Cost of living comparison

 Italy
compared to
Iceland vs. Italy Cost of Living Summary

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.

Iceland vs. Italy Cost Breakdown

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
€15.39
$19.40
ISK2,717
Fast food combo meal
McDonalds, or similar
$10.06
€9.59
$16.94
ISK2,373
Bottle of Coca-Cola (11 fl. oz) $2.55
€2.43
$2.81
ISK394

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pay 33.1% more for groceries

 
Italy
Iceland
Bread
1 loaf
$2.04
€1.95
$2.95
ISK414
Local cheese (8 oz) $6.83
€6.51
$7.27
ISK1,017
Milk (1 gallon) $5.53
€5.27
$6.01
ISK841

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pay 39.7% more for transportation

 
Italy
Iceland
Gasoline (1 gallon) $7.22
€6.89
$8.36
ISK1,171
Monthly public transit pass $38.81
€36.99
$71.28
ISK9,983
New Volkswagen Golf 1.4 (standard edition) $28,223.13
€26,900.96
$40,660.66
ISK5,694,526

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pay 2.2 times more for housing

 
Italy
Iceland
Internet connection
50 mbps or faster, cable/dsl
$28.87
€27.52
$72.17
ISK10,108
1-Bedroom apartment in downtown area $656.19
€625.45
$1,838.04
ISK257,417
1-Bedroom apartment outside city center $511.91
€487.93
$1,497.77
ISK209,763

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pay 43.0% less for childcare

 
Italy
Iceland
Private preschool for 1 child, monthly $508.72
€484.89
$258.16
ISK36,156
Middle school for 1 child, two semesters $9,465.55
€9,022.11
$5,993.99
ISK839,459

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pay 83.8% more for entertainment and sports

 
Italy
Iceland
Domestic/local beer (1 pint) $5.01
€4.78
$9.19
ISK1,287
Cappuccino in mid-range area $1.69
€1.61
$4.65
ISK651
Pack of cigarettes
Marlboro or similar
$6.20
€5.91
$11.76
ISK1,646

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pay 62.5% more for clothing

 
Italy
Iceland
Regular jeans
Levi's brand
$78.41
€74.74
$111.23
ISK15,578
Regular dress
from H&M or similar store
$33.87
€32.28
$59.69
ISK8,359
Running shoes
Nike or Adidas
$86.07
€82.03
$148.00
ISK20,727

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The statistics used to build this comparison are calculated using data from users just like you. We average the price of thousands of data points entered by users across the world. Learn more about our data sources. Page last updated: February 2025
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