Cost Of Living in Faroe Islands

Average monthly spending for singles, couples, and families in Faroe Islands

Whether you're living in Faroe Islands or planning to move there, it is very important to know the cost of living and the prices of things. Here we list the average spending for the three main population groups.

Average Spending Per Month
All-inclusive

Single
21,000 DKK
average per month
5,400 DKK
Range
46,000 DKK

Couple
40,000 DKK
average per month
8,100 DKK
Range
64,000 DKK

Family
64,000 DKK
average per month
19,000 DKK
Range
97,000 DKK

Student
16,000 DKK
average per month
2,700 DKK
Range
35,000 DKK
The figures displayed here are inclusive of everything: housing, travel, groceries, healthcare, etc.

Singles

The average monthly expenses for a single person living in Faroe Islands is 21,000 DKK. Expenses can range from 5,400 DKK at the minimum level to 46,000 DKK at the highest end.

Couples

The average monthly spending of couples in Faroe Islands is 40,000 DKK. Expenditure can range from 8,100 DKK to 64,000 DKK per month.

Families

The average cost of living for families in Faroe Islands is 64,000 DKK per month. Families spend anywhere from 19,000 DKK to 97,000 DKK.

Students

The average monthly expenditure for students in Faroe Islands is 16,000 DKK. Students spend from 2,700 DKK to 35,000 DKK per month.


Spending behavior can change drastically from one person to another. It is best to consider the minimum, average, and maximum spending together.

Prices and cost of goods and services in Faroe Islands

Dining, food, and beverages costs


Large bottle
of water

5.4 DKK

5.4 DKK
5.4 DKK

Fast food
combo meal

54 DKK

38 DKK
90 DKK

Restaurant
meal for one

180 DKK

140 DKK
220 DKK

Fine dining
meal for one

450 DKK

300 DKK
540 DKK

Soda
Soft Drink

4.5 DKK

4.5 DKK
4.5 DKK

Cappuccino
or latte

36 DKK

22 DKK
54 DKK

Grocery and market costs


Milk
large bottle

27 DKK

22 DKK
30 DKK

Loaf of
bread

3.8 DKK

3.4 DKK
4.5 DKK

12
eggs

27 DKK

22 DKK
34 DKK

Fresh whole
chicken

62 DKK

49 DKK
77 DKK

Beef
1 kg or 1 lb

71 DKK

60 DKK
90 DKK

Rice
1 kg or 1 lb

38 DKK

34 DKK
45 DKK

Tomato
1 kg or 1 lb

18 DKK

15 DKK
22 DKK

Apples
1 kg or 1 lb

19 DKK

17 DKK
21 DKK

Banana
1 kg or 1 lb

19 DKK

16 DKK
21 DKK

Commute, travel, and transportation costs


20 minutes
taxi ride

27 DKK

22 DKK
54 DKK

Average car
full tank

180 DKK

130 DKK
360 DKK

Average car
1-day rental

180 DKK

130 DKK
270 DKK

Average car
price

130,000 DKK

67,000 DKK
180,000 DKK

Bus ticket
one way

6.7 DKK

4.5 DKK
13 DKK

Car
Service

270 DKK

180 DKK
540 DKK

Utility cost (monthly)


Electricity
and water bill
Single

1,300 DKK

320 DKK
2,700 DKK

Electricity
and water bill
Couple

1,600 DKK

400 DKK
3,200 DKK

Electricity
and water bill
Family

2,600 DKK

560 DKK
2,900 DKK

Internet
and cable

270 DKK

130 DKK
360 DKK

Mobile phone
charges

180 DKK

110 DKK
540 DKK

Leisure and activities costs


Movie
ticket

90 DKK

67 DKK
130 DKK

One month gym
membership

270 DKK

210 DKK
540 DKK

Cloths and accessories costs


Pair of jeans
or pants

220 DKK

160 DKK
340 DKK

Woman
dress

210 DKK

150 DKK
670 DKK

Woman
shoes

190 DKK

140 DKK
450 DKK

Men
shoes

150 DKK

120 DKK
300 DKK

Men
suit

170 DKK

130 DKK
900 DKK

Regular
t-shirt

90 DKK

67 DKK
270 DKK

Housing costs / monthly rent


Studio
apartment

3,400 DKK

2,200 DKK
9,000 DKK

1-bedroom
apartment

5,400 DKK

3,400 DKK
13,000 DKK

2-bedroom
apartment

6,700 DKK

4,500 DKK
18,000 DKK

Housing costs / Buying


Studio
apartment

670,000 DKK

450,000 DKK
1,300,000 DKK

1-bedroom
apartment

900,000 DKK

540,000 DKK
3,400,000 DKK

2-bedroom
apartment

2,700,000 DKK

900,000 DKK
5,400,000 DKK

Furniture Costs


King Size
Bed

3,400 DKK

2,700 DKK
4,500 DKK

Double
Bed

2,700 DKK

1,800 DKK
3,400 DKK

Single
Bed

2,100 DKK

1,600 DKK
2,700 DKK

Living
Room

3,800 DKK

3,000 DKK
13,000 DKK

Dining
Table

1,800 DKK

1,300 DKK
3,400 DKK

Sofa
or Couch

2,400 DKK

1,800 DKK
5,400 DKK

Electronics Costs


TV
Set

2,700 DKK

1,800 DKK
5,400 DKK

Fridge
or Freezer

2,400 DKK

1,600 DKK
3,400 DKK

Washing
Machine

3,000 DKK

2,100 DKK
5,400 DKK

Stove
or Cooker

2,400 DKK

1,900 DKK
3,400 DKK

Mobile
Phone

2,700 DKK

2,200 DKK
3,800 DKK

Laptop
or Computer

3,000 DKK

2,400 DKK
5,400 DKK

How do people spend their money in Faroe Islands?

We asked thousands of people about their spending habits and expenditure breaks. Below are their answers.

The percentage figures in this section are percentages of total spending not income. If you would like to see the percentage of expenses as related to income or salary, see additional sections below.


Single
Spending habits, consumption analysis, and expenditure patterns for a single person living in Faroe Islands

Housing36%

36% of total expenses on average (27% to 42%)

LOW1,900 DKK
AVERAGE7,700 DKK
HIGH16,000 DKK
Per Month

Utilities, Electricity, Water6%

6% of total expenses on average (2% to 9%)

LOW320 DKK
AVERAGE1,300 DKK
HIGH2,700 DKK
Per Month

Transport, Fuel8%

8% of total expenses on average (3% to 11%)

LOW430 DKK
AVERAGE1,700 DKK
HIGH3,700 DKK
Per Month

Food and Groceries16%

16% of total expenses on average (9% to 22%)

LOW860 DKK
AVERAGE3,400 DKK
HIGH7,300 DKK
Per Month

Healthcare9%

9% of total expenses on average (5% to 14%)

LOW480 DKK
AVERAGE1,900 DKK
HIGH4,100 DKK
Per Month

Leisure, Shopping5%

5% of total expenses on average (2% to 9%)

LOW270 DKK
AVERAGE1,100 DKK
HIGH2,300 DKK
Per Month

Education2%

2% of total expenses on average (1% to 4%)

LOW110 DKK
AVERAGE430 DKK
HIGH910 DKK
Per Month

Other Expenses18%

18% of total expenses on average (15% to 21%)

LOW970 DKK
AVERAGE3,900 DKK
HIGH8,200 DKK
Per Month


Couple
Average monthly living expenditure breaks and spending patterns for couples in Faroe Islands

Housing33%

33% of total expenses on average (30% to 43%)

LOW2,700 DKK
AVERAGE13,000 DKK
HIGH21,000 DKK
Per Month

Utilities, Electricity, Water5%

5% of total expenses on average (2% to 8%)

LOW400 DKK
AVERAGE1,600 DKK
HIGH3,200 DKK
Per Month

Transport, Fuel12%

12% of total expenses on average (7% to 15%)

LOW970 DKK
AVERAGE4,800 DKK
HIGH7,700 DKK
Per Month

Food and Groceries14%

14% of total expenses on average (7% to 19%)

LOW1,100 DKK
AVERAGE5,600 DKK
HIGH9,000 DKK
Per Month

Healthcare11%

11% of total expenses on average (5% to 14%)

LOW890 DKK
AVERAGE4,400 DKK
HIGH7,100 DKK
Per Month

Leisure, Shopping6%

6% of total expenses on average (3% to 10%)

LOW480 DKK
AVERAGE2,400 DKK
HIGH3,900 DKK
Per Month

Education2%

2% of total expenses on average (1% to 4%)

LOW160 DKK
AVERAGE810 DKK
HIGH1,300 DKK
Per Month

Other Expenses17%

17% of total expenses on average (14% to 20%)

LOW1,400 DKK
AVERAGE6,800 DKK
HIGH11,000 DKK
Per Month


Family
Average monthly expenses and break out of spending for families living in Faroe Islands

Housing32%

32% of total expenses on average (27% to 38%)

LOW6,000 DKK
AVERAGE21,000 DKK
HIGH31,000 DKK
Per Month

Utilities, Electricity, Water3%

3% of total expenses on average (2% to 7%)

LOW560 DKK
AVERAGE2,600 DKK
HIGH2,900 DKK
Per Month

Transport, Fuel8%

8% of total expenses on average (5% to 10%)

LOW1,500 DKK
AVERAGE5,200 DKK
HIGH7,700 DKK
Per Month

Food and Groceries18%

18% of total expenses on average (12% to 23%)

LOW3,400 DKK
AVERAGE12,000 DKK
HIGH17,000 DKK
Per Month

Healthcare8%

8% of total expenses on average (6% to 12%)

LOW1,500 DKK
AVERAGE5,200 DKK
HIGH7,700 DKK
Per Month

Leisure, Shopping5%

5% of total expenses on average (2% to 9%)

LOW940 DKK
AVERAGE3,200 DKK
HIGH4,800 DKK
Per Month

Education14%

14% of total expenses on average (11% to 18%)

LOW2,600 DKK
AVERAGE9,000 DKK
HIGH14,000 DKK
Per Month

Other Expenses12%

12% of total expenses on average (8% to 15%)

LOW2,300 DKK
AVERAGE7,700 DKK
HIGH12,000 DKK
Per Month


Student
Cost of living and expense breaks for students in Faroe Islands

Housing24%

24% of total expenses on average (18% to 31%)

LOW640 DKK
AVERAGE3,900 DKK
HIGH8,400 DKK
Per Month

Utilities, Electricity, Water4%

4% of total expenses on average (3% to 7%)

LOW110 DKK
AVERAGE640 DKK
HIGH1,400 DKK
Per Month

Transport, Fuel7%

7% of total expenses on average (5% to 9%)

LOW190 DKK
AVERAGE1,100 DKK
HIGH2,400 DKK
Per Month

Food and Groceries20%

20% of total expenses on average (16% to 24%)

LOW540 DKK
AVERAGE3,200 DKK
HIGH7,000 DKK
Per Month

Healthcare6%

6% of total expenses on average (3% to 9%)

LOW160 DKK
AVERAGE970 DKK
HIGH2,100 DKK
Per Month

Leisure, Shopping5%

5% of total expenses on average (2% to 9%)

LOW130 DKK
AVERAGE810 DKK
HIGH1,700 DKK
Per Month

Education19%

19% of total expenses on average (17% to 24%)

LOW510 DKK
AVERAGE3,100 DKK
HIGH6,600 DKK
Per Month

Other Expenses15%

15% of total expenses on average (12% to 17%)

LOW400 DKK
AVERAGE2,400 DKK
HIGH5,200 DKK
Per Month
This section breaks down and compares expenses for all population groups: singles, couples, students, and families. If you want to see details for a specific group, please see the previous section. We asked thousands of people about their spending habits and expenditure breaks. Below are the results.

Housing Expenditure

People living in Faroe Islands typically spend from 26% to 39% of their total monthly expenditure on housing with 31% being the average. The average spend on housing is 11,000 DKK with expenditure ranging from 2,800 DKK and 19,000 DKK. This cost mainly goes for rent but it also includes other accommodation-related expenses. Housing costs are highest for families and lowest for students as expected.

Utility Bills and Payments

On average, utility expenditure like electricity, water, and gas in Faroe Islands ranges from 2% to 8% of total expenses with 5% being the the average. The average monthly cost of utilities is 1,500 DKK with 350 DKK and 2,600 DKK being the upper and lower limits.

Transportation Cost and Fuel Consumption

Fuel consumption and cost of transport depend heavily on whether you live near your work or school, but roughly speaking you would expect to spend from 770 DKK to 5,400 DKK on commuting with 3,200 DKK being the norm for most people in one month. This means that money spent on transport constitutes about 9% of total spending on average but can go as low as 5% or as high as 11%.

Cost of Food and Groceries

The average outlay on groceries in a month in Faroe Islands is 6,000 DKK. The cost of groceries can range between 1,500 DKK to 10,000 DKK. People spend on average about 17% on food and groceries with upper and lower bounds of 11% and 17% respectively.

Cost of Healthcare and Medical Services

People in Faroe Islands allocate 5% to 12% of their total monthly expenditure to healthcare including health insurance and out-of-pocket medical expenses. The average spending is around 9%. The range of medical expenses range from 760 DKK to 5,300 DKK with 3,100 DKK being the norm.

Leisure and Shopping

This category mostly contains discretionary or non-essential expenses but also some non-discretionary spending like furniture for example. The monthly expenses range from 460 DKK to 3,200 DKK with 1,900 DKK being the average. Speaking of percentages, that equates to 2% to 9% of total expenses with an average of 5% for most residents.

Cost of Education and Schooling

Spending on education can vary drastically between different people. While working singles can spend 0% on education, families and students' expenditure can reach up to 22%. On average, education constitutes 9% of the monthly expenditure with 8% and 13% being the lower and upper bounds respectively. The average reported education cost is 3,300 DKK per month with 850 DKK being the minimum spent amount and 5,600 DKK being the maximum.

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