Cost of living comparison
Iceland is 92.1% more expensive than South Korea overall.
- Restaurants
-
pay 2.7 times more in Iceland
- Groceries
-
pay 2.5% more in Iceland
- Transportation
-
pay 92.0% more in Iceland
- Housing
-
pay 3.4 times more in Iceland
- Childcare
-
pay 52.3% less in Iceland
- Entertainment and Sports
-
pay 2.2 times more in Iceland
- Clothing
-
pay 79.2% more in Iceland
The cost of housing, restaurants, entertainment and sports, transportation, clothing, and groceries in Iceland are more expensive than in South Korea. Notably, housing, restaurants, and entertainment and sports are significantly more expensive in Iceland.
If you lived in Iceland instead of South Korea, you would:
pay 2.7 times more for restaurants
|
South Korea
|
Iceland
|
||
|---|---|---|---|
| Basic meal with drink at inexpensive restaurant |
$6.16
₩8,916
|
$19.40
ISK2,633
|
|
|
Fast food combo meal
McDonalds, or similar
|
$5.24
₩7,584
|
$16.94
ISK2,300
|
|
| Bottle of Coca-Cola (11 fl. oz) |
$1.47
₩2,131
|
$2.81
ISK382
|
|
| Bottle of water (11 fl. oz) |
$0.79
₩1,146
|
$2.02
ISK274
|
|
pay 2.5% more for groceries
|
South Korea
|
Iceland
|
||
|---|---|---|---|
|
Bread
1 loaf
|
$3.08
₩4,453
|
$2.95
ISK401
|
|
| Local cheese (8 oz) |
$5.40
₩7,823
|
$7.27
ISK986
|
|
| Milk (1 gallon) |
$7.46
₩10,796
|
$6.01
ISK815
|
|
|
Eggs
1 dozen
|
$2.76
₩3,991
|
$5.42
ISK736
|
|
| Boneless chicken breast (1 lb) |
$3.32
₩4,807
|
$8.51
ISK1,155
|
|
| Apples (1 lb) |
$3.17
₩4,585
|
$1.22
ISK166
|
|
| Bananas (1 lb) |
$1.49
₩2,155
|
$1.03
ISK139
|
|
| Oranges (1 lb) |
$2.53
₩3,664
|
$1.17
ISK159
|
|
| Tomatoes (1 lb) |
$2.41
₩3,495
|
$1.87
ISK254
|
|
| Potatoes (1 lb) |
$1.82
₩2,642
|
$1.23
ISK168
|
|
| Onions (1 lb) |
$1.21
₩1,751
|
$0.78
ISK107
|
|
pay 92.0% more for transportation
|
South Korea
|
Iceland
|
||
|---|---|---|---|
| Gasoline (1 gallon) |
$4.39
₩6,358
|
$8.36
ISK1,135
|
|
| Monthly public transit pass |
$45.32
₩65,596
|
$71.28
ISK9,676
|
|
| New Volkswagen Golf 1.4 (standard edition) |
$27,023.07
₩39,116,293
|
$40,660.66
ISK5,519,478
|
|
| Taxi trip in downtown area (5 miles) |
$8.17
₩11,829
|
$22.04
ISK2,991
|
|
pay 3.4 times more for housing
|
South Korea
|
Iceland
|
||
|---|---|---|---|
|
Internet connection
50 mbps or faster, cable/dsl
|
$17.65
₩25,555
|
$72.17
ISK9,797
|
|
| 1-Bedroom apartment in downtown area |
$426.93
₩617,990
|
$1,838.04
ISK249,504
|
|
| 1-Bedroom apartment outside city center |
$328.41
₩475,383
|
$1,497.77
ISK203,315
|
|
|
Utilities for two
(700 sq ft apartment)
including electric, gas, water, heating
|
$111.42
₩161,286
|
$58.01
ISK7,875
|
|
pay 52.3% less for childcare
|
South Korea
|
Iceland
|
||
|---|---|---|---|
| Private preschool for 1 child, monthly |
$373.40
₩540,503
|
$258.16
ISK35,045
|
|
| Middle school for 1 child, two semesters |
$22,907.58
₩33,159,059
|
$5,993.99
ISK813,654
|
|
pay 2.2 times more for entertainment and sports
|
South Korea
|
Iceland
|
||
|---|---|---|---|
| Domestic/local beer (1 pint) |
$3.09
₩4,479
|
$9.19
ISK1,247
|
|
| Cappuccino in mid-range area |
$3.39
₩4,906
|
$4.65
ISK631
|
|
|
Pack of cigarettes
Marlboro or similar
|
$3.21
₩4,652
|
$11.76
ISK1,596
|
|
| Monthly membership at local gym |
$45.71
₩66,168
|
$61.46
ISK8,343
|
|
| Movie ticket to theater/cinema |
$10.10
₩14,618
|
$14.35
ISK1,948
|
|
pay 79.2% more for clothing
|
South Korea
|
Iceland
|
||
|---|---|---|---|
|
Regular jeans
Levi's brand
|
$60.70
₩87,871
|
$111.23
ISK15,099
|
|
|
Regular dress
from H&M or similar store
|
$44.52
₩64,447
|
$59.69
ISK8,102
|
|
|
Running shoes
Nike or Adidas
|
$72.99
₩105,657
|
$148.00
ISK20,090
|
|
| Men's business shoes (leather) |
$93.73
₩135,676
|
$184.49
ISK25,044
|
|
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