00
Cinema, International Release, 1 Seat 2,000.00 kr 1,600.00-2,300.00
Childcare
Edit
Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child 36,101.06 kr 30,000.00-50,000.00
International Primary School, Yearly for 1 Child 776,250.00 kr 610,000.00-1,250,000.00
Clothing And Shoes
Edit
1 Pair of Jeans (Levis 501 Or Similar) 16,182.32 kr 8,200.00-20,000.00
1 Summer Dress in a Chain Store (Zara, H&M, ...) 7,164.00 kr 3,800.00-16,000.00
1 Pair of Nike Running Shoes (Mid-Range) 20,832.26 kr 10,300.00-27,000.00
1 Pair of Men Leather Business Shoes 24,863.91 kr 15,250.00-35,000.00
Rent Per Month
Edit
Apartment (1 bedroom) in City Centre 237,727.21 kr 160,000.00-300,000.00
Apartment (1 bedroom) Outside of Centre 211,361.78 kr 130,000.00-280,000.00
Apartment (3 bedrooms) in City Centre 342,100.00 kr 255,000.00-475,000.00
Apartment (3 bedrooms) Outside of Centre 307,108.11 kr 220,000.00-450,000.00
Buy Apartment Price
Edit
Price per Square Feet to Buy Apartment in City Centre 73,408.81 kr 55,741.36-102,192.49
Price per Square Feet to Buy Apartment Outside of Centre 59,772.66 kr 46,451.13-82,683.02
Salaries And Financing
Edit
Average Monthly Net Salary (After Tax) 579,082.01 kr
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 7.28 3.69-10.50

Prices in Iceland

This country had 1361 entries in the past 12 months by 180 different contributors.
Last update: February 2024
Our data for each country are based on all entries from all cities in that country.
Sources and References
Distribution of Expenses Using Our Statistical Model:
  
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