Australia vs. Iceland Cost of Living Summary

Australia is 37.7% more expensive than Iceland overall.

Restaurants
pay 14.5% less in Australia
Groceries
pay 5.9% less in Australia
Transportation
pay 19.1% less in Australia
Housing
pay 10.9% more in Australia
Childcare
pay 4.1 times more in Australia
Entertainment and Sports
pay 13.0% more in Australia
Clothing
pay 30.7% less in Australia

The cost of childcare, entertainment and sports, and housing in Australia are more expensive than in Iceland. Expenses including clothing, transportation, restaurants, and groceries are lower in Australia. Notably, childcare is significantly more expensive in Australia.

Australia vs. Iceland Cost Breakdown

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

pay 14.5% less for restaurants

 
Iceland
Australia
Basic meal with drink at inexpensive restaurant $19.40
ISK2,705
$16.76
A$26.53
Fast food combo meal
McDonalds, or similar
$16.94
ISK2,362
$9.73
A$15.41
Bottle of Coca-Cola (11 fl. oz) $2.81
ISK392
$2.56
A$4.06

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pay 5.9% less for groceries

 
Iceland
Australia
Bread
1 loaf
$2.95
ISK412
$2.37
A$3.76
Local cheese (8 oz) $7.27
ISK1,013
$4.36
A$6.91
Milk (1 gallon) $6.01
ISK837
$5.80
A$9.18

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pay 19.1% less for transportation

 
Iceland
Australia
Gasoline (1 gallon) $8.36
ISK1,166
$4.65
A$7.37
Monthly public transit pass $71.28
ISK9,938
$83.03
A$131.46
New Volkswagen Golf 1.4 (standard edition) $40,660.66
ISK5,669,316
$27,742.09
A$43,923.53

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pay 10.9% more for housing

 
Iceland
Australia
Internet connection
50 mbps or faster, cable/dsl
$72.17
ISK10,063
$55.59
A$88.02
1-Bedroom apartment in downtown area $1,838.04
ISK256,278
$1,182.30
A$1,871.92
1-Bedroom apartment outside city center $1,497.77
ISK208,834
$957.92
A$1,516.66

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pay 4.1 times more for childcare

 
Iceland
Australia
Private preschool for 1 child, monthly $258.16
ISK35,996
$1,485.91
A$2,352.62
Middle school for 1 child, two semesters $5,993.99
ISK835,743
$14,667.78
A$23,223.22

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pay 13.0% more for entertainment and sports

 
Iceland
Australia
Domestic/local beer (1 pint) $9.19
ISK1,281
$6.64
A$10.52
Cappuccino in mid-range area $4.65
ISK648
$3.55
A$5.61
Pack of cigarettes
Marlboro or similar
$11.76
ISK1,639
$28.07
A$44.45

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pay 30.7% less for clothing

 
Iceland
Australia
Regular jeans
Levi's brand
$111.23
ISK15,509
$71.78
A$113.64
Regular dress
from H&M or similar store
$59.69
ISK8,322
$50.24
A$79.54
Running shoes
Nike or Adidas
$148.00
ISK20,636
$100.30
A$158.80

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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: February 2025
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