Cost of living comparison
Madrid is 8.3% cheaper than Reykjavik.
If you lived in Madrid instead of Reykjavik, you would:
pay 22.3% less for restaurants
|
Reykjavik
|
Madrid
|
||
|---|---|---|---|
| Basic meal with drink at inexpensive restaurant |
$20.00
ISK2,783
|
$16.08
€15.41
|
|
|
Fast food combo meal
McDonalds, or similar
|
$18.02
ISK2,507
|
$10.72
€10.28
|
|
| Bottle of Coca-Cola (11 fl. oz) |
$3.15
ISK439
|
$2.79
€2.67
|
|
| Bottle of water (11 fl. oz) |
$2.19
ISK304
|
$1.80
€1.73
|
|
pay 33.2% less for groceries
|
Reykjavik
|
Madrid
|
||
|---|---|---|---|
|
Bread
1 loaf
|
$3.61
ISK502
|
$1.50
€1.44
|
|
| Local cheese (8 oz) |
$7.76
ISK1,079
|
$6.92
€6.64
|
|
| Milk (1 gallon) |
$6.40
ISK891
|
$4.41
€4.23
|
|
|
Eggs
1 dozen
|
$5.76
ISK801
|
$3.05
€2.93
|
|
| Boneless chicken breast (1 lb) |
$9.45
ISK1,314
|
$3.78
€3.63
|
|
| Apples (1 lb) |
$1.40
ISK195
|
$1.13
€1.08
|
|
| Bananas (1 lb) |
$1.01
ISK140
|
$0.87
€0.83
|
|
| Oranges (1 lb) |
$1.22
ISK169
|
$1.01
€0.96
|
|
| Tomatoes (1 lb) |
$2.22
ISK309
|
$1.05
€1.01
|
|
| Potatoes (1 lb) |
$1.43
ISK200
|
$0.83
€0.80
|
|
| Onions (1 lb) |
$0.93
ISK130
|
$0.82
€0.79
|
|
pay 29.2% less for transportation
|
Reykjavik
|
Madrid
|
||
|---|---|---|---|
| Gasoline (1 gallon) |
$8.50
ISK1,183
|
$6.79
€6.51
|
|
| Monthly public transit pass |
$74.95
ISK10,428
|
$42.87
€41.10
|
|
| New Volkswagen Golf 1.4 (standard edition) |
$42,450.45
ISK5,906,131
|
$35,759.38
€34,285.12
|
|
| Taxi trip in downtown area (5 miles) |
$24.05
ISK3,346
|
$14.90
€14.28
|
|
pay 5.2% more for housing
|
Reykjavik
|
Madrid
|
||
|---|---|---|---|
|
Internet connection
50 mbps or faster, cable/dsl
|
$69.87
ISK9,720
|
$31.85
€30.53
|
|
| 1-Bedroom apartment in downtown area |
$1,971.17
ISK274,249
|
$1,468.90
€1,408.34
|
|
| 1-Bedroom apartment outside city center |
$1,803.44
ISK250,913
|
$1,074.71
€1,030.40
|
|
|
Utilities for two
(700 sq ft apartment)
including electric, gas, water, heating
|
$53.95
ISK7,507
|
$130.03
€124.67
|
|
pay 96.5% more for childcare
|
Reykjavik
|
Madrid
|
||
|---|---|---|---|
| Private preschool for 1 child, monthly |
$252.14
ISK35,080
|
$567.57
€544.17
|
|
| Middle school for 1 child, two semesters |
$5,993.99
ISK833,944
|
$10,069.47
€9,654.34
|
|
pay 46.0% less for entertainment and sports
|
Reykjavik
|
Madrid
|
||
|---|---|---|---|
| Domestic/local beer (1 pint) |
$10.81
ISK1,504
|
$3.75
€3.60
|
|
| Cappuccino in mid-range area |
$5.31
ISK738
|
$2.59
€2.48
|
|
|
Pack of cigarettes
Marlboro or similar
|
$12.25
ISK1,704
|
$6.43
€6.17
|
|
| Monthly membership at local gym |
$69.95
ISK9,732
|
$43.11
€41.34
|
|
| Movie ticket to theater/cinema |
$14.77
ISK2,056
|
$10.72
€10.28
|
|
pay 28.8% less for clothing
|
Reykjavik
|
Madrid
|
||
|---|---|---|---|
|
Regular jeans
Levi's brand
|
$108.97
ISK15,161
|
$90.50
€86.77
|
|
|
Regular dress
from H&M or similar store
|
$49.72
ISK6,918
|
$37.21
€35.68
|
|
|
Running shoes
Nike or Adidas
|
$151.85
ISK21,127
|
$97.88
€93.84
|
|
| Men's business shoes (leather) |
$194.16
ISK27,013
|
$121.40
€116.39
|
|
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