Cost of living comparison
compared to
Melbourne vs. Reykjavik Cost of Living Summary
Melbourne is 15.8% cheaper than Reykjavik.
- Restaurants
-
pay 29.1% less in Melbourne
- Groceries
-
pay 18.5% less in Melbourne
- Transportation
-
pay 55.6% less in Melbourne
- Housing
-
pay 16.3% more in Melbourne
- Childcare
-
pay 60.8% more in Melbourne
- Entertainment and Sports
-
pay 31.9% less in Melbourne
- Clothing
-
pay 52.9% less in Melbourne
The cost of childcare and housing in Melbourne are more expensive than in Reykjavik. Expenses including transportation, clothing, entertainment and sports, restaurants, and groceries are lower in Melbourne.
Melbourne vs. Reykjavik Cost Breakdown
If you lived in Melbourne instead of Reykjavik, you would:
pay 29.1% less for restaurants
|
Reykjavik
|
Melbourne
|
||
|---|---|---|---|
| Basic meal with drink at inexpensive restaurant |
$27.48
ISK3,517
|
$20.00
|
|
|
Fast food combo meal
McDonalds, or similar
|
$22.76
ISK2,913
|
$9.75
|
|
| Bottle of Coca-Cola (11 fl. oz) |
$3.34
ISK427
|
$2.98
|
|
| Bottle of water (11 fl. oz) |
$2.70
ISK345
|
$2.12
|
|
Reykjavik vs. Melbourne - Cost of restaurants
pay 18.5% less for groceries
|
Reykjavik
|
Melbourne
|
||
|---|---|---|---|
|
Bread
1 loaf
|
$4.63
ISK593
|
$3.81
|
|
| Local cheese (8 oz) |
$9.44
ISK1,208
|
$6.57
|
|
| Milk (1 gallon) |
$7.63
ISK976
|
$3.20
|
|
|
Eggs
1 dozen
|
$6.50
ISK832
|
$4.65
|
|
| Boneless chicken breast (1 lb) |
$11.29
ISK1,445
|
$3.97
|
|
| Apples (1 lb) |
$1.59
ISK204
|
$2.11
|
|
| Bananas (1 lb) |
$1.17
ISK150
|
$0.82
|
|
| Oranges (1 lb) |
$1.49
ISK190
|
$1.62
|
|
| Tomatoes (1 lb) |
$2.54
ISK325
|
$2.13
|
|
| Potatoes (1 lb) |
$1.70
ISK217
|
$1.34
|
|
| Onions (1 lb) |
$1.13
ISK145
|
$1.37
|
|
Reykjavik vs. Melbourne - Cost of groceries
pay 55.6% less for transportation
|
Reykjavik
|
Melbourne
|
||
|---|---|---|---|
| Gasoline (1 gallon) |
$9.66
ISK1,236
|
$3.15
|
|
| Monthly public transit pass |
$88.58
ISK11,337
|
$42.00
|
|
| New Volkswagen Golf 1.4 (standard edition) |
$50,771.00
ISK6,497,672
|
$36,050.00
|
|
| Taxi trip in downtown area (5 miles) |
$28.07
ISK3,592
|
$7.47
|
|
Reykjavik vs. Melbourne - Cost of transportation
pay 16.3% more for housing
|
Reykjavik
|
Melbourne
|
||
|---|---|---|---|
|
Internet connection
50 mbps or faster, cable/dsl
|
$81.97
ISK10,490
|
$70.88
|
|
| 1-Bedroom apartment in downtown area |
$2,259.48
ISK289,169
|
$1,640.00
|
|
| 1-Bedroom apartment outside city center |
$2,034.90
ISK260,427
|
$1,620.00
|
|
|
Utilities for two
(700 sq ft apartment)
including electric, gas, water, heating
|
$60.87
ISK7,791
|
$137.93
|
|
Reykjavik vs. Melbourne - Cost of housing
pay 60.8% more for childcare
|
Reykjavik
|
Melbourne
|
||
|---|---|---|---|
| Private preschool for 1 child, monthly |
$327.78
ISK41,949
|
$900.00
|
|
| Middle school for 1 child, two semesters |
$30,711.08
ISK3,930,404
|
$14,400.00
|
|
Reykjavik vs. Melbourne - Cost of childcare
pay 31.9% less for entertainment and sports
|
Reykjavik
|
Melbourne
|
||
|---|---|---|---|
| Domestic/local beer (1 pint) |
$13.12
ISK1,680
|
$6.00
|
|
| Cappuccino in mid-range area |
$6.17
ISK790
|
$5.12
|
|
|
Pack of cigarettes
Marlboro or similar
|
$13.94
ISK1,783
|
$8.00
|
|
| Monthly membership at local gym |
$87.35
ISK11,179
|
$70.00
|
|
| Movie ticket to theater/cinema |
$17.18
ISK2,199
|
$12.75
|
|
Reykjavik vs. Melbourne - Cost of entertainment and sports
pay 52.9% less for clothing
|
Reykjavik
|
Melbourne
|
||
|---|---|---|---|
|
Regular jeans
Levi's brand
|
$145.10
ISK18,569
|
$56.43
|
|
|
Regular dress
from H&M or similar store
|
$63.97
ISK8,187
|
$37.33
|
|
|
Running shoes
Nike or Adidas
|
$193.43
ISK24,755
|
$92.12
|
|
| Men's business shoes (leather) |
$248.79
ISK31,840
|
$108.33
|
|
Reykjavik vs. Melbourne - 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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