Cost of Living in Iceland

Summary:

Restaurants
Edit Range
Meal, Inexpensive Restaurant 2,500.00 kr 1,800.00-5,000.00
Meal for 2 People, Mid-range Restaurant, Three-course 15,000.00 kr 10,000.00-20,000.00
McMeal at McDonalds (or Equivalent Combo Meal) 2,000.00 kr 1,750.00-2,500.00
Domestic Beer (1 pint draught) 1,200.00 kr 1,000.00-1,600.00
Imported Beer (12 oz small bottle) 1,000.00 kr 800.00-1,500.00
Cappuccino (regular) 607.06 kr 400.00-900.00
Coke/Pepsi (12 oz small bottle) 350.27 kr 250.00-500.00
Water (12 oz small bottle) 281.51 kr 200.00-420.36
Markets
Edit
Milk (regular), (1 gallon) 772.56 kr 632.16-927.43
Loaf of Fresh White Bread (1 lb) 395.61 kr 234.96-725.75
Rice (white), (1 lb) 187.52 kr 106.59-340.19
Eggs (regular) (12) 729.85 kr 562.80-1,140.00
Local Cheese (1 lb) 816.11 kr 478.09-1,179.34
Chicken Fillets (1 lb) 1,040.88 kr 816.01-1,273.69
Beef Round (1 lb) (or Equivalent Back Leg Red Meat) 1,637.06 kr 907.19-2,494.76
Apples (1 lb) 194.75 kr 113.40-339.74
Banana (1 lb) 137.26 kr 106.59-226.80
Oranges (1 lb) 158.35 kr 122.02-340.19
Tomato (1 lb) 274.07 kr 140.12-408.23
Potato (1 lb) 161.92 kr 90.72-235.41
Onion (1 lb) 84.68 kr 45.36-226.80
Lettuce (1 head) 383.71 kr 200.00-700.00
Water (1.5 liter bottle) 255.00 kr 109.00-529.00
Bottle of Wine (Mid-Range) 2,500.00 kr 2,000.00-4,500.00
Domestic Beer (0.5 liter bottle) 416.83 kr 330.00-575.00
Imported Beer (12 oz small bottle) 363.32 kr 300.00-500.00
Cigarettes 20 Pack (Marlboro) 1,570.00 kr 1,400.00-1,990.00
Transportation
Edit
One-way Ticket (Local Transport) 490.00 kr 460.00-590.00
Monthly Pass (Regular Price) 8,560.00 kr 7,500.00-13,300.00
Taxi Start (Normal Tariff) 730.00 kr 670.00-850.00
Taxi 1 mile (Normal Tariff) 532.69 kr 402.34-804.67
Taxi 1hour Waiting (Normal Tariff) 8,000.00 kr 7,920.00-9,360.00
Gasoline (1 gallon) 1,157.69 kr 893.36-1,321.11
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) 4,395,000.00 kr 3,800,000.00-5,290,000.00
Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) 4,897,842.11 kr 4,150,000.00-5,999,000.00
Utilities (Monthly)
Edit
Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment 14,575.23 kr 7,200.00-25,000.00
1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) 14.43 kr 5.50-20.00
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) 9,328.54 kr 6,500.00-13,000.00
Sports And Leisure
Edit
Fitness Club, Monthly Fee for 1 Adult 8,573.44 kr 6,500.00-14,500.00
Tennis Court Rent (1 Hour on Weekend) 4,861.25 kr 2,600.00-6,400.00
Cinema, International Release, 1 Seat 1,787.50 kr 1,400.00-2,050.00
Childcare
Edit
Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child 36,842.63 kr 29,000.00-60,000.00
International Primary School, Yearly for 1 Child 642,500.00 kr 300,000.00-1,000,000.00
Clothing And Shoes
Edit
1 Pair of Jeans (Levis 501 Or Similar) 15,678.60 kr 8,200.00-20,000.00
1 Summer Dress in a Chain Store (Zara, H&M, ...) 7,003.40 kr 3,700.00-16,000.00
1 Pair of Nike Running Shoes (Mid-Range) 20,180.31 kr 10,200.00-25,000.00
1 Pair of Men Leather Business Shoes 24,055.40 kr 15,000.00-35,000.00
Rent Per Month
Edit
Apartment (1 bedroom) in City Centre 207,355.67 kr 160,000.00-255,000.00
Apartment (1 bedroom) Outside of Centre 174,494.34 kr 120,000.00-230,000.00
Apartment (3 bedrooms) in City Centre 290,219.51 kr 250,000.00-450,000.00
Apartment (3 bedrooms) Outside of Centre 250,631.58 kr 210,000.00-310,000.00
Buy Apartment Price
Edit
Price per Square Feet to Buy Apartment in City Centre 68,942.35 kr 47,380.16-92,902.27
Price per Square Feet to Buy Apartment Outside of Centre 51,203.74 kr 37,160.91-74,321.81
Salaries And Financing
Edit
Average Monthly Net Salary (After Tax) 551,100.35 kr
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 5.81 3.50-8.00

Prices in Iceland

This country had 1533 entries in the past 12 months by 210 different contributors.
Last update: March 2023
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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