Cost of living comparison
Iceland is 47.5% more expensive than Italy overall.
- Restaurants
-
pay 41.1% more in Iceland
- Groceries
-
pay 33.1% more in Iceland
- Transportation
-
pay 39.7% more in Iceland
- Housing
-
pay 2.2 times more in Iceland
- Childcare
-
pay 43.0% less in Iceland
- Entertainment and Sports
-
pay 83.8% more in Iceland
- Clothing
-
pay 62.5% more in Iceland
The cost of housing, entertainment and sports, clothing, restaurants, transportation, and groceries in Iceland are more expensive than in Italy. Notably, housing and entertainment and sports are significantly more expensive in Iceland.
If you lived in Iceland instead of Italy, you would:
pay 41.1% more for restaurants
|
Italy
|
Iceland
|
||
|---|---|---|---|
| Basic meal with drink at inexpensive restaurant |
$16.15
€14.20
|
$19.40
ISK2,475
|
|
|
Fast food combo meal
McDonalds, or similar
|
$10.06
€8.85
|
$16.94
ISK2,162
|
|
| Bottle of Coca-Cola (11 fl. oz) |
$2.55
€2.24
|
$2.81
ISK359
|
|
| Bottle of water (11 fl. oz) |
$1.22
€1.07
|
$2.02
ISK258
|
|
pay 33.1% more for groceries
|
Italy
|
Iceland
|
||
|---|---|---|---|
|
Bread
1 loaf
|
$2.04
€1.80
|
$2.95
ISK377
|
|
| Local cheese (8 oz) |
$6.83
€6.01
|
$7.27
ISK927
|
|
| Milk (1 gallon) |
$5.53
€4.86
|
$6.01
ISK766
|
|
|
Eggs
1 dozen
|
$3.41
€2.99
|
$5.42
ISK692
|
|
| Boneless chicken breast (1 lb) |
$5.05
€4.44
|
$8.51
ISK1,086
|
|
| Apples (1 lb) |
$0.97
€0.85
|
$1.22
ISK156
|
|
| Bananas (1 lb) |
$0.85
€0.75
|
$1.03
ISK131
|
|
| Oranges (1 lb) |
$1.04
€0.91
|
$1.17
ISK149
|
|
| Tomatoes (1 lb) |
$1.31
€1.15
|
$1.87
ISK239
|
|
| Potatoes (1 lb) |
$0.76
€0.67
|
$1.23
ISK158
|
|
| Onions (1 lb) |
$0.71
€0.62
|
$0.78
ISK100
|
|
pay 39.7% more for transportation
|
Italy
|
Iceland
|
||
|---|---|---|---|
| Gasoline (1 gallon) |
$7.22
€6.35
|
$8.36
ISK1,067
|
|
| Monthly public transit pass |
$38.81
€34.13
|
$71.28
ISK9,096
|
|
| New Volkswagen Golf 1.4 (standard edition) |
$28,223.13
€24,817.19
|
$40,660.66
ISK5,188,707
|
|
| Taxi trip in downtown area (5 miles) |
$19.13
€16.82
|
$22.04
ISK2,812
|
|
pay 2.2 times more for housing
|
Italy
|
Iceland
|
||
|---|---|---|---|
|
Internet connection
50 mbps or faster, cable/dsl
|
$28.87
€25.39
|
$72.17
ISK9,210
|
|
| 1-Bedroom apartment in downtown area |
$656.19
€577.00
|
$1,838.04
ISK234,552
|
|
| 1-Bedroom apartment outside city center |
$511.91
€450.14
|
$1,497.77
ISK191,130
|
|
|
Utilities for two
(700 sq ft apartment)
including electric, gas, water, heating
|
$150.39
€132.24
|
$58.01
ISK7,403
|
|
pay 43.0% less for childcare
|
Italy
|
Iceland
|
||
|---|---|---|---|
| Private preschool for 1 child, monthly |
$508.72
€447.33
|
$258.16
ISK32,944
|
|
| Middle school for 1 child, two semesters |
$9,465.55
€8,323.25
|
$5,993.99
ISK764,894
|
|
pay 83.8% more for entertainment and sports
|
Italy
|
Iceland
|
||
|---|---|---|---|
| Domestic/local beer (1 pint) |
$5.01
€4.41
|
$9.19
ISK1,172
|
|
| Cappuccino in mid-range area |
$1.69
€1.48
|
$4.65
ISK593
|
|
|
Pack of cigarettes
Marlboro or similar
|
$6.20
€5.45
|
$11.76
ISK1,500
|
|
| Monthly membership at local gym |
$52.12
€45.83
|
$61.46
ISK7,843
|
|
| Movie ticket to theater/cinema |
$9.39
€8.26
|
$14.35
ISK1,831
|
|
pay 62.5% more for clothing
|
Italy
|
Iceland
|
||
|---|---|---|---|
|
Regular jeans
Levi's brand
|
$78.41
€68.95
|
$111.23
ISK14,194
|
|
|
Regular dress
from H&M or similar store
|
$33.87
€29.78
|
$59.69
ISK7,617
|
|
|
Running shoes
Nike or Adidas
|
$86.07
€75.68
|
$148.00
ISK18,886
|
|
| Men's business shoes (leather) |
$115.43
€101.50
|
$184.49
ISK23,543
|
|
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