Cost of living comparison

Iceland

compared to

United States

Traverse City vs. Reykjavik Cost of Living Summary

Traverse City is 17.0% cheaper than Reykjavik.

Restaurants: pay 34.1% less in Traverse City
Groceries: pay 17.5% less in Traverse City
Transportation: pay 54.0% less in Traverse City
Housing: pay 6.0% more in Traverse City
Childcare: pay 75.2% more in Traverse City
Entertainment and Sports: pay 47.1% less in Traverse City
Clothing: pay 47.8% less in Traverse City

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

Traverse City vs. Reykjavik Cost Breakdown

If you lived in Traverse City instead of Reykjavik, you would:

Display currency: USD

pay 34.1% less for restaurants

	Reykjavik	Traverse City
Basic meal with drink at inexpensive restaurant	$27.48 ISK3,445	$20.00	-27.2%
Fast food combo meal McDonalds, or similar	$22.76 ISK2,854	$10.00	-56.1%
Bottle of Coca-Cola (11 fl. oz)	$3.34 ISK418	$2.25	-32.5%
Bottle of water (11 fl. oz)	$2.70 ISK338	$2.14	-20.7%
Average			-34.1%

Reykjavik vs. Traverse City - Cost of restaurants

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pay 17.5% less for groceries

	Reykjavik	Traverse City
Bread 1 loaf	$4.63 ISK581	$2.94	-36.6%
Local cheese (8 oz)	$9.44 ISK1,183	$4.64	-50.8%
Milk (1 gallon)	$7.63 ISK957	$2.83	-62.9%
Eggs 1 dozen	$6.50 ISK815	$2.61	-59.9%
Boneless chicken breast (1 lb)	$11.29 ISK1,416	$5.07	-55.1%
Apples (1 lb)	$1.59 ISK199	$2.74	+72.4%
Bananas (1 lb)	$1.17 ISK147	$0.72	-38.4%
Oranges (1 lb)	$1.49 ISK187	$1.75	+17.6%
Tomatoes (1 lb)	$2.54 ISK318	$3.08	+21.4%
Potatoes (1 lb)	$1.70 ISK213	$1.21	-28.5%
Onions (1 lb)	$1.13 ISK142	$1.45	+28.0%
Average			-17.5%

Reykjavik vs. Traverse City - Cost of groceries

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pay 54.0% less for transportation

	Reykjavik	Traverse City
Gasoline (1 gallon)	$9.66 ISK1,211	$3.27	-66.1%
Monthly public transit pass	$88.58 ISK11,106	$30.00	-66.1%
New Volkswagen Golf 1.4 (standard edition)	$50,771.00 ISK6M	$35,699.74	-29.7%
Taxi trip in downtown area (5 miles)	$28.07 ISK3,519	??
Average			-54.0%

Reykjavik vs. Traverse City - Cost of transportation

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pay 6.0% more for housing

	Reykjavik	Traverse City
Internet connection 50 mbps or faster, cable/dsl	$81.97 ISK10,277	$67.50	-17.7%
1-Bedroom apartment in downtown area	$2,259.48 ISK283K	$1,983.33	-12.2%
1-Bedroom apartment outside city center	$2,034.90 ISK255K	$1,418.00	-30.3%
Utilities for two (700 sq ft apartment) including electric, gas, water, heating	$60.87 ISK7,632	$112.10	+84.1%
Average			+6.0%

Reykjavik vs. Traverse City - Cost of housing

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pay 75.2% more for childcare

	Reykjavik	Traverse City
Private preschool for 1 child, monthly	$327.78 ISK41,097	$1,030.00	+214.2%
Middle school for 1 child, two semesters	$30,711.08 ISK4M	$11,136.00	-63.7%
Average			+75.2%

Reykjavik vs. Traverse City - Cost of childcare

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pay 47.1% less for entertainment and sports

	Reykjavik	Traverse City
Domestic/local beer (1 pint)	$13.12 ISK1,645	$3.75	-71.4%
Cappuccino in mid-range area	$6.17 ISK774	$4.00	-35.2%
Pack of cigarettes Marlboro or similar	$13.94 ISK1,747	$6.00	-56.9%
Monthly membership at local gym	$87.35 ISK10,952	$63.33	-27.5%
Movie ticket to theater/cinema	$17.18 ISK2,154	$9.50	-44.7%
Average			-47.1%

Reykjavik vs. Traverse City - Cost of entertainment and sports

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pay 47.8% less for clothing

	Reykjavik	Traverse City
Regular jeans Levi's brand	$145.10 ISK18,192	$74.33	-48.8%
Regular dress from H&M or similar store	$63.97 ISK8,020	$41.67	-34.9%
Running shoes Nike or Adidas	$193.43 ISK24,252	$111.67	-42.3%
Men's business shoes (leather)	$248.79 ISK31,194	$86.67	-65.2%
Average			-47.8%

Reykjavik vs. Traverse City - Cost of clothing

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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: April 2026

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