Cost of living in Reykjavik, Iceland vs Melbourne, Australia
Currency:
| Food | + 46% | |||
|---|---|---|---|---|
| Food in Reykjavik (Iceland) is 46% more expensive than in Melbourne (Australia) | ||||
| Basic lunchtime menu (including a drink) in the business district | 3,127 kr (AU$32) | AU$18 | + 81% | |
| Combo meal in fast food restaurant (big mac meal or similar) | 1,806 kr (AU$18) | AU$12 | + 55% | |
| 500 gr (1 lb.) of boneless chicken breast | 1,180 kr (AU$12) | AU$5.27 | + 128% | |
| 1 liter (1 qt.) of whole fat milk | 172 kr (AU$1.76) | AU$1.48 | + 19% | |
| 12 eggs, large | 788 kr (AU$8) | AU$5.06 | + 59% | |
| 1 kg (2 lb.) of tomatoes | 578 kr (AU$5.89) | AU$4.83 | + 22% | |
| 500 gr (16 oz.) of local cheese | 1,023 kr (AU$10) | AU$6 | + 61% | |
| 1 kg (2 lb.) of apples | 447 kr (AU$4.55) | AU$4.57 | - 0% | |
| 1 kg (2 lb.) of potatoes | 375 kr (AU$3.82) | AU$3.19 | + 20% | |
| 0.5 l (16 oz) domestic beer in the supermarket | 399 kr (AU$4.07) | AU$5.70 | - 29% | |
| 1 bottle of red table wine, good quality | 3,367 kr (AU$34) | AU$17 | + 103% | |
| 2 liters of coca-cola | 321 kr (AU$3.27) | AU$2.80 | + 17% | |
| Bread for 2 people for 1 day | 327 kr (AU$3.33) | AU$2.67 | + 25% | |
| Housing | + 12% | |||
| Housing in Reykjavik (Iceland) is 12% more expensive than in Melbourne (Australia) | ||||
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in expensive area | 261,838 kr (AU$2,669) | AU$2,894 | - 8% | |
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in normal area | 232,894 kr (AU$2,374) | AU$2,147 | + 11% | |
| Utilities 1 month (heating, electricity, gas ...) for 2 people in 85m2 flat | 18,704 kr (AU$191) | AU$238 | - 20% | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in expensive area | 191,469 kr (AU$1,952) | AU$1,809 | + 8% | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in normal area | 155,726 kr (AU$1,587) | AU$1,422 | + 12% | |
| Utilities 1 month (heating, electricity, gas ...) for 1 person in 45 m2 (480 sqft) studio | 13,134 kr (AU$134) | AU$159 | - 16% | |
| Internet 8 mbps (1 month) | 7,440 kr (AU$76) | AU$46 | + 64% | |
| 40” flat screen tv | 101,511 kr (AU$1,035) | AU$354 | + 192% | |
| Microwave 800/900 watt (bosch, panasonic, lg, sharp, or equivalent brands) | 24,102 kr (AU$246) | AU$212 | + 16% | |
| Laundry detergent (3 l. ~ 100 oz.) | 1,913 kr (AU$20) | AU$12 | + 65% | |
| Hourly rate for cleaning help | 4,327 kr (AU$44) | AU$28 | + 60% | |
| Clothes | + 62% | |||
| Clothes in Reykjavik (Iceland) is 62% more expensive than in Melbourne (Australia) | ||||
| 1 pair of jeans (levis 501 or similar) | 17,416 kr (AU$178) | AU$101 | + 76% | |
| 1 summer dress in a high street store (zara, h&m or similar retailers) | 8,404 kr (AU$86) | AU$59 | + 45% | |
| 1 pair of sport shoes (nike, adidas, or equivalent brands) | 21,041 kr (AU$214) | AU$129 | + 67% | |
| 1 pair of men’s leather business shoes | 27,448 kr (AU$280) | AU$131 | + 113% | |
| Transportation | + 1% | |||
| Transportation in Reykjavik (Iceland) is about the same as in Melbourne (Australia) | ||||
| Volkswagen golf 1.4 tsi 150 cv (or equivalent), with no extras, new | 3,711,350 kr (AU$37,834) | AU$27,303 | + 39% | |
| 1 liter (1/4 gallon) of gas | 231 kr (AU$2.35) | AU$1.38 | + 70% | |
| Monthly ticket public transport | 12,980 kr (AU$132) | AU$160 | - 17% | |
| Taxi trip on a business day, basic tariff, 8 km. (5 miles) | 3,332 kr (AU$34) | AU$21 | + 60% | |
| Personal Care | + 27% | |||
| Personal Care in Reykjavik (Iceland) is 27% more expensive than in Melbourne (Australia) | ||||
| Cold medicine for 6 days (tylenol, frenadol, coldrex, or equivalent brands) | 1,366 kr (AU$14) | AU$7 | + 93% | |
| 1 box of antibiotics (12 doses) | 2,029 kr (AU$21) | AU$24 | - 14% | |
| Short visit to private doctor (15 minutes) | 5,604 kr (AU$57) | AU$72 | - 20% | |
| 1 box of 32 tampons (tampax, ob, ...) | 661 kr (AU$7) | AU$7 | - 2% | |
| Deodorant, roll-on (50ml ~ 1.5 oz.) | 604 kr (AU$6) | AU$4.31 | + 43% | |
| Hair shampoo 2-in-1 (400 ml ~ 12 oz.) | 667 kr (AU$7) | AU$5.32 | + 28% | |
| 4 rolls of toilet paper | 480 kr (AU$4.89) | AU$2.55 | + 92% | |
| Tube of toothpaste | 414 kr (AU$4.22) | AU$3.01 | + 40% | |
| Standard men's haircut in expat area of the city | 5,775 kr (AU$59) | AU$36 | + 64% | |
| Entertainment | + 8% | |||
| Entertainment in Reykjavik (Iceland) is 8% more expensive than in Melbourne (Australia) | ||||
| Basic dinner out for two in neighborhood pub | 7,167 kr (AU$73) | AU$51 | + 43% | |
| 2 tickets to the movies | 3,144 kr (AU$32) | AU$39 | - 18% | |
| 2 tickets to the theater (best available seats) | 12,001 kr (AU$122) | AU$226 | - 46% | |
| Dinner for two at an italian restaurant in the expat area including appetisers, main course, wine and dessert | 11,714 kr (AU$119) | AU$78 | + 54% | |
| 1 cocktail drink in downtown club | 2,559 kr (AU$26) | AU$16 | + 67% | |
| Cappuccino in expat area of the city | 687 kr (AU$7) | AU$4.40 | + 59% | |
| 1 beer in neighbourhood pub (500ml or 1pt.) | 1,111 kr (AU$11) | AU$10 | + 14% | |
| Ipad wi-fi 128gb | 85,553 kr (AU$872) | AU$634 | + 38% | |
| 1 min. of prepaid mobile tariff (no discounts or plans) | 20 kr (AU$0.21) | AU$0.25 | - 16% | |
| 1 month of gym membership in business district | 8,187 kr (AU$83) | AU$72 | + 17% | |
| 1 package of marlboro cigarettes | 1,463 kr (AU$15) | AU$33 | - 55% | |
| TOTAL | + 17% | |||
This comparison has some inconsistent or sparse data. It already provides a reliable comparison but it is not bullet-proof. It is based on 1,123 prices entered by 150 different people.
These prices were last updated on February 28, 2021.
Exchange rate:
0.01019
AUD
/
ISK
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Cost of living in Reykjavik (Iceland) is 17% more expensive than in Melbourne (Australia)
For example, you would need at least AU$10,539 (1,033,790 kr) in Reykjavik to maintain the same standard of living that you can have with AU$9,000 in Melbourne.
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