Cost of living comparison

Iceland

compared to

Monaco

Monte Carlo vs. Reykjavik Cost of Living Summary

Monte Carlo is 38.9% more expensive than Reykjavik.

Restaurants: pay 5.1% more in Monte Carlo
Groceries: pay 34.6% more in Monte Carlo
Transportation: pay 15.9% less in Monte Carlo
Housing: pay 99.7% more in Monte Carlo
Childcare: pay 40.1% more in Monte Carlo
Entertainment and Sports: pay 25.1% more in Monte Carlo
Clothing: pay 21.4% more in Monte Carlo

The cost of housing, childcare, groceries, entertainment and sports, clothing, and restaurants in Monte Carlo are more expensive than in Reykjavik. Notably, housing is significantly more expensive in Monte Carlo.

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Monte Carlo vs. Reykjavik Cost Breakdown

If you lived in Monte Carlo instead of Reykjavik, you would:

Display currency: USD

pay 5.1% more for restaurants

	Reykjavik	Monte Carlo
Basic meal with drink at inexpensive restaurant	$31.06 ISK3,782	$41.99 €37.48	+35.2%
Fast food combo meal McDonalds, or similar	$26.97 ISK3,284	$11.20 €9.99	-58.5%
Bottle of Coca-Cola (11 fl. oz)	$3.31 ISK404	$8.96 €8.00	+170.3%
Bottle of water (11 fl. oz)	$3.11 ISK378	$10.56 €9.43	+240.1%
Average			+5.1%

Reykjavik vs. Monte Carlo - Cost of restaurants

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pay 34.6% more for groceries

	Reykjavik	Monte Carlo
Bread 1 loaf	$4.19 ISK511	$5.04 €4.50	+20.2%
Local cheese (8 oz)	$10.93 ISK1,331	$10.64 €9.49	-2.7%
Milk (1 gallon)	$7.78 ISK947	$8.48 €7.57	+9.0%
Eggs 1 dozen	$7.08 ISK862	$4.70 €4.20	-33.6%
Boneless chicken breast (1 lb)	$11.00 ISK1,340	$7.62 €6.80	-30.8%
Apples (1 lb)	$1.50 ISK183	$2.79 €2.49	+85.7%
Bananas (1 lb)	$1.27 ISK154	$3.30 €2.95	+160.3%
Oranges (1 lb)	$1.46 ISK178	$2.17 €1.94	+48.7%
Tomatoes (1 lb)	$2.93 ISK357	$3.81 €3.40	+29.9%
Potatoes (1 lb)	$1.78 ISK216	$2.54 €2.27	+43.1%
Onions (1 lb)	$0.76 ISK92	$2.54 €2.27	+235.8%
Average			+34.6%

Reykjavik vs. Monte Carlo - Cost of groceries

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pay 15.9% less for transportation

	Reykjavik	Monte Carlo
Gasoline (1 gallon)	$7.76 ISK946	$9.20 €8.21	+18.5%
Monthly public transit pass	$94.80 ISK11,545	$37.51 €33.48	-60.4%
New Volkswagen Golf 1.4 (standard edition)	$50,588.43 ISK6M	$54,374.36 €48,531.18	+7.5%
Taxi trip in downtown area (5 miles)	$29.26 ISK3,563	$23.51 €20.99	-19.6%
Average			-15.9%

Reykjavik vs. Monte Carlo - Cost of transportation

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pay 99.7% more for housing

	Reykjavik	Monte Carlo
Internet connection 50 mbps or faster, cable/dsl	$86.01 ISK10,474	$96.30 €85.95	+12.0%
1-Bedroom apartment in downtown area	$2,522.88 ISK307K	$2,799.34 €2,498.52	+11.0%
1-Bedroom apartment outside city center	$2,032.25 ISK247K	$5,337.22 €4,763.67	+162.6%
Utilities for two (700 sq ft apartment) including electric, gas, water, heating	$73.44 ISK8,943	$410.15 €366.08	+458.5%
Average			+99.7%

Reykjavik vs. Monte Carlo - Cost of housing

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pay 40.1% more for childcare

	Reykjavik	Monte Carlo
Private preschool for 1 child, monthly	$1,185.23 ISK144K	$3,583.15 €3,198.10	+202.3%
Middle school for 1 child, two semesters	$25,853.51 ISK3M	$16,796.03 €14,991.10	-35.0%
Average			+40.1%

Reykjavik vs. Monte Carlo - Cost of childcare

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pay 25.1% more for entertainment and sports

	Reykjavik	Monte Carlo
Domestic/local beer (1 pint)	$13.89 ISK1,692	$10.08 €8.99	-27.5%
Cappuccino in mid-range area	$6.74 ISK821	$4.20 €3.75	-37.7%
Pack of cigarettes Marlboro or similar	$13.89 ISK1,692	$12.32 €10.99	-11.3%
Monthly membership at local gym	$100.25 ISK12,209	$531.87 €474.72	+430.5%
Movie ticket to theater/cinema	$19.57 ISK2,384	$17.92 €15.99	-8.5%
Average			+25.1%

Reykjavik vs. Monte Carlo - Cost of entertainment and sports

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pay 21.4% more for clothing

	Reykjavik	Monte Carlo
Regular jeans Levi's brand	$149.01 ISK18,147	$223.95 €199.88	+50.3%
Regular dress from H&M or similar store	$65.79 ISK8,012	$78.38 €69.96	+19.1%
Running shoes Nike or Adidas	$181.84 ISK22,145	$195.95 €174.90	+7.8%
Men's business shoes (leather)	$248.81 ISK30,300	$279.93 €249.85	+12.5%
Average			+21.4%

Reykjavik vs. Monte Carlo - 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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