Cost of living comparison
Reykjavik is 38.8% more expensive than Madrid.
If you lived in Reykjavik instead of Madrid, you would:
pay 31.7% more for restaurants
|
Madrid
|
Reykjavik
|
||
|---|---|---|---|
| Basic meal with drink at inexpensive restaurant |
$16.08
€15.31
|
$20.00
ISK2,774
|
|
|
Fast food combo meal
McDonalds, or similar
|
$10.72
€10.21
|
$18.02
ISK2,499
|
|
| Bottle of Coca-Cola (11 fl. oz) |
$2.79
€2.65
|
$3.15
ISK437
|
|
| Bottle of water (11 fl. oz) |
$1.80
€1.72
|
$2.19
ISK303
|
|
pay 63.3% more for groceries
|
Madrid
|
Reykjavik
|
||
|---|---|---|---|
|
Bread
1 loaf
|
$1.50
€1.43
|
$3.61
ISK501
|
|
| Local cheese (8 oz) |
$6.92
€6.59
|
$7.76
ISK1,076
|
|
| Milk (1 gallon) |
$4.41
€4.20
|
$6.40
ISK888
|
|
|
Eggs
1 dozen
|
$3.05
€2.91
|
$5.76
ISK799
|
|
| Boneless chicken breast (1 lb) |
$3.78
€3.60
|
$9.45
ISK1,311
|
|
| Apples (1 lb) |
$1.13
€1.07
|
$1.40
ISK195
|
|
| Bananas (1 lb) |
$0.87
€0.83
|
$1.01
ISK140
|
|
| Oranges (1 lb) |
$1.01
€0.96
|
$1.22
ISK169
|
|
| Tomatoes (1 lb) |
$1.05
€1.00
|
$2.22
ISK309
|
|
| Potatoes (1 lb) |
$0.83
€0.79
|
$1.43
ISK199
|
|
| Onions (1 lb) |
$0.82
€0.78
|
$0.93
ISK130
|
|
pay 45.0% more for transportation
|
Madrid
|
Reykjavik
|
||
|---|---|---|---|
| Gasoline (1 gallon) |
$6.79
€6.46
|
$8.50
ISK1,179
|
|
| Monthly public transit pass |
$42.87
€40.82
|
$74.95
ISK10,398
|
|
| New Volkswagen Golf 1.4 (standard edition) |
$35,759.38
€34,050.08
|
$42,450.45
ISK5,888,726
|
|
| Taxi trip in downtown area (5 miles) |
$14.90
€14.19
|
$24.05
ISK3,336
|
|
pay 40.7% more for housing
|
Madrid
|
Reykjavik
|
||
|---|---|---|---|
|
Internet connection
50 mbps or faster, cable/dsl
|
$31.85
€30.32
|
$69.87
ISK9,692
|
|
| 1-Bedroom apartment in downtown area |
$1,468.90
€1,398.68
|
$1,971.17
ISK273,441
|
|
| 1-Bedroom apartment outside city center |
$1,074.71
€1,023.34
|
$1,803.44
ISK250,173
|
|
|
Utilities for two
(700 sq ft apartment)
including electric, gas, water, heating
|
$130.03
€123.82
|
$53.95
ISK7,484
|
|
pay 48.0% less for childcare
|
Madrid
|
Reykjavik
|
||
|---|---|---|---|
| Private preschool for 1 child, monthly |
$567.57
€540.44
|
$252.14
ISK34,977
|
|
| Middle school for 1 child, two semesters |
$10,069.47
€9,588.15
|
$5,993.99
ISK831,487
|
|
pay 96.8% more for entertainment and sports
|
Madrid
|
Reykjavik
|
||
|---|---|---|---|
| Domestic/local beer (1 pint) |
$3.75
€3.57
|
$10.81
ISK1,500
|
|
| Cappuccino in mid-range area |
$2.59
€2.46
|
$5.31
ISK736
|
|
|
Pack of cigarettes
Marlboro or similar
|
$6.43
€6.12
|
$12.25
ISK1,699
|
|
| Monthly membership at local gym |
$43.11
€41.05
|
$69.95
ISK9,703
|
|
| Movie ticket to theater/cinema |
$10.72
€10.21
|
$14.77
ISK2,050
|
|
pay 42.2% more for clothing
|
Madrid
|
Reykjavik
|
||
|---|---|---|---|
|
Regular jeans
Levi's brand
|
$90.50
€86.17
|
$108.97
ISK15,117
|
|
|
Regular dress
from H&M or similar store
|
$37.21
€35.43
|
$49.72
ISK6,897
|
|
|
Running shoes
Nike or Adidas
|
$97.88
€93.20
|
$151.85
ISK21,065
|
|
| Men's business shoes (leather) |
$121.40
€115.59
|
$194.16
ISK26,934
|
|
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