Cost of living comparison
compared to
Iceland vs. Australia Cost of Living Summary
Iceland is 48.9% more expensive than Australia overall.
- Restaurants
-
pay 55.2% more in Iceland
- Groceries
-
pay 49.3% more in Iceland
- Transportation
-
pay 57.2% more in Iceland
- Housing
-
pay 51.4% more in Iceland
- Childcare
-
pay 22.2% more in Iceland
- Entertainment and Sports
-
pay 31.8% more in Iceland
- Clothing
-
pay 75.1% more in Iceland
The cost of clothing, transportation, restaurants, housing, groceries, and entertainment and sports in Iceland are more expensive than in Australia. Notably, clothing is significantly more expensive in Iceland.
Iceland vs. Australia Cost Breakdown
If you lived in Iceland instead of Australia, you would:
pay 55.2% more for restaurants
|
Australia
|
Iceland
|
||
|---|---|---|---|
| Basic meal with drink at inexpensive restaurant |
$17.15
A$26.23
|
$26.52
ISK3,394
|
|
|
Fast food combo meal
McDonalds, or similar
|
$9.64
A$14.74
|
$21.32
ISK2,728
|
|
| Bottle of Coca-Cola (11 fl. oz) |
$2.63
A$4.03
|
$3.11
ISK398
|
|
| Bottle of water (11 fl. oz) |
$2.14
A$3.28
|
$2.72
ISK348
|
|
Australia vs. Iceland - Cost of restaurants
pay 49.3% more for groceries
|
Australia
|
Iceland
|
||
|---|---|---|---|
|
Bread
1 loaf
|
$2.39
A$3.66
|
$3.80
ISK487
|
|
| Local cheese (8 oz) |
$4.21
A$6.45
|
$9.44
ISK1,208
|
|
| Milk (1 gallon) |
$5.84
A$8.94
|
$7.78
ISK996
|
|
|
Eggs
1 dozen
|
$4.36
A$6.68
|
$6.71
ISK859
|
|
| Boneless chicken breast (1 lb) |
$3.87
A$5.92
|
$11.22
ISK1,436
|
|
| Apples (1 lb) |
$1.48
A$2.27
|
$1.50
ISK191
|
|
| Bananas (1 lb) |
$1.27
A$1.94
|
$1.15
ISK147
|
|
| Oranges (1 lb) |
$1.32
A$2.01
|
$1.41
ISK181
|
|
| Tomatoes (1 lb) |
$1.93
A$2.95
|
$2.34
ISK300
|
|
| Potatoes (1 lb) |
$1.10
A$1.68
|
$1.65
ISK211
|
|
| Onions (1 lb) |
$0.97
A$1.49
|
$1.09
ISK140
|
|
Australia vs. Iceland - Cost of groceries
pay 57.2% more for transportation
|
Australia
|
Iceland
|
||
|---|---|---|---|
| Gasoline (1 gallon) |
$4.48
A$6.85
|
$9.65
ISK1,235
|
|
| Monthly public transit pass |
$86.18
A$131.83
|
$79.56
ISK10,182
|
|
| New Volkswagen Golf 1.4 (standard edition) |
$27,666.22
A$42,322.49
|
$49,144.25
ISK6,289,481
|
|
| Taxi trip in downtown area (5 miles) |
$17.83
A$27.28
|
$25.55
ISK3,270
|
|
Australia vs. Iceland - Cost of transportation
pay 51.4% more for housing
|
Australia
|
Iceland
|
||
|---|---|---|---|
|
Internet connection
50 mbps or faster, cable/dsl
|
$54.93
A$84.03
|
$95.65
ISK12,241
|
|
| 1-Bedroom apartment in downtown area |
$1,188.50
A$1,818.11
|
$2,289.17
ISK292,968
|
|
| 1-Bedroom apartment outside city center |
$962.42
A$1,472.26
|
$1,830.04
ISK234,209
|
|
|
Utilities for two
(700 sq ft apartment)
including electric, gas, water, heating
|
$133.71
A$204.55
|
$65.15
ISK8,338
|
|
Australia vs. Iceland - Cost of housing
pay 22.2% more for childcare
|
Australia
|
Iceland
|
||
|---|---|---|---|
| Private preschool for 1 child, monthly |
$1,475.00
A$2,256.38
|
$334.67
ISK42,830
|
|
| Middle school for 1 child, two semesters |
$13,848.50
A$21,184.78
|
$30,711.08
ISK3,930,404
|
|
Australia vs. Iceland - Cost of childcare
pay 31.8% more for entertainment and sports
|
Australia
|
Iceland
|
||
|---|---|---|---|
| Domestic/local beer (1 pint) |
$6.47
A$9.90
|
$11.14
ISK1,426
|
|
| Cappuccino in mid-range area |
$3.56
A$5.45
|
$5.62
ISK720
|
|
|
Pack of cigarettes
Marlboro or similar
|
$28.78
A$44.02
|
$13.90
ISK1,778
|
|
| Monthly membership at local gym |
$51.13
A$78.22
|
$78.17
ISK10,004
|
|
| Movie ticket to theater/cinema |
$13.10
A$20.04
|
$16.75
ISK2,144
|
|
Australia vs. Iceland - Cost of entertainment and sports
pay 75.1% more for clothing
|
Australia
|
Iceland
|
||
|---|---|---|---|
|
Regular jeans
Levi's brand
|
$69.65
A$106.54
|
$130.91
ISK16,753
|
|
|
Regular dress
from H&M or similar store
|
$48.53
A$74.24
|
$61.83
ISK7,913
|
|
|
Running shoes
Nike or Adidas
|
$99.22
A$151.78
|
$163.81
ISK20,965
|
|
| Men's business shoes (leather) |
$107.98
A$165.18
|
$237.31
ISK30,371
|
|
Australia vs. Iceland - Cost of clothing
The statistics used to build this comparison are calculated using data from users just like you.
We average the price of thousands of data points entered by users across the world.
Learn more about our data sources. Page last updated: December 2025
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