Madrid vs Reykjavik - Cost of Living Comparison

Updated:

Livingcost

Madrid Reykjavik
🚶 Cost of living one person
$1726
$2723
👨‍👩‍👧‍👦 Cost of living Family
$3985
$5671
🏠 One person rent
$986
$1643
🏘️ Family rent
$1693
$2600
🍽️ Food expenses
$440
$800
🚐 Transport expenses
$168
$86.1
💳 Monthly salary after tax
$2362
$3682
😷 Air quality
Excellent
Excellent
✈️ Airport proximity
10 km
4 km
🎓 Higher education
98
53
😀 Quality of life
90
89
🏙️ Population
3.28M
140K

The cost of living in Madrid is 37% less expensive than in Reykjavik. Cities ranked 2577th and 344th ($1726 vs $2723) in the list of the most expensive cities in the world and ranked 7th and 1st in Spain and Iceland, respectively. Check Spain vs Iceland comparison.

The average after-tax salary is enough to cover living expenses for 1.4 months in Madrid compared to 1.4 months in Reykjavik. Madrid ranked 1st best city to live in Spain vs Reykjavik ranked 1st in Iceland, while ranked 121st and 152nd among best cities to live in the world.

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Cost of living in Madrid vs Reykjavik infographic

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Prices in Madrid vs Reykjavik

Prices for goods and services in Madrid and Reykjavik are partly crowdsourced by our visitors, just like yourself. Please consider telling us about your city.

Madrid Reykjavik
Eating Out
🍱 Lunch Menu
$14.1
$21.6
🥂 Dinner in a Restaurant, for 2
$58.9
$125
🥪 Fast food meal, equiv. McDonald's
$10
$16.9
🍻 Beer in a Pub, 0.5 L or 16 fl oz
$4.01
$10.9
 Cappuccino
$2.55
$5.05
🥤 Pepsi / Coke, 0.5 L or 16.9 fl oz
$2.69
$2.94
Rent & Utilities
🏙️ 1 bedroom apartment in Downtown, 40 m2 or 430 ft2
$1118
$1659
🏡 Cheap 1 bedroom apartment, 40 m2 or 430 ft2
$805
$1492
🏙️ 3 bedroom apartment in Downtown, 80 m2 or 860 ft2
$2068
$2694
🏡 Cheap 3 bedroom apartment, 80 m2 or 860 ft2
$1386
$2395
🔌 Utility Bill one person, electricity, heating, water, etc.
$85.8
$52.4
🔌 Utility Bill for a Family, electricity, heating, water, etc.
$138
$80.5
🌐 Internet plan, 50 Mbps+ 1 month unlimited
$32.9
$64.8
🏦 Mortgage Interest Rate for 20 Years
2.58%
8.07%
🏙️ Apartment price to Buy in city Center, 1 m2 or 10 ft2
$4611
$6252
🏡 House price to Buy in Suburbs, 1 m2 or 10 ft2
$2665
$4951
Transportation
🚌 Local transport ticket
$1.64
$4.13
🎟️ Monthly ticket local transport
$43.5
$66.6
🚕 Taxi Ride, 8 km or 5 mi
$14
$26.3
 Gas / Petrol, 1 L or 0.26 gal
$1.81
$2.28
Groceries
🥛 Milk, 1 L or 1 qt
$1.15
$1.65
🍞 Bread, 0.5 kg or 1.1 lb
$1.5
$3.71
🍚 Rice, 1 kg or 2.2 lb
$1.44
$3.27
🥚 Eggs, x12
$3.16
$6.03
🧀 Cheese, 1 kg or 2.2 lb
$14.8
$15.4
🐔 Chicken Breast, 1 kg or 2.2 lb
$8.08
$19.8
🥩 Round Steak, 1 kg or 2.2 lb
$14.9
$31
🍏 Apples, 1 kg or 2.2 lb
$2.39
$3.2
🍌 Banana, 1 kg or 2.2 lb
$1.93
$2.12
🍊 Oranges, 1 kg or 2.2 lb
$1.79
$2.81
🍅 Tomato, 1 kg or 2.2 lb
$2.45
$4.84
🥔 Potato, 1 kg or 2.2 lb
$1.48
$3.07
🧅 Onion, 1 kg or 2.2 lb
$1.58
$2.14
🌊 Water, 1 L or 1 qt
$0.64
$1.44
🍹 Coca-Cola / Pepsi, 2 L or 67.6 fl oz
$2.24
$2.53
🍾 Wine (mid-priced), 750 mL bottle
$6.7
$20
🍺 Beer, 0.5 L or 16 fl oz
$1.33
$3.08
🚬 Cigarette pack
$5.86
$11.8
💊 Cold medicince, 1 week
$11.5
$11.6
🧴 Hair Shampoo
$3.45
$5.21
🧻 Toilet paper, 4 rolls
$2.12
$4.67
👄 Toothpaste, 1 tube
$2.44
$3.24
Other
🏋️ Gym Membership, 1 month
$45.2
$63.3
🎫 Cinema Ticket, 1 person
$10.5
$14.5
👩‍⚕️ Doctor's visit
$72.3
$83
💇 Haircut, simple
$19.1
$37.2
👖 Brand Jeans
$73.2
$105
👟 Brand Sneakers
$84.6
$142
👶 Daycare or Preschool, 1 month
$529
$239
🏫 International Primary School, 1 year
$9474
$6072

Cost of living in other countries

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Cost of Living in the nearest cities

Cities near Madrid

Distance City Cost of living
11 km or 6.6 mi Pozuelo de Alarcon
$1721
11 km or 6.7 mi Coslada
$1368
14 km or 8.5 mi Alcobendas
$1377
18 km or 11 mi Mostoles
$1572
18 km or 11 mi Fuenlabrada
$1492
18 km or 11 mi Torrejon de Ardoz
$1219
21 km or 13 mi Tres Cantos
$1298
29 km or 18 mi Alcala de Henares
$1156
50 km or 31 mi Guadalajara
$1138
68 km or 42 mi Toledo
$1282
69 km or 43 mi Segovia
$1303
138 km or 86 mi Cuenca
$1139
155 km or 97 mi Laguna de Duero
$1187
158 km or 98 mi Villarrobledo
$1203
162 km or 101 mi Valladolid
$1207
177 km or 110 mi Salamanca
$973
196 km or 122 mi Puertollano
$932
208 km or 129 mi Plasencia
$1127
211 km or 131 mi Zamora
$1140
215 km or 133 mi Burgos
$1109
223 km or 139 mi Albacete
$983
242 km or 150 mi Villanueva de la Serena
$1137
244 km or 151 mi Requena
$1241
250 km or 156 mi Logrono
$1142
251 km or 156 mi Caceres
$902
253 km or 157 mi Tudela
$1260
258 km or 160 mi Linares
$1206
269 km or 167 mi Ubeda
$1283
272 km or 169 mi Zaragoza
$1327
281 km or 175 mi Merida
$1096
283 km or 176 mi Vitoria-Gasteiz
$1382
288 km or 179 mi Leon
$987
295 km or 183 mi Jaen
$963
296 km or 184 mi Jumilla
$1191
297 km or 184 mi Cordoba
$1056
298 km or 185 mi Yecla
$1210
299 km or 186 mi Braganca
$807
301 km or 187 mi Martos
$1214
302 km or 187 mi Caravaca de la Cruz
$1176
302 km or 188 mi Valencia
$1437

Cities near Reykjavik

Distance City Cost of living
6.8 km or 4.2 mi Kopavogur
$2304
9.8 km or 6.1 mi Hafnarfjorur
$2460
38 km or 24 mi Keflavik
$2023
247 km or 153 mi Akureyri
$2011
795 km or 494 mi Torshavn
$1952
1204 km or 748 mi Inverness
$1629
1230 km or 764 mi Elgin
$1554
1300 km or 808 mi Derry
$1662
1309 km or 813 mi Greenock
$1524
1321 km or 821 mi Aberdeen
$1681
1325 km or 823 mi Perth
$1537
1328 km or 825 mi Stirling
$1659
1331 km or 827 mi Paisley
$1734
1333 km or 828 mi Alloa
$1670
1337 km or 831 mi Glasgow
$1884
1339 km or 832 mi Dundee
$1527
1340 km or 833 mi Omagh
$1642
1341 km or 833 mi Cumbernauld
$1803
1342 km or 834 mi Irvine
$1514
1348 km or 838 mi East Kilbride
$1748
1349 km or 838 mi Kilmarnock
$1399
1351 km or 839 mi Dunfermline
$1693
1353 km or 841 mi Hamilton
$1731
1357 km or 843 mi Ayr
$1520
1360 km or 845 mi Kirkcaldy
$1800
1365 km or 848 mi Livingston
$1651
1372 km or 852 mi Edinburgh
$2043
1382 km or 859 mi Newtownabbey
$1666
1387 km or 862 mi Belfast
$1741
1390 km or 864 mi Bangor
$1305
1391 km or 864 mi Lisburn
$1643
1401 km or 871 mi Alesund
$1539
1413 km or 878 mi Galway
$2244
1425 km or 886 mi Dundalk
$1869
1431 km or 889 mi Dumfries
$1723
1433 km or 891 mi Nuuk
$2175
1441 km or 895 mi Molde
$1928
1454 km or 903 mi Kristiansund
$1632
1455 km or 904 mi Drogheda
$2391
1455 km or 904 mi Bergen
$1991