Cost of Living in Iceland - Updated Prices & Insights

Name: Iceland
Address: IS

Solo nomad: Estimated monthly costs are $1,687 (excluding rent), and $3,801 including rent.

Family of 3: Estimated monthly costs are $4,224 (excluding rent), and $6,987 including rent.

Meal at Budget Restaurant

$26.21 ISK 3,265

$15.09 ISK 1,880

$47.66 ISK 5,936

Three-Course Dinner for Two, Mid-Range

$128 ISK 16.0K

$88.2 ISK 11.0K

$241 ISK 30.0K

Fast Food Meal (McDonalds, etc)

$20.40 ISK 2,541

$18.77 ISK 2,337

$26.93 ISK 3,354

Cappuccino

$5.86 ISK 729

$3.64 ISK 453

$7.49 ISK 932

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

$3.35 ISK 417

$2.46 ISK 306

$4.12 ISK 513

Water (0.33 liter bottle)

$2.58 ISK 321

$1.97 ISK 245

$3.86 ISK 481

Local Beer (0.5 liter draught)

$11.91 ISK 1,483

$7.95 ISK 990

$14.30 ISK 1,781

Imported Beer (0.33 liter bottle)

$10.41 ISK 1,296

$8.01 ISK 997

$14.41 ISK 1,795

Milk (1 liter)

$1.87 ISK 233

$1.62 ISK 201

$2.77 ISK 345

White Bread (500g)

$4.01 ISK 499

$2.16 ISK 269

$7.84 ISK 977

Rice (white) (1kg)

$3.49 ISK 435

$2.30 ISK 286

$6.21 ISK 774

Eggs

$6.50 ISK 810

$4.87 ISK 607

$8.78 ISK 1,093

Local Cheese (1kg)

$18.80 ISK 2,342

$11.46 ISK 1,428

$24.57 ISK 3,060

Chicken Fillets (1kg)

$24.54 ISK 3,056

$12.15 ISK 1,514

$30.00 ISK 3,736

Beef Round Steak (1kg)

$42.86 ISK 5,339

$23.97 ISK 2,986

$56.4 ISK 7,019

Apples (1kg)

$3.05 ISK 380

$2.12 ISK 264

$4.72 ISK 588

Banana (1kg)

$2.45 ISK 305

$2.20 ISK 274

$4.40 ISK 548

Oranges (1kg)

$2.93 ISK 365

$2.23 ISK 278

$4.87 ISK 606

Tomato (1kg)

$4.91 ISK 611

$3.41 ISK 425

$7.13 ISK 888

Potato (1kg)

$3.51 ISK 437

$2.16 ISK 269

$4.40 ISK 548

Onion (1kg)

$2.21 ISK 275

$1.58 ISK 196

$4.14 ISK 516

Lettuce (1 head)

$3.21 ISK 400

$1.85 ISK 231

$4.93 ISK 614

Water (1.5 liter bottle)

$2.18 ISK 271

$1.32 ISK 165

$3.52 ISK 439

Cigarettes 20 Pack (Marlboro, Camel)

$14.47 ISK 1,802

$12.26 ISK 1,527

$15.46 ISK 1,925

Wine (Bottle)

$23.94 ISK 2,982

$16.24 ISK 2,022

$36.52 ISK 4,549

Local Beer (0.5 liter bottle)

$3.67 ISK 457

$3.13 ISK 390

$4.81 ISK 599

Imported Beer (0.33 liter bottle)

$3.18 ISK 396

$2.04 ISK 254

$4.17 ISK 519

One-way Ticket (Public Transport)

$5.34 ISK 665

$4.60 ISK 573

$5.42 ISK 675

Public Transport Monthly Pass (Regular Price)

$83.1 ISK 10.3K

$73.9 ISK 9,206

$87.4 ISK 10.9K

Taxi Start (Normal Tariff)

$6.46 ISK 804

$5.97 ISK 744

$8.18 ISK 1,018

Taxi (Normal Tariff) (1km)

$2.38 ISK 297

$2.21 ISK 275

$3.52 ISK 439

Taxi 1hour Waiting (Normal Tariff)

$86.7 ISK 10.8K

$80.1 ISK 9,981

$97.1 ISK 12.1K

Gasoline (1 liter)

$2.57 ISK 320

$2.42 ISK 302

$2.65 ISK 330

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

$46.4K ISK 5.8M

$43.3K ISK 5.4M

$48.8K ISK 6.1M

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

$53.9K ISK 6.7M

$50.1K ISK 6.2M

$56.6K ISK 7.1M

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

$88.7 ISK 11.0K

$63.2 ISK 7,867

$190 ISK 23.7K

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

$27.68 ISK 3,447

$20.17 ISK 2,512

$40.34 ISK 5,024

Internet (50+ Mbps, Unlimited Data)

$86.6 ISK 10.8K

$60.3 ISK 7,515

$129 ISK 16.0K

Gym Membership (Monthly)

$80.8 ISK 10.1K

$62.4 ISK 7,770

$118 ISK 14.8K

Tennis Court (1 Hour on Weekend)

$37.16 ISK 4,629

$16.73 ISK 2,084

$59.7 ISK 7,440

Cinema Ticket

$17.57 ISK 2,189

$14.45 ISK 1,800

$19.26 ISK 2,399

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

$351 ISK 43.7K

$282 ISK 35.1K

$472 ISK 58.7K

International Primary School, 1 Child (Yearly)

$29.8K ISK 3.7M

Jeans (Levis 501 Or Similar)

$140 ISK 17.5K

$81.4 ISK 10.1K

$187 ISK 23.3K

Summer Dress (H&M, Zara, etc)

$63.8 ISK 7,945

$40.29 ISK 5,018

$105 ISK 13.0K

Sport Shoes (Adidas, Nike)

$176 ISK 21.9K

$122 ISK 15.2K

$243 ISK 30.3K

Men's Leather Business Shoes

$258 ISK 32.1K

$147 ISK 18.3K

$327 ISK 40.7K

1-bedroom Apartment, City Center (Monthly)

$2,242 ISK 279.2K

$1,794 ISK 223.4K

$2,772 ISK 345.2K

1-bedroom Apartment, Outside City Center (Monthly)

$2,009 ISK 250.3K

$1,618 ISK 201.6K

$2,427 ISK 302.3K

3-bedroom Apartment, City Center (Monthly)

$3,203 ISK 398.9K

$2,845 ISK 354.4K

$4,065 ISK 506.3K

3-bedroom Apartment, Outside City Center (Monthly)

$2,724 ISK 339.2K

$2,417 ISK 301.0K

$3,223 ISK 401.4K

Buy Apartment in City Center (m2)

$7,357 ISK 916.3K

$6,294 ISK 783.9K

$8,654 ISK 1.1M

Buy Apartment Outside City Center (m2)

$6,206 ISK 772.9K

$5,236 ISK 652.2K

$7,250 ISK 903.0K

Average Monthly Net Salary (After Tax)

$4,469 ISK 556.7K

20-Year Fixed Mortgage Interest Rate (Annual %)

9.88

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

Last update: January 20, 2026

By City in Iceland

Lowest

Highest

Rank	City	Population	Living Index	Solo costs (no rent) / month	Solo costs (with rent) / month	Family of 3 costs (no rent) / month	Family of 3 costs (with rent) / month	Mobile download speed (Mbps)	Internet download speed (Mbps)
1	Akranes	7800	176	$1,663	$3,460	$4,480	$7,824	230.95	414.46
2	Akureyri	-		$1,033	$2,888	$2,606	$4,934	14.83	330.04
3	Bakkafjordur	100		$225	$247	$663	$603	100.88	409.28
4	Blonduos	900	81	$1,585	$1,586	$4,295	$4,102	151.65	403.21
5	Bolungarvik	900						36.5	475.06
6	Drangsnes	100	81	$1,369	$1,603	$3,923	$4,076	112.99	229.47
7	Egilsstadir	2500		$601	$614	$1,235	$1,426	42.38	210.71
8	Grundarfjordur	800	81	$1,298	$1,598	$4,136	$4,083	111.37	142.69
9	Hafnarfjordur	31525	186	$1,593	$3,693	$4,531	$6,905	138.01	409.09
10	Hallormsstadur	-						138.53	210.71
11	Hella	900	81	$1,394	$1,621	$4,354	$4,033	94.76	255.81
12	Husavik	2300						18.17	148.73
13	Hverageroi	-	81	$1,510	$1,595	$4,000	$3,999	-	-
14	Isafjordur	2600						39.91	389.45
15	Keflavik	15000	144	$1,517	$2,888	$4,247	$5,911	92.08	316.1
16	Kirkjubaejarklaustur	500	81	$1,615	$1,608	$4,490	$3,997	19.28	131.02
17	Kopavogur	39335	87	$1,507	$1,741	$3,660	$3,994	139.78	365.74
18	Njardvik	6000	154	$1,667	$3,116	$3,180	$6,580	11.52	316.1
19	Reykjahlid	300		$162	$176	$304	$337	60.61	290.19
20	Reykjavik	136894	192	$1,682	$3,810	$4,433	$7,293	74.64	371.14
21	Selfoss	9000		$584	$3,576	$1,381	$1,401	46.67	429.82

Iceland Median Internet Speeds (Updated December 2025)

Mobile

Mbps

Fixed Broadband

356

Mbps

294

Mbps

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

Digital Nomad Cost of Living Index

Cost of Living in Iceland - Frequently Asked Questions

Iceland tends to be more expensive than many popular destinations, but the value shows up in safety, reliability, and access to stunning landscapes. Cost of Living in Iceland reflects a balance between high import costs and strong social services, good healthcare, and robust internet. For travelers on short trips, the price tag can feel premium, but long stays for expats and digital nomads pay off with quality infrastructure, reliable transport, and a thriving, safe environment. Community, nature, and wellness options add intangible value that’s hard to quantify. Plan around seasonal swings and look beyond Reykjavik to more affordable rural towns. Tip: Map your priorities and build a two-tier budget that covers housing first, then experiences.

Expect a housing search that rewards longer commitments and proximity to services; in Reykjavik and the surrounding towns, you’ll find a mix of compact apartments and houses, with central-area rents often higher. Groceries lean on dairy, seafood, and seasonal produce; cooking at home stays economical relative to dining out, and markets appear in many neighborhoods. Transport is reliable in cities with buses and bikes and convenient domestic flights for longer hops; in rural areas, a car or coordinated shuttle helps. Co-working spaces are common in city centers, making it easy to work remotely. Iceland living cost aside, plan for seasonal shifts in demand and weather. Tip: test your daily routes during rush hour and choose a neighborhood that minimizes long commutes.

Quality of life in Iceland shines with safety, nature access, and a calm pace of life that suits outdoor lovers and remote workers. Build a budgeting framework around housing, groceries, transport, and occasional experiences, then set flexible limits for dining out or weekend trips. Seasonal variations affect income and expenses in practice, with more daylight in summer creating longer outdoor windows and harsher travel crowds in peak seasons; choose neighborhoods that balance easy commutes with access to nature. Save by cooking at home, buying seasonal produce, and using public transport or shared rides. Tip: pick a base town with good flight access and varied services, then reserve time for weekend explorations.