Cost of living comparison
compared to
Iceland vs. Melbourne Cost of Living Summary
Iceland is 33.3% more expensive than Melbourne.
- Restaurants
-
pay 41.6% more in Iceland
- Groceries
-
pay 36.5% more in Iceland
- Transportation
-
pay 56.8% more in Iceland
- Housing
-
pay 34.6% more in Iceland
- Childcare
-
pay 23.9% less in Iceland
- Entertainment and Sports
-
pay 19.7% more in Iceland
- Clothing
-
pay 68.0% more in Iceland
The cost of clothing, transportation, restaurants, groceries, housing, and entertainment and sports in Iceland are more expensive than in Melbourne.
Iceland vs. Melbourne Cost Breakdown
If you lived in Iceland instead of Melbourne, you would:
pay 41.6% more for restaurants
|
Melbourne
|
Iceland
|
||
|---|---|---|---|
| Basic meal with drink at inexpensive restaurant |
$19.63
A$29.50
|
$26.52
ISK3,352
|
|
|
Fast food combo meal
McDonalds, or similar
|
$10.47
A$15.73
|
$21.32
ISK2,694
|
|
| Bottle of Coca-Cola (11 fl. oz) |
$2.69
A$4.05
|
$3.11
ISK393
|
|
| Bottle of water (11 fl. oz) |
$2.43
A$3.65
|
$2.72
ISK344
|
|
Melbourne vs. Iceland - Cost of restaurants
pay 36.5% more for groceries
|
Melbourne
|
Iceland
|
||
|---|---|---|---|
|
Bread
1 loaf
|
$2.73
A$4.11
|
$3.80
ISK481
|
|
| Local cheese (8 oz) |
$4.60
A$6.91
|
$9.44
ISK1,193
|
|
| Milk (1 gallon) |
$6.19
A$9.31
|
$7.78
ISK983
|
|
|
Eggs
1 dozen
|
$5.43
A$8.16
|
$6.71
ISK848
|
|
| Boneless chicken breast (1 lb) |
$4.11
A$6.18
|
$11.22
ISK1,418
|
|
| Apples (1 lb) |
$1.52
A$2.28
|
$1.50
ISK189
|
|
| Bananas (1 lb) |
$1.36
A$2.04
|
$1.15
ISK145
|
|
| Oranges (1 lb) |
$1.40
A$2.10
|
$1.41
ISK179
|
|
| Tomatoes (1 lb) |
$1.87
A$2.82
|
$2.34
ISK296
|
|
| Potatoes (1 lb) |
$1.29
A$1.94
|
$1.65
ISK208
|
|
| Onions (1 lb) |
$1.11
A$1.67
|
$1.09
ISK138
|
|
Melbourne vs. Iceland - Cost of groceries
pay 56.8% more for transportation
|
Melbourne
|
Iceland
|
||
|---|---|---|---|
| Gasoline (1 gallon) |
$4.42
A$6.65
|
$9.65
ISK1,220
|
|
| Monthly public transit pass |
$122.33
A$183.90
|
$79.56
ISK10,056
|
|
| New Volkswagen Golf 1.4 (standard edition) |
$29,060.36
A$43,686.64
|
$49,144.25
ISK6,211,833
|
|
| Taxi trip in downtown area (5 miles) |
$14.62
A$21.98
|
$25.55
ISK3,230
|
|
Melbourne vs. Iceland - Cost of transportation
pay 34.6% more for housing
|
Melbourne
|
Iceland
|
||
|---|---|---|---|
|
Internet connection
50 mbps or faster, cable/dsl
|
$51.49
A$77.40
|
$95.65
ISK12,090
|
|
| 1-Bedroom apartment in downtown area |
$1,557.21
A$2,340.97
|
$2,289.17
ISK289,351
|
|
| 1-Bedroom apartment outside city center |
$1,186.33
A$1,783.41
|
$1,830.04
ISK231,318
|
|
|
Utilities for two
(700 sq ft apartment)
including electric, gas, water, heating
|
$127.27
A$191.33
|
$65.15
ISK8,235
|
|
Melbourne vs. Iceland - Cost of housing
pay 23.9% less for childcare
|
Melbourne
|
Iceland
|
||
|---|---|---|---|
| Private preschool for 1 child, monthly |
$1,960.54
A$2,947.29
|
$334.67
ISK42,302
|
|
| Middle school for 1 child, two semesters |
$22,736.38
A$34,179.76
|
$30,711.08
ISK3,881,881
|
|
Melbourne vs. Iceland - Cost of childcare
pay 19.7% more for entertainment and sports
|
Melbourne
|
Iceland
|
||
|---|---|---|---|
| Domestic/local beer (1 pint) |
$7.85
A$11.80
|
$11.14
ISK1,408
|
|
| Cappuccino in mid-range area |
$3.69
A$5.55
|
$5.62
ISK711
|
|
|
Pack of cigarettes
Marlboro or similar
|
$32.71
A$49.17
|
$13.90
ISK1,756
|
|
| Monthly membership at local gym |
$49.01
A$73.67
|
$78.17
ISK9,881
|
|
| Movie ticket to theater/cinema |
$16.35
A$24.59
|
$16.75
ISK2,118
|
|
Melbourne vs. Iceland - Cost of entertainment and sports
pay 68.0% more for clothing
|
Melbourne
|
Iceland
|
||
|---|---|---|---|
|
Regular jeans
Levi's brand
|
$70.24
A$105.59
|
$130.91
ISK16,546
|
|
|
Regular dress
from H&M or similar store
|
$53.21
A$80.00
|
$61.83
ISK7,815
|
|
|
Running shoes
Nike or Adidas
|
$107.56
A$161.70
|
$163.81
ISK20,706
|
|
| Men's business shoes (leather) |
$109.31
A$164.33
|
$237.31
ISK29,996
|
|
Melbourne vs. Iceland - 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: December 2025
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