Cost of living comparison
Iceland is 26.7% more expensive than New Mexico.
- Restaurants
-
pay 31.2% more in Iceland
- Groceries
-
pay 17.8% more in Iceland
- Transportation
-
pay 84.2% more in Iceland
- Housing
-
pay 0.2% less in Iceland
- Childcare
-
pay 40.5% less in Iceland
- Entertainment and Sports
-
pay 21.5% more in Iceland
- Clothing
-
pay 73.1% more in Iceland
The cost of transportation, clothing, restaurants, entertainment and sports, and groceries in Iceland are more expensive than in New Mexico. Expenses including childcare and housing are lower in Iceland. Notably, transportation is significantly more expensive in Iceland.
If you lived in Iceland instead of New Mexico, you would:
pay 31.2% more for restaurants
|
New Mexico
|
Iceland
|
||
|---|---|---|---|
| Basic meal with drink at inexpensive restaurant |
$17.40
|
$19.40
ISK2,711
|
|
|
Fast food combo meal
McDonalds, or similar
|
$8.80
|
$16.94
ISK2,368
|
|
| Bottle of Coca-Cola (11 fl. oz) |
$2.53
|
$2.81
ISK393
|
|
| Bottle of water (11 fl. oz) |
$1.84
|
$2.02
ISK283
|
|
pay 17.8% more for groceries
|
New Mexico
|
Iceland
|
||
|---|---|---|---|
|
Bread
1 loaf
|
$2.89
|
$2.95
ISK413
|
|
| Local cheese (8 oz) |
$6.59
|
$7.27
ISK1,016
|
|
| Milk (1 gallon) |
$3.70
|
$6.01
ISK840
|
|
|
Eggs
1 dozen
|
$3.28
|
$5.42
ISK757
|
|
| Boneless chicken breast (1 lb) |
$4.55
|
$8.51
ISK1,189
|
|
| Apples (1 lb) |
$2.19
|
$1.22
ISK171
|
|
| Bananas (1 lb) |
$0.67
|
$1.03
ISK143
|
|
| Oranges (1 lb) |
$2.35
|
$1.17
ISK164
|
|
| Tomatoes (1 lb) |
$1.67
|
$1.87
ISK262
|
|
| Potatoes (1 lb) |
$0.92
|
$1.23
ISK173
|
|
| Onions (1 lb) |
$1.23
|
$0.78
ISK110
|
|
pay 84.2% more for transportation
|
New Mexico
|
Iceland
|
||
|---|---|---|---|
| Gasoline (1 gallon) |
$3.16
|
$8.36
ISK1,169
|
|
| Monthly public transit pass |
$32.00
|
$71.28
ISK9,963
|
|
| New Volkswagen Golf 1.4 (standard edition) |
$34,466.85
|
$40,660.66
ISK5,683,547
|
|
| Taxi trip in downtown area (5 miles) |
$16.70
|
$22.04
ISK3,080
|
|
pay 0.2% less for housing
|
New Mexico
|
Iceland
|
||
|---|---|---|---|
|
Internet connection
50 mbps or faster, cable/dsl
|
$75.22
|
$72.17
ISK10,089
|
|
| 1-Bedroom apartment in downtown area |
$1,396.70
|
$1,838.04
ISK256,921
|
|
| 1-Bedroom apartment outside city center |
$1,184.76
|
$1,497.77
ISK209,358
|
|
|
Utilities for two
(700 sq ft apartment)
including electric, gas, water, heating
|
$127.88
|
$58.01
ISK8,109
|
|
pay 40.5% less for childcare
|
New Mexico
|
Iceland
|
||
|---|---|---|---|
| Private preschool for 1 child, monthly |
$1,076.67
|
$258.16
ISK36,086
|
|
| Middle school for 1 child, two semesters |
$6,300.00
|
$5,993.99
ISK837,840
|
|
pay 21.5% more for entertainment and sports
|
New Mexico
|
Iceland
|
||
|---|---|---|---|
| Domestic/local beer (1 pint) |
$5.40
|
$9.19
ISK1,284
|
|
| Cappuccino in mid-range area |
$4.52
|
$4.65
ISK650
|
|
|
Pack of cigarettes
Marlboro or similar
|
$9.25
|
$11.76
ISK1,643
|
|
| Monthly membership at local gym |
$74.19
|
$61.46
ISK8,591
|
|
| Movie ticket to theater/cinema |
$11.50
|
$14.35
ISK2,006
|
|
pay 73.1% more for clothing
|
New Mexico
|
Iceland
|
||
|---|---|---|---|
|
Regular jeans
Levi's brand
|
$50.78
|
$111.23
ISK15,548
|
|
|
Regular dress
from H&M or similar store
|
$40.25
|
$59.69
ISK8,343
|
|
|
Running shoes
Nike or Adidas
|
$92.10
|
$148.00
ISK20,687
|
|
| Men's business shoes (leather) |
$112.23
|
$184.49
ISK25,789
|
|
Change currency:
Compare countries by overall cost of living
Help us improve these prices
ASK THE ELSEWHERE COMMUNITY
Join the Elsewhere community and ask a question about Iceland or New Mexico. It's a free, question-and-answer based forum to discuss what life is like in countries and cities around the world.