Cost of living comparison

Iceland

compared to

Monaco

Monaco vs. Iceland Cost of Living Summary

Monaco is 59.7% more expensive than Iceland overall.

Restaurants: pay 2.7% less in Monaco
Groceries: pay 14.3% more in Monaco
Transportation: pay 18.6% less in Monaco
Housing: pay 3.1 times more in Monaco
Childcare: pay 95.7% more in Monaco
Entertainment and Sports: pay 26.5% more in Monaco
Clothing: pay 44.1% more in Monaco

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

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Monaco vs. Iceland Cost Breakdown

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

Display currency: USD

pay 2.7% less for restaurants

	Iceland	Monaco
Basic meal with drink at inexpensive restaurant	$28.88 ISK3,499	$30.79 €27.41	+6.6%
Fast food combo meal McDonalds, or similar	$22.83 ISK2,767	$11.76 €10.46	-48.5%
Bottle of Coca-Cola (11 fl. oz)	$3.25 ISK393	$7.52 €6.69	+131.7%
Bottle of water (11 fl. oz)	$3.01 ISK365	$7.52 €6.69	+149.9%
Average			-2.7%

Iceland vs. Monaco - Cost of restaurants

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pay 14.3% more for groceries

	Iceland	Monaco
Bread 1 loaf	$3.55 ISK431	$4.17 €3.71	+17.4%
Local cheese (8 oz)	$10.11 ISK1,226	$8.73 €7.77	-13.6%
Milk (1 gallon)	$7.79 ISK944	$7.59 €6.76	-2.5%
Eggs 1 dozen	$6.92 ISK839	$4.79 €4.26	-30.9%
Boneless chicken breast (1 lb)	$11.01 ISK1,334	$7.62 €6.78	-30.8%
Apples (1 lb)	$1.43 ISK173	$2.12 €1.89	+49.0%
Bananas (1 lb)	$1.23 ISK148	$2.28 €2.03	+86.4%
Oranges (1 lb)	$1.42 ISK172	$1.70 €1.51	+19.9%
Tomatoes (1 lb)	$2.60 ISK315	$2.69 €2.40	+3.4%
Potatoes (1 lb)	$1.71 ISK207	$1.82 €1.62	+6.5%
Onions (1 lb)	$0.76 ISK92	$1.90 €1.69	+151.7%
Average			+14.3%

Iceland vs. Monaco - Cost of groceries

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pay 18.6% less for transportation

	Iceland	Monaco
Gasoline (1 gallon)	$8.09 ISK980	$8.91 €7.93	+10.2%
Monthly public transit pass	$80.58 ISK9,765	$30.51 €27.16	-62.1%
New Volkswagen Golf 1.4 (standard edition)	$48,967.53 ISK6M	$51,360.87 €45,713.02	+4.9%
Taxi trip in downtown area (5 miles)	$26.24 ISK3,179	$23.51 €20.93	-10.4%
Average			-18.6%

Iceland vs. Monaco - Cost of transportation

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pay 3.1 times more for housing

	Iceland	Monaco
Internet connection 50 mbps or faster, cable/dsl	$98.24 ISK11,905	$80.06 €71.26	-18.5%
1-Bedroom apartment in downtown area	$2,335.24 ISK283K	$5,971.92 €5,315.23	+155.7%
1-Bedroom apartment outside city center	$1,824.40 ISK221K	$6,792.97 €6,045.99	+272.3%
Utilities for two (700 sq ft apartment) including electric, gas, water, heating	$72.34 ISK8,766	$367.05 €326.69	+407.4%
Average			+211.1%

Iceland vs. Monaco - Cost of housing

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pay 95.7% more for childcare

	Iceland	Monaco
Private preschool for 1 child, monthly	$833.66 ISK101K	$2,883.32 €2,566.26	+245.9%
Middle school for 1 child, two semesters	$27,752.37 ISK3M	$30,722.74 €27,344.35	+10.7%
Average			+95.7%

Iceland vs. Monaco - Cost of childcare

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pay 26.5% more for entertainment and sports

	Iceland	Monaco
Domestic/local beer (1 pint)	$11.37 ISK1,378	$10.08 €8.97	-11.4%
Cappuccino in mid-range area	$5.90 ISK715	$3.95 €3.51	-33.1%
Pack of cigarettes Marlboro or similar	$13.85 ISK1,679	$13.16 €11.71	-5.0%
Monthly membership at local gym	$83.64 ISK10,136	$379.31 €337.60	+353.5%
Movie ticket to theater/cinema	$17.92 ISK2,171	$15.68 €13.95	-12.5%
Average			+26.5%

Iceland vs. Monaco - Cost of entertainment and sports

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pay 44.1% more for clothing

	Iceland	Monaco
Regular jeans Levi's brand	$134.47 ISK16,295	$187.18 €166.60	+39.2%
Regular dress from H&M or similar store	$63.25 ISK7,664	$80.90 €72.00	+27.9%
Running shoes Nike or Adidas	$159.03 ISK19,271	$181.58 €161.62	+14.2%
Men's business shoes (leather)	$237.19 ISK28,742	$503.60 €448.22	+112.3%
Average			+44.1%

Iceland vs. Monaco - Cost of clothing

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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. Monaco

Salary Calculator · Free tool

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Quality of Life Comparison · 10 statistics

Make 2.9 times more money in Monaco

Size Comparison · See true size

Iceland is about 51,500 times bigger than Monaco.

Moving from Iceland to Monaco · Cost, visas & climate

Compare cost of living, salary and climate.

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