Cost of Living Comparison Between Spain and Iceland Cost of Living Comparison Between Spain and Iceland

Name: Iceland
Address: IS

🙂 Solo nomad: Spain is 50.5% cheaper than Iceland without rent, and 53.7% cheaper with rent.

🙂 Family of 3: Spain is 51% cheaper than Iceland without rent, and 52.4% cheaper with rent.

Meal at Budget Restaurant

$16.14 €13.92

$26.42 ISK 3,328

-38.91%

Three-Course Dinner for Two, Mid-Range

$57.7 €49.70

$128 ISK 16.1K

-54.86%

Fast Food Meal (McDonalds, etc)

$10.53 €9.08

$19.96 ISK 2,514

-47.24%

Cappuccino

$2.31 €2.00

$5.99 ISK 755

-61.44%

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

$2.58 €2.22

$3.32 ISK 418

-22.29%

Water (0.33 liter bottle)

$1.81 €1.56

$2.62 ISK 330

-30.92%

Local Beer (0.5 liter draught)

$3.55 €3.06

$12.09 ISK 1,523

-70.64%

Imported Beer (0.33 liter bottle)

$4.00 €3.45

$10.65 ISK 1,341

-62.44%

Milk (1 liter)

$1.23 €1.06

$1.95 ISK 246

-36.92%

White Bread (500g)

$1.51 €1.30

$4.21 ISK 531

-64.13%

Rice (white) (1kg)

$1.66 €1.43

$3.59 ISK 452

-53.76%

Eggs

$2.95 €2.55

$6.41 ISK 808

-53.98%

Local Cheese (1kg)

$14.57 €12.56

$18.74 ISK 2,360

-22.25%

Chicken Fillets (1kg)

$8.36 €7.21

$23.89 ISK 3,010

-65.01%

Beef Round Steak (1kg)

$15.96 €13.75

$42.05 ISK 5,298

-62.05%

Apples (1kg)

$2.54 €2.19

$3.07 ISK 387

-17.26%

Banana (1kg)

$2.08 €1.79

$2.50 ISK 315

-16.80%

Oranges (1kg)

$2.13 €1.84

$2.89 ISK 364

-26.30%

Tomato (1kg)

$2.54 €2.19

$4.96 ISK 625

-48.79%

Potato (1kg)

$1.86 €1.60

$3.51 ISK 442

-47.01%

Onion (1kg)

$1.99 €1.71

$2.28 ISK 287

-12.72%

Lettuce (1 head)

$1.34 €1.16

$3.09 ISK 390

-56.63%

Water (1.5 liter bottle)

$0.80 €0.69

$2.17 ISK 274

-63.13%

Cigarettes 20 Pack (Marlboro, Camel)

$6.51 €5.61

$14.28 ISK 1,799

-54.41%

Wine (Bottle)

$5.67 €4.89

$23.25 ISK 2,929

-75.61%

Local Beer (0.5 liter bottle)

$1.25 €1.08

$3.72 ISK 468

-66.40%

Imported Beer (0.33 liter bottle)

$2.16 €1.86

$3.20 ISK 404

-32.50%

One-way Ticket (Public Transport)

$1.76 €1.52

$5.29 ISK 666

-66.73%

Public Transport Monthly Pass (Regular Price)

$34.45 €29.70

$84.2 ISK 10.6K

-59.07%

Taxi Start (Normal Tariff)

$4.49 €3.87

$6.39 ISK 805

-29.73%

Taxi (Normal Tariff) (1km)

$1.27 €1.10

$2.38 ISK 300

-46.64%

Taxi 1hour Waiting (Normal Tariff)

$26.76 €23.07

$84.9 ISK 10.7K

-68.47%

Gasoline (1 liter)

$1.80 €1.55

$2.54 ISK 320

-29.13%

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

$38.7K €33.3K

$47.1K ISK 5.9M

-17.89%

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

$30.6K €26.4K

$54.5K ISK 6.9M

-43.80%

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

$148 €128

$90.6 ISK 11.4K

63.71%

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

$20.22 €17.43

$27.40 ISK 3,451

-26.20%

Internet (50+ Mbps, Unlimited Data)

$33.26 €28.67

$88.2 ISK 11.1K

-62.29%

Gym Membership (Monthly)

$47.68 €41.10

$82.6 ISK 10.4K

-42.28%

Tennis Court (1 Hour on Weekend)

$15.73 €13.56

$37.13 ISK 4,677

-57.64%

Cinema Ticket

$9.22 €7.94

$17.81 ISK 2,244

-48.23%

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

$527 €455

$347 ISK 43.7K

51.83%

International Primary School, 1 Child (Yearly)

$10.0K €8,654

$29.7K ISK 3.7M

-66.21%

Jeans (Levis 501 Or Similar)

$88.3 €76.1

$138 ISK 17.4K

-35.97%

Summer Dress (H&M, Zara, etc)

$36.99 €31.88

$62.7 ISK 7,898

-41.00%

Sport Shoes (Adidas, Nike)

$91.3 €78.7

$175 ISK 22.0K

-47.74%

Men's Leather Business Shoes

$107 €92.1

$253 ISK 31.9K

-57.79%

1-bedroom Apartment, City Center (Monthly)

$1,066 €919

$2,235 ISK 281.6K

-52.32%

1-bedroom Apartment, Outside City Center (Monthly)

$817 €704

$1,977 ISK 249.1K

-58.68%

3-bedroom Apartment, City Center (Monthly)

$1,685 €1,453

$3,150 ISK 396.8K

-46.50%

3-bedroom Apartment, Outside City Center (Monthly)

$1,253 €1,080

$2,737 ISK 344.7K

-54.22%

Buy Apartment in City Center (m2)

$4,444 €3,831

$7,399 ISK 932.0K

-39.93%

Buy Apartment Outside City Center (m2)

$2,794 €2,408

$6,095 ISK 767.8K

-54.16%

Average Monthly Net Salary (After Tax)

$2,090 €1,802

$4,487 ISK 565.2K

-53.41%

20-Year Fixed Mortgage Interest Rate (Annual %)

3.51

9.88

-64.47%

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

Last update for Spain: January 12, 2026

Last update for Iceland: January 13, 2026

Digital Nomad Cost of Living Index

Cost of Living Comparison Between Spain and Iceland Cost of Living Comparison Between Spain and Iceland

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