Cost of Living in Iceland
The population of Iceland is 364,260. The average cost of living in Iceland is $3224 and the median after-tax salary is $3030.17
|
Restaurants |
Price |
World Range |
|---|---|---|
|
Meal, Inexpensive Restaurant |
17.12 $ |
|
|
Meal for 2 People, Mid-range Restaurant, Three-course |
95.86 $ |
|
|
McMeal at McDonalds (or Equivalent Combo Meal) |
13.69 $ |
|
|
Domestic Beer (1 pint draught) |
8.22 $ |
|
|
Imported Beer (12 oz small bottle) |
7.19 $ |
|
|
Cappuccino (regular) |
4.17 $ |
|
|
Coke/Pepsi (12 oz small bottle) |
2.36 $ |
|
|
Water (12 oz small bottle) |
1.85 $ |
|
|
Markets |
Price |
World Range |
|---|---|---|
|
Milk (regular), (1 gallon) |
1.34 $ |
|
|
Loaf of Fresh White Bread (1 lb) |
3.02 $ |
|
|
Rice (white), (1 lb) |
2.77 $ |
|
|
Eggs (regular) (12) |
5.06 $ |
|
|
Local Cheese (1 lb) |
12.49 $ |
|
|
Chicken Fillets (1 lb) |
15.37 $ |
|
|
Beef Round (1 lb) (or Equivalent Back Leg Red Meat) |
22.77 $ |
|
|
Apples (1 lb) |
2.76 $ |
|
|
Banana (1 lb) |
2.07 $ |
|
|
Oranges (1 lb) |
2.24 $ |
|
|
Tomato (1 lb) |
4.0 $ |
|
|
Potato (1 lb) |
2.33 $ |
|
|
Onion (1 lb) |
1.26 $ |
|
|
Lettuce (1 head) |
2.36 $ |
|
|
Water (1.5 liter bottle) |
1.71 $ |
|
|
Bottle of Wine (Mid-Range) |
17.12 $ |
|
|
Domestic Beer (0.5 liter bottle) |
2.87 $ |
|
|
Imported Beer (12 oz small bottle) |
2.5 $ |
|
|
Cigarettes 20 Pack (Marlboro) |
10.54 $ |
|
|
Transportation |
Price |
World Range |
|---|---|---|
|
One-way Ticket (Local Transport) |
3.36 $ |
|
|
Monthly Pass (Regular Price) |
54.78 $ |
|
|
Taxi Start (Normal Tariff) |
5.07 $ |
|
|
Taxi 1 mile (Normal Tariff) |
2.4 $ |
|
|
Taxi 1hour Waiting (Normal Tariff) |
54.23 $ |
|
|
Gasoline (1 gallon) |
2.02 $ |
|
|
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) |
28757.27 $ |
|
|
Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) |
32047.42 $ |
|
|
Utilities (Monthly) |
Price |
World Range |
|---|---|---|
|
Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment |
106.62 $ |
|
|
1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) |
0.15 $ |
|
|
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) |
64.03 $ |
|
|
Sports And Leisure |
Price |
World Range |
|---|---|---|
|
Fitness Club, Monthly Fee for 1 Adult |
58.92 $ |
|
|
Tennis Court Rent (1 Hour on Weekend) |
31.67 $ |
|
|
Cinema, International Release, 1 Seat |
11.64 $ |
|
|
Childcare |
Price |
World Range |
|---|---|---|
|
Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child |
262.47 $ |
|
|
International Primary School, Yearly for 1 Child |
5048.5 $ |
|
|
Clothing And Shoes |
Price |
World Range |
|---|---|---|
|
1 Pair of Jeans (Levis 501 Or Similar) |
107.87 $ |
|
|
1 Summer Dress in a Chain Store (Zara, H&M, ...) |
50.21 $ |
|
|
1 Pair of Nike Running Shoes (Mid-Range) |
139.95 $ |
|
|
1 Pair of Men Leather Business Shoes |
170.67 $ |
|
|
Rent Per Month |
Price |
World Range |
|---|---|---|
|
Apartment (1 bedroom) in City Centre |
1307.6 $ |
|
|
Apartment (1 bedroom) Outside of Centre |
1057.94 $ |
|
|
Apartment (3 bedrooms) in City Centre |
1854.8 $ |
|
|
Apartment (3 bedrooms) Outside of Centre |
1622.55 $ |
|
|
Buy Apartment Price |
Price |
World Range |
|---|---|---|
|
Price per Square Feet to Buy Apartment in City Centre |
4884.47 $ |
|
|
Price per Square Feet to Buy Apartment Outside of Centre |
3742.8 $ |
|
|
Salaries And Financing |
Price |
World Range |
|---|---|---|
|
Average Monthly Net Salary (After Tax) |
3030.17 $ |
|
|
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate |
5.55 % |
|
Iceland
TERRORISM RISK: LOW
There haven't been any terrorist attacks in Iceland's recent history. However, they shouldn't be ruled out, so remain aware of your surroundings at all times.
OVERALL RISK: LOW
Iceland is a very safe country to visit. It is actually considered the safest country in the world, which still doesn't mean that you should completely relax: petty crime has recently been on the rise in the capital city, Reykjavik.
TRANSPORT & TAXIS RISK: LOW
Taxis and other means of transportation are very safe and reliable in Iceland.
PICKPOCKETS RISK: LOW
There is almost no pickpocketing in Iceland, it is a country that boasts extremely low crime rates. Avoid flashing your valuables in public, or leaving them in plain sight and you should encounter no problems.
NATURAL DISASTERS RISK: LOW
The biggest threats for tourists in Iceland actually lie in nature. The most important thing for tourists and visitors is to monitor local news for information on the weather (since it can change very quickly) and follow the advice of authorities as well as the signs you see on the road, or anywhere in nature.
MUGGING RISK: LOW
Mugging is uncommon in Iceland, and so is kidnapping. However, as in any country, it is recommended that you remain vigilant at all times. Be wary of people trying to distract you, as it might be a trick to try to steal from you.
SCAMS RISK: LOW
Scams are also not common in this country, but you should use your common sense and double-check everything. Be wary of people offering you help with anything or giving you unsolicited advice or directions.
WOMEN TRAVELERS RISK: LOW
Iceland is very safe for women traveling solo, probably one of the safest countries for female travelers. Just follow the rules of common sense such as avoiding deserted and poorly lit streets and areas, and your trip should go smoothly.
Visas
Many countries do not need a visa to enter Iceland, just make sure that your passport is valid during the duration of your stay: no additional validity is needed. Since Iceland is part of the Schengen Agreement, a Schengen visa is valid. However, if you are not sure about your visa status, visit www.doyouneedvisa.com which will let you know whether or not you need a visa based on your nationality and the country you want to visit.
Currency
Icelandic króna is the official currency in Iceland. ATMs are widely used and available, and credit cards are accepted and used throughout the country.
Weather
Iceland is gorgeous to visit year-round. Despite its name, the climate in Iceland is rather mild. Generally, the southern part of the country has a somewhat wetter and warmer climate than the north part, and the coldest part of Iceland is the Central Highlands.
Airports
Keflavík International Airport also known as Reykjavík–Keflavík Airport, is the largest airport in Iceland and located about 50 km southwest of Reykjavik.
Travel Insurance
Just like anywhere else, we recommend getting travel insurance when traveling to Iceland, since it covers not only medical problems but also theft and loss of valuables.