Minneapolis vs Reykjavik - Cost of Living Comparison

Updated: March 02, 2025

	Minneapolis	Reykjavik
🚶 Cost of living one person	$2308	$2938
👨‍👩‍👧‍👦 Cost of living Family	$5659	$5875
🏠 One person rent	$1339	$1801
🏘️ Family rent	$2336	$2674
🍽️ Food expenses	$689	$827
🚐 Transport expenses	$122	$90.1
💳 Monthly salary after tax	$4620	$3761
😷 Air quality	Moderate	Excellent
✈️ Airport proximity	12 km	4 km
🎓 Higher education	84	53
😀 Quality of life	88	89
🏙️ Population	430K	140K

The cost of living in Minneapolis is 21% less expensive than in Reykjavik. Cities ranked 1145th and 200th ($2308 vs $2938) in the list of the most expensive cities in the world and ranked 1045th 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 2 months in Minneapolis compared to 1.3 months in Reykjavik. Minneapolis ranked 53rd best city to live in the United States vs Reykjavik ranked 1st in Iceland, while ranked 237th and 194th among best cities to live in the world.

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Cost of living in Minneapolis vs Reykjavik infographic

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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	$19.1	$21.5
🥂 Dinner in a Restaurant, for 2	$90.8	$137
🥪 Fast food meal, equiv. McDonald's	$11.9	$17.9
🍻 Beer in a Pub, 0.5 L or 16 fl oz	$6.52	$10.8
☕ Cappuccino	$5.89	$5.37
🥤 Pepsi / Coke, 0.5 L or 16.9 fl oz	$3.02	$3.09
Rent & Utilities
🏙️ 1 bedroom apartment in Downtown, 40 m2 or 430 ft2	$1496	$1839
🏡 Cheap 1 bedroom apartment, 40 m2 or 430 ft2	$1093	$1650
🏙️ 3 bedroom apartment in Downtown, 80 m2 or 860 ft2	$2583	$2869
🏡 Cheap 3 bedroom apartment, 80 m2 or 860 ft2	$1998	$2456
🔌 Utility Bill one person, electricity, heating, water, etc.	$101	$42.1
🔌 Utility Bill for a Family, electricity, heating, water, etc.	$157	$64.6
🌐 Internet plan, 50 Mbps+ 1 month unlimited	$63.6	$71.4
🏦 Mortgage Interest Rate for 20 Years	6.57%	9.41%
🏙️ Apartment price to Buy in city Center, 1 m2 or 10 ft2	$3373	$6649
🏡 House price to Buy in Suburbs, 1 m2 or 10 ft2	$2457	$5599
Transportation
🚌 Local transport ticket	$2.52	$4.52
🎟️ Monthly ticket local transport	$88.2	$75.8
🚕 Taxi Ride, 8 km or 5 mi	$18.4	$26.4
⛽ Gas / Petrol, 1 L or 0.26 gal	$0.9	$2.23
Groceries
🥛 Milk, 1 L or 1 qt	$0.96	$1.66
🍞 Bread, 0.5 kg or 1.1 lb	$3.86	$3.74
🍚 Rice, 1 kg or 2.2 lb	$4.93	$3.24
🥚 Eggs, x12	$3.64	$5.94
🧀 Cheese, 1 kg or 2.2 lb	$11.5	$15.8
🐔 Chicken Breast, 1 kg or 2.2 lb	$14.8	$20.9
🥩 Round Steak, 1 kg or 2.2 lb	$17.2	$37
🍏 Apples, 1 kg or 2.2 lb	$5.73	$2.94
🍌 Banana, 1 kg or 2.2 lb	$1.96	$2.25
🍊 Oranges, 1 kg or 2.2 lb	$6.88	$2.73
🍅 Tomato, 1 kg or 2.2 lb	$5.1	$4.73
🥔 Potato, 1 kg or 2.2 lb	$2.6	$3.26
🧅 Onion, 1 kg or 2.2 lb	$3.27	$2.11
🌊 Water, 1 L or 1 qt	$1.48	$1.36
🍹 Coca-Cola / Pepsi, 2 L or 67.6 fl oz	$2.27	$2.69
🍾 Wine (mid-priced), 750 mL bottle	$15	$21.6
🍺 Beer, 0.5 L or 16 fl oz	$2.11	$3.26
🚬 Cigarette pack	$12.1	$12.3
💊 Cold medicince, 1 week	$8.38	$10.4
🧴 Hair Shampoo	$5.48	$5.23
🧻 Toilet paper, 4 rolls	$3.56	$4.55
👄 Toothpaste, 1 tube	$1.88	$3.2
Other
🏋️ Gym Membership, 1 month	$51.2	$73.2
🎫 Cinema Ticket, 1 person	$15	$15.9
👩‍⚕️ Doctor's visit	$113	$82.2
💇 Haircut, simple	$16.5	$45.6
👖 Brand Jeans	$63	$128
👟 Brand Sneakers	$85.5	$162
👶 Daycare or Preschool, 1 month	$1724	$279
🏫 International Primary School, 1 year	$27328	$2532

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	$2239
8.4 km or 5.2 mi	St. Louis Park	$2234
9.1 km or 5.7 mi	Crystal	$2255
9.2 km or 5.7 mi	Roseville	$2157
10 km or 6.2 mi	Richfield	$2227
10 km or 6.4 mi	Brooklyn Center	$2297
11 km or 6.6 mi	New Hope	$2281
11 km or 6.8 mi	New Brighton	$2275
12 km or 7.2 mi	Fridley	$2331
12 km or 7.3 mi	Edina	$2259
14 km or 8.8 mi	Brooklyn Park	$2340
14 km or 9 mi	Saint Paul	$1952
14 km or 9 mi	Shoreview	$2264
15 km or 9.3 mi	Plymouth	$2280
15 km or 9.6 mi	Coon Rapids	$2328
17 km or 10 mi	Bloomington	$2260
18 km or 11 mi	Maple Grove	$2321
20 km or 12 mi	Minnetonka	$2317
20 km or 12 mi	Eagan	$2214
20 km or 12 mi	Blaine	$2557
21 km or 13 mi	South St. Paul	$2085
21 km or 13 mi	Eden Prairie	$2382
22 km or 14 mi	Maplewood	$2092
23 km or 14 mi	Savage	$2269
23 km or 14 mi	Inver Grove Heights	$2134
23 km or 15 mi	White Bear Lake	$2213
24 km or 15 mi	Burnsville	$2263
24 km or 15 mi	Oakdale	$2119
24 km or 15 mi	Lino Lakes	$2324
25 km or 15 mi	Chanhassen	$2335
25 km or 16 mi	Champlin	$2478
27 km or 17 mi	Woodbury	$2159
28 km or 17 mi	Andover	$2401
28 km or 17 mi	Apple Valley	$2214
29 km or 18 mi	Shakopee	$2321
29 km or 18 mi	Rosemount	$2213
31 km or 19 mi	Cottage Grove	$2163
32 km or 20 mi	Prior Lake	$2273
34 km or 21 mi	Chaska	$2293
34 km or 21 mi	Ramsey	$2682

Cities near Reykjavik

Distance	City	Cost of living
6.8 km or 4.2 mi	Kopavogur	$2802
9.8 km or 6.1 mi	Hafnarfjorur	$2817
38 km or 24 mi	Keflavik	$2355
247 km or 153 mi	Akureyri	$2678
795 km or 494 mi	Torshavn	$1828
1204 km or 748 mi	Inverness	$1722
1230 km or 764 mi	Elgin	$1393
1300 km or 808 mi	Derry	$1390
1309 km or 813 mi	Greenock	$1601
1321 km or 821 mi	Aberdeen	$1614
1325 km or 823 mi	Perth	$1500
1328 km or 825 mi	Stirling	$1604
1331 km or 827 mi	Paisley	$1765
1333 km or 828 mi	Alloa	$1649
1337 km or 831 mi	Glasgow	$2011
1339 km or 832 mi	Dundee	$1482
1340 km or 833 mi	Omagh	$1562
1341 km or 833 mi	Cumbernauld	$1475
1342 km or 834 mi	Irvine	$1551
1348 km or 838 mi	East Kilbride	$1763
1349 km or 838 mi	Kilmarnock	$1480
1351 km or 839 mi	Dunfermline	$1692
1353 km or 841 mi	Hamilton	$1699
1357 km or 843 mi	Ayr	$1404
1360 km or 845 mi	Kirkcaldy	$1610
1365 km or 848 mi	Livingston	$1608
1372 km or 852 mi	Edinburgh	$2140
1382 km or 859 mi	Newtownabbey	$1692
1387 km or 862 mi	Belfast	$1755
1390 km or 864 mi	Bangor	$1382
1391 km or 864 mi	Lisburn	$1713
1401 km or 871 mi	Alesund	$1603
1413 km or 878 mi	Galway	$2297
1425 km or 886 mi	Dundalk	$1767
1431 km or 889 mi	Dumfries	$1246
1433 km or 891 mi	Nuuk	$2031
1441 km or 895 mi	Molde	$1813
1454 km or 903 mi	Kristiansund	$1700
1455 km or 904 mi	Drogheda	$2628
1455 km or 904 mi	Bergen	$2006