Iceland (IS)
Iceland is a North Atlantic volcanic island nation of extraordinary natural beauty — home to geysers, glaciers, lava fields, midnight sun, the Northern Lights, and some of the world's most active volcanoes.
Capital: Reykjavik
Region: Europe
Language: Icelandic
Currency: ISK (kr)
Cost of living: Expensive (index 85)
Emergency: 112
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Cost of Living
Real prices in Iceland — 2026 data in ISK.
85
Cost of living index
(100 = NYC reference)
Above average cost. Budget carefully, especially for housing and groceries.
Food & Groceries
Milk (1 litre) ISK 250–320
Bread (loaf) ISK 350–600
Eggs (12, free-range) ISK 650–900
Chicken breast (1 kg) ISK 1,800–2,500
Icelandic lamb (1 kg — iconic Icelandic product) ISK 2,500–4,000
Cod fillet (1 kg, fresh — Iceland is a fishing nation) ISK 2,000–3,500
Skyr (500 g — traditional Icelandic dairy) ISK 320–500
Cheese (400 g) ISK 600–1,200
Pasta (500 g) ISK 280–450
Tomatoes (1 kg) ISK 650–1,000
Beer 6-pack (Egils — Vínbúðin off-licence) ISK 2,200–2,800
Wine (bottle — Vínbúðin) ISK 2,500–5,000+
Dining Out
Icelandic hot dog (Bæjarins Beztu — iconic Reykjavik landmark) ISK 580
Lunch special (soup + bread at café) ISK 1,800–2,800
Fish and chips at harbour ISK 2,500–3,800
Main course at mid-range restaurant ISK 3,500–6,000
Pizza (take-out) ISK 2,500–4,500
Burger at casual restaurant ISK 2,200–3,500
Coffee (flat white / cappuccino) ISK 650–950
Beer at bar (0.5 litre) ISK 1,200–1,800
Glass of wine at restaurant ISK 1,800–2,800
3-course dinner at nice restaurant (per person, excl. drinks) ISK 8,000–15,000
Tasting menu at top restaurant (e.g., Dill) ISK 18,000–28,000
Rent
Studio apartment, Reykjavik city centre (monthly) ISK 150,000–220,000
1-bedroom apartment, Reykjavik city centre (monthly) ISK 180,000–280,000
1-bedroom apartment, suburbs (Hafnarfjörður / Kópavogur, monthly) ISK 160,000–230,000
2-bedroom apartment, Reykjavik city centre (monthly) ISK 250,000–380,000
3-bedroom apartment, Reykjavik city centre (monthly) ISK 350,000–550,000
Single room in shared flat (monthly) ISK 90,000–140,000
Transport
Strætó single bus ticket ISK 590
Strætó monthly pass ISK 11,900–14,900
Flybus airport transfer (basic, one-way) ISK 3,499
Taxi within Reykjavik (5 km) ISK 2,500–4,000
Petrol (1 litre, unleaded) ISK 290–340
Car rental (economy, per day) ISK 8,000–18,000
4WD rental (for F-roads, per day) ISK 20,000–50,000
Domestic flight (Reykjavik to Akureyri, one-way) ISK 8,000–20,000
Health & Insurance
GP visit (co-payment) ISK 1,100–1,500
Specialist visit (co-payment, public) ISK 1,500–3,000
Dental check-up (adult, private) ISK 12,000–20,000
Dental filling (adult, private) ISK 15,000–35,000
Prescription medication (standard Sjúkratryggingar co-pay) ISK 500–2,500
Utilities
Geothermal heating and hot water (monthly) ISK 5,000–12,000
Electricity (monthly) ISK 8,000–15,000
Cold water (monthly) ISK 2,000–4,000
Internet (broadband, monthly) ISK 5,000–9,000
Mobile phone (plan with data, monthly) ISK 3,000–7,000
Childcare
Leikskóli / preschool (state, ages 0–6, monthly parent fee) ISK 25,000–55,000
Private leikskóli (monthly) ISK 55,000–90,000
Grunnskóli (public primary school) Free
International school (annual) ISK 1,000,000–3,000,000
Babysitter (per hour) ISK 1,500–2,500
Leisure
Swimming pool (sundlaug — Icelanders' daily ritual, entry) ISK 1,000–1,400
Gym membership (monthly) ISK 7,000–12,000
Blue Lagoon entry (standard) ISK 9,490–11,990
Cinema ticket ISK 1,800–2,500
Whale watching tour ISK 9,900–15,000
Northern lights tour ISK 9,900–20,000
Glacier hiking tour ISK 12,000–25,000
Reykjavik City Card (24 hours) ISK 5,500
National museum entry ISK 2,000
Cost of Living
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