Published: Monday, 21th October 2024
The cost of living in United Kingdom is 1.97 times more expensive as compared to Iceland.
On this page, you will find side-by-side cost comparison between United Kingdom and Iceland. 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 United Kingdom and Iceland.
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 Indicators  | United Kingdom  | Iceland  |
|---|---|---|
1 BHK Apartment in City Center  | 1,800 GBP (2,286 USD) | 200,000 ISK (1,420 USD) |
2 BHK Apartment in City Center  | 2,800 GBP (3,556 USD) | 300,000 ISK (2,130 USD) |
3 BHK Apartment in City Center  | 3,800 GBP (4,826 USD) | 400,000 ISK (2,840 USD) |
1 BHK Apartment outside City Center  | 1,200 GBP (1,524 USD) | 150,000 ISK (1,065 USD) |
2 BHK Apartment outside City Center  | 1,800 GBP (2,286 USD) | 200,000 ISK (1,420 USD) |
3 BHK Apartment outside City Center  | 2,500 GBP (3,175 USD) | 300,000 ISK (2,130 USD) |
Mortgage Rates Per Month  | 3 % | 4 % |
Realtor Commission  | 1.5 % | 2 % |
Property Taxes  | 0.5 to 2.0 % | 0.2 to 1.65 % |
The average housing cost in United Kingdom is 1.63 times more expensive than Iceland.
Indicators | United Kingdom | Iceland |
|---|---|---|
Basic Home Furnishing  | 2,000 GBP (2,540 USD) | 300,000 ISK (2,130 USD) |
Electricity Cost Per Month  | 120 GBP (152.40 USD) | 20,000 ISK (142 USD) |
Heating Cost Per Month  | 100 GBP (127 USD) | 25,000 ISK (177.50 USD) |
Cooling Cost Per Month  | 50 GBP (63.50 USD) | 10,000 ISK (71 USD) |
Water Supply Cost Per Month  | 40 GBP (50.80 USD) | 5,000 ISK (35.50 USD) |
If you lived in United Kingdom, instead of Iceland, you would have to pay 14.78% more for Utilities.
The basic home furnishing in United Kingdom costs 1.19 times more compared to Iceland.
Indicators | United Kingdom | Iceland |
|---|---|---|
Standard Wifi Cost Per Month  | 30 GBP (38.10 USD) | 10,000 ISK (71 USD) |
Mobile Phone Basic Plan Cost Per Month  | 20 GBP (25.40 USD) | 5,000 ISK (35.50 USD) |
Landline Basic Plan Cost Per Month  | 20 GBP (25.40 USD) | 3,000 ISK (21.30 USD) |
Cable TV Basic Plan Cost Per Month  | 50 GBP (63.50 USD) | 8,000 ISK (56.80 USD) |
The internet and communication costs 17.44% less in United Kingdom compared to Iceland.
Indicators | United Kingdom | Iceland |
|---|---|---|
Long Grain Rice (1 KG)  | 2.50 GBP (3.17 USD) | 500 ISK (3.55 USD) |
Milk (1 Liter)  | 1.20 GBP (1.52 USD) | 250 ISK (1.78 USD) |
Water (1 Liter)  | 0.80 GBP (1.02 USD) | 50 ISK (0.36 USD) |
Bread (500 gm)  | 1 GBP (1.27 USD) | 150 ISK (1.07 USD) |
Eggs (1 Dozen)  | 2.50 GBP (3.17 USD) | 500 ISK (3.55 USD) |
Cheese (1 KG)  | 5 GBP (6.35 USD) | 1,200 ISK (8.52 USD) |
Chicken Breast (1 KG)  | 8 GBP (10.16 USD) | 1,000 ISK (7.10 USD) |
In United Kingdom, the cost of 1 Liter Water and 1 Liter Milk is 1.19 times more expensive than the cost in Iceland.
If you lived in United Kingdom, instead of Iceland, you would have to pay 2.91% more for Groceries.
Indicators | United Kingdom | Iceland |
|---|---|---|
Apples (1 KG)  | 2 GBP (2.54 USD) | 800 ISK (5.68 USD) |
Bananas (1 KG)  | 1.20 GBP (1.52 USD) | 600 ISK (4.26 USD) |
Oranges (1 KG)  | 2 GBP (2.54 USD) | 700 ISK (4.97 USD) |
Tomatoes (1 KG)  | 2 GBP (2.54 USD) | 500 ISK (3.55 USD) |
Potatoes (1 KG)  | 1 GBP (1.27 USD) | 400 ISK (2.84 USD) |
Lemons (1 KG)  | 2 GBP (2.54 USD) | 700 ISK (4.97 USD) |
Onions (1 KG)  | 1.50 GBP (1.91 USD) | 600 ISK (4.26 USD) |
Lentils (1 KG)  | 2.50 GBP (3.17 USD) | 600 ISK (4.26 USD) |
If you lived in United Kingdom, instead of Iceland, you would have to pay 1.93 times less for Fruits and Vegetables.
Indicators | United Kingdom | Iceland |
|---|---|---|
Meal at a Resonable Restaurant  | 15 GBP (19.05 USD) | 3,500 ISK (24.85 USD) |
Three-Course Meal for Two  | 50 GBP (63.50 USD) | 8,000 ISK (56.80 USD) |
Fast Food Combo Meal  | 6 GBP (7.62 USD) | 1,500 ISK (10.65 USD) |
Normal Coffee  | 3 GBP (3.81 USD) | 500 ISK (3.55 USD) |
Soft Drink  | 1.50 GBP (1.91 USD) | 300 ISK (2.13 USD) |
Pizza for One  | 10 GBP (12.70 USD) | 2,500 ISK (17.75 USD) |
Take-Out Delivery Meal  | 15 GBP (19.05 USD) | 3,000 ISK (21.30 USD) |
Cigarette Pack of 20  | 12 GBP (15.24 USD) | 1,500 ISK (10.65 USD) |
Dining-Out costs 3.25% less in United Kingdom compared to Iceland.
Indicators | United Kingdom | Iceland |
|---|---|---|
Wine Mid-Range Bottle  | 8 GBP (10.16 USD) | 2,000 ISK (14.20 USD) |
Glass of Wine  | 5 GBP (6.35 USD) | 1,200 ISK (8.52 USD) |
Domestic Beer Half Liter  | 2 GBP (2.54 USD) | 600 ISK (4.26 USD) |
Imported Beer Half Liter  | 3 GBP (3.81 USD) | 800 ISK (5.68 USD) |
Domestic Alcohol 1 Liter  | 15 GBP (19.05 USD) | 3,000 ISK (21.30 USD) |
Branded Alcohol 1 Liter  | 25 GBP (31.75 USD) | 4,000 ISK (28.40 USD) |
If you lived in United Kingdom, instead of Iceland, you would have to pay 1.12 times less for usual hard drinks.
Indicators | United Kingdom | Iceland |
|---|---|---|
Monthly Public Transportation Pass  | 140 GBP (177.80 USD) | 15,000 ISK (106.50 USD) |
Single Public Transportation Ticket  | 2.50 GBP (3.17 USD) | 400 ISK (2.84 USD) |
Single Train Ticket  | 50 GBP (63.50 USD) | Yet to Update () |
Domestic Airplane Ticket  | 150 GBP (190.50 USD) | 30,000 ISK (213 USD) |
Taxi Start Fare  | 3 GBP (3.81 USD) | 800 ISK (5.68 USD) |
Taxi Rate Per Kilometer  | 2 GBP (2.54 USD) | 200 ISK (1.42 USD) |
Car Rental Per Day  | 40 GBP (50.80 USD) | 10,000 ISK (71 USD) |
Parking Fees in City Center Per Hour  | 3 GBP (3.81 USD) | 500 ISK (3.55 USD) |
Parking Fees outside City Center Per Hour  | 1.50 GBP (1.91 USD) | 300 ISK (2.13 USD) |
If you lived in United Kingdom, instead of Iceland, you would have to pay 1.23 times more for transportation.
Indicators | United Kingdom | Iceland |
|---|---|---|
Reasonable Vehicle Purchase Cost  | 20,000 GBP (25,400 USD) | 4,000,000 ISK (28,400 USD) |
Vehicle Registration Cost  | 200 GBP (254 USD) | 15,000 ISK (106.50 USD) |
Driving License Fees  | 50 GBP (63.50 USD) | 5,000 ISK (35.50 USD) |
Car Insurance Cost  | 600 GBP (762 USD) | 40,000 ISK (284 USD) |
Car Maintenance Cost  | 150 GBP (190.50 USD) | 15,000 ISK (106.50 USD) |
Car Loan Interest Rates  | 5 % | 5 % |
Fuel Per Liter  | 1.40 GBP (1.78 USD) | 250 ISK (1.78 USD) |
Fuel Per Gallon  | 6.50 GBP (8.26 USD) | 1,200 ISK (8.52 USD) |
Average Toll Fees  | Yet to Update | 1,000 ISK 7.10 USD |
You would have to pay 1.09 times less for Vehicle purchase, daily operation and maintenance in United Kingdom compared to that of Iceland.
Indicators | United Kingdom | Iceland |
|---|---|---|
Doctor Visit  | 70 GBP (88.90 USD) | 5,000 ISK (35.50 USD) |
Specialist Visit  | 150 GBP (190.50 USD) | 10,000 ISK (71 USD) |
Dentist Visit  | 80 GBP (101.60 USD) | 8,000 ISK (56.80 USD) |
Eye Exam  | 50 GBP (63.50 USD) | 3,000 ISK (21.30 USD) |
Mental Health Counseling  | 70 GBP (88.90 USD) | 8,000 ISK (56.80 USD) |
Preventive Health Screening  | 100 GBP (127 USD) | 4,000 ISK (28.40 USD) |
Physical Therapy  | 50 GBP (63.50 USD) | 6,000 ISK (42.60 USD) |
Emergency Room Visit  | 200 GBP (254 USD) | 15,000 ISK (106.50 USD) |
Hospital Stay Per Night  | 150 GBP (190.50 USD) | 25,000 ISK (177.50 USD) |
Vaccinations  | 30 GBP (38.10 USD) | 2,500 ISK (17.75 USD) |
Prescription Medication  | 15 GBP (19.05 USD) | 1,500 ISK (10.65 USD) |
Over the Counter Medication  | 5 GBP (6.35 USD) | 800 ISK (5.68 USD) |
Health Insurance Premiums  | 200 GBP (254 USD) | 20,000 ISK (142 USD) |
Health Insurance Deductibles  | 500 GBP (635 USD) | 5,000 ISK (35.50 USD) |
If you lived in United Kingdom, instead of Iceland, you would have to pay 2.62 times more for Health and Medical Treatment.
Indicators | United Kingdom | Iceland |
|---|---|---|
Cosmetic Procedures  | 200 GBP (254 USD) | 30,000 ISK (213 USD) |
Spa Treatment  | 100 GBP (127 USD) | 10,000 ISK (71 USD) |
Manicure Pedicure Cost  | 30 GBP (38.10 USD) | 3,000 ISK (21.30 USD) |
Optical Glasses Cost  | 100 GBP (127 USD) | 10,000 ISK (71 USD) |
Contact Lenses Cost  | 50 GBP (63.50 USD) | 5,000 ISK (35.50 USD) |
Haircuts  | 20 GBP (25.40 USD) | 2,000 ISK (14.20 USD) |
Hair Coloring  | 50 GBP (63.50 USD) | 6,000 ISK (42.60 USD) |
Shampoo Price  | 5 GBP (6.35 USD) | 500 ISK (3.55 USD) |
Toothpaste Price  | 2 GBP (2.54 USD) | 200 ISK (1.42 USD) |
If you lived in United Kingdom, instead of Iceland, you would have to pay 1.49 times more for Personal Care Items and Treatment.
Indicators | United Kingdom | Iceland |
|---|---|---|
Pair of Nike Running Shoes  | 80 GBP (101.60 USD) | 15,000 ISK (106.50 USD) |
Men's Shirt  | 30 GBP (38.10 USD) | 5,000 ISK (35.50 USD) |
Women's Dress  | 60 GBP (76.20 USD) | 10,000 ISK (71 USD) |
Summer Dress  | 40 GBP (50.80 USD) | 5,000 ISK (35.50 USD) |
Men's Suit  | 300 GBP (381 USD) | 40,000 ISK (284 USD) |
Men's Jeans  | 50 GBP (63.50 USD) | 7,000 ISK (49.70 USD) |
Women's Jeans  | 50 GBP (63.50 USD) | 6,000 ISK (42.60 USD) |
Men's Formal Shoes  | 80 GBP (101.60 USD) | 7,000 ISK (49.70 USD) |
Women's Formal Shoes  | 70 GBP (88.90 USD) | 7,000 ISK (49.70 USD) |
Men's Casual Shoes  | 60 GBP (76.20 USD) | 5,000 ISK (35.50 USD) |
Women's Casual Shoes  | 50 GBP (63.50 USD) | 4,000 ISK (28.40 USD) |
Underwear For Men  | 15 GBP (19.05 USD) | 1,000 ISK (7.10 USD) |
Underwear For Women  | 15 GBP (19.05 USD) | 1,200 ISK (8.52 USD) |
Socks For Men  | 5 GBP (6.35 USD) | 300 ISK (2.13 USD) |
Socks For Women  | 5 GBP (6.35 USD) | 400 ISK (2.84 USD) |
Wintercoat for Adults  | 80 GBP (101.60 USD) | 8,000 ISK (56.80 USD) |
Sportswear  | 50 GBP (63.50 USD) | 6,000 ISK (42.60 USD) |
If you lived in United Kingdom, instead of Iceland, you would have to pay 1.45 times more for Clothing and Footwear for Adults.
Indicators | United Kingdom | Iceland |
|---|---|---|
Children's Jeans  | 25 GBP (31.75 USD) | 3,500 ISK (24.85 USD) |
Children's Normal Sneakers  | 30 GBP (38.10 USD) | 4,000 ISK (28.40 USD) |
Children's Winter Coat  | 50 GBP (63.50 USD) | 6,000 ISK (42.60 USD) |
Daycare for Infant  | 1,200 GBP (1,524 USD) | 25,000 ISK (177.50 USD) |
Daycare for Toddler  | 1,000 GBP (1,270 USD) | 20,000 ISK (142 USD) |
Childcare for Sick Days  | 30 GBP (38.10 USD) | 1,500 ISK (10.65 USD) |
Early Childhood Education Programs  | 400 GBP (508 USD) | 6,000 ISK (42.60 USD) |
Extra Curricular Activities  | 50 GBP (63.50 USD) | 3,000 ISK (21.30 USD) |
Summer Camp for Kids  | 200 GBP (254 USD) | 8,000 ISK (56.80 USD) |
If you lived in United Kingdom, instead of Iceland, you would have to pay 6.93 times more for Childcare and kids clothing.
Indicators | United Kingdom | Iceland |
|---|---|---|
PreSchool Fees  | 1,500 GBP (1,905 USD) | 30,000 ISK (213 USD) |
Primary School Fees  | 3,000 GBP (3,810 USD) | 40,000 ISK (284 USD) |
Secondary School Fees  | 4,500 GBP (5,715 USD) | 60,000 ISK (426 USD) |
Private School Fees  | 6,000 GBP (7,620 USD) | 80,000 ISK (568 USD) |
University Tuition Fees  | 9,000 GBP (11,430 USD) | 150,000 ISK (1,065 USD) |
University Private Tuition Fees  | 15,000 GBP (19,050 USD) | 200,000 ISK (1,420 USD) |
After School Activities  | 100 GBP (127 USD) | 5,000 ISK (35.50 USD) |
Special Education Services  | 100 GBP (127 USD) | 7,000 ISK (49.70 USD) |
Tutoring  | 40 GBP (50.80 USD) | 5,000 ISK (35.50 USD) |
Textbooks Cost  | 30 GBP (38.10 USD) | 4,000 ISK (28.40 USD) |
School Supplies  | 20 GBP (25.40 USD) | 2,000 ISK (14.20 USD) |
If you lived in United Kingdom, instead of Iceland, you would have to pay 12.05 times more for school and education.
Indicators | United Kingdom | Iceland |
|---|---|---|
Movie Ticket (Single)  | 10 GBP (12.70 USD) | 1,000 ISK (7.10 USD) |
Theater Ticket (Single)  | 20 GBP (25.40 USD) | 2,000 ISK (14.20 USD) |
Concert Ticket (Single)  | 30 GBP (38.10 USD) | 2,500 ISK (17.75 USD) |
Sports Event Ticket (Single)  | 25 GBP (31.75 USD) | 1,500 ISK (10.65 USD) |
Gym Membership  | 40 GBP (50.80 USD) | 6,000 ISK (42.60 USD) |
Swimming Pool Access  | 30 GBP (38.10 USD) | 5,000 ISK (35.50 USD) |
Museum Entry Ticket  | 10 GBP (12.70 USD) | 1,000 ISK (7.10 USD) |
Zoo Entry Ticket  | 15 GBP (19.05 USD) | 1,500 ISK (10.65 USD) |
Amusement Park Entry Ticket  | 30 GBP (38.10 USD) | 2,000 ISK (14.20 USD) |
Bowling  | 15 GBP (19.05 USD) | 1,000 ISK (7.10 USD) |
Mini Golf  | 10 GBP (12.70 USD) | 1,500 ISK (10.65 USD) |
Video Games  | 50 GBP (63.50 USD) | 5,000 ISK (35.50 USD) |
Streaming Services  | 10 GBP (12.70 USD) | 1,000 ISK (7.10 USD) |
Outdoor Equipment Rental  | 20 GBP (25.40 USD) | 1,000 ISK (7.10 USD) |
Theme Park Annual Pass  | 300 GBP (381 USD) | 50,000 ISK (355 USD) |
If you lived in United Kingdom, instead of Iceland, you would have to pay 1.34 times more for entertainment, recreation and fun activities.
Indicators | United Kingdom | Iceland |
|---|---|---|
Language Classes  | 30 GBP (38.10 USD) | 5,000 ISK (35.50 USD) |
Parenting Classes  | 50 GBP (63.50 USD) | 5,000 ISK (35.50 USD) |
Art Classes  | 25 GBP (31.75 USD) | 3,000 ISK (21.30 USD) |
Fitness Classes  | 15 GBP (19.05 USD) | 6,000 ISK (42.60 USD) |
Music Lessons  | 40 GBP (50.80 USD) | 4,000 ISK (28.40 USD) |
Dance Lessons  | 30 GBP (38.10 USD) | 4,000 ISK (28.40 USD) |
Reading Materials for Classes  | 5 GBP (6.35 USD) | 1,000 ISK (7.10 USD) |
Educational Software  | 20 GBP (25.40 USD) | 3,000 ISK (21.30 USD) |
If you lived in United Kingdom, instead of Iceland, you would have to pay 1.24 times more for Private Classes.
Indicators | United Kingdom | Iceland |
|---|---|---|
Average Gross Monthly Salary  | 3,000 GBP (3,810 USD) | 450,000 ISK (3,195 USD) |
Average Net Monthly Salary  | 2,400 GBP (3,048 USD) | 350,000 ISK (2,485 USD) |
Minimum Wages  | 53.33 GBP per hour (67.73 USD) | 6,666.67 ISK per hour (47.33 USD) |
Average Bonus  | 500 GBP (635 USD) | 40,000 ISK (284 USD) |
Income Tax Rate  | 0 to 20 % | 0 to 24 % |
Social Security Contributions  | 12 % | 7 % |
Pension Contributions  | 10 % | 8 % |
Cost of Living Index  | 75 | 12 |
Median Household Income  | 2,800 GBP (3,556 USD) | 400,000 ISK (2,840 USD) |
If you lived in United Kingdom, you would earn 1.26 times more salary as compared to Iceland.
Indicators | United Kingdom | Iceland |
|---|---|---|
Legal Consultation Per Hour Rate  | 200 GBP (254 USD) | 10,000 ISK (71 USD) |
Accounting Services Per Hour Rate  | 150 GBP (190.50 USD) | 7,000 ISK (49.70 USD) |
IT Support Services Per Hour Rate  | 100 GBP (127 USD) | 5,000 ISK (35.50 USD) |
Technician Services Per Hour Rate  | 80 GBP (101.60 USD) | 4,000 ISK (28.40 USD) |
Professional Services cost 3.65 times more in United Kingdom, as compared to Iceland.
We hope you enjoyed the detailed guide on the cost of living comparsion between United Kingdom and Iceland.
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