12 cities covered · Currency: ISK (kr) · Capital: Reykjavík
| Expense | Estimated cost | Basis |
|---|---|---|
| Meal at an inexpensive restaurant | kr1,646 ($11.93) | per meal |
| Three-course meal for two, mid-range | kr6,583 ($47.70) | per meal |
| Cappuccino | kr494 ($3.58) | each |
| Monthly groceries (single person) | kr37,301 ($270) | per month |
| Monthly public transport pass | kr6,034 ($43.73) | per month |
| Basic utilities for an 85m² apartment | kr15,908 ($115) | per month |
| Internet (60 Mbps, unlimited) | kr4,608 ($33.39) | per month |
| Fitness club membership | kr4,608 ($33.39) | per month |
| Cinema ticket | kr1,207 ($8.75) | each |
| One-bedroom apartment in city centre | kr93,880 ($680) | per month |
| One-bedroom apartment outside centre | kr65,308 ($473) | per month |
| Three-bedroom apartment in city centre | kr195,923 ($1,420) | per month |
Reykjavík · pop. 138,772
Kópavogur · pop. 40,040
Hafnarfjörður · pop. 31,525
Reykjanesbær · pop. 23,329
Garðabær · pop. 20,116
Akureyri · pop. 20,050
Sveitarfélagið Árborg · pop. 9,812
Ísafjarðarbær · pop. 2,620
Skagafjörður · pop. 2,574
Múlaþing · pop. 2,572
Sveitarfélagið Hornafjörður · pop. 2,389
Borgarbyggð · pop. 2,181
Side-by-side cost of living comparison in Iceland
Side-by-side cost of living comparison in Iceland
Side-by-side cost of living comparison in Iceland
Side-by-side cost of living comparison in Iceland
Living costs in Iceland vary significantly depending on city size. Large metropolitan areas with populations over one million typically see housing costs 15–30% above the national average, while smaller towns can be 10–20% below it. The national baseline of kr175,018 ($1,268) per month represents a mid-sized city estimate.
Capital cities and major economic hubs command the highest rents and overall expenses. For budget-conscious residents, mid-sized cities offer a balance of amenities and affordability. Rural and small-town living remains the most economical option, though transport and service access may be limited.