Published: Monday, 21th October 2024
The cost of living in Iceland is 2.55 times more expensive as compared to North Macedonia.
On this page, you will find side-by-side cost comparison between Iceland and North Macedonia. We have created 172 cost-of-living indicators. We average the prices of all those indicators and take a mathematically calculated approach to determine which country is more expensive to live in between Iceland and North Macedonia.
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Indicators | Iceland | North Macedonia |
---|---|---|
1 BHK Apartment in City Center | 200,000 ISK (1,420 USD) | 25,000 MKD (425 USD) |
2 BHK Apartment in City Center | 300,000 ISK (2,130 USD) | 35,000 MKD (595 USD) |
3 BHK Apartment in City Center | 400,000 ISK (2,840 USD) | 50,000 MKD (850 USD) |
1 BHK Apartment outside City Center | 150,000 ISK (1,065 USD) | 15,000 MKD (255 USD) |
2 BHK Apartment outside City Center | 200,000 ISK (1,420 USD) | 25,000 MKD (425 USD) |
3 BHK Apartment outside City Center | 300,000 ISK (2,130 USD) | 35,000 MKD (595 USD) |
Mortgage Rates Per Month | 4 % | 1.9 % |
Realtor Commission | 2 % | 3 % |
Property Taxes | 0.2 to 1.65 % | 0.1 to 0.3 % |
The average housing cost in Iceland is 3.48 times more expensive than North Macedonia.
Indicators | Iceland | North Macedonia |
---|---|---|
Basic Home Furnishing | 300,000 ISK (2,130 USD) | 100,000 MKD (1,700 USD) |
Electricity Cost Per Month | 20,000 ISK (142 USD) | 5,000 MKD (85 USD) |
Heating Cost Per Month | 25,000 ISK (177.50 USD) | 4,000 MKD (68 USD) |
Cooling Cost Per Month | 10,000 ISK (71 USD) | 3,000 MKD (51 USD) |
Water Supply Cost Per Month | 5,000 ISK (35.50 USD) | 1,500 MKD (25.50 USD) |
If you lived in Iceland, instead of North Macedonia, you would have to pay 32.47% more for Utilities.
The basic home furnishing in Iceland costs 1.25 times more compared to North Macedonia.
Indicators | Iceland | North Macedonia |
---|---|---|
Standard Wifi Cost Per Month | 10,000 ISK (71 USD) | 2,000 MKD (34 USD) |
Mobile Phone Basic Plan Cost Per Month | 5,000 ISK (35.50 USD) | 1,000 MKD (17 USD) |
Landline Basic Plan Cost Per Month | 3,000 ISK (21.30 USD) | 1,000 MKD (17 USD) |
Cable TV Basic Plan Cost Per Month | 8,000 ISK (56.80 USD) | 1,500 MKD (25.50 USD) |
The internet and communication costs 97.43% more in Iceland compared to North Macedonia.
Indicators | Iceland | North Macedonia |
---|---|---|
Long Grain Rice (1 KG) | 500 ISK (3.55 USD) | 80 MKD (1.36 USD) |
Milk (1 Liter) | 250 ISK (1.78 USD) | 80 MKD (1.36 USD) |
Water (1 Liter) | 50 ISK (0.36 USD) | 25 MKD (0.43 USD) |
Bread (500 gm) | 150 ISK (1.07 USD) | 40 MKD (0.68 USD) |
Eggs (1 Dozen) | 500 ISK (3.55 USD) | 120 MKD (2.04 USD) |
Cheese (1 KG) | 1,200 ISK (8.52 USD) | 250 MKD (4.25 USD) |
Chicken Breast (1 KG) | 1,000 ISK (7.10 USD) | 300 MKD (5.10 USD) |
In Iceland, the cost of 1 Liter Water and 1 Liter Milk is 1.19 times more expensive than the cost in North Macedonia.
If you lived in Iceland, instead of North Macedonia, you would have to pay 70.33% more for Groceries.
Indicators | Iceland | North Macedonia |
---|---|---|
Apples (1 KG) | 800 ISK (5.68 USD) | 100 MKD (1.70 USD) |
Bananas (1 KG) | 600 ISK (4.26 USD) | 80 MKD (1.36 USD) |
Oranges (1 KG) | 700 ISK (4.97 USD) | 90 MKD (1.53 USD) |
Tomatoes (1 KG) | 500 ISK (3.55 USD) | 80 MKD (1.36 USD) |
Potatoes (1 KG) | 400 ISK (2.84 USD) | 50 MKD (0.85 USD) |
Lemons (1 KG) | 700 ISK (4.97 USD) | 100 MKD (1.70 USD) |
Onions (1 KG) | 600 ISK (4.26 USD) | 80 MKD (1.36 USD) |
Lentils (1 KG) | 600 ISK (4.26 USD) | 120 MKD (2.04 USD) |
If you lived in Iceland, instead of North Macedonia, you would have to pay 2.92 times more for Fruits and Vegetables.
Indicators | Iceland | North Macedonia |
---|---|---|
Meal at a Resonable Restaurant | 3,500 ISK (24.85 USD) | 700 MKD (11.90 USD) |
Three-Course Meal for Two | 8,000 ISK (56.80 USD) | 2,000 MKD (34 USD) |
Fast Food Combo Meal | 1,500 ISK (10.65 USD) | 500 MKD (8.50 USD) |
Normal Coffee | 500 ISK (3.55 USD) | 50 MKD (0.85 USD) |
Soft Drink | 300 ISK (2.13 USD) | 40 MKD (0.68 USD) |
Pizza for One | 2,500 ISK (17.75 USD) | 300 MKD (5.10 USD) |
Take-Out Delivery Meal | 3,000 ISK (21.30 USD) | 600 MKD (10.20 USD) |
Cigarette Pack of 20 | 1,500 ISK (10.65 USD) | 250 MKD (4.25 USD) |
Dining-Out costs 95.65% more in Iceland compared to North Macedonia.
Indicators | Iceland | North Macedonia |
---|---|---|
Wine Mid-Range Bottle | 2,000 ISK (14.20 USD) | 300 MKD (5.10 USD) |
Glass of Wine | 1,200 ISK (8.52 USD) | 150 MKD (2.55 USD) |
Domestic Beer Half Liter | 600 ISK (4.26 USD) | 60 MKD (1.02 USD) |
Imported Beer Half Liter | 800 ISK (5.68 USD) | 100 MKD (1.70 USD) |
Domestic Alcohol 1 Liter | 3,000 ISK (21.30 USD) | 300 MKD (5.10 USD) |
Branded Alcohol 1 Liter | 4,000 ISK (28.40 USD) | 500 MKD (8.50 USD) |
If you lived in Iceland, instead of North Macedonia, you would have to pay 3.44 times more for usual hard drinks.
Indicators | Iceland | North Macedonia |
---|---|---|
Monthly Public Transportation Pass | 15,000 ISK (106.50 USD) | 1,500 MKD (25.50 USD) |
Single Public Transportation Ticket | 400 ISK (2.84 USD) | 30 MKD (0.51 USD) |
Single Train Ticket | Yet to Update () | Yet to Update () |
Domestic Airplane Ticket | 30,000 ISK (213 USD) | 20,000 MKD (340 USD) |
Taxi Start Fare | 800 ISK (5.68 USD) | 50 MKD (0.85 USD) |
Taxi Rate Per Kilometer | 200 ISK (1.42 USD) | 30 MKD (0.51 USD) |
Car Rental Per Day | 10,000 ISK (71 USD) | 2,000 MKD (34 USD) |
Parking Fees in City Center Per Hour | 500 ISK (3.55 USD) | 20 MKD (0.34 USD) |
Parking Fees outside City Center Per Hour | 300 ISK (2.13 USD) | 10 MKD (0.17 USD) |
If you lived in Iceland, instead of North Macedonia, you would have to pay 1.01 times more for transportation.
Indicators | Iceland | North Macedonia |
---|---|---|
Reasonable Vehicle Purchase Cost | 4,000,000 ISK (28,400 USD) | 500,000 MKD (8,500 USD) |
Vehicle Registration Cost | 15,000 ISK (106.50 USD) | 5,000 MKD (85 USD) |
Driving License Fees | 5,000 ISK (35.50 USD) | 1,000 MKD (17 USD) |
Car Insurance Cost | 40,000 ISK (284 USD) | 15,000 MKD (255 USD) |
Car Maintenance Cost | 15,000 ISK (106.50 USD) | 5,000 MKD (85 USD) |
Car Loan Interest Rates | 5 % | 7 % |
Fuel Per Liter | 250 ISK (1.78 USD) | 75 MKD (1.28 USD) |
Fuel Per Gallon | 1,200 ISK (8.52 USD) | 300 MKD (5.10 USD) |
Average Toll Fees | 1,000 ISK 7.10 USD | Yet to Update |
You would have to pay 3.24 times more for Vehicle purchase, daily operation and maintenance in Iceland compared to that of North Macedonia.
Indicators | Iceland | North Macedonia |
---|---|---|
Doctor Visit | 5,000 ISK (35.50 USD) | 1,000 MKD (17 USD) |
Specialist Visit | 10,000 ISK (71 USD) | 2,000 MKD (34 USD) |
Dentist Visit | 8,000 ISK (56.80 USD) | 1,500 MKD (25.50 USD) |
Eye Exam | 3,000 ISK (21.30 USD) | 500 MKD (8.50 USD) |
Mental Health Counseling | 8,000 ISK (56.80 USD) | 1,500 MKD (25.50 USD) |
Preventive Health Screening | 4,000 ISK (28.40 USD) | 1,000 MKD (17 USD) |
Physical Therapy | 6,000 ISK (42.60 USD) | 1,000 MKD (17 USD) |
Emergency Room Visit | 15,000 ISK (106.50 USD) | 5,000 MKD (85 USD) |
Hospital Stay Per Night | 25,000 ISK (177.50 USD) | 3,000 MKD (51 USD) |
Vaccinations | 2,500 ISK (17.75 USD) | 500 MKD (8.50 USD) |
Prescription Medication | 1,500 ISK (10.65 USD) | 300 MKD (5.10 USD) |
Over the Counter Medication | 800 ISK (5.68 USD) | 150 MKD (2.55 USD) |
Health Insurance Premiums | 20,000 ISK (142 USD) | 15,000 MKD (255 USD) |
Health Insurance Deductibles | 5,000 ISK (35.50 USD) | 5,000 MKD (85 USD) |
If you lived in Iceland, instead of North Macedonia, you would have to pay 1.27 times more for Health and Medical Treatment.
Indicators | Iceland | North Macedonia |
---|---|---|
Cosmetic Procedures | 30,000 ISK (213 USD) | 5,000 MKD (85 USD) |
Spa Treatment | 10,000 ISK (71 USD) | 1,500 MKD (25.50 USD) |
Manicure Pedicure Cost | 3,000 ISK (21.30 USD) | 500 MKD (8.50 USD) |
Optical Glasses Cost | 10,000 ISK (71 USD) | 1,500 MKD (25.50 USD) |
Contact Lenses Cost | 5,000 ISK (35.50 USD) | 1,000 MKD (17 USD) |
Haircuts | 2,000 ISK (14.20 USD) | 500 MKD (8.50 USD) |
Hair Coloring | 6,000 ISK (42.60 USD) | 1,000 MKD (17 USD) |
Shampoo Price | 500 ISK (3.55 USD) | 50 MKD (0.85 USD) |
Toothpaste Price | 200 ISK (1.42 USD) | 30 MKD (0.51 USD) |
If you lived in Iceland, instead of North Macedonia, you would have to pay 2.51 times more for Personal Care Items and Treatment.
Indicators | Iceland | North Macedonia |
---|---|---|
Pair of Nike Running Shoes | 15,000 ISK (106.50 USD) | 5,000 MKD (85 USD) |
Men's Shirt | 5,000 ISK (35.50 USD) | 1,000 MKD (17 USD) |
Women's Dress | 10,000 ISK (71 USD) | 4,000 MKD (68 USD) |
Summer Dress | 5,000 ISK (35.50 USD) | 3,000 MKD (51 USD) |
Men's Suit | 40,000 ISK (284 USD) | 15,000 MKD (255 USD) |
Men's Jeans | 7,000 ISK (49.70 USD) | 3,000 MKD (51 USD) |
Women's Jeans | 6,000 ISK (42.60 USD) | 3,000 MKD (51 USD) |
Men's Formal Shoes | 7,000 ISK (49.70 USD) | 5,000 MKD (85 USD) |
Women's Formal Shoes | 7,000 ISK (49.70 USD) | 5,000 MKD (85 USD) |
Men's Casual Shoes | 5,000 ISK (35.50 USD) | 4,000 MKD (68 USD) |
Women's Casual Shoes | 4,000 ISK (28.40 USD) | 4,000 MKD (68 USD) |
Underwear For Men | 1,000 ISK (7.10 USD) | 300 MKD (5.10 USD) |
Underwear For Women | 1,200 ISK (8.52 USD) | 400 MKD (6.80 USD) |
Socks For Men | 300 ISK (2.13 USD) | 100 MKD (1.70 USD) |
Socks For Women | 400 ISK (2.84 USD) | 100 MKD (1.70 USD) |
Wintercoat for Adults | 8,000 ISK (56.80 USD) | 5,000 MKD (85 USD) |
Sportswear | 6,000 ISK (42.60 USD) | 3,000 MKD (51 USD) |
If you lived in Iceland, instead of North Macedonia, you would have to pay 1.14 times less for Clothing and Footwear for Adults.
Indicators | Iceland | North Macedonia |
---|---|---|
Children's Jeans | 3,500 ISK (24.85 USD) | 1,500 MKD (25.50 USD) |
Children's Normal Sneakers | 4,000 ISK (28.40 USD) | 2,000 MKD (34 USD) |
Children's Winter Coat | 6,000 ISK (42.60 USD) | 3,000 MKD (51 USD) |
Daycare for Infant | 25,000 ISK (177.50 USD) | 8,000 MKD (136 USD) |
Daycare for Toddler | 20,000 ISK (142 USD) | 6,000 MKD (102 USD) |
Childcare for Sick Days | 1,500 ISK (10.65 USD) | 1,000 MKD (17 USD) |
Early Childhood Education Programs | 6,000 ISK (42.60 USD) | 8,000 MKD (136 USD) |
Extra Curricular Activities | 3,000 ISK (21.30 USD) | 1,500 MKD (25.50 USD) |
Summer Camp for Kids | 8,000 ISK (56.80 USD) | 6,000 MKD (102 USD) |
If you lived in Iceland, instead of North Macedonia, you would have to pay 1.15 times less for Childcare and kids clothing.
Indicators | Iceland | North Macedonia |
---|---|---|
PreSchool Fees | 30,000 ISK (213 USD) | 10,000 MKD (170 USD) |
Primary School Fees | 40,000 ISK (284 USD) | 15,000 MKD (255 USD) |
Secondary School Fees | 60,000 ISK (426 USD) | 20,000 MKD (340 USD) |
Private School Fees | 80,000 ISK (568 USD) | 30,000 MKD (510 USD) |
University Tuition Fees | 150,000 ISK (1,065 USD) | 40,000 MKD (680 USD) |
University Private Tuition Fees | 200,000 ISK (1,420 USD) | 60,000 MKD (1,020 USD) |
After School Activities | 5,000 ISK (35.50 USD) | 2,000 MKD (34 USD) |
Special Education Services | 7,000 ISK (49.70 USD) | 12,000 MKD (204 USD) |
Tutoring | 5,000 ISK (35.50 USD) | 1,000 MKD (17 USD) |
Textbooks Cost | 4,000 ISK (28.40 USD) | 1,500 MKD (25.50 USD) |
School Supplies | 2,000 ISK (14.20 USD) | 500 MKD (8.50 USD) |
If you lived in Iceland, instead of North Macedonia, you would have to pay 1.27 times more for school and education.
Indicators | Iceland | North Macedonia |
---|---|---|
Movie Ticket (Single) | 1,000 ISK (7.10 USD) | 150 MKD (2.55 USD) |
Theater Ticket (Single) | 2,000 ISK (14.20 USD) | 200 MKD (3.40 USD) |
Concert Ticket (Single) | 2,500 ISK (17.75 USD) | 300 MKD (5.10 USD) |
Sports Event Ticket (Single) | 1,500 ISK (10.65 USD) | 250 MKD (4.25 USD) |
Gym Membership | 6,000 ISK (42.60 USD) | 1,000 MKD (17 USD) |
Swimming Pool Access | 5,000 ISK (35.50 USD) | 800 MKD (13.60 USD) |
Museum Entry Ticket | 1,000 ISK (7.10 USD) | 200 MKD (3.40 USD) |
Zoo Entry Ticket | 1,500 ISK (10.65 USD) | 300 MKD (5.10 USD) |
Amusement Park Entry Ticket | 2,000 ISK (14.20 USD) | 500 MKD (8.50 USD) |
Bowling | 1,000 ISK (7.10 USD) | 200 MKD (3.40 USD) |
Mini Golf | 1,500 ISK (10.65 USD) | 300 MKD (5.10 USD) |
Video Games | 5,000 ISK (35.50 USD) | 2,000 MKD (34 USD) |
Streaming Services | 1,000 ISK (7.10 USD) | 500 MKD (8.50 USD) |
Outdoor Equipment Rental | 1,000 ISK (7.10 USD) | 200 MKD (3.40 USD) |
Theme Park Annual Pass | 50,000 ISK (355 USD) | 15,000 MKD (255 USD) |
If you lived in Iceland, instead of North Macedonia, you would have to pay 1.56 times more for entertainment, recreation and fun activities.
Indicators | Iceland | North Macedonia |
---|---|---|
Language Classes | 5,000 ISK (35.50 USD) | 10,000 MKD (170 USD) |
Parenting Classes | 5,000 ISK (35.50 USD) | 8,000 MKD (136 USD) |
Art Classes | 3,000 ISK (21.30 USD) | 800 MKD (13.60 USD) |
Fitness Classes | 6,000 ISK (42.60 USD) | 500 MKD (8.50 USD) |
Music Lessons | 4,000 ISK (28.40 USD) | 1,000 MKD (17 USD) |
Dance Lessons | 4,000 ISK (28.40 USD) | 1,000 MKD (17 USD) |
Reading Materials for Classes | 1,000 ISK (7.10 USD) | 300 MKD (5.10 USD) |
Educational Software | 3,000 ISK (21.30 USD) | 6,000 MKD (102 USD) |
If you lived in Iceland, instead of North Macedonia, you would have to pay 2.13 times less for Private Classes.
Indicators | Iceland | North Macedonia |
---|---|---|
Average Gross Monthly Salary | 450,000 ISK (3,195 USD) | 40,000 MKD (680 USD) |
Average Net Monthly Salary | 350,000 ISK (2,485 USD) | 25,000 MKD (425 USD) |
Minimum Wages | 6,666.67 ISK per hour (47.33 USD) | 666.67 MKD per hour (11.33 USD) |
Average Bonus | 40,000 ISK (284 USD) | 5,000 MKD (85 USD) |
Income Tax Rate | 0 to 24 % | 0 to 18 % |
Social Security Contributions | 7 % | 10 % |
Pension Contributions | 8 % | 5 % |
Cost of Living Index | 12 | 50 |
Median Household Income | 400,000 ISK (2,840 USD) | 70,000 MKD (1,190 USD) |
If you lived in Iceland, you would earn 3.70 times more salary as compared to North Macedonia.
Indicators | Iceland | North Macedonia |
---|---|---|
Legal Consultation Per Hour Rate | 10,000 ISK (71 USD) | 1,500 MKD (25.50 USD) |
Accounting Services Per Hour Rate | 7,000 ISK (49.70 USD) | 2,000 MKD (34 USD) |
IT Support Services Per Hour Rate | 5,000 ISK (35.50 USD) | 2,000 MKD (34 USD) |
Technician Services Per Hour Rate | 4,000 ISK (28.40 USD) | 1,500 MKD (25.50 USD) |
Professional Services cost 1.55 times more in Iceland, as compared to North Macedonia.
We hope you enjoyed the detailed guide on the cost of living comparsion between Iceland and North Macedonia.
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