Last update: Oct 2026

Cost of Living Comparison Between Iceland and Germany

Name: Germany
Address: DE

For one person, living is cheaper in Germany: $2,080 a month against $3,897 in Iceland, rent and utilities included – about $21,800 less a year. Rent and utilities account for most of the difference.

187

Cost of Living Index in Iceland
Learn more

Iceland Living Index
100

Cost of Living Index in Germany
Learn more

Germany Living Index

Jump to prices

🇮🇸 Iceland

$3,897

/mo nomad

🇩🇪 Germany

$2,080

/mo nomad

Monthly Cost of Living

How much you'll spend in Iceland and in Germany

Real prices from locals and on-the-ground checks – rent, groceries, transit and the daily extras. Here's what a month in Iceland and in Germany actually costs, broken down by who's living it.

Monthly costs for one person with rent: $3,897 in Iceland versus $2,080 in Germany.

Iceland $3,897
Germany $2,080

Estimated couple costs with rent: $5,533 in Iceland versus $3,130 in Germany.

Iceland $5,533
Germany $3,130

Monthly costs for a family of three with rent: $7,168 in Iceland versus $4,180 in Germany.

Iceland $7,168
Germany $4,180

Internal cost variation is higher in Iceland: monthly costs span $179 to $4,040, compared to $1,337–$2,681 in Germany. City choice carries more weight in Iceland.

Living in Iceland is roughly 87% more expensive than in Germany on average.

Both countries sit above the global median: Iceland 186% above, Germany 53% above.

Meal at Budget Restaurant

$28.48 ISK 3,469

$16.60 €14.92

71.57%

Three-Course Dinner for Two, Mid-Range

$123 ISK 15.0K

$71.8 €64.5

71.32%

Fast Food Meal (McDonalds, etc)

$23.70 ISK 2,887

$12.12 €10.89

95.54%

Cappuccino

$6.09 ISK 742

$3.96 €3.56

53.79%

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

$3.11 ISK 379

$3.36 €3.02

-7.44%

Water (0.33 liter bottle)

$2.95 ISK 359

$2.89 €2.60

2.08%

Local Beer (0.5 liter draught)

$12.19 ISK 1,485

$5.07 €4.55

140.43%

Imported Beer (0.33 liter bottle)

$12.42 ISK 1,513

$4.50 €4.05

176.00%

Milk (1 liter)

$2.03 ISK 247

$1.26 €1.13

61.11%

White Bread (500g)

$3.99 ISK 486

$2.20 €1.97

81.36%

Rice (white) (1kg)

$3.45 ISK 420

$3.54 €3.18

-2.54%

Eggs

$7.17 ISK 873

$3.88 €3.49

84.79%

Local Cheese (1kg)

$20.65 ISK 2,516

$14.24 €12.79

45.01%

Chicken Fillets (1kg)

$24.78 ISK 3,019

$11.90 €10.69

108.24%

Beef Round Steak (1kg)

$42.17 ISK 5,138

$20.68 €18.58

103.92%

Apples (1kg)

$3.01 ISK 367

$3.28 €2.95

-8.23%

Banana (1kg)

$2.67 ISK 326

$2.05 €1.84

30.24%

Oranges (1kg)

$3.15 ISK 383

$2.31 €2.08

36.36%

Tomato (1kg)

$5.93 ISK 722

$4.29 €3.85

38.23%

Potato (1kg)

$3.86 ISK 470

$1.53 €1.38

152.29%

Onion (1kg)

$1.85 ISK 226

$1.50 €1.34

23.33%

Lettuce (1 head)

$3.59 ISK 437

$1.64 €1.47

118.90%

Water (1.5 liter bottle)

$1.89 ISK 230

$1.02 €0.91

85.29%

Cigarettes 20 Pack (Marlboro, Camel)

$14.17 ISK 1,727

$9.69 €8.71

46.23%

Wine (Bottle)

$22.52 ISK 2,744

$6.01 €5.40

274.71%

Local Beer (0.5 liter bottle)

$3.65 ISK 444

$1.12 €1.01

225.89%

Imported Beer (0.33 liter bottle)

$3.33 ISK 406

$1.56 €1.41

113.46%

One-way Ticket (Public Transport)

$5.51 ISK 672

$3.85 €3.46

43.12%

Public Transport Monthly Pass (Regular Price)

$94.7 ISK 11.5K

$69.7 €62.6

35.83%

Taxi Start (Normal Tariff)

$6.77 ISK 825

$5.34 €4.79

26.78%

Taxi (Normal Tariff) (1km)

$2.87 ISK 350

$2.81 €2.52

2.14%

Taxi 1hour Waiting (Normal Tariff)

$79.3 ISK 9,666

$38.83 €34.89

104.30%

Gasoline (1 liter)

$2.35 ISK 286

$2.13 €1.91

10.33%

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

$69.7K ISK 8.5M

$32.6K €29.3K

114.06%

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

$56.0K ISK 6.8M

$37.7K €33.9K

48.46%

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

$103 ISK 12.6K

$342 €307

-69.87%

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

$32.44 ISK 3,953

$24.87 €22.35

30.44%

Internet (50+ Mbps, Unlimited Data)

$87.9 ISK 10.7K

$48.49 €43.57

81.19%

Gym Membership (Monthly)

$92.3 ISK 11.2K

$39.42 €35.42

134.15%

Tennis Court (1 Hour on Weekend)

$52.4 ISK 6,382

$27.47 €24.69

90.68%

Cinema Ticket

$19.09 ISK 2,326

$14.65 €13.17

30.31%

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

$947 ISK 115.4K

$611 €549

55.12%

International Primary School, 1 Child (Yearly)

$26.4K ISK 3.2M

$17.3K €15.5K

52.73%

Jeans (Levis 501 Or Similar)

$149 ISK 18.2K

$89.1 €80.0

67.32%

Summer Dress (H&M, Zara, etc)

$47.82 ISK 5,827

$42.07 €37.80

13.67%

Sport Shoes (Adidas, Nike)

$172 ISK 20.9K

$98.3 €88.3

74.89%

Men's Leather Business Shoes

$234 ISK 28.5K

$131 €117

79.20%

1-bedroom Apartment, City Center (Monthly)

$2,575 ISK 313.8K

$934 €839

175.68%

1-bedroom Apartment, Outside City Center (Monthly)

$2,041 ISK 248.7K

$718 €645

184.10%

3-bedroom Apartment, City Center (Monthly)

$3,504 ISK 426.9K

$1,704 €1,531

105.68%

3-bedroom Apartment, Outside City Center (Monthly)

$2,712 ISK 330.4K

$1,294 €1,162

109.63%

Buy Apartment in City Center (m2)

$7,617 ISK 928.1K

$5,944 €5,341

28.15%

Buy Apartment Outside City Center (m2)

$6,338 ISK 772.2K

$3,958 €3,556

60.14%

Average Monthly Net Salary (After Tax)

$4,789 ISK 583.5K

$3,290 €2,956

45.58%

20-Year Fixed Mortgage Interest Rate (Annual %)

9.29

3.96

134.60%

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

Last update for Iceland: October 25, 2026

Last update for Germany: October 25, 2026

Monthly budget structure

Share of the monthly basket for one person, rent included.

Accommodation & Living

Iceland

$2K 52.4%

Germany

$718 34.6% 64.8% $1.3K

Groceries & Markets

Iceland

$611 15.7%

Germany

$335 16.1% 45.1% $276

Eating Out

Iceland

$482 12.4%

Germany

$276 13.3% 42.7% $206

Clothing & Footwear

Iceland

$271 7%

Germany

$162 7.8% 40.3% $109

Monthly Utilities & Internet

Iceland

$223 5.7%

Germany

$415 20% 86% $192

Getting Around

Iceland

$138 3.5%

Germany

$104 5% 24.2% $33

Sport & Entertainment

Iceland

$130 3.4%

Germany

$69 3.3% 47.3% $62

Cost Breakdown

National rent averages: $2,368 in Iceland, $812 in Germany. Capital cities: $2,585 in Reykjavik vs $1,407 in Berlin.

National salary averages: $4,949 in Iceland, $3,107 in Germany. Higher pay doesn’t always mean more spending money – weigh income against local costs.

Cost Highlights

Rent is 192% higher in Iceland.

Dining out costs 68% more in Iceland.

Public transport is 19% more expensive in Iceland.

Salaries are 59% higher in Iceland, and purchasing power comes out stronger in Germany.

Good to know

🇮🇸 Iceland

🇩🇪 Germany

🕒 Local time

09:25 9:25 AM

10:25 10:25 AM

1 h ahead of Iceland

🌤 Weather

👥 Population

364,260

84,358,845

💱 Currency

Icelandic Króna ISK kr

Euro EUR €

📈 Exchange rate

1,000 ISK = 8.21 USD

1,000 ISK = 7.37 EUR

1 EUR = 1.11 USD

Exchange rates and currency converter

EUR, USD to ISK – Icelandic Króna Converter

🇺🇸 United States Dollar ($)

🇮🇸 Icelandic Króna (kr)

Icelandic Króna exchange rates as of October 28, 2026: 1 USD = 122 ISK (1,000 ISK = 8.21 USD). 1 EUR = 136 ISK (1,000 ISK = 7.37 EUR).

Euro exchange rates as of October 28, 2026: 1 USD = 0.898 EUR (1 EUR = 1.11 USD).

USD to ISK in detail →

On the map

Lowest

Highest

Between locations

Iceland Germany 2,390 km ≈ 3 h 30 min nonstop flight

From you

Iceland
Germany

Distances are measured in a straight line. Your location is detected approximately.

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

Iceland vs Germany: Cost of Living - Frequently Asked Questions

At $2,080 per month in Germany and $3,897 in Iceland, there’s a 87% gap. Keep in mind it varies by city – the difference can be bigger or smaller depending on where you settle within each country.

Day-to-day life is cheaper in Germany: lower grocery prices, cheaper commutes, and more affordable meals out. Over time, those daily savings make a real difference to your monthly budget and ability to put money away.

Rent for a central one-bedroom averages $2,368 in Iceland and $812 in Germany. Rents vary a lot between cities, so the gap depends on where you settle.

In Germany, $3,000 covers most cities easily; in Iceland it stretches only to regional areas and falls short in the capital – you’ll need to make trade-offs on housing or lifestyle.

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