Cost of living in Iceland

Are you moving to Iceland? Do you know how much money you will need there to maintain your current standard of living?

Find out what is the real equivalent in Iceland of your current salary and improve your chances of a happy relocation.

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Food
Basic lunchtime menu (including a drink) in the business district 2,631 kr
Combo meal in fast food restaurant (Big Mac Meal or similar) 1,757 kr
500 gr (1 lb.) of boneless chicken breast 1,138 kr
1 liter (1 qt.) of whole fat milk 161 kr
12 eggs, large 797 kr
1 kg (2 lb.) of tomatoes 625 kr
500 gr (16 oz.) of local cheese 1,147 kr
1 kg (2 lb.) of apples 479 kr
1 kg (2 lb.) of potatoes 371 kr
0.5 l (16 oz) domestic beer in the supermarket 393 kr
1 bottle of red table wine, good quality 2,917 kr
2 liters of Coca-Cola 290 kr
Bread for 2 people for 1 day 331 kr
Housing
Monthly rent for 85 m2 (900 Sqft) furnished accommodation in EXPENSIVE area 260,225 kr
Monthly rent for 85 m2 (900 Sqft) furnished accommodation in NORMAL area 241,367 kr
Utilities 1 month (heating, electricity, gas ...) for 2 people in 85m2 flat 12,235 kr
Monthly rent for a 45 m2 (480 Sqft) furnished studio in EXPENSIVE area 210,487 kr
Monthly rent for a 45 m2 (480 Sqft) furnished studio in NORMAL area 162,053 kr
Utilities 1 month (heating, electricity, gas ...) for 1 person in 45 m2 (480 Sqft) studio 22,017 kr
Internet 8 Mbps (1 month) 6,670 kr
40” flat screen TV 85,746 kr
Microwave 800/900 Watt (Bosch, Panasonic, LG, Sharp, or equivalent brands) 20,510 kr
Laundry detergent (3 l. ~ 100 oz.) 1,804 kr
Hourly rate for cleaning help 3,491 kr
Clothes
1 pair of jeans (Levis 501 or similar) 15,967 kr
1 summer dress in a High Street Store (Zara, H&M or similar retailers) 9,525 kr
1 pair of sport shoes (Nike, Adidas, or equivalent brands) 19,996 kr
1 pair of men’s leather business shoes 28,733 kr
Transportation
Volkswagen Golf 1.4 TSI 150 CV (or equivalent), with no extras, new 3,426,470 kr
1 liter (1/4 gallon) of gas 215 kr
Monthly ticket public transport 11,490 kr
Personal Care
Cold medicine for 6 days (Tylenol, Frenadol, Coldrex, or equivalent brands) 1,711 kr
1 box of antibiotics (12 doses) 1,601 kr
Short visit to private Doctor (15 minutes) 4,541 kr
1 box of 32 tampons (Tampax, OB, ...) 498 kr
Deodorant, roll-on (50ml ~ 1.5 oz.) 622 kr
Hair shampoo 2-in-1 (400 ml ~ 12 oz.) 967 kr
4 rolls of toilet paper 571 kr
Tube of toothpaste 350 kr
Standard men's haircut in expat area of the city 5,582 kr
Entertainment
Basic dinner out for two in neighborhood pub 6,466 kr
2 tickets to the movies 3,094 kr
2 tickets to the theater (best available seats) 11,063 kr
Dinner for two at an Italian restaurant in the expat area including appetisers, main course, wine and dessert 9,252 kr
1 cocktail drink in downtown club 2,428 kr
Cappuccino in expat area of the city 655 kr
1 beer in neighbourhood pub (500ml or 1pt.) 1,090 kr
iPad Wi-Fi 128GB 84,869 kr
1 min. of prepaid mobile tariff (no discounts or plans) 64 kr
1 month of gym membership in business district 8,232 kr
1 package of Marlboro cigarettes 1,454 kr

Map of Cost of Living in Iceland

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This map shows only the top cities in Iceland. We also have on this page a list of all the cities available in Expatistan.

The color of each marker corresponds with the Cost of Living in the city. Red markers show more expensive cities, green ones show cheaper cities.
Moving the mouse on top of a city will show its name and the Cost of Living Index of that city.

What is the Cost of Living Index? To calculate each city's Price Index value, we start by assigning a value of 100 to a central reference city (that happens to be Prague). Once the reference point has been established, the Price Index value of every other city in the database is calculated by comparing their cost of living to the cost of living in Prague.
Therefore, if a city has a Price Index of 134, that means that living there is 34% more expensive than living in Prague.

Are you moving to Iceland? Do you know how much money you will need there to maintain your current standard of living?

Find out what is the real equivalent in Iceland of your current salary and improve your chances of a happy relocation.

Get a salary calculation for:

List of all cities available in Iceland

Reykjavik

Prices recently added

  • 1 liter of gasoline in Reykjavik costs 34 kr (3 days ago)
  • 1 liter of gasoline in Reykjavik costs 34 kr (3 days ago)
  • Internet connection 300 mbps, 1 month in Reykjavik costs 3,000 kr (10 days ago)