Iceland vs Malawi - Cost of Living Comparison

Updated:

Livingcost

Iceland Malawi
🚶 Cost of living one person
$2518
$361
👨‍👩‍👧‍👦 Cost of living Family
$5339
$938
🏠 One person rent
$1478
$137
🏘️ Family rent
$2369
$262
🍽️ Food expenses
$761
$142
🚐 Transport expenses
$83.9
$49.8
💳 Monthly salary after tax
$3501
$304
💸 GDP per capita
$73467
$645
😃 Human freedom index
8.73
6.83
❤️ Life expectancy
83.1
62.9
👮 Corruption perceptions index
72
34
🌐 English speaking %
98%
3.9%
🎓 Higher education
81
39
😀 Quality of life
92
26
🏙️ Population
364K
18.6M

The average cost of living in Iceland ($2518) is 598% more expensive than in Malawi ($361). Iceland ranked 5th vs 195th 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 10th and 158th 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
$20.7
$2.46
🥂 Dinner in a Restaurant, for 2
$114
$11.9
🥪 Fast food meal, equiv. McDonald's
$16.8
$3.35
🍻 Beer in a Pub, 0.5 L or 16 fl oz
$10.2
$0.66
 Cappuccino
$4.88
$1.39
🥤 Pepsi / Coke, 0.5 L or 16.9 fl oz
$2.72
$0.52
Rent & Utilities
🏙️ 1 bedroom apartment in Downtown, 40 m2 or 430 ft2
$1510
$171
🏡 Cheap 1 bedroom apartment, 40 m2 or 430 ft2
$1318
$76.3
🏙️ 3 bedroom apartment in Downtown, 80 m2 or 860 ft2
$2409
$314
🏡 Cheap 3 bedroom apartment, 80 m2 or 860 ft2
$2171
$187
🔌 Utility Bill one person, electricity, heating, water, etc.
$53.6
$14
🔌 Utility Bill for a Family, electricity, heating, water, etc.
$82.3
$21.7
🌐 Internet plan, 50 Mbps+ 1 month unlimited
$68.4
$27.8
🏦 Mortgage Interest Rate for 20 Years
6.82%
15.06%
🏙️ Apartment price to Buy in city Center, 1 m2 or 10 ft2
$5442
$9554
🏡 House price to Buy in Suburbs, 1 m2 or 10 ft2
$4321
$361
Transportation
🚌 Local transport ticket
$4.09
$0.59
🎟️ Monthly ticket local transport
$66.7
$13.4
🚕 Taxi Ride, 8 km or 5 mi
$26.1
$5.4
 Gas / Petrol, 1 L or 0.26 gal
$2.25
$1.02
Groceries
🥛 Milk, 1 L or 1 qt
$1.62
$0.7
🍞 Bread, 0.5 kg or 1.1 lb
$3.64
$0.64
🍚 Rice, 1 kg or 2.2 lb
$3.19
$0.77
🥚 Eggs, x12
$5.89
$1.24
🧀 Cheese, 1 kg or 2.2 lb
$14.9
$5.92
🐔 Chicken Breast, 1 kg or 2.2 lb
$18.5
$2.99
🥩 Round Steak, 1 kg or 2.2 lb
$29.5
$3.25
🍏 Apples, 1 kg or 2.2 lb
$2.99
$1.33
🍌 Banana, 1 kg or 2.2 lb
$2.16
$1.28
🍊 Oranges, 1 kg or 2.2 lb
$2.74
$2.09
🍅 Tomato, 1 kg or 2.2 lb
$4.51
$0.62
🥔 Potato, 1 kg or 2.2 lb
$2.86
$0.85
🧅 Onion, 1 kg or 2.2 lb
$1.83
$0.87
🌊 Water, 1 L or 1 qt
$1.33
$0.18
🍹 Coca-Cola / Pepsi, 2 L or 67.6 fl oz
$2.53
$0.69
🍾 Wine (mid-priced), 750 mL bottle
$19.4
$6.33
🍺 Beer, 0.5 L or 16 fl oz
$3.03
$0.62
🚬 Cigarette pack
$11.7
$0.92
💊 Cold medicince, 1 week
$11.6
$1.6
🧴 Hair Shampoo
$5.23
$1.34
🧻 Toilet paper, 4 rolls
$4.66
$0.67
👄 Toothpaste, 1 tube
$3.24
$0.72
Other
🏋️ Gym Membership, 1 month
$62
$12.5
🎫 Cinema Ticket, 1 person
$14.4
$2.06
👩‍⚕️ Doctor's visit
$82.9
$12.1
💇 Haircut, simple
$37.3
$2.58
👖 Brand Jeans
$106
$22.7
👟 Brand Sneakers
$144
$32.6
👶 Daycare or Preschool, 1 month
$245
$217
🏫 International Primary School, 1 year
$6038
$1420

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
$2723
140K
Kopavogur
$2304
39.8K
Hafnarfjorur
$2460
30.6K
Akureyri
$2011
19.9K
Keflavik
$2023
16.5K

In Malawi

City Cost of living Population
Blantyre
$363
1.9M
Lilongwe
$367
989K
Mzuzu
$338
150K
Zomba
$326
101K
Mangochi
$332
53.5K
Mzimba
$337
26.1K
Mulanje
$327
14.8K
Ntcheu
$332
14.6K
Monkey Bay
$335
14.6K