Cost of living comparison
Faro is 20.2% cheaper than Iceland.
If you lived in Faro instead of Iceland, you would:
pay 41.3% less for restaurants
Iceland
|
Faro
|
||
---|---|---|---|
Basic meal with drink at inexpensive restaurant |
$19.51
ISK2,682
|
$13.00
€11.97
|
|
Fast food combo meal
McDonalds, or similar
|
$16.45
ISK2,261
|
$8.66
€7.98
|
|
Bottle of Coca-Cola (11 fl. oz) |
$2.70
ISK372
|
$1.54
€1.42
|
|
Bottle of water (11 fl. oz) |
$1.95
ISK269
|
$1.14
€1.05
|
|
pay 31.9% less for groceries
Iceland
|
Faro
|
||
---|---|---|---|
Bread
1 loaf
|
$3.16
ISK434
|
$1.74
€1.61
|
|
Local cheese (8 oz) |
$6.72
ISK923
|
$6.23
€5.74
|
|
Milk (1 gallon) |
$6.27
ISK862
|
$3.96
€3.65
|
|
Eggs
1 dozen
|
$6.03
ISK829
|
$2.70
€2.49
|
|
Boneless chicken breast (1 lb) |
$7.60
ISK1,045
|
$3.19
€2.94
|
|
Apples (1 lb) |
$1.13
ISK155
|
$1.09
€1.00
|
|
Bananas (1 lb) |
$1.01
ISK139
|
$0.63
€0.58
|
|
Oranges (1 lb) |
$1.15
ISK159
|
$0.62
€0.57
|
|
Tomatoes (1 lb) |
$1.71
ISK235
|
$0.84
€0.78
|
|
Potatoes (1 lb) |
$1.13
ISK155
|
$0.60
€0.55
|
|
Onions (1 lb) |
$0.68
ISK94
|
$0.93
€0.86
|
|
pay 28.0% less for transportation
Iceland
|
Faro
|
||
---|---|---|---|
Gasoline (1 gallon) |
$8.42
ISK1,157
|
$6.83
€6.29
|
|
Monthly public transit pass |
$68.29
ISK9,387
|
$25.99
€23.94
|
|
New Volkswagen Golf 1.4 (standard edition) |
$39,714.69
ISK5,458,784
|
$46,026.95
€42,395.75
|
|
Taxi trip in downtown area (5 miles) |
$23.23
ISK3,193
|
$12.24
€11.27
|
|
pay 18.3% less for housing
Iceland
|
Faro
|
||
---|---|---|---|
Internet connection
50 mbps or faster, cable/dsl
|
$74.47
ISK10,236
|
$33.93
€31.26
|
|
1-Bedroom apartment in downtown area |
$1,518.94
ISK208,778
|
$961.15
€885.32
|
|
1-Bedroom apartment outside city center |
$1,325.48
ISK182,187
|
$812.24
€748.16
|
|
Utilities for two
(700 sq ft apartment)
including electric, gas, water, heating
|
$66.99
ISK9,208
|
$104.90
€96.63
|
|
pay 83.5% more for childcare
Iceland
|
Faro
|
||
---|---|---|---|
Private preschool for 1 child, monthly |
$254.97
ISK35,045
|
$438.61
€404.01
|
|
Middle school for 1 child, two semesters |
$5,993.83
ISK823,851
|
$11,696.26
€10,773.51
|
|
pay 50.7% less for entertainment and sports
Iceland
|
Faro
|
||
---|---|---|---|
Domestic/local beer (1 pint) |
$9.37
ISK1,288
|
$2.17
€2.00
|
|
Cappuccino in mid-range area |
$4.61
ISK634
|
$2.71
€2.49
|
|
Pack of cigarettes
Marlboro or similar
|
$11.22
ISK1,542
|
$5.47
€5.04
|
|
Monthly membership at local gym |
$60.00
ISK8,247
|
$36.82
€33.92
|
|
Movie ticket to theater/cinema |
$13.94
ISK1,916
|
$7.58
€6.98
|
|
pay 54.9% less for clothing
Iceland
|
Faro
|
||
---|---|---|---|
Regular jeans
Levi's brand
|
$108.23
ISK14,877
|
$44.40
€40.90
|
|
Regular dress
from H&M or similar store
|
$59.73
ISK8,210
|
$32.49
€29.93
|
|
Running shoes
Nike or Adidas
|
$146.94
ISK20,197
|
$70.39
€64.84
|
|
Men's business shoes (leather) |
$169.24
ISK23,262
|
$63.17
€58.19
|
|
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