Cost of living in Reykjavik, Iceland

Summary of cost of living in Reykjavik

  • Family of four estimated monthly costs: 716,721 kr
  • Single person estimated monthly costs: 368,286 kr
  • WARNING!  These estimates are based on data that may have some inconsistencies at the moment. They already provide a decent estimate but they are not currently bullet-proof.
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List of prices in Reykjavik, Iceland. Current as of Mar 2021.

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Food [Edit]
Basic lunchtime menu (including a drink) in the business district 3,127 kr
Combo meal in fast food restaurant (big mac meal or similar) 1,806 kr
500 gr (1 lb.) of boneless chicken breast 1,180 kr
1 liter (1 qt.) of whole fat milk 172 kr
12 eggs, large 788 kr
1 kg (2 lb.) of tomatoes 578 kr
500 gr (16 oz.) of local cheese 1,023 kr
1 kg (2 lb.) of apples 447 kr
1 kg (2 lb.) of potatoes 375 kr
0.5 l (16 oz) domestic beer in the supermarket 399 kr
1 bottle of red table wine, good quality 3,367 kr
2 liters of coca-cola 321 kr
Bread for 2 people for 1 day 327 kr
Housing [Edit]
Monthly rent for 85 m2 (900 sqft) furnished accommodation in expensive area 261,838 kr
Monthly rent for 85 m2 (900 sqft) furnished accommodation in normal area 232,894 kr
Utilities 1 month (heating, electricity, gas ...) for 2 people in 85m2 flat 18,704 kr
Monthly rent for a 45 m2 (480 sqft) furnished studio in expensive area 191,469 kr
Monthly rent for a 45 m2 (480 sqft) furnished studio in normal area 155,726 kr
Utilities 1 month (heating, electricity, gas ...) for 1 person in 45 m2 (480 sqft) studio 13,134 kr
Internet 8 mbps (1 month) 7,440 kr
40” flat screen tv 101,511 kr
Microwave 800/900 watt (bosch, panasonic, lg, sharp, or equivalent brands) 24,102 kr
Laundry detergent (3 l. ~ 100 oz.) 1,913 kr
Hourly rate for cleaning help 4,327 kr
Clothes [Edit]
1 pair of jeans (levis 501 or similar) 17,416 kr
1 summer dress in a high street store (zara, h&m or similar retailers) 8,404 kr
1 pair of sport shoes (nike, adidas, or equivalent brands) 21,041 kr
1 pair of men’s leather business shoes 27,448 kr
Transportation [Edit]
Volkswagen golf 1.4 tsi 150 cv (or equivalent), with no extras, new 3,711,350 kr
1 liter (1/4 gallon) of gas 231 kr
Monthly ticket public transport 12,980 kr
Taxi trip on a business day, basic tariff, 8 km. (5 miles) 3,332 kr
Personal Care [Edit]
Cold medicine for 6 days (tylenol, frenadol, coldrex, or equivalent brands) 1,366 kr
1 box of antibiotics (12 doses) 2,029 kr
Short visit to private doctor (15 minutes) 5,604 kr
1 box of 32 tampons (tampax, ob, ...) 661 kr
Deodorant, roll-on (50ml ~ 1.5 oz.) 604 kr
Hair shampoo 2-in-1 (400 ml ~ 12 oz.) 667 kr
4 rolls of toilet paper 480 kr
Tube of toothpaste 414 kr
Standard men's haircut in expat area of the city 5,775 kr
Entertainment [Edit]
Basic dinner out for two in neighborhood pub 7,167 kr
2 tickets to the movies 3,144 kr
2 tickets to the theater (best available seats) 12,001 kr
Dinner for two at an italian restaurant in the expat area including appetisers, main course, wine and dessert 11,714 kr
1 cocktail drink in downtown club 2,559 kr
Cappuccino in expat area of the city 687 kr
1 beer in neighbourhood pub (500ml or 1pt.) 1,111 kr
Ipad wi-fi 128gb 85,553 kr
1 min. of prepaid mobile tariff (no discounts or plans) 20 kr
1 month of gym membership in business district 8,187 kr
1 package of marlboro cigarettes 1,463 kr
Some of these prices have some inconsistencies. They already provide a reliable comparison but they are not bullet-proof. They are based on 119 prices entered by 10 different people.
Latest price update: March 01, 2021

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Volkswagen Golf 1.4 TSI 150 CV (or equivalent), with no extras, new

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