Cost of living comparison

Gibraltar

compared to

Iceland

Reykjavik vs. Gibraltar Cost of Living Summary

Reykjavik is 25.8% more expensive than Gibraltar.

Restaurants: pay 54.3% more in Reykjavik
Groceries: pay 33.4% more in Reykjavik
Transportation: pay 20.2% more in Reykjavik
Housing: pay 9.6% more in Reykjavik
Childcare: pay 14.1% more in Reykjavik
Entertainment and Sports: pay 73.8% more in Reykjavik
Clothing: pay 29.4% more in Reykjavik

The cost of entertainment and sports, restaurants, groceries, clothing, transportation, and childcare in Reykjavik are more expensive than in Gibraltar.

Planning a move to Iceland? Get up to 5 free, no-obligation quotes from vetted international movers. Get free quotes →

Reykjavik vs. Gibraltar Cost Breakdown

If you lived in Reykjavik instead of Gibraltar, you would:

Display currency: USD

pay 54.3% more for restaurants

	Gibraltar	Reykjavik
Basic meal with drink at inexpensive restaurant	$19.82 GIP14.80	$31.06 ISK3,784	+56.7%
Fast food combo meal McDonalds, or similar	$17.51 GIP13.07	$26.97 ISK3,286	+54.0%
Bottle of Coca-Cola (11 fl. oz)	$2.32 GIP1.73	$3.31 ISK404	+42.6%
Bottle of water (11 fl. oz)	$1.98 GIP1.48	$3.11 ISK378	+56.7%
Average			+54.3%

Gibraltar vs. Reykjavik - Cost of restaurants

Improve prices · Change currency (USD)

pay 33.4% more for groceries

	Gibraltar	Reykjavik
Bread 1 loaf	$2.47 GIP1.84	$4.19 ISK511	+69.7%
Local cheese (8 oz)	$6.02 GIP4.49	$10.93 ISK1,332	+81.5%
Milk (1 gallon)	$7.00 GIP5.23	$7.78 ISK947	+11.1%
Eggs 1 dozen	$6.20 GIP4.63	$7.08 ISK862	+14.2%
Boneless chicken breast (1 lb)	$3.82 GIP2.85	$11.00 ISK1,340	+187.9%
Apples (1 lb)	$1.35 GIP1.01	$1.50 ISK183	+11.5%
Bananas (1 lb)	$1.31 GIP0.98	$1.27 ISK154	-3.3%
Oranges (1 lb)	$1.65 GIP1.23	$1.46 ISK178	-11.5%
Tomatoes (1 lb)	$1.51 GIP1.13	$2.93 ISK357	+93.9%
Potatoes (1 lb)	$1.24 GIP0.93	$1.78 ISK216	+42.7%
Onions (1 lb)	$0.94 GIP0.70	$0.76 ISK92	-19.9%
Average			+33.4%

Gibraltar vs. Reykjavik - Cost of groceries

Improve prices · Change currency (USD)

pay 20.2% more for transportation

	Gibraltar	Reykjavik
Gasoline (1 gallon)	$5.61 GIP4.19	$7.76 ISK946	+38.3%
Monthly public transit pass	??	$94.80 ISK11,550
New Volkswagen Golf 1.4 (standard edition)	$49,553.88 GIP36,988.80	$50,588.43 ISK6M	+2.1%
Taxi trip in downtown area (5 miles)	??	$29.26 ISK3,564
Average			+20.2%

Gibraltar vs. Reykjavik - Cost of transportation

Improve prices · Change currency (USD)

pay 9.6% more for housing

	Gibraltar	Reykjavik
Internet connection 50 mbps or faster, cable/dsl	$66.07 GIP49.32	$86.01 ISK10,478	+30.2%
1-Bedroom apartment in downtown area	$2,151.74 GIP1,606.14	$2,522.88 ISK307K	+17.2%
1-Bedroom apartment outside city center	$1,593.65 GIP1,189.56	$2,032.25 ISK248K	+27.5%
Utilities for two (700 sq ft apartment) including electric, gas, water, heating	$127.54 GIP95.20	$73.44 ISK8,947	-42.4%
Average			+9.6%

Gibraltar vs. Reykjavik - Cost of housing

Improve prices · Change currency (USD)

pay 14.1% more for childcare

	Gibraltar	Reykjavik
Private preschool for 1 child, monthly	$1,112.65 GIP830.52	$1,185.23 ISK144K	+6.5%
Middle school for 1 child, two semesters	$21,142.99 GIP15,781.89	$25,853.51 ISK3M	+22.3%
Average			+14.1%

Gibraltar vs. Reykjavik - Cost of childcare

Improve prices · Change currency (USD)

pay 73.8% more for entertainment and sports

	Gibraltar	Reykjavik
Domestic/local beer (1 pint)	$5.29 GIP3.95	$13.89 ISK1,693	+162.8%
Cappuccino in mid-range area	$4.02 GIP3.00	$6.74 ISK821	+67.7%
Pack of cigarettes Marlboro or similar	$5.15 GIP3.85	$13.89 ISK1,693	+169.6%
Monthly membership at local gym	$79.29 GIP59.18	$100.25 ISK12,214	+26.4%
Movie ticket to theater/cinema	$13.21 GIP9.86	$19.57 ISK2,385	+48.1%
Average			+73.8%

Gibraltar vs. Reykjavik - Cost of entertainment and sports

Improve prices · Change currency (USD)

pay 29.4% more for clothing

	Gibraltar	Reykjavik
Regular jeans Levi's brand	$136.55 GIP101.92	$149.01 ISK18,154	+9.1%
Regular dress from H&M or similar store	$66.07 GIP49.32	$65.79 ISK8,015	-0.4%
Running shoes Nike or Adidas	$120.58 GIP90.01	$181.84 ISK22,154	+50.8%
Men's business shoes (leather)	$145.36 GIP108.50	$248.81 ISK30,313	+71.2%
Average			+29.4%

Gibraltar vs. Reykjavik - Cost of clothing

Improve prices · Change currency (USD)

We average the price of thousands of data points entered by users across the world. Sources: MyLifeElsewhere's cost-of-living dataset (prices updated November 2026). How we calculate this

Compare further: Gibraltar vs. Reykjavik

Salary Calculator · Free tool

What salary would you need in Reykjavik?

More cost comparisons

Gibraltar vs.

Madrid

Gibraltar vs.

Rome

Gibraltar vs.

Bangkok

Gibraltar vs.

Lima

Gibraltar vs.

Ho Chi Minh City

Gibraltar vs.

Dublin

Gibraltar vs.

Warsaw

Gibraltar vs.

Athens

Share this

Compare countries by overall cost of living

See the cost of living in Gibraltar vs. Iceland. This provides a comparison of the average cost of living from cities within Gibraltar and Iceland.

Help us improve these prices

MyLifeElsewhere is a collaborative project. Please enter price information for your location to help assist us in making these comparisons more accurate. Learn more

Add prices for Gibraltar

Add prices for Reykjavik

Ask the Elsewhere Community

Join the Elsewhere community and ask a question about Reykjavik or Gibraltar. It's a free, question-and-answer based forum to discuss what life is like in countries and cities around the world.