The Icelandic income database (iclelandicincome.is) has been updated with data for the year 2024. The website shows the development of disposable income, assets and debts of households, as well as total income by sex, broken down by education, age, region and marital status.
Among the information available on the website are:
- In 2024, combined disposable income excluding capital income for couples (married or cohabiting) aged 25-64 with 1-2 children amounted to 1,281 thousand ISK per month.
- Combined capital income for couples aged 25-64 with 1-2 children decreased in real terms in 2024.
- Combined pension fund income for couples aged 68 and older increased in 2024 and has never been higher in real terms. This increase is also evident for the pension fund income of single women and men. This applies regardless of whether the person also receives payments from the Social insurance administration or not.
- Household net worth decreased in 2024. However, it remained generally higher in the Capital region than for people living in other regions, mainly due to higher real estate values in the Capital region. Developments differed by region, as net worth decreased in the Capital region but increased in other regions.
- Total income of cohabiting men was 32% higher than that of single men, while total income of cohabiting women was 17% higher than that of single women.
About the Icelandic income database
The Icelandic nncome database was developed at the initiative of the Prime Minister’s Office, based on data from Statistics Iceland, and was first published in 2019.
Analytica created and updates the microsimulation model of disposable income underlying the results, while Metadata handles the installation of the data and web programming. Statistics Iceland is responsible for updating the database.
All amounts are expressed in 2024 price levels. Earlier figures have been updated where appropriate based on new data.