Cost #30/31 · Cost of living · Europe · Eurostat PLI 2024
🇮🇸 Cost of living in Iceland
Iceland runs pricier than most of the EU-27 across rent, groceries and transport - see where the gap is widest and how far local income actually stretches.
- Cost rank · cheapest = #1 of 31
- #30
Iceland's livability score
Livability score
9/100
Iceland, weighted across 7 of 8 tracked dimensions
A cost-and-income composite (price-level indices plus purchasing power), not an overall quality-of-life judgment, it does not weigh climate, safety, culture, or healthcare outcomes.
- Purchasing power N/A N/A
Median net income adjusted for local cost level
- Overall cost F 173
Eurostat overall price level (EU27=100)
- Rent F 164
Housing / rent price level (EU27=100)
- Groceries F 144
Food and non-alcoholic beverages (EU27=100)
- Healthcare F 234
Healthcare price level (EU27=100)
- Transport F 136
Transport price level (EU27=100)
- Utilities A- 64
Electricity / gas / water (EU27=100)
- Restaurants F 167
Restaurants and hotels (EU27=100)
Iceland: large 2024 Eurostat move
Overall cost index moved +4.6 vs the 2023 archive - among the larger European shifts this release.
- Housing & utilities index 154 164 2023 → 2024
Housing & utilities index rose from 154 to 164 between the 2023 and 2024 Eurostat releases.
- Utilities index 57 64 2023 → 2024
Utilities index rose from 57 to 64 between the 2023 and 2024 Eurostat releases.
- Overall cost index 168 173 2023 → 2024
Overall cost index rose from 168 to 173 between the 2023 and 2024 Eurostat releases.
- Healthcare index 229 234 2023 → 2024
Healthcare index rose from 229 to 234 between the 2023 and 2024 Eurostat releases.
- Groceries index 140 144 2023 → 2024
Groceries index rose from 140 to 144 between the 2023 and 2024 Eurostat releases.
Iceland in the 120+ cost band
On the EU-27 = 100 scale, Iceland's overall index (173) sits in the 120+ band with 9 other published countries. The Europe-wide band mix lives on the rankings hub, not repeated here.
Where Iceland's high price level concentrates
Bars + gauge for an above-EU overall index (173): which categories drive the premium, not a restated Europe lecture.
Iceland - price level by category (EU-27 = 100)
🇮🇸 Iceland vs EU-27 = 100
Gauge reads the same overall cost_index (173); the tick marks the EU average.
In Iceland, healthcare is the most expensive category and utilities the least.
Why Iceland reads expensive on Eurostat
Iceland's overall consumer price level is 73% above the EU-27 average. (How this index is built →)
Healthcare is the priciest category in Iceland, at index 234, ahead of utilities at index 64 relative to the EU basket.
Income data is not available for Iceland.
Eurostat PLI Basket · similar price levels and purchasing power
Two peer sets for Iceland: nearest overall price-level indices (EU-27 = 100) and nearest cost-adjusted incomes (median net income ÷ cost index). The cost band block above stays cohort-based; these neighborhoods vary by entity.
Similar overall cost index
Nearest countries by Eurostat price level (173 here, EU-27 = 100).
PLI neighbourhood · Iceland
What to do with this Iceland data
Use Iceland's cost-of-living index alongside its median income, price alone does not determine what your money buys.
- Run the numbers for Iceland in the calculator
- Compare Iceland vs Switzerland side by side
- See the full best-value ranking
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These are Eurostat comparative price-level averages for the whole country, not a personal budget. Regional and city-level costs can differ substantially from the national figure.
Frequently Asked Questions
Is Iceland expensive to live in?
Iceland's overall cost of living is 73% above the EU-27 average (index 173). Healthcare is the priciest category and utilities the cheapest.
What are housing & utilities costs in Iceland?
Iceland's housing & utilities price index is 164, above the EU norm.
How does income compare to costs in Iceland?
Income data is not available for Iceland.
PlainCostOfLiving is rendered directly from Eurostat comparative price levels and median equivalised net income, no number is typed in by an editor. See our editorial standards & corrections policy, the methodology behind these numbers, or report a data error. Data current as of 2026-08-20. Primary sources: Eurostat comparative price levels (prc_ppp_ind) and Eurostat median equivalised net income (ilc_di03).