Cost of living comparison

compared to

Libya vs. Iceland Cost of Living Summary

Libya is 73.2% cheaper than Iceland overall.

Restaurants: pay 82.1% less in Libya
Groceries: pay 65.4% less in Libya
Transportation: pay 69.1% less in Libya
Housing: pay 77.9% less in Libya
Childcare: pay 78.5% less in Libya
Entertainment and Sports: pay 77.3% less in Libya
Clothing: pay 62.4% less in Libya

Expenses including restaurants, childcare, housing, entertainment and sports, transportation, and groceries are lower in Libya.

Libya vs. Iceland Cost Breakdown

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

Display currency: USD

pay 82.1% less for restaurants

	Iceland	Libya
Basic meal with drink at inexpensive restaurant	$19.40 ISK2,346	$4.61 LYD24.820	-76.2%
Fast food combo meal McDonalds, or similar	$16.94 ISK2,049	$4.10 LYD22.060	-75.8%
Bottle of Coca-Cola (11 fl. oz)	$2.81 ISK340	$0.48 LYD2.560	-83.1%
Bottle of water (11 fl. oz)	$2.02 ISK244	$0.13 LYD0.720	-93.4%
Average			-82.1%

Iceland vs. Libya - Cost of restaurants

Improve prices · Change currency (USD)

pay 65.4% less for groceries

	Iceland	Libya
Bread 1 loaf	$2.95 ISK357	$0.29 LYD1.590	-90.0%
Local cheese (8 oz)	$7.27 ISK879	$2.75 LYD14.830	-62.1%
Milk (1 gallon)	$6.01 ISK726	$3.55 LYD19.110	-40.9%
Eggs 1 dozen	$5.42 ISK655	$1.68 LYD9.070	-68.9%
Boneless chicken breast (1 lb)	$8.51 ISK1,029	$1.56 LYD8.400	-81.7%
Apples (1 lb)	$1.22 ISK148	$0.71 LYD3.810	-42.1%
Bananas (1 lb)	$1.03 ISK124	$0.60 LYD3.220	-41.7%
Oranges (1 lb)	$1.17 ISK142	$0.42 LYD2.270	-64.0%
Tomatoes (1 lb)	$1.87 ISK227	$0.24 LYD1.320	-87.0%
Potatoes (1 lb)	$1.23 ISK149	$0.28 LYD1.480	-77.7%
Onions (1 lb)	$0.78 ISK95	$0.29 LYD1.550	-63.4%
Average			-65.4%

Iceland vs. Libya - Cost of groceries

Improve prices · Change currency (USD)

pay 69.1% less for transportation

	Iceland	Libya
Gasoline (1 gallon)	$8.36 ISK1,011	$0.12 LYD0.630	-98.6%
Monthly public transit pass	$71.28 ISK8,620	$23.74 LYD127.820	-66.7%
New Volkswagen Golf 1.4 (standard edition)	$40,660.66 ISK4,917,094	$16,046.81 LYD86,407.090	-60.5%
Taxi trip in downtown area (5 miles)	$22.04 ISK2,665	$10.88 LYD58.590	-50.6%
Average			-69.1%

Iceland vs. Libya - Cost of transportation

Improve prices · Change currency (USD)

pay 77.9% less for housing

	Iceland	Libya
Internet connection 50 mbps or faster, cable/dsl	$72.17 ISK8,728	$29.85 LYD160.760	-58.6%
1-Bedroom apartment in downtown area	$1,838.04 ISK222,274	$191.92 LYD1,033.450	-89.6%
1-Bedroom apartment outside city center	$1,497.77 ISK181,125	$108.81 LYD585.900	-92.7%
Utilities for two (700 sq ft apartment) including electric, gas, water, heating	$58.01 ISK7,016	$17.03 LYD91.710	-70.6%
Average			-77.9%

Iceland vs. Libya - Cost of housing

Improve prices · Change currency (USD)

pay 78.5% less for childcare

	Iceland	Libya
Private preschool for 1 child, monthly	$258.16 ISK31,220	$58.75 LYD316.370	-77.2%
Middle school for 1 child, two semesters	$5,993.99 ISK724,854	$1,219.10 LYD6,564.480	-79.7%
Average			-78.5%

Iceland vs. Libya - Cost of childcare

Improve prices · Change currency (USD)

pay 77.3% less for entertainment and sports

	Iceland	Libya
Domestic/local beer (1 pint)	$9.19 ISK1,111	$0.68 LYD3.680	-92.6%
Cappuccino in mid-range area	$4.65 ISK562	$0.63 LYD3.380	-86.5%
Pack of cigarettes Marlboro or similar	$11.76 ISK1,422	$2.33 LYD12.550	-80.2%
Monthly membership at local gym	$61.46 ISK7,432	$25.64 LYD138.080	-58.3%
Movie ticket to theater/cinema	$14.35 ISK1,735	$4.44 LYD23.900	-69.1%
Average			-77.3%

Iceland vs. Libya - Cost of entertainment and sports

Improve prices · Change currency (USD)

pay 62.4% less for clothing

	Iceland	Libya
Regular jeans Levi's brand	$111.23 ISK13,451	$32.50 LYD174.980	-70.8%
Regular dress from H&M or similar store	$59.69 ISK7,218	$32.80 LYD176.610	-45.1%
Running shoes Nike or Adidas	$148.00 ISK17,898	$45.23 LYD243.570	-69.4%
Men's business shoes (leather)	$184.49 ISK22,311	$65.98 LYD355.290	-64.2%
Average			-62.4%

Iceland vs. Libya - Cost of clothing

Improve prices · Change currency (USD)

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: July 2025

More cost comparisons

Iceland vs.

Egypt

Iceland vs.

Australia

Iceland vs.

Thailand

Iceland vs.

Italy

Iceland vs.

Poland

Iceland vs.

Peru

Iceland vs.

Spain

Iceland vs.

United Kingdom

Share this

Compare by city

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

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 Libya

ASK THE ELSEWHERE COMMUNITY

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