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

Name: Canada
Address: CA

😐 Solo nomad: Iceland is 60% more expensive than Canada without rent, and 57.1% more expensive with rent.

😐 Family of 3: Iceland is 62% more expensive than Canada without rent, and 49.1% more expensive with rent.

Meal at Budget Restaurant

$26.87 ISK 3,353

$18.65 CA$25.39

44.08%

Three-Course Dinner for Two, Mid-Range

$126 ISK 15.7K

$74.3 CA$101

69.88%

Fast Food Meal (McDonalds, etc)

$20.34 ISK 2,538

$11.02 CA$15

84.57%

Cappuccino

$6.09 ISK 760

$3.75 CA$5.11

62.40%

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

$3.36 ISK 419

$2.17 CA$2.95

54.84%

Water (0.33 liter bottle)

$2.7 ISK 337

$1.68 CA$2.29

60.71%

Local Beer (0.5 liter draught)

$12.07 ISK 1,506

$5.83 CA$7.94

107.03%

Imported Beer (0.33 liter bottle)

$10.47 ISK 1,306

$5.74 CA$7.81

82.40%

Milk (1 liter)

$1.95 ISK 243

$2.24 CA$3.04

-12.95%

White Bread (500g)

$4.07 ISK 508

$2.66 CA$3.62

53.01%

Rice (white) (1kg)

$3.48 ISK 434

$3.6 CA$4.9

-3.33%

Eggs

$6.36 ISK 793

$3.53 CA$4.8

80.17%

Local Cheese (1kg)

$18.36 ISK 2,290

$11.32 CA$15.41

62.19%

Chicken Fillets (1kg)

$24.71 ISK 3,082

$12.46 CA$16.96

98.31%

Beef Round Steak (1kg)

$42.1 ISK 5,251

$15.28 CA$20.8

175.52%

Apples (1kg)

$3.18 ISK 397

$4.17 CA$5.68

-23.74%

Banana (1kg)

$2.49 ISK 310

$1.5 CA$2.05

66.00%

Oranges (1kg)

$2.92 ISK 365

$4 CA$5.45

-27.00%

Tomato (1kg)

$4.86 ISK 606

$4.07 CA$5.54

19.41%

Potato (1kg)

$3.68 ISK 460

$2.78 CA$3.78

32.37%

Onion (1kg)

$2.26 ISK 281

$2.73 CA$3.72

-17.22%

Lettuce (1 head)

$3.17 ISK 396

$2.63 CA$3.58

20.53%

Water (1.5 liter bottle)

$2.2 ISK 274

$1.82 CA$2.48

20.88%

Cigarettes 20 Pack (Marlboro, Camel)

$14.05 ISK 1,753

$14.61 CA$19.88

-3.83%

Wine (Bottle)

$24.13 ISK 3,010

$13.08 CA$17.8

84.48%

Local Beer (0.5 liter bottle)

$3.63 ISK 453

$3.01 CA$4.1

20.60%

Imported Beer (0.33 liter bottle)

$3.21 ISK 401

$3.34 CA$4.55

-3.89%

One-way Ticket (Public Transport)

$5.24 ISK 653

$2.56 CA$3.49

104.69%

Public Transport Monthly Pass (Regular Price)

$84.3 ISK 10.5K

$78.4 CA$107

7.59%

Taxi Start (Normal Tariff)

$6.26 ISK 781

$3.55 CA$4.83

76.34%

Taxi (Normal Tariff) (1km)

$2.37 ISK 296

$1.55 CA$2.11

52.90%

Taxi 1hour Waiting (Normal Tariff)

$86.5 ISK 10.8K

$28.91 CA$39.35

199.27%

Gasoline (1 liter)

$2.46 ISK 307

$1.16 CA$1.58

112.07%

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

$47.9K ISK 6M

$24.6K CA$33.5K

94.71%

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

$54K ISK 6.7M

$20.9K CA$28.5K

158.17%

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

$90.4 ISK 11.3K

$155 CA$211

-41.81%

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

$27.54 ISK 3,435

$45.2 CA$61.5

-39.07%

Internet (50+ Mbps, Unlimited Data)

$85.9 ISK 10.7K

$62.4 CA$84.9

37.60%

Gym Membership (Monthly)

$81.8 ISK 10.2K

$42.82 CA$58.3

91.01%

Tennis Court (1 Hour on Weekend)

$37.74 ISK 4,708

$17.72 CA$24.11

112.98%

Cinema Ticket

$17.35 ISK 2,164

$11.25 CA$15.31

54.22%

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

$348 ISK 43.4K

$804 CA$1,094

-56.75%

International Primary School, 1 Child (Yearly)

$29.5K ISK 3.7M

$12K CA$16.4K

145.10%

Jeans (Levis 501 Or Similar)

$137 ISK 17.1K

$56.7 CA$77.2

141.52%

Summer Dress (H&M, Zara, etc)

$64.2 ISK 8,005

$41.61 CA$56.6

54.22%

Sport Shoes (Adidas, Nike)

$171 ISK 21.4K

$90.2 CA$123

89.99%

Men's Leather Business Shoes

$254 ISK 31.6K

$108 CA$147

134.78%

1-bedroom Apartment, City Center (Monthly)

$2,216 ISK 276.4K

$1,364 CA$1,857

62.42%

1-bedroom Apartment, Outside City Center (Monthly)

$2,002 ISK 249.8K

$1,208 CA$1,645

65.69%

3-bedroom Apartment, City Center (Monthly)

$3,148 ISK 392.7K

$2,179 CA$2,966

44.46%

3-bedroom Apartment, Outside City Center (Monthly)

$2,722 ISK 339.5K

$1,835 CA$2,497

48.36%

Buy Apartment in City Center (m2)

$7,550 ISK 941.9K

$6,152 CA$8,374

22.72%

Buy Apartment Outside City Center (m2)

$6,306 ISK 786.7K

$4,409 CA$6,001

43.03%

Average Monthly Net Salary (After Tax)

$4,591 ISK 572.7K

$2,867 CA$3,903

60.12%

20-Year Fixed Mortgage Interest Rate (Annual %)

9.88

6.33

56.08%

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

Last update for Iceland: October 28, 2025

Last update for Canada: October 28, 2025

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