Cost of living in Iceland

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These numbers reflect the average prices of 4 cities in Iceland, such as Akureyri, Keflavik, Reykjavik, Hafnarfjorour, and more. To view the cost of living in a specific city in Iceland, select a city on the right hand side.

Restaurants	Cost	Range
Basic meal with drink at inexpensive restaurant	$15.54 kr1,631	$10.42 - $23.55
Fast food combo meal McDonalds, or similar	$12.54 kr1,316	$10.60 - $14.49
Bottle of Coca-Cola (11 fl. oz)	$2.37 kr249	$1.73 - $3.44
Bottle of water (11 fl. oz)	$1.68 kr177	$1.40 - $2.17

Iceland - Cost of restaurants

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Groceries	Cost	Range
Bread 1 loaf	$3.04 kr319	$2.23 - $4.86
Local cheese (8 oz)	$5.12 kr538	$3.80 - $6.56
Milk (1 gallon)	$4.59 kr482	$4.22 - $5.76
Eggs 1 dozen	$5.23 kr549	$3.99 - $6.42
Boneless chicken breast (1 lb)	$6.56 kr689	$5.42 - $7.56
Apples (1 lb)	$0.98 kr103	$0.67 - $1.36
Bananas (1 lb)	$0.83 kr88	$0.73 - $1.13
Oranges (1 lb)	$1.02 kr107	$0.89 - $1.69
Tomatoes (1 lb)	$1.68 kr176	$1.32 - $2.14
Potatoes (1 lb)	$0.96 kr100	$0.66 - $1.23
Onions (1 lb)	$0.55 kr58	$0.39 - $1.01

Iceland - Cost of groceries

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Transportation	Cost	Range
Gasoline (1 gallon)	$5.96 kr626	$5.48 - $6.83
Monthly public transit pass	$90.41 kr9,489	$88.78 - $92.04
New Volkswagen Golf 1.4 (standard edition)	$26,163.21 kr2,745,829	$23,282.36 - $28,627.34
Taxi trip in downtown area (5 miles)	$22.36 kr2,347	$20.69 - $37.03

Iceland - Cost of transportation

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Housing	Cost	Range
Internet connection 50 mbps or faster, cable/dsl	$63.30 kr6,644	$48.56 - $97.84
1-Bedroom apartment in downtown area	$1,285.14 kr134,875	$1,059.94 - $1,503.84
1-Bedroom apartment outside city center	$1,064.16 kr111,684	$833.45 - $1,329.90
Utilities for two (700 sq ft apartment) including electric, gas, water, heating	$69.69 kr7,314	$44.53 - $103.22

Iceland - Cost of housing

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Childcare	Cost	Range
Private preschool for 1 child, monthly	$279.46 kr29,329	$234.64 - $339.72
Middle school for 1 child, two semesters	$3,014.93 kr316,417	$2,543.85 - $8,247.57

Iceland - Cost of childcare

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Entertainment and Sports	Cost	Range
Domestic/local beer (1 pint)	$7.97 kr837	$6.02 - $10.33
Cappuccino in mid-range area	$4.17 kr438	$2.92 - $5.89
Pack of cigarettes Marlboro or similar	$10.58 kr1,110	$10.11 - $11.20
Monthly membership at local gym	$50.68 kr5,319	$41.67 - $68.23
Movie ticket to theater/cinema	$11.05 kr1,159	$9.78 - $17.39

Iceland - Cost of entertainment and sports

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Clothing	Cost	Range
Regular jeans Levi's brand	$104.95 kr11,015	$77.91 - $141.32
Regular dress from H&M or similar store	$60.45 kr6,345	$30.80 - $90.59
Running shoes Nike or Adidas	$154.03 kr16,166	$112.34 - $185.53
Men's business shoes (leather)	$161.72 kr16,973	$117.77 - $244.60

Iceland - Cost of clothing

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The statistics on this page are calculated from 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 source collection.

Page last updated: October 2020

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