Cost of living comparison
compared to
New Mexico vs. Iceland Cost of Living Summary
New Mexico is 9.4% cheaper than Iceland overall.
- Restaurants
-
pay 34.6% less in New Mexico
- Groceries
-
pay 13.3% less in New Mexico
- Transportation
-
pay 49.8% less in New Mexico
- Housing
-
pay 6.0% less in New Mexico
- Childcare
-
pay 2.1 times more in New Mexico
- Entertainment and Sports
-
pay 28.8% less in New Mexico
- Clothing
-
pay 46.2% less in New Mexico
Expenses including transportation, clothing, restaurants, entertainment and sports, groceries, and housing are lower in New Mexico. Notably, childcare is significantly more expensive in New Mexico.
New Mexico vs. Iceland Cost Breakdown
If you lived in New Mexico instead of Iceland, you would:
pay 34.6% less for restaurants
|
Iceland
|
New Mexico
|
||
|---|---|---|---|
| Basic meal with drink at inexpensive restaurant |
$26.52
ISK3,394
|
$17.70
|
|
|
Fast food combo meal
McDonalds, or similar
|
$21.32
ISK2,728
|
$10.10
|
|
| Bottle of Coca-Cola (11 fl. oz) |
$3.11
ISK398
|
$2.48
|
|
| Bottle of water (11 fl. oz) |
$2.72
ISK348
|
$1.84
|
|
Iceland vs. New Mexico - Cost of restaurants
pay 13.3% less for groceries
|
Iceland
|
New Mexico
|
||
|---|---|---|---|
|
Bread
1 loaf
|
$3.80
ISK487
|
$3.08
|
|
| Local cheese (8 oz) |
$9.44
ISK1,208
|
$6.32
|
|
| Milk (1 gallon) |
$7.78
ISK996
|
$3.81
|
|
|
Eggs
1 dozen
|
$6.71
ISK859
|
$4.20
|
|
| Boneless chicken breast (1 lb) |
$11.22
ISK1,436
|
$5.09
|
|
| Apples (1 lb) |
$1.50
ISK191
|
$2.18
|
|
| Bananas (1 lb) |
$1.15
ISK147
|
$0.69
|
|
| Oranges (1 lb) |
$1.41
ISK181
|
$2.03
|
|
| Tomatoes (1 lb) |
$2.34
ISK300
|
$2.37
|
|
| Potatoes (1 lb) |
$1.65
ISK211
|
$1.46
|
|
| Onions (1 lb) |
$1.09
ISK140
|
$1.20
|
|
Iceland vs. New Mexico - Cost of groceries
pay 49.8% less for transportation
|
Iceland
|
New Mexico
|
||
|---|---|---|---|
| Gasoline (1 gallon) |
$9.65
ISK1,235
|
$2.94
|
|
| Monthly public transit pass |
$79.56
ISK10,182
|
$32.00
|
|
| New Volkswagen Golf 1.4 (standard edition) |
$49,144.25
ISK6,289,481
|
$29,636.00
|
|
| Taxi trip in downtown area (5 miles) |
$25.55
ISK3,270
|
$17.84
|
|
Iceland vs. New Mexico - Cost of transportation
pay 6.0% less for housing
|
Iceland
|
New Mexico
|
||
|---|---|---|---|
|
Internet connection
50 mbps or faster, cable/dsl
|
$95.65
ISK12,241
|
$68.61
|
|
| 1-Bedroom apartment in downtown area |
$2,289.17
ISK292,968
|
$1,407.44
|
|
| 1-Bedroom apartment outside city center |
$1,830.04
ISK234,209
|
$1,172.03
|
|
|
Utilities for two
(700 sq ft apartment)
including electric, gas, water, heating
|
$65.15
ISK8,338
|
$116.42
|
|
Iceland vs. New Mexico - Cost of housing
pay 2.1 times more for childcare
|
Iceland
|
New Mexico
|
||
|---|---|---|---|
| Private preschool for 1 child, monthly |
$334.67
ISK42,830
|
$1,218.00
|
|
| Middle school for 1 child, two semesters |
$30,711.08
ISK3,930,404
|
$19,225.20
|
|
Iceland vs. New Mexico - Cost of childcare
pay 28.8% less for entertainment and sports
|
Iceland
|
New Mexico
|
||
|---|---|---|---|
| Domestic/local beer (1 pint) |
$11.14
ISK1,426
|
$5.40
|
|
| Cappuccino in mid-range area |
$5.62
ISK720
|
$4.78
|
|
|
Pack of cigarettes
Marlboro or similar
|
$13.90
ISK1,778
|
$9.57
|
|
| Monthly membership at local gym |
$78.17
ISK10,004
|
$66.14
|
|
| Movie ticket to theater/cinema |
$16.75
ISK2,144
|
$11.57
|
|
Iceland vs. New Mexico - Cost of entertainment and sports
pay 46.2% less for clothing
|
Iceland
|
New Mexico
|
||
|---|---|---|---|
|
Regular jeans
Levi's brand
|
$130.91
ISK16,753
|
$48.30
|
|
|
Regular dress
from H&M or similar store
|
$61.83
ISK7,913
|
$47.80
|
|
|
Running shoes
Nike or Adidas
|
$163.81
ISK20,965
|
$92.18
|
|
| Men's business shoes (leather) |
$237.31
ISK30,371
|
$106.13
|
|
Iceland vs. New Mexico - 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
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