Cost of living comparison

United States

compared to

Iceland

Reykjavik vs. Parsippany-Troy Hills Cost of Living Summary

Reykjavik is 53.0% more expensive than Parsippany-Troy Hills.

Restaurants: pay 2.0 times more in Reykjavik
Groceries: pay 63.4% more in Reykjavik
Transportation: pay 65.6% more in Reykjavik
Housing: pay 21.7% more in Reykjavik
Childcare: pay 2.1% less in Reykjavik
Entertainment and Sports: pay 2.0 times more in Reykjavik
Clothing: pay 2.2 times more in Reykjavik

The cost of clothing, restaurants, entertainment and sports, transportation, groceries, and housing in Reykjavik are more expensive than in Parsippany-Troy Hills. Notably, clothing, restaurants, and entertainment and sports are significantly more expensive in Reykjavik.

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Reykjavik vs. Parsippany-Troy Hills Cost Breakdown

If you lived in Reykjavik instead of Parsippany-Troy Hills, you would:

Display currency: USD

pay 2.0 times more for restaurants

	Parsippany-Troy Hills	Reykjavik
Basic meal with drink at inexpensive restaurant	$15.00	$31.06 ISK3,782	+107.0%
Fast food combo meal McDonalds, or similar	$12.00	$26.97 ISK3,284	+124.7%
Bottle of Coca-Cola (11 fl. oz)	$2.50	$3.31 ISK404	+32.6%
Bottle of water (11 fl. oz)	$1.50	$3.11 ISK378	+107.1%
Average			+103.8%

Parsippany-Troy Hills vs. Reykjavik - Cost of restaurants

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pay 63.4% more for groceries

	Parsippany-Troy Hills	Reykjavik
Bread 1 loaf	$4.41	$4.19 ISK511	-4.9%
Local cheese (8 oz)	$6.61	$10.93 ISK1,331	+65.3%
Milk (1 gallon)	$4.35	$7.78 ISK947	+78.8%
Eggs 1 dozen	$3.50	$7.08 ISK862	+102.2%
Boneless chicken breast (1 lb)	$3.00	$11.00 ISK1,340	+266.8%
Apples (1 lb)	$1.20	$1.50 ISK183	+25.4%
Bananas (1 lb)	$0.55	$1.27 ISK154	+130.6%
Oranges (1 lb)	$1.20	$1.46 ISK178	+21.6%
Tomatoes (1 lb)	$1.30	$2.93 ISK357	+125.6%
Potatoes (1 lb)	$1.00	$1.78 ISK216	+77.5%
Onions (1 lb)	$1.00	$0.76 ISK92	-24.4%
Average			+63.4%

Parsippany-Troy Hills vs. Reykjavik - Cost of groceries

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pay 65.6% more for transportation

	Parsippany-Troy Hills	Reykjavik
Gasoline (1 gallon)	$3.48	$7.76 ISK946	+123.2%
Monthly public transit pass	$70.00	$94.80 ISK11,545	+35.4%
New Volkswagen Golf 1.4 (standard edition)	$35,458.00	$50,588.43 ISK6M	+42.7%
Taxi trip in downtown area (5 miles)	$19.40	$29.26 ISK3,563	+50.8%
Average			+65.6%

Parsippany-Troy Hills vs. Reykjavik - Cost of transportation

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pay 21.7% more for housing

	Parsippany-Troy Hills	Reykjavik
Internet connection 50 mbps or faster, cable/dsl	$40.00	$86.01 ISK10,474	+115.0%
1-Bedroom apartment in downtown area	$1,850.00	$2,522.88 ISK307K	+36.4%
1-Bedroom apartment outside city center	$1,500.00	$2,032.25 ISK247K	+35.5%
Utilities for two (700 sq ft apartment) including electric, gas, water, heating	$131.21	$73.44 ISK8,943	-44.0%
Average			+21.7%

Parsippany-Troy Hills vs. Reykjavik - Cost of housing

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pay 2.1% less for childcare

	Parsippany-Troy Hills	Reykjavik
Private preschool for 1 child, monthly	$2,000.00	$1,185.23 ISK144K	-40.7%
Middle school for 1 child, two semesters	$16,000.00	$25,853.51 ISK3M	+61.6%
Average			-2.1%

Parsippany-Troy Hills vs. Reykjavik - Cost of childcare

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pay 2.0 times more for entertainment and sports

	Parsippany-Troy Hills	Reykjavik
Domestic/local beer (1 pint)	$7.50	$13.89 ISK1,692	+85.2%
Cappuccino in mid-range area	$4.50	$6.74 ISK821	+49.8%
Pack of cigarettes Marlboro or similar	$11.00	$13.89 ISK1,692	+26.3%
Monthly membership at local gym	$25.00	$100.25 ISK12,209	+301.0%
Movie ticket to theater/cinema	$12.00	$19.57 ISK2,384	+63.1%
Average			+100.8%

Parsippany-Troy Hills vs. Reykjavik - Cost of entertainment and sports

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pay 2.2 times more for clothing

	Parsippany-Troy Hills	Reykjavik
Regular jeans Levi's brand	$32.50	$149.01 ISK18,147	+358.5%
Regular dress from H&M or similar store	$47.50	$65.79 ISK8,012	+38.5%
Running shoes Nike or Adidas	$86.67	$181.84 ISK22,145	+109.8%
Men's business shoes (leather)	$132.50	$248.81 ISK30,300	+87.8%
Average			+123.7%

Parsippany-Troy Hills vs. Reykjavik - Cost of clothing

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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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