Cost of living comparison

Gibraltar

compared to

Iceland

Iceland vs. Gibraltar Cost of Living Summary

Iceland is 17.7% more expensive than Gibraltar overall.

Restaurants: pay 40.1% more in Iceland
Groceries: pay 27.1% more in Iceland
Transportation: pay 21.0% more in Iceland
Housing: pay 2.2% more in Iceland
Childcare: pay 0.8% less in Iceland
Entertainment and Sports: pay 51.9% more in Iceland
Clothing: pay 19.3% more in Iceland

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

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Iceland vs. Gibraltar Cost Breakdown

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

Display currency: USD

pay 40.1% more for restaurants

	Gibraltar	Iceland
Basic meal with drink at inexpensive restaurant	$19.82 GIP14.80	$28.88 ISK3,518	+45.7%
Fast food combo meal McDonalds, or similar	$17.51 GIP13.07	$22.83 ISK2,782	+30.4%
Bottle of Coca-Cola (11 fl. oz)	$2.32 GIP1.73	$3.25 ISK395	+39.7%
Bottle of water (11 fl. oz)	$1.98 GIP1.48	$3.01 ISK367	+51.9%
Average			+40.1%

Gibraltar vs. Iceland - Cost of restaurants

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pay 27.1% more for groceries

	Gibraltar	Iceland
Bread 1 loaf	$2.47 GIP1.84	$3.55 ISK433	+43.8%
Local cheese (8 oz)	$6.02 GIP4.49	$10.11 ISK1,232	+68.0%
Milk (1 gallon)	$7.00 GIP5.23	$7.79 ISK949	+11.3%
Eggs 1 dozen	$6.20 GIP4.63	$6.92 ISK843	+11.7%
Boneless chicken breast (1 lb)	$3.82 GIP2.85	$11.01 ISK1,342	+188.2%
Apples (1 lb)	$1.35 GIP1.01	$1.43 ISK174	+5.7%
Bananas (1 lb)	$1.31 GIP0.98	$1.23 ISK149	-6.5%
Oranges (1 lb)	$1.65 GIP1.23	$1.42 ISK173	-14.0%
Tomatoes (1 lb)	$1.51 GIP1.13	$2.60 ISK317	+72.2%
Potatoes (1 lb)	$1.24 GIP0.93	$1.71 ISK208	+37.4%
Onions (1 lb)	$0.94 GIP0.70	$0.76 ISK92	-19.9%
Average			+27.1%

Gibraltar vs. Iceland - Cost of groceries

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pay 21.0% more for transportation

	Gibraltar	Iceland
Gasoline (1 gallon)	$5.61 GIP4.19	$8.09 ISK985	+44.0%
Monthly public transit pass	??	$80.58 ISK9,817
New Volkswagen Golf 1.4 (standard edition)	$49,553.88 GIP36,988.80	$48,967.53 ISK6M	-1.2%
Taxi trip in downtown area (5 miles)	??	$26.24 ISK3,196
Average			+21.0%

Gibraltar vs. Iceland - Cost of transportation

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pay 2.2% more for housing

	Gibraltar	Iceland
Internet connection 50 mbps or faster, cable/dsl	$66.07 GIP49.32	$98.24 ISK11,969	+48.7%
1-Bedroom apartment in downtown area	$2,151.74 GIP1,606.14	$2,335.24 ISK285K	+8.5%
1-Bedroom apartment outside city center	$1,593.65 GIP1,189.56	$1,824.40 ISK222K	+14.5%
Utilities for two (700 sq ft apartment) including electric, gas, water, heating	$127.54 GIP95.20	$72.34 ISK8,813	-43.3%
Average			+2.2%

Gibraltar vs. Iceland - Cost of housing

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pay 0.8% less for childcare

	Gibraltar	Iceland
Private preschool for 1 child, monthly	$1,112.65 GIP830.52	$833.66 ISK102K	-25.1%
Middle school for 1 child, two semesters	$21,142.99 GIP15,781.89	$27,752.37 ISK3M	+31.3%
Average			-0.8%

Gibraltar vs. Iceland - Cost of childcare

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pay 51.9% more for entertainment and sports

	Gibraltar	Iceland
Domestic/local beer (1 pint)	$5.29 GIP3.95	$11.37 ISK1,386	+115.2%
Cappuccino in mid-range area	$4.02 GIP3.00	$5.90 ISK718	+46.7%
Pack of cigarettes Marlboro or similar	$5.15 GIP3.85	$13.85 ISK1,688	+168.8%
Monthly membership at local gym	$79.29 GIP59.18	$83.64 ISK10,190	+5.5%
Movie ticket to theater/cinema	$13.21 GIP9.86	$17.92 ISK2,183	+35.6%
Average			+51.9%

Gibraltar vs. Iceland - Cost of entertainment and sports

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pay 19.3% more for clothing

	Gibraltar	Iceland
Regular jeans Levi's brand	$136.55 GIP101.92	$134.47 ISK16,382	-1.5%
Regular dress from H&M or similar store	$66.07 GIP49.32	$63.25 ISK7,705	-4.3%
Running shoes Nike or Adidas	$120.58 GIP90.01	$159.03 ISK19,374	+31.9%
Men's business shoes (leather)	$145.36 GIP108.50	$237.19 ISK28,897	+63.2%
Average			+19.3%

Gibraltar 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 November 2026). How we calculate this

Compare further: Gibraltar vs. Iceland

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Size Comparison · See true size

Gibraltar is about 15,846 times smaller than Iceland.

Moving from Gibraltar to Iceland · UN DESA 2010

1 people born in Gibraltar live in Iceland.

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