Last update: Oct 2026

Cost of Living Comparison Between Reykjavik and Grand Falls-Windsor

For one person, living is cheaper in Grand Falls-Windsor: $2,254 a month against $4,037 in Reykjavik, rent and utilities included – about $21,400 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
108

Cost of Living Index in Grand Falls-Windsor
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Grand Falls-Windsor Living Index

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Reykjavik

🇮🇸 Iceland

$4,037

/mo nomad

Grand Falls-Windsor

🇨🇦 Canada

$2,254

/mo nomad

Monthly Cost of Living

How much you'll spend in Reykjavik and in Grand Falls-Windsor

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 Grand Falls-Windsor actually costs, broken down by who's living it.

A single person spends $4,037 per month in Reykjavik vs $2,254 in Grand Falls-Windsor, rent included.

Reykjavik $4,037
Grand Falls-Windsor $2,254

A couple spends around $5,666 per month in Reykjavik vs $3,219 in Grand Falls-Windsor, rent included.

Reykjavik $5,666
Grand Falls-Windsor $3,219

A family of three spends $7,295 per month in Reykjavik vs $4,185 in Grand Falls-Windsor, rent included.

Reykjavik $7,295
Grand Falls-Windsor $4,185

Reykjavik costs about 79% more than Grand Falls-Windsor, and outside of rent the biggest gap is in groceries.

Both Reykjavik and Grand Falls-Windsor sit above the global median – Reykjavik by 201%, Grand Falls-Windsor by 68%.

Meal at Budget Restaurant

$30.59 ISK 3,727

$14.97 CA$21.30

104.34%

Three-Course Dinner for Two, Mid-Range

$136 ISK 16.5K

$56.7 CA$80.6

139.08%

Fast Food Meal (McDonalds, etc)

$27.08 ISK 3,300

$9.36 CA$13.32

189.32%

Cappuccino

$6.72 ISK 818

$3.56 CA$5.06

88.76%

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

$3.27 ISK 399

$2.07 CA$2.95

57.97%

Water (0.33 liter bottle)

$3.16 ISK 386

$1.76 CA$2.50

79.55%

Local Beer (0.5 liter draught)

$13.91 ISK 1,695

$4.81 CA$6.85

189.19%

Imported Beer (0.33 liter bottle)

$12.06 ISK 1,469

$5.48 CA$7.79

120.07%

Milk (1 liter)

$2.04 ISK 248

$2.10 CA$2.98

-2.86%

White Bread (500g)

$4.32 ISK 526

$2.46 CA$3.49

75.61%

Rice (white) (1kg)

$3.67 ISK 447

$2.95 CA$4.20

24.41%

Eggs

$7.02 ISK 855

$3.56 CA$5.07

97.19%

Local Cheese (1kg)

$22.01 ISK 2,682

$10.19 CA$14.50

116.00%

Chicken Fillets (1kg)

$24.70 ISK 3,009

$9.97 CA$14.18

147.74%

Beef Round Steak (1kg)

$42.66 ISK 5,198

$14.86 CA$21.14

187.08%

Apples (1kg)

$3.37 ISK 411

$3.74 CA$5.32

-9.89%

Banana (1kg)

$2.85 ISK 347

$1.29 CA$1.84

120.93%

Oranges (1kg)

$3.17 ISK 387

$3.84 CA$5.46

-17.45%

Tomato (1kg)

$6.39 ISK 779

$3.41 CA$4.85

87.39%

Potato (1kg)

$4.01 ISK 489

$2.13 CA$3.03

88.26%

Onion (1kg)

$1.64 ISK 200

$1.87 CA$2.67

-12.30%

Lettuce (1 head)

$3.80 ISK 462

$2.46 CA$3.49

54.47%

Water (1.5 liter bottle)

$1.74 ISK 212

$1.59 CA$2.26

9.43%

Cigarettes 20 Pack (Marlboro, Camel)

$13.80 ISK 1,681

$12.36 CA$17.59

11.65%

Wine (Bottle)

$23.38 ISK 2,849

$14.30 CA$20.35

63.50%

Local Beer (0.5 liter bottle)

$3.53 ISK 430

$2.31 CA$3.28

52.81%

Imported Beer (0.33 liter bottle)

$3.45 ISK 420

$2.71 CA$3.85

27.31%

One-way Ticket (Public Transport)

$5.77 ISK 703

$2.05 CA$2.91

181.46%

Public Transport Monthly Pass (Regular Price)

$95.1 ISK 11.6K

$69.5 CA$98.9

36.83%

Taxi Start (Normal Tariff)

$6.63 ISK 808

$3.10 CA$4.41

113.87%

Taxi (Normal Tariff) (1km)

$2.79 ISK 340

$1.29 CA$1.83

116.28%

Taxi 1hour Waiting (Normal Tariff)

$81.4 ISK 9,915

$21.92 CA$31.18

271.21%

Gasoline (1 liter)

$2.11 ISK 257

$1.18 CA$1.68

78.81%

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

$50.8K ISK 6.2M

$31.1K CA$44.3K

63.29%

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

$52.7K ISK 6.4M

$18.6K CA$26.5K

183.06%

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

$88.7 ISK 10.8K

$155 CA$220

-42.72%

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

$31.53 ISK 3,842

$39.33 CA$55.9

-19.83%

Internet (50+ Mbps, Unlimited Data)

$84.6 ISK 10.3K

$57.3 CA$81.5

47.69%

Gym Membership (Monthly)

$100 ISK 12.2K

$41.67 CA$59.3

140.89%

Tennis Court (1 Hour on Weekend)

$48.20 ISK 5,873

$17.04 CA$24.23

182.86%

Cinema Ticket

$19.87 ISK 2,422

$9.55 CA$13.59

108.06%

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

$1,277 ISK 155.7K

$855 CA$1,216

49.43%

International Primary School, 1 Child (Yearly)

$31.0K ISK 3.8M

$12.0K CA$17.0K

158.75%

Jeans (Levis 501 Or Similar)

$161 ISK 19.6K

$60.1 CA$85.4

167.79%

Summer Dress (H&M, Zara, etc)

$64.9 ISK 7,908

$42.16 CA$60.0

53.94%

Sport Shoes (Adidas, Nike)

$183 ISK 22.3K

$96.4 CA$137

89.56%

Men's Leather Business Shoes

$254 ISK 30.9K

$103 CA$146

146.70%

1-bedroom Apartment, City Center (Monthly)

$2,499 ISK 304.6K

$1,254 CA$1,783

99.37%

1-bedroom Apartment, Outside City Center (Monthly)

$2,000 ISK 243.7K

$1,235 CA$1,756

62.01%

3-bedroom Apartment, City Center (Monthly)

$3,452 ISK 420.6K

$2,166 CA$3,081

59.38%

3-bedroom Apartment, Outside City Center (Monthly)

$2,742 ISK 334.2K

$1,769 CA$2,516

55.06%

Buy Apartment in City Center (m2)

$8,001 ISK 974.9K

$4,023 CA$5,722

98.88%

Buy Apartment Outside City Center (m2)

$6,249 ISK 761.5K

$3,435 CA$4,885

81.94%

Average Monthly Net Salary (After Tax)

$4,691 ISK 571.6K

20-Year Fixed Mortgage Interest Rate (Annual %)

8.81

4.64

89.87%

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

Last update for Reykjavik: October 4, 2026

Last update for Grand Falls-Windsor: October 4, 2026

Monthly budget structure

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

Accommodation & Living

Reykjavik

$2K 50.9%

Grand Falls-Windsor

$1.2K 52.5% 38.3% $766

Groceries & Markets

Reykjavik

$625 15.9%

Grand Falls-Windsor

$340 14.5% 45.6% $285

Eating Out

Reykjavik

$526 13.4%

Grand Falls-Windsor

$241 10.3% 54.2% $285

Clothing & Footwear

Reykjavik

$298 7.6%

Grand Falls-Windsor

$136 5.8% 54.5% $162

Monthly Utilities & Internet

Reykjavik

$205 5.2%

Grand Falls-Windsor

$251 10.7% 22.7% $47

Sport & Entertainment

Reykjavik

$140 3.6%

Grand Falls-Windsor

$61 2.6% 56.6% $79

Getting Around

Reykjavik

$139 3.5%

Grand Falls-Windsor

$87 3.7% 37.1% $52

Cost Breakdown

A central one-bedroom costs $2,499 in Reykjavik versus $1,254 in Grand Falls-Windsor. Rent is usually the largest line item in a monthly budget, so the gap here sets the tone for the overall comparison.

A mid-range dinner for two costs $136 in Reykjavik versus $57.0 in Grand Falls-Windsor. Monthly groceries follow the same trend: $625 vs $340 – making Grand Falls-Windsor the more affordable choice for daily food spending.

Good to know

🇮🇸 Reykjavik

🇨🇦 Grand Falls-Windsor

🕒 Local time

09:56 9:56 AM

07:26 7:26 AM

2 h 30 min behind Reykjavik

🌤 Weather

👥 Population

136,894 Capital

13,725

💱 Currency

Icelandic Króna ISK kr

Canadian Dollar CAD $

📈 Exchange rate

1,000 ISK = 8.21 USD

1,000 ISK = 7.32 EUR

1 CAD = 0.703 USD

1 CAD = 0.627 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 = 8.21 USD). 1 EUR = 137 ISK (1,000 ISK = 7.32 EUR).

Canadian Dollar exchange rates as of October 10, 2026: 1 USD = 1.42 CAD (1 CAD = 0.703 USD). 1 EUR = 1.59 CAD (1 CAD = 0.627 EUR).

USD to ISK in detail →

On the map

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Highest

Between locations

Reykjavik Grand Falls-Windsor 2,620 km ≈ 3 h 45 min nonstop flight

From you

Reykjavik
Grand Falls-Windsor

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 Grand Falls-Windsor: Cost of Living - Frequently Asked Questions

Yes – Reykjavik is pricier by about 79%, and outside of rent the gap shows up most in groceries.

For a comfortable life, plan on about $6,055 per month in Reykjavik and $3,381 in Grand Falls-Windsor. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

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

Public transport costs about 37% less in Grand Falls-Windsor. For daily commuters, that gap adds up to noticeable savings over a year.

Kindergarten costs $1,277 per month in Reykjavik and $855 in Grand Falls-Windsor. For families with young kids, this one expense can tip the scales when choosing between the two cities.

A $2,500 monthly budget goes further in Grand Falls-Windsor, where all-in costs run around $2,254, than in Reykjavik at $4,037. In Grand Falls-Windsor it covers expenses comfortably, while in Reykjavik it requires careful planning or may not stretch far enough.

Families tend to lean toward Grand Falls-Windsor – lower housing and cheaper childcare make a real difference, especially on a single income or when paying for private education.

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 Grand Falls-Windsor. 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.