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

Name: Iceland
Address: IS

🙂 Solo nomad: Canada is 36.2% cheaper than Iceland without rent, and 35.9% cheaper with rent.

🙂 Family of 3: Canada is 40.3% cheaper than Iceland without rent, and 34.5% cheaper with rent.

Meal at Budget Restaurant

$18.70 CA$25.62

$27.05 ISK 3,319

-30.87%

Three-Course Dinner for Two, Mid-Range

$74.4 CA$102

$130 ISK 16.0K

-42.97%

Fast Food Meal (McDonalds, etc)

$11.14 CA$15.26

$20.18 ISK 2,476

-44.80%

Cappuccino

$3.75 CA$5.13

$6.04 ISK 741

-37.91%

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

$2.12 CA$2.90

$3.31 ISK 407

-35.95%

Water (0.33 liter bottle)

$1.75 CA$2.40

$2.67 ISK 328

-34.46%

Local Beer (0.5 liter draught)

$5.95 CA$8.15

$12.15 ISK 1,490

-51.03%

Imported Beer (0.33 liter bottle)

$6.07 CA$8.31

$10.26 ISK 1,258

-40.84%

Milk (1 liter)

$2.21 CA$3.03

$1.85 ISK 227

19.46%

White Bread (500g)

$2.70 CA$3.70

$4.08 ISK 501

-33.82%

Rice (white) (1kg)

$3.63 CA$4.98

$3.58 ISK 440

1.40%

Eggs

$3.57 CA$4.89

$6.57 ISK 806

-45.66%

Local Cheese (1kg)

$11.60 CA$15.89

$18.48 ISK 2,268

-37.23%

Chicken Fillets (1kg)

$12.17 CA$16.67

$24.80 ISK 3,043

-50.93%

Beef Round Steak (1kg)

$15.29 CA$20.95

$42.58 ISK 5,224

-64.09%

Apples (1kg)

$4.32 CA$5.92

$3.02 ISK 370

43.05%

Banana (1kg)

$1.50 CA$2.06

$2.43 ISK 298

-38.27%

Oranges (1kg)

$3.87 CA$5.30

$2.89 ISK 355

33.91%

Tomato (1kg)

$4.28 CA$5.86

$5.00 ISK 613

-14.40%

Potato (1kg)

$2.79 CA$3.82

$3.68 ISK 451

-24.18%

Onion (1kg)

$2.62 CA$3.59

$2.19 ISK 269

19.63%

Lettuce (1 head)

$2.63 CA$3.61

$3.10 ISK 380

-15.16%

Water (1.5 liter bottle)

$1.79 CA$2.46

$2.23 ISK 273

-19.73%

Cigarettes 20 Pack (Marlboro, Camel)

$14.95 CA$20.48

$14.49 ISK 1,778

3.17%

Wine (Bottle)

$12.91 CA$17.69

$23.38 ISK 2,869

-44.78%

Local Beer (0.5 liter bottle)

$3.03 CA$4.16

$3.58 ISK 440

-15.36%

Imported Beer (0.33 liter bottle)

$3.39 CA$4.64

$3.09 ISK 379

9.71%

One-way Ticket (Public Transport)

$2.60 CA$3.56

$5.35 ISK 656

-51.40%

Public Transport Monthly Pass (Regular Price)

$78.0 CA$107

$82.3 ISK 10.1K

-5.28%

Taxi Start (Normal Tariff)

$3.40 CA$4.65

$6.52 ISK 800

-47.85%

Taxi (Normal Tariff) (1km)

$1.55 CA$2.12

$2.28 ISK 279

-32.02%

Taxi 1hour Waiting (Normal Tariff)

$28.12 CA$38.52

$84.9 ISK 10.4K

-66.88%

Gasoline (1 liter)

$1.16 CA$1.58

$2.57 ISK 316

-54.86%

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

$25.1K CA$34.4K

$46.8K ISK 5.7M

-46.33%

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

$20.5K CA$28.0K

$53.6K ISK 6.6M

-61.79%

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

$157 CA$216

$90.2 ISK 11.1K

74.50%

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

$45.83 CA$62.8

$27.47 ISK 3,370

66.84%

Internet (50+ Mbps, Unlimited Data)

$62.4 CA$85.5

$87.5 ISK 10.7K

-28.70%

Gym Membership (Monthly)

$43.42 CA$59.5

$82.0 ISK 10.1K

-47.04%

Tennis Court (1 Hour on Weekend)

$17.87 CA$24.49

$37.43 ISK 4,592

-52.26%

Cinema Ticket

$11.55 CA$15.83

$17.29 ISK 2,122

-33.20%

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

$806 CA$1,104

$351 ISK 43.0K

129.71%

International Primary School, 1 Child (Yearly)

$12.2K CA$16.6K

$29.9K ISK 3.7M

-59.40%

Jeans (Levis 501 Or Similar)

$55.3 CA$75.8

$137 ISK 16.8K

-59.59%

Summer Dress (H&M, Zara, etc)

$42.55 CA$58.3

$64.8 ISK 7,946

-34.31%

Sport Shoes (Adidas, Nike)

$89.1 CA$122

$174 ISK 21.4K

-48.90%

Men's Leather Business Shoes

$108 CA$148

$255 ISK 31.3K

-57.61%

1-bedroom Apartment, City Center (Monthly)

$1,367 CA$1,873

$2,207 ISK 270.8K

-38.08%

1-bedroom Apartment, Outside City Center (Monthly)

$1,202 CA$1,647

$2,013 ISK 247.0K

-40.29%

3-bedroom Apartment, City Center (Monthly)

$2,177 CA$2,983

$3,123 ISK 383.2K

-30.29%

3-bedroom Apartment, Outside City Center (Monthly)

$1,891 CA$2,590

$2,712 ISK 332.8K

-30.30%

Buy Apartment in City Center (m2)

$5,050 CA$6,919

$7,651 ISK 938.7K

-33.99%

Buy Apartment Outside City Center (m2)

$4,046 CA$5,544

$6,259 ISK 767.9K

-35.35%

Average Monthly Net Salary (After Tax)

$3,008 CA$4,121

$4,671 ISK 573.1K

-35.61%

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: March 2, 2026

Last update for Iceland: March 2, 2026

City Median Internet Speeds Comparison (Updated January 2026)

The chart highlights the Precision Threshold for mobile and fixed broadband internet speeds, updated quarterly.

Digital Nomad Cost of Living Index

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

City Median Internet Speeds Comparison (Updated January 2026)

Canada

Iceland

Canada

Iceland

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