Northern Europe Updated
Average Cost of Living in Reykjavik-Iceland
The average cost of living in Reykjavik-Iceland, Iceland is $2,634 per month for a single person, and $4,984 per month for a family of four. A one-bedroom apartment rents for around $2,429 per month. The local average net salary is $4,472 per month.
Affordable
Updated today
Index 59.9 · NYC = 100
Estimated monthly cost
- Single person
- $2,634 / month
- Family of 4
- $4,984 / mo
- Student
- $1,540 / mo
Includes rent, food, utilities, transport, and dining out. Excludes healthcare, taxes, and discretionary travel.
Salary that covers life in Reykjavik-Iceland
Adjust the household and see the gap or surplus vs. typical local pay.
Interactive
You need at least
$0 / month
Annual gross (25% tax)
$0
vs. local average net salary
$4,471.86 / month
On this page 11 sections
| Section | Description |
|---|---|
| Salary calculator for Reykjavik-Iceland | Find out the monthly salary needed for a single, family, or student lifestyle. |
| Rent & Property Prices in Reykjavik-Iceland | Apartment rent and property purchase price per square meter. |
| Grocery Prices in Reykjavik-Iceland | Supermarket prices for staples like bread, milk, produce, and meat. |
| Public Transport & Car Costs in Reykjavik-Iceland | Public transport tickets, taxi fares, fuel, and vehicle prices. |
| Utility & Internet Costs in Reykjavik-Iceland | Monthly electricity, heating, water, mobile, and broadband bills. |
| Childcare & Preschool in Reykjavik-Iceland | Preschool fees and international school tuition. |
| Clothing Prices in Reykjavik-Iceland | Jeans, dresses, running shoes, and leather shoes from chain stores. |
| Gym, Cinema & Leisure in Reykjavik-Iceland | Gym memberships, tennis court rentals, and cinema tickets. |
| Restaurant Prices in Reykjavik-Iceland | Meals at inexpensive and mid-range restaurants, coffee, and soft drinks. |
| Salaries & Mortgages in Reykjavik-Iceland | Average monthly net salary and mortgage interest rates. |
| Reykjavik-Iceland FAQs | Common questions about rent, salaries, food, and transport in Reykjavik-Iceland. |
Rent & Property Prices in Reykjavik-Iceland
Apartment rent and property purchase price per square meter.
| Item | Median | Range (low–high) |
|---|---|---|
| 1 Bedroom Apartment in City Centre | $2,429 | $2,201 – $2,854 |
| 1 Bedroom Apartment Outside of City Centre | $1,985 | $1,525 – $2,446 |
| 3 Bedroom Apartment in City Centre | $3,433 | $3,017 – $4,484 |
| 3 Bedroom Apartment Outside of City Centre | $2,707 | $2,446 – $2,854 |
| Price per Square Meter to Buy Apartment in City Centre | $7,938 | $6,982 – $8,969 |
| Price per Square Meter to Buy Apartment Outside of Centre | $6,309 | $5,707 – $7,338 |
- 1 Bedroom Apartment in City Centre $2,429$2,201 – $2,854
- 1 Bedroom Apartment Outside of City Centre $1,985$1,525 – $2,446
- 3 Bedroom Apartment in City Centre $3,433$3,017 – $4,484
- 3 Bedroom Apartment Outside of City Centre $2,707$2,446 – $2,854
- Price per Square Meter to Buy Apartment in City Centre $7,938$6,982 – $8,969
- Price per Square Meter to Buy Apartment Outside of Centre $6,309$5,707 – $7,338
Grocery Prices in Reykjavik-Iceland
Supermarket prices for staples like bread, milk, produce, and meat.
| Item | Median | Range (low–high) |
|---|---|---|
| Milk (Regular, 1 Liter) | $2.02 | $1.63 – $2.69 |
| Fresh White Bread (500 g Loaf) | $4.40 | $2.85 – $6.93 |
| White Rice (1 kg) | $3.52 | $2.85 – $5.71 |
| Eggs (12, Large Size) | $6.98 | $5.40 – $9.77 |
| Local Cheese (1 kg) | $20 | $17 – $24 |
| Chicken Fillets (1 kg) | $26 | $18 – $29 |
| Beef Round or Equivalent Back Leg Red Meat (1 kg) | $47 | $26 – $57 |
| Apples (1 kg) | $3.31 | $1.30 – $4.89 |
| Bananas (1 kg) | $2.66 | $2.27 – $8.44 |
| Oranges (1 kg) | $3.24 | $2.20 – $5.30 |
| Tomatoes (1 kg) | $5.81 | $3.51 – $7.74 |
| Potatoes (1 kg) | $3.53 | $2.04 – $4.57 |
| Onions (1 kg) | $1.83 | $1.43 – $2.45 |
| Lettuce (1 Head) | $2.79 | $1.83 – $4.65 |
| Bottled Water (1.5 Liter) | $1.80 | $1.62 – $2.45 |
| Bottle of Wine (Mid-Range) | $24 | $15 – $37 |
| Domestic Beer (0.5 Liter Bottle) | $3.80 | $3.19 – $5.71 |
| Imported Beer (0.33 Liter Bottle) | $3.58 | $2.60 – $4.16 |
| Cigarettes (Pack of 20, Marlboro) | $14 | $12 – $15 |
- Milk (Regular, 1 Liter) $2.02$1.63 – $2.69
- Fresh White Bread (500 g Loaf) $4.40$2.85 – $6.93
- White Rice (1 kg) $3.52$2.85 – $5.71
- Eggs (12, Large Size) $6.98$5.40 – $9.77
- Local Cheese (1 kg) $20$17 – $24
- Chicken Fillets (1 kg) $26$18 – $29
- Beef Round or Equivalent Back Leg Red Meat (1 kg) $47$26 – $57
- Apples (1 kg) $3.31$1.30 – $4.89
- Bananas (1 kg) $2.66$2.27 – $8.44
- Oranges (1 kg) $3.24$2.20 – $5.30
- Tomatoes (1 kg) $5.81$3.51 – $7.74
- Potatoes (1 kg) $3.53$2.04 – $4.57
- Onions (1 kg) $1.83$1.43 – $2.45
- Lettuce (1 Head) $2.79$1.83 – $4.65
- Bottled Water (1.5 Liter) $1.80$1.62 – $2.45
- Bottle of Wine (Mid-Range) $24$15 – $37
- Domestic Beer (0.5 Liter Bottle) $3.80$3.19 – $5.71
- Imported Beer (0.33 Liter Bottle) $3.58$2.60 – $4.16
- Cigarettes (Pack of 20, Marlboro) $14$12 – $15
Public Transport & Car Costs in Reykjavik-Iceland
Public transport tickets, taxi fares, fuel, and vehicle prices.
| Item | Median | Range (low–high) |
|---|---|---|
| One-Way Ticket (Local Transport) | $5.46 | $5.46 – $5.63 |
| Monthly Public Transport Pass (Regular Price) | $91 | $88 – $95 |
| Taxi Start (Standard Tariff) | $6.69 | $5.71 – $6.93 |
| Taxi 1 km (Standard Tariff) | $2.81 | $2.64 – $3.69 |
| Taxi 1 Hour Waiting (Standard Tariff) | $73 | $73 – $87 |
| Gasoline (1 Liter) | $2.35 | $1.75 – $2.61 |
| Volkswagen Golf 1.5 (or Equivalent New Compact Car) | $50,469 | $48,920 – $55,361 |
| Toyota Corolla Sedan 1.6 (or Equivalent New Mid-Size Car) | $53,159 | $52,996 – $53,404 |
- One-Way Ticket (Local Transport) $5.46$5.46 – $5.63
- Monthly Public Transport Pass (Regular Price) $91$88 – $95
- Taxi Start (Standard Tariff) $6.69$5.71 – $6.93
- Taxi 1 km (Standard Tariff) $2.81$2.64 – $3.69
- Taxi 1 Hour Waiting (Standard Tariff) $73$73 – $87
- Gasoline (1 Liter) $2.35$1.75 – $2.61
- Volkswagen Golf 1.5 (or Equivalent New Compact Car) $50,469$48,920 – $55,361
- Toyota Corolla Sedan 1.6 (or Equivalent New Mid-Size Car) $53,159$52,996 – $53,404
Utility & Internet Costs in Reykjavik-Iceland
Monthly electricity, heating, water, mobile, and broadband bills.
| Item | Median | Range (low–high) |
|---|---|---|
| Basic Utilities for 85 m2 Apartment (Electricity, Heating, Cooling, Water, Garbage) | $87 | $61 – $139 |
| Mobile Phone Plan (Monthly, with Calls and 10GB+ Data) | $31 | $24 – $41 |
| Broadband Internet (Unlimited Data, 60 Mbps or Higher) | $84 | $61 – $106 |
- Basic Utilities for 85 m2 Apartment (Electricity, Heating, Cooling, Water, Garbage) $87$61 – $139
- Mobile Phone Plan (Monthly, with Calls and 10GB+ Data) $31$24 – $41
- Broadband Internet (Unlimited Data, 60 Mbps or Higher) $84$61 – $106
Childcare & Preschool in Reykjavik-Iceland
Preschool fees and international school tuition.
| Item | Median | Range (low–high) |
|---|---|---|
| Private Full-Day Preschool or Kindergarten, Monthly Fee per Child | $1,016 | $282 – $2,230 |
| International Primary School, Annual Tuition per Child | $30,528 | $30,528 – $30,528 |
- Private Full-Day Preschool or Kindergarten, Monthly Fee per Child $1,016$282 – $2,230
- International Primary School, Annual Tuition per Child $30,528$30,528 – $30,528
Clothing Prices in Reykjavik-Iceland
Jeans, dresses, running shoes, and leather shoes from chain stores.
| Item | Median | Range (low–high) |
|---|---|---|
| Jeans (Levi's 501 or Similar) | $145 | $73 – $188 |
| Summer Dress in a Chain Store (e.g. Zara or H&M) | $66 | $33 – $122 |
| Nike Running Shoes (Mid-Range) | $176 | $106 – $261 |
| Men's Leather Business Shoes | $248 | $130 – $342 |
- Jeans (Levi's 501 or Similar) $145$73 – $188
- Summer Dress in a Chain Store (e.g. Zara or H&M) $66$33 – $122
- Nike Running Shoes (Mid-Range) $176$106 – $261
- Men's Leather Business Shoes $248$130 – $342
Gym, Cinema & Leisure in Reykjavik-Iceland
Gym memberships, tennis court rentals, and cinema tickets.
| Item | Median | Range (low–high) |
|---|---|---|
| Monthly Fitness Club Membership | $92 | $65 – $139 |
| Tennis Court Rental (1 Hour, Weekend) | $50 | $45 – $50 |
| Cinema Ticket (International Release) | $19 | $16 – $24 |
- Monthly Fitness Club Membership $92$65 – $139
- Tennis Court Rental (1 Hour, Weekend) $50$45 – $50
- Cinema Ticket (International Release) $19$16 – $24
Restaurant Prices in Reykjavik-Iceland
Meals at inexpensive and mid-range restaurants, coffee, and soft drinks.
| Item | Median | Range (low–high) |
|---|---|---|
| Meal at an Inexpensive Restaurant | $29 | $18 – $49 |
| Meal for Two at a Mid-Range Restaurant (Three Courses, Without Drinks) | $122 | $82 – $245 |
| Combo Meal at McDonald's (or Equivalent Fast-Food Meal) | $24 | $21 – $28 |
| Domestic Draft Beer (0.5 Liter) | $13 | $9.78 – $15 |
| Imported Beer (0.33 Liter Bottle) | $12 | $9.78 – $15 |
| Cappuccino (Regular Size) | $6.57 | $4.08 – $7.75 |
| Soft Drink (Coca-Cola or Pepsi, 0.33 Liter Bottle) | $3.16 | $2.24 – $4.08 |
| Bottled Water (0.33 Liter) | $2.89 | $2.04 – $4.08 |
- Meal at an Inexpensive Restaurant $29$18 – $49
- Meal for Two at a Mid-Range Restaurant (Three Courses, Without Drinks) $122$82 – $245
- Combo Meal at McDonald's (or Equivalent Fast-Food Meal) $24$21 – $28
- Domestic Draft Beer (0.5 Liter) $13$9.78 – $15
- Imported Beer (0.33 Liter Bottle) $12$9.78 – $15
- Cappuccino (Regular Size) $6.57$4.08 – $7.75
- Soft Drink (Coca-Cola or Pepsi, 0.33 Liter Bottle) $3.16$2.24 – $4.08
- Bottled Water (0.33 Liter) $2.89$2.04 – $4.08
Salaries & Mortgages in Reykjavik-Iceland
Average monthly net salary and mortgage interest rates.
| Item | Median | Range (low–high) |
|---|---|---|
| Average Monthly Net Salary (After Tax) | $4,472 | — |
| Annual Mortgage Interest Rate (20-Year Fixed, in %) | 8.63% | — |
- Average Monthly Net Salary (After Tax) $4,472
- Annual Mortgage Interest Rate (20-Year Fixed, in %) 8.63%
Compare Reykjavik-Iceland with…
Pick any city to see costs side by side.
Related cities
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Iceland
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$2,405
vs NYC
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Norway
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$2,487
vs NYC
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Norway
Stavanger
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$2,175
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Denmark
Copenhagen
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$2,055
vs NYC
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Norway
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$2,007
vs NYC
45.6/100
Norway
Bergen
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$1,873
vs NYC
42.6/100
Frequently asked questions
- How much does it cost to live in Reykjavik-Iceland?
- An estimated $2,634 per month covers rent, food, utilities, and transport for one person in Reykjavik-Iceland. A family of four needs around $4,984 per month, while students living shared accommodation manage on roughly $1,540.
- How much money do I need to live in Reykjavik-Iceland?
- Plan for at least $2,634 per month as a single person, $4,984 per month for a family of four, or $1,540 per month as a student in shared accommodation. Add 15–25% on top for taxes, savings, and discretionary spending — that's the salary you should be targeting before relocating to Reykjavik-Iceland.
- What is the average rent in Reykjavik-Iceland?
- A one-bedroom apartment in Reykjavik-Iceland rents for around $2,429 per month, with three-bedroom apartments in the city centre around $3,433 per month. Prices vary depending on neighbourhood, building age, and furnishings.
- What is the average salary in Reykjavik-Iceland?
- The average monthly net salary in Reykjavik-Iceland is around $4,472. Whether that's enough to live comfortably depends on housing choice — rent typically claims 54% of a single-person paycheck.
- How much does food cost in Reykjavik-Iceland?
- A meal at an inexpensive restaurant in Reykjavik-Iceland costs around $29. Cooking at home, a single person spends roughly $131 per month on groceries. Staples like milk ($2.02/L) and bread ($4.40/500g) are typical.
- What is public transport like in Reykjavik-Iceland?
- A monthly public transport pass in Reykjavik-Iceland costs around $91. Cities with extensive metro and bus networks generally let residents skip car ownership entirely, particularly when commuting from areas outside the city centre.
- Is the internet expensive in Reykjavik-Iceland?
- Unlimited broadband at 60 Mbps or higher in Reykjavik-Iceland costs around $84 per month — useful context for remote workers comparing locations.