Last update: Oct 2026

Cost of Living Comparison Between Istanbul and Egilsstadir

For one person, living is cheaper in Egilsstadir: $623 a month against $1,526 in Istanbul, rent and utilities included – about $10,800 less a year. Rent and utilities account for most of the difference.

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Cost of Living Index in Istanbul
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Istanbul Living Index

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Istanbul

🇹🇷 Turkey

$1,526

/mo nomad

Egilsstadir

🇮🇸 Iceland

$623

/mo nomad

Monthly Cost of Living

How much you'll spend in Istanbul and in Egilsstadir

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 Egilsstadir actually costs, broken down by who's living it.

Monthly costs for one person with rent: $1,526 in Istanbul versus $623 in Egilsstadir.

Istanbul $1,526
Egilsstadir $623

Estimated couple costs with rent: $2,399 in Istanbul versus $1,044 in Egilsstadir.

Istanbul $2,399
Egilsstadir $1,044

Monthly costs for a family of three with rent: $3,272 in Istanbul versus $1,465 in Egilsstadir.

Istanbul $3,272
Egilsstadir $1,465

Living in Istanbul is roughly 145% more expensive than in Egilsstadir, and outside of rent the biggest gap is in groceries.

The two cities straddle the global median: Istanbul is 14% above, Egilsstadir is 53% below.

Meal at Budget Restaurant

$11.88 ₺585

Three-Course Dinner for Two, Mid-Range

$55.1 ₺2,715

Fast Food Meal (McDonalds, etc)

$9.14 ₺450

Cappuccino

$4.24 ₺209

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

$1.75 ₺86.0

Water (0.33 liter bottle)

$0.54 ₺26.84

Local Beer (0.5 liter draught)

$4.69 ₺231

Imported Beer (0.33 liter bottle)

$5.97 ₺294

Milk (1 liter)

$1.26 ₺62.1

$1.70 ISK 207

-25.88%

White Bread (500g)

$0.95 ₺46.82

$2.85 ISK 348

-66.67%

Rice (white) (1kg)

$2.31 ₺114

$2.48 ISK 302

-6.85%

Eggs

$2.47 ₺122

$5.85 ISK 712

-57.78%

Local Cheese (1kg)

$10.55 ₺520

$22.28 ISK 2,715

-52.65%

Chicken Fillets (1kg)

$5.60 ₺276

$33.23 ISK 4,049

-83.15%

Beef Round Steak (1kg)

$21.21 ₺1,045

$43.56 ISK 5,308

-51.31%

Apples (1kg)

$1.93 ₺95.1

$2.70 ISK 328

-28.52%

Banana (1kg)

$2.29 ₺113

$2.45 ISK 298

-6.53%

Oranges (1kg)

$1.28 ₺63.1

$2.54 ISK 309

-49.61%

Tomato (1kg)

$1.84 ₺90.8

$3.85 ISK 469

-52.21%

Potato (1kg)

$0.67 ₺32.87

$4.40 ISK 536

-84.77%

Onion (1kg)

$0.59 ₺29.31

$2.11 ISK 257

-72.04%

Lettuce (1 head)

$1.33 ₺65.4

$2.20 ISK 268

-39.55%

Water (1.5 liter bottle)

$0.59 ₺29.11

$2.22 ISK 270

-73.42%

Cigarettes 20 Pack (Marlboro, Camel)

$2.36 ₺116

Wine (Bottle)

$13.47 ₺664

$22.37 ISK 2,726

-39.79%

Local Beer (0.5 liter bottle)

$2.42 ₺119

$3.99 ISK 486

-39.35%

Imported Beer (0.33 liter bottle)

$3.54 ₺174

$3.56 ISK 433

-0.56%

One-way Ticket (Public Transport)

$0.83 ₺40.65

Public Transport Monthly Pass (Regular Price)

$66.5 ₺3,274

Taxi Start (Normal Tariff)

$1.35 ₺66.6

$6.11 ISK 744

-77.91%

Taxi (Normal Tariff) (1km)

$0.85 ₺42.06

Taxi 1hour Waiting (Normal Tariff)

$10.86 ₺535

Gasoline (1 liter)

$1.47 ₺72.3

$2.33 ISK 284

-36.91%

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

$51.6K ₺2.5M

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

$44.4K ₺2.2M

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

$89.2 ₺4,396

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

$11.60 ₺572

Internet (50+ Mbps, Unlimited Data)

$16.10 ₺793

Gym Membership (Monthly)

$77.3 ₺3,806

Tennis Court (1 Hour on Weekend)

$22.66 ₺1,116

Cinema Ticket

$8.34 ₺411

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

$974 ₺48.0K

International Primary School, 1 Child (Yearly)

$25.8K ₺1.3M

Jeans (Levis 501 Or Similar)

$52.7 ₺2,597

Summer Dress (H&M, Zara, etc)

$39.16 ₺1,930

Sport Shoes (Adidas, Nike)

$103 ₺5,084

Men's Leather Business Shoes

$96.6 ₺4,760

1-bedroom Apartment, City Center (Monthly)

$994 ₺49.0K

1-bedroom Apartment, Outside City Center (Monthly)

$629 ₺31.0K

3-bedroom Apartment, City Center (Monthly)

$2,024 ₺99.7K

3-bedroom Apartment, Outside City Center (Monthly)

$1,155 ₺56.9K

Buy Apartment in City Center (m2)

$3,160 ₺155.7K

Buy Apartment Outside City Center (m2)

$1,838 ₺90.5K

Average Monthly Net Salary (After Tax)

$1,203 ₺59.3K

20-Year Fixed Mortgage Interest Rate (Annual %)

41.09

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

Last update for Istanbul: October 3, 2026

Last update for Egilsstadir: October 5, 2026

Monthly budget structure

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

Accommodation & Living

Istanbul

$629 41.2%

Egilsstadir

–

Groceries & Markets

Istanbul

$264 17.3%

Egilsstadir

–

Eating Out

Istanbul

$218 14.3%

Egilsstadir

–

Clothing & Footwear

Istanbul

$131 8.6%

Egilsstadir

–

Monthly Utilities & Internet

Istanbul

$117 7.7%

Egilsstadir

–

Sport & Entertainment

Istanbul

$94 6.1%

Egilsstadir

–

Getting Around

Istanbul

$75 4.9%

Egilsstadir

–

Good to know

🇹🇷 Istanbul

🇮🇸 Egilsstadir

🕒 Local time

10:37 10:37 AM

07:37 7:37 AM

3 h behind Istanbul

🌤 Weather

👥 Population

15,701,602

2,500

💱 Currency

Turkish Lira TRY ₺

Icelandic Króna ISK kr

📈 Exchange rate

100 TRY = 2.03 USD

100 TRY = 1.81 EUR

1,000 ISK = 8.21 USD

1,000 ISK = 7.32 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 10, 2026: 1 USD = 49.27 TRY (100 TRY = 2.03 USD). 1 EUR = 55.26 TRY (100 TRY = 1.81 EUR).

Icelandic Króna exchange rates as of October 10, 2026: 1 USD = 122 ISK (1,000 ISK = 8.21 USD). 1 EUR = 137 ISK (1,000 ISK = 7.32 EUR).

USD to TRY in detail →

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Istanbul Egilsstadir 3,820 km ≈ 5 h nonstop flight

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Egilsstadir

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 Egilsstadir: Cost of Living - Frequently Asked Questions

Egilsstadir is cheaper overall, especially in eating out, clothing, and leisure. The 145% gap adds up to real monthly savings that compound significantly over time.

You'd need roughly $2,289 in Istanbul and $935 in Egilsstadir to live well. The gap comes down to housing and overall price levels. Both cities are liveable on less, but these numbers represent actual comfort.

Shoppers in Istanbul pay roughly 137% less for everyday groceries. It's an unusual reversal that partly offsets higher costs elsewhere.

All in, you'll spend $1,526 per month in Istanbul versus $623 in Egilsstadir – a 145% gap that adds up to real savings over time for anyone picking the cheaper option.

At $623 in Egilsstadir versus $1,526 in Istanbul, a $1,500 budget is realistic in Egilsstadir but tight or insufficient in Istanbul. The gap between the two cities makes Egilsstadir the clear choice for anyone on this budget.

For families, Egilsstadir is more practical. Housing and childcare are both notably cheaper than in Istanbul, and the savings on those two alone free up budget for education, activities, and family trips.

Safety-wise, Istanbul and Egilsstadir 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 Egilsstadir gentler on the wallet – expenses run 145% less than in Istanbul. Beyond cost, consider language, visa policies, and how big the international community is in each city.