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

Name: Iceland
Address: IS

🙂 Solo nomad: Australia is 38.4% cheaper than Iceland without rent, and 39.9% cheaper with rent.

🙂 Family of 3: Australia is 39.2% cheaper than Iceland without rent, and 38.4% cheaper with rent.

Meal at Budget Restaurant

$16.57 A$24.86

$26.42 ISK 3,327

-37.28%

Three-Course Dinner for Two, Mid-Range

$77.7 A$117

$128 ISK 16.1K

-39.16%

Fast Food Meal (McDonalds, etc)

$9.88 A$14.82

$19.96 ISK 2,514

-50.50%

Cappuccino

$3.48 A$5.22

$5.99 ISK 755

-41.90%

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

$2.56 A$3.84

$3.32 ISK 418

-22.89%

Water (0.33 liter bottle)

$2.13 A$3.20

$2.62 ISK 330

-18.70%

Local Beer (0.5 liter draught)

$6.62 A$9.93

$12.09 ISK 1,523

-45.24%

Imported Beer (0.33 liter bottle)

$7.31 A$10.97

$10.65 ISK 1,341

-31.36%

Milk (1 liter)

$1.51 A$2.26

$1.95 ISK 246

-22.56%

White Bread (500g)

$2.49 A$3.74

$4.21 ISK 531

-40.86%

Rice (white) (1kg)

$2.07 A$3.10

$3.59 ISK 452

-42.34%

Eggs

$4.27 A$6.41

$6.41 ISK 808

-33.39%

Local Cheese (1kg)

$8.73 A$13.10

$18.74 ISK 2,360

-53.42%

Chicken Fillets (1kg)

$8.25 A$12.38

$23.89 ISK 3,010

-65.47%

Beef Round Steak (1kg)

$14.17 A$21.26

$42.05 ISK 5,297

-66.30%

Apples (1kg)

$3.27 A$4.90

$3.07 ISK 387

6.51%

Banana (1kg)

$2.68 A$4.02

$2.50 ISK 314

7.20%

Oranges (1kg)

$2.89 A$4.34

$2.89 ISK 364

Tomato (1kg)

$4.28 A$6.42

$4.96 ISK 625

-13.71%

Potato (1kg)

$2.47 A$3.70

$3.51 ISK 442

-29.63%

Onion (1kg)

$2.11 A$3.16

$2.28 ISK 287

-7.46%

Lettuce (1 head)

$2.30 A$3.44

$3.09 ISK 390

-25.57%

Water (1.5 liter bottle)

$1.50 A$2.24

$2.17 ISK 274

-30.88%

Cigarettes 20 Pack (Marlboro, Camel)

$31.81 A$47.72

$14.28 ISK 1,799

122.76%

Wine (Bottle)

$13.45 A$20.17

$23.25 ISK 2,928

-42.15%

Local Beer (0.5 liter bottle)

$4.48 A$6.72

$3.72 ISK 468

20.43%

Imported Beer (0.33 liter bottle)

$5.01 A$7.51

$3.20 ISK 404

56.56%

One-way Ticket (Public Transport)

$2.91 A$4.37

$5.29 ISK 666

-44.99%

Public Transport Monthly Pass (Regular Price)

$97.0 A$146

$84.2 ISK 10.6K

15.26%

Taxi Start (Normal Tariff)

$3.67 A$5.51

$6.39 ISK 805

-42.57%

Taxi (Normal Tariff) (1km)

$1.81 A$2.71

$2.38 ISK 300

-23.95%

Taxi 1hour Waiting (Normal Tariff)

$38.37 A$57.6

$84.9 ISK 10.7K

-54.80%

Gasoline (1 liter)

$1.20 A$1.79

$2.54 ISK 320

-52.76%

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

$29.1K A$43.6K

$47.1K ISK 5.9M

-38.25%

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

$22.7K A$34.1K

$54.5K ISK 6.9M

-58.27%

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

$175 A$262

$90.6 ISK 11.4K

93.22%

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

$26.26 A$39.39

$27.40 ISK 3,451

-4.16%

Internet (50+ Mbps, Unlimited Data)

$53.0 A$79.5

$88.2 ISK 11.1K

-39.94%

Gym Membership (Monthly)

$47.12 A$70.7

$82.6 ISK 10.4K

-42.95%

Tennis Court (1 Hour on Weekend)

$16.51 A$24.77

$37.13 ISK 4,676

-55.53%

Cinema Ticket

$13.57 A$20.35

$17.81 ISK 2,244

-23.81%

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

$1,588 A$2,382

$347 ISK 43.7K

357.29%

International Primary School, 1 Child (Yearly)

$12.5K A$18.8K

$29.7K ISK 3.7M

-57.80%

Jeans (Levis 501 Or Similar)

$69.7 A$105

$138 ISK 17.4K

-49.42%

Summer Dress (H&M, Zara, etc)

$50.7 A$76.0

$62.7 ISK 7,898

-19.20%

Sport Shoes (Adidas, Nike)

$102 A$153

$175 ISK 22.0K

-41.57%

Men's Leather Business Shoes

$109 A$163

$253 ISK 31.9K

-56.96%

1-bedroom Apartment, City Center (Monthly)

$1,370 A$2,055

$2,235 ISK 281.6K

-38.72%

1-bedroom Apartment, Outside City Center (Monthly)

$1,076 A$1,613

$1,977 ISK 249.1K

-45.61%

3-bedroom Apartment, City Center (Monthly)

$2,270 A$3,404

$3,150 ISK 396.7K

-27.94%

3-bedroom Apartment, Outside City Center (Monthly)

$1,772 A$2,658

$2,737 ISK 344.7K

-35.26%

Buy Apartment in City Center (m2)

$7,081 A$10.6K

$7,399 ISK 931.9K

-4.30%

Buy Apartment Outside City Center (m2)

$5,392 A$8,088

$6,095 ISK 767.7K

-11.54%

Average Monthly Net Salary (After Tax)

$3,742 A$5,614

$4,487 ISK 565.2K

-16.59%

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: January 10, 2026

Last update for Iceland: January 13, 2026

Digital Nomad Cost of Living Index

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

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