Cost of living in Torshavn

Torshavn, the capital of the Faroe Islands, is a vibrant city known for its unique culture and stunning landscapes. Understanding the cost of living here is crucial for anyone considering relocating or visiting.This guide provides a detailed breakdown of expenses in Torshavn, including housing, dining, transportation, and more, to help you plan your budget effectively.

Cost of Living Summary

Dining and Restaurants
  • Inexpensive Restaurant MealA meal at a casual restaurant will typically cost $21.19 on average, with a range between $14.13 and $49.44.
  • Mid-Range Restaurant (Three-Course Meal for Two)For a more upscale dining experience, expect to pay around $127.14, with prices ranging from $56.51 to $141.27.
  • Fast Food (e.g., McDonald's)A McMeal or equivalent combo meal averages $19.18, with a range between $18.36 and $20.
  • Beverages (e.g., Domestic Beer, Imported Beer, Cappuccino, Coke/Pepsi)Domestic beer ranges from $8.48 to $10, imported beer $7.06 to $15, cappuccino $3.11 to $8, and Coke/Pepsi $2.54 to $3.53.
Grocery Prices
  • MilkMilk is priced between $1.7 and $2.4 per liter, averaging $2.08.
  • Bread (Loaf of Fresh White Bread)A loaf of fresh white bread costs between $3.11 and $4.24, with an average price of $3.63.
  • Eggs (Dozen)A dozen eggs range from $3.39 to $6.61, averaging $4.7.
  • Fruits (e.g., Apples, Oranges)Apples cost $2.12 per kg, while oranges range from $2.83 per kg.
  • Vegetables (e.g., Potatoes, Lettuce)Potatoes are priced at $2.54 per kg, and lettuce costs $2.26 per head.
Transportation
  • Public Transport (One-Way Ticket)Currently, there is no available data for the cost of a one-way local transport ticket.
  • Fuel (Gasoline)Gasoline is priced between $1.66 and $2.12 per liter.
  • Taxi FaresTaxi fares start at $11.3.
Housing Costs
  • 1-Bedroom Apartment Rent (City Centre)Rent for a 1-bedroom apartment in the city centre ranges from $706.33 to $1553.92, averaging $1017.11.
  • 1-Bedroom Apartment Rent (Outside Centre)Outside the centre, rent ranges from $565.06 to $1271.39, averaging $776.96.
  • 3-Bedroom Apartment Rent (City Centre)Rent for a 3-bedroom apartment in the city centre ranges from $1412.65 to $2118.98, averaging $1765.81.
  • 3-Bedroom Apartment Rent (Outside Centre)Outside the centre, rent ranges from $1130.12 to $1695.18, averaging $1377.33.
  • Buying Price per Square Meter (City Centre)The price per square meter to buy an apartment in the city centre ranges from $3107.83 to $4237.95, averaging $3861.25.
  • Buying Price per Square Meter (Outside Centre)Outside the centre, the price per square meter ranges from $793.91 to $6592.28, averaging $3168.39.
Utilities
  • Basic Utilities (Electricity, Heating, Water, etc.)Basic utilities for an 85m2 apartment cost between $64.66 and $177.15, averaging $120.9.
  • InternetInternet services range from $56.51 to $63.57, with an average cost of $60.04.

Cost of Living Data

The following pricing data has been gathered from 23 user contributions, as of the most recent update in November, 2024.
Restaurants
Avg / Range
Meal, Inexpensive Restaurant
$21.19
Meal for 2 People, Mid-range Restaurant, Three-course
$127.14
McMeal at McDonalds (or Equivalent Combo Meal)
$19.18
Domestic Beer (0.5 liter draught)
$8.48
Imported Beer (0.33 liter bottle)
$7.77
Coke/Pepsi (0.33 liter bottle)
$2.97
Water (0.33 liter bottle)
$2.41
Cappuccino (regular)
$6.00
Markets
Avg / Range
Milk (regular), (1 liter)
$2.08
Loaf of Fresh White Bread (500g)
$3.63
Eggs (regular) (12)
$4.70
Local Cheese (1kg)
$11.58
Water (1.5 liter bottle)
$2.47
Bottle of Wine (Mid-Range)
$10.95
Domestic Beer (0.5 liter bottle)
$2.26
Imported Beer (0.33 liter bottle)
$2.83
Cigarettes 20 Pack (Marlboro)
$9.89
Chicken Fillets (1kg)
$12.71
Apples (1kg)
$2.12
Oranges (1kg)
$2.83
Potato (1kg)
$2.54
Lettuce (1 head)
$2.26
Rice (white), (1kg)
$1.70
Tomato (1kg)
$1.70
Banana (1kg)
$2.54
Onion (1kg)
$3.11
Transportation
Avg / Range
One-way Ticket (Local Transport)
$0.00
Gasoline (1 liter)
$1.89
Taxi Start (Normal Tariff)
$11.30
Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car)
$50,855.42
Rent Per Month
Avg / Range
Apartment (1 bedroom) in City Centre
$1,017.11
Apartment (1 bedroom) Outside of Centre
$776.96
Apartment (3 bedrooms) in City Centre
$1,765.81
Apartment (3 bedrooms) Outside of Centre
$1,377.33
Utilities (Monthly)
Avg / Range
Basic (Electricity, Heating, Cooling, Water, Garbage) for 85m2 Apartment
$120.90
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL)
$60.04
Mobile Phone Monthly Plan with Calls and 10GB+ Data
$36.73
Sports And Leisure
Avg / Range
Fitness Club, Monthly Fee for 1 Adult
$49.16
Tennis Court Rent (1 Hour on Weekend)
$14.13
Cinema, International Release, 1 Seat
$14.83
Clothing And Shoes
Avg / Range
1 Pair of Jeans (Levis 501 Or Similar)
$138.86
1 Summer Dress in a Chain Store (Zara, H&M, ...)
$49.44
1 Pair of Nike Running Shoes (Mid-Range)
$143.62
1 Pair of Men Leather Business Shoes
$197.77
Buy Apartment Price
Avg / Range
Price per Square Meter to Buy Apartment in City Centre
$3,861.25
Price per Square Meter to Buy Apartment Outside of Centre
$3,168.39
Salaries And Financing
Avg / Range
Average Monthly Net Salary (After Tax)
$2,118.98
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