Published: Monday, 21th October 2024
The cost of living in Iceland is 1.65 times less expensive as compared to Norway.
On this page, you will find side-by-side cost comparison between Iceland and Norway. 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 Norway.
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Indicators | Iceland | Norway |
---|---|---|
1 BHK Apartment in City Center | 200,000 ISK (1,420 USD) | 12,500 NOK (1,125 USD) |
2 BHK Apartment in City Center | 300,000 ISK (2,130 USD) | 20,000 NOK (1,800 USD) |
3 BHK Apartment in City Center | 400,000 ISK (2,840 USD) | 27,500 NOK (2,475 USD) |
1 BHK Apartment outside City Center | 150,000 ISK (1,065 USD) | 8,500 NOK (765 USD) |
2 BHK Apartment outside City Center | 200,000 ISK (1,420 USD) | 14,000 NOK (1,260 USD) |
3 BHK Apartment outside City Center | 300,000 ISK (2,130 USD) | 20,000 NOK (1,800 USD) |
Mortgage Rates Per Month | 4 % | 1.5 % |
Realtor Commission | 2 % | 3 % |
Property Taxes | 0.2 to 1.65 % | 0.2 to 0.7 % |
The average housing cost in Iceland is 1.19 times more expensive than Norway.
Indicators | Iceland | Norway |
---|---|---|
Basic Home Furnishing | 300,000 ISK (2,130 USD) | 50,000 NOK (4,500 USD) |
Electricity Cost Per Month | 20,000 ISK (142 USD) | 1,000 NOK (90 USD) |
Heating Cost Per Month | 25,000 ISK (177.50 USD) | 1,500 NOK (135 USD) |
Cooling Cost Per Month | 10,000 ISK (71 USD) | 500 NOK (45 USD) |
Water Supply Cost Per Month | 5,000 ISK (35.50 USD) | 300 NOK (27 USD) |
If you lived in Iceland, instead of Norway, you would have to pay 46.72% less for Utilities.
The basic home furnishing in Iceland costs 2.11 times less compared to Norway.
Indicators | Iceland | Norway |
---|---|---|
Standard Wifi Cost Per Month | 10,000 ISK (71 USD) | 500 NOK (45 USD) |
Mobile Phone Basic Plan Cost Per Month | 5,000 ISK (35.50 USD) | 300 NOK (27 USD) |
Landline Basic Plan Cost Per Month | 3,000 ISK (21.30 USD) | 300 NOK (27 USD) |
Cable TV Basic Plan Cost Per Month | 8,000 ISK (56.80 USD) | 400 NOK (36 USD) |
The internet and communication costs 36.74% more in Iceland compared to Norway.
Indicators | Iceland | Norway |
---|---|---|
Long Grain Rice (1 KG) | 500 ISK (3.55 USD) | 40 NOK (3.60 USD) |
Milk (1 Liter) | 250 ISK (1.78 USD) | 20 NOK (1.80 USD) |
Water (1 Liter) | 50 ISK (0.36 USD) | 5 NOK (0.45 USD) |
Bread (500 gm) | 150 ISK (1.07 USD) | 30 NOK (2.70 USD) |
Eggs (1 Dozen) | 500 ISK (3.55 USD) | 40 NOK (3.60 USD) |
Cheese (1 KG) | 1,200 ISK (8.52 USD) | 120 NOK (10.80 USD) |
Chicken Breast (1 KG) | 1,000 ISK (7.10 USD) | 150 NOK (13.50 USD) |
In Iceland, the cost of 1 Liter Water and 1 Liter Milk is 1.06 times less expensive than the cost in Norway.
If you lived in Iceland, instead of Norway, you would have to pay 28.90% less for Groceries.
Indicators | Iceland | Norway |
---|---|---|
Apples (1 KG) | 800 ISK (5.68 USD) | 30 NOK (2.70 USD) |
Bananas (1 KG) | 600 ISK (4.26 USD) | 30 NOK (2.70 USD) |
Oranges (1 KG) | 700 ISK (4.97 USD) | 40 NOK (3.60 USD) |
Tomatoes (1 KG) | 500 ISK (3.55 USD) | 30 NOK (2.70 USD) |
Potatoes (1 KG) | 400 ISK (2.84 USD) | 20 NOK (1.80 USD) |
Lemons (1 KG) | 700 ISK (4.97 USD) | 40 NOK (3.60 USD) |
Onions (1 KG) | 600 ISK (4.26 USD) | 30 NOK (2.70 USD) |
Lentils (1 KG) | 600 ISK (4.26 USD) | 40 NOK (3.60 USD) |
If you lived in Iceland, instead of Norway, you would have to pay 1.49 times more for Fruits and Vegetables.
Indicators | Iceland | Norway |
---|---|---|
Meal at a Resonable Restaurant | 3,500 ISK (24.85 USD) | 250 NOK (22.50 USD) |
Three-Course Meal for Two | 8,000 ISK (56.80 USD) | 800 NOK (72 USD) |
Fast Food Combo Meal | 1,500 ISK (10.65 USD) | 130 NOK (11.70 USD) |
Normal Coffee | 500 ISK (3.55 USD) | 40 NOK (3.60 USD) |
Soft Drink | 300 ISK (2.13 USD) | 30 NOK (2.70 USD) |
Pizza for One | 2,500 ISK (17.75 USD) | 150 NOK (13.50 USD) |
Take-Out Delivery Meal | 3,000 ISK (21.30 USD) | 180 NOK (16.20 USD) |
Cigarette Pack of 20 | 1,500 ISK (10.65 USD) | 150 NOK (13.50 USD) |
Dining-Out costs 5.15% less in Iceland compared to Norway.
Indicators | Iceland | Norway |
---|---|---|
Wine Mid-Range Bottle | 2,000 ISK (14.20 USD) | 200 NOK (18 USD) |
Glass of Wine | 1,200 ISK (8.52 USD) | 90 NOK (8.10 USD) |
Domestic Beer Half Liter | 600 ISK (4.26 USD) | 50 NOK (4.50 USD) |
Imported Beer Half Liter | 800 ISK (5.68 USD) | 70 NOK (6.30 USD) |
Domestic Alcohol 1 Liter | 3,000 ISK (21.30 USD) | 250 NOK (22.50 USD) |
Branded Alcohol 1 Liter | 4,000 ISK (28.40 USD) | 350 NOK (31.50 USD) |
If you lived in Iceland, instead of Norway, you would have to pay 1.10 times less for usual hard drinks.
Indicators | Iceland | Norway |
---|---|---|
Monthly Public Transportation Pass | 15,000 ISK (106.50 USD) | 800 NOK (72 USD) |
Single Public Transportation Ticket | 400 ISK (2.84 USD) | 50 NOK (4.50 USD) |
Single Train Ticket | Yet to Update () | 500 NOK (45 USD) |
Domestic Airplane Ticket | 30,000 ISK (213 USD) | 1,500 NOK (135 USD) |
Taxi Start Fare | 800 ISK (5.68 USD) | 80 NOK (7.20 USD) |
Taxi Rate Per Kilometer | 200 ISK (1.42 USD) | 20 NOK (1.80 USD) |
Car Rental Per Day | 10,000 ISK (71 USD) | 600 NOK (54 USD) |
Parking Fees in City Center Per Hour | 500 ISK (3.55 USD) | 30 NOK (2.70 USD) |
Parking Fees outside City Center Per Hour | 300 ISK (2.13 USD) | 20 NOK (1.80 USD) |
If you lived in Iceland, instead of Norway, you would have to pay 1.25 times more for transportation.
Indicators | Iceland | Norway |
---|---|---|
Reasonable Vehicle Purchase Cost | 4,000,000 ISK (28,400 USD) | 350,000 NOK (31,500 USD) |
Vehicle Registration Cost | 15,000 ISK (106.50 USD) | 2,500 NOK (225 USD) |
Driving License Fees | 5,000 ISK (35.50 USD) | 1,500 NOK (135 USD) |
Car Insurance Cost | 40,000 ISK (284 USD) | 12,000 NOK (1,080 USD) |
Car Maintenance Cost | 15,000 ISK (106.50 USD) | 6,000 NOK (540 USD) |
Car Loan Interest Rates | 5 % | 4 % |
Fuel Per Liter | 250 ISK (1.78 USD) | 20 NOK (1.80 USD) |
Fuel Per Gallon | 1,200 ISK (8.52 USD) | 90 NOK (8.10 USD) |
Average Toll Fees | 1,000 ISK 7.10 USD | 60 NOK 5.40 USD |
You would have to pay 1.16 times less for Vehicle purchase, daily operation and maintenance in Iceland compared to that of Norway.
Indicators | Iceland | Norway |
---|---|---|
Doctor Visit | 5,000 ISK (35.50 USD) | 250 NOK (22.50 USD) |
Specialist Visit | 10,000 ISK (71 USD) | 600 NOK (54 USD) |
Dentist Visit | 8,000 ISK (56.80 USD) | 400 NOK (36 USD) |
Eye Exam | 3,000 ISK (21.30 USD) | 300 NOK (27 USD) |
Mental Health Counseling | 8,000 ISK (56.80 USD) | 600 NOK (54 USD) |
Preventive Health Screening | 4,000 ISK (28.40 USD) | 300 NOK (27 USD) |
Physical Therapy | 6,000 ISK (42.60 USD) | 500 NOK (45 USD) |
Emergency Room Visit | 15,000 ISK (106.50 USD) | 1,500 NOK (135 USD) |
Hospital Stay Per Night | 25,000 ISK (177.50 USD) | 1,000 NOK (90 USD) |
Vaccinations | 2,500 ISK (17.75 USD) | 200 NOK (18 USD) |
Prescription Medication | 1,500 ISK (10.65 USD) | 150 NOK (13.50 USD) |
Over the Counter Medication | 800 ISK (5.68 USD) | 80 NOK (7.20 USD) |
Health Insurance Premiums | 20,000 ISK (142 USD) | 2,000 NOK (180 USD) |
Health Insurance Deductibles | 5,000 ISK (35.50 USD) | 1,000 NOK (90 USD) |
If you lived in Iceland, instead of Norway, you would have to pay 1.01 times more for Health and Medical Treatment.
Indicators | Iceland | Norway |
---|---|---|
Cosmetic Procedures | 30,000 ISK (213 USD) | 5,000 NOK (450 USD) |
Spa Treatment | 10,000 ISK (71 USD) | 1,500 NOK (135 USD) |
Manicure Pedicure Cost | 3,000 ISK (21.30 USD) | 500 NOK (45 USD) |
Optical Glasses Cost | 10,000 ISK (71 USD) | 1,500 NOK (135 USD) |
Contact Lenses Cost | 5,000 ISK (35.50 USD) | 1,000 NOK (90 USD) |
Haircuts | 2,000 ISK (14.20 USD) | 400 NOK (36 USD) |
Hair Coloring | 6,000 ISK (42.60 USD) | 1,000 NOK (90 USD) |
Shampoo Price | 500 ISK (3.55 USD) | 50 NOK (4.50 USD) |
Toothpaste Price | 200 ISK (1.42 USD) | 30 NOK (2.70 USD) |
If you lived in Iceland, instead of Norway, you would have to pay 2.09 times less for Personal Care Items and Treatment.
Indicators | Iceland | Norway |
---|---|---|
Pair of Nike Running Shoes | 15,000 ISK (106.50 USD) | 1,500 NOK (135 USD) |
Men's Shirt | 5,000 ISK (35.50 USD) | 600 NOK (54 USD) |
Women's Dress | 10,000 ISK (71 USD) | 1,200 NOK (108 USD) |
Summer Dress | 5,000 ISK (35.50 USD) | 800 NOK (72 USD) |
Men's Suit | 40,000 ISK (284 USD) | 5,000 NOK (450 USD) |
Men's Jeans | 7,000 ISK (49.70 USD) | 800 NOK (72 USD) |
Women's Jeans | 6,000 ISK (42.60 USD) | 800 NOK (72 USD) |
Men's Formal Shoes | 7,000 ISK (49.70 USD) | 1,500 NOK (135 USD) |
Women's Formal Shoes | 7,000 ISK (49.70 USD) | 1,500 NOK (135 USD) |
Men's Casual Shoes | 5,000 ISK (35.50 USD) | 1,000 NOK (90 USD) |
Women's Casual Shoes | 4,000 ISK (28.40 USD) | 1,000 NOK (90 USD) |
Underwear For Men | 1,000 ISK (7.10 USD) | 200 NOK (18 USD) |
Underwear For Women | 1,200 ISK (8.52 USD) | 250 NOK (22.50 USD) |
Socks For Men | 300 ISK (2.13 USD) | 100 NOK (9 USD) |
Socks For Women | 400 ISK (2.84 USD) | 100 NOK (9 USD) |
Wintercoat for Adults | 8,000 ISK (56.80 USD) | 2,000 NOK (180 USD) |
Sportswear | 6,000 ISK (42.60 USD) | 1,000 NOK (90 USD) |
If you lived in Iceland, instead of Norway, you would have to pay 1.92 times less for Clothing and Footwear for Adults.
Indicators | Iceland | Norway |
---|---|---|
Children's Jeans | 3,500 ISK (24.85 USD) | 500 NOK (45 USD) |
Children's Normal Sneakers | 4,000 ISK (28.40 USD) | 600 NOK (54 USD) |
Children's Winter Coat | 6,000 ISK (42.60 USD) | 800 NOK (72 USD) |
Daycare for Infant | 25,000 ISK (177.50 USD) | 6,000 NOK (540 USD) |
Daycare for Toddler | 20,000 ISK (142 USD) | 5,000 NOK (450 USD) |
Childcare for Sick Days | 1,500 ISK (10.65 USD) | 2,000 NOK (180 USD) |
Early Childhood Education Programs | 6,000 ISK (42.60 USD) | 6,000 NOK (540 USD) |
Extra Curricular Activities | 3,000 ISK (21.30 USD) | 3,000 NOK (270 USD) |
Summer Camp for Kids | 8,000 ISK (56.80 USD) | 5,000 NOK (450 USD) |
If you lived in Iceland, instead of Norway, you would have to pay 4.76 times less for Childcare and kids clothing.
Indicators | Iceland | Norway |
---|---|---|
PreSchool Fees | 30,000 ISK (213 USD) | 8,000 NOK (720 USD) |
Primary School Fees | 40,000 ISK (284 USD) | 15,000 NOK (1,350 USD) |
Secondary School Fees | 60,000 ISK (426 USD) | 20,000 NOK (1,800 USD) |
Private School Fees | 80,000 ISK (568 USD) | 30,000 NOK (2,700 USD) |
University Tuition Fees | 150,000 ISK (1,065 USD) | 100,000 NOK (9,000 USD) |
University Private Tuition Fees | 200,000 ISK (1,420 USD) | 120,000 NOK (10,800 USD) |
After School Activities | 5,000 ISK (35.50 USD) | 2,000 NOK (180 USD) |
Special Education Services | 7,000 ISK (49.70 USD) | 10,000 NOK (900 USD) |
Tutoring | 5,000 ISK (35.50 USD) | 1,500 NOK (135 USD) |
Textbooks Cost | 4,000 ISK (28.40 USD) | 2,000 NOK (180 USD) |
School Supplies | 2,000 ISK (14.20 USD) | 1,000 NOK (90 USD) |
If you lived in Iceland, instead of Norway, you would have to pay 6.73 times less for school and education.
Indicators | Iceland | Norway |
---|---|---|
Movie Ticket (Single) | 1,000 ISK (7.10 USD) | 150 NOK (13.50 USD) |
Theater Ticket (Single) | 2,000 ISK (14.20 USD) | 200 NOK (18 USD) |
Concert Ticket (Single) | 2,500 ISK (17.75 USD) | 300 NOK (27 USD) |
Sports Event Ticket (Single) | 1,500 ISK (10.65 USD) | 250 NOK (22.50 USD) |
Gym Membership | 6,000 ISK (42.60 USD) | 800 NOK (72 USD) |
Swimming Pool Access | 5,000 ISK (35.50 USD) | 400 NOK (36 USD) |
Museum Entry Ticket | 1,000 ISK (7.10 USD) | 150 NOK (13.50 USD) |
Zoo Entry Ticket | 1,500 ISK (10.65 USD) | 200 NOK (18 USD) |
Amusement Park Entry Ticket | 2,000 ISK (14.20 USD) | 300 NOK (27 USD) |
Bowling | 1,000 ISK (7.10 USD) | 200 NOK (18 USD) |
Mini Golf | 1,500 ISK (10.65 USD) | 250 NOK (22.50 USD) |
Video Games | 5,000 ISK (35.50 USD) | 600 NOK (54 USD) |
Streaming Services | 1,000 ISK (7.10 USD) | 150 NOK (13.50 USD) |
Outdoor Equipment Rental | 1,000 ISK (7.10 USD) | 200 NOK (18 USD) |
Theme Park Annual Pass | 50,000 ISK (355 USD) | 5,000 NOK (450 USD) |
If you lived in Iceland, instead of Norway, you would have to pay 1.41 times less for entertainment, recreation and fun activities.
Indicators | Iceland | Norway |
---|---|---|
Language Classes | 5,000 ISK (35.50 USD) | 8,000 NOK (720 USD) |
Parenting Classes | 5,000 ISK (35.50 USD) | 6,000 NOK (540 USD) |
Art Classes | 3,000 ISK (21.30 USD) | 600 NOK (54 USD) |
Fitness Classes | 6,000 ISK (42.60 USD) | 400 NOK (36 USD) |
Music Lessons | 4,000 ISK (28.40 USD) | 800 NOK (72 USD) |
Dance Lessons | 4,000 ISK (28.40 USD) | 800 NOK (72 USD) |
Reading Materials for Classes | 1,000 ISK (7.10 USD) | 200 NOK (18 USD) |
Educational Software | 3,000 ISK (21.30 USD) | 5,000 NOK (450 USD) |
If you lived in Iceland, instead of Norway, you would have to pay 8.91 times less for Private Classes.
Indicators | Iceland | Norway |
---|---|---|
Average Gross Monthly Salary | 450,000 ISK (3,195 USD) | 50,000 NOK (4,500 USD) |
Average Net Monthly Salary | 350,000 ISK (2,485 USD) | 35,000 NOK (3,150 USD) |
Minimum Wages | 6,666.67 ISK per hour (47.33 USD) | 666.67 NOK per hour (60 USD) |
Average Bonus | 40,000 ISK (284 USD) | 5,000 NOK (450 USD) |
Income Tax Rate | 0 to 24 % | 0 to 25 % |
Social Security Contributions | 7 % | 8 % |
Pension Contributions | 8 % | 8 % |
Cost of Living Index | 12 | 80 |
Median Household Income | 400,000 ISK (2,840 USD) | 70,000 NOK (6,300 USD) |
If you lived in Iceland, you would earn 1.63 times less salary as compared to Norway.
Indicators | Iceland | Norway |
---|---|---|
Legal Consultation Per Hour Rate | 10,000 ISK (71 USD) | 1,000 NOK (90 USD) |
Accounting Services Per Hour Rate | 7,000 ISK (49.70 USD) | 1,200 NOK (108 USD) |
IT Support Services Per Hour Rate | 5,000 ISK (35.50 USD) | 1,200 NOK (108 USD) |
Technician Services Per Hour Rate | 4,000 ISK (28.40 USD) | 1,000 NOK (90 USD) |
Professional Services cost 2.15 times less in Iceland, as compared to Norway.
We hope you enjoyed the detailed guide on the cost of living comparsion between Iceland and Norway.
For more side-by-side comparsion between Countries, States and Cities, you can use the search box above or click the links below.
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