Last update: Oct 2026

Cost of Living Comparison Between Labrador City and Reykjavik

For one person, living is cheaper in Labrador City: $2,361 a month against $4,023 in Reykjavik, rent and utilities included – about $19,900 less a year. Rent and utilities account for most of the difference.

115

Cost of Living Index in Labrador City
Learn more

Labrador City Living Index
193

Cost of Living Index in Reykjavik
Learn more

Reykjavik Living Index

Jump to prices

Labrador City

🇨🇦 Canada

$2,361

/mo nomad

Reykjavik

🇮🇸 Iceland

$4,023

/mo nomad

Monthly Cost of Living

How much you'll spend in Labrador City and in Reykjavik

Real prices from locals and on-the-ground checks – rent, groceries, transit and the daily extras. Here's what a month in Labrador City and in Reykjavik actually costs, broken down by who's living it.

Monthly costs for one person with rent: $2,361 in Labrador City versus $4,023 in Reykjavik.

Labrador City $2,361
Reykjavik $4,023

Estimated couple costs with rent: $3,438 in Labrador City versus $5,708 in Reykjavik.

Labrador City $3,438
Reykjavik $5,708

Monthly costs for a family of three with rent: $4,514 in Labrador City versus $7,393 in Reykjavik.

Labrador City $4,514
Reykjavik $7,393

Living in Labrador City costs roughly 41% less than in Reykjavik, and outside of rent the biggest gap is in groceries.

Both cities are pricier than the global median: Labrador City 74% above, Reykjavik 197% above.

Meal at Budget Restaurant

$29.93 CA$42.31

$31.00 ISK 3,760

-3.45%

Three-Course Dinner for Two, Mid-Range

$68.8 CA$97.2

$123 ISK 14.9K

-44.19%

Fast Food Meal (McDonalds, etc)

$12.75 CA$18.02

$27.21 ISK 3,300

-53.14%

Cappuccino

$3.50 CA$4.95

$6.90 ISK 837

-49.28%

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

$4.12 CA$5.83

$3.30 ISK 401

24.85%

Water (0.33 liter bottle)

$2.16 CA$3.05

$3.16 ISK 384

-31.65%

Local Beer (0.5 liter draught)

$5.37 CA$7.59

$13.84 ISK 1,678

-61.20%

Imported Beer (0.33 liter bottle)

$5.64 CA$7.97

$12.46 ISK 1,512

-54.74%

Milk (1 liter)

$2.07 CA$2.93

$2.06 ISK 250

0.49%

White Bread (500g)

$2.41 CA$3.41

$4.11 ISK 498

-41.36%

Rice (white) (1kg)

$3.23 CA$4.56

$3.68 ISK 446

-12.23%

Eggs

$2.86 CA$4.05

$7.27 ISK 882

-60.66%

Local Cheese (1kg)

$9.73 CA$13.76

$21.79 ISK 2,643

-55.35%

Chicken Fillets (1kg)

$11.22 CA$15.86

$23.95 ISK 2,905

-53.15%

Beef Round Steak (1kg)

$14.41 CA$20.37

$41.43 ISK 5,025

-65.22%

Apples (1kg)

$3.68 CA$5.20

$3.42 ISK 414

7.60%

Banana (1kg)

$1.29 CA$1.82

$2.84 ISK 344

-54.58%

Oranges (1kg)

$3.74 CA$5.28

$3.23 ISK 391

15.79%

Tomato (1kg)

$3.80 CA$5.37

$6.46 ISK 783

-41.18%

Potato (1kg)

$2.44 CA$3.45

$4.05 ISK 491

-39.75%

Onion (1kg)

$2.20 CA$3.11

$1.66 ISK 202

32.53%

Lettuce (1 head)

$2.45 CA$3.46

$3.86 ISK 468

-36.53%

Water (1.5 liter bottle)

$1.62 CA$2.28

$1.84 ISK 223

-11.96%

Cigarettes 20 Pack (Marlboro, Camel)

$14.02 CA$19.82

$13.96 ISK 1,693

0.43%

Wine (Bottle)

$12.78 CA$18.06

$23.76 ISK 2,882

-46.21%

Local Beer (0.5 liter bottle)

$2.57 CA$3.63

$3.54 ISK 430

-27.40%

Imported Beer (0.33 liter bottle)

$3.08 CA$4.36

$3.44 ISK 418

-10.47%

One-way Ticket (Public Transport)

$2.25 CA$3.18

$5.81 ISK 705

-61.27%

Public Transport Monthly Pass (Regular Price)

$62.0 CA$87.7

$95.3 ISK 11.6K

-34.93%

Taxi Start (Normal Tariff)

$2.92 CA$4.13

$6.72 ISK 815

-56.55%

Taxi (Normal Tariff) (1km)

$1.48 CA$2.09

$2.81 ISK 340

-47.33%

Taxi 1hour Waiting (Normal Tariff)

$22.79 CA$32.22

$81.3 ISK 9,866

-71.98%

Gasoline (1 liter)

$1.18 CA$1.67

$2.12 ISK 257

-44.34%

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

$28.2K CA$39.8K

$68.9K ISK 8.4M

-59.11%

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

$19.0K CA$26.9K

$55.8K ISK 6.8M

-65.91%

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

$133 CA$187

$95.8 ISK 11.6K

38.37%

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

$38.45 CA$54.4

$33.11 ISK 4,016

16.13%

Internet (50+ Mbps, Unlimited Data)

$91.7 CA$130

$87.2 ISK 10.6K

5.24%

Gym Membership (Monthly)

$40.01 CA$56.6

$101 ISK 12.3K

-60.42%

Tennis Court (1 Hour on Weekend)

$18.16 CA$25.68

$50.7 ISK 6,155

-64.21%

Cinema Ticket

$11.21 CA$15.84

$19.85 ISK 2,407

-43.53%

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

$736 CA$1,041

$1,195 ISK 144.9K

-38.36%

International Primary School, 1 Child (Yearly)

$13.0K CA$18.4K

$26.2K ISK 3.2M

-50.26%

Jeans (Levis 501 Or Similar)

$52.4 CA$74.1

$148 ISK 18.0K

-64.63%

Summer Dress (H&M, Zara, etc)

$37.89 CA$53.6

$66.8 ISK 8,096

-43.24%

Sport Shoes (Adidas, Nike)

$84.2 CA$119

$187 ISK 22.6K

-54.89%

Men's Leather Business Shoes

$103 CA$145

$253 ISK 30.6K

-59.27%

1-bedroom Apartment, City Center (Monthly)

$1,235 CA$1,746

$2,579 ISK 312.8K

-52.10%

1-bedroom Apartment, Outside City Center (Monthly)

$1,104 CA$1,561

$2,080 ISK 252.3K

-46.93%

3-bedroom Apartment, City Center (Monthly)

$1,968 CA$2,782

$3,455 ISK 419.0K

-43.03%

3-bedroom Apartment, Outside City Center (Monthly)

$1,710 CA$2,417

$2,752 ISK 333.8K

-37.88%

Buy Apartment in City Center (m2)

$4,188 CA$5,920

$7,933 ISK 962.2K

-47.21%

Buy Apartment Outside City Center (m2)

$3,561 CA$5,034

$6,377 ISK 773.5K

-44.16%

Average Monthly Net Salary (After Tax)

$3,269 CA$4,622

$4,695 ISK 569.5K

-30.37%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.39

8.81

-27.47%

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

Last update for Labrador City: October 17, 2026

Last update for Reykjavik: October 20, 2026

Monthly budget structure

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

Accommodation & Living

Labrador City

$1.1K 46.7%

Reykjavik

$2.1K 51.7% 88.4% $976

Eating Out

Labrador City

$383 16.2%

Reykjavik

$532 13.2% 39% $149

Groceries & Markets

Labrador City

$343 14.5%

Reykjavik

$619 15.4% 80.4% $276

Monthly Utilities & Internet

Labrador City

$263 11.1%

Reykjavik

$216 5.4% 17.8% $47

Clothing & Footwear

Labrador City

$125 5.3%

Reykjavik

$294 7.3% 136% $170

Getting Around

Labrador City

$81 3.4%

Reykjavik

$139 3.5% 71.3% $58

Sport & Entertainment

Labrador City

$62 2.6%

Reykjavik

$141 3.5% 126% $78

Cost Breakdown

A one-bedroom apartment in the center runs $1,235 in Labrador City and $2,579 in Reykjavik. Housing cost is often the main lever when comparing two cities.

Reykjavik pays 44% more on average. The extra income cushions the higher costs, though housing choices and lifestyle decide how much of the gap is truly closed.

Dining out: $69.0 in Labrador City vs $123 in Reykjavik for a mid-range dinner for two. Groceries echo the gap at $343 vs $619 per month, with Labrador City cheaper across the board.

Good to know

🇨🇦 Labrador City

🇮🇸 Reykjavik

🕒 Local time

01:46 1:46 AM

04:46 4:46 AM

3 h ahead of Labrador City

🌤 Weather

👥 Population

7,400

136,894 Capital

💱 Currency

Canadian Dollar CAD $

Icelandic Króna ISK kr

📈 Exchange rate

1 CAD = 0.707 USD

1 CAD = 0.629 EUR

1,000 ISK = 8.24 USD

1,000 ISK = 7.33 EUR

Exchange rates and currency converter

ISK, USD, EUR to CAD – Canadian Dollar Converter

🇺🇸 United States Dollar ($)

🇨🇦 Canadian Dollar ($)

Canadian Dollar exchange rates as of October 21, 2026: 1 USD = 1.41 CAD (1 CAD = 0.707 USD). 1 EUR = 1.59 CAD (1 CAD = 0.629 EUR).

Icelandic Króna exchange rates as of October 21, 2026: 1 USD = 121 ISK (1,000 ISK = 8.24 USD). 1 EUR = 136 ISK (1,000 ISK = 7.33 EUR).

USD to CAD in detail →

On the map

Lowest

Highest

Between locations

Labrador City Reykjavik 2,810 km ≈ 4 h nonstop flight

From you

Labrador City
Reykjavik

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

Labrador City vs Reykjavik: Cost of Living - Frequently Asked Questions

Labrador City is cheaper overall, especially in eating out, groceries, and clothing. The 70% gap adds up to real monthly savings that compound significantly over time.

On paper, salaries run 44% lower in Reykjavik. That's worth factoring in alongside costs, though remote workers earning in a stronger currency may not notice the difference at all.

Rent for a central apartment: $1,235 in Labrador City versus $2,579 in Reykjavik. Housing is usually the single largest factor when comparing overall living costs between the two.

Dining out is cheaper in Labrador City – a meal for two runs $69.0 versus $123 in Reykjavik. If you eat out regularly, this makes a real dent in your monthly spending.

All in, you'll spend $2,361 per month in Labrador City versus $4,023 in Reykjavik – a 70% gap that adds up to real savings over time for anyone picking the cheaper option.

At $2,361 in Labrador City versus $4,023 in Reykjavik, a $2,500 budget is realistic in Labrador City but tight or insufficient in Reykjavik. The gap between the two cities makes Labrador City the clear choice for anyone on this budget.

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

Safety-wise, Labrador City and Reykjavik 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 Labrador City gentler on the wallet – expenses run 70% less than in Reykjavik. Beyond cost, consider language, visa policies, and how big the international community is in each city.