Cost of living comparison
compared to
Iceland vs. Australia Cost of Living Summary
Iceland is 37.9% more expensive than Australia overall.
Iceland vs. Australia Cost Breakdown
If you lived in Iceland instead of Australia, you would:
pay 68.6% more for restaurants
|
Australia
|
Iceland
|
||
|---|---|---|---|
| Basic meal with drink at inexpensive restaurant |
$18.42
A$26.38
|
$28.88
ISK3,527
|
|
|
Fast food combo meal
McDonalds, or similar
|
$10.19
A$14.59
|
$22.83
ISK2,789
|
|
| Bottle of Coca-Cola (11 fl. oz) |
$2.88
A$4.12
|
$3.25
ISK396
|
|
| Bottle of water (11 fl. oz) |
$2.33
A$3.33
|
$3.01
ISK368
|
|
Australia vs. Iceland - Cost of restaurants
pay 28.2% more for groceries
|
Australia
|
Iceland
|
||
|---|---|---|---|
|
Bread
1 loaf
|
$2.64
A$3.78
|
$3.55
ISK434
|
|
| Local cheese (8 oz) |
$4.67
A$6.69
|
$10.11
ISK1,235
|
|
| Milk (1 gallon) |
$6.28
A$8.99
|
$7.79
ISK952
|
|
|
Eggs
1 dozen
|
$4.79
A$6.86
|
$6.92
ISK846
|
|
| Boneless chicken breast (1 lb) |
$4.19
A$6.00
|
$11.01
ISK1,345
|
|
| Apples (1 lb) |
$1.62
A$2.31
|
$1.43
ISK174
|
|
| Bananas (1 lb) |
$1.32
A$1.89
|
$1.23
ISK150
|
|
| Oranges (1 lb) |
$1.35
A$1.94
|
$1.42
ISK173
|
|
| Tomatoes (1 lb) |
$2.06
A$2.95
|
$2.60
ISK318
|
|
| Potatoes (1 lb) |
$1.19
A$1.70
|
$1.71
ISK209
|
|
| Onions (1 lb) |
$1.05
A$1.50
|
$0.76
ISK92
|
|
Australia vs. Iceland - Cost of groceries
pay 43.0% more for transportation
|
Australia
|
Iceland
|
||
|---|---|---|---|
| Gasoline (1 gallon) |
$4.98
A$7.13
|
$8.09
ISK988
|
|
| Monthly public transit pass |
$91.09
A$130.43
|
$80.58
ISK9,843
|
|
| New Volkswagen Golf 1.4 (standard edition) |
$27,191.77
A$38,934.37
|
$48,967.53
ISK6M
|
|
| Taxi trip in downtown area (5 miles) |
$17.22
A$24.66
|
$26.24
ISK3,205
|
|
Australia vs. Iceland - Cost of transportation
pay 44.0% more for housing
|
Australia
|
Iceland
|
||
|---|---|---|---|
|
Internet connection
50 mbps or faster, cable/dsl
|
$57.16
A$81.84
|
$98.24
ISK12,000
|
|
| 1-Bedroom apartment in downtown area |
$1,309.09
A$1,874.41
|
$2,335.24
ISK285K
|
|
| 1-Bedroom apartment outside city center |
$1,073.97
A$1,537.75
|
$1,824.40
ISK223K
|
|
|
Utilities for two
(700 sq ft apartment)
including electric, gas, water, heating
|
$146.37
A$209.58
|
$72.34
ISK8,836
|
|
Australia vs. Iceland - Cost of housing
pay 19.8% less for childcare
|
Australia
|
Iceland
|
||
|---|---|---|---|
| Private preschool for 1 child, monthly |
$1,957.92
A$2,803.44
|
$833.66
ISK102K
|
|
| Middle school for 1 child, two semesters |
$18,377.12
A$26,313.16
|
$27,752.37
ISK3M
|
|
Australia vs. Iceland - Cost of childcare
pay 25.6% more for entertainment and sports
|
Australia
|
Iceland
|
||
|---|---|---|---|
| Domestic/local beer (1 pint) |
$7.20
A$10.31
|
$11.37
ISK1,389
|
|
| Cappuccino in mid-range area |
$3.95
A$5.65
|
$5.90
ISK720
|
|
|
Pack of cigarettes
Marlboro or similar
|
$36.89
A$52.82
|
$13.85
ISK1,692
|
|
| Monthly membership at local gym |
$56.05
A$80.26
|
$83.64
ISK10,217
|
|
| Movie ticket to theater/cinema |
$14.44
A$20.67
|
$17.92
ISK2,189
|
|
Australia vs. Iceland - Cost of entertainment and sports
pay 55.0% more for clothing
|
Australia
|
Iceland
|
||
|---|---|---|---|
|
Regular jeans
Levi's brand
|
$77.86
A$111.48
|
$134.47
ISK16,425
|
|
|
Regular dress
from H&M or similar store
|
$53.33
A$76.36
|
$63.25
ISK7,726
|
|
|
Running shoes
Nike or Adidas
|
$112.59
A$161.21
|
$159.03
ISK19,425
|
|
| Men's business shoes (leather) |
$118.82
A$170.13
|
$237.19
ISK28,972
|
|
Australia vs. Iceland - Cost of clothing
We average the price of thousands of data points entered by users across the world. Sources: MyLifeElsewhere's cost-of-living dataset (prices updated October 2026). How we calculate this
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Compare further: Australia vs. Iceland
Salary Calculator · Free tool
What salary would you need in Iceland?
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Quality of Life Comparison · 15 statistics
Make 51.0% more money in Iceland
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Size Comparison · See true size
Australia is about 75 times bigger than Iceland.
→
Moving from Australia to Iceland · OECD 2023
25 people moved from Australia to Iceland.
→
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