Cost of living comparison
compared to
Iceland vs. Reykjavik Cost of Living Summary
Iceland is 3.3% cheaper than Reykjavik.
Iceland vs. Reykjavik Cost Breakdown
If you lived in Iceland instead of Reykjavik, you would:
pay 3.9% less for restaurants
|
Reykjavik
|
Iceland
|
||
|---|---|---|---|
| Basic meal with drink at inexpensive restaurant |
$27.48
ISK3,420
|
$26.52
ISK3,301
|
|
|
Fast food combo meal
McDonalds, or similar
|
$22.76
ISK2,833
|
$21.32
ISK2,654
|
|
| Bottle of Coca-Cola (11 fl. oz) |
$3.34
ISK415
|
$3.11
ISK387
|
|
| Bottle of water (11 fl. oz) |
$2.70
ISK336
|
$2.72
ISK339
|
|
Reykjavik vs. Iceland - Cost of restaurants
pay 4.0% less for groceries
|
Reykjavik
|
Iceland
|
||
|---|---|---|---|
|
Bread
1 loaf
|
$4.63
ISK577
|
$3.80
ISK473
|
|
| Local cheese (8 oz) |
$9.44
ISK1,175
|
$9.44
ISK1,175
|
|
| Milk (1 gallon) |
$7.63
ISK950
|
$7.78
ISK968
|
|
|
Eggs
1 dozen
|
$6.50
ISK809
|
$6.71
ISK835
|
|
| Boneless chicken breast (1 lb) |
$11.29
ISK1,406
|
$11.22
ISK1,396
|
|
| Apples (1 lb) |
$1.59
ISK198
|
$1.50
ISK186
|
|
| Bananas (1 lb) |
$1.17
ISK146
|
$1.15
ISK143
|
|
| Oranges (1 lb) |
$1.49
ISK185
|
$1.41
ISK176
|
|
| Tomatoes (1 lb) |
$2.54
ISK316
|
$2.34
ISK291
|
|
| Potatoes (1 lb) |
$1.70
ISK211
|
$1.65
ISK205
|
|
| Onions (1 lb) |
$1.13
ISK141
|
$1.09
ISK136
|
|
Reykjavik vs. Iceland - Cost of groceries
pay 5.6% less for transportation
|
Reykjavik
|
Iceland
|
||
|---|---|---|---|
| Gasoline (1 gallon) |
$9.66
ISK1,202
|
$9.65
ISK1,202
|
|
| Monthly public transit pass |
$88.58
ISK11,027
|
$79.56
ISK9,904
|
|
| New Volkswagen Golf 1.4 (standard edition) |
$50,771.00
ISK6M
|
$49,144.25
ISK6M
|
|
| Taxi trip in downtown area (5 miles) |
$28.07
ISK3,494
|
$25.55
ISK3,181
|
|
Reykjavik vs. Iceland - Cost of transportation
pay 3.7% more for housing
|
Reykjavik
|
Iceland
|
||
|---|---|---|---|
|
Internet connection
50 mbps or faster, cable/dsl
|
$81.97
ISK10,203
|
$95.65
ISK11,906
|
|
| 1-Bedroom apartment in downtown area |
$2,259.48
ISK281K
|
$2,289.17
ISK285K
|
|
| 1-Bedroom apartment outside city center |
$2,034.90
ISK253K
|
$1,830.04
ISK228K
|
|
|
Utilities for two
(700 sq ft apartment)
including electric, gas, water, heating
|
$60.87
ISK7,578
|
$65.15
ISK8,110
|
|
Reykjavik vs. Iceland - Cost of housing
pay 2.1% more for childcare
|
Reykjavik
|
Iceland
|
||
|---|---|---|---|
| Private preschool for 1 child, monthly |
$327.78
ISK40,802
|
$334.67
ISK41,659
|
|
| Middle school for 1 child, two semesters |
$30,711.08
ISK4M
|
$30,711.08
ISK4M
|
|
Reykjavik vs. Iceland - Cost of childcare
pay 7.5% less for entertainment and sports
|
Reykjavik
|
Iceland
|
||
|---|---|---|---|
| Domestic/local beer (1 pint) |
$13.12
ISK1,634
|
$11.14
ISK1,387
|
|
| Cappuccino in mid-range area |
$6.17
ISK768
|
$5.62
ISK700
|
|
|
Pack of cigarettes
Marlboro or similar
|
$13.94
ISK1,735
|
$13.90
ISK1,730
|
|
| Monthly membership at local gym |
$87.35
ISK10,874
|
$78.17
ISK9,731
|
|
| Movie ticket to theater/cinema |
$17.18
ISK2,139
|
$16.75
ISK2,085
|
|
Reykjavik vs. Iceland - Cost of entertainment and sports
pay 8.2% less for clothing
|
Reykjavik
|
Iceland
|
||
|---|---|---|---|
|
Regular jeans
Levi's brand
|
$145.10
ISK18,062
|
$130.91
ISK16,295
|
|
|
Regular dress
from H&M or similar store
|
$63.97
ISK7,963
|
$61.83
ISK7,697
|
|
|
Running shoes
Nike or Adidas
|
$193.43
ISK24,078
|
$163.81
ISK20,392
|
|
| Men's business shoes (leather) |
$248.79
ISK30,970
|
$237.31
ISK29,541
|
|
Reykjavik 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: March 2026
Change currency:
Help us improve these prices
MyLifeElsewhere is a collaborative project. Please enter price information for your location to help assist us in making these comparisons more accurate.
Learn more
Ask the Elsewhere Community
Join the Elsewhere community and ask a question about Iceland or Reykjavik. It's a free, question-and-answer based forum to discuss what life is like in countries and cities around the world.