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Cost of living in Iceland

Compare the cost of your home country to the actual living costs in Iceland, simply select your home currency and see the difference!

All data is kept up to date by local members and actual students. Our latest update was on: 30th of June 2020

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Food Price in Bs
12 eggs dozen, large 12.50 BOB
1 beer pint in local shops, markets 7 BOB
1 kg of tomatoes 8.50 BOB
Full chicken 2kg 38.75 BOB
1litre 100% fruit juice 8.50 BOB
1 package of cigarettes imported brands 25 BOB
1 kg (2 lb.) of apples 7.50 BOB
1 bottle of red table wine, good quality 48.95 BOB
2.5 liters of Coca-Cola 0.95 BOB
1 Bread loaf standard 9.50 BOB
Whole fat Yogurt. 500ml 12 BOB
1x6 pack Dardanelle tuna 18.50 BOB
Heinz baked beans 1 tin 8 BOB
1.5 kg Sugar 10 BOB
2 liter cooking oil 20 BOB
Yum-yum noodles per pack 2.00 BOB
1 kg (2 lb.) of potatoes 5.50 BOB
1 liter milk 8.50 BOB
Fast food restaurant large serving/ take away 25 BOB
Housing
Utilities per month (water, electricity, gas) for 2 people in flat 165 BOB
Wi-Fi monthly fee 8 Mbps (1 month) 145 BOB
Laundry detergent (bleach, sunlight liquid, washing surf… altogether) 58.50 BOB
House Cleaning fee per day 105 BOB
Large Gas heater price range upwards. 200 BOB
Original branded Electric Fans 200 BOB
Original branded Electric kettle. 120 BOB
40 inches Beko flat screen HD TV set 2000 BOB
Single bed Blankets 120 BOB
Personal Care
Avon for women and men cologne 100 BOB
Ladies hair plaiting. 60 BOB
Ladies Sanitaryware (Pads and Tampoons) 18 BOB
Men's haircut 40 BOB
Ibuprofen, Panadol, Grandpa Pain killers box of 12 dosses 24.50 BOB
Mobile package local network providers’ talk-time, data and messages 65 BOB
1 month of gym subscription. 105 BOB
Earphones original (Samsung. iPhone) 90 BOB
Unisex Loris perfume 30 BOB
Gadgets maintenance and repairs (cellphone, laptops, tablets...) starting price. 100 BOB
Smart phones (Samsung, Xiaomi, HTC, IPhone) price range upwards 1000 BOB
Laptops (Samsung, Lenovo, Hp, Monster, Dell etc.) price range upwards 3000 BOB
Entertainment
Boat cruise with refreshments and finger snacks 120 BOB
Go carting 30mins 120 BOB
Movie House 3d cinema 30 BOB
Summer Festivals (jet, bumper cars, lucky deep ...(per ticket) 15 BOB
Photo shoot 120 BOB
Cappuccino / expresso/ coffee 12.50 BOB
3 course dinner local restaurant two people 96.50 BOB
3 course dinner classy, exotic restaurant two people 150 BOB
Play station 4 console without games. 2000 BOB
Spalding Basketball 200 BOB
Original branded Racket and Wilson’s tennis balls 500 BOB
Transportation
Taxi fare on average 5-10km 45 BOB
Public transport per trip one way maximum fare 30 BOB
1 liter petrol/diesel 6.50 BOB
1 day rent a car cost 140 BOB
Driver’s license 2300 BOB
Clothes
1 pair of jeans (Denim or similar) 150 BOB
1 pair of men’s formal shoes 215 BOB
1 pair original sport/casual shoes (Nike, Adidas, or equivalent brands) 280 BOB
1 classy summer dress (Zara, H&M or similar retailers) 135.79 BOB
Ladies formal shoes original and durable 120 BOB
Back-pack, gym bag (Nike, Adidas, New balance) 150 BOB

Iceland has a good number of nationalities and backgrounds which makes it very exciting to live in. The cost of living as with any country is dependent on the location and individual lifestyles. Larger cities typically are more expensive to live in than smaller cities and areas.

Likewise in Europe, the proximity to the city center or the middle of the city is very crucial to determining the costs of certain things. The largest population of the country’s residents live in the capital city Reyjavik and we will be providing the cost of living for the city.

Food:

Iceland has some of the best food shop chains in the world. One very popular one is Bonus, which has some of the freshest food produced in the country at very affordable prices. Many food markets offer their own cheaper line of food selection, and people can save a lot of money from this.

The quality is also very good and can be obtained across the country. Restaurant chains thrive very well in Iceland and have very favorable prices as well. Meals for one individual can cost around €10 to €15.

Rent and accommodation costs:

A typical one-bedroom apartment around the city center starts from €1,200 to €1,800. The same one-bedroom apartment outside the city center would cost about €800 to €1,400 in a month which is almost twice as much in most European countries. But the good thing is that students can share apartments and split the costs equally amongst themselves.

Utility costs:

Utility costs in Iceland are all combined so utilities such as electricity, heating, gas, internet, and others can add on an extra €160 a month.

Transportation:

Iceland has one of the best and most efficient transport systems in Europe. There are all sorts of different transport means to travel around the country. Trams, buses, trains, metro, ferries, taxis, and of course bicycles are the common means of travel within the country.

Most streets in the city centers are not even accessible by cars because the main transport in many cities is bicycles. For other public transport like buses, metros, and trams, if you buy the ticket from a conductor it will cost €2.90.

Leisure Activities:

Iceland is a really exciting country with a ton of activities to partake in. It is very guaranteed that individuals enjoy all the many exciting aspects of the country, with many fantastic new ways to explore what the country has to offer.

Iceland is a beautiful seabed of adventure and fun, with hot springs, geysers, lava beds, mountains, and glaciers, it is no lie that the country is a mainstay for exploration and adventure.

There are many museums, parks, old streets, theatres, monuments that cost nothing to experience.

Just like in any place in the world, some cinemas cost €10 or less for students. Likewise, there are unlimited cinema cards that only cost €20 to see movies for an entire month.