Cost of living comparison

Reykjavik, Iceland

compared to

Incheon, South Korea

Incheon vs. Reykjavik Cost of Living Summary

Incheon is 7.2% cheaper than Reykjavik.

Restaurants: pay 64.9% less in Incheon
Groceries: pay 14.2% more in Incheon
Transportation: pay 54.5% less in Incheon
Housing: pay 19.4% less in Incheon
Childcare: pay 2.7 times more in Incheon
Entertainment and Sports: pay 50.6% less in Incheon
Clothing: pay 44.9% less in Incheon

The cost of childcare and groceries in Incheon are more expensive than in Reykjavik. Expenses including restaurants, transportation, entertainment and sports, clothing, and housing are lower in Incheon. Notably, childcare is significantly more expensive in Incheon.

Incheon vs. Reykjavik Cost Breakdown

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

Display currency: USD

pay 64.9% less for restaurants

	Reykjavik	Incheon
Basic meal with drink at inexpensive restaurant	$20.00 ISK2,493	$6.45 ₩8,803	-67.8%
Fast food combo meal McDonalds, or similar	$18.02 ISK2,246	$5.91 ₩8,070	-67.2%
Bottle of Coca-Cola (11 fl. oz)	$3.15 ISK393	$1.32 ₩1,810	-58.0%
Bottle of water (11 fl. oz)	$2.19 ISK272	$0.73 ₩998	-66.6%
Average			-64.9%

Reykjavik vs. Incheon - Cost of restaurants

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pay 14.2% more for groceries

	Reykjavik	Incheon
Bread 1 loaf	$3.61 ISK450	$3.10 ₩4,239	-14.0%
Local cheese (8 oz)	$7.76 ISK967	$6.52 ₩8,911	-15.9%
Milk (1 gallon)	$6.40 ISK798	$7.86 ₩10,738	+22.8%
Eggs 1 dozen	$5.76 ISK718	$3.06 ₩4,177	-46.9%
Boneless chicken breast (1 lb)	$9.45 ISK1,178	$3.57 ₩4,881	-62.2%
Apples (1 lb)	$1.40 ISK175	$3.30 ₩4,504	+135.2%
Bananas (1 lb)	$1.01 ISK126	$1.41 ₩1,923	+39.5%
Oranges (1 lb)	$1.22 ISK152	$2.49 ₩3,402	+104.6%
Tomatoes (1 lb)	$2.22 ISK277	$2.68 ₩3,667	+20.7%
Potatoes (1 lb)	$1.43 ISK179	$1.35 ₩1,849	-5.6%
Onions (1 lb)	$0.93 ISK116	$0.73 ₩998	-21.7%
Average			+14.2%

Reykjavik vs. Incheon - Cost of groceries

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pay 54.5% less for transportation

	Reykjavik	Incheon
Gasoline (1 gallon)	$8.50 ISK1,060	$4.41 ₩6,019	-48.2%
Monthly public transit pass	$74.95 ISK9,343	$25.03 ₩34,192	-66.6%
New Volkswagen Golf 1.4 (standard edition)	$42,450.45 ISK5,291,449	$27,023.07 ₩36,906,983	-36.3%
Taxi trip in downtown area (5 miles)	$24.05 ISK2,998	$7.91 ₩10,799	-67.1%
Average			-54.5%

Reykjavik vs. Incheon - Cost of transportation

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pay 19.4% less for housing

	Reykjavik	Incheon
Internet connection 50 mbps or faster, cable/dsl	$69.87 ISK8,709	$22.27 ₩30,421	-68.1%
1-Bedroom apartment in downtown area	$1,971.17 ISK245,706	$489.41 ₩668,410	-75.2%
1-Bedroom apartment outside city center	$1,803.44 ISK224,799	$334.23 ₩456,475	-81.5%
Utilities for two (700 sq ft apartment) including electric, gas, water, heating	$53.95 ISK6,725	$133.35 ₩182,128	+147.2%
Average			-19.4%

Reykjavik vs. Incheon - Cost of housing

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pay 2.7 times more for childcare

	Reykjavik	Incheon
Private preschool for 1 child, monthly	$252.14 ISK31,429	$276.93 ₩378,222	+9.8%
Middle school for 1 child, two semesters	$5,993.99 ISK747,151	$25,783.32 ₩35,213,787	+330.2%
Average			+170.0%

Reykjavik vs. Incheon - Cost of childcare

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pay 50.6% less for entertainment and sports

	Reykjavik	Incheon
Domestic/local beer (1 pint)	$10.81 ISK1,348	$2.86 ₩3,913	-73.5%
Cappuccino in mid-range area	$5.31 ISK661	$3.46 ₩4,728	-34.8%
Pack of cigarettes Marlboro or similar	$12.25 ISK1,526	$3.22 ₩4,402	-73.7%
Monthly membership at local gym	$69.95 ISK8,719	$39.21 ₩53,554	-43.9%
Movie ticket to theater/cinema	$14.77 ISK1,842	$10.74 ₩14,672	-27.3%
Average			-50.6%

Reykjavik vs. Incheon - Cost of entertainment and sports

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pay 44.9% less for clothing

	Reykjavik	Incheon
Regular jeans Levi's brand	$108.97 ISK13,583	$58.49 ₩79,883	-46.3%
Regular dress from H&M or similar store	$49.72 ISK6,198	$37.24 ₩50,864	-25.1%
Running shoes Nike or Adidas	$151.85 ISK18,929	$60.88 ₩83,144	-59.9%
Men's business shoes (leather)	$194.16 ISK24,202	$100.27 ₩136,943	-48.4%
Average			-44.9%

Reykjavik vs. Incheon - 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: June 2025

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