Cost of living comparison

Iceland

compared to

Monaco

Monaco vs. Reykjavik Cost of Living Summary

Monaco is 43.0% more expensive than Reykjavik.

Restaurants: pay 31.9% less in Monaco
Groceries: pay 19.5% less in Monaco
Transportation: pay 30.4% less in Monaco
Housing: pay 3.6 times more in Monaco
Childcare: pay 78.4% more in Monaco
Entertainment and Sports: pay 7.1% less in Monaco
Clothing: pay 36.2% more in Monaco

The cost of housing, childcare, and clothing in Monaco are more expensive than in Reykjavik. Expenses including restaurants, transportation, groceries, and entertainment and sports are lower in Monaco. Notably, housing and childcare are significantly more expensive in Monaco.

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Monaco vs. Reykjavik Cost Breakdown

If you lived in Monaco instead of Reykjavik, you would:

Display currency: USD

pay 31.9% less for restaurants

	Reykjavik	Monaco
Basic meal with drink at inexpensive restaurant	$31.06 ISK3,763	$19.60 €17.44	-36.9%
Fast food combo meal McDonalds, or similar	$26.97 ISK3,268	$12.32 €10.96	-54.3%
Bottle of Coca-Cola (11 fl. oz)	$3.31 ISK402	$6.08 €5.41	+83.6%
Bottle of water (11 fl. oz)	$3.11 ISK376	$4.48 €3.99	+44.2%
Average			-31.9%

Reykjavik vs. Monaco - Cost of restaurants

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pay 19.5% less for groceries

	Reykjavik	Monaco
Bread 1 loaf	$4.19 ISK508	$3.31 €2.94	-21.1%
Local cheese (8 oz)	$10.93 ISK1,324	$6.83 €6.08	-37.5%
Milk (1 gallon)	$7.78 ISK942	$6.71 €5.97	-13.7%
Eggs 1 dozen	$7.08 ISK858	$4.87 €4.33	-31.2%
Boneless chicken breast (1 lb)	$11.00 ISK1,333	$7.62 €6.78	-30.7%
Apples (1 lb)	$1.50 ISK182	$1.46 €1.30	-3.2%
Bananas (1 lb)	$1.27 ISK154	$1.27 €1.13	-0.1%
Oranges (1 lb)	$1.46 ISK177	$1.23 €1.09	-15.9%
Tomatoes (1 lb)	$2.93 ISK355	$1.57 €1.40	-46.4%
Potatoes (1 lb)	$1.78 ISK215	$1.10 €0.98	-37.9%
Onions (1 lb)	$0.76 ISK92	$1.27 €1.13	+67.6%
Average			-19.5%

Reykjavik vs. Monaco - Cost of groceries

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pay 30.4% less for transportation

	Reykjavik	Monaco
Gasoline (1 gallon)	$7.76 ISK941	$8.62 €7.67	+11.0%
Monthly public transit pass	$94.80 ISK11,488	$23.51 €20.93	-75.2%
New Volkswagen Golf 1.4 (standard edition)	$50,588.43 ISK6M	$48,347.38 €43,030.91	-4.4%
Taxi trip in downtown area (5 miles)	$29.26 ISK3,545	??
Average			-30.4%

Reykjavik vs. Monaco - Cost of transportation

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pay 3.6 times more for housing

	Reykjavik	Monaco
Internet connection 50 mbps or faster, cable/dsl	$86.01 ISK10,422	$63.82 €56.81	-25.8%
1-Bedroom apartment in downtown area	$2,522.88 ISK306K	$9,144.51 €8,138.94	+262.5%
1-Bedroom apartment outside city center	$2,032.25 ISK246K	$8,248.72 €7,341.66	+305.9%
Utilities for two (700 sq ft apartment) including electric, gas, water, heating	$73.44 ISK8,899	$323.95 €288.33	+341.1%
Average			+260.8%

Reykjavik vs. Monaco - Cost of housing

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pay 78.4% more for childcare

	Reykjavik	Monaco
Private preschool for 1 child, monthly	$1,185.23 ISK144K	$2,183.48 €1,943.38	+84.2%
Middle school for 1 child, two semesters	$25,853.51 ISK3M	$44,649.46 €39,739.62	+72.7%
Average			+78.4%

Reykjavik vs. Monaco - Cost of childcare

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pay 7.1% less for entertainment and sports

	Reykjavik	Monaco
Domestic/local beer (1 pint)	$13.89 ISK1,684	$10.08 €8.97	-27.5%
Cappuccino in mid-range area	$6.74 ISK817	$3.70 €3.29	-45.2%
Pack of cigarettes Marlboro or similar	$13.89 ISK1,684	$14.00 €12.46	+0.7%
Monthly membership at local gym	$100.25 ISK12,148	$226.75 €201.81	+126.2%
Movie ticket to theater/cinema	$19.57 ISK2,372	$13.44 €11.96	-31.4%
Average			-7.1%

Reykjavik vs. Monaco - Cost of entertainment and sports

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pay 36.2% more for clothing

	Reykjavik	Monaco
Regular jeans Levi's brand	$149.01 ISK18,058	$150.42 €133.88	+0.9%
Regular dress from H&M or similar store	$65.79 ISK7,972	$83.42 €74.25	+26.8%
Running shoes Nike or Adidas	$181.84 ISK22,035	$167.21 €148.83	-8.0%
Men's business shoes (leather)	$248.81 ISK30,151	$727.27 €647.29	+192.3%
Average			+36.2%

Reykjavik vs. Monaco - 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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