Cost of living
Iceland compared to Australia
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Overview comparison
IcelandAustralia
Consumer prices in Australia are roughly 29% higher than in Iceland.
Cost of living
| Item | Iceland | Australia |
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| Total with rent one person | 2,964 | 1,994 |
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| Total with rent family | 4,846 | 5,112 |
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| Without rent one person | 959 | 1,137 |
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| Without rent one family | 2,730 | 3,176 |
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| Rent & Utilities person | 1,597.82 | 1,448.81 |
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| Rent & Utilities family | 2,046.76 | 2,486.92 |
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| Food person | 870 | 603 |
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| Food family | 2,184 | 1,370 |
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| Transport person | 77.85 | 314.65 |
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| Transport family | 222.83 | 645.91 |
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| Life expectancy | 82.81 years | 83.05 years |
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Eating Out
| Item | Iceland | Australia |
|---|
| Lunch Menu | 17.65 | 12.44 |
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| Dinner in a Restaurant, for 2 | 129.25 | 74.32 |
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| Fast food meal, equiv. McDonald's | 18.5 | 10.7 |
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| Beer in a Pub, 0.5 L or 16 fl oz | 12.12 | 7.23 |
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| Cappuccino | 4.5 | 3.41 |
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| Pepsi / Coke, 0.5 L or 16.9 fl oz | 3.66 | 3.23 |
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Rent & Utilities
| Item | Iceland | Australia |
|---|
| 1 bedroom apartment in city Center, 40 m2 or 430 ft2 | 1,800.05 | 1,601.55 |
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| Cheap 1 bedroom apartment, 40 m2 or 430 ft2 | 1,312.55 | 1,272.28 |
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| 3 bedroom apartment in city Center, 80 m2 or 860 ft2 | 2,314.52 | 2,534.27 |
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| Cheap 3 bedroom apartment, 80 m2 or 860 ft2 | 2,843.64 | 1,878.74 |
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| Utility Bill one person, electricity, heating, water, etc. | 44.71 | 121.87 |
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| Utility Bill for a Family, electricity, heating, water, etc. | 67.33 | 153.26 |
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| Internet plan, 25 Mbps+ 1 month unlimited | 76.76 | 60.25 |
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Transportation
| Item | Iceland | Australia |
|---|
| Local transport ticket | 7.78 | 6.92 |
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| Gas / Petrol, 1 L or 0.26 gal | 5.47 | 2.87 |
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| Mortgage Interest Rate for 20 Years | 12.46% | 5.1% |
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| Apartment price to Buy in city Center, 1 m2 or 10 ft2 | 22.8 | 26.23 |
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| House price to Buy in Suburbs, 1 m2 or 10 ft2 | 2.33 | 1.1 |
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Groceries
| Item | Iceland | Australia |
|---|
| Milk, 1 L or 1 qt | 1.83 | 1.54 |
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| Bread, 0.5 kg or 1.1 lb | 3.36 | 2.78 |
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| Eggs, x12 | 6.58 | 3.88 |
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| Cheese, 1 kg or 2.2 lb | 14.12 | 10.69 |
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| Chicken Breast, 1 kg or 2.2 lb | 15.81 | 10.05 |
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| Round Steak, 1 kg or 2.2 lb | 40.5 | 15.03 |
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| Banana, 1 kg or 2.2 lb | 2.45 | 2.7 |
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| Water, 1 L or 1 qt | 1.36 | 1.04 |
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Other
| Item | Iceland | Australia |
|---|
| Gym Membership, 1 month | 76.37 | 50.41 |
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| Cinema Ticket, 1 person | 16.72 | 15.04 |
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| Doctors visit | 93.82 | 53.84 |
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| Haircut, simple | 51.01 | 16.66 |
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| Brand Jeans | 119.07 | 89.47 |
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| Brand Sneakers | 169.8 | 133.79 |
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| Daycare or Preschool, 1 month | 220.27 | 1,939.19 |
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| International Primary School, 1 year | 6,414 | 18,881 |
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