Cost of Living in Iceland

Summary:

• Family of four estimated monthly costs are 57.521.43$(567,986.70kr) without rent.
• A single person estimated monthly costs are 15.605.06(154,089.77kr) without rent.

Restaurants		Range
Meal, Inexpensive Restaurant	2,500.00 kr	1,590.00–4,815.28
Meal for 2 People, Mid-range Restaurant, Three-course	12,000.00 kr	9,500.00–23,000.00
McMeal at McDonalds (or Equivalent Combo Meal)	1,889.50 kr	1,600.00–2,338.85
Domestic Beer (0.5 liter draught)	1,160.00 kr	800.00–1,500.00
Imported Beer (0.33 liter bottle)	1,000.00 kr	783.36–1,500.00
Cappuccino (regular)	594.84 kr	350.00–900.00
Coke/Pepsi (0.33 liter bottle)	321.86 kr	200.00–481.53
Water (0.33 liter bottle)	266.84 kr	200.00–400.00
Markets
Milk (regular), (1 liter)	186.94 kr	155.00–240.00
Loaf of Fresh White Bread (500g)	399.00 kr	280.00–900.00
Rice (white), (1kg)	387.86 kr	235.00–1,000.00
Eggs (regular) (12)	687.05 kr	516.00–957.60
Local Cheese (1kg)	1,786.18 kr	1,054.00–3,000.00
Chicken Fillets (1kg)	2,140.28 kr	1,799.00–2,599.00
Beef Round (1kg) (or Equivalent Back Leg Red Meat)	3,230.56 kr	1,999.00–4,000.00
Apples (1kg)	357.61 kr	250.00–500.00
Banana (1kg)	315.38 kr	236.00–500.00
Oranges (1kg)	320.54 kr	269.00–571.00
Tomato (1kg)	538.93 kr	287.84–800.00
Potato (1kg)	307.77 kr	195.00–459.00
Onion (1kg)	164.93 kr	100.00–350.00
Lettuce (1 head)	338.33 kr	200.00–400.00
Water (1.5 liter bottle)	255.85 kr	150.00–500.00
Bottle of Wine (Mid-Range)	2,500.00 kr	2,000.00–3,590.00
Domestic Beer (0.5 liter bottle)	404.12 kr	300.00–550.00
Imported Beer (0.33 liter bottle)	370.71 kr	300.00–500.00
Cigarettes 20 Pack (Marlboro)	1,500.00 kr	1,399.00–1,990.00
Transportation
One-way Ticket (Local Transport)	490.00 kr	450.00–500.00
Monthly Pass (Regular Price)	12,000.00 kr	0.00–13,300.00
Taxi Start (Normal Tariff)	740.00 kr	690.00–1,200.00
Taxi 1km (Normal Tariff)	331.00 kr	242.00–486.00
Taxi 1hour Waiting (Normal Tariff)	7,920.00 kr	7,920.00–8,340.00
Gasoline (1 liter)	250.93 kr	216.90–295.00
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car)	3,990,000.00 kr	3,600,000.00–4,400,000.00
Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car)	4,385,882.35 kr	3,800,000.00–5,280,000.00
Utilities (Monthly)
Basic (Electricity, Heating, Cooling, Water, Garbage) for 85m2 Apartment	15,348.89 kr	7,437.50–24,285.71
1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans)	20.57 kr	10.00–27.00
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL)	9,461.96 kr	7,000.00–13,000.00
Sports And Leisure
Fitness Club, Monthly Fee for 1 Adult	8,635.03 kr	6,800.00–14,500.00
Tennis Court Rent (1 Hour on Weekend)	4,625.77 kr	3,000.00–6,000.00
Cinema, International Release, 1 Seat	1,700.00 kr	1,400.00–2,500.00
Childcare
Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child	37,950.50 kr	30,000.00–50,000.00
International Primary School, Yearly for 1 Child	737,333.33 kr	300,000.00–1,250,000.00
Clothing And Shoes
1 Pair of Jeans (Levis 501 Or Similar)	15,539.20 kr	10,000.00–20,000.00
1 Summer Dress in a Chain Store (Zara, H&M, …)	7,946.84 kr	3,000.00–12,000.00
1 Pair of Nike Running Shoes (Mid-Range)	20,855.22 kr	13,000.00–25,000.00
1 Pair of Men Leather Business Shoes	25,469.50 kr	18,000.00–32,000.00
Rent Per Month
Apartment (1 bedroom) in City Centre	181,333.33 kr	130,000.00–250,000.00
Apartment (1 bedroom) Outside of Centre	146,634.40 kr	100,000.00–210,000.00
Apartment (3 bedrooms) in City Centre	257,844.73 kr	200,000.00–320,000.00
Apartment (3 bedrooms) Outside of Centre	223,421.04 kr	180,000.00–290,000.00
Buy Apartment Price
Price per Square Meter to Buy Apartment in City Centre	635,887.38 kr	390,000.00–1,000,000.00
Price per Square Meter to Buy Apartment Outside of Centre	483,424.68 kr	350,000.00–720,000.00
Salaries And Financing
Average Monthly Net Salary (After Tax)	436,093.22 kr
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate	5.10	3.20–6.50

Prices in Iceland