Cost of living comparison
Iceland is 47.5% more expensive than Italy.
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
€15.32
|
$19.40
ISK2,670
|
|
|
Fast food combo meal
McDonalds, or similar
|
$10.06
€9.54
|
$16.94
ISK2,332
|
|
| Bottle of Coca-Cola (11 fl. oz) |
$2.55
€2.42
|
$2.81
ISK387
|
|
| Bottle of water (11 fl. oz) |
$1.22
€1.16
|
$2.02
ISK278
|
|
pay 33.1% more for groceries
|
Italy
|
Iceland
|
||
|---|---|---|---|
|
Bread
1 loaf
|
$2.04
€1.94
|
$2.95
ISK407
|
|
| Local cheese (8 oz) |
$6.83
€6.48
|
$7.27
ISK1,000
|
|
| Milk (1 gallon) |
$5.53
€5.25
|
$6.01
ISK827
|
|
|
Eggs
1 dozen
|
$3.41
€3.23
|
$5.42
ISK746
|
|
| Boneless chicken breast (1 lb) |
$5.05
€4.79
|
$8.51
ISK1,171
|
|
| Apples (1 lb) |
$0.97
€0.92
|
$1.22
ISK168
|
|
| Bananas (1 lb) |
$0.85
€0.80
|
$1.03
ISK141
|
|
| Oranges (1 lb) |
$1.04
€0.99
|
$1.17
ISK161
|
|
| Tomatoes (1 lb) |
$1.31
€1.24
|
$1.87
ISK258
|
|
| Potatoes (1 lb) |
$0.76
€0.72
|
$1.23
ISK170
|
|
| Onions (1 lb) |
$0.71
€0.67
|
$0.78
ISK108
|
|
pay 39.7% more for transportation
|
Italy
|
Iceland
|
||
|---|---|---|---|
| Gasoline (1 gallon) |
$7.22
€6.85
|
$8.36
ISK1,151
|
|
| Monthly public transit pass |
$38.81
€36.80
|
$71.28
ISK9,812
|
|
| New Volkswagen Golf 1.4 (standard edition) |
$28,223.13
€26,765.75
|
$40,660.66
ISK5,596,940
|
|
| Taxi trip in downtown area (5 miles) |
$19.13
€18.14
|
$22.04
ISK3,033
|
|
pay 2.2 times more for housing
|
Italy
|
Iceland
|
||
|---|---|---|---|
|
Internet connection
50 mbps or faster, cable/dsl
|
$28.87
€27.38
|
$72.17
ISK9,935
|
|
| 1-Bedroom apartment in downtown area |
$656.19
€622.30
|
$1,838.04
ISK253,006
|
|
| 1-Bedroom apartment outside city center |
$511.91
€485.48
|
$1,497.77
ISK206,168
|
|
|
Utilities for two
(700 sq ft apartment)
including electric, gas, water, heating
|
$150.39
€142.63
|
$58.01
ISK7,986
|
|
pay 43.0% less for childcare
|
Italy
|
Iceland
|
||
|---|---|---|---|
| Private preschool for 1 child, monthly |
$508.72
€482.45
|
$258.16
ISK35,536
|
|
| Middle school for 1 child, two semesters |
$9,465.55
€8,976.76
|
$5,993.99
ISK825,073
|
|
pay 83.8% more for entertainment and sports
|
Italy
|
Iceland
|
||
|---|---|---|---|
| Domestic/local beer (1 pint) |
$5.01
€4.75
|
$9.19
ISK1,265
|
|
| Cappuccino in mid-range area |
$1.69
€1.60
|
$4.65
ISK640
|
|
|
Pack of cigarettes
Marlboro or similar
|
$6.20
€5.88
|
$11.76
ISK1,618
|
|
| Monthly membership at local gym |
$52.12
€49.43
|
$61.46
ISK8,460
|
|
| Movie ticket to theater/cinema |
$9.39
€8.91
|
$14.35
ISK1,975
|
|
pay 62.5% more for clothing
|
Italy
|
Iceland
|
||
|---|---|---|---|
|
Regular jeans
Levi's brand
|
$78.41
€74.36
|
$111.23
ISK15,311
|
|
|
Regular dress
from H&M or similar store
|
$33.87
€32.12
|
$59.69
ISK8,216
|
|
|
Running shoes
Nike or Adidas
|
$86.07
€81.62
|
$148.00
ISK20,372
|
|
| Men's business shoes (leather) |
$115.43
€109.47
|
$184.49
ISK25,396
|
|
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