Minneapolis vs Reykjavik - Cost of Living Comparison

Updated: June 21, 2026

	Minneapolis	Reykjavik
🚶 Cost of living one person	$2434	$3205
👨‍👩‍👧‍👦 Cost of living Family	$5848	$6762
🏠 One person rent	$1415	$1954
🏘️ Family rent	$2495	$2956
🍽️ Food expenses	$729	$904
🚐 Transport expenses	$124	$100
💳 Monthly salary after tax	$4333	$4423
😷 Air quality	Excellent	Excellent
✈️ Airport proximity	12 km	4 km
🎓 Higher education	86	53
😀 Quality of life	88	88
🏙️ Population	430K	139K

The cost of living in Minneapolis is 24% less expensive than in Reykjavik. Cities ranked 1017th and 119th ($2434 vs $3205) in the list of the most expensive cities in the world and ranked 876th and 1st in the United States and Iceland, respectively. Check the United States vs Iceland comparison.

The average after-tax salary is enough to cover living expenses for 1.8 months in Minneapolis compared to 1.4 months in Reykjavik. Minneapolis ranked 80th best city to live in the United States vs Reykjavik ranked 1st in Iceland, while ranked 283rd and 258th among best cities to live in the world.

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the estimated difference in money purchasing power

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

Prices in Minneapolis vs Reykjavik

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

	Minneapolis	Reykjavik
Eating Out
🍱 Lunch Menu	$22.7	$28.3
🥂 Dinner in a Restaurant, for 2	$85.1	$97.9
🥪 Fast food meal, equiv. McDonald's	$11.9	$20
🍻 Beer in a Pub, 0.5 L or 16 fl oz	$6.46	$13.4
☕ Cappuccino	$6.19	$6.5
🥤 Pepsi / Coke, 0.5 L or 16.9 fl oz	$3.13	$3.26
Rent & Utilities
🏙️ 1 bedroom apartment in Downtown, 40 m2 or 430 ft2	$1623	$2129
🏡 Cheap 1 bedroom apartment, 40 m2 or 430 ft2	$1151	$1743
🏙️ 3 bedroom apartment in Downtown, 80 m2 or 860 ft2	$2834	$3328
🏡 Cheap 3 bedroom apartment, 80 m2 or 860 ft2	$2128	$2660
🔌 Utility Bill one person, electricity, heating, water, etc.	$99.8	$52.2
🔌 Utility Bill for a Family, electricity, heating, water, etc.	$156	$80.3
🌐 Internet plan, 50 Mbps+ 1 month unlimited	$70.3	$82
🏦 Mortgage Interest Rate for 20 Years	6.18%	8.69%
🏙️ Apartment price to Buy in city Center, 1 m2 or 10 ft2	$3389	$7748
🏡 House price to Buy in Suburbs, 1 m2 or 10 ft2	$2191	$6175
Transportation
🚌 Local transport ticket	$2.02	$5.38
🎟️ Monthly ticket local transport	$90.7	$90.3
🚕 Taxi Ride, 8 km or 5 mi	$18.8	$28.9
⛽ Gas / Petrol, 1 L or 0.26 gal	$0.94	$2.12
Groceries
🥛 Milk, 1 L or 1 qt	$0.9	$2.04
🍞 Bread, 0.5 kg or 1.1 lb	$3.38	$4.21
🍚 Rice, 1 kg or 2.2 lb	$7.02	$3.46
🥚 Eggs, x12	$4.24	$6.99
🧀 Cheese, 1 kg or 2.2 lb	$10.8	$20.2
🐔 Chicken Breast, 1 kg or 2.2 lb	$14.2	$24.8
🥩 Round Steak, 1 kg or 2.2 lb	$19.3	$44.1
🍏 Apples, 1 kg or 2.2 lb	$6.03	$3.41
🍌 Banana, 1 kg or 2.2 lb	$1.84	$2.66
🍊 Oranges, 1 kg or 2.2 lb	$6.63	$3.17
🍅 Tomato, 1 kg or 2.2 lb	$5.17	$5.99
🥔 Potato, 1 kg or 2.2 lb	$4.27	$3.65
🧅 Onion, 1 kg or 2.2 lb	$3.56	$1.89
🌊 Water, 1 L or 1 qt	$1.69	$1.16
🍹 Coca-Cola / Pepsi, 2 L or 67.6 fl oz	$2.29	$3
🍾 Wine (mid-priced), 750 mL bottle	$15.9	$23.2
🍺 Beer, 0.5 L or 16 fl oz	$2.81	$3.72
🚬 Cigarette pack	$12.9	$13.5
💊 Cold medicince, 1 week	$8.48	$11.6
🧴 Hair Shampoo	$5.54	$5.76
🧻 Toilet paper, 4 rolls	$3.56	$5.18
👄 Toothpaste, 1 tube	$1.91	$3.63
Other
🏋️ Gym Membership, 1 month	$64.8	$90.3
🎫 Cinema Ticket, 1 person	$16	$19.2
👩‍⚕️ Doctor's visit	$114	$92.8
💇 Haircut, simple	$16.5	$47.2
👖 Brand Jeans	$58.5	$146
👟 Brand Sneakers	$99.8	$178
👶 Daycare or Preschool, 1 month	$1397	$472
🏫 International Primary School, 1 year	$26236	$30029

Cost of living in other countries

Cost of living

Cost of Living in the nearest cities

Cities near Minneapolis

Distance	City	Cost of living
7 km or 4.4 mi	Golden Valley	$2323
8.4 km or 5.2 mi	St. Louis Park	$2331
9.1 km or 5.7 mi	Crystal	$2319
9.2 km or 5.7 mi	Roseville	$2223
10 km or 6.2 mi	Richfield	$2290
10 km or 6.4 mi	Brooklyn Center	$2327
11 km or 6.6 mi	New Hope	$2304
11 km or 6.8 mi	New Brighton	$2273
12 km or 7.2 mi	Fridley	$2270
12 km or 7.3 mi	Edina	$2313
14 km or 8.8 mi	Brooklyn Park	$2296
14 km or 9 mi	Saint Paul	$2045
14 km or 9 mi	Shoreview	$2251
15 km or 9.3 mi	Plymouth	$2312
15 km or 9.6 mi	Coon Rapids	$2206
17 km or 10 mi	Bloomington	$2250
18 km or 11 mi	Maple Grove	$2321
20 km or 12 mi	Minnetonka	$2315
20 km or 12 mi	Eagan	$2213
20 km or 12 mi	Blaine	$2356
21 km or 13 mi	South St. Paul	$2156
21 km or 13 mi	Eden Prairie	$2336
22 km or 14 mi	Maplewood	$2194
23 km or 14 mi	Savage	$2233
23 km or 14 mi	Inver Grove Heights	$2184
23 km or 15 mi	White Bear Lake	$2228
24 km or 15 mi	Burnsville	$2223
24 km or 15 mi	Oakdale	$2211
24 km or 15 mi	Lino Lakes	$2267
25 km or 15 mi	Chanhassen	$2307
25 km or 16 mi	Champlin	$2402
27 km or 17 mi	Woodbury	$2287
28 km or 17 mi	Andover	$2326
28 km or 17 mi	Apple Valley	$2103
29 km or 18 mi	Shakopee	$2291
29 km or 18 mi	Rosemount	$2175
31 km or 19 mi	Cottage Grove	$2215
32 km or 20 mi	Prior Lake	$2222
34 km or 21 mi	Chaska	$2273
34 km or 21 mi	Ramsey	$2618

Cities near Reykjavik

Distance	City	Cost of living
6.8 km or 4.2 mi	Kopavogur	$3092
9.8 km or 6.1 mi	Hafnarfjorur	$3106
38 km or 24 mi	Keflavik	$2581
247 km or 153 mi	Akureyri	$2921
795 km or 494 mi	Torshavn	$2017
1204 km or 748 mi	Inverness	$2005
1230 km or 764 mi	Elgin	$1523
1300 km or 808 mi	Derry	$1646
1309 km or 813 mi	Greenock	$1647
1321 km or 821 mi	Aberdeen	$1806
1325 km or 823 mi	Perth	$1640
1328 km or 825 mi	Stirling	$1835
1331 km or 827 mi	Paisley	$1885
1333 km or 828 mi	Alloa	$1842
1337 km or 831 mi	Glasgow	$2114
1339 km or 832 mi	Dundee	$1593
1340 km or 833 mi	Omagh	$1763
1341 km or 833 mi	Cumbernauld	$1611
1342 km or 834 mi	Irvine	$1704
1348 km or 838 mi	East Kilbride	$1878
1349 km or 838 mi	Kilmarnock	$1600
1351 km or 839 mi	Dunfermline	$1750
1353 km or 841 mi	Hamilton	$1831
1357 km or 843 mi	Ayr	$1586
1360 km or 845 mi	Kirkcaldy	$1794
1365 km or 848 mi	Livingston	$1760
1372 km or 852 mi	Edinburgh	$2295
1382 km or 859 mi	Newtownabbey	$1820
1387 km or 862 mi	Belfast	$1878
1390 km or 864 mi	Bangor	$1485
1391 km or 864 mi	Lisburn	$1923
1401 km or 871 mi	Alesund	$2021
1413 km or 878 mi	Galway	$3003
1425 km or 886 mi	Dundalk	$2264
1431 km or 889 mi	Dumfries	$1456
1433 km or 891 mi	Nuuk	$2508
1441 km or 895 mi	Molde	$2101
1454 km or 903 mi	Kristiansund	$1944
1455 km or 904 mi	Drogheda	$2518
1455 km or 904 mi	Bergen	$2336