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  3. Cost of Living & Prices: Iceland vs. United States

Cost of Living & Prices:
Iceland vs. United States

Compare the cost of living and prices of goods and services, such as consumer goods prices, housing costs, average wages and more, to learn about differences and similarities between countries.

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Country #2
City
ReykjavíkReykjavík
New York, NYNew York, NY

Table of contents

Grocery

EURUSDISK

Iceland vs. United States - grocery purchase prices. You would pay on average 1.06 times less for grocery shopping in Iceland than in the United States.

Apples (1kg)

One kilogram of apples costs 3.13 EUR (3.55 USD) in Iceland and 5.15 EUR (5.84 USD) in the United States. The price of this product is 39.2% lower in Iceland.

3.13 EUR
5.15 EUR

Banana (1kg)

1 kilogram of bananas costs 1.97 EUR (2.23 USD) in Iceland and 2.11 EUR (2.39 USD) in the United States. The price of this product is 6.6% lower in Iceland.

1.97 EUR
2.11 EUR

Beef Round (1kg) (or Equivalent Back Leg Red Meat)

One kilogram of beef or similar meat costs 24.26 EUR (27.53 USD) in Iceland and 18.5 EUR (20.99 USD) in the United States. The price of this product is 23.7% lower in the United States.

24.26 EUR
18.50 EUR

Bottle of Wine (Mid-Range)

A bottle of medium-grade wine costs 18.69 EUR (21.21 USD) in Iceland and 15.86 EUR (18 USD) in the United States. The price of this product is 15.1% lower in the United States.

18.69 EUR
15.86 EUR

Chicken Fillets (1kg)

One kilogram of chicken fillet costs 16.76 EUR (19.02 USD) in Iceland and 15.35 EUR (17.42 USD) in the United States. The price of this product is 8.4% lower in the United States.

16.76 EUR
15.35 EUR

Cigarettes 20 Pack (Marlboro)

A pack of 20 cigarettes costs 11.08 EUR (12.57 USD) in Iceland and 14.1 EUR (16 USD) in the United States. The price of this product is 21.4% lower in Iceland.

11.08 EUR
14.10 EUR

Domestic Beer (0.5 liter bottle)

Domestic beer in a 0.5 liter bottle costs 2.9 EUR (3.29 USD) in Iceland and 2.83 EUR (3.21 USD) in the United States. The price of this product is 2.4% lower in the United States.

2.90 EUR
2.83 EUR

Eggs (regular) (12)

You will pay 5.26 EUR (5.97 USD) for 12 eggs in Iceland and 4.18 EUR (4.74 USD) in the United States. The price of this product is 20.5% lower in the United States.

5.26 EUR
4.18 EUR

Imported Beer (0.33 liter bottle)

A 0.33 liter bottle of imported beer costs 2.41 EUR (2.74 USD) in Iceland and 3.46 EUR (3.93 USD) in the United States. The price of this product is 30.3% lower in Iceland.

2.41 EUR
3.46 EUR

Johnnie Walker Red Label Whisky 0.7 Litre

-
22.02 EUR

Lettuce (1 head)

One head of lettuce costs 2.61 EUR (2.96 USD) in Iceland and 2.5 EUR (2.84 USD) in the United States. The price of this product is 4.2% lower in the United States.

2.61 EUR
2.50 EUR

Loaf of Fresh White Bread (500g)

One loaf of fresh white bread costs 3.11 EUR (3.53 USD) in Iceland and 3.76 EUR (4.27 USD) in the United States. The price of this product is 17.3% lower in Iceland.

3.11 EUR
3.76 EUR

Local Cheese (1kg)

One kilogram of locally produced cheese costs 13.63 EUR (15.46 USD) in Iceland and 14.73 EUR (16.71 USD) in the United States. The price of this product is 7.5% lower in Iceland.

13.63 EUR
14.73 EUR

Milk (regular), (1 liter)

One liter of milk costs 1.47 EUR (1.67 USD) in Iceland and 1.1 EUR (1.25 USD) in the United States. The price of this product is 25.2% lower in the United States.

1.47 EUR
1.10 EUR

Onion (1kg)

One kilogram of onions costs 1.3 EUR (1.47 USD) in Iceland and 3.44 EUR (3.9 USD) in the United States. The price of this product is 62.2% lower in Iceland.

1.30 EUR
3.44 EUR

Oranges (1kg)

One kilogram of oranges costs 2.39 EUR (2.71 USD) in Iceland and 4.7 EUR (5.33 USD) in the United States. The price of this product is 49.1% lower in Iceland.

2.39 EUR
4.70 EUR

Potato (1kg)

One kilogram of potatoes costs 2.58 EUR (2.93 USD) in Iceland and 3.75 EUR (4.26 USD) in the United States. The price of this product is 31.2% lower in Iceland.

2.58 EUR
3.75 EUR

Rice (white), (1kg)

One kilogram of white rice costs 2.95 EUR (3.34 USD) in Iceland and 7.24 EUR (8.22 USD) in the United States. The price of this product is 59.3% lower in Iceland.

2.95 EUR
7.24 EUR

Smirnoff Red Label Vodka 0.7 Litre

-
7.91 EUR

Tomato (1kg)

One kilogram of tomatoes costs 4.43 EUR (5.03 USD) in Iceland and 5.51 EUR (6.25 USD) in the United States. The price of this product is 19.6% lower in Iceland.

4.43 EUR
5.51 EUR

Water (1.5 liter bottle)

A 1.5 liter bottle of water costs 1.87 EUR (2.12 USD) in Iceland and 2.2 EUR (2.5 USD) in the United States. The price of this product is 15% lower in Iceland.

1.87 EUR
2.20 EUR

Restaurant

EURUSDISK

Iceland vs. United States - expenses on meals in restaurants. You would pay 1.1 times more for meals in restaurants in Iceland than in the United States.

Cappuccino (regular)

For a cappuccino in a restaurant, you'll pay 4.33 EUR (4.91 USD) in Iceland and 4.6 EUR (5.22 USD) in the United States. The price of this product is 5.9% lower in Iceland.

4.33 EUR
4.60 EUR

Coke/Pepsi (0.33 liter bottle)

A 0.33 liter bottle of Coca-Cola or Pepsi costs 2.39 EUR (2.71 USD) in Iceland and 2.47 EUR (2.8 USD) in the United States. The price of this product is 3.2% lower in Iceland.

2.39 EUR
2.47 EUR

Domestic Beer (0.5 liter draught)

Domestic beer with a capacity of 0.5 liters costs 9 EUR (10.22 USD) in Iceland and 7.05 EUR (8 USD) in the United States. The price of this product is 21.7% lower in the United States.

9.00 EUR
7.05 EUR

Imported Beer (0.33 liter bottle)

A 0.33 liter bottle of imported beer costs 7.62 EUR (8.64 USD) in Iceland and 8.81 EUR (10 USD) in the United States. The price of this product is 13.5% lower in Iceland.

7.62 EUR
8.81 EUR

McMeal at McDonalds (or Equivalent Combo Meal)

A McMeal or similar meal at McDonald's costs 13.85 EUR (15.72 USD) in Iceland and 10.57 EUR (12 USD) in the United States. The price of this product is 23.7% lower in the United States.

13.85 EUR
10.57 EUR

Meal for 2 People, Mid-range Restaurant, Three-course

A three-course meal for two people at a mid-range restaurant costs 103.88 EUR (117.88 USD) in Iceland and 88.12 EUR (100 USD) in the United States. The price of this product is 15.2% lower in the United States.

103.88 EUR
88.12 EUR

Meal, Inexpensive Restaurant

A meal at an inexpensive restaurant costs 17.31 EUR (19.65 USD) in Iceland and 22.03 EUR (25 USD) in the United States. The price of this product is 21.4% lower in Iceland.

17.31 EUR
22.03 EUR

Water (0.33 liter bottle)

A 0.33 liter bottle of water costs 1.85 EUR (2.1 USD) in Iceland and 1.94 EUR (2.2 USD) in the United States. The price of this product is 4.6% lower in Iceland.

1.85 EUR
1.94 EUR

Fuel

EURUSDISK

Iceland vs. United States - expenses related to fuel. You would pay 2.45 times more for fuel in Iceland than in the United States.

Diesel 1L

A liter of diesel costs 2.02 EUR (2.3 USD) in Iceland and 0.83 EUR (0.95 USD) in the United States. The price of this product is 58.9% lower in the United States.

2.02 EUR
0.83 EUR

Gasoline 1L

A liter of gasoline costs 2 EUR (2.27 USD) in Iceland and 0.81 EUR (0.92 USD) in the United States. The price of this product is 59.5% lower in the United States.

2.00 EUR
0.81 EUR

Transportation

EURUSDISK

Iceland vs. United States - costs of transportation and public communication. You would pay 1.13 times less for transportation in Iceland than in the United States.

Monthly Pass (Regular Price)

The monthly ticket price for public transportation is 62.33 EUR (70.73 USD) in Iceland and 113.68 EUR (129 USD) in the United States. The price of this product is 45.2% lower in Iceland.

62.33 EUR
113.68 EUR

One-way Ticket (Local Transport)

The one-way ticket price for local transportation is 3.81 EUR (4.32 USD) in Iceland and 2.42 EUR (2.75 USD) in the United States. The price of this product is 36.5% lower in the United States.

3.81 EUR
2.42 EUR

Taxi 1hour Waiting (Normal Tariff)

The cost of a one-hour taxi stand/wait is 56.58 EUR (64.2 USD) in Iceland and 26.44 EUR (30 USD) in the United States. The price of this product is 53.3% lower in the United States.

56.58 EUR
26.44 EUR

Taxi 1km (Normal Tariff)

The fare for each kilometer traveled is 2.87 EUR (3.25 USD) in Iceland and 1.64 EUR (1.86 USD) in the United States. The price of this product is 42.9% lower in the United States.

2.87 EUR
1.64 EUR

Taxi Start (Normal Tariff)

The initial fare during a taxi ride is 5.06 EUR (5.74 USD) in Iceland and 3.97 EUR (4.5 USD) in the United States. The price of this product is 21.5% lower in the United States.

5.06 EUR
3.97 EUR

Sports & entertainment

EURUSDISK

Iceland vs. United States - costs related to entertainment and sports.

Cinema, International Release, 1 Seat

The ticket price for a foreign film in the cinema is 12.81 EUR (14.54 USD) in Iceland and 15.86 EUR (18 USD) in the United States. The price of this product is 19.2% lower in Iceland.

12.81 EUR
15.86 EUR

Fitness Club, Monthly Fee for 1 Adult

The monthly fee for entry to the fitness club is 62.33 EUR (70.74 USD) in Iceland and 86.59 EUR (98.26 USD) in the United States. The price of this product is 28% lower in Iceland.

62.33 EUR
86.59 EUR

Tennis Court Rent (1 Hour on Weekend)

The cost of renting a tennis court for one hour on the weekend is 42.82 EUR (48.59 USD) in Iceland and 33.49 EUR (38 USD) in the United States. The price of this product is 21.8% lower in the United States.

42.82 EUR
33.49 EUR

Flats for rent

EURUSDISK

Iceland vs. United States - costs of renting an apartment. You would pay about 2.26 times less for renting an apartment in Iceland than in the United States.

Apartment (1 bedroom) in City Centre

For renting an apartment in the city center consisting of a living room and one bedroom, you will pay 1505 EUR (1707.51 USD) in Iceland and 3349 EUR (3800.48 USD) in the United States. The price of this product is 55.1% lower in Iceland.

1 505 EUR
3 349 EUR

Apartment (1 bedroom) Outside of Centre

For renting an apartment outside the city center consisting of a living room and one bedroom, you will pay 1275 EUR (1446.33 USD) in Iceland and 2098 EUR (2380.18 USD) in the United States. The price of this product is 39.2% lower in Iceland.

1 275 EUR
2 098 EUR

Apartment (3 bedrooms) in City Centre

For renting an apartment in the city center consisting of a living room and three bedrooms, you will pay 2179 EUR (2472.83 USD) in Iceland and 6252 EUR (7094.09 USD) in the United States. The price of this product is 65.1% lower in Iceland.

2 179 EUR
6 252 EUR

Apartment (3 bedrooms) Outside of Centre

For renting an apartment outside the city center consisting of a living room and three bedrooms, you will pay 1813 EUR (2057.78 USD) in Iceland and 3620 EUR (4107.47 USD) in the United States. The price of this product is 49.9% lower in Iceland.

1 813 EUR
3 620 EUR

Flats for sale

EURUSDISK

Iceland vs. United States - costs of purchasing an apartment. You would pay 2.06 times less for buying an apartment in Iceland than in the United States.

Price per Square Meter to Buy Apartment in City Centre

For one square meter of an apartment in the city center you will pay 5816 EUR (6599.75 USD) in Iceland and 12582 EUR (14277.9 USD) in the United States. The price of this product is 53.8% lower in Iceland.

5 816 EUR
12 582 EUR

Price per Square Meter to Buy Apartment Outside of Centre

For one square meter of an apartment outside the city center, you will pay 4244 EUR (4815.43 USD) in Iceland and 8174 EUR (9275.19 USD) in the United States. The price of this product is 48.1% lower in Iceland.

4 244 EUR
8 174 EUR

Salary

EURUSDISK

Iceland vs. United States - average salary. The average salary in Iceland is 1.53 times lower than in the United States.

Average Monthly Net Salary (After Tax)

The average monthly salary after taxes is 3457 EUR (3923.4 USD) in Iceland and 5285 EUR (5996.99 USD) in the United States. The average salary is 34.6% lower in Iceland.

3 457 EUR
5 285 EUR

Hotels

EURUSDISK

Iceland vs. United States - prices of accommodation in hostels, guesthouses, and hotels.

One star

-
91.4 EUR

Two stars

152 EUR
129 EUR

Three stars

202 EUR
172 EUR

Four stars

323 EUR
222 EUR

Five stars

-
530 EUR

Average accommodation prices based on Expedia.com data • Update: 15 Dec 2024 (1 night stay for 2 people on 29 Dec 2024) • Iceland: 11 cities, 117 hotels • United States: 20 cities, 3762 hotels

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