Cost of living comparison

United Kingdom

compared to

Iceland

Iceland vs. London Cost of Living Summary

Iceland is 10.3% more expensive than London.

Restaurants: pay 33.4% more in Iceland
Groceries: pay 55.2% more in Iceland
Transportation: pay 5.2% less in Iceland
Housing: pay 0.3% more in Iceland
Childcare: pay 39.4% less in Iceland
Entertainment and Sports: pay 0.3% more in Iceland
Clothing: pay 27.3% more in Iceland

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

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Iceland vs. London Cost Breakdown

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

Display currency: USD

pay 33.4% more for restaurants

	London	Iceland
Basic meal with drink at inexpensive restaurant	$26.73 £19.87	$26.52 ISK3,325	-0.8%
Fast food combo meal McDonalds, or similar	$11.02 £8.20	$21.32 ISK2,672	+93.4%
Bottle of Coca-Cola (11 fl. oz)	$3.12 £2.32	$3.11 ISK390	-0.4%
Bottle of water (11 fl. oz)	$1.93 £1.43	$2.72 ISK341	+41.2%
Average			+33.4%

London vs. Iceland - Cost of restaurants

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pay 55.2% more for groceries

	London	Iceland
Bread 1 loaf	$2.16 £1.61	$3.80 ISK477	+76.1%
Local cheese (8 oz)	$5.54 £4.12	$9.44 ISK1,183	+70.4%
Milk (1 gallon)	$6.58 £4.89	$7.78 ISK975	+18.2%
Eggs 1 dozen	$5.02 £3.73	$6.71 ISK841	+33.7%
Boneless chicken breast (1 lb)	$3.95 £2.94	$11.22 ISK1,406	+184.0%
Apples (1 lb)	$1.53 £1.13	$1.50 ISK187	-2.0%
Bananas (1 lb)	$0.83 £0.62	$1.15 ISK144	+37.3%
Oranges (1 lb)	$1.44 £1.07	$1.41 ISK177	-1.6%
Tomatoes (1 lb)	$1.64 £1.22	$2.34 ISK293	+42.6%
Potatoes (1 lb)	$0.76 £0.56	$1.65 ISK207	+117.4%
Onions (1 lb)	$0.83 £0.62	$1.09 ISK137	+31.4%
Average			+55.2%

London vs. Iceland - Cost of groceries

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pay 5.2% less for transportation

	London	Iceland
Gasoline (1 gallon)	$7.12 £5.30	$9.65 ISK1,210	+35.5%
Monthly public transit pass	$240.54 £178.86	$79.56 ISK9,974	-66.9%
New Volkswagen Golf 1.4 (standard edition)	$37,798.76 £28,105.27	$49,144.25 ISK6M	+30.0%
Taxi trip in downtown area (5 miles)	$31.75 £23.61	$25.55 ISK3,204	-19.5%
Average			-5.2%

London vs. Iceland - Cost of transportation

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pay 0.3% more for housing

	London	Iceland
Internet connection 50 mbps or faster, cable/dsl	$42.83 £31.85	$95.65 ISK11,990	+123.3%
1-Bedroom apartment in downtown area	$3,083.09 £2,292.43	$2,289.17 ISK287K	-25.8%
1-Bedroom apartment outside city center	$2,340.14 £1,740.01	$1,830.04 ISK229K	-21.8%
Utilities for two (700 sq ft apartment) including electric, gas, water, heating	$255.85 £190.24	$65.15 ISK8,167	-74.5%
Average			+0.3%

London vs. Iceland - Cost of housing

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pay 39.4% less for childcare

	London	Iceland
Private preschool for 1 child, monthly	$2,480.84 £1,844.63	$334.67 ISK41,954	-86.5%
Middle school for 1 child, two semesters	$28,512.27 £21,200.30	$30,711.08 ISK4M	+7.7%
Average			-39.4%

London vs. Iceland - Cost of childcare

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pay 0.3% more for entertainment and sports

	London	Iceland
Domestic/local beer (1 pint)	$8.69 £6.46	$11.14 ISK1,397	+28.3%
Cappuccino in mid-range area	$5.21 £3.87	$5.62 ISK705	+8.0%
Pack of cigarettes Marlboro or similar	$22.72 £16.89	$13.90 ISK1,742	-38.8%
Monthly membership at local gym	$64.95 £48.30	$78.17 ISK9,800	+20.4%
Movie ticket to theater/cinema	$20.05 £14.90	$16.75 ISK2,100	-16.4%
Average			+0.3%

London vs. Iceland - Cost of entertainment and sports

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pay 27.3% more for clothing

	London	Iceland
Regular jeans Levi's brand	$116.11 £86.33	$130.91 ISK16,410	+12.7%
Regular dress from H&M or similar store	$52.02 £38.68	$61.83 ISK7,751	+18.9%
Running shoes Nike or Adidas	$125.96 £93.66	$163.81 ISK20,536	+30.0%
Men's business shoes (leather)	$160.88 £119.62	$237.31 ISK29,749	+47.5%
Average			+27.3%

London vs. Iceland - 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: July 2026

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