Iceland
Live cost-of-living data across 1 city in Iceland — average cost index 50/100 (New York = 100), ranging from 50 to 50. Sourced by AI, refreshed regularly.
Cost of living by city in Iceland
Ranked cheapest first. Cost index anchored to New York = 100.
Frequently asked questions
Is Iceland cheap to live in?
Across 1 cities in Iceland, the average cost-of-living index is 50 (New York = 100) — from 50 in Reykjavik to 50 in Reykjavik. It's meaningfully cheaper than the US and Western Europe.
What is the cheapest city in Iceland?
Reykjavik is the most affordable city we track in Iceland, with a cost-of-living index of 50 (New York = 100) and a 1-bedroom city-center rent around $2,222/month.
How much does it cost to live in Iceland per month?
A single person can live comfortably in the cheaper cities of Iceland for roughly $1,000–$1,400/month. Costs scale up toward Reykjavik. See the full city-by-city breakdown above.
Compare Reykjavik with anywhere
Dig into any Iceland city, or see where your salary stretches furthest worldwide.