Cost of living comparison

Austria

compared to

Iceland

Iceland vs. Austria Cost of Living Summary

Iceland is 51.6% more expensive than Austria overall.

Restaurants: pay 53.1% more in Iceland
Groceries: pay 28.1% more in Iceland
Transportation: pay 33.5% more in Iceland
Housing: pay 71.1% more in Iceland
Childcare: pay 56.6% more in Iceland
Entertainment and Sports: pay 62.2% more in Iceland
Clothing: pay 56.4% more in Iceland

The cost of housing, entertainment and sports, childcare, clothing, restaurants, and transportation in Iceland are more expensive than in Austria.

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Iceland vs. Austria Cost Breakdown

If you lived in Iceland instead of Austria, you would:

Display currency: USD

pay 53.1% more for restaurants

	Austria	Iceland
Basic meal with drink at inexpensive restaurant	$17.46 €15.54	$28.88 ISK3,499	+65.4%
Fast food combo meal McDonalds, or similar	$12.35 €10.99	$22.83 ISK2,767	+84.9%
Bottle of Coca-Cola (11 fl. oz)	$3.78 €3.36	$3.25 ISK393	-14.1%
Bottle of water (11 fl. oz)	$3.01 €2.68	$3.01 ISK365	-0.1%
Average			+53.1%

Austria vs. Iceland - Cost of restaurants

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pay 28.1% more for groceries

	Austria	Iceland
Bread 1 loaf	$2.57 €2.29	$3.55 ISK431	+38.1%
Local cheese (8 oz)	$8.98 €8.00	$10.11 ISK1,226	+12.6%
Milk (1 gallon)	$6.13 €5.46	$7.79 ISK944	+27.1%
Eggs 1 dozen	$4.57 €4.06	$6.92 ISK839	+51.6%
Boneless chicken breast (1 lb)	$6.11 €5.44	$11.01 ISK1,334	+80.2%
Apples (1 lb)	$1.25 €1.11	$1.43 ISK173	+14.4%
Bananas (1 lb)	$1.00 €0.89	$1.23 ISK148	+21.9%
Oranges (1 lb)	$1.36 €1.21	$1.42 ISK172	+4.6%
Tomatoes (1 lb)	$1.85 €1.65	$2.60 ISK315	+40.4%
Potatoes (1 lb)	$0.97 €0.86	$1.71 ISK207	+77.0%
Onions (1 lb)	$0.97 €0.86	$0.76 ISK92	-22.1%
Average			+28.1%

Austria vs. Iceland - Cost of groceries

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pay 33.5% more for transportation

	Austria	Iceland
Gasoline (1 gallon)	$7.11 €6.33	$8.09 ISK980	+13.7%
Monthly public transit pass	$57.51 €51.19	$80.58 ISK9,765	+40.1%
New Volkswagen Golf 1.4 (standard edition)	$29,576.16 €26,323.85	$48,967.53 ISK6M	+65.6%
Taxi trip in downtown area (5 miles)	$24.10 €21.45	$26.24 ISK3,179	+8.9%
Average			+33.5%

Austria vs. Iceland - Cost of transportation

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pay 71.1% more for housing

	Austria	Iceland
Internet connection 50 mbps or faster, cable/dsl	$35.97 €32.02	$98.24 ISK11,905	+173.1%
1-Bedroom apartment in downtown area	$964.19 €858.16	$2,335.24 ISK283K	+142.2%
1-Bedroom apartment outside city center	$803.82 €715.43	$1,824.40 ISK221K	+127.0%
Utilities for two (700 sq ft apartment) including electric, gas, water, heating	$265.50 €236.31	$72.34 ISK8,766	-72.8%
Average			+71.1%

Austria vs. Iceland - Cost of housing

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pay 56.6% more for childcare

	Austria	Iceland
Private preschool for 1 child, monthly	$557.81 €496.47	$833.66 ISK101K	+49.5%
Middle school for 1 child, two semesters	$16,914.08 €15,054.14	$27,752.37 ISK3M	+64.1%
Average			+56.6%

Austria vs. Iceland - Cost of childcare

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pay 62.2% more for entertainment and sports

	Austria	Iceland
Domestic/local beer (1 pint)	$5.34 €4.75	$11.37 ISK1,378	+113.0%
Cappuccino in mid-range area	$4.45 €3.96	$5.90 ISK715	+32.5%
Pack of cigarettes Marlboro or similar	$7.41 €6.59	$13.85 ISK1,679	+87.1%
Monthly membership at local gym	$46.11 €41.04	$83.64 ISK10,136	+81.4%
Movie ticket to theater/cinema	$13.84 €12.32	$17.92 ISK2,171	+29.5%
Average			+62.2%

Austria vs. Iceland - Cost of entertainment and sports

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pay 56.4% more for clothing

	Austria	Iceland
Regular jeans Levi's brand	$95.22 €84.75	$134.47 ISK16,295	+41.2%
Regular dress from H&M or similar store	$45.58 €40.57	$63.25 ISK7,664	+38.8%
Running shoes Nike or Adidas	$102.93 €91.61	$159.03 ISK19,271	+54.5%
Men's business shoes (leather)	$120.01 €106.82	$237.19 ISK28,742	+97.6%
Average			+56.4%

Austria vs. Iceland - Cost of clothing

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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

Compare further: Austria vs. Iceland

Salary Calculator · Free tool

What salary would you need in Iceland?

Quality of Life Comparison · 18 statistics

Make 56.2% more money in Iceland

Size Comparison · See true size

Austria is about 1.2 times smaller than Iceland.

Moving from Austria to Iceland · OECD 2023

41 people moved from Austria to Iceland.

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