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

Name: Iceland
Address: IS

🙂 Solo nomad: Canada is 35.2% cheaper than Iceland without rent, and 37.5% cheaper with rent.

🙂 Family of 3: Canada is 37.2% cheaper than Iceland without rent, and 34% cheaper with rent.

Meal at Budget Restaurant

$18.38 CA$25.54

$26.42 ISK 3,328

-30.43%

Three-Course Dinner for Two, Mid-Range

$72.8 CA$101

$128 ISK 16.1K

-42.99%

Fast Food Meal (McDonalds, etc)

$10.87 CA$15.12

$19.96 ISK 2,514

-45.54%

Cappuccino

$3.89 CA$5.40

$5.99 ISK 755

-35.06%

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

$2.17 CA$3.02

$3.32 ISK 418

-34.64%

Water (0.33 liter bottle)

$1.69 CA$2.35

$2.62 ISK 330

-35.50%

Local Beer (0.5 liter draught)

$5.73 CA$7.97

$12.09 ISK 1,523

-52.61%

Imported Beer (0.33 liter bottle)

$6.03 CA$8.38

$10.65 ISK 1,341

-43.38%

Milk (1 liter)

$2.22 CA$3.08

$1.95 ISK 246

13.85%

White Bread (500g)

$2.80 CA$3.89

$4.21 ISK 531

-33.49%

Rice (white) (1kg)

$3.72 CA$5.16

$3.59 ISK 452

3.62%

Eggs

$3.57 CA$4.96

$6.41 ISK 808

-44.31%

Local Cheese (1kg)

$11.27 CA$15.67

$18.74 ISK 2,360

-39.86%

Chicken Fillets (1kg)

$12.09 CA$16.81

$23.89 ISK 3,010

-49.39%

Beef Round Steak (1kg)

$15.16 CA$21.07

$42.05 ISK 5,298

-63.95%

Apples (1kg)

$4.28 CA$5.95

$3.07 ISK 387

39.41%

Banana (1kg)

$1.49 CA$2.07

$2.50 ISK 315

-40.40%

Oranges (1kg)

$3.83 CA$5.32

$2.89 ISK 364

32.53%

Tomato (1kg)

$4.12 CA$5.73

$4.96 ISK 625

-16.94%

Potato (1kg)

$2.65 CA$3.69

$3.51 ISK 442

-24.50%

Onion (1kg)

$2.69 CA$3.74

$2.28 ISK 287

17.98%

Lettuce (1 head)

$2.62 CA$3.64

$3.09 ISK 390

-15.21%

Water (1.5 liter bottle)

$1.81 CA$2.52

$2.17 ISK 274

-16.59%

Cigarettes 20 Pack (Marlboro, Camel)

$14.65 CA$20.36

$14.28 ISK 1,799

2.59%

Wine (Bottle)

$13.04 CA$18.13

$23.25 ISK 2,929

-43.91%

Local Beer (0.5 liter bottle)

$3.01 CA$4.18

$3.72 ISK 468

-19.09%

Imported Beer (0.33 liter bottle)

$3.41 CA$4.74

$3.20 ISK 404

6.56%

One-way Ticket (Public Transport)

$2.59 CA$3.61

$5.29 ISK 666

-51.04%

Public Transport Monthly Pass (Regular Price)

$75.5 CA$105

$84.2 ISK 10.6K

-10.34%

Taxi Start (Normal Tariff)

$3.52 CA$4.89

$6.39 ISK 805

-44.91%

Taxi (Normal Tariff) (1km)

$1.53 CA$2.12

$2.38 ISK 300

-35.71%

Taxi 1hour Waiting (Normal Tariff)

$29.01 CA$40.33

$84.9 ISK 10.7K

-65.82%

Gasoline (1 liter)

$1.15 CA$1.60

$2.54 ISK 320

-54.72%

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

$24.6K CA$34.1K

$47.1K ISK 5.9M

-47.85%

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

$20.9K CA$29.0K

$54.5K ISK 6.9M

-61.68%

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

$157 CA$219

$90.6 ISK 11.4K

73.66%

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

$46.09 CA$64.1

$27.40 ISK 3,451

68.21%

Internet (50+ Mbps, Unlimited Data)

$62.3 CA$86.6

$88.2 ISK 11.1K

-29.35%

Gym Membership (Monthly)

$42.85 CA$59.6

$82.6 ISK 10.4K

-48.12%

Tennis Court (1 Hour on Weekend)

$18.20 CA$25.30

$37.13 ISK 4,677

-50.98%

Cinema Ticket

$11.63 CA$16.16

$17.81 ISK 2,244

-34.70%

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

$798 CA$1,110

$347 ISK 43.7K

129.86%

International Primary School, 1 Child (Yearly)

$11.9K CA$16.5K

$29.7K ISK 3.7M

-60.05%

Jeans (Levis 501 Or Similar)

$55.5 CA$77.2

$138 ISK 17.4K

-59.71%

Summer Dress (H&M, Zara, etc)

$42.29 CA$58.8

$62.7 ISK 7,898

-32.55%

Sport Shoes (Adidas, Nike)

$90.0 CA$125

$175 ISK 22.0K

-48.51%

Men's Leather Business Shoes

$106 CA$148

$253 ISK 31.9K

-57.99%

1-bedroom Apartment, City Center (Monthly)

$1,346 CA$1,871

$2,235 ISK 281.6K

-39.79%

1-bedroom Apartment, Outside City Center (Monthly)

$1,199 CA$1,667

$1,977 ISK 249.1K

-39.36%

3-bedroom Apartment, City Center (Monthly)

$2,170 CA$3,016

$3,150 ISK 396.8K

-31.10%

3-bedroom Apartment, Outside City Center (Monthly)

$1,825 CA$2,537

$2,737 ISK 344.7K

-33.31%

Buy Apartment in City Center (m2)

$4,916 CA$6,833

$7,399 ISK 932.0K

-33.56%

Buy Apartment Outside City Center (m2)

$3,953 CA$5,494

$6,095 ISK 767.8K

-35.15%

Average Monthly Net Salary (After Tax)

$2,974 CA$4,134

$4,487 ISK 565.2K

-33.72%

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: January 11, 2026

Last update for Iceland: January 13, 2026

Digital Nomad Cost of Living Index

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

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