How much would it cost to live in iceland? Like per month? I am planning on taking my honeymoon in iceland and staying for about a month, and maybe even moving there afterwards with my wife if I could arrange all the work and residence permits. I would like to know how much the cost of living is monthly there- food, accommodation, transport. Also, can I get around on public transport, or is it necessary to buy/rent a car in Reykjavik?