Last update: Oct 2026

Cost of Living Comparison Between Charlottetown and Reykjavik

For one person, living is cheaper in Charlottetown: $1,957 a month against $4,037 in Reykjavik, rent and utilities included – about $25,000 less a year. Rent and utilities account for most of the difference.

95

Cost of Living Index in Charlottetown
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Charlottetown Living Index
193

Cost of Living Index in Reykjavik
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Reykjavik Living Index

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Charlottetown

🇨🇦 Canada

$1,957

/mo nomad

Reykjavik

🇮🇸 Iceland

$4,037

/mo nomad

Monthly Cost of Living

How much you'll spend in Charlottetown and in Reykjavik

Real prices from locals and on-the-ground checks – rent, groceries, transit and the daily extras. Here's what a month in Charlottetown and in Reykjavik actually costs, broken down by who's living it.

A single person spends $1,957 per month in Charlottetown vs $4,037 in Reykjavik, rent included.

Charlottetown $1,957
Reykjavik $4,037

A couple spends around $2,920 per month in Charlottetown vs $5,666 in Reykjavik, rent included.

Charlottetown $2,920
Reykjavik $5,666

A family of three spends $3,882 per month in Charlottetown vs $7,295 in Reykjavik, rent included.

Charlottetown $3,882
Reykjavik $7,295

Charlottetown is about 52% cheaper than Reykjavik, and outside of rent the biggest gap is in eating out.

Both Charlottetown and Reykjavik sit above the global median – Charlottetown by 46%, Reykjavik by 201%.

Meal at Budget Restaurant

$14.00 CA$19.91

$30.59 ISK 3,727

-54.23%

Three-Course Dinner for Two, Mid-Range

$59.2 CA$84.1

$136 ISK 16.5K

-56.35%

Fast Food Meal (McDonalds, etc)

$9.23 CA$13.14

$27.08 ISK 3,300

-65.92%

Cappuccino

$3.57 CA$5.07

$6.72 ISK 818

-46.88%

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

$1.73 CA$2.45

$3.27 ISK 399

-47.09%

Water (0.33 liter bottle)

$1.29 CA$1.84

$3.16 ISK 386

-59.18%

Local Beer (0.5 liter draught)

$5.52 CA$7.85

$13.91 ISK 1,695

-60.32%

Imported Beer (0.33 liter bottle)

$5.57 CA$7.92

$12.06 ISK 1,469

-53.81%

Milk (1 liter)

$2.23 CA$3.17

$2.04 ISK 248

9.31%

White Bread (500g)

$2.99 CA$4.26

$4.32 ISK 526

-30.79%

Rice (white) (1kg)

$4.85 CA$6.89

$3.67 ISK 447

32.15%

Eggs

$3.90 CA$5.55

$7.02 ISK 855

-44.44%

Local Cheese (1kg)

$11.34 CA$16.13

$22.01 ISK 2,682

-48.48%

Chicken Fillets (1kg)

$14.86 CA$21.13

$24.70 ISK 3,009

-39.84%

Beef Round Steak (1kg)

$16.99 CA$24.17

$42.66 ISK 5,198

-60.17%

Apples (1kg)

$3.52 CA$5.01

$3.37 ISK 411

4.45%

Banana (1kg)

$1.45 CA$2.06

$2.85 ISK 347

-49.12%

Oranges (1kg)

$3.91 CA$5.56

$3.17 ISK 387

23.34%

Tomato (1kg)

$4.72 CA$6.71

$6.39 ISK 779

-26.13%

Potato (1kg)

$1.72 CA$2.44

$4.01 ISK 489

-57.11%

Onion (1kg)

$3.12 CA$4.43

$1.64 ISK 200

90.24%

Lettuce (1 head)

$2.67 CA$3.80

$3.80 ISK 462

-29.74%

Water (1.5 liter bottle)

$2.03 CA$2.89

$1.74 ISK 212

16.67%

Cigarettes 20 Pack (Marlboro, Camel)

$17.45 CA$24.81

$13.80 ISK 1,681

26.45%

Wine (Bottle)

$13.70 CA$19.48

$23.38 ISK 2,849

-41.40%

Local Beer (0.5 liter bottle)

$3.25 CA$4.63

$3.53 ISK 430

-7.93%

Imported Beer (0.33 liter bottle)

$3.09 CA$4.40

$3.45 ISK 420

-10.43%

One-way Ticket (Public Transport)

$1.42 CA$2.02

$5.77 ISK 703

-75.39%

Public Transport Monthly Pass (Regular Price)

$14.18 CA$20.17

$95.1 ISK 11.6K

-85.10%

Taxi Start (Normal Tariff)

$7.29 CA$10.37

$6.63 ISK 808

9.95%

Taxi (Normal Tariff) (1km)

$2.05 CA$2.92

$2.79 ISK 340

-26.52%

Taxi 1hour Waiting (Normal Tariff)

$27.61 CA$39.27

$81.4 ISK 9,915

-66.07%

Gasoline (1 liter)

$1.24 CA$1.77

$2.11 ISK 257

-41.23%

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

$27.6K CA$39.3K

$50.8K ISK 6.2M

-45.68%

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

$18.3K CA$26.1K

$52.7K ISK 6.4M

-65.23%

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

$124 CA$176

$88.7 ISK 10.8K

39.91%

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

$32.57 CA$46.32

$31.53 ISK 3,842

3.30%

Internet (50+ Mbps, Unlimited Data)

$73.0 CA$104

$84.6 ISK 10.3K

-13.73%

Gym Membership (Monthly)

$56.9 CA$81.0

$100 ISK 12.2K

-43.30%

Tennis Court (1 Hour on Weekend)

$3.55 CA$5.05

$48.20 ISK 5,873

-92.63%

Cinema Ticket

$10.57 CA$15.04

$19.87 ISK 2,422

-46.80%

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

$157 CA$223

$1,277 ISK 155.7K

-87.70%

International Primary School, 1 Child (Yearly)

$31.0K ISK 3.8M

Jeans (Levis 501 Or Similar)

$39.61 CA$56.3

$161 ISK 19.6K

-75.38%

Summer Dress (H&M, Zara, etc)

$33.73 CA$47.98

$64.9 ISK 7,908

-48.03%

Sport Shoes (Adidas, Nike)

$83.1 CA$118

$183 ISK 22.3K

-54.49%

Men's Leather Business Shoes

$129 CA$184

$254 ISK 30.9K

-49.03%

1-bedroom Apartment, City Center (Monthly)

$1,091 CA$1,552

$2,499 ISK 304.6K

-56.35%

1-bedroom Apartment, Outside City Center (Monthly)

$823 CA$1,171

$2,000 ISK 243.7K

-58.84%

3-bedroom Apartment, City Center (Monthly)

$1,747 CA$2,486

$3,452 ISK 420.6K

-49.38%

3-bedroom Apartment, Outside City Center (Monthly)

$1,358 CA$1,932

$2,742 ISK 334.2K

-50.48%

Buy Apartment in City Center (m2)

$3,107 CA$4,419

$8,001 ISK 974.9K

-61.17%

Buy Apartment Outside City Center (m2)

$1,923 CA$2,735

$6,249 ISK 761.5K

-69.23%

Average Monthly Net Salary (After Tax)

$2,415 CA$3,435

$4,691 ISK 571.6K

-48.52%

20-Year Fixed Mortgage Interest Rate (Annual %)

4.58

8.81

-48.01%

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

Last update for Charlottetown: October 6, 2026

Last update for Reykjavik: October 4, 2026

Monthly budget structure

Share of the monthly basket for one person, rent included.

Accommodation & Living

Charlottetown

$823 42.5%

Reykjavik

$2K 50.9% 143% $1.2K

Groceries & Markets

Charlottetown

$408 21.1%

Reykjavik

$625 15.9% 53.1% $217

Eating Out

Charlottetown

$233 12%

Reykjavik

$526 13.4% 125% $293

Monthly Utilities & Internet

Charlottetown

$230 11.9%

Reykjavik

$205 5.2% 10.8% $25

Clothing & Footwear

Charlottetown

$129 6.6%

Reykjavik

$298 7.6% 132% $169

Sport & Entertainment

Charlottetown

$78 4%

Reykjavik

$140 3.6% 79.5% $62

Getting Around

Charlottetown

$37 1.9%

Reykjavik

$139 3.5% 271% $101

Cost Breakdown

A central one-bedroom costs $1,091 in Charlottetown versus $2,499 in Reykjavik. Rent is usually the largest line item in a monthly budget, so the gap here sets the tone for the overall comparison.

Salaries run about 94% higher in Reykjavik, which partly offsets the higher cost of living there. Purchasing power depends on which expenses matter most to you.

A mid-range dinner for two costs $59.0 in Charlottetown versus $136 in Reykjavik. Monthly groceries follow the same trend: $408 vs $625 – making Charlottetown the more affordable choice for daily food spending.

Good to know

🇨🇦 Charlottetown

🇮🇸 Reykjavik

🕒 Local time

23:36 11:36 PM

02:36 2:36 AM

3 h ahead of Charlottetown

🌤 Weather

👥 Population

38,809

136,894 Capital

💱 Currency

Canadian Dollar CAD $

Icelandic Króna ISK kr

📈 Exchange rate

1 CAD = 0.703 USD

1 CAD = 0.627 EUR

1,000 ISK = 8.21 USD

1,000 ISK = 7.32 EUR

Exchange rates and currency converter

ISK, USD, EUR to CAD – Canadian Dollar Converter

🇺🇸 United States Dollar ($)

🇨🇦 Canadian Dollar ($)

Canadian Dollar exchange rates as of October 10, 2026: 1 USD = 1.42 CAD (1 CAD = 0.703 USD). 1 EUR = 1.6 CAD (1 CAD = 0.627 EUR).

Icelandic Króna exchange rates as of October 10, 2026: 1 USD = 122 ISK (1,000 ISK = 8.21 USD). 1 EUR = 137 ISK (1,000 ISK = 7.32 EUR).

USD to CAD in detail →

On the map

Lowest

Highest

Between locations

Charlottetown Reykjavik 3,190 km ≈ 4 h 30 min nonstop flight

From you

Charlottetown
Reykjavik

Distances are measured in a straight line. Your location is detected approximately.

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

Charlottetown vs Reykjavik: Cost of Living - Frequently Asked Questions

Reykjavik costs about 106% more than Charlottetown, and outside of rent the gap comes mainly from eating out. That's enough to noticeably affect everyday spending and lifestyle for anyone choosing between the two.

For a comfortable life, plan on about $2,936 per month in Charlottetown and $6,055 in Reykjavik. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Rent is clearly cheaper in Charlottetown, especially for central apartments. Housing is actually the single biggest factor behind the overall cost gap between these two cities.

Monthly expenses with rent come to $1,957 in Charlottetown and $4,037 in Reykjavik. That's a gap of about 106%.

Public transport costs about 571% less in Charlottetown. For daily commuters, that gap adds up to noticeable savings over a year.

A $2,000 monthly budget goes further in Charlottetown, where all-in costs run around $1,957, than in Reykjavik at $4,037. In Charlottetown it covers expenses comfortably, while in Reykjavik it requires careful planning or may not stretch far enough.

For digital nomads, it depends on budget. Charlottetown costs $1,957 versus $4,037 in Reykjavik. Both have workable remote work infrastructure, but the cost gap matters when income varies month to month.

Both have safer and rougher neighborhoods, but overall safety is comparable to other large cities. Neighborhood choice matters more than the city-level comparison – central, well-trafficked areas feel secure in both.

If budget matters most, go with Charlottetown. If higher salaries, better infrastructure, or specific career opportunities are the priority, Reykjavik makes more sense. Both are solid long-term options with distinct trade-offs.