Cost of living comparison
Madrid is 14.8% cheaper than Reykjavik.
If you lived in Madrid instead of Reykjavik, you would:
pay 21.6% less for restaurants
|
Reykjavik
|
Madrid
|
||
|---|---|---|---|
| Basic meal with drink at inexpensive restaurant |
$18.40
kr2,593
|
$13.19
€12.31
|
|
|
Fast food combo meal
McDonalds, or similar
|
$15.62
kr2,202
|
$8.80
€8.21
|
|
| Bottle of Coca-Cola (11 fl. oz) |
$2.53
kr357
|
$2.53
€2.36
|
|
| Bottle of water (11 fl. oz) |
$2.03
kr285
|
$1.74
€1.62
|
|
pay 33.6% less for groceries
|
Reykjavik
|
Madrid
|
||
|---|---|---|---|
|
Bread
1 loaf
|
$3.40
kr480
|
$1.25
€1.17
|
|
| Local cheese (8 oz) |
$7.20
kr1,014
|
$5.92
€5.53
|
|
| Milk (1 gallon) |
$5.90
kr831
|
$3.90
€3.64
|
|
|
Eggs
1 dozen
|
$5.64
kr795
|
$2.69
€2.51
|
|
| Boneless chicken breast (1 lb) |
$8.08
kr1,139
|
$3.74
€3.49
|
|
| Apples (1 lb) |
$1.57
kr221
|
$1.08
€1.01
|
|
| Bananas (1 lb) |
$0.93
kr131
|
$0.98
€0.91
|
|
| Oranges (1 lb) |
$1.23
kr173
|
$0.86
€0.80
|
|
| Tomatoes (1 lb) |
$2.22
kr312
|
$1.03
€0.96
|
|
| Potatoes (1 lb) |
$1.24
kr175
|
$0.67
€0.63
|
|
| Onions (1 lb) |
$0.69
kr97
|
$0.74
€0.69
|
|
pay 26.2% less for transportation
|
Reykjavik
|
Madrid
|
||
|---|---|---|---|
| Gasoline (1 gallon) |
$8.90
kr1,254
|
$7.44
€6.95
|
|
| Monthly public transit pass |
$65.56
kr9,237
|
$59.37
€55.42
|
|
| New Volkswagen Golf 1.4 (standard edition) |
$37,150.35
kr5,234,484
|
$27,693.49
€25,849.10
|
|
| Taxi trip in downtown area (5 miles) |
$29.44
kr4,149
|
$13.63
€12.73
|
|
pay 9.8% less for housing
|
Reykjavik
|
Madrid
|
||
|---|---|---|---|
|
Internet connection
50 mbps or faster, cable/dsl
|
$64.04
kr9,023
|
$34.19
€31.91
|
|
| 1-Bedroom apartment in downtown area |
$1,613.16
kr227,294
|
$1,094.67
€1,021.76
|
|
| 1-Bedroom apartment outside city center |
$1,379.70
kr194,400
|
$816.29
€761.92
|
|
|
Utilities for two
(700 sq ft apartment)
including electric, gas, water, heating
|
$69.31
kr9,766
|
$125.07
€116.74
|
|
pay 72.2% more for childcare
|
Reykjavik
|
Madrid
|
||
|---|---|---|---|
| Private preschool for 1 child, monthly |
$282.44
kr39,795
|
$529.47
€494.21
|
|
| Middle school for 1 child, two semesters |
$6,058.18
kr853,597
|
$9,499.24
€8,866.59
|
|
pay 47.0% less for entertainment and sports
|
Reykjavik
|
Madrid
|
||
|---|---|---|---|
| Domestic/local beer (1 pint) |
$9.47
kr1,334
|
$3.30
€3.08
|
|
| Cappuccino in mid-range area |
$4.53
kr638
|
$2.17
€2.03
|
|
|
Pack of cigarettes
Marlboro or similar
|
$11.66
kr1,642
|
$5.61
€5.23
|
|
| Monthly membership at local gym |
$67.30
kr9,483
|
$41.71
€38.93
|
|
| Movie ticket to theater/cinema |
$13.66
kr1,924
|
$9.90
€9.24
|
|
pay 37.4% less for clothing
|
Reykjavik
|
Madrid
|
||
|---|---|---|---|
|
Regular jeans
Levi's brand
|
$108.17
kr15,240
|
$67.45
€62.96
|
|
|
Regular dress
from H&M or similar store
|
$43.41
kr6,117
|
$35.01
€32.68
|
|
|
Running shoes
Nike or Adidas
|
$137.74
kr19,408
|
$76.87
€71.75
|
|
| Men's business shoes (leather) |
$182.49
kr25,713
|
$94.21
€87.93
|
|
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