Cost of living comparison
compared to
Keflavik vs. Madrid Cost of Living Summary
Keflavik is 47.8% more expensive than Madrid.
Keflavik vs. Madrid Cost Breakdown
If you lived in Keflavik instead of Madrid, you would:
pay 34.9% more for restaurants
|
Madrid
|
Keflavik
|
||
|---|---|---|---|
| Basic meal with drink at inexpensive restaurant |
$18.10
€15.74
|
$24.61
ISK3,063
|
|
|
Fast food combo meal
McDonalds, or similar
|
$11.68
€10.16
|
$20.51
ISK2,552
|
|
| Bottle of Coca-Cola (11 fl. oz) |
$3.13
€2.72
|
$3.28
ISK408
|
|
| Bottle of water (11 fl. oz) |
$2.19
€1.90
|
$2.70
ISK336
|
|
Madrid vs. Keflavik - Cost of restaurants
pay 56.6% more for groceries
|
Madrid
|
Keflavik
|
||
|---|---|---|---|
|
Bread
1 loaf
|
$1.71
€1.49
|
$4.63
ISK577
|
|
| Local cheese (8 oz) |
$7.25
€6.30
|
$9.44
ISK1,175
|
|
| Milk (1 gallon) |
$4.61
€4.01
|
$7.63
ISK950
|
|
|
Eggs
1 dozen
|
$3.36
€2.92
|
$6.39
ISK795
|
|
| Boneless chicken breast (1 lb) |
$4.05
€3.53
|
$10.98
ISK1,366
|
|
| Apples (1 lb) |
$1.18
€1.03
|
$1.12
ISK139
|
|
| Bananas (1 lb) |
$1.02
€0.89
|
$1.12
ISK139
|
|
| Oranges (1 lb) |
$1.19
€1.04
|
$1.12
ISK139
|
|
| Tomatoes (1 lb) |
$1.26
€1.10
|
$1.86
ISK232
|
|
| Potatoes (1 lb) |
$0.94
€0.82
|
$1.45
ISK181
|
|
| Onions (1 lb) |
$1.01
€0.88
|
$0.96
ISK119
|
|
Madrid vs. Keflavik - Cost of groceries
pay 51.4% more for transportation
|
Madrid
|
Keflavik
|
||
|---|---|---|---|
| Gasoline (1 gallon) |
$7.08
€6.15
|
$9.66
ISK1,202
|
|
| Monthly public transit pass |
$45.84
€39.86
|
$76.28
ISK9,495
|
|
| New Volkswagen Golf 1.4 (standard edition) |
$38,541.72
€33,513.26
|
$50,771.00
ISK6M
|
|
| Taxi trip in downtown area (5 miles) |
$16.23
€14.12
|
$27.74
ISK3,453
|
|
Madrid vs. Keflavik - Cost of transportation
pay 30.1% more for housing
|
Madrid
|
Keflavik
|
||
|---|---|---|---|
|
Internet connection
50 mbps or faster, cable/dsl
|
$34.54
€30.03
|
$81.97
ISK10,203
|
|
| 1-Bedroom apartment in downtown area |
$1,540.98
€1,339.93
|
$1,886.48
ISK235K
|
|
| 1-Bedroom apartment outside city center |
$1,118.82
€972.85
|
$1,353.35
ISK168K
|
|
|
Utilities for two
(700 sq ft apartment)
including electric, gas, water, heating
|
$153.78
€133.72
|
$60.87
ISK7,578
|
|
Madrid vs. Keflavik - Cost of housing
pay 41.4% more for childcare
|
Madrid
|
Keflavik
|
||
|---|---|---|---|
| Private preschool for 1 child, monthly |
$673.20
€585.36
|
$327.78
ISK40,802
|
|
| Middle school for 1 child, two semesters |
$13,119.76
€11,408.05
|
$30,711.08
ISK4M
|
|
Madrid vs. Keflavik - Cost of childcare
pay 63.3% more for entertainment and sports
|
Madrid
|
Keflavik
|
||
|---|---|---|---|
| Domestic/local beer (1 pint) |
$4.50
€3.91
|
$8.20
ISK1,021
|
|
| Cappuccino in mid-range area |
$3.20
€2.79
|
$4.10
ISK510
|
|
|
Pack of cigarettes
Marlboro or similar
|
$7.01
€6.09
|
$13.94
ISK1,735
|
|
| Monthly membership at local gym |
$51.05
€44.39
|
$81.64
ISK10,163
|
|
| Movie ticket to theater/cinema |
$11.68
€10.16
|
$17.18
ISK2,139
|
|
Madrid vs. Keflavik - Cost of entertainment and sports
pay 56.8% more for clothing
|
Madrid
|
Keflavik
|
||
|---|---|---|---|
|
Regular jeans
Levi's brand
|
$98.88
€85.98
|
$145.10
ISK18,062
|
|
|
Regular dress
from H&M or similar store
|
$41.27
€35.88
|
$63.97
ISK7,963
|
|
|
Running shoes
Nike or Adidas
|
$107.49
€93.46
|
$185.91
ISK23,143
|
|
| Men's business shoes (leather) |
$125.44
€109.07
|
$191.38
ISK23,823
|
|
Madrid vs. Keflavik - 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: April 2026
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