The cost of living in Iceland is considered high, particularly in the capital city of Reykjavik. Goods and services tend to be expensive due to the country's remote location and the cost of importing many items.

Iceland has a subarctic oceanic climate in the south and a tundra climate in the north. The weather is characterized by cold winters and cool summers, with temperatures often moderated by the North Atlantic Current. Precipitation is more common in the southern part of the island, and the weather can change rapidly, with strong winds and storms not uncommon.

The educational system in Iceland is known for its high quality and is designed to cater to the needs of all children. Education is compulsory and free for children between the ages of 6 and 16. The system is divided into four levels: playschool, compulsory, upper-secondary, and higher education. Playschool, or leikskóli, is non-compulsory preschool education for children up to the age of six. Compulsory education, or grunnskóli, is from ages 6 to 16 and is similar to elementary and middle school, consisting of 10 grades. After completing compulsory education, students can attend upper-secondary school, or framhaldsskóli, which is similar to high school in other countries and typically lasts four years. Upper-secondary education prepares students for either vocational professions or higher education. Students graduate with a stúdentspróf, which is equivalent to a high school diploma and is required for university admission. The Icelandic educational system emphasizes egalitarianism and inclusivity, with special support for students with disabilities. The curriculum focuses on preparing students for active participation in a democratic society, with an emphasis on creativity, critical thinking, and independence. The school year in Iceland typically starts in late August or early September and ends in May or June.

The healthcare system in Iceland is predominantly public, funded through taxes and administered by the Ministry of Welfare. It is known for providing high-quality healthcare services to its residents. The system is universal, meaning all legal residents have access to healthcare services, with a focus on preventive care and general well-being. Private healthcare exists but is less common, mainly offering specialized services not covered by the public system. The cost of public healthcare is relatively low due to government subsidies, while private healthcare costs can be higher and are usually covered by private insurance or out-of-pocket payments. Expats and digital nomads can access public healthcare once they become legal residents, which typically involves living in Iceland for six months and registering with the National Registry.