Cost of living comparison
Iceland is 2.4% more expensive than New Jersey.
- Restaurants
-
pay 16.6% more in Iceland
- Groceries
-
pay 5.1% less in Iceland
- Transportation
-
pay 31.9% more in Iceland
- Housing
-
pay 14.9% less in Iceland
- Childcare
-
pay 81.4% less in Iceland
- Entertainment and Sports
-
pay 7.0% more in Iceland
- Clothing
-
pay 63.0% more in Iceland
The cost of clothing, transportation, restaurants, and entertainment and sports in Iceland are more expensive than in New Jersey. Expenses including childcare, housing, and groceries are lower in Iceland.
If you lived in Iceland instead of New Jersey, you would:
pay 16.6% more for restaurants
|
New Jersey
|
Iceland
|
||
|---|---|---|---|
| Basic meal with drink at inexpensive restaurant |
$19.00
|
$19.40
ISK2,535
|
|
|
Fast food combo meal
McDonalds, or similar
|
$11.19
|
$16.94
ISK2,214
|
|
| Bottle of Coca-Cola (11 fl. oz) |
$2.49
|
$2.81
ISK367
|
|
| Bottle of water (11 fl. oz) |
$2.02
|
$2.02
ISK264
|
|
pay 5.1% less for groceries
|
New Jersey
|
Iceland
|
||
|---|---|---|---|
|
Bread
1 loaf
|
$3.89
|
$2.95
ISK386
|
|
| Local cheese (8 oz) |
$7.30
|
$7.27
ISK949
|
|
| Milk (1 gallon) |
$4.36
|
$6.01
ISK785
|
|
|
Eggs
1 dozen
|
$3.63
|
$5.42
ISK708
|
|
| Boneless chicken breast (1 lb) |
$5.77
|
$8.51
ISK1,112
|
|
| Apples (1 lb) |
$2.60
|
$1.22
ISK160
|
|
| Bananas (1 lb) |
$0.90
|
$1.03
ISK134
|
|
| Oranges (1 lb) |
$2.10
|
$1.17
ISK153
|
|
| Tomatoes (1 lb) |
$2.65
|
$1.87
ISK245
|
|
| Potatoes (1 lb) |
$1.28
|
$1.23
ISK161
|
|
| Onions (1 lb) |
$1.59
|
$0.78
ISK103
|
|
pay 31.9% more for transportation
|
New Jersey
|
Iceland
|
||
|---|---|---|---|
| Gasoline (1 gallon) |
$3.49
|
$8.36
ISK1,093
|
|
| Monthly public transit pass |
$133.88
|
$71.28
ISK9,315
|
|
| New Volkswagen Golf 1.4 (standard edition) |
$31,750.31
|
$40,660.66
ISK5,313,942
|
|
| Taxi trip in downtown area (5 miles) |
$20.65
|
$22.04
ISK2,880
|
|
pay 14.9% less for housing
|
New Jersey
|
Iceland
|
||
|---|---|---|---|
|
Internet connection
50 mbps or faster, cable/dsl
|
$58.37
|
$72.17
ISK9,432
|
|
| 1-Bedroom apartment in downtown area |
$2,167.23
|
$1,838.04
ISK240,213
|
|
| 1-Bedroom apartment outside city center |
$1,865.29
|
$1,497.77
ISK195,744
|
|
|
Utilities for two
(700 sq ft apartment)
including electric, gas, water, heating
|
$112.29
|
$58.01
ISK7,582
|
|
pay 81.4% less for childcare
|
New Jersey
|
Iceland
|
||
|---|---|---|---|
| Private preschool for 1 child, monthly |
$1,618.98
|
$258.16
ISK33,740
|
|
| Middle school for 1 child, two semesters |
$28,166.67
|
$5,993.99
ISK783,355
|
|
pay 7.0% more for entertainment and sports
|
New Jersey
|
Iceland
|
||
|---|---|---|---|
| Domestic/local beer (1 pint) |
$6.72
|
$9.19
ISK1,201
|
|
| Cappuccino in mid-range area |
$4.97
|
$4.65
ISK607
|
|
|
Pack of cigarettes
Marlboro or similar
|
$11.57
|
$11.76
ISK1,536
|
|
| Monthly membership at local gym |
$54.75
|
$61.46
ISK8,032
|
|
| Movie ticket to theater/cinema |
$15.73
|
$14.35
ISK1,875
|
|
pay 63.0% more for clothing
|
New Jersey
|
Iceland
|
||
|---|---|---|---|
|
Regular jeans
Levi's brand
|
$53.04
|
$111.23
ISK14,537
|
|
|
Regular dress
from H&M or similar store
|
$45.58
|
$59.69
ISK7,801
|
|
|
Running shoes
Nike or Adidas
|
$91.11
|
$148.00
ISK19,342
|
|
| Men's business shoes (leather) |
$124.03
|
$184.49
ISK24,111
|
|
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