Cost of Living Comparison Between Australia and Iceland Cost of Living Comparison Between Australia and Iceland

Name: Iceland
Address: IS

🙂 Solo nomad: Australia is 40.3% cheaper than Iceland without rent, and 37.6% cheaper with rent.

🙂 Family of 3: Australia is 39.1% cheaper than Iceland without rent, and 36% cheaper with rent.

Meal at Budget Restaurant

$15.97 A$24.47

$26.87 ISK 3,353

-40.57%

Three-Course Dinner for Two, Mid-Range

$77.2 A$118

$126 ISK 15.7K

-38.86%

Fast Food Meal (McDonalds, etc)

$9.66 A$14.8

$20.34 ISK 2,538

-52.51%

Cappuccino

$3.57 A$5.48

$6.09 ISK 760

-41.38%

Coke/Pepsi/Fanta/Sprite (0.33 liter bottle)

$2.64 A$4.04

$3.36 ISK 419

-21.43%

Water (0.33 liter bottle)

$2.22 A$3.41

$2.7 ISK 337

-17.78%

Local Beer (0.5 liter draught)

$6.57 A$10.06

$12.07 ISK 1,506

-45.57%

Imported Beer (0.33 liter bottle)

$6.98 A$10.7

$10.47 ISK 1,306

-33.33%

Milk (1 liter)

$1.5 A$2.3

$1.95 ISK 243

-23.08%

White Bread (500g)

$2.42 A$3.7

$4.07 ISK 508

-40.54%

Rice (white) (1kg)

$2.02 A$3.1

$3.48 ISK 434

-41.95%

Eggs

$4.38 A$6.71

$6.36 ISK 793

-31.13%

Local Cheese (1kg)

$8.86 A$13.58

$18.36 ISK 2,290

-51.74%

Chicken Fillets (1kg)

$8.26 A$12.66

$24.71 ISK 3,082

-66.57%

Beef Round Steak (1kg)

$14.14 A$21.66

$42.1 ISK 5,251

-66.41%

Apples (1kg)

$3.24 A$4.96

$3.18 ISK 397

1.89%

Banana (1kg)

$2.68 A$4.11

$2.49 ISK 310

7.63%

Oranges (1kg)

$2.86 A$4.39

$2.92 ISK 365

-2.05%

Tomato (1kg)

$4.25 A$6.5

$4.86 ISK 606

-12.55%

Potato (1kg)

$2.55 A$3.91

$3.68 ISK 460

-30.71%

Onion (1kg)

$2.19 A$3.35

$2.26 ISK 281

-3.10%

Lettuce (1 head)

$2.24 A$3.43

$3.17 ISK 396

-29.34%

Water (1.5 liter bottle)

$1.57 A$2.41

$2.2 ISK 274

-28.64%

Cigarettes 20 Pack (Marlboro, Camel)

$31.36 A$48.04

$14.05 ISK 1,753

123.20%

Wine (Bottle)

$13.32 A$20.41

$24.13 ISK 3,010

-44.80%

Local Beer (0.5 liter bottle)

$4.61 A$7.06

$3.63 ISK 453

27.00%

Imported Beer (0.33 liter bottle)

$4.97 A$7.61

$3.21 ISK 401

54.83%

One-way Ticket (Public Transport)

$2.97 A$4.54

$5.24 ISK 653

-43.32%

Public Transport Monthly Pass (Regular Price)

$98 A$150

$84.3 ISK 10.5K

16.27%

Taxi Start (Normal Tariff)

$3.62 A$5.55

$6.26 ISK 781

-42.17%

Taxi (Normal Tariff) (1km)

$1.82 A$2.79

$2.37 ISK 296

-23.21%

Taxi 1hour Waiting (Normal Tariff)

$37.78 A$57.9

$86.5 ISK 10.8K

-56.33%

Gasoline (1 liter)

$1.2 A$1.84

$2.46 ISK 307

-51.22%

Midsize Hatchback 1.4l (Volkswagen Golf, Toyota Prius, Honda Civic, etc)

$29.1K A$44.6K

$47.9K ISK 6M

-39.23%

Compact Sedan 1.6l (Toyota Corolla, Mazda3, Kia K4, Hyundai Elantra, etc)

$22.5K A$34.5K

$54K ISK 6.7M

-58.26%

Utilities for 2 People in 2-bedroom Apartment (Heating, Electricity, Gas, Water, Garbage) (85m2)

$180 A$276

$90.4 ISK 11.3K

99.21%

SIM Card Monthly Plan (Calls and 10GB+ Data)

$26.23 A$40.19

$27.54 ISK 3,435

-4.76%

Internet (50+ Mbps, Unlimited Data)

$52.8 A$80.9

$85.9 ISK 10.7K

-38.46%

Gym Membership (Monthly)

$46.77 A$71.7

$81.8 ISK 10.2K

-42.82%

Tennis Court (1 Hour on Weekend)

$16.37 A$25.08

$37.74 ISK 4,708

-56.62%

Cinema Ticket

$13.82 A$21.18

$17.35 ISK 2,164

-20.35%

Preschool or Kindergarten, Full Day, Private, 1 Child (Monthly)

$1,599 A$2,450

$348 ISK 43.4K

359.87%

International Primary School, 1 Child (Yearly)

$12.3K A$18.8K

$29.5K ISK 3.7M

-58.39%

Jeans (Levis 501 Or Similar)

$71.7 A$110

$137 ISK 17.1K

-47.64%

Summer Dress (H&M, Zara, etc)

$51.5 A$78.8

$64.2 ISK 8,005

-19.82%

Sport Shoes (Adidas, Nike)

$101 A$155

$171 ISK 21.4K

-41.03%

Men's Leather Business Shoes

$110 A$168

$254 ISK 31.6K

-56.70%

1-bedroom Apartment, City Center (Monthly)

$1,395 A$2,137

$2,216 ISK 276.4K

-37.05%

1-bedroom Apartment, Outside City Center (Monthly)

$1,106 A$1,694

$2,002 ISK 249.8K

-44.79%

3-bedroom Apartment, City Center (Monthly)

$2,271 A$3,480

$3,148 ISK 392.7K

-27.85%

3-bedroom Apartment, Outside City Center (Monthly)

$1,775 A$2,719

$2,722 ISK 339.5K

-34.79%

Buy Apartment in City Center (m2)

$6,985 A$10.7K

$7,550 ISK 941.9K

-7.49%

Buy Apartment Outside City Center (m2)

$5,106 A$7,823

$6,306 ISK 786.7K

-19.02%

Average Monthly Net Salary (After Tax)

$3,626 A$5,555

$4,591 ISK 572.7K

-21.02%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.35

9.88

-35.73%

Citycost data is based on AI and user input – minor inaccuracies may occur.

Last update for Australia: October 29, 2025

Last update for Iceland: October 28, 2025

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