Last update: Nov 2026

Cost of Living Comparison Between Istanbul and Reykjahlid

For one person, living is cheaper in Reykjahlid: $181 a month against $1,519 in Istanbul, rent and utilities included – about $16,100 less a year. Rent and utilities account for about half 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

$1,519

/mo nomad

Reykjahlid

🇮🇸 Iceland

$181

/mo nomad

Monthly Cost of Living

How much you'll spend in Istanbul and in Reykjahlid

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

A single person spends $1,519 per month in Istanbul vs $181 in Reykjahlid, rent included.

Istanbul $1,519
Reykjahlid $181

A couple spends around $2,365 per month in Istanbul vs $265 in Reykjahlid, rent included.

Istanbul $2,365
Reykjahlid $265

A family of three spends $3,212 per month in Istanbul vs $349 in Reykjahlid, rent included.

Istanbul $3,212
Reykjahlid $349

Istanbul costs about 741% more than Reykjahlid, and outside of rent the biggest gap is in groceries.

Istanbul sits 12% above the global median, while Reykjahlid is 87% below – they fall on opposite sides of the world average.

Meal at Budget Restaurant

$11.81 ₺592

Three-Course Dinner for Two, Mid-Range

$54.9 ₺2,754

Fast Food Meal (McDonalds, etc)

$9.26 ₺465

Cappuccino

$4.30 ₺216

$6.26 ISK 760

-31.31%

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

$1.77 ₺89.0

Water (0.33 liter bottle)

$0.56 ₺28.32

Local Beer (0.5 liter draught)

$4.69 ₺235

$11.76 ISK 1,429

-60.12%

Imported Beer (0.33 liter bottle)

$7.12 ₺357

$11.82 ISK 1,437

-39.76%

Milk (1 liter)

$1.25 ₺62.7

$2.32 ISK 281

-46.12%

White Bread (500g)

$0.88 ₺44.17

Rice (white) (1kg)

$2.20 ₺111

Eggs

$2.43 ₺122

Local Cheese (1kg)

$10.48 ₺526

Chicken Fillets (1kg)

$5.31 ₺267

Beef Round Steak (1kg)

$21.10 ₺1,058

Apples (1kg)

$1.86 ₺93.1

Banana (1kg)

$2.30 ₺115

Oranges (1kg)

$1.22 ₺61.0

Tomato (1kg)

$1.80 ₺90.2

Potato (1kg)

$0.69 ₺34.83

Onion (1kg)

$0.64 ₺32.16

Lettuce (1 head)

$1.36 ₺68.0

Water (1.5 liter bottle)

$0.58 ₺28.94

Cigarettes 20 Pack (Marlboro, Camel)

$2.34 ₺117

Wine (Bottle)

$13.03 ₺653

Local Beer (0.5 liter bottle)

$2.36 ₺118

Imported Beer (0.33 liter bottle)

$3.32 ₺166

One-way Ticket (Public Transport)

$0.88 ₺44.07

Public Transport Monthly Pass (Regular Price)

$66.1 ₺3,316

Taxi Start (Normal Tariff)

$1.28 ₺64.4

Taxi (Normal Tariff) (1km)

$0.85 ₺42.80

Taxi 1hour Waiting (Normal Tariff)

$11.09 ₺556

Gasoline (1 liter)

$1.48 ₺74.0

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

$48.6K ₺2.4M

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

$42.0K ₺2.1M

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

$92.7 ₺4,650

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

$11.20 ₺562

Internet (50+ Mbps, Unlimited Data)

$15.89 ₺797

Gym Membership (Monthly)

$74.7 ₺3,745

Tennis Court (1 Hour on Weekend)

$22.95 ₺1,151

Cinema Ticket

$8.05 ₺404

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

$948 ₺47.6K

International Primary School, 1 Child (Yearly)

$36.9K ₺1.9M

Jeans (Levis 501 Or Similar)

$53.9 ₺2,702

Summer Dress (H&M, Zara, etc)

$41.49 ₺2,081

Sport Shoes (Adidas, Nike)

$101 ₺5,060

Men's Leather Business Shoes

$91.3 ₺4,580

1-bedroom Apartment, City Center (Monthly)

$1,014 ₺50.8K

1-bedroom Apartment, Outside City Center (Monthly)

$625 ₺31.3K

3-bedroom Apartment, City Center (Monthly)

$2,005 ₺100.6K

3-bedroom Apartment, Outside City Center (Monthly)

$1,126 ₺56.5K

Buy Apartment in City Center (m2)

$2,988 ₺149.8K

Buy Apartment Outside City Center (m2)

$1,730 ₺86.8K

Average Monthly Net Salary (After Tax)

$1,136 ₺57.0K

20-Year Fixed Mortgage Interest Rate (Annual %)

40.42

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

Last update for Istanbul: November 2, 2026

Last update for Reykjahlid: November 2, 2026

Monthly budget structure

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

Accommodation & Living

Istanbul

$625 41.1%

Reykjahlid

–

Groceries & Markets

Istanbul

$258 17%

Reykjahlid

–

Eating Out

Istanbul

$221 14.6%

Reykjahlid

–

Clothing & Footwear

Istanbul

$129 8.5%

Reykjahlid

–

Monthly Utilities & Internet

Istanbul

$120 7.9%

Reykjahlid

–

Sport & Entertainment

Istanbul

$91 6%

Reykjahlid

–

Getting Around

Istanbul

$75 5%

Reykjahlid

–

Good to know

🇹🇷 Istanbul

🇮🇸 Reykjahlid

🕒 Local time

22:47 10:47 PM

19:47 7:47 PM

3 h behind Istanbul

🌤 Weather

👥 Population

15,701,602

300

💱 Currency

Turkish Lira TRY ₺

Icelandic Króna ISK kr

📈 Exchange rate

100 TRY = 1.99 USD

100 TRY = 1.78 EUR

1,000 ISK = 8.23 USD

1,000 ISK = 7.36 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 November 6, 2026: 1 USD = 50.15 TRY (100 TRY = 1.99 USD). 1 EUR = 56.05 TRY (100 TRY = 1.78 EUR).

Icelandic Króna exchange rates as of November 6, 2026: 1 USD = 122 ISK (1,000 ISK = 8.23 USD). 1 EUR = 136 ISK (1,000 ISK = 7.36 EUR).

USD to TRY in detail →

On the map

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Between locations

Istanbul Reykjahlid 3,940 km ≈ 5 h nonstop flight

From you

Istanbul
Reykjahlid

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 Reykjahlid: Cost of Living - Frequently Asked Questions

Yes – Istanbul is pricier by about 741%, and outside of rent the gap shows up most in groceries.

For a comfortable life, plan on about $2,278 per month in Istanbul and $271 in Reykjahlid. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Monthly expenses with rent come to $1,519 in Istanbul and $181 in Reykjahlid. That makes Reykjahlid about 88% cheaper.

Groceries cost about 1015% more in Istanbul, though the gap depends on what you buy.

A $1,200 monthly budget goes further in Reykjahlid, where all-in costs run around $181, than in Istanbul at $1,519. In Reykjahlid it covers expenses comfortably, while in Istanbul it requires careful planning or may not stretch far enough.

It depends on your priorities. Istanbul has an edge in some lifestyle areas, with costs from $181 in Reykjahlid to $1,519 in Istanbul. Climate, culture, job market, and personal taste all factor in.

Both cities have a reputation for safety. In either place, the choice of neighborhood matters more than the choice between the two cities.