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

Name: Australia
Address: AU

😐 Solo nomad: Iceland is 67.4% more expensive than Australia without rent, and 60.3% more expensive with rent.

😐 Family of 3: Iceland is 64.1% more expensive than Australia without rent, and 56.3% more expensive with rent.

Meal at Budget Restaurant

$26.87 ISK 3,353

$15.97 A$24.47

68.25%

Three-Course Dinner for Two, Mid-Range

$126 ISK 15.7K

$77.2 A$118

63.56%

Fast Food Meal (McDonalds, etc)

$20.34 ISK 2,538

$9.66 A$14.8

110.56%

Cappuccino

$6.09 ISK 760

$3.57 A$5.48

70.59%

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

$3.36 ISK 419

$2.64 A$4.04

27.27%

Water (0.33 liter bottle)

$2.7 ISK 337

$2.22 A$3.41

21.62%

Local Beer (0.5 liter draught)

$12.07 ISK 1,506

$6.57 A$10.06

83.71%

Imported Beer (0.33 liter bottle)

$10.47 ISK 1,306

$6.98 A$10.7

50.00%

Milk (1 liter)

$1.95 ISK 243

$1.5 A$2.3

30.00%

White Bread (500g)

$4.07 ISK 508

$2.42 A$3.7

68.18%

Rice (white) (1kg)

$3.48 ISK 434

$2.02 A$3.1

72.28%

Eggs

$6.36 ISK 793

$4.38 A$6.71

45.21%

Local Cheese (1kg)

$18.36 ISK 2,290

$8.86 A$13.58

107.22%

Chicken Fillets (1kg)

$24.71 ISK 3,082

$8.26 A$12.66

199.15%

Beef Round Steak (1kg)

$42.1 ISK 5,251

$14.14 A$21.66

197.74%

Apples (1kg)

$3.18 ISK 397

$3.24 A$4.96

-1.85%

Banana (1kg)

$2.49 ISK 310

$2.68 A$4.11

-7.09%

Oranges (1kg)

$2.92 ISK 365

$2.86 A$4.39

2.10%

Tomato (1kg)

$4.86 ISK 606

$4.25 A$6.5

14.35%

Potato (1kg)

$3.68 ISK 460

$2.55 A$3.91

44.31%

Onion (1kg)

$2.26 ISK 281

$2.19 A$3.35

3.20%

Lettuce (1 head)

$3.17 ISK 396

$2.24 A$3.43

41.52%

Water (1.5 liter bottle)

$2.2 ISK 274

$1.57 A$2.41

40.13%

Cigarettes 20 Pack (Marlboro, Camel)

$14.05 ISK 1,753

$31.36 A$48.04

-55.20%

Wine (Bottle)

$24.13 ISK 3,010

$13.32 A$20.41

81.16%

Local Beer (0.5 liter bottle)

$3.63 ISK 453

$4.61 A$7.06

-21.26%

Imported Beer (0.33 liter bottle)

$3.21 ISK 401

$4.97 A$7.61

-35.41%

One-way Ticket (Public Transport)

$5.24 ISK 653

$2.97 A$4.54

76.43%

Public Transport Monthly Pass (Regular Price)

$84.3 ISK 10.5K

$98 A$150

-13.99%

Taxi Start (Normal Tariff)

$6.26 ISK 781

$3.62 A$5.55

72.93%

Taxi (Normal Tariff) (1km)

$2.37 ISK 296

$1.82 A$2.79

30.22%

Taxi 1hour Waiting (Normal Tariff)

$86.5 ISK 10.8K

$37.78 A$57.9

129.01%

Gasoline (1 liter)

$2.46 ISK 307

$1.2 A$1.84

105.00%

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

$47.9K ISK 6M

$29.1K A$44.6K

64.55%

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

$54K ISK 6.7M

$22.5K A$34.5K

139.55%

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

$90.4 ISK 11.3K

$180 A$276

-49.80%

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

$27.54 ISK 3,435

$26.23 A$40.19

4.99%

Internet (50+ Mbps, Unlimited Data)

$85.9 ISK 10.7K

$52.8 A$80.9

62.50%

Gym Membership (Monthly)

$81.8 ISK 10.2K

$46.77 A$71.7

74.88%

Tennis Court (1 Hour on Weekend)

$37.74 ISK 4,708

$16.37 A$25.08

130.54%

Cinema Ticket

$17.35 ISK 2,164

$13.82 A$21.18

25.54%

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

$348 ISK 43.4K

$1,599 A$2,450

-78.25%

International Primary School, 1 Child (Yearly)

$29.5K ISK 3.7M

$12.3K A$18.8K

140.33%

Jeans (Levis 501 Or Similar)

$137 ISK 17.1K

$71.7 A$110

91.00%

Summer Dress (H&M, Zara, etc)

$64.2 ISK 8,005

$51.5 A$78.8

24.72%

Sport Shoes (Adidas, Nike)

$171 ISK 21.4K

$101 A$155

69.57%

Men's Leather Business Shoes

$254 ISK 31.6K

$110 A$168

130.96%

1-bedroom Apartment, City Center (Monthly)

$2,216 ISK 276.4K

$1,395 A$2,137

58.86%

1-bedroom Apartment, Outside City Center (Monthly)

$2,002 ISK 249.8K

$1,106 A$1,694

81.12%

3-bedroom Apartment, City Center (Monthly)

$3,148 ISK 392.7K

$2,271 A$3,480

38.59%

3-bedroom Apartment, Outside City Center (Monthly)

$2,722 ISK 339.5K

$1,775 A$2,719

53.35%

Buy Apartment in City Center (m2)

$7,550 ISK 941.9K

$6,985 A$10.7K

8.09%

Buy Apartment Outside City Center (m2)

$6,306 ISK 786.7K

$5,106 A$7,823

23.49%

Average Monthly Net Salary (After Tax)

$4,591 ISK 572.7K

$3,626 A$5,555

26.61%

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: October 28, 2025

Last update for Australia: October 29, 2025

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