Cost of living comparison
Madrid is 5.9% cheaper than Iceland overall.
- Restaurants
-
pay 16.4% less in Madrid
- Groceries
-
pay 26.3% less in Madrid
- Transportation
-
pay 25.8% less in Madrid
- Housing
-
pay 5.0% more in Madrid
- Childcare
-
pay 93.9% more in Madrid
- Entertainment and Sports
-
pay 40.8% less in Madrid
- Clothing
-
pay 31.1% less in Madrid
The cost of childcare and housing in Madrid are more expensive than in Iceland. Expenses including entertainment and sports, clothing, groceries, transportation, and restaurants are lower in Madrid. Notably, childcare is significantly more expensive in Madrid.
If you lived in Madrid instead of Iceland, you would:
pay 16.4% less for restaurants
|
Iceland
|
Madrid
|
||
|---|---|---|---|
| Basic meal with drink at inexpensive restaurant |
$19.40
ISK2,711
|
$16.08
€15.59
|
|
|
Fast food combo meal
McDonalds, or similar
|
$16.94
ISK2,368
|
$10.72
€10.39
|
|
| Bottle of Coca-Cola (11 fl. oz) |
$2.81
ISK393
|
$2.79
€2.70
|
|
| Bottle of water (11 fl. oz) |
$2.02
ISK283
|
$1.80
€1.75
|
|
pay 26.3% less for groceries
|
Iceland
|
Madrid
|
||
|---|---|---|---|
|
Bread
1 loaf
|
$2.95
ISK413
|
$1.50
€1.45
|
|
| Local cheese (8 oz) |
$7.27
ISK1,016
|
$6.92
€6.71
|
|
| Milk (1 gallon) |
$6.01
ISK840
|
$4.41
€4.27
|
|
|
Eggs
1 dozen
|
$5.42
ISK757
|
$3.05
€2.96
|
|
| Boneless chicken breast (1 lb) |
$8.51
ISK1,189
|
$3.78
€3.67
|
|
| Apples (1 lb) |
$1.22
ISK171
|
$1.13
€1.09
|
|
| Bananas (1 lb) |
$1.03
ISK143
|
$0.87
€0.84
|
|
| Oranges (1 lb) |
$1.17
ISK164
|
$1.01
€0.97
|
|
| Tomatoes (1 lb) |
$1.87
ISK262
|
$1.05
€1.02
|
|
| Potatoes (1 lb) |
$1.23
ISK173
|
$0.83
€0.81
|
|
| Onions (1 lb) |
$0.78
ISK110
|
$0.82
€0.80
|
|
pay 25.8% less for transportation
|
Iceland
|
Madrid
|
||
|---|---|---|---|
| Gasoline (1 gallon) |
$8.36
ISK1,169
|
$6.79
€6.58
|
|
| Monthly public transit pass |
$71.28
ISK9,963
|
$42.87
€41.58
|
|
| New Volkswagen Golf 1.4 (standard edition) |
$40,660.66
ISK5,683,547
|
$35,759.38
€34,679.12
|
|
| Taxi trip in downtown area (5 miles) |
$22.04
ISK3,080
|
$14.90
€14.45
|
|
pay 5.0% more for housing
|
Iceland
|
Madrid
|
||
|---|---|---|---|
|
Internet connection
50 mbps or faster, cable/dsl
|
$72.17
ISK10,089
|
$31.85
€30.88
|
|
| 1-Bedroom apartment in downtown area |
$1,838.04
ISK256,921
|
$1,468.90
€1,424.52
|
|
| 1-Bedroom apartment outside city center |
$1,497.77
ISK209,358
|
$1,074.71
€1,042.24
|
|
|
Utilities for two
(700 sq ft apartment)
including electric, gas, water, heating
|
$58.01
ISK8,109
|
$130.03
€126.10
|
|
pay 93.9% more for childcare
|
Iceland
|
Madrid
|
||
|---|---|---|---|
| Private preschool for 1 child, monthly |
$258.16
ISK36,086
|
$567.57
€550.42
|
|
| Middle school for 1 child, two semesters |
$5,993.99
ISK837,840
|
$10,069.47
€9,765.28
|
|
pay 40.8% less for entertainment and sports
|
Iceland
|
Madrid
|
||
|---|---|---|---|
| Domestic/local beer (1 pint) |
$9.19
ISK1,284
|
$3.75
€3.64
|
|
| Cappuccino in mid-range area |
$4.65
ISK650
|
$2.59
€2.51
|
|
|
Pack of cigarettes
Marlboro or similar
|
$11.76
ISK1,643
|
$6.43
€6.24
|
|
| Monthly membership at local gym |
$61.46
ISK8,591
|
$43.11
€41.81
|
|
| Movie ticket to theater/cinema |
$14.35
ISK2,006
|
$10.72
€10.39
|
|
pay 31.1% less for clothing
|
Iceland
|
Madrid
|
||
|---|---|---|---|
|
Regular jeans
Levi's brand
|
$111.23
ISK15,548
|
$90.50
€87.77
|
|
|
Regular dress
from H&M or similar store
|
$59.69
ISK8,343
|
$37.21
€36.09
|
|
|
Running shoes
Nike or Adidas
|
$148.00
ISK20,687
|
$97.88
€94.92
|
|
| Men's business shoes (leather) |
$184.49
ISK25,789
|
$121.40
€117.73
|
|
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