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

Name: Italy
Address: IT

😐 Solo nomad: Iceland is 79.2% more expensive than Italy without rent, and 105.6% more expensive with rent.

😐 Family of 3: Iceland is 71.1% more expensive than Italy without rent, and 86.4% more expensive with rent.

Meal at Budget Restaurant

$26.93 ISK 3,293

$17.19 €14.60

56.66%

Three-Course Dinner for Two, Mid-Range

$127 ISK 15.5K

$79.5 €67.5

59.25%

Fast Food Meal (McDonalds, etc)

$20.36 ISK 2,489

$11.53 €9.79

76.58%

Cappuccino

$5.84 ISK 714

$1.95 €1.66

199.49%

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

$3.29 ISK 403

$2.97 €2.52

10.77%

Water (0.33 liter bottle)

$2.68 ISK 328

$1.36 €1.15

97.06%

Local Beer (0.5 liter draught)

$12.22 ISK 1,494

$5.64 €4.79

116.67%

Imported Beer (0.33 liter bottle)

$10.49 ISK 1,282

$5.18 €4.40

102.51%

Milk (1 liter)

$1.94 ISK 238

$1.62 €1.37

19.75%

White Bread (500g)

$4.17 ISK 509

$2.40 €2.03

73.75%

Rice (white) (1kg)

$3.57 ISK 437

$2.93 €2.49

21.84%

Eggs

$6.38 ISK 779

$3.96 €3.37

61.11%

Local Cheese (1kg)

$18.51 ISK 2,263

$16.71 €14.19

10.77%

Chicken Fillets (1kg)

$24.46 ISK 2,990

$12.63 €10.72

93.67%

Beef Round Steak (1kg)

$42.80 ISK 5,232

$20.75 €17.62

106.27%

Apples (1kg)

$3.18 ISK 389

$2.51 €2.13

26.69%

Banana (1kg)

$2.43 ISK 297

$2.24 €1.90

8.48%

Oranges (1kg)

$2.83 ISK 346

$2.68 €2.28

5.60%

Tomato (1kg)

$5.10 ISK 624

$3.35 €2.85

52.24%

Potato (1kg)

$3.51 ISK 429

$2.03 €1.72

72.91%

Onion (1kg)

$2.28 ISK 278

$1.84 €1.56

23.91%

Lettuce (1 head)

$3.17 ISK 388

$1.52 €1.29

108.55%

Water (1.5 liter bottle)

$2.25 ISK 275

$0.50 €0.43

350.00%

Cigarettes 20 Pack (Marlboro, Camel)

$14.21 ISK 1,737

$6.91 €5.87

105.64%

Wine (Bottle)

$22.03 ISK 2,693

$7.23 €6.13

204.70%

Local Beer (0.5 liter bottle)

$3.59 ISK 439

$1.83 €1.56

96.17%

Imported Beer (0.33 liter bottle)

$3.15 ISK 385

$2.52 €2.14

25.00%

One-way Ticket (Public Transport)

$5.30 ISK 648

$1.93 €1.64

174.61%

Public Transport Monthly Pass (Regular Price)

$83.8 ISK 10.2K

$43.04 €36.54

94.61%

Taxi Start (Normal Tariff)

$6.16 ISK 753

$5.63 €4.78

9.41%

Taxi (Normal Tariff) (1km)

$2.27 ISK 278

$1.52 €1.29

49.34%

Taxi 1hour Waiting (Normal Tariff)

$86.0 ISK 10.5K

$34.84 €29.58

146.81%

Gasoline (1 liter)

$2.48 ISK 303

$2.02 €1.72

22.77%

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

$47.5K ISK 5.8M

$32.9K €27.9K

44.66%

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

$52.8K ISK 6.5M

$33.6K €28.5K

57.26%

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

$91.0 ISK 11.1K

$221 €188

-58.83%

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

$27.81 ISK 3,400

$13.55 €11.51

105.24%

Internet (50+ Mbps, Unlimited Data)

$88.4 ISK 10.8K

$31.59 €26.82

179.77%

Gym Membership (Monthly)

$82.4 ISK 10.1K

$57.4 €48.73

43.48%

Tennis Court (1 Hour on Weekend)

$38.19 ISK 4,668

$25.69 €21.81

48.66%

Cinema Ticket

$17.73 ISK 2,168

$10.24 €8.70

73.14%

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

$346 ISK 42.3K

$579 €492

-40.31%

International Primary School, 1 Child (Yearly)

$29.6K ISK 3.6M

$10.5K €8,929

181.59%

Jeans (Levis 501 Or Similar)

$137 ISK 16.7K

$92.2 €78.3

48.46%

Summer Dress (H&M, Zara, etc)

$64.0 ISK 7,819

$40.41 €34.31

58.30%

Sport Shoes (Adidas, Nike)

$173 ISK 21.1K

$101 €85.8

70.81%

Men's Leather Business Shoes

$249 ISK 30.4K

$133 €113

87.29%

1-bedroom Apartment, City Center (Monthly)

$2,170 ISK 265.3K

$851 €722

155.04%

1-bedroom Apartment, Outside City Center (Monthly)

$1,995 ISK 243.9K

$655 €556

204.59%

3-bedroom Apartment, City Center (Monthly)

$3,122 ISK 381.6K

$1,515 €1,287

106.01%

3-bedroom Apartment, Outside City Center (Monthly)

$2,691 ISK 329.0K

$1,076 €913

150.24%

Buy Apartment in City Center (m2)

$7,697 ISK 940.9K

$3,967 €3,368

94.04%

Buy Apartment Outside City Center (m2)

$6,250 ISK 764.0K

$2,426 €2,059

157.66%

Average Monthly Net Salary (After Tax)

$4,656 ISK 569.1K

$1,938 €1,646

140.21%

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: April 12, 2026

Last update for Italy: April 14, 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

Iceland vs other spots: cost of living compared

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

City Median Internet Speeds Comparison (Updated April 2026)

Iceland

Italy

Iceland

Italy

Iceland vs other spots: cost of living compared

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