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

Name: Australia
Address: AU

😐 Solo nomad: Iceland is 61.7% more expensive than Australia without rent, and 61.7% more expensive with rent.

😐 Family of 3: Iceland is 67.4% more expensive than Australia without rent, and 60.8% more expensive with rent.

Meal at Budget Restaurant

$27.05 ISK 3,385

$16.40 A$23.29

64.94%

Three-Course Dinner for Two, Mid-Range

$130 ISK 16.3K

$78.2 A$111

66.95%

Fast Food Meal (McDonalds, etc)

$20.18 ISK 2,526

$9.52 A$13.52

111.97%

Cappuccino

$6.04 ISK 756

$3.57 A$5.07

69.19%

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

$3.31 ISK 415

$2.55 A$3.62

29.80%

Water (0.33 liter bottle)

$2.67 ISK 334

$2.21 A$3.14

20.81%

Local Beer (0.5 liter draught)

$12.15 ISK 1,520

$6.41 A$9.10

89.55%

Imported Beer (0.33 liter bottle)

$10.26 ISK 1,283

$7.22 A$10.25

42.11%

Milk (1 liter)

$1.85 ISK 231

$1.56 A$2.21

18.59%

White Bread (500g)

$4.08 ISK 511

$2.48 A$3.53

64.52%

Rice (white) (1kg)

$3.58 ISK 448

$2.00 A$2.84

79.00%

Eggs

$6.57 ISK 822

$4.28 A$6.07

53.50%

Local Cheese (1kg)

$18.48 ISK 2,313

$8.60 A$12.21

114.88%

Chicken Fillets (1kg)

$24.80 ISK 3,103

$8.56 A$12.15

189.72%

Beef Round Steak (1kg)

$42.58 ISK 5,328

$13.71 A$19.47

210.58%

Apples (1kg)

$3.02 ISK 378

$3.22 A$4.58

-6.21%

Banana (1kg)

$2.43 ISK 304

$2.72 A$3.86

-10.66%

Oranges (1kg)

$2.89 ISK 362

$2.94 A$4.17

-1.70%

Tomato (1kg)

$5.00 ISK 625

$4.28 A$6.08

16.82%

Potato (1kg)

$3.68 ISK 460

$2.51 A$3.56

46.61%

Onion (1kg)

$2.19 ISK 274

$2.11 A$3.00

3.79%

Lettuce (1 head)

$3.10 ISK 388

$2.21 A$3.14

40.27%

Water (1.5 liter bottle)

$2.23 ISK 279

$1.53 A$2.17

45.75%

Cigarettes 20 Pack (Marlboro, Camel)

$14.49 ISK 1,813

$31.35 A$44.52

-53.78%

Wine (Bottle)

$23.38 ISK 2,926

$14.09 A$20.00

65.93%

Local Beer (0.5 liter bottle)

$3.58 ISK 448

$4.43 A$6.29

-19.19%

Imported Beer (0.33 liter bottle)

$3.09 ISK 386

$5.07 A$7.20

-39.05%

One-way Ticket (Public Transport)

$5.35 ISK 669

$2.90 A$4.12

84.48%

Public Transport Monthly Pass (Regular Price)

$82.3 ISK 10.3K

$97.6 A$139

-15.68%

Taxi Start (Normal Tariff)

$6.52 ISK 816

$3.55 A$5.05

83.66%

Taxi (Normal Tariff) (1km)

$2.28 ISK 285

$1.84 A$2.62

23.91%

Taxi 1hour Waiting (Normal Tariff)

$84.9 ISK 10.6K

$37.44 A$53.2

126.76%

Gasoline (1 liter)

$2.57 ISK 322

$1.15 A$1.63

123.48%

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

$46.8K ISK 5.9M

$29.2K A$41.5K

60.09%

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

$53.6K ISK 6.7M

$23.0K A$32.6K

133.34%

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

$90.2 ISK 11.3K

$180 A$255

-49.85%

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

$27.47 ISK 3,437

$25.91 A$36.79

6.02%

Internet (50+ Mbps, Unlimited Data)

$87.5 ISK 10.9K

$52.5 A$74.5

66.77%

Gym Membership (Monthly)

$82.0 ISK 10.3K

$48.04 A$68.2

70.67%

Tennis Court (1 Hour on Weekend)

$37.43 ISK 4,683

$16.66 A$23.66

124.67%

Cinema Ticket

$17.29 ISK 2,164

$13.87 A$19.70

24.66%

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

$351 ISK 43.9K

$1,559 A$2,214

-77.50%

International Primary School, 1 Child (Yearly)

$29.9K ISK 3.7M

$12.5K A$17.8K

139.21%

Jeans (Levis 501 Or Similar)

$137 ISK 17.1K

$70.2 A$99.7

94.91%

Summer Dress (H&M, Zara, etc)

$64.8 ISK 8,104

$51.4 A$73.0

25.99%

Sport Shoes (Adidas, Nike)

$174 ISK 21.8K

$101 A$143

73.12%

Men's Leather Business Shoes

$255 ISK 31.9K

$112 A$159

128.21%

1-bedroom Apartment, City Center (Monthly)

$2,207 ISK 276.2K

$1,361 A$1,932

62.22%

1-bedroom Apartment, Outside City Center (Monthly)

$2,013 ISK 251.9K

$1,083 A$1,538

85.85%

3-bedroom Apartment, City Center (Monthly)

$3,123 ISK 390.8K

$2,332 A$3,311

33.97%

3-bedroom Apartment, Outside City Center (Monthly)

$2,712 ISK 339.4K

$1,718 A$2,439

57.89%

Buy Apartment in City Center (m2)

$7,651 ISK 957.3K

$7,612 A$10.8K

0.51%

Buy Apartment Outside City Center (m2)

$6,259 ISK 783.2K

$5,588 A$7,935

12.01%

Average Monthly Net Salary (After Tax)

$4,671 ISK 584.5K

$3,928 A$5,578

18.91%

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: March 2, 2026

Last update for Australia: March 3, 2026

City Median Internet Speeds Comparison (Updated January 2026)

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

Digital Nomad Cost of Living Index

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

City Median Internet Speeds Comparison (Updated January 2026)

Iceland

Australia

Iceland

Australia

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