Cost of living in Reykjavik, Iceland

Summary of cost of living in Reykjavik

  • Family of four estimated monthly costs: 707,325 kr
  • Single person estimated monthly costs: 369,561 kr
  • Cost of living in Reykjavik is more expensive than in 91% of cities in Western Europe (7 out of 64)
  • Cost of living in Reykjavik is more expensive than in 94% of cities in the World (16 out of 266)

List of prices in Reykjavik, Iceland. Current as of Feb 2020.

Change the currency:
Food [Edit]
Basic lunchtime menu (including a drink) in the business district 2,732 kr
Combo meal in fast food restaurant (big mac meal or similar) 1,895 kr
500 gr (1 lb.) of boneless chicken breast 1,250 kr
1 liter (1 qt.) of whole fat milk 154 kr
12 eggs, large 773 kr
1 kg (2 lb.) of tomatoes 547 kr
500 gr (16 oz.) of local cheese 1,131 kr
1 kg (2 lb.) of apples 448 kr
1 kg (2 lb.) of potatoes 374 kr
0.5 l (16 oz) domestic beer in the supermarket 394 kr
1 bottle of red table wine, good quality 3,109 kr
2 liters of coca-cola 314 kr
Bread for 2 people for 1 day 305 kr
Housing [Edit]
Monthly rent for 85 m2 (900 sqft) furnished accommodation in expensive area 260,744 kr
Monthly rent for 85 m2 (900 sqft) furnished accommodation in normal area 243,118 kr
Utilities 1 month (heating, electricity, gas ...) for 2 people in 85m2 flat 17,186 kr
Monthly rent for a 45 m2 (480 sqft) furnished studio in expensive area 190,908 kr
Monthly rent for a 45 m2 (480 sqft) furnished studio in normal area 164,431 kr
Utilities 1 month (heating, electricity, gas ...) for 1 person in 45 m2 (480 sqft) studio 11,102 kr
Internet 8 mbps (1 month) 6,468 kr
40” flat screen tv 86,615 kr
Microwave 800/900 watt (bosch, panasonic, lg, sharp, or equivalent brands) 22,343 kr
Laundry detergent (3 l. ~ 100 oz.) 1,911 kr
Hourly rate for cleaning help 3,885 kr
Clothes [Edit]
1 pair of jeans (levis 501 or similar) 16,589 kr
1 summer dress in a high street store (zara, h&m or similar retailers) 8,132 kr
1 pair of sport shoes (nike, adidas, or equivalent brands) 20,647 kr
1 pair of men’s leather business shoes 26,525 kr
Transportation [Edit]
Volkswagen golf 1.4 tsi 150 cv (or equivalent), with no extras, new 3,672,550 kr
1 liter (1/4 gallon) of gas 230 kr
Monthly ticket public transport 12,731 kr
Taxi trip on a business day, basic tariff, 8 km. (5 miles) 3,329 kr
Personal Care [Edit]
Cold medicine for 6 days (tylenol, frenadol, coldrex, or equivalent brands) 1,353 kr
1 box of antibiotics (12 doses) 1,851 kr
Short visit to private doctor (15 minutes) 5,686 kr
1 box of 32 tampons (tampax, ob, ...) 678 kr
Deodorant, roll-on (50ml ~ 1.5 oz.) 598 kr
Hair shampoo 2-in-1 (400 ml ~ 12 oz.) 1,089 kr
4 rolls of toilet paper 440 kr
Tube of toothpaste 398 kr
Standard men's haircut in expat area of the city 5,753 kr
Entertainment [Edit]
Basic dinner out for two in neighborhood pub 6,265 kr
2 tickets to the movies 3,061 kr
2 tickets to the theater (best available seats) 11,427 kr
Dinner for two at an italian restaurant in the expat area including appetisers, main course, wine and dessert 11,482 kr
1 cocktail drink in downtown club 2,451 kr
Cappuccino in expat area of the city 677 kr
1 beer in neighbourhood pub (500ml or 1pt.) 1,141 kr
Ipad wi-fi 128gb 84,141 kr
1 min. of prepaid mobile tariff (no discounts or plans) 20 kr
1 month of gym membership in business district 8,633 kr
1 package of marlboro cigarettes 1,429 kr
These prices are based on abundant and consistent data. They are very reliable. They are based on 164 prices entered by 32 different people.
Latest price update: February 26, 2020

Reykjavik position in our World Ranking

the world
16th
out of 266
western europe
7th
out of 64

Cheapest and most expensive products in Reykjavik compared to other cities:

the world
1st
the world
1st
the world
2nd
the world
2nd
the world
3rd
the world
4th

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