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% cheaper than Iceland without rent, and 35.4% cheaper with rent.

🙂 Family of 3: Canada is 36% cheaper than Iceland without rent, and 34.1% cheaper with rent.

Meal at Budget Restaurant

$18.25 CA$25.01

$26.93 ISK 3,288

-32.23%

Three-Course Dinner for Two, Mid-Range

$72.9 CA$99.8

$127 ISK 15.5K

-42.49%

Fast Food Meal (McDonalds, etc)

$11.06 CA$15.16

$20.36 ISK 2,486

-45.68%

Cappuccino

$3.72 CA$5.10

$5.84 ISK 713

-36.30%

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

$2.17 CA$2.97

$3.29 ISK 402

-34.04%

Water (0.33 liter bottle)

$1.67 CA$2.29

$2.68 ISK 327

-37.69%

Local Beer (0.5 liter draught)

$6.01 CA$8.24

$12.22 ISK 1,492

-50.82%

Imported Beer (0.33 liter bottle)

$6.06 CA$8.30

$10.49 ISK 1,280

-42.23%

Milk (1 liter)

$2.31 CA$3.17

$1.94 ISK 237

19.07%

White Bread (500g)

$2.65 CA$3.63

$4.17 ISK 509

-36.45%

Rice (white) (1kg)

$3.60 CA$4.93

$3.57 ISK 436

0.84%

Eggs

$3.57 CA$4.89

$6.38 ISK 778

-44.04%

Local Cheese (1kg)

$11.60 CA$15.89

$18.51 ISK 2,260

-37.33%

Chicken Fillets (1kg)

$12.44 CA$17.04

$24.46 ISK 2,986

-49.14%

Beef Round Steak (1kg)

$15.25 CA$20.89

$42.80 ISK 5,225

-64.37%

Apples (1kg)

$4.33 CA$5.94

$3.18 ISK 388

36.16%

Banana (1kg)

$1.45 CA$1.99

$2.43 ISK 296

-40.33%

Oranges (1kg)

$3.78 CA$5.18

$2.83 ISK 345

33.57%

Tomato (1kg)

$4.21 CA$5.77

$5.10 ISK 623

-17.45%

Potato (1kg)

$2.69 CA$3.68

$3.51 ISK 428

-23.36%

Onion (1kg)

$2.75 CA$3.77

$2.28 ISK 278

20.61%

Lettuce (1 head)

$2.52 CA$3.45

$3.17 ISK 387

-20.50%

Water (1.5 liter bottle)

$1.86 CA$2.54

$2.25 ISK 275

-17.33%

Cigarettes 20 Pack (Marlboro, Camel)

$14.70 CA$20.14

$14.21 ISK 1,734

3.45%

Wine (Bottle)

$13.06 CA$17.90

$22.03 ISK 2,690

-40.72%

Local Beer (0.5 liter bottle)

$3.00 CA$4.10

$3.59 ISK 438

-16.43%

Imported Beer (0.33 liter bottle)

$3.37 CA$4.61

$3.15 ISK 384

6.98%

One-way Ticket (Public Transport)

$2.62 CA$3.59

$5.30 ISK 647

-50.57%

Public Transport Monthly Pass (Regular Price)

$75.5 CA$103

$83.8 ISK 10.2K

-9.81%

Taxi Start (Normal Tariff)

$3.50 CA$4.79

$6.16 ISK 752

-43.18%

Taxi (Normal Tariff) (1km)

$1.49 CA$2.04

$2.27 ISK 278

-34.36%

Taxi 1hour Waiting (Normal Tariff)

$28.59 CA$39.17

$86.0 ISK 10.5K

-66.75%

Gasoline (1 liter)

$1.15 CA$1.58

$2.48 ISK 303

-53.63%

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

$24.8K CA$33.9K

$47.5K ISK 5.8M

-47.89%

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

$20.9K CA$28.6K

$52.8K ISK 6.4M

-60.45%

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

$152 CA$208

$91.0 ISK 11.1K

67.25%

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

$45.94 CA$62.9

$27.81 ISK 3,395

65.19%

Internet (50+ Mbps, Unlimited Data)

$64.0 CA$87.7

$88.4 ISK 10.8K

-27.59%

Gym Membership (Monthly)

$42.93 CA$58.8

$82.4 ISK 10.1K

-47.88%

Tennis Court (1 Hour on Weekend)

$17.73 CA$24.29

$38.19 ISK 4,662

-53.57%

Cinema Ticket

$11.48 CA$15.72

$17.73 ISK 2,165

-35.25%

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

$810 CA$1,110

$346 ISK 42.2K

134.39%

International Primary School, 1 Child (Yearly)

$12.3K CA$16.8K

$29.6K ISK 3.6M

-58.48%

Jeans (Levis 501 Or Similar)

$55.5 CA$76.0

$137 ISK 16.7K

-59.47%

Summer Dress (H&M, Zara, etc)

$41.89 CA$57.4

$64.0 ISK 7,808

-34.52%

Sport Shoes (Adidas, Nike)

$90.1 CA$123

$173 ISK 21.1K

-47.81%

Men's Leather Business Shoes

$106 CA$146

$249 ISK 30.4K

-57.30%

1-bedroom Apartment, City Center (Monthly)

$1,340 CA$1,836

$2,170 ISK 264.9K

-38.24%

1-bedroom Apartment, Outside City Center (Monthly)

$1,217 CA$1,668

$1,995 ISK 243.5K

-38.98%

3-bedroom Apartment, City Center (Monthly)

$2,186 CA$2,995

$3,122 ISK 381.1K

-29.99%

3-bedroom Apartment, Outside City Center (Monthly)

$1,828 CA$2,505

$2,691 ISK 328.5K

-32.07%

Buy Apartment in City Center (m2)

$4,863 CA$6,663

$7,697 ISK 939.6K

-36.82%

Buy Apartment Outside City Center (m2)

$3,966 CA$5,434

$6,250 ISK 762.9K

-36.54%

Average Monthly Net Salary (After Tax)

$3,042 CA$4,167

$4,656 ISK 568.3K

-34.66%

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: April 11, 2026

Last update for Iceland: April 12, 2026

City Median Internet Speeds Comparison (Updated April 2026)

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

Digital Nomad Cost of Living Index

Canada vs other spots: cost of living compared

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

City Median Internet Speeds Comparison (Updated April 2026)

Canada

Iceland

Canada

Iceland

Canada vs other spots: cost of living compared

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