Iceland vs Malawi - Cost of Living Comparison

Updated:

Livingcost

Iceland Malawi
🚶 Cost of living one person
$2685
$579
👨‍👩‍👧‍👦 Cost of living Family
$5605
$1462
🏠 One person rent
$1593
$216
🏘️ Family rent
$2495
$368
🍽️ Food expenses
$794
$218
🚐 Transport expenses
$85.7
$95.2
💳 Monthly salary after tax
$3865
$458
💸 GDP per capita
$78811
$673
😃 Human freedom index
8.73
6.83
❤️ Life expectancy
82.2
62.9
👮 Corruption perceptions index
72
34
🌐 English speaking %
98%
3.9%
🎓 Higher education
81
39
😀 Quality of life
92
24
🏙️ Population
364K
18.6M

The average cost of living in Iceland ($2685) is 364% more expensive than in Malawi ($579). Iceland ranked 5th vs 167th for Malawi 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 0.8 months in Malawi. Ranked 11th and 160th best countries to live in the world.

Salary adjustment calculator
the estimated difference in money purchasing power

Cost of living in Iceland vs Malawi infographic

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Prices in Iceland vs Malawi

We calculate prices for Iceland and Malawi as a population-weighted mean of 5 and 9 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 Malawi
Eating Out
🍱 Lunch Menu
$22.1
$3.84
🥂 Dinner in a Restaurant, for 2
$115
$20.1
🥪 Fast food meal, equiv. McDonald's
$18.3
$5.62
🍻 Beer in a Pub, 0.5 L or 16 fl oz
$10.4
$0.97
 Cappuccino
$5.1
$2.23
🥤 Pepsi / Coke, 0.5 L or 16.9 fl oz
$2.95
$0.89
Rent & Utilities
🏙️ 1 bedroom apartment in Downtown, 40 m2 or 430 ft2
$1639
$265
🏡 Cheap 1 bedroom apartment, 40 m2 or 430 ft2
$1432
$118
🏙️ 3 bedroom apartment in Downtown, 80 m2 or 860 ft2
$2535
$420
🏡 Cheap 3 bedroom apartment, 80 m2 or 860 ft2
$2304
$248
🔌 Utility Bill one person, electricity, heating, water, etc.
$46.2
$32.2
🔌 Utility Bill for a Family, electricity, heating, water, etc.
$71.2
$49.7
🌐 Internet plan, 50 Mbps+ 1 month unlimited
$73.9
$36.1
🏦 Mortgage Interest Rate for 20 Years
7.22%
12.64%
🏙️ Apartment price to Buy in city Center, 1 m2 or 10 ft2
$5677
$10568
🏡 House price to Buy in Suburbs, 1 m2 or 10 ft2
$4632
$487
Transportation
🚌 Local transport ticket
$4.47
$1.13
🎟️ Monthly ticket local transport
$74.2
$13.5
🚕 Taxi Ride, 8 km or 5 mi
$24.9
$15
 Gas / Petrol, 1 L or 0.26 gal
$2.28
$1.32
Groceries
🥛 Milk, 1 L or 1 qt
$1.67
$1.01
🍞 Bread, 0.5 kg or 1.1 lb
$3.6
$0.98
🍚 Rice, 1 kg or 2.2 lb
$3.11
$1.28
🥚 Eggs, x12
$5.77
$1.86
🧀 Cheese, 1 kg or 2.2 lb
$15.4
$8.1
🐔 Chicken Breast, 1 kg or 2.2 lb
$19.7
$4
🥩 Round Steak, 1 kg or 2.2 lb
$33.9
$5.79
🍏 Apples, 1 kg or 2.2 lb
$2.88
$2.03
🍌 Banana, 1 kg or 2.2 lb
$2.31
$1.9
🍊 Oranges, 1 kg or 2.2 lb
$2.69
$2.58
🍅 Tomato, 1 kg or 2.2 lb
$4.65
$1
🥔 Potato, 1 kg or 2.2 lb
$2.99
$1.27
🧅 Onion, 1 kg or 2.2 lb
$1.84
$1.32
🌊 Water, 1 L or 1 qt
$1.28
$0.43
🍹 Coca-Cola / Pepsi, 2 L or 67.6 fl oz
$2.74
$0.92
🍾 Wine (mid-priced), 750 mL bottle
$21.3
$10.2
🍺 Beer, 0.5 L or 16 fl oz
$3.27
$0.96
🚬 Cigarette pack
$12
$1.21
💊 Cold medicince, 1 week
$11.6
$1.77
🧴 Hair Shampoo
$5.35
$2.53
🧻 Toilet paper, 4 rolls
$4.7
$0.74
👄 Toothpaste, 1 tube
$3.32
$0.69
Other
🏋️ Gym Membership, 1 month
$67.9
$39
🎫 Cinema Ticket, 1 person
$14.9
$2.62
👩‍⚕️ Doctor's visit
$84.3
$17
💇 Haircut, simple
$47.3
$3.24
👖 Brand Jeans
$113
$30
👟 Brand Sneakers
$152
$56
👶 Daycare or Preschool, 1 month
$257
$366
🏫 International Primary School, 1 year
$6163
$1375

Cost of living in other countries

Cost of living

More countries to compare

Cost of Living in Popular cities

In Iceland

City Cost of living Population
Reykjavik
$2915
140K
Kopavogur
$2371
39.8K
Hafnarfjorur
$2602
30.6K
Akureyri
$2300
19.9K
Keflavik
$2091
15.9K

In Malawi

City Cost of living Population
Blantyre
$591
1.9M
Mzimba
$574
936K
Lilongwe
$582
989K
Zomba
$498
101K
Mzuzu
$534
150K
Mangochi
$516
53.5K
Mulanje
$500
14.8K
Ntcheu
$515
14.6K
Monkey Bay
$526
14.6K