Cost of Living Comparison Between China and Iceland Cost of Living Comparison Between China and Iceland

Name: Iceland
Address: IS

Monthly Cost of Living

Monthly costs for one person with rent: $712 in China versus $1,712 in Iceland.

Estimated couple costs with rent: $1,132 in China versus $2,549 in Iceland.

Monthly costs for a family of three with rent: $1,551 in China versus $3,385 in Iceland.

Living in China costs about 58% less than in Iceland on average.

China (47% below) and Iceland (28% above) straddle the global median.

Meal at Budget Restaurant

$2.81 ¥18.98

$26.20 ISK 3,231

-89.27%

Three-Course Dinner for Two, Mid-Range

$23.30 ¥158

$129 ISK 15.9K

-81.95%

Fast Food Meal (McDonalds, etc)

$5.01 ¥33.87

$19.99 ISK 2,465

-74.94%

Cappuccino

$3.01 ¥20.38

$6.03 ISK 744

-50.08%

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

$0.45 ¥3.03

$3.36 ISK 414

-86.61%

Water (0.33 liter bottle)

$0.29 ¥1.97

$2.60 ISK 321

-88.85%

Local Beer (0.5 liter draught)

$0.95 ¥6.41

$11.97 ISK 1,476

-92.06%

Imported Beer (0.33 liter bottle)

$2.05 ¥13.87

$10.31 ISK 1,272

-80.12%

Milk (1 liter)

$1.76 ¥11.87

$1.92 ISK 237

-8.33%

White Bread (500g)

$1.62 ¥10.98

$4.22 ISK 520

-61.61%

Rice (white) (1kg)

$0.95 ¥6.45

$3.43 ISK 423

-72.30%

Eggs

$1.56 ¥10.55

$6.39 ISK 788

-75.59%

Local Cheese (1kg)

$13.06 ¥88.3

$18.18 ISK 2,242

-28.16%

Chicken Fillets (1kg)

$3.28 ¥22.17

$24.14 ISK 2,976

-86.41%

Beef Round Steak (1kg)

$10.65 ¥72.0

$42.49 ISK 5,239

-74.94%

Apples (1kg)

$1.78 ¥12.03

$3.14 ISK 387

-43.31%

Banana (1kg)

$1.24 ¥8.42

$2.41 ISK 297

-48.55%

Oranges (1kg)

$1.50 ¥10.12

$2.87 ISK 354

-47.74%

Tomato (1kg)

$1.15 ¥7.79

$4.93 ISK 608

-76.67%

Potato (1kg)

$0.75 ¥5.07

$3.55 ISK 437

-78.87%

Onion (1kg)

$0.86 ¥5.81

$2.24 ISK 277

-61.61%

Lettuce (1 head)

$0.62 ¥4.17

$3.12 ISK 385

-80.13%

Water (1.5 liter bottle)

$0.56 ¥3.81

$2.25 ISK 278

-75.11%

Cigarettes 20 Pack (Marlboro, Camel)

$3.51 ¥23.76

$14.40 ISK 1,775

-75.63%

Wine (Bottle)

$11.66 ¥78.9

$23.05 ISK 2,842

-49.41%

Local Beer (0.5 liter bottle)

$0.80 ¥5.40

$3.61 ISK 445

-77.84%

Imported Beer (0.33 liter bottle)

$1.66 ¥11.25

$3.08 ISK 379

-46.10%

One-way Ticket (Public Transport)

$0.43 ¥2.93

$5.17 ISK 637

-91.68%

Public Transport Monthly Pass (Regular Price)

$20.86 ¥141

$82.8 ISK 10.2K

-74.79%

Taxi Start (Normal Tariff)

$1.37 ¥9.26

$6.54 ISK 806

-79.05%

Taxi (Normal Tariff) (1km)

$0.35 ¥2.38

$2.26 ISK 279

-84.51%

Taxi 1hour Waiting (Normal Tariff)

$6.63 ¥44.82

$84.8 ISK 10.5K

-92.18%

Gasoline (1 liter)

$1.14 ¥7.69

$2.53 ISK 312

-54.94%

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

$19.2K ¥129.7K

$47.3K ISK 5.8M

-59.49%

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

$16.8K ¥113.4K

$53.9K ISK 6.6M

-68.87%

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

$51.2 ¥346

$88.9 ISK 11.0K

-42.43%

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

$10.16 ¥68.7

$28.02 ISK 3,455

-63.74%

Internet (50+ Mbps, Unlimited Data)

$11.51 ¥77.9

$87.8 ISK 10.8K

-86.90%

Gym Membership (Monthly)

$40.53 ¥274

$80.8 ISK 9,966

-49.86%

Tennis Court (1 Hour on Weekend)

$15.05 ¥102

$37.38 ISK 4,609

-59.74%

Cinema Ticket

$6.10 ¥41.26

$17.80 ISK 2,194

-65.73%

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

$402 ¥2,719

$356 ISK 44.0K

12.81%

International Primary School, 1 Child (Yearly)

$17.7K ¥119.5K

$30.7K ISK 3.8M

-42.35%

Jeans (Levis 501 Or Similar)

$45.57 ¥308

$141 ISK 17.4K

-67.67%

Summer Dress (H&M, Zara, etc)

$33.26 ¥225

$63.7 ISK 7,853

-47.78%

Sport Shoes (Adidas, Nike)

$72.6 ¥491

$171 ISK 21.1K

-57.63%

Men's Leather Business Shoes

$74.5 ¥503

$255 ISK 31.5K

-70.83%

1-bedroom Apartment, City Center (Monthly)

$429 ¥2,903

$2,220 ISK 273.7K

-80.65%

1-bedroom Apartment, Outside City Center (Monthly)

$257 ¥1,739

$1,975 ISK 243.6K

-86.98%

3-bedroom Apartment, City Center (Monthly)

$895 ¥6,055

$3,128 ISK 385.6K

-71.37%

3-bedroom Apartment, Outside City Center (Monthly)

$541 ¥3,660

$2,669 ISK 329.1K

-79.72%

Buy Apartment in City Center (m2)

$5,015 ¥33.9K

$7,489 ISK 923.4K

-33.03%

Buy Apartment Outside City Center (m2)

$2,469 ¥16.7K

$6,310 ISK 778.0K

-60.88%

Average Monthly Net Salary (After Tax)

$1,055 ¥7,132

$4,699 ISK 579.4K

-77.56%

20-Year Fixed Mortgage Interest Rate (Annual %)

4.06

9.88

-58.91%

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

Last update for China: June 1, 2026

Last update for Iceland: June 1, 2026

Cost Breakdown

National rent averages: $286 in China, $534 in Iceland. Capital cities: $916 in Beijing (Pekin) vs $2,175 in Reykjavik.

National salary averages: $861 in China, $4,897 in Iceland. Higher pay doesn't always mean more spending money – weigh income against local costs.

Cost Highlights

Rent is 87% higher in Iceland.

Dining out costs 300% more in Iceland.

Salaries are 469% higher in Iceland, giving Iceland stronger purchasing power.

City Median Internet Speeds Comparison (Updated April 2026)

The chart highlights the Precision Threshold for mobile and fixed broadband internet speeds, updated quarterly.

Digital Nomad Cost of Living Index

China vs Iceland: Cost of Living - Frequently Asked Questions

At $865 per month in China and $1,942 in Iceland, there's a 125% gap. Keep in mind it varies by city – the difference can be bigger or smaller depending on where you settle within each country.

China is simply cheaper day-to-day: lower food prices, cheaper commutes, smaller household bills. Over time, those daily savings make a real difference to your monthly budget and ability to put money away.

Rent in Iceland beats China across the board, especially in major cities. Housing is usually the single biggest driver of the overall cost difference between the two countries.

In China, $2,000 covers most cities easily. In Iceland, it works in regional areas but falls short in the capital – you'll need to make trade-offs on housing or lifestyle.

It depends on what you're after. China wins on affordability; Iceland may offer higher salaries, better infrastructure, and different cultural perks. Both attract large expat communities for different reasons.