Cost of living comparison
Iceland is 33.1% more expensive than Madrid.
If you lived in Iceland instead of Madrid, you would:
pay 27.8% more for restaurants
|
Madrid
|
Iceland
|
||
|---|---|---|---|
| Basic meal with drink at inexpensive restaurant |
$13.19
€12.32
|
$17.84
ISK2,504
|
|
|
Fast food combo meal
McDonalds, or similar
|
$8.80
€8.22
|
$14.27
ISK2,003
|
|
| Bottle of Coca-Cola (11 fl. oz) |
$2.53
€2.36
|
$2.32
ISK325
|
|
| Bottle of water (11 fl. oz) |
$1.74
€1.62
|
$2.12
ISK298
|
|
pay 49.6% more for groceries
|
Madrid
|
Iceland
|
||
|---|---|---|---|
|
Bread
1 loaf
|
$1.25
€1.17
|
$3.42
ISK481
|
|
| Local cheese (8 oz) |
$5.92
€5.53
|
$5.98
ISK840
|
|
| Milk (1 gallon) |
$3.90
€3.65
|
$5.33
ISK748
|
|
|
Eggs
1 dozen
|
$2.69
€2.51
|
$5.66
ISK794
|
|
| Boneless chicken breast (1 lb) |
$3.74
€3.50
|
$7.09
ISK996
|
|
| Apples (1 lb) |
$1.08
€1.01
|
$1.16
ISK163
|
|
| Bananas (1 lb) |
$0.98
€0.91
|
$0.98
ISK138
|
|
| Oranges (1 lb) |
$0.86
€0.80
|
$1.17
ISK164
|
|
| Tomatoes (1 lb) |
$1.03
€0.96
|
$1.84
ISK258
|
|
| Potatoes (1 lb) |
$0.67
€0.63
|
$0.96
ISK134
|
|
| Onions (1 lb) |
$0.74
€0.69
|
$0.51
ISK72
|
|
pay 30.5% more for transportation
|
Madrid
|
Iceland
|
||
|---|---|---|---|
| Gasoline (1 gallon) |
$7.44
€6.95
|
$8.03
ISK1,128
|
|
| Monthly public transit pass |
$59.37
€55.46
|
$77.40
ISK10,866
|
|
| New Volkswagen Golf 1.4 (standard edition) |
$27,693.49
€25,868.65
|
$29,836.83
ISK4,189,091
|
|
| Taxi trip in downtown area (5 miles) |
$13.63
€12.73
|
$23.97
ISK3,365
|
|
pay 29.4% more for housing
|
Madrid
|
Iceland
|
||
|---|---|---|---|
|
Internet connection
50 mbps or faster, cable/dsl
|
$34.19
€31.93
|
$62.40
ISK8,761
|
|
| 1-Bedroom apartment in downtown area |
$1,094.67
€1,022.54
|
$1,437.14
ISK201,775
|
|
| 1-Bedroom apartment outside city center |
$816.29
€762.50
|
$1,215.63
ISK170,674
|
|
|
Utilities for two
(700 sq ft apartment)
including electric, gas, water, heating
|
$125.07
€116.83
|
$68.63
ISK9,636
|
|
pay 61.0% less for childcare
|
Madrid
|
Iceland
|
||
|---|---|---|---|
| Private preschool for 1 child, monthly |
$529.47
€494.58
|
$259.34
ISK36,412
|
|
| Middle school for 1 child, two semesters |
$9,499.24
€8,873.30
|
$2,750.10
ISK386,114
|
|
pay 80.0% more for entertainment and sports
|
Madrid
|
Iceland
|
||
|---|---|---|---|
| Domestic/local beer (1 pint) |
$3.30
€3.08
|
$8.52
ISK1,196
|
|
| Cappuccino in mid-range area |
$2.17
€2.03
|
$4.15
ISK583
|
|
|
Pack of cigarettes
Marlboro or similar
|
$5.61
€5.24
|
$10.64
ISK1,493
|
|
| Monthly membership at local gym |
$41.71
€38.96
|
$56.90
ISK7,989
|
|
| Movie ticket to theater/cinema |
$9.90
€9.24
|
$12.27
ISK1,723
|
|
pay 75.4% more for clothing
|
Madrid
|
Iceland
|
||
|---|---|---|---|
|
Regular jeans
Levi's brand
|
$67.45
€63.01
|
$118.08
ISK16,578
|
|
|
Regular dress
from H&M or similar store
|
$35.01
€32.71
|
$50.39
ISK7,075
|
|
|
Running shoes
Nike or Adidas
|
$76.87
€71.81
|
$151.12
ISK21,217
|
|
| Men's business shoes (leather) |
$94.21
€88.00
|
$175.20
ISK24,598
|
|
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