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 2,552 kr
Combo meal in fast food restaurant (Big Mac Meal or similar) 1,781 kr
500 gr (1 lb.) of boneless chicken breast 1,204 kr
1 liter (1 qt.) of whole fat milk 163 kr
12 eggs, large 815 kr
1 kg (2 lb.) of tomatoes 583 kr
500 gr (16 oz.) of local cheese 1,256 kr
1 kg (2 lb.) of apples 474 kr
1 kg (2 lb.) of potatoes 439 kr
0.5 l (16 oz) domestic beer in the supermarket 389 kr
1 bottle of red table wine, good quality 3,290 kr
2 liters of Coca-Cola 291 kr
Bread for 2 people for 1 day 317 kr
Housing
Monthly rent for 85 m2 (900 Sqft) furnished accommodation in EXPENSIVE area 259,220 kr
Monthly rent for 85 m2 (900 Sqft) furnished accommodation in NORMAL area 238,590 kr
Utilities 1 month (heating, electricity, gas ...) for 2 people in 85m2 flat 21,982 kr
Monthly rent for a 45 m2 (480 Sqft) furnished studio in EXPENSIVE area 217,713 kr
Monthly rent for a 45 m2 (480 Sqft) furnished studio in NORMAL area 172,742 kr
Utilities 1 month (heating, electricity, gas ...) for 1 person in 45 m2 (480 Sqft) studio 34,139 kr
Internet 8 Mbps (1 month) 6,689 kr
40” flat screen TV 119,687 kr
Microwave 800/900 Watt (Bosch, Panasonic, LG, Sharp, or equivalent brands) 25,325 kr
Laundry detergent (3 l. ~ 100 oz.) 1,925 kr
Hourly rate for cleaning help 3,939 kr
Clothes
1 pair of jeans (Levis 501 or similar) 17,230 kr
1 summer dress in a High Street Store (Zara, H&M or similar retailers) 9,557 kr
1 pair of sport shoes (Nike, Adidas, or equivalent brands) 22,522 kr
1 pair of men’s leather business shoes 29,745 kr
Transportation
Volkswagen Golf 1.4 TSI 150 CV (or equivalent), with no extras, new 3,380,810 kr
1 liter (1/4 gallon) of gas 219 kr
Monthly ticket public transport 11,153 kr
Personal Care
Cold medicine for 6 days (Tylenol, Frenadol, Coldrex, or equivalent brands) 1,355 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.) 596 kr
Hair shampoo 2-in-1 (400 ml ~ 12 oz.) 866 kr
4 rolls of toilet paper 516 kr
Tube of toothpaste 363 kr
Standard men's haircut in expat area of the city 5,848 kr
Entertainment
Basic dinner out for two in neighborhood pub 6,195 kr
2 tickets to the movies 3,112 kr
2 tickets to the theater (best available seats) 9,290 kr
Dinner for two at an Italian restaurant in the expat area including appetisers, main course, wine and dessert 11,185 kr
1 cocktail drink in downtown club 2,381 kr
Cappuccino in expat area of the city 647 kr
1 beer in neighbourhood pub (500ml or 1pt.) 1,089 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 7,414 kr
1 package of Marlboro cigarettes 1,429 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:
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

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