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
ISK2,753
|
$16.08
€15.25
|
|
|
Fast food combo meal
McDonalds, or similar
|
$18.02
ISK2,480
|
$10.72
€10.16
|
|
| Bottle of Coca-Cola (11 fl. oz) |
$3.15
ISK434
|
$2.79
€2.64
|
|
| Bottle of water (11 fl. oz) |
$2.19
ISK301
|
$1.80
€1.71
|
|
pay 33.2% less for groceries
|
Reykjavik
|
Madrid
|
||
|---|---|---|---|
|
Bread
1 loaf
|
$3.61
ISK497
|
$1.50
€1.42
|
|
| Local cheese (8 oz) |
$7.76
ISK1,068
|
$6.92
€6.56
|
|
| Milk (1 gallon) |
$6.40
ISK882
|
$4.41
€4.18
|
|
|
Eggs
1 dozen
|
$5.76
ISK792
|
$3.05
€2.89
|
|
| Boneless chicken breast (1 lb) |
$9.45
ISK1,300
|
$3.78
€3.59
|
|
| Apples (1 lb) |
$1.40
ISK193
|
$1.13
€1.07
|
|
| Bananas (1 lb) |
$1.01
ISK139
|
$0.87
€0.83
|
|
| Oranges (1 lb) |
$1.22
ISK168
|
$1.01
€0.95
|
|
| Tomatoes (1 lb) |
$2.22
ISK306
|
$1.05
€0.99
|
|
| Potatoes (1 lb) |
$1.43
ISK197
|
$0.83
€0.79
|
|
| Onions (1 lb) |
$0.93
ISK129
|
$0.82
€0.78
|
|
pay 29.2% less for transportation
|
Reykjavik
|
Madrid
|
||
|---|---|---|---|
| Gasoline (1 gallon) |
$8.50
ISK1,170
|
$6.79
€6.43
|
|
| Monthly public transit pass |
$74.95
ISK10,318
|
$42.87
€40.66
|
|
| New Volkswagen Golf 1.4 (standard edition) |
$42,450.45
ISK5,843,304
|
$35,759.38
€33,912.83
|
|
| Taxi trip in downtown area (5 miles) |
$24.05
ISK3,311
|
$14.90
€14.13
|
|
pay 5.2% more for housing
|
Reykjavik
|
Madrid
|
||
|---|---|---|---|
|
Internet connection
50 mbps or faster, cable/dsl
|
$69.87
ISK9,617
|
$31.85
€30.20
|
|
| 1-Bedroom apartment in downtown area |
$1,971.17
ISK271,332
|
$1,468.90
€1,393.05
|
|
| 1-Bedroom apartment outside city center |
$1,803.44
ISK248,243
|
$1,074.71
€1,019.21
|
|
|
Utilities for two
(700 sq ft apartment)
including electric, gas, water, heating
|
$53.95
ISK7,427
|
$130.03
€123.32
|
|
pay 96.5% more for childcare
|
Reykjavik
|
Madrid
|
||
|---|---|---|---|
| Private preschool for 1 child, monthly |
$252.14
ISK34,707
|
$567.57
€538.26
|
|
| Middle school for 1 child, two semesters |
$5,993.99
ISK825,073
|
$10,069.47
€9,549.50
|
|
pay 46.0% less for entertainment and sports
|
Reykjavik
|
Madrid
|
||
|---|---|---|---|
| Domestic/local beer (1 pint) |
$10.81
ISK1,488
|
$3.75
€3.56
|
|
| Cappuccino in mid-range area |
$5.31
ISK730
|
$2.59
€2.45
|
|
|
Pack of cigarettes
Marlboro or similar
|
$12.25
ISK1,686
|
$6.43
€6.10
|
|
| Monthly membership at local gym |
$69.95
ISK9,628
|
$43.11
€40.89
|
|
| Movie ticket to theater/cinema |
$14.77
ISK2,034
|
$10.72
€10.16
|
|
pay 28.8% less for clothing
|
Reykjavik
|
Madrid
|
||
|---|---|---|---|
|
Regular jeans
Levi's brand
|
$108.97
ISK15,000
|
$90.50
€85.83
|
|
|
Regular dress
from H&M or similar store
|
$49.72
ISK6,844
|
$37.21
€35.29
|
|
|
Running shoes
Nike or Adidas
|
$151.85
ISK20,903
|
$97.88
€92.82
|
|
| Men's business shoes (leather) |
$194.16
ISK26,726
|
$121.40
€115.13
|
|
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