Cost of living comparison
compared to
Monaco vs. Iceland Cost of Living Summary
Monaco is 2.3 times more expensive than Iceland overall.
- Restaurants
-
pay 86.5% more in Monaco
- Groceries
-
pay 32.8% more in Monaco
- Transportation
-
pay 15.8% less in Monaco
- Housing
-
pay 3.1 times more in Monaco
- Childcare
-
pay 5.0 times more in Monaco
- Entertainment and Sports
-
pay 2.2 times more in Monaco
- Clothing
-
pay 60.9% more in Monaco
The cost of childcare, housing, entertainment and sports, restaurants, clothing, and groceries in Monaco are more expensive than in Iceland. Notably, childcare, housing, and entertainment and sports are significantly more expensive in Monaco.
Monaco vs. Iceland Cost Breakdown
If you lived in Monaco instead of Iceland, you would:
pay 86.5% more for restaurants
|
Iceland
|
Monaco
|
||
|---|---|---|---|
| Basic meal with drink at inexpensive restaurant |
$26.52
ISK3,394
|
$39.76
€34.28
|
|
|
Fast food combo meal
McDonalds, or similar
|
$21.32
ISK2,728
|
$11.60
€10.00
|
|
| Bottle of Coca-Cola (11 fl. oz) |
$3.11
ISK398
|
$6.54
€5.64
|
|
| Bottle of water (11 fl. oz) |
$2.72
ISK348
|
$9.00
€7.76
|
|
Iceland vs. Monaco - Cost of restaurants
pay 32.8% more for groceries
|
Iceland
|
Monaco
|
||
|---|---|---|---|
|
Bread
1 loaf
|
$3.80
ISK487
|
$4.78
€4.12
|
|
| Local cheese (8 oz) |
$9.44
ISK1,208
|
$11.68
€10.07
|
|
| Milk (1 gallon) |
$7.78
ISK996
|
$7.92
€6.83
|
|
|
Eggs
1 dozen
|
$6.71
ISK859
|
$5.24
€4.52
|
|
| Boneless chicken breast (1 lb) |
$11.22
ISK1,436
|
$7.89
€6.80
|
|
| Apples (1 lb) |
$1.50
ISK191
|
$2.06
€1.78
|
|
| Bananas (1 lb) |
$1.15
ISK147
|
$2.52
€2.17
|
|
| Oranges (1 lb) |
$1.41
ISK181
|
$2.27
€1.95
|
|
| Tomatoes (1 lb) |
$2.34
ISK300
|
$3.07
€2.65
|
|
| Potatoes (1 lb) |
$1.65
ISK211
|
$2.15
€1.85
|
|
| Onions (1 lb) |
$1.09
ISK140
|
$1.99
€1.71
|
|
Iceland vs. Monaco - Cost of groceries
pay 15.8% less for transportation
|
Iceland
|
Monaco
|
||
|---|---|---|---|
| Gasoline (1 gallon) |
$9.65
ISK1,235
|
$9.23
€7.96
|
|
| Monthly public transit pass |
$79.56
ISK10,182
|
$32.41
€27.95
|
|
| New Volkswagen Golf 1.4 (standard edition) |
$49,144.25
ISK6,289,481
|
$53,574.22
€46,198.50
|
|
| Taxi trip in downtown area (5 miles) |
$25.55
ISK3,270
|
$23.36
€20.14
|
|
Iceland vs. Monaco - Cost of transportation
pay 3.1 times more for housing
|
Iceland
|
Monaco
|
||
|---|---|---|---|
|
Internet connection
50 mbps or faster, cable/dsl
|
$95.65
ISK12,241
|
$83.51
€72.01
|
|
| 1-Bedroom apartment in downtown area |
$2,289.17
ISK292,968
|
$8,162.46
€7,038.71
|
|
| 1-Bedroom apartment outside city center |
$1,830.04
ISK234,209
|
$5,372.75
€4,633.07
|
|
|
Utilities for two
(700 sq ft apartment)
including electric, gas, water, heating
|
$65.15
ISK8,338
|
$318.65
€274.78
|
|
Iceland vs. Monaco - Cost of housing
pay 5.0 times more for childcare
|
Iceland
|
Monaco
|
||
|---|---|---|---|
| Private preschool for 1 child, monthly |
$334.67
ISK42,830
|
$3,007.57
€2,593.51
|
|
| Middle school for 1 child, two semesters |
$30,711.08
ISK3,930,404
|
$32,046.71
€27,634.75
|
|
Iceland vs. Monaco - Cost of childcare
pay 2.2 times more for entertainment and sports
|
Iceland
|
Monaco
|
||
|---|---|---|---|
| Domestic/local beer (1 pint) |
$11.14
ISK1,426
|
$10.22
€8.81
|
|
| Cappuccino in mid-range area |
$5.62
ISK720
|
$5.37
€4.63
|
|
|
Pack of cigarettes
Marlboro or similar
|
$13.90
ISK1,778
|
$13.72
€11.83
|
|
| Monthly membership at local gym |
$78.17
ISK10,004
|
$558.45
€481.56
|
|
| Movie ticket to theater/cinema |
$16.75
ISK2,144
|
$16.35
€14.10
|
|
Iceland vs. Monaco - Cost of entertainment and sports
pay 60.9% more for clothing
|
Iceland
|
Monaco
|
||
|---|---|---|---|
|
Regular jeans
Levi's brand
|
$130.91
ISK16,753
|
$211.84
€182.68
|
|
|
Regular dress
from H&M or similar store
|
$61.83
ISK7,913
|
$87.40
€75.37
|
|
|
Running shoes
Nike or Adidas
|
$163.81
ISK20,965
|
$221.48
€190.99
|
|
| Men's business shoes (leather) |
$237.31
ISK30,371
|
$487.05
€420.00
|
|
Iceland vs. Monaco - Cost of clothing
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: December 2025
Change currency:
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
ASK THE ELSEWHERE COMMUNITY
Join the Elsewhere community and ask a question about Monaco or Iceland. It's a free, question-and-answer based forum to discuss what life is like in countries and cities around the world.