Cost of living comparison

Iceland

compared to

Spain

Palma De Mallorca vs. Reykjavik Cost of Living Summary

Palma De Mallorca is 38.8% cheaper than Reykjavik.

Restaurants: pay 40.2% less in Palma De Mallorca
Groceries: pay 43.9% less in Palma De Mallorca
Transportation: pay 34.3% less in Palma De Mallorca
Housing: pay 30.1% less in Palma De Mallorca
Childcare: pay 53.9% less in Palma De Mallorca
Entertainment and Sports: pay 52.5% less in Palma De Mallorca
Clothing: pay 41.9% less in Palma De Mallorca

Expenses including childcare, entertainment and sports, groceries, clothing, restaurants, and transportation are lower in Palma De Mallorca.

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Palma De Mallorca vs. Reykjavik Cost Breakdown

If you lived in Palma De Mallorca instead of Reykjavik, you would:

Display currency: USD

pay 40.2% less for restaurants

	Reykjavik	Palma De Mallorca
Basic meal with drink at inexpensive restaurant	$31.06 ISK3,782	$18.48 €16.49	-40.5%
Fast food combo meal McDonalds, or similar	$26.97 ISK3,284	$13.44 €11.99	-50.2%
Bottle of Coca-Cola (11 fl. oz)	$3.31 ISK404	$2.64 €2.36	-20.4%
Bottle of water (11 fl. oz)	$3.11 ISK378	$2.69 €2.40	-13.5%
Average			-40.2%

Reykjavik vs. Palma De Mallorca - Cost of restaurants

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pay 43.9% less for groceries

	Reykjavik	Palma De Mallorca
Bread 1 loaf	$4.19 ISK511	$1.16 €1.04	-72.2%
Local cheese (8 oz)	$10.93 ISK1,331	$7.28 €6.50	-33.4%
Milk (1 gallon)	$7.78 ISK947	$5.06 €4.51	-35.0%
Eggs 1 dozen	$7.08 ISK862	$3.45 €3.08	-51.3%
Boneless chicken breast (1 lb)	$11.00 ISK1,340	$3.99 €3.56	-63.7%
Apples (1 lb)	$1.50 ISK183	$1.13 €1.01	-24.7%
Bananas (1 lb)	$1.27 ISK154	$0.90 €0.81	-28.7%
Oranges (1 lb)	$1.46 ISK178	$0.78 €0.70	-46.5%
Tomatoes (1 lb)	$2.93 ISK357	$1.27 €1.14	-56.6%
Potatoes (1 lb)	$1.78 ISK216	$0.89 €0.79	-49.9%
Onions (1 lb)	$0.76 ISK92	$0.99 €0.88	+31.0%
Average			-43.9%

Reykjavik vs. Palma De Mallorca - Cost of groceries

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pay 34.3% less for transportation

	Reykjavik	Palma De Mallorca
Gasoline (1 gallon)	$7.76 ISK946	$6.89 €6.15	-11.3%
Monthly public transit pass	$94.80 ISK11,545	$41.43 €36.98	-56.3%
New Volkswagen Golf 1.4 (standard edition)	$50,588.43 ISK6M	$35,271.67 €31,481.31	-30.3%
Taxi trip in downtown area (5 miles)	$29.26 ISK3,563	$15.68 €13.99	-46.4%
Average			-34.3%

Reykjavik vs. Palma De Mallorca - Cost of transportation

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pay 30.1% less for housing

	Reykjavik	Palma De Mallorca
Internet connection 50 mbps or faster, cable/dsl	$86.01 ISK10,474	$42.55 €37.98	-50.5%
1-Bedroom apartment in downtown area	$2,522.88 ISK307K	$1,494.85 €1,334.21	-40.7%
1-Bedroom apartment outside city center	$2,032.25 ISK247K	$1,069.49 €954.56	-47.4%
Utilities for two (700 sq ft apartment) including electric, gas, water, heating	$73.44 ISK8,943	$190.12 €169.69	+158.9%
Average			-30.1%

Reykjavik vs. Palma De Mallorca - Cost of housing

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pay 53.9% less for childcare

	Reykjavik	Palma De Mallorca
Private preschool for 1 child, monthly	$1,185.23 ISK144K	$617.72 €551.34	-47.9%
Middle school for 1 child, two semesters	$25,853.51 ISK3M	$10,544.18 €9,411.08	-59.2%
Average			-53.9%

Reykjavik vs. Palma De Mallorca - Cost of childcare

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pay 52.5% less for entertainment and sports

	Reykjavik	Palma De Mallorca
Domestic/local beer (1 pint)	$13.89 ISK1,692	$4.48 €4.00	-67.8%
Cappuccino in mid-range area	$6.74 ISK821	$3.22 €2.87	-52.3%
Pack of cigarettes Marlboro or similar	$13.89 ISK1,692	$6.80 €6.07	-51.0%
Monthly membership at local gym	$100.25 ISK12,209	$62.39 €55.68	-37.8%
Movie ticket to theater/cinema	$19.57 ISK2,384	$9.52 €8.49	-51.4%
Average			-52.5%

Reykjavik vs. Palma De Mallorca - Cost of entertainment and sports

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pay 41.9% less for clothing

	Reykjavik	Palma De Mallorca
Regular jeans Levi's brand	$149.01 ISK18,147	$71.85 €64.13	-51.8%
Regular dress from H&M or similar store	$65.79 ISK8,012	$54.68 €48.80	-16.9%
Running shoes Nike or Adidas	$181.84 ISK22,145	$98.72 €88.11	-45.7%
Men's business shoes (leather)	$248.81 ISK30,300	$129.89 €115.93	-47.8%
Average			-41.9%

Reykjavik vs. Palma De Mallorca - 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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