Cost of living comparison

compared to

Oslo vs. Iceland Cost of Living Summary

Oslo is 4.8% cheaper than Iceland overall.

Restaurants: pay 4.5% more in Oslo
Groceries: pay 7.1% less in Oslo
Transportation: pay 14.1% less in Oslo
Housing: pay 42.3% more in Oslo
Childcare: pay 36.4% less in Oslo
Entertainment and Sports: pay 0.3% less in Oslo
Clothing: pay 22.2% less in Oslo

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

Oslo vs. Iceland Cost Breakdown

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

Display currency: USD

pay 4.5% more for restaurants

	Iceland	Oslo
Basic meal with drink at inexpensive restaurant	$26.52 ISK3,394	$24.94 NOK252.10	-5.9%
Fast food combo meal McDonalds, or similar	$21.32 ISK2,728	$14.97 NOK151.26	-29.8%
Bottle of Coca-Cola (11 fl. oz)	$3.11 ISK398	$4.05 NOK40.97	+30.3%
Bottle of water (11 fl. oz)	$2.72 ISK348	$3.35 NOK33.90	+23.3%
Average			+4.5%

Iceland vs. Oslo - Cost of restaurants

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pay 7.1% less for groceries

	Iceland	Oslo
Bread 1 loaf	$3.80 ISK487	$4.01 NOK40.48	+5.3%
Local cheese (8 oz)	$9.44 ISK1,208	$6.90 NOK69.72	-26.9%
Milk (1 gallon)	$7.78 ISK996	$8.43 NOK85.23	+8.4%
Eggs 1 dozen	$6.71 ISK859	$5.06 NOK51.12	-24.6%
Boneless chicken breast (1 lb)	$11.22 ISK1,436	$7.42 NOK74.96	-33.9%
Apples (1 lb)	$1.50 ISK191	$1.59 NOK16.09	+6.4%
Bananas (1 lb)	$1.15 ISK147	$1.14 NOK11.51	-0.7%
Oranges (1 lb)	$1.41 ISK181	$1.51 NOK15.30	+7.0%
Tomatoes (1 lb)	$2.34 ISK300	$2.31 NOK23.33	-1.4%
Potatoes (1 lb)	$1.65 ISK211	$1.13 NOK11.37	-31.7%
Onions (1 lb)	$1.09 ISK140	$1.24 NOK12.57	+13.8%
Average			-7.1%

Iceland vs. Oslo - Cost of groceries

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pay 14.1% less for transportation

	Iceland	Oslo
Gasoline (1 gallon)	$9.65 ISK1,235	$8.28 NOK83.71	-14.2%
Monthly public transit pass	$79.56 ISK10,182	$77.62 NOK784.53	-2.4%
New Volkswagen Golf 1.4 (standard edition)	$49,144.25 ISK6,289,481	$34,920.78 NOK352,937.36	-28.9%
Taxi trip in downtown area (5 miles)	$25.55 ISK3,270	$22.75 NOK229.91	-11.0%
Average			-14.1%

Iceland vs. Oslo - Cost of transportation

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pay 42.3% more for housing

	Iceland	Oslo
Internet connection 50 mbps or faster, cable/dsl	$95.65 ISK12,241	$53.79 NOK543.61	-43.8%
1-Bedroom apartment in downtown area	$2,289.17 ISK292,968	$1,763.00 NOK17,818.29	-23.0%
1-Bedroom apartment outside city center	$1,830.04 ISK234,209	$1,414.97 NOK14,300.84	-22.7%
Utilities for two (700 sq ft apartment) including electric, gas, water, heating	$65.15 ISK8,338	$233.70 NOK2,361.99	+258.7%
Average			+42.3%

Iceland vs. Oslo - Cost of housing

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pay 36.4% less for childcare

	Iceland	Oslo
Private preschool for 1 child, monthly	$334.67 ISK42,830	$249.67 NOK2,523.38	-25.4%
Middle school for 1 child, two semesters	$30,711.08 ISK3,930,404	$16,158.34 NOK163,309.16	-47.4%
Average			-36.4%

Iceland vs. Oslo - Cost of childcare

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pay 0.3% less for entertainment and sports

	Iceland	Oslo
Domestic/local beer (1 pint)	$11.14 ISK1,426	$11.97 NOK121.01	+7.5%
Cappuccino in mid-range area	$5.62 ISK720	$5.06 NOK51.14	-10.0%
Pack of cigarettes Marlboro or similar	$13.90 ISK1,778	$16.96 NOK171.43	+22.1%
Monthly membership at local gym	$78.17 ISK10,004	$56.24 NOK568.45	-28.1%
Movie ticket to theater/cinema	$16.75 ISK2,144	$17.96 NOK181.51	+7.2%
Average			-0.3%

Iceland vs. Oslo - Cost of entertainment and sports

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pay 22.2% less for clothing

	Iceland	Oslo
Regular jeans Levi's brand	$130.91 ISK16,753	$102.33 NOK1,034.21	-21.8%
Regular dress from H&M or similar store	$61.83 ISK7,913	$58.31 NOK589.28	-5.7%
Running shoes Nike or Adidas	$163.81 ISK20,965	$121.03 NOK1,223.22	-26.1%
Men's business shoes (leather)	$237.31 ISK30,371	$153.48 NOK1,551.14	-35.3%
Average			-22.2%

Iceland vs. Oslo - Cost of clothing

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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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