Minneapolis vs Reykjavik - Cost of Living Comparison

Updated: March 11, 2026

	Minneapolis	Reykjavik
🚶 Cost of living one person	$2384	$3322
👨‍👩‍👧‍👦 Cost of living Family	$5758	$6846
🏠 One person rent	$1405	$2058
🏘️ Family rent	$2471	$3020
🍽️ Food expenses	$702	$916
🚐 Transport expenses	$118	$102
💳 Monthly salary after tax	$4498	$4546
😷 Air quality	Excellent	Excellent
✈️ Airport proximity	12 km	4 km
🎓 Higher education	86	52
😀 Quality of life	89	89
🏙️ Population	430K	139K

The cost of living in Minneapolis is 28% less expensive than in Reykjavik. Cities ranked 1119th and 86th ($2384 vs $3322) in the list of the most expensive cities in the world and ranked 959th 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 1.9 months in Minneapolis compared to 1.4 months in Reykjavik. Minneapolis ranked 71st best city to live in the United States vs Reykjavik ranked 1st in Iceland, while ranked 263rd and 268th among best cities to live in the world.

Salary adjustment calculator
the estimated difference in money purchasing power

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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	$19.8	$28.6
🥂 Dinner in a Restaurant, for 2	$85.8	$90.8
🥪 Fast food meal, equiv. McDonald's	$12.1	$20.3
🍻 Beer in a Pub, 0.5 L or 16 fl oz	$5.95	$12.6
☕ Cappuccino	$6.06	$6.19
🥤 Pepsi / Coke, 0.5 L or 16.9 fl oz	$3.17	$3.25
Rent & Utilities
🏙️ 1 bedroom apartment in Downtown, 40 m2 or 430 ft2	$1609	$2151
🏡 Cheap 1 bedroom apartment, 40 m2 or 430 ft2	$1141	$1861
🏙️ 3 bedroom apartment in Downtown, 80 m2 or 860 ft2	$2803	$3373
🏡 Cheap 3 bedroom apartment, 80 m2 or 860 ft2	$2106	$2721
🔌 Utility Bill one person, electricity, heating, water, etc.	$103	$51.6
🔌 Utility Bill for a Family, electricity, heating, water, etc.	$158	$81.7
🌐 Internet plan, 50 Mbps+ 1 month unlimited	$67.4	$87.2
🏦 Mortgage Interest Rate for 20 Years	6.47%	8.79%
🏙️ Apartment price to Buy in city Center, 1 m2 or 10 ft2	$3392	$7832
🏡 House price to Buy in Suburbs, 1 m2 or 10 ft2	$2176	$6385
Transportation
🚌 Local transport ticket	$2.01	$5.51
🎟️ Monthly ticket local transport	$85.1	$87.9
🚕 Taxi Ride, 8 km or 5 mi	$18.6	$29.5
⛽ Gas / Petrol, 1 L or 0.26 gal	$0.83	$2.49
Groceries
🥛 Milk, 1 L or 1 qt	$0.93	$1.98
🍞 Bread, 0.5 kg or 1.1 lb	$3.45	$4.44
🍚 Rice, 1 kg or 2.2 lb	$6.09	$3.58
🥚 Eggs, x12	$4.09	$6.83
🧀 Cheese, 1 kg or 2.2 lb	$12.6	$19.7
🐔 Chicken Breast, 1 kg or 2.2 lb	$14.5	$26
🥩 Round Steak, 1 kg or 2.2 lb	$18.5	$44.9
🍏 Apples, 1 kg or 2.2 lb	$6.07	$3.55
🍌 Banana, 1 kg or 2.2 lb	$1.81	$2.67
🍊 Oranges, 1 kg or 2.2 lb	$6.7	$3.41
🍅 Tomato, 1 kg or 2.2 lb	$4.66	$5.8
🥔 Potato, 1 kg or 2.2 lb	$3.7	$3.52
🧅 Onion, 1 kg or 2.2 lb	$3.1	$2.2
🌊 Water, 1 L or 1 qt	$1.69	$1.27
🍹 Coca-Cola / Pepsi, 2 L or 67.6 fl oz	$2.25	$3.01
🍾 Wine (mid-priced), 750 mL bottle	$16.1	$24.2
🍺 Beer, 0.5 L or 16 fl oz	$2.44	$3.95
🚬 Cigarette pack	$12.1	$14
💊 Cold medicince, 1 week	$8.37	$12.7
🧴 Hair Shampoo	$5.53	$5.93
🧻 Toilet paper, 4 rolls	$3.57	$5.26
👄 Toothpaste, 1 tube	$1.88	$3.63
Other
🏋️ Gym Membership, 1 month	$56.7	$95.3
🎫 Cinema Ticket, 1 person	$15.1	$18.6
👩‍⚕️ Doctor's visit	$113	$93.8
💇 Haircut, simple	$16.5	$46.1
👖 Brand Jeans	$55.7	$144
👟 Brand Sneakers	$92.3	$176
👶 Daycare or Preschool, 1 month	$1530	$408
🏫 International Primary School, 1 year	$26188	$30361

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	$2289
8.4 km or 5.2 mi	St. Louis Park	$2287
9.1 km or 5.7 mi	Crystal	$2288
9.2 km or 5.7 mi	Roseville	$2219
10 km or 6.2 mi	Richfield	$2270
10 km or 6.4 mi	Brooklyn Center	$2277
11 km or 6.6 mi	New Hope	$2284
11 km or 6.8 mi	New Brighton	$2260
12 km or 7.2 mi	Fridley	$2273
12 km or 7.3 mi	Edina	$2278
14 km or 8.8 mi	Brooklyn Park	$2273
14 km or 9 mi	Saint Paul	$2062
14 km or 9 mi	Shoreview	$2257
15 km or 9.3 mi	Plymouth	$2290
15 km or 9.6 mi	Coon Rapids	$2175
17 km or 10 mi	Bloomington	$2229
18 km or 11 mi	Maple Grove	$2303
20 km or 12 mi	Minnetonka	$2293
20 km or 12 mi	Eagan	$2189
20 km or 12 mi	Blaine	$2361
21 km or 13 mi	South St. Paul	$2160
21 km or 13 mi	Eden Prairie	$2359
22 km or 14 mi	Maplewood	$2197
23 km or 14 mi	Savage	$2212
23 km or 14 mi	Inver Grove Heights	$2189
23 km or 15 mi	White Bear Lake	$2234
24 km or 15 mi	Burnsville	$2192
24 km or 15 mi	Oakdale	$2230
24 km or 15 mi	Lino Lakes	$2275
25 km or 15 mi	Chanhassen	$2304
25 km or 16 mi	Champlin	$2410
27 km or 17 mi	Woodbury	$2292
28 km or 17 mi	Andover	$2354
28 km or 17 mi	Apple Valley	$2125
29 km or 18 mi	Shakopee	$2272
29 km or 18 mi	Rosemount	$2174
31 km or 19 mi	Cottage Grove	$2216
32 km or 20 mi	Prior Lake	$2219
34 km or 21 mi	Chaska	$2259
34 km or 21 mi	Ramsey	$2582

Cities near Reykjavik

Distance	City	Cost of living
6.8 km or 4.2 mi	Kopavogur	$3219
9.8 km or 6.1 mi	Hafnarfjorur	$3212
38 km or 24 mi	Keflavik	$2621
247 km or 153 mi	Akureyri	$2974
795 km or 494 mi	Torshavn	$2066
1204 km or 748 mi	Inverness	$2053
1230 km or 764 mi	Elgin	$1540
1300 km or 808 mi	Derry	$1620
1309 km or 813 mi	Greenock	$1645
1321 km or 821 mi	Aberdeen	$1848
1325 km or 823 mi	Perth	$1656
1328 km or 825 mi	Stirling	$1852
1331 km or 827 mi	Paisley	$1906
1333 km or 828 mi	Alloa	$1862
1337 km or 831 mi	Glasgow	$2121
1339 km or 832 mi	Dundee	$1585
1340 km or 833 mi	Omagh	$1769
1341 km or 833 mi	Cumbernauld	$1652
1342 km or 834 mi	Irvine	$1707
1348 km or 838 mi	East Kilbride	$1902
1349 km or 838 mi	Kilmarnock	$1568
1351 km or 839 mi	Dunfermline	$1782
1353 km or 841 mi	Hamilton	$1854
1357 km or 843 mi	Ayr	$1588
1360 km or 845 mi	Kirkcaldy	$1821
1365 km or 848 mi	Livingston	$1784
1372 km or 852 mi	Edinburgh	$2331
1382 km or 859 mi	Newtownabbey	$1892
1387 km or 862 mi	Belfast	$1954
1390 km or 864 mi	Bangor	$1496
1391 km or 864 mi	Lisburn	$1945
1401 km or 871 mi	Alesund	$1980
1413 km or 878 mi	Galway	$2978
1425 km or 886 mi	Dundalk	$2179
1431 km or 889 mi	Dumfries	$1490
1433 km or 891 mi	Nuuk	$2363
1441 km or 895 mi	Molde	$2135
1454 km or 903 mi	Kristiansund	$1984
1455 km or 904 mi	Drogheda	$2627
1455 km or 904 mi	Bergen	$2409