Iceland vs Liberia - Cost of Living Comparison

Updated: March 01, 2024

	Iceland	Liberia
🚶 Cost of living one person	$2518	$499
👨‍👩‍👧‍👦 Cost of living Family	$5339	$1236
🏠 One person rent	$1478	$213
🏘️ Family rent	$2369	$405
🍽️ Food expenses	$761	$195
🚐 Transport expenses	$83.9	$44
💳 Monthly salary after tax	$3501	$356
💸 GDP per capita	$73467	$755
😃 Human freedom index	8.73	6.39
❤️ Life expectancy	83.1	60.7
👮 Corruption perceptions index	72	25
🌐 English speaking %	98%	82.7%
🎓 Higher education	81	27
😀 Quality of life	92	28
🏙️ Population	364K	5.21M

The average cost of living in Iceland ($2518) is 405% more expensive than in Liberia ($499). Iceland ranked 5th vs 178th for Liberia in the list of the most expensive countries in the world.

The average after-tax salary is enough to cover living expenses for 1.4 months in Iceland compared to 0.7 months in Liberia. Ranked 10th and 154th best countries to live in the world.

Salary adjustment calculator
the estimated difference in money purchasing power

Cost of living in Iceland vs Liberia infographic

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<img src="https://livingcost.org/assets/photo/cost/iceland/liberia.jpg" alt="Cost of living in Iceland vs Liberia infographic" style="max-width: 100%; height: auto;"><p>Source: <a href="https://livingcost.org/cost/iceland/liberia" target="_blank">Iceland vs Liberia - Cost of Living Comparison</a></p>

Prices in Iceland vs Liberia

We calculate prices for Iceland and Liberia as a population-weighted mean of 5 and 5 cities, respectively. Since large cities tend to have a higher cost of living, it's better to visit specific city pages below for more relevant information.

	Iceland	Liberia
Eating Out
🍱 Lunch Menu	$20.7	$2.87
🥂 Dinner in a Restaurant, for 2	$114	$18.6
🥪 Fast food meal, equiv. McDonald's	$16.8	$4.25
🍻 Beer in a Pub, 0.5 L or 16 fl oz	$10.2	$1.76
☕ Cappuccino	$4.88	$1.72
🥤 Pepsi / Coke, 0.5 L or 16.9 fl oz	$2.72	$0.47
Rent & Utilities
🏙️ 1 bedroom apartment in Downtown, 40 m2 or 430 ft2	$1510	$209
🏡 Cheap 1 bedroom apartment, 40 m2 or 430 ft2	$1318	$131
🏙️ 3 bedroom apartment in Downtown, 80 m2 or 860 ft2	$2409	$457
🏡 Cheap 3 bedroom apartment, 80 m2 or 860 ft2	$2171	$286
🔌 Utility Bill one person, electricity, heating, water, etc.	$53.6	$37
🔌 Utility Bill for a Family, electricity, heating, water, etc.	$82.3	$56.1
🌐 Internet plan, 50 Mbps+ 1 month unlimited	$68.4	$28.6
🏦 Mortgage Interest Rate for 20 Years	6.82%	10.17%
🏙️ Apartment price to Buy in city Center, 1 m2 or 10 ft2	$5442	$1446
🏡 House price to Buy in Suburbs, 1 m2 or 10 ft2	$4321	$788
Transportation
🚌 Local transport ticket	$4.09	$0.31
🎟️ Monthly ticket local transport	$66.7	$13
🚕 Taxi Ride, 8 km or 5 mi	$26.1	$5.5
⛽ Gas / Petrol, 1 L or 0.26 gal	$2.25	$1.03
Groceries
🥛 Milk, 1 L or 1 qt	$1.62	$1.12
🍞 Bread, 0.5 kg or 1.1 lb	$3.64	$0.64
🍚 Rice, 1 kg or 2.2 lb	$3.19	$1
🥚 Eggs, x12	$5.89	$1.47
🧀 Cheese, 1 kg or 2.2 lb	$14.9	$6.6
🐔 Chicken Breast, 1 kg or 2.2 lb	$18.5	$4
🥩 Round Steak, 1 kg or 2.2 lb	$29.5	$5.88
🍏 Apples, 1 kg or 2.2 lb	$2.99	$2.25
🍌 Banana, 1 kg or 2.2 lb	$2.16	$1.13
🍊 Oranges, 1 kg or 2.2 lb	$2.74	$1.57
🍅 Tomato, 1 kg or 2.2 lb	$4.51	$0.94
🥔 Potato, 1 kg or 2.2 lb	$2.86	$0.83
🧅 Onion, 1 kg or 2.2 lb	$1.83	$0.93
🌊 Water, 1 L or 1 qt	$1.33	$0.32
🍹 Coca-Cola / Pepsi, 2 L or 67.6 fl oz	$2.53	$1.14
🍾 Wine (mid-priced), 750 mL bottle	$19.4	$7.33
🍺 Beer, 0.5 L or 16 fl oz	$3.03	$1.43
🚬 Cigarette pack	$11.7	$2.79
💊 Cold medicince, 1 week	$11.6	$3.43
🧴 Hair Shampoo	$5.23	$2.94
🧻 Toilet paper, 4 rolls	$4.66	$1.57
👄 Toothpaste, 1 tube	$3.24	$1.24
Other
🏋️ Gym Membership, 1 month	$62	$21
🎫 Cinema Ticket, 1 person	$14.4	$4.11
👩‍⚕️ Doctor's visit	$82.9	$13.4
💇 Haircut, simple	$37.3	$4.07
👖 Brand Jeans	$106	$25.6
👟 Brand Sneakers	$144	$56
👶 Daycare or Preschool, 1 month	$245	$81.2
🏫 International Primary School, 1 year	$6038	$2809