Cost of living comparison

Iceland

compared to

Faroe Islands

Faroe Islands vs. Iceland Cost of Living Summary

Faroe Islands is 25.3% cheaper than Iceland overall.

Restaurants: pay 23.7% less in Faroe Islands
Groceries: pay 26.3% more in Faroe Islands
Transportation: pay 41.2% less in Faroe Islands
Housing: pay 42.4% less in Faroe Islands
Childcare: pay 41.4% less in Faroe Islands
Entertainment and Sports: pay 15.7% less in Faroe Islands
Clothing: pay 1.7% more in Faroe Islands

The cost of groceries and clothing in Faroe Islands are more expensive than in Iceland. Expenses including housing, childcare, transportation, restaurants, and entertainment and sports are lower in Faroe Islands.

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

Faroe Islands vs. Iceland Cost Breakdown

If you lived in Faroe Islands instead of Iceland, you would:

Display currency: USD

pay 23.7% less for restaurants

	Iceland	Faroe Islands
Basic meal with drink at inexpensive restaurant	$28.88 ISK3,499	$18.71 DKK124.42	-35.2%
Fast food combo meal McDonalds, or similar	$22.83 ISK2,767	$19.96 DKK132.75	-12.6%
Bottle of Coca-Cola (11 fl. oz)	$3.25 ISK393	$3.12 DKK20.76	-3.8%
Bottle of water (11 fl. oz)	$3.01 ISK365	$2.37 DKK15.78	-21.2%
Average			-23.7%

Iceland vs. Faroe Islands - Cost of restaurants

Improve prices · Change currency (USD)

pay 26.3% more for groceries

	Iceland	Faroe Islands
Bread 1 loaf	$3.55 ISK431	$8.07 DKK53.68	+127.1%
Local cheese (8 oz)	$10.11 ISK1,226	$6.92 DKK46.02	-31.6%
Milk (1 gallon)	$7.79 ISK944	$9.97 DKK66.34	+28.0%
Eggs 1 dozen	$6.92 ISK839	$6.35 DKK42.25	-8.3%
Boneless chicken breast (1 lb)	$11.01 ISK1,334	$6.46 DKK42.94	-41.4%
Apples (1 lb)	$1.43 ISK173	$1.83 DKK12.20	+28.7%
Bananas (1 lb)	$1.23 ISK148	$2.51 DKK16.72	+105.2%
Oranges (1 lb)	$1.42 ISK172	$2.72 DKK18.08	+91.8%
Tomatoes (1 lb)	$2.60 ISK315	$2.34 DKK15.59	-9.9%
Potatoes (1 lb)	$1.71 ISK207	$1.65 DKK11.00	-3.3%
Onions (1 lb)	$0.76 ISK92	$2.08 DKK13.86	+175.6%
Average			+26.3%

Iceland vs. Faroe Islands - Cost of groceries

Improve prices · Change currency (USD)

pay 41.2% less for transportation

	Iceland	Faroe Islands
Gasoline (1 gallon)	$8.09 ISK980	$6.59 DKK43.81	-18.5%
Monthly public transit pass	$80.58 ISK9,765	$29.96 DKK199.28	-62.8%
New Volkswagen Golf 1.4 (standard edition)	$48,967.53 ISK6M	??
Taxi trip in downtown area (5 miles)	$26.24 ISK3,179	??
Average			-41.2%

Iceland vs. Faroe Islands - Cost of transportation

Improve prices · Change currency (USD)

pay 42.4% less for housing

	Iceland	Faroe Islands
Internet connection 50 mbps or faster, cable/dsl	$98.24 ISK11,905	$89.88 DKK597.84	-8.5%
1-Bedroom apartment in downtown area	$2,335.24 ISK283K	$1,084.60 DKK7,213.90	-53.6%
1-Bedroom apartment outside city center	$1,824.40 ISK221K	$894.30 DKK5,948.17	-51.0%
Utilities for two (700 sq ft apartment) including electric, gas, water, heating	$72.34 ISK8,766	$98.04 DKK652.11	+35.5%
Average			-42.4%

Iceland vs. Faroe Islands - Cost of housing

Improve prices · Change currency (USD)

pay 41.4% less for childcare

	Iceland	Faroe Islands
Private preschool for 1 child, monthly	$833.66 ISK101K	$488.12 DKK3,246.59	-41.4%
Middle school for 1 child, two semesters	$27,752.37 ISK3M	??
Average			-41.4%

Iceland vs. Faroe Islands - Cost of childcare

Improve prices · Change currency (USD)

pay 15.7% less for entertainment and sports

	Iceland	Faroe Islands
Domestic/local beer (1 pint)	$11.37 ISK1,378	$9.48 DKK63.08	-16.6%
Cappuccino in mid-range area	$5.90 ISK715	$6.45 DKK42.89	+9.4%
Pack of cigarettes Marlboro or similar	$13.85 ISK1,679	$11.24 DKK74.73	-18.9%
Monthly membership at local gym	$83.64 ISK10,136	$55.13 DKK366.67	-34.1%
Movie ticket to theater/cinema	$17.92 ISK2,171	$16.10 DKK107.11	-10.1%
Average			-15.7%

Iceland vs. Faroe Islands - Cost of entertainment and sports

Improve prices · Change currency (USD)

pay 1.7% more for clothing

	Iceland	Faroe Islands
Regular jeans Levi's brand	$134.47 ISK16,295	$140.41 DKK933.87	+4.4%
Regular dress from H&M or similar store	$63.25 ISK7,664	$59.92 DKK398.56	-5.3%
Running shoes Nike or Adidas	$159.03 ISK19,271	$166.66 DKK1,108.49	+4.8%
Men's business shoes (leather)	$237.19 ISK28,742	$244.68 DKK1,627.45	+3.2%
Average			+1.7%

Iceland vs. Faroe Islands - 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 October 2026). How we calculate this

Compare further: Iceland vs. Faroe Islands

Salary Calculator · Free tool

What salary would you need in Faroe Islands?

Quality of Life Comparison · 5 statistics

Make 24.6% less money in Faroe Islands

Size Comparison · See true size

Iceland is about 74 times bigger than Faroe Islands.

Moving from Iceland to Faroe Islands · UN DESA 2020

256 people born in Iceland live in Faroe Islands.

More cost comparisons

Iceland vs.

United States

Iceland vs.

Switzerland

Iceland vs.

United Kingdom

Iceland vs.

Norway

Iceland vs.

Canada

Iceland vs.

Hawaii

Iceland vs.

Denmark

Iceland vs.

Sweden

Share this

Compare by city

For example, try comparing the cost of living in Reykjavik vs. Torshavn

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 Iceland

Add prices for Faroe Islands

Ask the Elsewhere Community

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