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

Name: Iceland
Address: IS

🙂 Solo nomad: Italy is 43.8% cheaper than Iceland without rent, and 52.2% cheaper with rent.

🙂 Family of 3: Italy is 40.3% cheaper than Iceland without rent, and 47.3% cheaper with rent.

Meal at Budget Restaurant

$17.66 €15.22

$26.42 ISK 3,328

-33.16%

Three-Course Dinner for Two, Mid-Range

$81.0 €69.8

$128 ISK 16.1K

-36.57%

Fast Food Meal (McDonalds, etc)

$11.38 €9.81

$19.96 ISK 2,514

-42.99%

Cappuccino

$1.98 €1.71

$5.99 ISK 755

-66.94%

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

$2.97 €2.56

$3.32 ISK 418

-10.54%

Water (0.33 liter bottle)

$1.32 €1.14

$2.62 ISK 330

-49.62%

Local Beer (0.5 liter draught)

$5.83 €5.03

$12.09 ISK 1,523

-51.78%

Imported Beer (0.33 liter bottle)

$5.30 €4.57

$10.65 ISK 1,341

-50.23%

Milk (1 liter)

$1.63 €1.41

$1.95 ISK 246

-16.41%

White Bread (500g)

$2.41 €2.08

$4.21 ISK 531

-42.76%

Rice (white) (1kg)

$3.04 €2.62

$3.59 ISK 452

-15.32%

Eggs

$4.13 €3.56

$6.41 ISK 808

-35.57%

Local Cheese (1kg)

$16.37 €14.11

$18.74 ISK 2,360

-12.65%

Chicken Fillets (1kg)

$12.61 €10.87

$23.89 ISK 3,010

-47.22%

Beef Round Steak (1kg)

$20.75 €17.89

$42.05 ISK 5,298

-50.65%

Apples (1kg)

$2.47 €2.13

$3.07 ISK 387

-19.54%

Banana (1kg)

$2.23 €1.92

$2.50 ISK 315

-10.80%

Oranges (1kg)

$2.69 €2.32

$2.89 ISK 364

-6.92%

Tomato (1kg)

$3.35 €2.89

$4.96 ISK 625

-32.46%

Potato (1kg)

$1.93 €1.67

$3.51 ISK 442

-45.01%

Onion (1kg)

$1.88 €1.62

$2.28 ISK 287

-17.54%

Lettuce (1 head)

$1.53 €1.32

$3.09 ISK 390

-50.49%

Water (1.5 liter bottle)

$0.54 €0.47

$2.17 ISK 274

-75.12%

Cigarettes 20 Pack (Marlboro, Camel)

$7.11 €6.13

$14.28 ISK 1,799

-50.21%

Wine (Bottle)

$7.10 €6.12

$23.25 ISK 2,929

-69.46%

Local Beer (0.5 liter bottle)

$1.80 €1.55

$3.72 ISK 468

-51.61%

Imported Beer (0.33 liter bottle)

$2.52 €2.17

$3.20 ISK 404

-21.25%

One-way Ticket (Public Transport)

$1.95 €1.68

$5.29 ISK 666

-63.14%

Public Transport Monthly Pass (Regular Price)

$42.04 €36.24

$84.2 ISK 10.6K

-50.05%

Taxi Start (Normal Tariff)

$5.96 €5.13

$6.39 ISK 805

-6.73%

Taxi (Normal Tariff) (1km)

$1.54 €1.33

$2.38 ISK 300

-35.29%

Taxi 1hour Waiting (Normal Tariff)

$34.47 €29.71

$84.9 ISK 10.7K

-59.39%

Gasoline (1 liter)

$2.10 €1.81

$2.54 ISK 320

-17.32%

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

$32.4K €28.0K

$47.1K ISK 5.9M

-31.09%

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

$33.8K €29.1K

$54.5K ISK 6.9M

-37.94%

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

$220 €190

$90.6 ISK 11.4K

142.81%

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

$13.51 €11.65

$27.40 ISK 3,451

-50.69%

Internet (50+ Mbps, Unlimited Data)

$31.00 €26.72

$88.2 ISK 11.1K

-64.85%

Gym Membership (Monthly)

$57.9 €49.91

$82.6 ISK 10.4K

-29.90%

Tennis Court (1 Hour on Weekend)

$25.31 €21.82

$37.13 ISK 4,677

-31.83%

Cinema Ticket

$10.47 €9.02

$17.81 ISK 2,244

-41.21%

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

$572 €493

$347 ISK 43.7K

64.85%

International Primary School, 1 Child (Yearly)

$10.5K €9,091

$29.7K ISK 3.7M

-64.51%

Jeans (Levis 501 Or Similar)

$89.8 €77.4

$138 ISK 17.4K

-34.90%

Summer Dress (H&M, Zara, etc)

$40.65 €35.04

$62.7 ISK 7,898

-35.17%

Sport Shoes (Adidas, Nike)

$100 €86.3

$175 ISK 22.0K

-42.68%

Men's Leather Business Shoes

$133 €115

$253 ISK 31.9K

-47.30%

1-bedroom Apartment, City Center (Monthly)

$841 €725

$2,235 ISK 281.6K

-62.40%

1-bedroom Apartment, Outside City Center (Monthly)

$656 €565

$1,977 ISK 249.1K

-66.84%

3-bedroom Apartment, City Center (Monthly)

$1,480 €1,276

$3,150 ISK 396.8K

-53.01%

3-bedroom Apartment, Outside City Center (Monthly)

$1,086 €937

$2,737 ISK 344.7K

-60.30%

Buy Apartment in City Center (m2)

$3,916 €3,376

$7,399 ISK 932.0K

-47.07%

Buy Apartment Outside City Center (m2)

$2,472 €2,131

$6,095 ISK 767.8K

-59.44%

Average Monthly Net Salary (After Tax)

$1,964 €1,693

$4,487 ISK 565.2K

-56.23%

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: January 11, 2026

Last update for Iceland: January 13, 2026

Digital Nomad Cost of Living Index

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

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