Cost of living comparison

Melbourne, Australia

compared to

Reykjavik, Iceland

Reykjavik vs. Melbourne Cost of Living Summary

Reykjavik is 11.5% more expensive than Melbourne.

Restaurants: pay 29.9% more in Reykjavik
Groceries: pay 33.8% more in Reykjavik
Transportation: pay 28.3% more in Reykjavik
Housing: pay 14.9% more in Reykjavik
Childcare: pay 78.8% less in Reykjavik
Entertainment and Sports: pay 13.0% more in Reykjavik
Clothing: pay 39.1% more in Reykjavik

The cost of clothing, groceries, restaurants, transportation, housing, and entertainment and sports in Reykjavik are more expensive than in Melbourne.

Reykjavik vs. Melbourne Cost Breakdown

If you lived in Reykjavik instead of Melbourne, you would:

Display currency: USD

pay 29.9% more for restaurants

	Melbourne	Reykjavik
Basic meal with drink at inexpensive restaurant	$16.48 A$26.15	$20.00 ISK2,632	+21.4%
Fast food combo meal McDonalds, or similar	$9.89 A$15.69	$18.02 ISK2,371	+82.3%
Bottle of Coca-Cola (11 fl. oz)	$2.65 A$4.20	$3.15 ISK415	+19.1%
Bottle of water (11 fl. oz)	$2.26 A$3.58	$2.19 ISK288	-3.2%
Average			+29.9%

Melbourne vs. Reykjavik - Cost of restaurants

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pay 33.8% more for groceries

	Melbourne	Reykjavik
Bread 1 loaf	$2.52 A$4.01	$3.61 ISK475	+43.0%
Local cheese (8 oz)	$4.55 A$7.23	$7.76 ISK1,021	+70.4%
Milk (1 gallon)	$5.26 A$8.35	$6.40 ISK843	+21.7%
Eggs 1 dozen	$4.09 A$6.48	$5.76 ISK757	+40.9%
Boneless chicken breast (1 lb)	$4.02 A$6.37	$9.45 ISK1,243	+135.2%
Apples (1 lb)	$1.42 A$2.25	$1.40 ISK185	-1.2%
Bananas (1 lb)	$1.21 A$1.93	$1.01 ISK133	-16.9%
Oranges (1 lb)	$1.19 A$1.88	$1.22 ISK160	+2.6%
Tomatoes (1 lb)	$1.63 A$2.59	$2.22 ISK293	+36.5%
Potatoes (1 lb)	$1.01 A$1.60	$1.43 ISK189	+42.2%
Onions (1 lb)	$0.95 A$1.51	$0.93 ISK123	-2.1%
Average			+33.8%

Melbourne vs. Reykjavik - Cost of groceries

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pay 28.3% more for transportation

	Melbourne	Reykjavik
Gasoline (1 gallon)	$4.69 A$7.44	$8.50 ISK1,119	+81.3%
Monthly public transit pass	$118.63 A$188.26	$74.95 ISK9,863	-36.8%
New Volkswagen Golf 1.4 (standard edition)	$29,276.08 A$46,462.61	$42,450.45 ISK5,585,630	+45.0%
Taxi trip in downtown area (5 miles)	$19.44 A$30.85	$24.05 ISK3,165	+23.7%
Average			+28.3%

Melbourne vs. Reykjavik - Cost of transportation

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pay 14.9% more for housing

	Melbourne	Reykjavik
Internet connection 50 mbps or faster, cable/dsl	$52.42 A$83.20	$69.87 ISK9,193	+33.3%
1-Bedroom apartment in downtown area	$1,479.56 A$2,348.14	$1,971.17 ISK259,367	+33.2%
1-Bedroom apartment outside city center	$1,242.77 A$1,972.33	$1,803.44 ISK237,297	+45.1%
Utilities for two (700 sq ft apartment) including electric, gas, water, heating	$112.74 A$178.92	$53.95 ISK7,099	-52.1%
Average			+14.9%

Melbourne vs. Reykjavik - Cost of housing

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pay 78.8% less for childcare

	Melbourne	Reykjavik
Private preschool for 1 child, monthly	$1,828.91 A$2,902.57	$252.14 ISK33,177	-86.2%
Middle school for 1 child, two semesters	$20,887.75 A$33,149.91	$5,993.99 ISK788,690	-71.3%
Average			-78.8%

Melbourne vs. Reykjavik - Cost of childcare

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pay 13.0% more for entertainment and sports

	Melbourne	Reykjavik
Domestic/local beer (1 pint)	$7.91 A$12.55	$10.81 ISK1,422	+36.7%
Cappuccino in mid-range area	$3.46 A$5.49	$5.31 ISK698	+53.4%
Pack of cigarettes Marlboro or similar	$29.66 A$47.07	$12.25 ISK1,611	-58.7%
Monthly membership at local gym	$52.73 A$83.68	$69.95 ISK9,204	+32.7%
Movie ticket to theater/cinema	$14.66 A$23.27	$14.77 ISK1,944	+0.8%
Average			+13.0%

Melbourne vs. Reykjavik - Cost of entertainment and sports

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pay 39.1% more for clothing

	Melbourne	Reykjavik
Regular jeans Levi's brand	$77.15 A$122.44	$108.97 ISK14,339	+41.2%
Regular dress from H&M or similar store	$49.87 A$79.15	$49.72 ISK6,542	-0.3%
Running shoes Nike or Adidas	$107.61 A$170.78	$151.85 ISK19,981	+41.1%
Men's business shoes (leather)	$111.32 A$176.67	$194.16 ISK25,547	+74.4%
Average			+39.1%

Melbourne vs. Reykjavik - Cost of clothing

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The statistics used to build this comparison are calculated using data from users just like you. We average the price of thousands of data points entered by users across the world. Learn more about our data sources. Page last updated: April 2025

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