Cost of living comparison
Reykjavik is 36.1% more expensive than Madrid.
If you lived in Reykjavik instead of Madrid, you would:
pay 32.9% more for restaurants
Madrid
|
Reykjavik
|
||
---|---|---|---|
Basic meal with drink at inexpensive restaurant |
$15.16
€13.95
|
$21.59
ISK2,966
|
|
Fast food combo meal
McDonalds, or similar
|
$10.32
€9.49
|
$17.27
ISK2,373
|
|
Bottle of Coca-Cola (11 fl. oz) |
$2.71
€2.49
|
$2.90
ISK399
|
|
Bottle of water (11 fl. oz) |
$1.81
€1.66
|
$2.07
ISK285
|
|
pay 61.4% more for groceries
Madrid
|
Reykjavik
|
||
---|---|---|---|
Bread
1 loaf
|
$1.74
€1.60
|
$3.68
ISK506
|
|
Local cheese (8 oz) |
$7.67
€7.05
|
$7.66
ISK1,052
|
|
Milk (1 gallon) |
$4.36
€4.01
|
$6.16
ISK847
|
|
Eggs
1 dozen
|
$3.02
€2.77
|
$5.91
ISK812
|
|
Boneless chicken breast (1 lb) |
$3.87
€3.56
|
$8.87
ISK1,219
|
|
Apples (1 lb) |
$1.14
€1.05
|
$1.53
ISK210
|
|
Bananas (1 lb) |
$0.89
€0.82
|
$0.97
ISK133
|
|
Oranges (1 lb) |
$0.97
€0.89
|
$1.26
ISK173
|
|
Tomatoes (1 lb) |
$1.13
€1.04
|
$2.23
ISK306
|
|
Potatoes (1 lb) |
$0.72
€0.67
|
$1.42
ISK194
|
|
Onions (1 lb) |
$0.77
€0.71
|
$1.01
ISK139
|
|
pay 31.1% more for transportation
Madrid
|
Reykjavik
|
||
---|---|---|---|
Gasoline (1 gallon) |
$6.78
€6.24
|
$8.57
ISK1,178
|
|
Monthly public transit pass |
$54.15
€49.80
|
$66.92
ISK9,194
|
|
New Volkswagen Golf 1.4 (standard edition) |
$36,133.87
€33,234.12
|
$41,660.67
ISK5,723,760
|
|
Taxi trip in downtown area (5 miles) |
$14.65
€13.47
|
$23.30
ISK3,201
|
|
pay 40.0% more for housing
Madrid
|
Reykjavik
|
||
---|---|---|---|
Internet connection
50 mbps or faster, cable/dsl
|
$33.64
€30.94
|
$68.45
ISK9,404
|
|
1-Bedroom apartment in downtown area |
$1,370.72
€1,260.72
|
$1,864.13
ISK256,113
|
|
1-Bedroom apartment outside city center |
$989.21
€909.82
|
$1,666.20
ISK228,919
|
|
Utilities for two
(700 sq ft apartment)
including electric, gas, water, heating
|
$123.32
€113.42
|
$64.43
ISK8,853
|
|
pay 47.9% less for childcare
Madrid
|
Reykjavik
|
||
---|---|---|---|
Private preschool for 1 child, monthly |
$543.23
€499.63
|
$240.37
ISK33,024
|
|
Middle school for 1 child, two semesters |
$9,978.95
€9,178.14
|
$5,984.07
ISK822,152
|
|
pay 88.1% more for entertainment and sports
Madrid
|
Reykjavik
|
||
---|---|---|---|
Domestic/local beer (1 pint) |
$3.79
€3.49
|
$10.79
ISK1,483
|
|
Cappuccino in mid-range area |
$2.63
€2.41
|
$5.09
ISK699
|
|
Pack of cigarettes
Marlboro or similar
|
$6.12
€5.63
|
$11.87
ISK1,631
|
|
Monthly membership at local gym |
$48.46
€44.57
|
$65.50
ISK8,999
|
|
Movie ticket to theater/cinema |
$10.83
€9.96
|
$14.39
ISK1,977
|
|
pay 47.3% more for clothing
Madrid
|
Reykjavik
|
||
---|---|---|---|
Regular jeans
Levi's brand
|
$83.95
€77.21
|
$103.94
ISK14,280
|
|
Regular dress
from H&M or similar store
|
$33.93
€31.21
|
$43.50
ISK5,976
|
|
Running shoes
Nike or Adidas
|
$87.19
€80.20
|
$141.47
ISK19,437
|
|
Men's business shoes (leather) |
$99.93
€91.91
|
$174.65
ISK23,995
|
|
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