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

Name: Iceland
Address: IS

🙂 Solo nomad: Italy is 44.2% cheaper than Iceland without rent, and 51.4% cheaper with rent.

🙂 Family of 3: Italy is 41.5% cheaper than Iceland without rent, and 46.4% cheaper with rent.

Meal at Budget Restaurant

$17.19 €14.60

$26.93 ISK 3,293

-36.17%

Three-Course Dinner for Two, Mid-Range

$79.5 €67.5

$127 ISK 15.5K

-37.21%

Fast Food Meal (McDonalds, etc)

$11.53 €9.79

$20.36 ISK 2,489

-43.37%

Cappuccino

$1.95 €1.66

$5.84 ISK 714

-66.61%

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

$2.97 €2.52

$3.29 ISK 403

-9.73%

Water (0.33 liter bottle)

$1.36 €1.15

$2.68 ISK 328

-49.25%

Local Beer (0.5 liter draught)

$5.64 €4.79

$12.22 ISK 1,494

-53.85%

Imported Beer (0.33 liter bottle)

$5.18 €4.40

$10.49 ISK 1,282

-50.62%

Milk (1 liter)

$1.62 €1.37

$1.94 ISK 238

-16.49%

White Bread (500g)

$2.40 €2.03

$4.17 ISK 509

-42.45%

Rice (white) (1kg)

$2.93 €2.49

$3.57 ISK 437

-17.93%

Eggs

$3.96 €3.37

$6.38 ISK 779

-37.93%

Local Cheese (1kg)

$16.71 €14.19

$18.51 ISK 2,263

-9.72%

Chicken Fillets (1kg)

$12.63 €10.72

$24.46 ISK 2,990

-48.36%

Beef Round Steak (1kg)

$20.75 €17.62

$42.80 ISK 5,232

-51.52%

Apples (1kg)

$2.51 €2.13

$3.18 ISK 389

-21.07%

Banana (1kg)

$2.24 €1.90

$2.43 ISK 297

-7.82%

Oranges (1kg)

$2.68 €2.28

$2.83 ISK 346

-5.30%

Tomato (1kg)

$3.35 €2.85

$5.10 ISK 624

-34.31%

Potato (1kg)

$2.03 €1.72

$3.51 ISK 429

-42.17%

Onion (1kg)

$1.84 €1.56

$2.28 ISK 278

-19.30%

Lettuce (1 head)

$1.52 €1.29

$3.17 ISK 388

-52.05%

Water (1.5 liter bottle)

$0.50 €0.43

$2.25 ISK 275

-77.78%

Cigarettes 20 Pack (Marlboro, Camel)

$6.91 €5.87

$14.21 ISK 1,737

-51.37%

Wine (Bottle)

$7.23 €6.13

$22.03 ISK 2,693

-67.18%

Local Beer (0.5 liter bottle)

$1.83 €1.56

$3.59 ISK 439

-49.03%

Imported Beer (0.33 liter bottle)

$2.52 €2.14

$3.15 ISK 385

-20.00%

One-way Ticket (Public Transport)

$1.93 €1.64

$5.30 ISK 648

-63.58%

Public Transport Monthly Pass (Regular Price)

$43.04 €36.54

$83.8 ISK 10.2K

-48.62%

Taxi Start (Normal Tariff)

$5.63 €4.78

$6.16 ISK 753

-8.60%

Taxi (Normal Tariff) (1km)

$1.52 €1.29

$2.27 ISK 278

-33.04%

Taxi 1hour Waiting (Normal Tariff)

$34.84 €29.58

$86.0 ISK 10.5K

-59.48%

Gasoline (1 liter)

$2.02 €1.72

$2.48 ISK 303

-18.55%

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

$32.9K €27.9K

$47.5K ISK 5.8M

-30.87%

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

$33.6K €28.5K

$52.8K ISK 6.5M

-36.41%

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

$221 €188

$91.0 ISK 11.1K

142.92%

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

$13.55 €11.51

$27.81 ISK 3,400

-51.28%

Internet (50+ Mbps, Unlimited Data)

$31.59 €26.82

$88.4 ISK 10.8K

-64.26%

Gym Membership (Monthly)

$57.4 €48.73

$82.4 ISK 10.1K

-30.31%

Tennis Court (1 Hour on Weekend)

$25.69 €21.81

$38.19 ISK 4,668

-32.73%

Cinema Ticket

$10.24 €8.70

$17.73 ISK 2,168

-42.24%

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

$579 €492

$346 ISK 42.3K

67.54%

International Primary School, 1 Child (Yearly)

$10.5K €8,929

$29.6K ISK 3.6M

-64.49%

Jeans (Levis 501 Or Similar)

$92.2 €78.3

$137 ISK 16.7K

-32.64%

Summer Dress (H&M, Zara, etc)

$40.41 €34.31

$64.0 ISK 7,819

-36.83%

Sport Shoes (Adidas, Nike)

$101 €85.8

$173 ISK 21.1K

-41.45%

Men's Leather Business Shoes

$133 €113

$249 ISK 30.4K

-46.61%

1-bedroom Apartment, City Center (Monthly)

$851 €722

$2,170 ISK 265.3K

-60.79%

1-bedroom Apartment, Outside City Center (Monthly)

$655 €556

$1,995 ISK 243.9K

-67.17%

3-bedroom Apartment, City Center (Monthly)

$1,515 €1,287

$3,122 ISK 381.6K

-51.46%

3-bedroom Apartment, Outside City Center (Monthly)

$1,076 €913

$2,691 ISK 329.0K

-60.04%

Buy Apartment in City Center (m2)

$3,967 €3,368

$7,697 ISK 940.9K

-48.46%

Buy Apartment Outside City Center (m2)

$2,426 €2,059

$6,250 ISK 764.0K

-61.19%

Average Monthly Net Salary (After Tax)

$1,938 €1,646

$4,656 ISK 569.1K

-58.37%

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: April 14, 2026

Last update for Iceland: April 12, 2026

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

Italy vs other spots: cost of living compared

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

City Median Internet Speeds Comparison (Updated April 2026)

Italy

Iceland

Italy

Iceland

Italy vs other spots: cost of living compared

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