🇮🇸 Cost of living and prices in Iceland, prices of food, rent, shopping, etc. Updated Apr 2021

Iceland is country located in Northern Europe. Iceland covers an area of 103,000 square kilometres. Iceland has a population of 308,910 and a population density of 3.0 people per square kilometre. The official language of Iceland is Icelandic. Iceland gross domestic product (GDP) is $14,590,000,000. GDP per capita is $ 47231. The currency in Iceland is Icelandic króna. Top level domains in Iceland: .is

Estimated cost of living for a month without rent

2025.15 USD

Total cost of living for two person with average consumption for one month will be 2025.15 USD, no rent price included. Click here to calculate cost-of-living estimate in Iceland

Cost of Living Estimate

You can calculate cost of living by changing quantity using input near each good or service. Resulting total will appear in a floating box in the bottom of your screen.

Restaurants prices

Meal in Inexpensive Restaurant
17.27 $
Meal for 2 People, Mid-range Restaurant, Three-course
94.17 $
McMeal at McDonalds or Alternative Combo Meal
12.55 $
Domestic Beer, 0.5 liter Draught
8.63 $
Imported Beer, 0.33 liter Bottle
7.84 $
Cappuccino
4.14 $
Coca-Cola, 0.33 liter Bottle
2.26 $

Markets prices

Water, 0.33 liter Bottle
1.74 $
Milk, Regular,1 liter
1.19 $
Loaf of Fresh White Bread, 0.5 kg
2.84 $
White Rice, 1 kg
2.79 $
Eggs, 12 pack
4.80 $
Local Cheese, 1 kg
12.90 $
Chicken Breasts, Boneless and Skinless, 1 kg
16.51 $
Beef Round or Equivalent Back Leg Red Meat, 1 kg
24.51 $
Apples, 1 kg
2.40 $
Banana, 1 kg
2.17 $
Oranges, 1 kg
2.45 $
Tomato, 1 kg
4.02 $
Potato, 1 kg
2.20 $
Onion, 1 kg
1.31 $
Lettuce, 1 head
2.42 $
Water, 1.5 liter Bottle
1.91 $
Bottle of Wine, Mid-Range Price
19.63 $
Domestic Beer, 0.5 liter Bottle
3.09 $
Imported Beer, 0.33 liter Bottle
2.82 $
Pack of Cigarettes
10.20 $

Transportation prices

One-way Ticket, Local Transport
3.46 $
Monthly Pass, Regular Price
92.22 $
Taxi Start, Normal Tariff
5.42 $
Taxi, price for 1 km, Normal Tariff
2.36 $
Taxi, price for 1 hour Waiting, Normal Tariff
58.39 $
Gasoline, 1 liter
1.54 $
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car)
25,898.04 $
Honda Civic 1.6 Or Alternative New Car
27,946.35 $

Utilities Per Month prices

Basic utilities for 85m2 Apartment including Electricity, Heating or Cooling, Water and Garbage
95.97 $
Prepaid Mobile Tariff Local, price per 1 min, No Discounts or Plans
0.16 $
Internet, 60 Mbps or More, Unlimited Data, Cable/ADSL
50.25 $

Sports And Leisure prices

Fitness Club, Monthly Fee for 1 Adult
62.09 $
Tennis Court Rent, 1 Hour on Weekend
24.69 $

Salaries And Financing prices

Cinema ticket, 1 Seat
11.69 $
Average Monthly Net Salary, After Tax
2,513.87 $
Mortgage Interest Rate in Percentages for 20 Years Fixed-Rate, Yearly, Fixed-Rate
0 %

Childcare prices

Private Preschool or Kindergarten, Monthly for 1 Child
283.65 $
International Primary School, Yearly for 1 Child
18,834.94 $

Clothing And Shoes prices

Pair of Jeans in a Chain Store Like George, H&M, Zara, etc.
122.55 $
Summer Dress in a Chain Store Like George, H&M, Zara, etc.
73.89 $
Pair of Running Shoes, Mid-Range Price
144.24 $
Pair of Leather Business Shoes
195.89 $

Rent Per Month prices

One bedroom apartment in city centre
1,346.01 $
One bedroom apartment outside of city centre
1,077.17 $
Three bedroom apartment in city centre
2,070.64 $
Three bedroom apartment outside of city centre
1,726.54 $

Buy Apartment prices

Price per m2 to Buy Apartment in City Center
4,167.53 $
Price per m2 to Buy Apartment Outside of City Center
3,031.40 $