Cost of Living Comparison Between Iceland and Italy Cost of Living Comparison Between Iceland and Italy

Name: Italy
Address: IT

😐 Solo nomad: Iceland is 84.4% more expensive than Italy without rent, and 105.8% more expensive with rent.

😐 Family of 3: Iceland is 73.4% more expensive than Italy without rent, and 82.8% more expensive with rent.

Meal at Budget Restaurant

$26.87 ISK 3,353

$17.2 €14.85

56.22%

Three-Course Dinner for Two, Mid-Range

$126 ISK 15.7K

$80 €69.1

57.68%

Fast Food Meal (McDonalds, etc)

$20.34 ISK 2,538

$11.38 €9.82

78.73%

Cappuccino

$6.09 ISK 760

$2 €1.72

204.50%

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

$3.36 ISK 419

$2.87 €2.48

17.07%

Water (0.33 liter bottle)

$2.7 ISK 337

$1.35 €1.17

100.00%

Local Beer (0.5 liter draught)

$12.07 ISK 1,506

$5.68 €4.91

112.50%

Imported Beer (0.33 liter bottle)

$10.47 ISK 1,306

$5.1 €4.4

105.29%

Milk (1 liter)

$1.95 ISK 243

$1.68 €1.45

16.07%

White Bread (500g)

$4.07 ISK 508

$2.31 €2

76.19%

Rice (white) (1kg)

$3.48 ISK 434

$2.9 €2.5

20.00%

Eggs

$6.36 ISK 793

$4.04 €3.49

57.43%

Local Cheese (1kg)

$18.36 ISK 2,290

$16.69 €14.41

10.01%

Chicken Fillets (1kg)

$24.71 ISK 3,082

$12.25 €10.58

101.71%

Beef Round Steak (1kg)

$42.1 ISK 5,251

$20.16 €17.4

108.83%

Apples (1kg)

$3.18 ISK 397

$2.47 €2.13

28.74%

Banana (1kg)

$2.49 ISK 310

$2.12 €1.83

17.45%

Oranges (1kg)

$2.92 ISK 365

$2.71 €2.34

7.75%

Tomato (1kg)

$4.86 ISK 606

$3.28 €2.83

48.17%

Potato (1kg)

$3.68 ISK 460

$2.04 €1.76

80.39%

Onion (1kg)

$2.26 ISK 281

$1.82 €1.57

24.18%

Lettuce (1 head)

$3.17 ISK 396

$1.47 €1.27

115.65%

Water (1.5 liter bottle)

$2.2 ISK 274

$0.51 €0.44

331.37%

Cigarettes 20 Pack (Marlboro, Camel)

$14.05 ISK 1,753

$6.75 €5.83

108.15%

Wine (Bottle)

$24.13 ISK 3,010

$7 €6.04

244.71%

Local Beer (0.5 liter bottle)

$3.63 ISK 453

$1.82 €1.57

99.45%

Imported Beer (0.33 liter bottle)

$3.21 ISK 401

$2.53 €2.18

26.88%

One-way Ticket (Public Transport)

$5.24 ISK 653

$1.96 €1.69

167.35%

Public Transport Monthly Pass (Regular Price)

$84.3 ISK 10.5K

$42.43 €36.63

98.73%

Taxi Start (Normal Tariff)

$6.26 ISK 781

$5.68 €4.9

10.21%

Taxi (Normal Tariff) (1km)

$2.37 ISK 296

$1.59 €1.38

49.06%

Taxi 1hour Waiting (Normal Tariff)

$86.5 ISK 10.8K

$34.1 €29.45

153.72%

Gasoline (1 liter)

$2.46 ISK 307

$2.01 €1.74

22.39%

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

$47.9K ISK 6M

$31.8K €27.4K

50.76%

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

$54K ISK 6.7M

$32.7K €28.2K

65.10%

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

$90.4 ISK 11.3K

$222 €192

-59.36%

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

$27.54 ISK 3,435

$13.37 €11.55

105.98%

Internet (50+ Mbps, Unlimited Data)

$85.9 ISK 10.7K

$31.76 €27.42

170.31%

Gym Membership (Monthly)

$81.8 ISK 10.2K

$57.5 €49.63

42.29%

Tennis Court (1 Hour on Weekend)

$37.74 ISK 4,708

$25.84 €22.31

46.05%

Cinema Ticket

$17.35 ISK 2,164

$10.21 €8.82

69.93%

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

$348 ISK 43.4K

$576 €497

-39.61%

International Primary School, 1 Child (Yearly)

$29.5K ISK 3.7M

$10.7K €9,249

175.53%

Jeans (Levis 501 Or Similar)

$137 ISK 17.1K

$92.9 €80.2

47.31%

Summer Dress (H&M, Zara, etc)

$64.2 ISK 8,005

$40.84 €35.26

57.13%

Sport Shoes (Adidas, Nike)

$171 ISK 21.4K

$98.4 €84.9

74.22%

Men's Leather Business Shoes

$254 ISK 31.6K

$131 €113

93.49%

1-bedroom Apartment, City Center (Monthly)

$2,216 ISK 276.4K

$853 €737

159.62%

1-bedroom Apartment, Outside City Center (Monthly)

$2,002 ISK 249.8K

$658 €568

204.47%

3-bedroom Apartment, City Center (Monthly)

$3,148 ISK 392.7K

$1,518 €1,311

107.38%

3-bedroom Apartment, Outside City Center (Monthly)

$2,722 ISK 339.5K

$1,072 €926

153.81%

Buy Apartment in City Center (m2)

$7,550 ISK 941.9K

$4,096 €3,537

84.31%

Buy Apartment Outside City Center (m2)

$6,306 ISK 786.7K

$2,595 €2,240

143.03%

Average Monthly Net Salary (After Tax)

$4,591 ISK 572.7K

$1,960 €1,692

134.24%

20-Year Fixed Mortgage Interest Rate (Annual %)

9.88

4.41

124.04%

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

Last update for Iceland: October 28, 2025

Last update for Italy: October 27, 2025

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