See also: food prices Prices in restaurants entertainment costs
Cost of living and expenses in Iceland
What are the costs of living, how much do you have to spend on fees and expenses in Iceland?
What is the cost of a mortgage, what are the average earnings in Iceland, and how much do you have to spend on clothes or a flat in the centre or on the outskirts of the city?
Below you will read about the expenses, fees, rental prices, how much you have to pay for clothes or shoes and the cost of living in Iceland
(The last update: 4 days ago)
Currency in Iceland Icelandic króna (ISK). For 10 US dollars you can get 1.39 thousand Icelandic krónur. For 100 US dollars you can get 13.9 thousand Icelandic krónur. And the other way around: For 100 Icelandic krónur you can get 0.72 US dollars.
See also how prices have changed in previous years: Price changes in previous years in Iceland
What are the different prices in the cities in Iceland? Look here: Prices in cities in Iceland
Prices: Reykjavik Kópavogur Akureyri Keflavik Egilsstadir Hafnarfjorour Akranes Grundarfjordur Vik i Myrdal Vogar
fees
$106 ($50 - $180)
by half less than in United States
internet
$71 ($47 - $111)
Very much like in United States
jeans
$117 ($59 - $144)
120% more than in United States
average earnings
$4.17K
8.5% is less expensive than in United States
renting a small apartment in the center
$1.75K ($1.22K - $2.16K)
1.7% is less expensive than in United States
renting a large apartment outside the center
$2.22K ($1.58K - $3.24K)
8.1% is less expensive than in United States
The cost of living in Iceland:
- One-way Ticket (Local Transport) $4.1 (ISK 570)
- Monthly Pass (Regular Price) $67 (ISK 9.3K)
- Gasoline (1 liter) $2.2 (ISK 311)
- Volkswagen Golf 1.4 90 KW (or equivalent new car) $37.4K (ISK 5.2M)
- Apartment (1 bedroom) in city centre $1.75K (ISK 243K)
- Apartment (1 bedroom) outside of centre $1.56K (ISK 216K)
- Apartment (3 bedrooms) in city centre $2.46K (ISK 341K)
- Apartment (3 bedrooms) outside of centre $2.22K (ISK 309K)
- Utilities (electricity, heating, water, garbage) for an 85m2 apartment $106 (ISK 14.8K)
- Internet (60 Mbps or more, unlimited data, cable/ADSL) $71 (ISK 9.87K)
- numb_34 $24 (ISK 3.32K)
- 1 pair of jeans (Levis 501 or similar) $117 (ISK 16.2K)
- 1 Summer Dress in a Chain Store (Zara, H&M,...) $51 (ISK 7.09K)
- 1 pair of Nike running shoes or similar $151 (ISK 21K)
- 1 pair of men's leather shoes $179 (ISK 24.9K)
- Toyota Corolla 1.6l, 97kW Comfort (or equivalent new car) $42.2K (ISK 5.86M)
- Preschool (or Kindergarten), Private, Monthly for 1 Child $270 (ISK 37.5K)
- Price per square meter for an apartment in the city center $5.78K (ISK 802K)
- International Primary School, Annually for 1 Child $5.59K (ISK 776K)
- Price per square meter for an apartment outside of city centre $4.71K (ISK 654K)
- Average Monthly Net Salary (After Tax) $4.17K (ISK 579K)
- Mortgage annual interest rate in percentages (%) 7.4%
- Taxi starting fare (normal tariff) $5.3 (ISK 730)
- Taxi 1km (Normal Tariff) $2.3 (ISK 324)
- Taxi 1 hour waiting (normal tariff) $67 (ISK 9.36K)
Price changes in previous years in Iceland
Price changes in One Square Meter Of An Apartment In The Center over the years: 2013: $2.59K(ISK 360K), 2014: $2.4K(ISK 333K), 2015: $2.76K(ISK 384K), 2016: $3.05K(ISK 424K), 2017: $3.92K(ISK 544K), and 2018: $4.01K(ISK 557K)
Have earnings increased in Iceland?
See the average salary in previous years in 2012: $1.58K(ISK 220K), 2013: $1.96K(ISK 272K), 2014: $1.91K(ISK 265K), 2015: $2.1K(ISK 292K), 2016: $2.13K(ISK 295K), 2017: $2.47K(ISK 344K), and 2018: $2.7K(ISK 374K)
Price changes in Fees over the years: 2012: $116(ISK 16.1K), 2013: $75(ISK 10.4K), 2014: $109(ISK 15.2K), 2015: $115(ISK 16K), 2016: $74(ISK 10.3K), 2017: $105(ISK 14.6K), and 2018: $89(ISK 12.3K)
Price changes in Internet over the years: 2012: $43(ISK 5.99K), 2013: $60(ISK 8.3K), 2014: $52(ISK 7.21K), 2015: $57(ISK 7.91K), 2016: $48(ISK 6.69K), 2017: $45(ISK 6.21K), and 2018: $52(ISK 7.16K)
Have prices changed in clothing stores in Iceland in recent years?
For example, this is how the prices of jeans have changed in 2012: $151(ISK 21K), 2014: $131(ISK 18.1K), 2015: $134(ISK 18.6K), 2016: $123(ISK 17.1K), 2017: $109(ISK 15.1K), and 2018: $98(ISK 13.7K)
Do you want to learn more about different prices? See the following comparison:
wine
$20 ($14.4 - $32)
34% more than in United States
internet
$71 ($47 - $111)
Very much like in United States
Burger King or a similar bar
$16.6 ($14.3 - $18)
by half more than in United States
bottle of water
$2.1 ($1.4 - $3.5)
1.7% more than in United States
jeans
$117 ($59 - $144)
120% more than in United States
bananas
$2.2 ($1.8 - $3.6)
30% more than in United States