Cost of living comparison
Reykjavik is 38.8% more expensive than Madrid.
- Restaurants
-
pay 31.7% more in Reykjavik
- Groceries
-
pay 63.3% more in Reykjavik
- Transportation
-
pay 45.0% more in Reykjavik
- Housing
-
pay 40.7% more in Reykjavik
- Childcare
-
pay 48.0% less in Reykjavik
- Entertainment and Sports
-
pay 96.8% more in Reykjavik
- Clothing
-
pay 42.2% more in Reykjavik
The cost of entertainment and sports, groceries, transportation, clothing, housing, and restaurants in Reykjavik are more expensive than in Madrid. Notably, entertainment and sports is significantly more expensive in Reykjavik.
If you lived in Reykjavik instead of Madrid, you would:
pay 31.7% more for restaurants
Madrid
|
Reykjavik
|
||
---|---|---|---|
Basic meal with drink at inexpensive restaurant |
$16.08
€15.57
|
$20.00
ISK2,840
|
|
Fast food combo meal
McDonalds, or similar
|
$10.72
€10.38
|
$18.02
ISK2,558
|
|
Bottle of Coca-Cola (11 fl. oz) |
$2.79
€2.70
|
$3.15
ISK448
|
|
Bottle of water (11 fl. oz) |
$1.80
€1.75
|
$2.19
ISK310
|
|
pay 63.3% more for groceries
Madrid
|
Reykjavik
|
||
---|---|---|---|
Bread
1 loaf
|
$1.50
€1.45
|
$3.61
ISK513
|
|
Local cheese (8 oz) |
$6.92
€6.70
|
$7.76
ISK1,101
|
|
Milk (1 gallon) |
$4.41
€4.27
|
$6.40
ISK909
|
|
Eggs
1 dozen
|
$3.05
€2.96
|
$5.76
ISK817
|
|
Boneless chicken breast (1 lb) |
$3.78
€3.66
|
$9.45
ISK1,341
|
|
Apples (1 lb) |
$1.13
€1.09
|
$1.40
ISK199
|
|
Bananas (1 lb) |
$0.87
€0.84
|
$1.01
ISK143
|
|
Oranges (1 lb) |
$1.01
€0.97
|
$1.22
ISK173
|
|
Tomatoes (1 lb) |
$1.05
€1.01
|
$2.22
ISK316
|
|
Potatoes (1 lb) |
$0.83
€0.81
|
$1.43
ISK204
|
|
Onions (1 lb) |
$0.82
€0.79
|
$0.93
ISK133
|
|
pay 45.0% more for transportation
Madrid
|
Reykjavik
|
||
---|---|---|---|
Gasoline (1 gallon) |
$6.79
€6.57
|
$8.50
ISK1,207
|
|
Monthly public transit pass |
$42.87
€41.51
|
$74.95
ISK10,642
|
|
New Volkswagen Golf 1.4 (standard edition) |
$35,759.38
€34,623.73
|
$42,450.45
ISK6,027,115
|
|
Taxi trip in downtown area (5 miles) |
$14.90
€14.42
|
$24.05
ISK3,415
|
|
pay 40.7% more for housing
Madrid
|
Reykjavik
|
||
---|---|---|---|
Internet connection
50 mbps or faster, cable/dsl
|
$31.85
€30.84
|
$69.87
ISK9,919
|
|
1-Bedroom apartment in downtown area |
$1,468.90
€1,422.25
|
$1,971.17
ISK279,867
|
|
1-Bedroom apartment outside city center |
$1,074.71
€1,040.58
|
$1,803.44
ISK256,052
|
|
Utilities for two
(700 sq ft apartment)
including electric, gas, water, heating
|
$130.03
€125.90
|
$53.95
ISK7,660
|
|
pay 48.0% less for childcare
Madrid
|
Reykjavik
|
||
---|---|---|---|
Private preschool for 1 child, monthly |
$567.57
€549.54
|
$252.14
ISK35,799
|
|
Middle school for 1 child, two semesters |
$10,069.47
€9,749.68
|
$5,993.99
ISK851,027
|
|
pay 96.8% more for entertainment and sports
Madrid
|
Reykjavik
|
||
---|---|---|---|
Domestic/local beer (1 pint) |
$3.75
€3.63
|
$10.81
ISK1,535
|
|
Cappuccino in mid-range area |
$2.59
€2.50
|
$5.31
ISK753
|
|
Pack of cigarettes
Marlboro or similar
|
$6.43
€6.23
|
$12.25
ISK1,739
|
|
Monthly membership at local gym |
$43.11
€41.75
|
$69.95
ISK9,931
|
|
Movie ticket to theater/cinema |
$10.72
€10.38
|
$14.77
ISK2,098
|
|
pay 42.2% more for clothing
Madrid
|
Reykjavik
|
||
---|---|---|---|
Regular jeans
Levi's brand
|
$90.50
€87.63
|
$108.97
ISK15,472
|
|
Regular dress
from H&M or similar store
|
$37.21
€36.03
|
$49.72
ISK7,059
|
|
Running shoes
Nike or Adidas
|
$97.88
€94.77
|
$151.85
ISK21,560
|
|
Men's business shoes (leather) |
$121.40
€117.54
|
$194.16
ISK27,567
|
|
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