Cost of Living in Iceland
Summary of cost of living in Iceland:
- The estimated monthly costs for a family of four are 5,903.2$ (720,783.9kr), excluding rent.
- The estimated monthly costs for a single person are 1,563.7$ (190,933.1kr), excluding rent.
- Cost of living in Iceland is, on average, 45.5% higher than in United States.
- Rent in Iceland is, on average, 30.2% higher than in United States.
Restaurants |  Edit |
Range |
|---|---|---|
| Meal at an Inexpensive Restaurant | 3,300.00 kr | |
| Meal for Two at a Mid-Range Restaurant (Three Courses, Without Drinks) | 15,000.00 kr | |
| Combo Meal at McDonald's (or Equivalent Fast-Food Meal) | 2,750.00 kr | |
| Domestic Draft Beer (1 Pint) | 1,500.00 kr | |
| Imported Beer (12 oz Small Bottle) | 1,300.00 kr | |
| Cappuccino (Regular Size) | 736.37 kr | |
| Soft Drink (Coca-Cola or Pepsi, 12 oz Small Bottle) | 398.74 kr | |
| Bottled Water (12 oz) | 346.12 kr | |
Markets | Edit |
|
| Milk (Regular, 1 Liter) | 237.79 kr | |
| Fresh White Bread (1 lb Loaf) | 451.22 kr | |
| White Rice (1 lb) | 194.98 kr | |
| Eggs (12, Large Size) | 824.06 kr | |
| Local Cheese (1 lb) | 1,097.01 kr | |
| Chicken Fillets (1 lb) | 1,419.02 kr | |
| Beef Round or Equivalent Back Leg Red Meat (1 lb) | 2,434.77 kr | |
| Apples (1 lb) | 180.25 kr | |
| Bananas (1 lb) | 145.82 kr | |
| Oranges (1 lb) | 176.07 kr | |
| Tomatoes (1 lb) | 302.36 kr | |
| Potatoes (1 lb) | 194.46 kr | |
| Onions (1 lb) | 111.16 kr | |
| Lettuce (1 Head) | 374.33 kr | |
| Bottled Water (50 oz) | 271.81 kr | |
| Bottle of Wine (Mid-Range) | 2,900.00 kr | |
| Domestic Beer (16.9 oz Bottle) | 481.62 kr | |
| Imported Beer (12 oz Small Bottle) | 409.40 kr | |
| Cigarettes (Pack of 20, Marlboro) | 1,750.00 kr | |
Transportation | Edit |
|
| One-Way Ticket (Local Transport) | 650.00 kr | |
| Monthly Public Transport Pass (Regular Price) | 10,800.00 kr | |
| Taxi Start (Standard Tariff) | 810.00 kr | |
| Taxi 1 mile (Standard Tariff) | 555.22 kr | |
| Taxi 1 Hour Waiting (Standard Tariff) | 9,000.00 kr | |
| Gasoline (1 Liter) | 309.58 kr | |
| Volkswagen Golf 1.5 (or Equivalent New Compact Car) | 6,190,000.00 kr | |
| Toyota Corolla Sedan 1.6 (or Equivalent New Mid-Size Car) | 6,548,750.00 kr | |
Utilities (Monthly) | Edit |
|
| Basic Utilities for 915 Square Feet Apartment (Electricity, Heating, Cooling, Water, Garbage) | 11,750.82 kr | |
| Mobile Phone Plan (Monthly, with Calls and 10GB+ Data) | 3,839.38 kr | |
| Broadband Internet (Unlimited Data, 60 Mbps or Higher) | 11,154.94 kr | |
Sports And Leisure | Edit |
|
| Monthly Fitness Club Membership | 10,942.71 kr | |
| Tennis Court Rental (1 Hour, Weekend) | 6,177.08 kr | |
| Cinema Ticket (International Release) | 2,250.00 kr | |
Childcare | Edit |
|
| Private Full-Day Preschool or Kindergarten, Monthly Fee per Child | 75,814.50 kr | |
| International Primary School, Annual Tuition per Child | 3,744,295.00 kr | |
Clothing And Shoes | Edit |
|
| Jeans (Levi's 501 or Similar) | 17,498.75 kr | |
| Summer Dress in a Chain Store (e.g. Zara or H&M) | 5,923.75 kr | |
| Nike Running Shoes (Mid-Range) | 20,764.71 kr | |
| Men's Leather Business Shoes | 28,666.67 kr | |
Rent Per Month | Edit |
|
| 1 Bedroom Apartment in City Centre | 291,909.09 kr | |
| 1 Bedroom Apartment Outside of City Centre | 247,080.00 kr | |
| 3 Bedroom Apartment in City Centre | 408,421.05 kr | |
| 3 Bedroom Apartment Outside of City Centre | 329,909.09 kr | |
Buy Apartment Price | Edit |
|
| Price per Square Feet to Buy Apartment in City Centre | 86,873.07 kr | |
| Price per Square Feet to Buy Apartment Outside of Centre | 71,565.90 kr | |
Salaries And Financing | Edit |
|
| Average Monthly Net Salary (After Tax) | 567,845.91 kr | |
| Annual Mortgage Interest Rate (20-Year Fixed, in %) | 9.23 | |
Prices in Iceland
This country had 541 entries in the past 12 months by 77 different contributors.
Last update: 10 February 2026
Our data for each country are based on all entries from all cities in that country.
Last update: 10 February 2026
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:
Salary Calculator:Got a job offer in Iceland? Estimate your take-home pay with our Salary Calculator for Iceland.
Moving to Iceland? Explore:
This Page in Other Languages:
 DeutschLebenshaltungskosten in Island
|
 PortuguêsCusto de Vida na Islândia
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 ItalianoCosto della vita in Islanda
|
 FrançaisCoût de la vie en Islande
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 EspañolCoste de vida en Islandia
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