Last update: Oct 2026

Cost of Living Comparison Between Istanbul and Drangsnes

For one person, living is cheaper in Istanbul: $1,550 a month against $1,712 in Drangsnes, rent and utilities included – about $1,900 less a year. The total is higher in Drangsnes despite lower rent and utilities.

75

Cost of Living Index in Istanbul
Learn more

Istanbul Living Index
84

Cost of Living Index in Drangsnes
Learn more

Drangsnes Living Index

Jump to prices

Istanbul

🇹🇷 Turkey

$1,550

/mo nomad

Drangsnes

🇮🇸 Iceland

$1,712

/mo nomad

Monthly Cost of Living

How much you'll spend in Istanbul and in Drangsnes

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

Monthly costs for one person with rent: $1,550 in Istanbul versus $1,712 in Drangsnes.

Istanbul $1,550
Drangsnes $1,712

Estimated couple costs with rent: $2,415 in Istanbul versus $2,910 in Drangsnes.

Istanbul $2,415
Drangsnes $2,910

Monthly costs for a family of three with rent: $3,281 in Istanbul versus $4,109 in Drangsnes.

Istanbul $3,281
Drangsnes $4,109

Living in Istanbul costs roughly 9% less than in Drangsnes, and outside of rent the biggest gap is in groceries.

Both cities are pricier than the global median: Istanbul 15% above, Drangsnes 27% above.

Meal at Budget Restaurant

$12.30 ₺609

$30.53 ISK 3,703

-59.71%

Three-Course Dinner for Two, Mid-Range

$54.7 ₺2,708

$122 ISK 14.8K

-55.02%

Fast Food Meal (McDonalds, etc)

$9.22 ₺456

$27.37 ISK 3,320

-66.31%

Cappuccino

$4.40 ₺218

$6.65 ISK 806

-33.83%

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

$1.68 ₺83.1

$3.40 ISK 412

-50.59%

Water (0.33 liter bottle)

$0.59 ₺29.40

$3.02 ISK 366

-80.46%

Local Beer (0.5 liter draught)

$4.70 ₺233

$14.04 ISK 1,703

-66.52%

Imported Beer (0.33 liter bottle)

$5.91 ₺292

$12.40 ISK 1,504

-52.34%

Milk (1 liter)

$1.21 ₺60.0

$2.10 ISK 255

-42.38%

White Bread (500g)

$0.89 ₺44.10

$4.32 ISK 523

-79.40%

Rice (white) (1kg)

$2.19 ₺108

$3.65 ISK 443

-40.00%

Eggs

$2.35 ₺116

$6.97 ISK 845

-66.28%

Local Cheese (1kg)

$10.42 ₺516

$21.84 ISK 2,649

-52.29%

Chicken Fillets (1kg)

$5.65 ₺280

$24.20 ISK 2,935

-76.65%

Beef Round Steak (1kg)

$20.94 ₺1,037

$41.38 ISK 5,019

-49.40%

Apples (1kg)

$1.90 ₺94.1

$3.35 ISK 406

-43.28%

Banana (1kg)

$2.31 ₺114

$2.78 ISK 337

-16.91%

Oranges (1kg)

$1.28 ₺63.1

$3.27 ISK 397

-60.86%

Tomato (1kg)

$1.80 ₺89.0

$6.43 ISK 780

-72.01%

Potato (1kg)

$0.65 ₺32.16

$3.81 ISK 462

-82.94%

Onion (1kg)

$0.64 ₺31.91

$1.63 ISK 198

-60.74%

Lettuce (1 head)

$1.25 ₺62.1

$3.82 ISK 463

-67.28%

Water (1.5 liter bottle)

$0.56 ₺27.58

$1.81 ISK 219

-69.06%

Cigarettes 20 Pack (Marlboro, Camel)

$2.37 ₺118

$14.12 ISK 1,713

-83.22%

Wine (Bottle)

$13.42 ₺664

$23.60 ISK 2,862

-43.14%

Local Beer (0.5 liter bottle)

$2.40 ₺119

$3.69 ISK 447

-34.96%

Imported Beer (0.33 liter bottle)

$3.48 ₺172

$3.33 ISK 403

4.50%

One-way Ticket (Public Transport)

$0.89 ₺43.84

Public Transport Monthly Pass (Regular Price)

$67.4 ₺3,338

Taxi Start (Normal Tariff)

$1.29 ₺64.1

$6.66 ISK 808

-80.63%

Taxi (Normal Tariff) (1km)

$0.92 ₺45.70

$2.91 ISK 353

-68.38%

Taxi 1hour Waiting (Normal Tariff)

$10.96 ₺542

$80.9 ISK 9,806

-86.44%

Gasoline (1 liter)

$1.47 ₺72.9

$2.12 ISK 257

-30.66%

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

$50.8K ₺2.5M

$50.3K ISK 6.1M

0.95%

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

$44.5K ₺2.2M

$53.0K ISK 6.4M

-15.92%

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

$88.6 ₺4,387

$95.5 ISK 11.6K

-7.18%

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

$11.59 ₺574

$32.50 ISK 3,942

-64.34%

Internet (50+ Mbps, Unlimited Data)

$15.81 ₺783

$85.5 ISK 10.4K

-81.50%

Gym Membership (Monthly)

$77.2 ₺3,820

Tennis Court (1 Hour on Weekend)

$22.74 ₺1,126

Cinema Ticket

$8.14 ₺403

$19.83 ISK 2,405

-58.95%

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

$1,008 ₺49.9K

$1,173 ISK 142.3K

-14.06%

International Primary School, 1 Child (Yearly)

$25.6K ₺1.3M

$26.3K ISK 3.2M

-2.81%

Jeans (Levis 501 Or Similar)

$54.0 ₺2,671

$150 ISK 18.1K

-63.93%

Summer Dress (H&M, Zara, etc)

$40.83 ₺2,021

$66.2 ISK 8,034

-38.36%

Sport Shoes (Adidas, Nike)

$98.9 ₺4,895

$180 ISK 21.9K

-45.16%

Men's Leather Business Shoes

$96.6 ₺4,783

$250 ISK 30.4K

-61.44%

1-bedroom Apartment, City Center (Monthly)

$985 ₺48.7K

1-bedroom Apartment, Outside City Center (Monthly)

$650 ₺32.2K

3-bedroom Apartment, City Center (Monthly)

$1,983 ₺98.2K

3-bedroom Apartment, Outside City Center (Monthly)

$1,180 ₺58.4K

Buy Apartment in City Center (m2)

$3,138 ₺155.4K

Buy Apartment Outside City Center (m2)

$1,780 ₺88.1K

Average Monthly Net Salary (After Tax)

$1,205 ₺59.7K

$6,197 ISK 751.6K

-80.55%

20-Year Fixed Mortgage Interest Rate (Annual %)

40.92

8.81

364.47%

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

Last update for Istanbul: October 13, 2026

Last update for Drangsnes: October 10, 2026

Monthly budget structure

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

Accommodation & Living

Istanbul

$650 41.9%

Drangsnes

- * 0% 100%

Groceries & Markets

Istanbul

$260 16.8%

Drangsnes

$620 36.2% 139% $360

Eating Out

Istanbul

$223 14.4%

Drangsnes

$527 30.8% 136% $304

Clothing & Footwear

Istanbul

$131 8.4%

Drangsnes

$291 17% 123% $160

Monthly Utilities & Internet

Istanbul

$116 7.5%

Drangsnes

$213 12.5% 84% $97

Sport & Entertainment

Istanbul

$93 6%

Drangsnes

$40 * 2.3% 57.6% $54

Getting Around

Istanbul

$77 5%

Drangsnes

$21 * 1.2% 72.4% $56

Categories marked with * are only partly priced – their share counts the items that do have prices.

Cost Breakdown

Drangsnes pays 414% more on average. The extra income cushions the higher costs, though housing choices and lifestyle decide how much of the gap is truly closed.

Dining out: $55.0 in Istanbul vs $122 in Drangsnes for a mid-range dinner for two. Groceries echo the gap at $260 vs $620 per month, with Istanbul cheaper across the board.

Good to know

🇹🇷 Istanbul

🇮🇸 Drangsnes

🕒 Local time

03:55 3:55 AM

00:55 12:55 AM

3 h behind Istanbul

🌤 Weather

👥 Population

15,701,602

100

💱 Currency

Turkish Lira TRY ₺

Icelandic Króna ISK kr

📈 Exchange rate

100 TRY = 2.02 USD

100 TRY = 1.8 EUR

1,000 ISK = 8.24 USD

1,000 ISK = 7.33 EUR

Exchange rates and currency converter

ISK, USD, EUR to TRY – Turkish Lira Converter

🇺🇸 United States Dollar ($)

🇹🇷 Turkish Lira (₺)

Turkish Lira exchange rates as of October 19, 2026: 1 USD = 49.51 TRY (100 TRY = 2.02 USD). 1 EUR = 55.66 TRY (100 TRY = 1.8 EUR).

Icelandic Króna exchange rates as of October 19, 2026: 1 USD = 121 ISK (1,000 ISK = 8.24 USD). 1 EUR = 136 ISK (1,000 ISK = 7.33 EUR).

USD to TRY in detail →

On the map

Lowest

Highest

Between locations

Istanbul Drangsnes 4,140 km ≈ 6 h nonstop flight

From you

Istanbul
Drangsnes

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

Istanbul vs Drangsnes: Cost of Living - Frequently Asked Questions

Istanbul wins on cost – living expenses run 10% lower than in Drangsnes. Housing and daily spending are where you'll feel the difference most, making Istanbul the obvious pick if budget is a priority.

On paper, salaries run 414% lower in Drangsnes. That's worth factoring in alongside costs, though remote workers earning in a stronger currency may not notice the difference at all.

Childcare runs $1,008 in Istanbul versus $1,173 in Drangsnes. Over years of preschool, even a modest monthly gap compounds into a major financial factor for families.

Dining out is cheaper in Istanbul – a meal for two runs $55.0 versus $122 in Drangsnes. If you eat out regularly, this makes a real dent in your monthly spending.

At $1,550 in Istanbul versus $1,712 in Drangsnes, a $1,500 budget is realistic in Istanbul but tight or insufficient in Drangsnes. The gap between the two cities makes Istanbul the clear choice for anyone on this budget.

Both work as nomad bases, but Istanbul delivers better value – similar infrastructure at $1,550 monthly. If stretching your runway or maximizing savings is the goal, the price difference makes Istanbul hard to pass up.

Safety-wise, Istanbul and Drangsnes are on par. Petty crime is typical for cities this size, and most residents feel comfortable going about their daily routines in either place.

Expats usually find Istanbul gentler on the wallet – expenses run 10% less than in Drangsnes. Beyond cost, consider language, visa policies, and how big the international community is in each city.