Last update: Oct 2026

Cost of Living Comparison Between Reykjavik and Charlottetown

For one person, living is cheaper in Charlottetown: $1,957 a month against $4,037 in Reykjavik, rent and utilities included – about $25,000 less a year. Rent and utilities account for most of the difference.

193

Cost of Living Index in Reykjavik
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Reykjavik Living Index
95

Cost of Living Index in Charlottetown
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Charlottetown Living Index

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Reykjavik

🇮🇸 Iceland

$4,037

/mo nomad

Charlottetown

🇨🇦 Canada

$1,957

/mo nomad

Monthly Cost of Living

How much you'll spend in Reykjavik and in Charlottetown

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

A single person spends $4,037 per month in Reykjavik vs $1,957 in Charlottetown, rent included.

Reykjavik $4,037
Charlottetown $1,957

A couple spends around $5,666 per month in Reykjavik vs $2,920 in Charlottetown, rent included.

Reykjavik $5,666
Charlottetown $2,920

A family of three spends $7,295 per month in Reykjavik vs $3,882 in Charlottetown, rent included.

Reykjavik $7,295
Charlottetown $3,882

Reykjavik costs about 106% more than Charlottetown, and outside of rent the biggest gap is in eating out.

Both Reykjavik and Charlottetown sit above the global median – Reykjavik by 201%, Charlottetown by 46%.

Meal at Budget Restaurant

$30.59 ISK 3,730

$14.00 CA$19.95

118.50%

Three-Course Dinner for Two, Mid-Range

$136 ISK 16.5K

$59.2 CA$84.3

129.10%

Fast Food Meal (McDonalds, etc)

$27.08 ISK 3,302

$9.23 CA$13.16

193.39%

Cappuccino

$6.72 ISK 819

$3.57 CA$5.08

88.24%

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

$3.27 ISK 399

$1.73 CA$2.46

89.02%

Water (0.33 liter bottle)

$3.16 ISK 386

$1.29 CA$1.84

144.96%

Local Beer (0.5 liter draught)

$13.91 ISK 1,696

$5.52 CA$7.87

151.99%

Imported Beer (0.33 liter bottle)

$12.06 ISK 1,470

$5.57 CA$7.94

116.52%

Milk (1 liter)

$2.04 ISK 248

$2.23 CA$3.18

-8.52%

White Bread (500g)

$4.32 ISK 527

$2.99 CA$4.27

44.48%

Rice (white) (1kg)

$3.67 ISK 447

$4.85 CA$6.91

-24.33%

Eggs

$7.02 ISK 856

$3.90 CA$5.56

80.00%

Local Cheese (1kg)

$22.01 ISK 2,684

$11.34 CA$16.16

94.09%

Chicken Fillets (1kg)

$24.70 ISK 3,012

$14.86 CA$21.18

66.22%

Beef Round Steak (1kg)

$42.66 ISK 5,202

$16.99 CA$24.22

151.09%

Apples (1kg)

$3.37 ISK 412

$3.52 CA$5.02

-4.26%

Banana (1kg)

$2.85 ISK 347

$1.45 CA$2.07

96.55%

Oranges (1kg)

$3.17 ISK 387

$3.91 CA$5.57

-18.93%

Tomato (1kg)

$6.39 ISK 779

$4.72 CA$6.73

35.38%

Potato (1kg)

$4.01 ISK 489

$1.72 CA$2.45

133.14%

Onion (1kg)

$1.64 ISK 200

$3.12 CA$4.44

-47.44%

Lettuce (1 head)

$3.80 ISK 463

$2.67 CA$3.81

42.32%

Water (1.5 liter bottle)

$1.74 ISK 212

$2.03 CA$2.90

-14.29%

Cigarettes 20 Pack (Marlboro, Camel)

$13.80 ISK 1,682

$17.45 CA$24.87

-20.92%

Wine (Bottle)

$23.38 ISK 2,851

$13.70 CA$19.52

70.66%

Local Beer (0.5 liter bottle)

$3.53 ISK 430

$3.25 CA$4.64

8.62%

Imported Beer (0.33 liter bottle)

$3.45 ISK 420

$3.09 CA$4.41

11.65%

One-way Ticket (Public Transport)

$5.77 ISK 704

$1.42 CA$2.03

306.34%

Public Transport Monthly Pass (Regular Price)

$95.1 ISK 11.6K

$14.18 CA$20.21

570.94%

Taxi Start (Normal Tariff)

$6.63 ISK 808

$7.29 CA$10.39

-9.05%

Taxi (Normal Tariff) (1km)

$2.79 ISK 341

$2.05 CA$2.93

36.10%

Taxi 1hour Waiting (Normal Tariff)

$81.4 ISK 9,923

$27.61 CA$39.35

194.71%

Gasoline (1 liter)

$2.11 ISK 257

$1.24 CA$1.77

70.16%

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

$50.8K ISK 6.2M

$27.6K CA$39.3K

84.10%

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

$52.7K ISK 6.4M

$18.3K CA$26.1K

187.57%

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

$88.7 ISK 10.8K

$124 CA$177

-28.53%

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

$31.53 ISK 3,845

$32.57 CA$46.42

-3.19%

Internet (50+ Mbps, Unlimited Data)

$84.6 ISK 10.3K

$73.0 CA$104

15.91%

Gym Membership (Monthly)

$100 ISK 12.2K

$56.9 CA$81.1

76.35%

Tennis Court (1 Hour on Weekend)

$48.20 ISK 5,877

$3.55 CA$5.06

1257.75%

Cinema Ticket

$19.87 ISK 2,424

$10.57 CA$15.07

87.98%

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

$1,277 ISK 155.8K

$157 CA$224

713.12%

International Primary School, 1 Child (Yearly)

$31.0K ISK 3.8M

Jeans (Levis 501 Or Similar)

$161 ISK 19.6K

$39.61 CA$56.5

306.11%

Summer Dress (H&M, Zara, etc)

$64.9 ISK 7,914

$33.73 CA$48.08

92.41%

Sport Shoes (Adidas, Nike)

$183 ISK 22.3K

$83.1 CA$118

119.73%

Men's Leather Business Shoes

$254 ISK 31.0K

$129 CA$184

96.18%

1-bedroom Apartment, City Center (Monthly)

$2,499 ISK 304.8K

$1,091 CA$1,555

129.11%

1-bedroom Apartment, Outside City Center (Monthly)

$2,000 ISK 243.9K

$823 CA$1,174

142.93%

3-bedroom Apartment, City Center (Monthly)

$3,452 ISK 421.0K

$1,747 CA$2,491

97.54%

3-bedroom Apartment, Outside City Center (Monthly)

$2,742 ISK 334.4K

$1,358 CA$1,936

101.94%

Buy Apartment in City Center (m2)

$8,001 ISK 975.7K

$3,107 CA$4,428

157.54%

Buy Apartment Outside City Center (m2)

$6,249 ISK 762.1K

$1,923 CA$2,741

224.94%

Average Monthly Net Salary (After Tax)

$4,691 ISK 572.0K

$2,415 CA$3,442

94.26%

20-Year Fixed Mortgage Interest Rate (Annual %)

8.81

4.58

92.36%

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

Last update for Reykjavik: October 4, 2026

Last update for Charlottetown: October 6, 2026

Monthly budget structure

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

Accommodation & Living

Reykjavik

$2K 50.9%

Charlottetown

$823 42.5% 58.8% $1.2K

Groceries & Markets

Reykjavik

$625 15.9%

Charlottetown

$408 21.1% 34.7% $217

Eating Out

Reykjavik

$526 13.4%

Charlottetown

$233 12% 55.6% $293

Clothing & Footwear

Reykjavik

$298 7.6%

Charlottetown

$129 6.6% 56.8% $169

Monthly Utilities & Internet

Reykjavik

$205 5.2%

Charlottetown

$230 11.9% 12.1% $25

Sport & Entertainment

Reykjavik

$140 3.6%

Charlottetown

$78 4% 44.3% $62

Getting Around

Reykjavik

$139 3.5%

Charlottetown

$37 1.9% 73% $101

Cost Breakdown

A central one-bedroom costs $2,499 in Reykjavik versus $1,091 in Charlottetown. Rent is usually the largest line item in a monthly budget, so the gap here sets the tone for the overall comparison.

Salaries run about 94% higher in Reykjavik, which partly offsets the higher cost of living there. Purchasing power depends on which expenses matter most to you.

A mid-range dinner for two costs $136 in Reykjavik versus $59.0 in Charlottetown. Monthly groceries follow the same trend: $625 vs $408 – making Charlottetown the more affordable choice for daily food spending.

Good to know

🇮🇸 Reykjavik

🇨🇦 Charlottetown

🕒 Local time

06:49 6:49 AM

03:49 3:49 AM

3 h behind Reykjavik

🌤 Weather

👥 Population

136,894 Capital

38,809

💱 Currency

Icelandic Króna ISK kr

Canadian Dollar CAD $

📈 Exchange rate

1,000 ISK = 8.2 USD

1,000 ISK = 7.31 EUR

1 CAD = 0.702 USD

1 CAD = 0.626 EUR

Exchange rates and currency converter

CAD, USD, EUR to ISK – Icelandic Króna Converter

🇺🇸 United States Dollar ($)

🇮🇸 Icelandic Króna (kr)

Icelandic Króna exchange rates as of October 10, 2026: 1 USD = 122 ISK (1,000 ISK = 8.2 USD). 1 EUR = 137 ISK (1,000 ISK = 7.31 EUR).

Canadian Dollar exchange rates as of October 10, 2026: 1 USD = 1.43 CAD (1 CAD = 0.702 USD). 1 EUR = 1.6 CAD (1 CAD = 0.626 EUR).

USD to ISK in detail →

On the map

Lowest

Highest

Between locations

Reykjavik Charlottetown 3,190 km ≈ 4 h 30 min nonstop flight

From you

Reykjavik
Charlottetown

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

Reykjavik vs Charlottetown: Cost of Living - Frequently Asked Questions

Reykjavik costs about 106% more than Charlottetown, and outside of rent the gap comes mainly from eating out. That's enough to noticeably affect everyday spending and lifestyle for anyone choosing between the two.

For a comfortable life, plan on about $6,055 per month in Reykjavik and $2,936 in Charlottetown. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Rent is clearly cheaper in Charlottetown, especially for central apartments. Housing is actually the single biggest factor behind the overall cost gap between these two cities.

Monthly expenses with rent come to $4,037 in Reykjavik and $1,957 in Charlottetown. That's a gap of about 106%.

Public transport costs about 571% less in Charlottetown. For daily commuters, that gap adds up to noticeable savings over a year.

A $2,000 monthly budget goes further in Charlottetown, where all-in costs run around $1,957, than in Reykjavik at $4,037. In Charlottetown it covers expenses comfortably, while in Reykjavik it requires careful planning or may not stretch far enough.

For digital nomads, it depends on budget. Charlottetown costs $1,957 versus $4,037 in Reykjavik. Both have workable remote work infrastructure, but the cost gap matters when income varies month to month.

Both have safer and rougher neighborhoods, but overall safety is comparable to other large cities. Neighborhood choice matters more than the city-level comparison – central, well-trafficked areas feel secure in both.

If budget matters most, go with Charlottetown. If higher salaries, better infrastructure, or specific career opportunities are the priority, Reykjavik makes more sense. Both are solid long-term options with distinct trade-offs.