Cost of living comparison
compared to
Reykjavik vs. New York City Cost of Living Summary
Reykjavik is 14.4% cheaper than New York City.
Reykjavik vs. New York City Cost Breakdown
If you lived in Reykjavik instead of New York City, you would:
pay 31.7% more for restaurants
|
New York City
|
Reykjavik
|
||
|---|---|---|---|
| Basic meal with drink at inexpensive restaurant |
$26.50
|
$31.06
ISK3,763
|
|
|
Fast food combo meal
McDonalds, or similar
|
$14.50
|
$26.97
ISK3,268
|
|
| Bottle of Coca-Cola (11 fl. oz) |
$3.95
|
$3.31
ISK402
|
|
| Bottle of water (11 fl. oz) |
$2.97
|
$3.11
ISK376
|
|
New York City vs. Reykjavik - Cost of restaurants
pay 10.9% less for groceries
|
New York City
|
Reykjavik
|
||
|---|---|---|---|
|
Bread
1 loaf
|
$4.78
|
$4.19
ISK508
|
|
| Local cheese (8 oz) |
$9.47
|
$10.93
ISK1,324
|
|
| Milk (1 gallon) |
$5.13
|
$7.78
ISK942
|
|
|
Eggs
1 dozen
|
$6.03
|
$7.08
ISK858
|
|
| Boneless chicken breast (1 lb) |
$7.93
|
$11.00
ISK1,333
|
|
| Apples (1 lb) |
$3.11
|
$1.50
ISK182
|
|
| Bananas (1 lb) |
$0.96
|
$1.27
ISK154
|
|
| Oranges (1 lb) |
$2.83
|
$1.46
ISK177
|
|
| Tomatoes (1 lb) |
$3.08
|
$2.93
ISK355
|
|
| Potatoes (1 lb) |
$1.83
|
$1.78
ISK215
|
|
| Onions (1 lb) |
$2.04
|
$0.76
ISK92
|
|
New York City vs. Reykjavik - Cost of groceries
pay 28.6% more for transportation
|
New York City
|
Reykjavik
|
||
|---|---|---|---|
| Gasoline (1 gallon) |
$4.31
|
$7.76
ISK941
|
|
| Monthly public transit pass |
$140.00
|
$94.80
ISK11,488
|
|
| New Volkswagen Golf 1.4 (standard edition) |
$35,458.00
|
$50,588.43
ISK6M
|
|
| Taxi trip in downtown area (5 miles) |
$20.44
|
$29.26
ISK3,545
|
|
New York City vs. Reykjavik - Cost of transportation
pay 40.7% less for housing
|
New York City
|
Reykjavik
|
||
|---|---|---|---|
|
Internet connection
50 mbps or faster, cable/dsl
|
$71.57
|
$86.01
ISK10,422
|
|
| 1-Bedroom apartment in downtown area |
$4,447.32
|
$2,522.88
ISK306K
|
|
| 1-Bedroom apartment outside city center |
$3,217.65
|
$2,032.25
ISK246K
|
|
|
Utilities for two
(700 sq ft apartment)
including electric, gas, water, heating
|
$164.80
|
$73.44
ISK8,899
|
|
New York City vs. Reykjavik - Cost of housing
pay 61.4% less for childcare
|
New York City
|
Reykjavik
|
||
|---|---|---|---|
| Private preschool for 1 child, monthly |
$3,379.10
|
$1,185.23
ISK144K
|
|
| Middle school for 1 child, two semesters |
$60,882.67
|
$25,853.51
ISK3M
|
|
New York City vs. Reykjavik - Cost of childcare
pay 0.8% less for entertainment and sports
|
New York City
|
Reykjavik
|
||
|---|---|---|---|
| Domestic/local beer (1 pint) |
$8.50
|
$13.89
ISK1,684
|
|
| Cappuccino in mid-range area |
$6.50
|
$6.74
ISK817
|
|
|
Pack of cigarettes
Marlboro or similar
|
$19.00
|
$13.89
ISK1,684
|
|
| Monthly membership at local gym |
$121.41
|
$100.25
ISK12,148
|
|
| Movie ticket to theater/cinema |
$22.50
|
$19.57
ISK2,372
|
|
New York City vs. Reykjavik - Cost of entertainment and sports
pay 61.2% more for clothing
|
New York City
|
Reykjavik
|
||
|---|---|---|---|
|
Regular jeans
Levi's brand
|
$75.86
|
$149.01
ISK18,058
|
|
|
Regular dress
from H&M or similar store
|
$54.45
|
$65.79
ISK7,972
|
|
|
Running shoes
Nike or Adidas
|
$120.38
|
$181.84
ISK22,035
|
|
| Men's business shoes (leather) |
$132.00
|
$248.81
ISK30,151
|
|
New York City vs. Reykjavik - Cost of clothing
We average the price of thousands of data points entered by users across the world. Sources: MyLifeElsewhere's cost-of-living dataset (prices updated October 2026). How we calculate this
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Compare further: New York City vs. Reykjavik
Compare countries by overall cost of living
See the
cost of living in United States vs. Iceland.
This provides a comparison of the average cost of living from cities within United States and Iceland.
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