Cost of living in Reykjavik, Iceland

Summary of cost of living in Reykjavik

  • Family of four estimated monthly costs: 740,559 kr
  • Single person estimated monthly costs: 386,545 kr
  • Cost of living in Reykjavik is more expensive than in 95% of cities in Western Europe (5 out of 83)
  • Cost of living in Reykjavik is more expensive than in 95% of cities in the World (14 out of 272)

List of prices in Reykjavik
Current as of May 2022.

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Food Update prices
Basic lunchtime menu (including a drink) in the business district 2,825 kr
Combo meal in fast food restaurant (big mac meal or similar) 2,053 kr
500 gr (1 lb.) of boneless chicken breast 1,018 kr
1 liter (1 qt.) of whole fat milk 186 kr
12 eggs, large 763 kr
1 kg (2 lb.) of tomatoes 643 kr
500 gr (16 oz.) of local cheese 999 kr
1 kg (2 lb.) of apples 352 kr
1 kg (2 lb.) of potatoes 390 kr
0.5 l (16 oz) domestic beer in the supermarket 463 kr
1 bottle of red table wine, good quality 2,821 kr
2 liters of coca-cola 321 kr
Bread for 2 people for 1 day 431 kr
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Housing Update prices
Monthly rent for 85 m2 (900 sqft) furnished accommodation in expensive area 282,454 kr
Monthly rent for 85 m2 (900 sqft) furnished accommodation in normal area 240,229 kr
Utilities 1 month (heating, electricity, gas ...) for 2 people in 85m2 flat 19,819 kr
Monthly rent for a 45 m2 (480 sqft) furnished studio in expensive area 187,184 kr
Monthly rent for a 45 m2 (480 sqft) furnished studio in normal area 160,211 kr
Utilities 1 month (heating, electricity, gas ...) for 1 person in 45 m2 (480 sqft) studio 20,865 kr
Internet 8 mbps (1 month) 7,942 kr
40” flat screen tv 91,767 kr
Microwave 800/900 watt (bosch, panasonic, lg, sharp, or equivalent brands) 26,771 kr
Laundry detergent (3 l. ~ 100 oz.) 2,082 kr
Hourly rate for cleaning help 4,144 kr
Clothes Update prices
1 pair of jeans (levis 501 or similar) 16,475 kr
1 summer dress in a high street store (zara, h&m or similar retailers) 8,266 kr
1 pair of sport shoes (nike, adidas, or equivalent brands) 20,487 kr
1 pair of men’s leather business shoes 26,371 kr
Transportation Update prices
Volkswagen golf 1.4 tsi 150 cv (or equivalent), with no extras, new 3,937,100 kr
1 liter (1/4 gallon) of gas 247 kr
Monthly ticket public transport 12,696 kr
Taxi trip on a business day, basic tariff, 8 km. (5 miles) 3,911 kr
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Personal Care Update prices
Cold medicine for 6 days (tylenol, frenadol, coldrex, or equivalent brands) 1,391 kr
1 box of antibiotics (12 doses) 1,999 kr
Short visit to private doctor (15 minutes) 6,314 kr
1 box of 32 tampons (tampax, ob, ...) 695 kr
Deodorant, roll-on (50ml ~ 1.5 oz.) 621 kr
Hair shampoo 2-in-1 (400 ml ~ 12 oz.) 742 kr
4 rolls of toilet paper 528 kr
Tube of toothpaste 392 kr
Standard men's haircut in expat area of the city 6,072 kr
Entertainment Update prices
Basic dinner out for two in neighborhood pub 6,554 kr
2 tickets to the movies 3,278 kr
2 tickets to the theater (best available seats) 11,687 kr
Dinner for two at an italian restaurant in the expat area including appetisers, main course, wine and dessert 14,878 kr
1 cocktail drink in downtown club 2,535 kr
Cappuccino in expat area of the city 616 kr
1 beer in neighbourhood pub (500ml or 1pt.) 1,191 kr
Ipad wi-fi 128gb 85,437 kr
1 min. of prepaid mobile tariff (no discounts or plans) 21 kr
1 month of gym membership in business district 7,344 kr
1 package of marlboro cigarettes 1,511 kr
These prices are based on abundant and consistent data. They are very reliable. They are based on 92 prices entered by 13 different people.
Latest price update: May 18, 2022

Reykjavik position in our World Ranking

the world
14th
out of 272
western europe
5th
out of 83

Cheapest and most expensive products in Reykjavik compared to other cities:

the world
1st
the world
2nd
the world
3rd
the world
3rd
the world
4th
the world
4th

Do you live in Reykjavik? We need your help!

What is the price of

Volkswagen Golf 1.4 TSI 150 CV (or equivalent), with no extras, new

in Reykjavik?

kr

International Cost of Living Index

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Prices recently added

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