Cost of Living Comparison Between Canada and Iceland Cost of Living Comparison Between Canada and Iceland

Name: Iceland
Address: IS

🙂 Solo nomad: Canada is 37.5% cheaper than Iceland without rent, and 36.3% cheaper with rent.

🙂 Family of 3: Canada is 38.3% cheaper than Iceland without rent, and 32.9% cheaper with rent.

Meal at Budget Restaurant

$18.65 CA$25.39

$26.87 ISK 3,353

-30.59%

Three-Course Dinner for Two, Mid-Range

$74.3 CA$101

$126 ISK 15.7K

-41.14%

Fast Food Meal (McDonalds, etc)

$11.02 CA$15

$20.34 ISK 2,538

-45.82%

Cappuccino

$3.75 CA$5.11

$6.09 ISK 760

-38.42%

Coke/Pepsi/Fanta/Sprite (0.33 liter bottle)

$2.17 CA$2.95

$3.36 ISK 419

-35.42%

Water (0.33 liter bottle)

$1.68 CA$2.29

$2.7 ISK 337

-37.78%

Local Beer (0.5 liter draught)

$5.83 CA$7.94

$12.07 ISK 1,506

-51.70%

Imported Beer (0.33 liter bottle)

$5.74 CA$7.81

$10.47 ISK 1,306

-45.18%

Milk (1 liter)

$2.24 CA$3.04

$1.95 ISK 243

14.87%

White Bread (500g)

$2.66 CA$3.62

$4.07 ISK 508

-34.64%

Rice (white) (1kg)

$3.6 CA$4.9

$3.48 ISK 434

3.45%

Eggs

$3.53 CA$4.8

$6.36 ISK 793

-44.50%

Local Cheese (1kg)

$11.32 CA$15.41

$18.36 ISK 2,290

-38.34%

Chicken Fillets (1kg)

$12.46 CA$16.96

$24.71 ISK 3,082

-49.58%

Beef Round Steak (1kg)

$15.28 CA$20.8

$42.1 ISK 5,251

-63.71%

Apples (1kg)

$4.17 CA$5.68

$3.18 ISK 397

31.13%

Banana (1kg)

$1.5 CA$2.05

$2.49 ISK 310

-39.76%

Oranges (1kg)

$4 CA$5.45

$2.92 ISK 365

36.99%

Tomato (1kg)

$4.07 CA$5.54

$4.86 ISK 606

-16.26%

Potato (1kg)

$2.78 CA$3.78

$3.68 ISK 460

-24.46%

Onion (1kg)

$2.73 CA$3.72

$2.26 ISK 281

20.80%

Lettuce (1 head)

$2.63 CA$3.58

$3.17 ISK 396

-17.03%

Water (1.5 liter bottle)

$1.82 CA$2.48

$2.2 ISK 274

-17.27%

Cigarettes 20 Pack (Marlboro, Camel)

$14.61 CA$19.88

$14.05 ISK 1,753

3.99%

Wine (Bottle)

$13.08 CA$17.8

$24.13 ISK 3,010

-45.79%

Local Beer (0.5 liter bottle)

$3.01 CA$4.1

$3.63 ISK 453

-17.08%

Imported Beer (0.33 liter bottle)

$3.34 CA$4.55

$3.21 ISK 401

4.05%

One-way Ticket (Public Transport)

$2.56 CA$3.49

$5.24 ISK 653

-51.15%

Public Transport Monthly Pass (Regular Price)

$78.4 CA$107

$84.3 ISK 10.5K

-7.06%

Taxi Start (Normal Tariff)

$3.55 CA$4.83

$6.26 ISK 781

-43.29%

Taxi (Normal Tariff) (1km)

$1.55 CA$2.11

$2.37 ISK 296

-34.60%

Taxi 1hour Waiting (Normal Tariff)

$28.91 CA$39.35

$86.5 ISK 10.8K

-66.59%

Gasoline (1 liter)

$1.16 CA$1.58

$2.46 ISK 307

-52.85%

Midsize Hatchback 1.4l (Volkswagen Golf, Toyota Prius, Honda Civic, etc)

$24.6K CA$33.5K

$47.9K ISK 6M

-48.64%

Compact Sedan 1.6l (Toyota Corolla, Mazda3, Kia K4, Hyundai Elantra, etc)

$20.9K CA$28.5K

$54K ISK 6.7M

-61.27%

Utilities for 2 People in 2-bedroom Apartment (Heating, Electricity, Gas, Water, Garbage) (85m2)

$155 CA$211

$90.4 ISK 11.3K

71.85%

SIM Card Monthly Plan (Calls and 10GB+ Data)

$45.2 CA$61.5

$27.54 ISK 3,435

64.12%

Internet (50+ Mbps, Unlimited Data)

$62.4 CA$84.9

$85.9 ISK 10.7K

-27.33%

Gym Membership (Monthly)

$42.82 CA$58.3

$81.8 ISK 10.2K

-47.65%

Tennis Court (1 Hour on Weekend)

$17.72 CA$24.11

$37.74 ISK 4,708

-53.05%

Cinema Ticket

$11.25 CA$15.31

$17.35 ISK 2,164

-35.16%

Preschool or Kindergarten, Full Day, Private, 1 Child (Monthly)

$804 CA$1,094

$348 ISK 43.4K

131.24%

International Primary School, 1 Child (Yearly)

$12K CA$16.4K

$29.5K ISK 3.7M

-59.20%

Jeans (Levis 501 Or Similar)

$56.7 CA$77.2

$137 ISK 17.1K

-58.60%

Summer Dress (H&M, Zara, etc)

$41.61 CA$56.6

$64.2 ISK 8,005

-35.16%

Sport Shoes (Adidas, Nike)

$90.2 CA$123

$171 ISK 21.4K

-47.37%

Men's Leather Business Shoes

$108 CA$147

$254 ISK 31.6K

-57.41%

1-bedroom Apartment, City Center (Monthly)

$1,364 CA$1,857

$2,216 ISK 276.4K

-38.43%

1-bedroom Apartment, Outside City Center (Monthly)

$1,208 CA$1,645

$2,002 ISK 249.8K

-39.65%

3-bedroom Apartment, City Center (Monthly)

$2,179 CA$2,966

$3,148 ISK 392.7K

-30.78%

3-bedroom Apartment, Outside City Center (Monthly)

$1,835 CA$2,497

$2,722 ISK 339.5K

-32.59%

Buy Apartment in City Center (m2)

$6,152 CA$8,374

$7,550 ISK 941.9K

-18.51%

Buy Apartment Outside City Center (m2)

$4,409 CA$6,001

$6,306 ISK 786.7K

-30.09%

Average Monthly Net Salary (After Tax)

$2,867 CA$3,903

$4,591 ISK 572.7K

-37.55%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.33

9.88

-35.93%

Citycost data is based on AI and user input – minor inaccuracies may occur.

Last update for Canada: October 28, 2025

Last update for Iceland: October 28, 2025

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