Cost of living comparison
Latvia is 15.7% cheaper than Iceland overall.
- Restaurants
-
pay 49.8% less in Latvia
- Groceries
-
pay 41.3% less in Latvia
- Transportation
-
pay 39.9% less in Latvia
- Housing
-
pay 2.5% more in Latvia
- Childcare
-
pay 94.5% more in Latvia
- Entertainment and Sports
-
pay 42.1% less in Latvia
- Clothing
-
pay 34.1% less in Latvia
The cost of childcare and housing in Latvia are more expensive than in Iceland. Expenses including restaurants, entertainment and sports, groceries, transportation, and clothing are lower in Latvia. Notably, childcare is significantly more expensive in Latvia.
If you lived in Latvia instead of Iceland, you would:
pay 49.8% less for restaurants
|
Iceland
|
Latvia
|
||
|---|---|---|---|
| Basic meal with drink at inexpensive restaurant |
$19.40
ISK2,740
|
$10.23
€9.97
|
|
|
Fast food combo meal
McDonalds, or similar
|
$16.94
ISK2,393
|
$7.08
€6.90
|
|
| Bottle of Coca-Cola (11 fl. oz) |
$2.81
ISK397
|
$1.37
€1.33
|
|
| Bottle of water (11 fl. oz) |
$2.02
ISK286
|
$1.17
€1.14
|
|
pay 41.3% less for groceries
|
Iceland
|
Latvia
|
||
|---|---|---|---|
|
Bread
1 loaf
|
$2.95
ISK417
|
$1.36
€1.32
|
|
| Local cheese (8 oz) |
$7.27
ISK1,026
|
$5.17
€5.05
|
|
| Milk (1 gallon) |
$6.01
ISK848
|
$4.66
€4.54
|
|
|
Eggs
1 dozen
|
$5.42
ISK765
|
$2.72
€2.66
|
|
| Boneless chicken breast (1 lb) |
$8.51
ISK1,202
|
$3.05
€2.98
|
|
| Apples (1 lb) |
$1.22
ISK173
|
$0.58
€0.57
|
|
| Bananas (1 lb) |
$1.03
ISK145
|
$0.77
€0.75
|
|
| Oranges (1 lb) |
$1.17
ISK165
|
$1.04
€1.02
|
|
| Tomatoes (1 lb) |
$1.87
ISK265
|
$1.39
€1.36
|
|
| Potatoes (1 lb) |
$1.23
ISK174
|
$0.38
€0.37
|
|
| Onions (1 lb) |
$0.78
ISK111
|
$0.37
€0.36
|
|
pay 39.9% less for transportation
|
Iceland
|
Latvia
|
||
|---|---|---|---|
| Gasoline (1 gallon) |
$8.36
ISK1,181
|
$6.76
€6.59
|
|
| Monthly public transit pass |
$71.28
ISK10,067
|
$39.41
€38.43
|
|
| New Volkswagen Golf 1.4 (standard edition) |
$40,660.66
ISK5,742,912
|
$25,606.21
€24,970.71
|
|
| Taxi trip in downtown area (5 miles) |
$22.04
ISK3,112
|
$9.07
€8.85
|
|
pay 2.5% more for housing
|
Iceland
|
Latvia
|
||
|---|---|---|---|
|
Internet connection
50 mbps or faster, cable/dsl
|
$72.17
ISK10,194
|
$17.22
€16.80
|
|
| 1-Bedroom apartment in downtown area |
$1,838.04
ISK259,604
|
$467.65
€456.04
|
|
| 1-Bedroom apartment outside city center |
$1,497.77
ISK211,545
|
$322.68
€314.67
|
|
|
Utilities for two
(700 sq ft apartment)
including electric, gas, water, heating
|
$58.01
ISK8,194
|
$196.83
€191.95
|
|
pay 94.5% more for childcare
|
Iceland
|
Latvia
|
||
|---|---|---|---|
| Private preschool for 1 child, monthly |
$258.16
ISK36,463
|
$427.69
€417.08
|
|
| Middle school for 1 child, two semesters |
$5,993.99
ISK846,592
|
$13,383.30
€13,051.15
|
|
pay 42.1% less for entertainment and sports
|
Iceland
|
Latvia
|
||
|---|---|---|---|
| Domestic/local beer (1 pint) |
$9.19
ISK1,298
|
$3.87
€3.77
|
|
| Cappuccino in mid-range area |
$4.65
ISK657
|
$3.06
€2.99
|
|
|
Pack of cigarettes
Marlboro or similar
|
$11.76
ISK1,660
|
$4.95
€4.83
|
|
| Monthly membership at local gym |
$61.46
ISK8,681
|
$42.71
€41.65
|
|
| Movie ticket to theater/cinema |
$14.35
ISK2,027
|
$10.00
€9.75
|
|
pay 34.1% less for clothing
|
Iceland
|
Latvia
|
||
|---|---|---|---|
|
Regular jeans
Levi's brand
|
$111.23
ISK15,710
|
$76.51
€74.61
|
|
|
Regular dress
from H&M or similar store
|
$59.69
ISK8,430
|
$43.17
€42.10
|
|
|
Running shoes
Nike or Adidas
|
$148.00
ISK20,903
|
$84.42
€82.32
|
|
| Men's business shoes (leather) |
$184.49
ISK26,058
|
$120.68
€117.68
|
|
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