Cost of living comparison
Italy is 12.1% cheaper than Iceland.
If you lived in Italy instead of Iceland, you would:
pay 26.6% less for restaurants
|
Iceland
|
Italy
|
||
|---|---|---|---|
| Basic meal with drink at inexpensive restaurant |
$19.40
ISK2,709
|
$16.15
€15.50
|
|
|
Fast food combo meal
McDonalds, or similar
|
$16.94
ISK2,366
|
$10.06
€9.66
|
|
| Bottle of Coca-Cola (11 fl. oz) |
$2.81
ISK393
|
$2.55
€2.45
|
|
| Bottle of water (11 fl. oz) |
$2.02
ISK282
|
$1.22
€1.17
|
|
pay 22.7% less for groceries
|
Iceland
|
Italy
|
||
|---|---|---|---|
|
Bread
1 loaf
|
$2.95
ISK413
|
$2.04
€1.96
|
|
| Local cheese (8 oz) |
$7.27
ISK1,015
|
$6.83
€6.56
|
|
| Milk (1 gallon) |
$6.01
ISK839
|
$5.53
€5.31
|
|
|
Eggs
1 dozen
|
$5.42
ISK757
|
$3.41
€3.27
|
|
| Boneless chicken breast (1 lb) |
$8.51
ISK1,188
|
$5.05
€4.85
|
|
| Apples (1 lb) |
$1.22
ISK171
|
$0.97
€0.93
|
|
| Bananas (1 lb) |
$1.03
ISK143
|
$0.85
€0.81
|
|
| Oranges (1 lb) |
$1.17
ISK164
|
$1.04
€1.00
|
|
| Tomatoes (1 lb) |
$1.87
ISK262
|
$1.31
€1.26
|
|
| Potatoes (1 lb) |
$1.23
ISK172
|
$0.76
€0.73
|
|
| Onions (1 lb) |
$0.78
ISK110
|
$0.71
€0.68
|
|
pay 25.8% less for transportation
|
Iceland
|
Italy
|
||
|---|---|---|---|
| Gasoline (1 gallon) |
$8.36
ISK1,168
|
$7.22
€6.93
|
|
| Monthly public transit pass |
$71.28
ISK9,956
|
$38.81
€37.25
|
|
| New Volkswagen Golf 1.4 (standard edition) |
$40,660.66
ISK5,679,481
|
$28,223.13
€27,090.74
|
|
| Taxi trip in downtown area (5 miles) |
$22.04
ISK3,078
|
$19.13
€18.36
|
|
pay 7.7% less for housing
|
Iceland
|
Italy
|
||
|---|---|---|---|
|
Internet connection
50 mbps or faster, cable/dsl
|
$72.17
ISK10,081
|
$28.87
€27.71
|
|
| 1-Bedroom apartment in downtown area |
$1,838.04
ISK256,737
|
$656.19
€629.86
|
|
| 1-Bedroom apartment outside city center |
$1,497.77
ISK209,209
|
$511.91
€491.37
|
|
|
Utilities for two
(700 sq ft apartment)
including electric, gas, water, heating
|
$58.01
ISK8,103
|
$150.39
€144.36
|
|
pay 77.5% more for childcare
|
Iceland
|
Italy
|
||
|---|---|---|---|
| Private preschool for 1 child, monthly |
$258.16
ISK36,060
|
$508.72
€488.31
|
|
| Middle school for 1 child, two semesters |
$5,993.99
ISK837,241
|
$9,465.55
€9,085.76
|
|
pay 41.3% less for entertainment and sports
|
Iceland
|
Italy
|
||
|---|---|---|---|
| Domestic/local beer (1 pint) |
$9.19
ISK1,283
|
$5.01
€4.81
|
|
| Cappuccino in mid-range area |
$4.65
ISK649
|
$1.69
€1.62
|
|
|
Pack of cigarettes
Marlboro or similar
|
$11.76
ISK1,642
|
$6.20
€5.95
|
|
| Monthly membership at local gym |
$61.46
ISK8,585
|
$52.12
€50.03
|
|
| Movie ticket to theater/cinema |
$14.35
ISK2,004
|
$9.39
€9.01
|
|
pay 38.0% less for clothing
|
Iceland
|
Italy
|
||
|---|---|---|---|
|
Regular jeans
Levi's brand
|
$111.23
ISK15,537
|
$78.41
€75.27
|
|
|
Regular dress
from H&M or similar store
|
$59.69
ISK8,337
|
$33.87
€32.51
|
|
|
Running shoes
Nike or Adidas
|
$148.00
ISK20,673
|
$86.07
€82.61
|
|
| Men's business shoes (leather) |
$184.49
ISK25,770
|
$115.43
€110.80
|
|
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