Cost of living
Iceland compared to Latvia
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Overview comparison
IcelandLatvia
Consumer prices in Iceland are roughly 27% higher than in Latvia.
Cost of living
| Item | Iceland | Latvia |
|---|
| Total with rent one person | 2,964 | 1,040 |
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| Total with rent family | 4,846 | 2,203 |
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| Without rent one person | 959 | 568 |
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| Without rent one family | 2,730 | 1,789 |
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| Rent & Utilities person | 1,597.82 | 593.39 |
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| Rent & Utilities family | 2,046.76 | 1,035.05 |
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| Food person | 870 | 319 |
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| Food family | 2,184 | 1,094 |
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| Transport person | 77.85 | 59.12 |
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| Transport family | 222.83 | 171.01 |
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| Life expectancy | 80.74 years | 89.42 years |
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Eating Out
| Item | Iceland | Latvia |
|---|
| Lunch Menu | 17.65 | 8.94 |
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| Dinner in a Restaurant, for 2 | 129.25 | 59.79 |
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| Fast food meal, equiv. McDonald's | 18.5 | 6.24 |
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| Beer in a Pub, 0.5 L or 16 fl oz | 12.12 | 5.5 |
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| Cappuccino | 4.5 | 3.27 |
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| Pepsi / Coke, 0.5 L or 16.9 fl oz | 3.66 | 1.73 |
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Rent & Utilities
| Item | Iceland | Latvia |
|---|
| 1 bedroom apartment in city Center, 40 m2 or 430 ft2 | 1,800.05 | 536 |
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| Cheap 1 bedroom apartment, 40 m2 or 430 ft2 | 1,312.55 | 355.84 |
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| 3 bedroom apartment in city Center, 80 m2 or 860 ft2 | 2,314.52 | 814.04 |
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| Cheap 3 bedroom apartment, 80 m2 or 860 ft2 | 2,843.64 | 646.88 |
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| Utility Bill one person, electricity, heating, water, etc. | 44.71 | 185.74 |
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| Utility Bill for a Family, electricity, heating, water, etc. | 67.33 | 314.17 |
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| Internet plan, 25 Mbps+ 1 month unlimited | 76.76 | 14.77 |
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Transportation
| Item | Iceland | Latvia |
|---|
| Local transport ticket | 7.78 | 4.08 |
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| Monthly ticket local transport | 4,980 | 1,834 |
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| Taxi Ride, 8 km or 5 mi | 4,162 | 1,386 |
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| Gas / Petrol, 1 L or 0.26 gal | 5.47 | 1.31 |
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| Mortgage Interest Rate for 20 Years | 72.85% | 41.1% |
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| Apartment price to Buy in city Center, 1 m2 or 10 ft2 | 22.8 | 9.62 |
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| House price to Buy in Suburbs, 1 m2 or 10 ft2 | 2.33 | 1.68 |
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Groceries
| Item | Iceland | Latvia |
|---|
| Milk, 1 L or 1 qt | 1.83 | 1.03 |
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| Bread, 0.5 kg or 1.1 lb | 3.36 | 1.43 |
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| Eggs, x12 | 6.58 | 3.16 |
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| Cheese, 1 kg or 2.2 lb | 14.12 | 12.03 |
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| Chicken Breast, 1 kg or 2.2 lb | 15.81 | 8.57 |
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| Round Steak, 1 kg or 2.2 lb | 40.5 | 9.11 |
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| Banana, 1 kg or 2.2 lb | 2.45 | 1.89 |
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| Water, 1 L or 1 qt | 1.36 | 0.64 |
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Other
| Item | Iceland | Latvia |
|---|
| Gym Membership, 1 month | 76.37 | 50.07 |
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| Cinema Ticket, 1 person | 16.72 | 9.67 |
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| Doctors visit | 93.82 | 36.56 |
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| Haircut, simple | 51.01 | 15.82 |
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| Brand Jeans | 119.07 | 77.08 |
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| Brand Sneakers | 169.8 | 79.18 |
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| Daycare or Preschool, 1 month | 220.27 | 489.96 |
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| International Primary School, 1 year | 6,414 | 15,507 |
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