Cost of living comparison

compared to

Reykjavik vs. Somerset Cost of Living Summary

Reykjavik is 4.9% more expensive than Somerset.

Restaurants: pay 21.1% more in Reykjavik
Groceries: pay 3.9% less in Reykjavik
Transportation: pay 65.1% more in Reykjavik
Housing: pay 23.6% less in Reykjavik
Childcare: pay 85.7% less in Reykjavik
Entertainment and Sports: pay 30.2% more in Reykjavik
Clothing: pay 30.8% more in Reykjavik

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

Reykjavik vs. Somerset Cost Breakdown

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

Display currency: USD

pay 21.1% more for restaurants

	Somerset	Reykjavik
Basic meal with drink at inexpensive restaurant	$20.00	$20.00 ISK2,825
Fast food combo meal McDonalds, or similar	$12.00	$18.02 ISK2,545	+50.2%
Bottle of Coca-Cola (11 fl. oz)	$2.60	$3.15 ISK445	+21.4%
Bottle of water (11 fl. oz)	$2.39	$2.19 ISK309	-8.4%
Average			+21.1%

Somerset vs. Reykjavik - Cost of restaurants

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pay 3.9% less for groceries

	Somerset	Reykjavik
Bread 1 loaf	$4.04	$3.61 ISK510	-10.6%
Local cheese (8 oz)	$8.52	$7.76 ISK1,096	-8.9%
Milk (1 gallon)	$4.08	$6.40 ISK905	+56.9%
Eggs 1 dozen	$4.23	$5.76 ISK813	+36.2%
Boneless chicken breast (1 lb)	$6.82	$9.45 ISK1,334	+38.4%
Apples (1 lb)	$3.25	$1.40 ISK198	-56.8%
Bananas (1 lb)	$1.04	$1.01 ISK143	-2.5%
Oranges (1 lb)	$2.42	$1.22 ISK172	-49.6%
Tomatoes (1 lb)	$2.70	$2.22 ISK314	-17.5%
Potatoes (1 lb)	$1.24	$1.43 ISK203	+15.4%
Onions (1 lb)	$1.66	$0.93 ISK132	-43.7%
Average			-3.9%

Somerset vs. Reykjavik - Cost of groceries

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pay 65.1% more for transportation

	Somerset	Reykjavik
Gasoline (1 gallon)	$3.45	$8.50 ISK1,201	+146.5%
Monthly public transit pass	??	$74.95 ISK10,587
New Volkswagen Golf 1.4 (standard edition)	$30,000.00	$42,450.45 ISK5,995,702	+41.5%
Taxi trip in downtown area (5 miles)	$22.40	$24.05 ISK3,397	+7.4%
Average			+65.1%

Somerset vs. Reykjavik - Cost of transportation

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pay 23.6% less for housing

	Somerset	Reykjavik
Internet connection 50 mbps or faster, cable/dsl	$57.33	$69.87 ISK9,868	+21.9%
1-Bedroom apartment in downtown area	$2,600.00	$1,971.17 ISK278,408	-24.2%
1-Bedroom apartment outside city center	$2,650.00	$1,803.44 ISK254,718	-31.9%
Utilities for two (700 sq ft apartment) including electric, gas, water, heating	$136.26	$53.95 ISK7,620	-60.4%
Average			-23.6%

Somerset vs. Reykjavik - Cost of housing

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pay 85.7% less for childcare

	Somerset	Reykjavik
Private preschool for 1 child, monthly	$1,366.67	$252.14 ISK35,612	-81.6%
Middle school for 1 child, two semesters	$59,000.00	$5,993.99 ISK846,592	-89.8%
Average			-85.7%

Somerset vs. Reykjavik - Cost of childcare

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pay 30.2% more for entertainment and sports

	Somerset	Reykjavik
Domestic/local beer (1 pint)	$8.00	$10.81 ISK1,527	+35.1%
Cappuccino in mid-range area	$5.00	$5.31 ISK749	+6.1%
Pack of cigarettes Marlboro or similar	$11.00	$12.25 ISK1,729	+11.3%
Monthly membership at local gym	$35.00	$69.95 ISK9,879	+99.8%
Movie ticket to theater/cinema	$15.00	$14.77 ISK2,087	-1.5%
Average			+30.2%

Somerset vs. Reykjavik - Cost of entertainment and sports

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pay 30.8% more for clothing

	Somerset	Reykjavik
Regular jeans Levi's brand	$68.92	$108.97 ISK15,391	+58.1%
Regular dress from H&M or similar store	$45.62	$49.72 ISK7,023	+9.0%
Running shoes Nike or Adidas	$107.85	$151.85 ISK21,448	+40.8%
Men's business shoes (leather)	$168.36	$194.16 ISK27,423	+15.3%
Average			+30.8%

Somerset vs. Reykjavik - 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: January 2025

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