Cost of living comparison
Madrid is 8.8% cheaper than Reykjavik.
If you lived in Madrid instead of Reykjavik, you would:
pay 22.4% less for restaurants
Reykjavik
|
Madrid
|
||
---|---|---|---|
Basic meal with drink at inexpensive restaurant |
$21.59
ISK2,985
|
$15.16
€13.94
|
|
Fast food combo meal
McDonalds, or similar
|
$17.27
ISK2,388
|
$10.32
€9.48
|
|
Bottle of Coca-Cola (11 fl. oz) |
$2.90
ISK401
|
$2.71
€2.49
|
|
Bottle of water (11 fl. oz) |
$2.07
ISK287
|
$1.81
€1.66
|
|
pay 33.3% less for groceries
Reykjavik
|
Madrid
|
||
---|---|---|---|
Bread
1 loaf
|
$3.68
ISK510
|
$1.74
€1.60
|
|
Local cheese (8 oz) |
$7.66
ISK1,059
|
$7.67
€7.05
|
|
Milk (1 gallon) |
$6.16
ISK852
|
$4.36
€4.01
|
|
Eggs
1 dozen
|
$5.91
ISK818
|
$3.02
€2.77
|
|
Boneless chicken breast (1 lb) |
$8.87
ISK1,227
|
$3.87
€3.56
|
|
Apples (1 lb) |
$1.53
ISK211
|
$1.14
€1.05
|
|
Bananas (1 lb) |
$0.97
ISK134
|
$0.89
€0.82
|
|
Oranges (1 lb) |
$1.26
ISK174
|
$0.97
€0.89
|
|
Tomatoes (1 lb) |
$2.23
ISK308
|
$1.13
€1.04
|
|
Potatoes (1 lb) |
$1.42
ISK196
|
$0.72
€0.67
|
|
Onions (1 lb) |
$1.01
ISK140
|
$0.77
€0.71
|
|
pay 22.6% less for transportation
Reykjavik
|
Madrid
|
||
---|---|---|---|
Gasoline (1 gallon) |
$8.57
ISK1,186
|
$6.78
€6.24
|
|
Monthly public transit pass |
$66.92
ISK9,254
|
$54.15
€49.77
|
|
New Volkswagen Golf 1.4 (standard edition) |
$41,660.67
ISK5,761,254
|
$36,133.87
€33,212.44
|
|
Taxi trip in downtown area (5 miles) |
$23.30
ISK3,222
|
$14.65
€13.46
|
|
pay 6.6% less for housing
Reykjavik
|
Madrid
|
||
---|---|---|---|
Internet connection
50 mbps or faster, cable/dsl
|
$68.45
ISK9,466
|
$33.64
€30.92
|
|
1-Bedroom apartment in downtown area |
$1,864.13
ISK257,791
|
$1,370.72
€1,259.90
|
|
1-Bedroom apartment outside city center |
$1,666.20
ISK230,418
|
$989.21
€909.23
|
|
Utilities for two
(700 sq ft apartment)
including electric, gas, water, heating
|
$64.43
ISK8,911
|
$123.32
€113.35
|
|
pay 96.4% more for childcare
Reykjavik
|
Madrid
|
||
---|---|---|---|
Private preschool for 1 child, monthly |
$240.37
ISK33,240
|
$543.23
€499.31
|
|
Middle school for 1 child, two semesters |
$5,984.07
ISK827,538
|
$9,978.95
€9,172.15
|
|
pay 42.5% less for entertainment and sports
Reykjavik
|
Madrid
|
||
---|---|---|---|
Domestic/local beer (1 pint) |
$10.79
ISK1,493
|
$3.79
€3.48
|
|
Cappuccino in mid-range area |
$5.09
ISK704
|
$2.63
€2.41
|
|
Pack of cigarettes
Marlboro or similar
|
$11.87
ISK1,642
|
$6.12
€5.62
|
|
Monthly membership at local gym |
$65.50
ISK9,058
|
$48.46
€44.55
|
|
Movie ticket to theater/cinema |
$14.39
ISK1,990
|
$10.83
€9.95
|
|
pay 30.6% less for clothing
Reykjavik
|
Madrid
|
||
---|---|---|---|
Regular jeans
Levi's brand
|
$103.94
ISK14,374
|
$83.95
€77.16
|
|
Regular dress
from H&M or similar store
|
$43.50
ISK6,015
|
$33.93
€31.19
|
|
Running shoes
Nike or Adidas
|
$141.47
ISK19,564
|
$87.19
€80.14
|
|
Men's business shoes (leather) |
$174.65
ISK24,153
|
$99.93
€91.85
|
|
Change currency:
ASK THE ELSEWHERE COMMUNITY
Join the Elsewhere community and ask a question about Madrid or Reykjavik. It's a free, question-and-answer based forum to discuss what life is like in countries and cities around the world.