Melbourne vs Reykjavik - Cost of Living Comparison

Updated:

Livingcost

Melbourne Reykjavik
🚶 Cost of living one person
$2397
$2915
👨‍👩‍👧‍👦 Cost of living Family
$5694
$5968
🏠 One person rent
$1344
$1781
🏘️ Family rent
$2215
$2749
🍽️ Food expenses
$557
$832
🚐 Transport expenses
$345
$88.7
💳 Monthly salary after tax
$4357
$3918
😷 Air quality
Excellent
Excellent
✈️ Airport proximity
12 km
4 km
🎓 Higher education
100
53
😀 Quality of life
100
89
🏙️ Population
5.03M
140K

The cost of living in Melbourne is 18% less expensive than in Reykjavik. Cities ranked 923rd and 204th ($2397 vs $2915) in the list of the most expensive cities in the world and ranked 4th and 1st in Australia and Iceland, respectively. Check Australia vs Iceland comparison.

The average after-tax salary is enough to cover living expenses for 1.8 months in Melbourne compared to 1.3 months in Reykjavik. Melbourne ranked 1st best city to live in Australia vs Reykjavik ranked 1st in Iceland, while ranked 1st and 189th among best cities to live in the world.

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Cost of living in Melbourne vs Reykjavik infographic

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Prices in Melbourne vs Reykjavik

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

Melbourne Reykjavik
Eating Out
🍱 Lunch Menu
$15.4
$22
🥂 Dinner in a Restaurant, for 2
$62.1
$125
🥪 Fast food meal, equiv. McDonald's
$10.3
$18.5
🍻 Beer in a Pub, 0.5 L or 16 fl oz
$8.61
$11.1
 Cappuccino
$3.66
$5.35
🥤 Pepsi / Coke, 0.5 L or 16.9 fl oz
$2.82
$3.27
Rent & Utilities
🏙️ 1 bedroom apartment in Downtown, 40 m2 or 430 ft2
$1361
$1809
🏡 Cheap 1 bedroom apartment, 40 m2 or 430 ft2
$1146
$1626
🏙️ 3 bedroom apartment in Downtown, 80 m2 or 860 ft2
$2752
$2822
🏡 Cheap 3 bedroom apartment, 80 m2 or 860 ft2
$1818
$2552
🔌 Utility Bill one person, electricity, heating, water, etc.
$101
$44.2
🔌 Utility Bill for a Family, electricity, heating, water, etc.
$156
$68.4
🌐 Internet plan, 50 Mbps+ 1 month unlimited
$54
$74.1
🏦 Mortgage Interest Rate for 20 Years
6.33%
8.55%
🏙️ Apartment price to Buy in city Center, 1 m2 or 10 ft2
$7512
$6498
🏡 House price to Buy in Suburbs, 1 m2 or 10 ft2
$5768
$5311
Transportation
🚌 Local transport ticket
$3.66
$4.63
🎟️ Monthly ticket local transport
$126
$77.2
🚕 Taxi Ride, 8 km or 5 mi
$21.4
$24.8
 Gas / Petrol, 1 L or 0.26 gal
$1.36
$2.29
Groceries
🥛 Milk, 1 L or 1 qt
$1.47
$1.72
🍞 Bread, 0.5 kg or 1.1 lb
$2.64
$3.66
🍚 Rice, 1 kg or 2.2 lb
$2.33
$3.25
🥚 Eggs, x12
$4.36
$5.9
🧀 Cheese, 1 kg or 2.2 lb
$10.3
$16
🐔 Chicken Breast, 1 kg or 2.2 lb
$9.57
$21.4
🥩 Round Steak, 1 kg or 2.2 lb
$14.4
$37.6
🍏 Apples, 1 kg or 2.2 lb
$3.43
$3.07
🍌 Banana, 1 kg or 2.2 lb
$2.79
$2.29
🍊 Oranges, 1 kg or 2.2 lb
$2.65
$2.72
🍅 Tomato, 1 kg or 2.2 lb
$4.42
$4.99
🥔 Potato, 1 kg or 2.2 lb
$2.37
$3.21
🧅 Onion, 1 kg or 2.2 lb
$2.19
$2.16
🌊 Water, 1 L or 1 qt
$0.98
$1.37
🍹 Coca-Cola / Pepsi, 2 L or 67.6 fl oz
$2.61
$2.74
🍾 Wine (mid-priced), 750 mL bottle
$13.7
$22
🍺 Beer, 0.5 L or 16 fl oz
$4.74
$3.27
🚬 Cigarette pack
$26.8
$12.2
💊 Cold medicince, 1 week
$6.82
$11.6
🧴 Hair Shampoo
$7.97
$5.36
🧻 Toilet paper, 4 rolls
$3.51
$4.68
👄 Toothpaste, 1 tube
$4
$3.32
Other
🏋️ Gym Membership, 1 month
$52.8
$71.8
🎫 Cinema Ticket, 1 person
$15.4
$15.1
👩‍⚕️ Doctor's visit
$56.2
$84.7
💇 Haircut, simple
$23.1
$47.4
👖 Brand Jeans
$81.3
$112
👟 Brand Sneakers
$115
$155
👶 Daycare or Preschool, 1 month
$1974
$254
🏫 International Primary School, 1 year
$21306
$6167

Cost of living in other countries

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Cost of Living in the nearest cities

Cities near Melbourne

Distance City Cost of living
3.2 km or 2 mi South Yarra
$1758
24 km or 15 mi Hoppers Crossing
$1767
25 km or 16 mi Tarneit
$1757
29 km or 18 mi Dandenong
$1876
34 km or 21 mi Sunbury
$1822
37 km or 23 mi Melton
$1795
40 km or 25 mi Frankston
$1799
41 km or 25 mi Berwick
$1800
42 km or 26 mi Cranbourne
$1738
54 km or 34 mi Pakenham
$1805
65 km or 40 mi Geelong
$1892
102 km or 64 mi Ballarat
$1357
134 km or 83 mi Bendigo
$1397
144 km or 90 mi Traralgon
$1829
164 km or 102 mi Shepparton
$1717
226 km or 140 mi Warrnambool
$1697
367 km or 228 mi Mount Gambier
$1788
369 km or 230 mi Wagga Wagga
$1628
392 km or 244 mi Devonport
$1900
404 km or 251 mi Griffith
$1746
444 km or 276 mi Launceston
$1798
466 km or 290 mi Canberra
$2393
477 km or 296 mi Mildura
$1816
546 km or 339 mi Goulburn
$1748
597 km or 371 mi Hobart
$2265
628 km or 390 mi Orange
$1500
643 km or 399 mi Bathurst
$1674
651 km or 405 mi Wollongong
$1532
655 km or 407 mi Adelaide
$2246
700 km or 435 mi Blacktown
$1732
702 km or 436 mi Dubbo
$1815
703 km or 437 mi Parramatta
$2472
707 km or 440 mi Kellyville
$1997
713 km or 443 mi Sydney
$2801
728 km or 452 mi Dee Why
$2286
822 km or 511 mi Newcastle
$1833
891 km or 554 mi Whyalla
$2013
1015 km or 631 mi Port Macquarie
$1661
1021 km or 634 mi Armidale
$1289
1123 km or 698 mi Coffs Harbour
$1913

Cities near Reykjavik

Distance City Cost of living
6.8 km or 4.2 mi Kopavogur
$2371
9.8 km or 6.1 mi Hafnarfjorur
$2602
38 km or 24 mi Keflavik
$2091
247 km or 153 mi Akureyri
$2300
795 km or 494 mi Torshavn
$1913
1204 km or 748 mi Inverness
$1830
1230 km or 764 mi Elgin
$1459
1300 km or 808 mi Derry
$1491
1309 km or 813 mi Greenock
$1599
1321 km or 821 mi Aberdeen
$1701
1325 km or 823 mi Perth
$1647
1328 km or 825 mi Stirling
$1625
1331 km or 827 mi Paisley
$1793
1333 km or 828 mi Alloa
$1710
1337 km or 831 mi Glasgow
$2013
1339 km or 832 mi Dundee
$1545
1340 km or 833 mi Omagh
$1650
1341 km or 833 mi Cumbernauld
$1767
1342 km or 834 mi Irvine
$1573
1348 km or 838 mi East Kilbride
$1818
1349 km or 838 mi Kilmarnock
$1470
1351 km or 839 mi Dunfermline
$1724
1353 km or 841 mi Hamilton
$1793
1357 km or 843 mi Ayr
$1420
1360 km or 845 mi Kirkcaldy
$1704
1365 km or 848 mi Livingston
$1744
1372 km or 852 mi Edinburgh
$2246
1382 km or 859 mi Newtownabbey
$1767
1387 km or 862 mi Belfast
$1830
1390 km or 864 mi Bangor
$1467
1391 km or 864 mi Lisburn
$1805
1401 km or 871 mi Alesund
$1657
1413 km or 878 mi Galway
$2427
1425 km or 886 mi Dundalk
$1930
1431 km or 889 mi Dumfries
$1390
1433 km or 891 mi Nuuk
$2125
1441 km or 895 mi Molde
$1969
1454 km or 903 mi Kristiansund
$1752
1455 km or 904 mi Drogheda
$2492
1455 km or 904 mi Bergen
$2161