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

Name: Iceland
Address: IS

🙂 Solo nomad: Italy is 45.8% cheaper than Iceland without rent, and 51.4% cheaper with rent.

🙂 Family of 3: Italy is 42.3% cheaper than Iceland without rent, and 45.3% cheaper with rent.

Meal at Budget Restaurant

$17.2 €14.85

$26.87 ISK 3,353

-35.99%

Three-Course Dinner for Two, Mid-Range

$80 €69.1

$126 ISK 15.7K

-36.58%

Fast Food Meal (McDonalds, etc)

$11.38 €9.82

$20.34 ISK 2,538

-44.05%

Cappuccino

$2 €1.72

$6.09 ISK 760

-67.16%

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

$2.87 €2.48

$3.36 ISK 419

-14.58%

Water (0.33 liter bottle)

$1.35 €1.17

$2.7 ISK 337

-50.00%

Local Beer (0.5 liter draught)

$5.68 €4.91

$12.07 ISK 1,506

-52.94%

Imported Beer (0.33 liter bottle)

$5.1 €4.4

$10.47 ISK 1,306

-51.29%

Milk (1 liter)

$1.68 €1.45

$1.95 ISK 243

-13.85%

White Bread (500g)

$2.31 €2

$4.07 ISK 508

-43.24%

Rice (white) (1kg)

$2.9 €2.5

$3.48 ISK 434

-16.67%

Eggs

$4.04 €3.49

$6.36 ISK 793

-36.48%

Local Cheese (1kg)

$16.69 €14.41

$18.36 ISK 2,290

-9.10%

Chicken Fillets (1kg)

$12.25 €10.58

$24.71 ISK 3,082

-50.42%

Beef Round Steak (1kg)

$20.16 €17.4

$42.1 ISK 5,251

-52.11%

Apples (1kg)

$2.47 €2.13

$3.18 ISK 397

-22.33%

Banana (1kg)

$2.12 €1.83

$2.49 ISK 310

-14.86%

Oranges (1kg)

$2.71 €2.34

$2.92 ISK 365

-7.19%

Tomato (1kg)

$3.28 €2.83

$4.86 ISK 606

-32.51%

Potato (1kg)

$2.04 €1.76

$3.68 ISK 460

-44.57%

Onion (1kg)

$1.82 €1.57

$2.26 ISK 281

-19.47%

Lettuce (1 head)

$1.47 €1.27

$3.17 ISK 396

-53.63%

Water (1.5 liter bottle)

$0.51 €0.44

$2.2 ISK 274

-76.82%

Cigarettes 20 Pack (Marlboro, Camel)

$6.75 €5.83

$14.05 ISK 1,753

-51.96%

Wine (Bottle)

$7 €6.04

$24.13 ISK 3,010

-70.99%

Local Beer (0.5 liter bottle)

$1.82 €1.57

$3.63 ISK 453

-49.86%

Imported Beer (0.33 liter bottle)

$2.53 €2.18

$3.21 ISK 401

-21.18%

One-way Ticket (Public Transport)

$1.96 €1.69

$5.24 ISK 653

-62.60%

Public Transport Monthly Pass (Regular Price)

$42.43 €36.63

$84.3 ISK 10.5K

-49.68%

Taxi Start (Normal Tariff)

$5.68 €4.9

$6.26 ISK 781

-9.27%

Taxi (Normal Tariff) (1km)

$1.59 €1.38

$2.37 ISK 296

-32.91%

Taxi 1hour Waiting (Normal Tariff)

$34.1 €29.45

$86.5 ISK 10.8K

-60.59%

Gasoline (1 liter)

$2.01 €1.74

$2.46 ISK 307

-18.29%

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

$31.8K €27.4K

$47.9K ISK 6M

-33.67%

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

$32.7K €28.2K

$54K ISK 6.7M

-39.43%

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

$222 €192

$90.4 ISK 11.3K

146.08%

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

$13.37 €11.55

$27.54 ISK 3,435

-51.45%

Internet (50+ Mbps, Unlimited Data)

$31.76 €27.42

$85.9 ISK 10.7K

-63.01%

Gym Membership (Monthly)

$57.5 €49.63

$81.8 ISK 10.2K

-29.72%

Tennis Court (1 Hour on Weekend)

$25.84 €22.31

$37.74 ISK 4,708

-31.53%

Cinema Ticket

$10.21 €8.82

$17.35 ISK 2,164

-41.15%

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

$576 €497

$348 ISK 43.4K

65.59%

International Primary School, 1 Child (Yearly)

$10.7K €9,249

$29.5K ISK 3.7M

-63.71%

Jeans (Levis 501 Or Similar)

$92.9 €80.2

$137 ISK 17.1K

-32.12%

Summer Dress (H&M, Zara, etc)

$40.84 €35.26

$64.2 ISK 8,005

-36.36%

Sport Shoes (Adidas, Nike)

$98.4 €84.9

$171 ISK 21.4K

-42.60%

Men's Leather Business Shoes

$131 €113

$254 ISK 31.6K

-48.32%

1-bedroom Apartment, City Center (Monthly)

$853 €737

$2,216 ISK 276.4K

-61.48%

1-bedroom Apartment, Outside City Center (Monthly)

$658 €568

$2,002 ISK 249.8K

-67.16%

3-bedroom Apartment, City Center (Monthly)

$1,518 €1,311

$3,148 ISK 392.7K

-51.78%

3-bedroom Apartment, Outside City Center (Monthly)

$1,072 €926

$2,722 ISK 339.5K

-60.60%

Buy Apartment in City Center (m2)

$4,096 €3,537

$7,550 ISK 941.9K

-45.74%

Buy Apartment Outside City Center (m2)

$2,595 €2,240

$6,306 ISK 786.7K

-58.85%

Average Monthly Net Salary (After Tax)

$1,960 €1,692

$4,591 ISK 572.7K

-57.31%

20-Year Fixed Mortgage Interest Rate (Annual %)

4.41

9.88

-55.36%

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

Last update for Italy: October 27, 2025

Last update for Iceland: October 28, 2025

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