🇮🇸 Cost of Living in Iceland
☝️ The essentials at a glance
- A family of four, living on $5,375.53 per month in the United States, needs $6,519.16 in Iceland for the same standard of living.
- A single person who needs $2,614.84 per month in the United States to live can live on $3,477.19 in Iceland.
- The cost of living in in Iceland is on average 25.10 % lower than in the United States.
| Restaurants | |
|---|---|
| 🍽️ Meal in an inexpensive restaurant | $26.33 |
| 🥂 Three-course meal for two people in a mid-range restaurant | $137.76 |
| 🍔 Meal at McDonald’s (or similar combo meal) | $20.25 |
| 🍺 Domestic beer (0.5 liters, draft) | $12.15 |
| 🍻 Imported beer (0.33-liter bottle) | $10.53 |
| 🍺 Domestic non-alcoholic beer (0.5 liters, draft) | $0.00 |
| 🍻 Imported non-alcoholic beer (0.33-liter bottle) | $0.00 |
| ☕ Cappuccino (regular) | $6.03 |
| 🥤 Coca-Cola/Pepsi (0.33-liter bottle) | $3.26 |
| 💧 Water (0.33-liter bottle) | $2.66 |
| Groceries & Consumables | |
|---|---|
| 🥛 Milk (regular), 1 liter | $1.95 |
| 🍞 Fresh white bread (500 g) | $4.14 |
| 🍚 Rice (white), (1 kg) | $3.59 |
| 🥚 Eggs (medium size), (12 pieces) | $6.45 |
| 🧀 Local cheese (1 kg) | $18.56 |
| 🐔 Chicken fillets (1 kg) | $24.59 |
| 🥩 Beef rump (1 kg) (or similar red meat) | $43.15 |
| 🥩 Buffalo rump (1 kg) (or similar red meat) | $0.00 |
| 🍎 Apples (1 kg) | $3.32 |
| 🍌 Bananas (1 kg) | $2.50 |
| 🍊 Oranges (1 kg) | $2.95 |
| 🍅 Tomatoes (1 kg) | $5.02 |
| 🥔 Potatoes (1 kg) | $3.66 |
| 🧅 Onions (1 kg) | $2.25 |
| 🥬 Lettuce (1 head) | $3.16 |
| 💧 Water (1.5-liter bottle) | $2.25 |
| 🍷 Wine (1 bottle, mid-range) | $23.90 |
| 🍺 Domestic beer (0.5-liter bottle) | $3.66 |
| 🍻 Imported beer (0.33-liter bottle) | $3.20 |
| 🍷 Non-alcoholic wine (1 bottle, mid-range) | $0.00 |
| 🍺 Domestic non-alcoholic beer (0.5-liter bottle) | $0.00 |
| 🍻 Imported non-alcoholic beer (0.33-liter bottle) | $0.00 |
| 🚬 Cigarettes 20 pack (Marlboro) | $13.98 |
| 🥤 Coca-Cola/Pepsi (2 liters) | $3.07 |
| Personal Care & Medicine | |
|---|---|
| 💊 Cold medicine (for 1 week) | $12.69 |
| 🧴 Hair shampoo | $5.97 |
| 🧻 Toilet paper (4 rolls) | $5.30 |
| 🪥 Toothpaste | $3.71 |
| 🏥 Doctor’s visit | $94.30 |
| 💇 Haircut | $52.20 |
| Transportation | |
|---|---|
| 🚎 One-way ticket on public transport | $5.26 |
| 🎟️ Monthly pass (regular price) | $87.52 |
| 🚕 Taxi base fare (normal rate) | $6.40 |
| 📏 1 kilometer in a taxi (normal rate) | $2.62 |
| ⏳ Taxi waiting fees (normal rate) | $86.79 |
| ⛽ Gasoline (1 liter) | $2.52 |
| 🚗 Volkswagen Golf Trendline, 1.4, 90 kW (or similar new car) | $47,733.96 |
| 🚙 Toyota Corolla Sedan Comfort, 1.6, 97 kW (or similar new car) | $54,028.26 |
| Utilities (monthly) | |
|---|---|
| 🔌 Utilities (electricity, heating, air conditioning, water, waste) for an 85 m² apartment | $90.35 |
| 📱 Mobile plan with calls and more than 10 GB of data | $29.56 |
| 💻 Internet plan (Unlimited + 60 Mbps or more) | $88.58 |
| Sports and Leisure | |
|---|---|
| 💪 Gym membership fee (monthly) | $83.79 |
| 🎾 Tennis court rental (1 hour) | $45.79 |
| 🍿 Cinema ticket, Hollywood production or similar | $17.74 |
| Schools and Kindergartens | |
|---|---|
| 👶 Private daycare or preschool with full-time care per month and child | $353.58 |
| 🏫 International primary school per year and child | $30,344.65 |
| Clothing | |
|---|---|
| 👖 1 pair of jeans (Levis 501 or similar) | $140.69 |
| 👗 1 summer dress from a fashion chain (e.g., Zara, H&M, etc.) | $64.14 |
| 👟 1 pair of Nike running shoes (mid-range price) | $178.24 |
| 👞 1 pair of leather business shoes for men | $241.76 |
| Monthly Rent | |
|---|---|
| 🏙️ One-bedroom apartment in the city center | $2,228.67 |
| 🏡 One-bedroom apartment outside the city center | $2,012.54 |
| 🏙️ Three-bedroom apartment in the city center | $3,202.19 |
| 🏡 Three-bedroom apartment outside the city center | $2,739.83 |
| Apartment Purchase Price | |
|---|---|
| 🏢 Price per square meter of an apartment in the city center | $7,493.70 |
| 🏘️ Price per square meter of an apartment outside the city center | $6,359.13 |
| Salaries and Financing | |
|---|---|
| 💵 Average monthly net income | $4,476.42 |
| 🏦 Annual fixed mortgage interest rate for 20 years | 9.98 % |