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

Name: Italy
Address: IT

😐 Solo nomad: Iceland is 77.9% more expensive than Italy without rent, and 109.3% more expensive with rent.

😐 Family of 3: Iceland is 67.6% more expensive than Italy without rent, and 89.8% more expensive with rent.

Meal at Budget Restaurant

$26.42 ISK 3,328

$17.66 €15.22

49.60%

Three-Course Dinner for Two, Mid-Range

$128 ISK 16.1K

$81.0 €69.8

57.65%

Fast Food Meal (McDonalds, etc)

$19.96 ISK 2,514

$11.38 €9.81

75.40%

Cappuccino

$5.99 ISK 755

$1.98 €1.71

202.53%

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

$3.32 ISK 418

$2.97 €2.56

11.78%

Water (0.33 liter bottle)

$2.62 ISK 330

$1.32 €1.14

98.48%

Local Beer (0.5 liter draught)

$12.09 ISK 1,523

$5.83 €5.03

107.38%

Imported Beer (0.33 liter bottle)

$10.65 ISK 1,341

$5.30 €4.57

100.94%

Milk (1 liter)

$1.95 ISK 246

$1.63 €1.41

19.63%

White Bread (500g)

$4.21 ISK 531

$2.41 €2.08

74.69%

Rice (white) (1kg)

$3.59 ISK 452

$3.04 €2.62

18.09%

Eggs

$6.41 ISK 808

$4.13 €3.56

55.21%

Local Cheese (1kg)

$18.74 ISK 2,360

$16.37 €14.11

14.48%

Chicken Fillets (1kg)

$23.89 ISK 3,010

$12.61 €10.87

89.45%

Beef Round Steak (1kg)

$42.05 ISK 5,298

$20.75 €17.89

102.65%

Apples (1kg)

$3.07 ISK 387

$2.47 €2.13

24.29%

Banana (1kg)

$2.50 ISK 315

$2.23 €1.92

12.11%

Oranges (1kg)

$2.89 ISK 364

$2.69 €2.32

7.43%

Tomato (1kg)

$4.96 ISK 625

$3.35 €2.89

48.06%

Potato (1kg)

$3.51 ISK 442

$1.93 €1.67

81.87%

Onion (1kg)

$2.28 ISK 287

$1.88 €1.62

21.28%

Lettuce (1 head)

$3.09 ISK 390

$1.53 €1.32

101.96%

Water (1.5 liter bottle)

$2.17 ISK 274

$0.54 €0.47

301.85%

Cigarettes 20 Pack (Marlboro, Camel)

$14.28 ISK 1,799

$7.11 €6.13

100.84%

Wine (Bottle)

$23.25 ISK 2,929

$7.10 €6.12

227.46%

Local Beer (0.5 liter bottle)

$3.72 ISK 468

$1.80 €1.55

106.67%

Imported Beer (0.33 liter bottle)

$3.20 ISK 404

$2.52 €2.17

26.98%

One-way Ticket (Public Transport)

$5.29 ISK 666

$1.95 €1.68

171.28%

Public Transport Monthly Pass (Regular Price)

$84.2 ISK 10.6K

$42.04 €36.24

100.19%

Taxi Start (Normal Tariff)

$6.39 ISK 805

$5.96 €5.13

7.21%

Taxi (Normal Tariff) (1km)

$2.38 ISK 300

$1.54 €1.33

54.55%

Taxi 1hour Waiting (Normal Tariff)

$84.9 ISK 10.7K

$34.47 €29.71

146.24%

Gasoline (1 liter)

$2.54 ISK 320

$2.10 €1.81

20.95%

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

$47.1K ISK 5.9M

$32.4K €28.0K

45.13%

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

$54.5K ISK 6.9M

$33.8K €29.1K

61.14%

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

$90.6 ISK 11.4K

$220 €190

-58.81%

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

$27.40 ISK 3,451

$13.51 €11.65

102.81%

Internet (50+ Mbps, Unlimited Data)

$88.2 ISK 11.1K

$31.00 €26.72

184.48%

Gym Membership (Monthly)

$82.6 ISK 10.4K

$57.9 €49.91

42.66%

Tennis Court (1 Hour on Weekend)

$37.13 ISK 4,677

$25.31 €21.82

46.70%

Cinema Ticket

$17.81 ISK 2,244

$10.47 €9.02

70.11%

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

$347 ISK 43.7K

$572 €493

-39.34%

International Primary School, 1 Child (Yearly)

$29.7K ISK 3.7M

$10.5K €9,091

181.76%

Jeans (Levis 501 Or Similar)

$138 ISK 17.4K

$89.8 €77.4

53.60%

Summer Dress (H&M, Zara, etc)

$62.7 ISK 7,898

$40.65 €35.04

54.24%

Sport Shoes (Adidas, Nike)

$175 ISK 22.0K

$100 €86.3

74.46%

Men's Leather Business Shoes

$253 ISK 31.9K

$133 €115

89.76%

1-bedroom Apartment, City Center (Monthly)

$2,235 ISK 281.6K

$841 €725

165.94%

1-bedroom Apartment, Outside City Center (Monthly)

$1,977 ISK 249.1K

$656 €565

201.58%

3-bedroom Apartment, City Center (Monthly)

$3,150 ISK 396.8K

$1,480 €1,276

112.80%

3-bedroom Apartment, Outside City Center (Monthly)

$2,737 ISK 344.7K

$1,086 €937

151.90%

Buy Apartment in City Center (m2)

$7,399 ISK 932.0K

$3,916 €3,376

88.94%

Buy Apartment Outside City Center (m2)

$6,095 ISK 767.8K

$2,472 €2,131

146.53%

Average Monthly Net Salary (After Tax)

$4,487 ISK 565.2K

$1,964 €1,693

128.49%

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: January 13, 2026

Last update for Italy: January 11, 2026

Digital Nomad Cost of Living Index

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

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