Cost of living in Reykjavik, Iceland

Summary of cost of living in Reykjavik

  • Family of four estimated monthly costs: 964,747 kr
  • Single person estimated monthly costs: 472,801 kr
  • WARNING!  These estimates are based on only a few data points. At the moment, you should treat them only as a best guess.

List of prices in Reykjavik
Current as of Feb 2024.

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Food Update prices
Basic lunchtime menu (including a drink) in the business district 3,734 kr
Combo meal in fast food restaurant (big mac meal or similar) 2,912 kr
500 gr (1 lb.) of boneless chicken breast 1,336 kr
1 liter (1 qt.) of whole fat milk 230 kr
12 eggs, large 969 kr
1 kg (2 lb.) of tomatoes 671 kr
500 gr (16 oz.) of local cheese 1,308 kr
1 kg (2 lb.) of apples 357 kr
1 kg (2 lb.) of potatoes 429 kr
0.5 l (16 oz) domestic beer in the supermarket 570 kr
1 bottle of red table wine, good quality 3,780 kr
2 liters of coca-cola 348 kr
Bread for 2 people for 1 day 469 kr
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Housing Update prices
Monthly rent for 85 m2 (900 sqft) furnished accommodation in expensive area 331,145 kr
Monthly rent for 85 m2 (900 sqft) furnished accommodation in normal area 275,733 kr
Utilities 1 month (heating, electricity, gas ...) for 2 people in 85m2 flat 47,688 kr
Monthly rent for a 45 m2 (480 sqft) furnished studio in expensive area 235,307 kr
Monthly rent for a 45 m2 (480 sqft) furnished studio in normal area 167,660 kr
Utilities 1 month (heating, electricity, gas ...) for 1 person in 45 m2 (480 sqft) studio 38,801 kr
Internet 8 mbps (1 month) 11,785 kr
40” flat screen tv 102,930 kr
Microwave 800/900 watt (bosch, panasonic, lg, sharp, or equivalent brands) 28,871 kr
Laundry detergent (3 l. ~ 100 oz.) 2,604 kr
Hourly rate for cleaning help 5,948 kr
Clothes Update prices
1 pair of jeans (levis 501 or similar) 19,374 kr
1 summer dress in a high street store (zara, h&m or similar retailers) 12,510 kr
1 pair of sport shoes (nike, adidas, or equivalent brands) 26,016 kr
1 pair of men’s leather business shoes 33,818 kr
Transportation Update prices
Volkswagen golf 1.4 tsi 150 cv (or equivalent), with no extras, new 5,926,530 kr
1 liter (1/4 gallon) of gas 319 kr
Monthly ticket public transport 11,385 kr
Taxi trip on a business day, basic tariff, 8 km. (5 miles) 9,928 kr
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Personal Care Update prices
Cold medicine for 6 days (tylenol, frenadol, coldrex, or equivalent brands) 1,380 kr
1 box of antibiotics (12 doses) 1,917 kr
Short visit to private doctor (15 minutes) 11,410 kr
1 box of 32 tampons (tampax, ob, ...) 697 kr
Deodorant, roll-on (50ml ~ 1.5 oz.) 690 kr
Hair shampoo 2-in-1 (400 ml ~ 12 oz.) 723 kr
4 rolls of toilet paper 640 kr
Tube of toothpaste 448 kr
Standard men's haircut in expat area of the city 6,515 kr
Entertainment Update prices
Basic dinner out for two in neighborhood pub 10,481 kr
2 tickets to the movies 3,967 kr
2 tickets to the theater (best available seats) 14,457 kr
Dinner for two at an italian restaurant in the expat area including appetisers, main course, wine and dessert 22,876 kr
1 cocktail drink in downtown club 2,976 kr
Cappuccino in expat area of the city 700 kr
1 beer in neighbourhood pub (500ml or 1pt.) 1,332 kr
Ipad wi-fi 128gb 106,630 kr
1 min. of prepaid mobile tariff (no discounts or plans) 57 kr
1 month of gym membership in business district 15,359 kr
1 package of marlboro cigarettes 1,796 kr
WARNING!  These prices are based on only a few data points. At this point they are mostly a guess. They are based on 210 prices entered by 30 different people.
Latest price update: February 27, 2024

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International Cost of Living Index

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