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

Name: Australia
Address: AU

😐 Solo nomad: Iceland is 62.4% more expensive than Australia without rent, and 66.4% more expensive with rent.

😐 Family of 3: Iceland is 64.6% more expensive than Australia without rent, and 62.3% more expensive with rent.

Meal at Budget Restaurant

$26.42 ISK 3,327

$16.57 A$24.86

59.44%

Three-Course Dinner for Two, Mid-Range

$128 ISK 16.1K

$77.7 A$117

64.37%

Fast Food Meal (McDonalds, etc)

$19.96 ISK 2,514

$9.88 A$14.82

102.02%

Cappuccino

$5.99 ISK 755

$3.48 A$5.22

72.13%

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

$3.32 ISK 418

$2.56 A$3.84

29.69%

Water (0.33 liter bottle)

$2.62 ISK 330

$2.13 A$3.20

23.00%

Local Beer (0.5 liter draught)

$12.09 ISK 1,523

$6.62 A$9.93

82.63%

Imported Beer (0.33 liter bottle)

$10.65 ISK 1,341

$7.31 A$10.97

45.69%

Milk (1 liter)

$1.95 ISK 246

$1.51 A$2.26

29.14%

White Bread (500g)

$4.21 ISK 531

$2.49 A$3.74

69.08%

Rice (white) (1kg)

$3.59 ISK 452

$2.07 A$3.10

73.43%

Eggs

$6.41 ISK 808

$4.27 A$6.41

50.12%

Local Cheese (1kg)

$18.74 ISK 2,360

$8.73 A$13.10

114.66%

Chicken Fillets (1kg)

$23.89 ISK 3,010

$8.25 A$12.38

189.58%

Beef Round Steak (1kg)

$42.05 ISK 5,297

$14.17 A$21.26

196.75%

Apples (1kg)

$3.07 ISK 387

$3.27 A$4.90

-6.12%

Banana (1kg)

$2.50 ISK 314

$2.68 A$4.02

-6.72%

Oranges (1kg)

$2.89 ISK 364

$2.89 A$4.34

Tomato (1kg)

$4.96 ISK 625

$4.28 A$6.42

15.89%

Potato (1kg)

$3.51 ISK 442

$2.47 A$3.70

42.11%

Onion (1kg)

$2.28 ISK 287

$2.11 A$3.16

8.06%

Lettuce (1 head)

$3.09 ISK 390

$2.30 A$3.44

34.35%

Water (1.5 liter bottle)

$2.17 ISK 274

$1.50 A$2.24

44.67%

Cigarettes 20 Pack (Marlboro, Camel)

$14.28 ISK 1,799

$31.81 A$47.72

-55.11%

Wine (Bottle)

$23.25 ISK 2,928

$13.45 A$20.17

72.86%

Local Beer (0.5 liter bottle)

$3.72 ISK 468

$4.48 A$6.72

-16.96%

Imported Beer (0.33 liter bottle)

$3.20 ISK 404

$5.01 A$7.51

-36.13%

One-way Ticket (Public Transport)

$5.29 ISK 666

$2.91 A$4.37

81.79%

Public Transport Monthly Pass (Regular Price)

$84.2 ISK 10.6K

$97.0 A$146

-13.24%

Taxi Start (Normal Tariff)

$6.39 ISK 805

$3.67 A$5.51

74.11%

Taxi (Normal Tariff) (1km)

$2.38 ISK 300

$1.81 A$2.71

31.49%

Taxi 1hour Waiting (Normal Tariff)

$84.9 ISK 10.7K

$38.37 A$57.6

121.21%

Gasoline (1 liter)

$2.54 ISK 320

$1.20 A$1.79

111.67%

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

$47.1K ISK 5.9M

$29.1K A$43.6K

61.96%

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

$54.5K ISK 6.9M

$22.7K A$34.1K

139.62%

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

$90.6 ISK 11.4K

$175 A$262

-48.25%

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

$27.40 ISK 3,451

$26.26 A$39.39

4.34%

Internet (50+ Mbps, Unlimited Data)

$88.2 ISK 11.1K

$53.0 A$79.5

66.49%

Gym Membership (Monthly)

$82.6 ISK 10.4K

$47.12 A$70.7

75.30%

Tennis Court (1 Hour on Weekend)

$37.13 ISK 4,676

$16.51 A$24.77

124.89%

Cinema Ticket

$17.81 ISK 2,244

$13.57 A$20.35

31.25%

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

$347 ISK 43.7K

$1,588 A$2,382

-78.13%

International Primary School, 1 Child (Yearly)

$29.7K ISK 3.7M

$12.5K A$18.8K

136.97%

Jeans (Levis 501 Or Similar)

$138 ISK 17.4K

$69.7 A$105

97.71%

Summer Dress (H&M, Zara, etc)

$62.7 ISK 7,898

$50.7 A$76.0

23.77%

Sport Shoes (Adidas, Nike)

$175 ISK 22.0K

$102 A$153

71.13%

Men's Leather Business Shoes

$253 ISK 31.9K

$109 A$163

132.34%

1-bedroom Apartment, City Center (Monthly)

$2,235 ISK 281.6K

$1,370 A$2,055

63.19%

1-bedroom Apartment, Outside City Center (Monthly)

$1,977 ISK 249.1K

$1,076 A$1,613

83.86%

3-bedroom Apartment, City Center (Monthly)

$3,150 ISK 396.7K

$2,270 A$3,404

38.78%

3-bedroom Apartment, Outside City Center (Monthly)

$2,737 ISK 344.7K

$1,772 A$2,658

54.47%

Buy Apartment in City Center (m2)

$7,399 ISK 931.9K

$7,081 A$10.6K

4.49%

Buy Apartment Outside City Center (m2)

$6,095 ISK 767.7K

$5,392 A$8,088

13.04%

Average Monthly Net Salary (After Tax)

$4,487 ISK 565.2K

$3,742 A$5,614

19.89%

20-Year Fixed Mortgage Interest Rate (Annual %)

9.88

6.35

55.59%

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

Last update for Iceland: January 13, 2026

Last update for Australia: January 10, 2026

Digital Nomad Cost of Living Index

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

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