Cost of living comparison
Iceland is 92.1% more expensive than South Korea.
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
₩8,841
|
$19.40
ISK2,691
|
|
|
Fast food combo meal
McDonalds, or similar
|
$5.24
₩7,520
|
$16.94
ISK2,350
|
|
| Bottle of Coca-Cola (11 fl. oz) |
$1.47
₩2,113
|
$2.81
ISK390
|
|
| Bottle of water (11 fl. oz) |
$0.79
₩1,137
|
$2.02
ISK280
|
|
pay 2.5% more for groceries
|
South Korea
|
Iceland
|
||
|---|---|---|---|
|
Bread
1 loaf
|
$3.08
₩4,416
|
$2.95
ISK410
|
|
| Local cheese (8 oz) |
$5.40
₩7,758
|
$7.27
ISK1,008
|
|
| Milk (1 gallon) |
$7.46
₩10,706
|
$6.01
ISK833
|
|
|
Eggs
1 dozen
|
$2.76
₩3,958
|
$5.42
ISK752
|
|
| Boneless chicken breast (1 lb) |
$3.32
₩4,767
|
$8.51
ISK1,180
|
|
| Apples (1 lb) |
$3.17
₩4,547
|
$1.22
ISK170
|
|
| Bananas (1 lb) |
$1.49
₩2,137
|
$1.03
ISK142
|
|
| Oranges (1 lb) |
$2.53
₩3,634
|
$1.17
ISK162
|
|
| Tomatoes (1 lb) |
$2.41
₩3,466
|
$1.87
ISK260
|
|
| Potatoes (1 lb) |
$1.82
₩2,620
|
$1.23
ISK171
|
|
| Onions (1 lb) |
$1.21
₩1,737
|
$0.78
ISK109
|
|
pay 92.0% more for transportation
|
South Korea
|
Iceland
|
||
|---|---|---|---|
| Gasoline (1 gallon) |
$4.39
₩6,305
|
$8.36
ISK1,160
|
|
| Monthly public transit pass |
$45.32
₩65,049
|
$71.28
ISK9,888
|
|
| New Volkswagen Golf 1.4 (standard edition) |
$27,023.07
₩38,790,260
|
$40,660.66
ISK5,640,447
|
|
| Taxi trip in downtown area (5 miles) |
$8.17
₩11,730
|
$22.04
ISK3,057
|
|
pay 3.4 times more for housing
|
South Korea
|
Iceland
|
||
|---|---|---|---|
|
Internet connection
50 mbps or faster, cable/dsl
|
$17.65
₩25,342
|
$72.17
ISK10,012
|
|
| 1-Bedroom apartment in downtown area |
$426.93
₩612,839
|
$1,838.04
ISK254,973
|
|
| 1-Bedroom apartment outside city center |
$328.41
₩471,421
|
$1,497.77
ISK207,771
|
|
|
Utilities for two
(700 sq ft apartment)
including electric, gas, water, heating
|
$111.42
₩159,941
|
$58.01
ISK8,048
|
|
pay 52.3% less for childcare
|
South Korea
|
Iceland
|
||
|---|---|---|---|
| Private preschool for 1 child, monthly |
$373.40
₩535,998
|
$258.16
ISK35,813
|
|
| Middle school for 1 child, two semesters |
$22,907.58
₩32,882,679
|
$5,993.99
ISK831,487
|
|
pay 2.2 times more for entertainment and sports
|
South Korea
|
Iceland
|
||
|---|---|---|---|
| Domestic/local beer (1 pint) |
$3.09
₩4,441
|
$9.19
ISK1,275
|
|
| Cappuccino in mid-range area |
$3.39
₩4,865
|
$4.65
ISK645
|
|
|
Pack of cigarettes
Marlboro or similar
|
$3.21
₩4,613
|
$11.76
ISK1,631
|
|
| Monthly membership at local gym |
$45.71
₩65,616
|
$61.46
ISK8,526
|
|
| Movie ticket to theater/cinema |
$10.10
₩14,496
|
$14.35
ISK1,990
|
|
pay 79.2% more for clothing
|
South Korea
|
Iceland
|
||
|---|---|---|---|
|
Regular jeans
Levi's brand
|
$60.70
₩87,138
|
$111.23
ISK15,430
|
|
|
Regular dress
from H&M or similar store
|
$44.52
₩63,910
|
$59.69
ISK8,280
|
|
|
Running shoes
Nike or Adidas
|
$72.99
₩104,777
|
$148.00
ISK20,530
|
|
| Men's business shoes (leather) |
$93.73
₩134,545
|
$184.49
ISK25,593
|
|
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