Last update: Oct 2026

Cost of Living Comparison Between Reykjavik and Halifax

For one person, living is cheaper in Halifax: $2,453 a month against $4,037 in Reykjavik, rent and utilities included – about $19,000 less a year. Rent and utilities account for about half of the difference.

193

Cost of Living Index in Reykjavik
Learn more

Reykjavik Living Index
120

Cost of Living Index in Halifax
Learn more

Halifax Living Index

Jump to prices

Reykjavik

🇮🇸 Iceland

$4,037

/mo nomad

Halifax

🇨🇦 Canada

$2,453

/mo nomad

Monthly Cost of Living

How much you'll spend in Reykjavik and in Halifax

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 Halifax actually costs, broken down by who's living it.

A single person spends $4,037 per month in Reykjavik vs $2,453 in Halifax, rent included.

Reykjavik $4,037
Halifax $2,453

A couple spends around $5,666 per month in Reykjavik vs $3,578 in Halifax, rent included.

Reykjavik $5,666
Halifax $3,578

A family of three spends $7,295 per month in Reykjavik vs $4,702 in Halifax, rent included.

Reykjavik $7,295
Halifax $4,702

Reykjavik costs about 65% more than Halifax, and outside of rent the biggest gap is in eating out.

Both Reykjavik and Halifax sit above the global median – Reykjavik by 201%, Halifax by 83%.

Meal at Budget Restaurant

$30.59 ISK 3,727

$17.67 CA$25.13

73.12%

Three-Course Dinner for Two, Mid-Range

$136 ISK 16.5K

$70.9 CA$101

91.21%

Fast Food Meal (McDonalds, etc)

$27.08 ISK 3,300

$10.32 CA$14.68

162.40%

Cappuccino

$6.72 ISK 818

$4.39 CA$6.25

53.08%

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

$3.27 ISK 399

$2.28 CA$3.24

43.42%

Water (0.33 liter bottle)

$3.16 ISK 386

$1.79 CA$2.55

76.54%

Local Beer (0.5 liter draught)

$13.91 ISK 1,695

$5.50 CA$7.83

152.91%

Imported Beer (0.33 liter bottle)

$12.06 ISK 1,469

$6.41 CA$9.11

88.14%

Milk (1 liter)

$2.04 ISK 248

$2.36 CA$3.36

-13.56%

White Bread (500g)

$4.32 ISK 526

$2.66 CA$3.79

62.41%

Rice (white) (1kg)

$3.67 ISK 447

$3.88 CA$5.51

-5.41%

Eggs

$7.02 ISK 855

$3.87 CA$5.50

81.40%

Local Cheese (1kg)

$22.01 ISK 2,682

$8.69 CA$12.36

153.28%

Chicken Fillets (1kg)

$24.70 ISK 3,009

$12.77 CA$18.16

93.42%

Beef Round Steak (1kg)

$42.66 ISK 5,198

$14.37 CA$20.43

196.87%

Apples (1kg)

$3.37 ISK 411

$5.01 CA$7.12

-32.73%

Banana (1kg)

$2.85 ISK 347

$1.75 CA$2.50

62.86%

Oranges (1kg)

$3.17 ISK 387

$4.17 CA$5.92

-23.98%

Tomato (1kg)

$6.39 ISK 779

$4.93 CA$7.01

29.61%

Potato (1kg)

$4.01 ISK 489

$2.73 CA$3.89

46.89%

Onion (1kg)

$1.64 ISK 200

$3.02 CA$4.29

-45.70%

Lettuce (1 head)

$3.80 ISK 462

$2.71 CA$3.85

40.22%

Water (1.5 liter bottle)

$1.74 ISK 212

$1.98 CA$2.82

-12.12%

Cigarettes 20 Pack (Marlboro, Camel)

$13.80 ISK 1,681

$16.62 CA$23.64

-16.97%

Wine (Bottle)

$23.38 ISK 2,849

$16.74 CA$23.81

39.67%

Local Beer (0.5 liter bottle)

$3.53 ISK 430

$4.73 CA$6.73

-25.37%

Imported Beer (0.33 liter bottle)

$3.45 ISK 420

$5.27 CA$7.50

-34.54%

One-way Ticket (Public Transport)

$5.77 ISK 703

$2.08 CA$2.96

177.40%

Public Transport Monthly Pass (Regular Price)

$95.1 ISK 11.6K

$64.2 CA$91.3

48.26%

Taxi Start (Normal Tariff)

$6.63 ISK 808

$3.26 CA$4.63

103.37%

Taxi (Normal Tariff) (1km)

$2.79 ISK 340

$1.25 CA$1.78

123.20%

Taxi 1hour Waiting (Normal Tariff)

$81.4 ISK 9,915

$21.42 CA$30.47

279.88%

Gasoline (1 liter)

$2.11 ISK 257

$1.31 CA$1.86

61.07%

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

$50.8K ISK 6.2M

$27.3K CA$38.9K

85.88%

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

$52.7K ISK 6.4M

$21.4K CA$30.4K

146.66%

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

$88.7 ISK 10.8K

$144 CA$205

-38.47%

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

$31.53 ISK 3,842

$42.03 CA$59.8

-24.98%

Internet (50+ Mbps, Unlimited Data)

$84.6 ISK 10.3K

$66.9 CA$95.2

26.48%

Gym Membership (Monthly)

$100 ISK 12.2K

$39.57 CA$56.3

153.68%

Tennis Court (1 Hour on Weekend)

$48.20 ISK 5,873

$18.25 CA$25.95

164.11%

Cinema Ticket

$19.87 ISK 2,422

$11.02 CA$15.67

80.31%

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

$1,277 ISK 155.7K

$961 CA$1,366

32.98%

International Primary School, 1 Child (Yearly)

$31.0K ISK 3.8M

$15.2K CA$21.6K

103.48%

Jeans (Levis 501 Or Similar)

$161 ISK 19.6K

$58.8 CA$83.7

173.43%

Summer Dress (H&M, Zara, etc)

$64.9 ISK 7,908

$32.42 CA$46.12

100.19%

Sport Shoes (Adidas, Nike)

$183 ISK 22.3K

$97.7 CA$139

87.04%

Men's Leather Business Shoes

$254 ISK 30.9K

$114 CA$163

122.19%

1-bedroom Apartment, City Center (Monthly)

$2,499 ISK 304.6K

$1,439 CA$2,046

73.72%

1-bedroom Apartment, Outside City Center (Monthly)

$2,000 ISK 243.7K

$1,265 CA$1,799

58.11%

3-bedroom Apartment, City Center (Monthly)

$3,452 ISK 420.6K

$2,453 CA$3,489

40.71%

3-bedroom Apartment, Outside City Center (Monthly)

$2,742 ISK 334.2K

$1,900 CA$2,703

44.32%

Buy Apartment in City Center (m2)

$8,001 ISK 974.9K

$3,214 CA$4,571

148.95%

Buy Apartment Outside City Center (m2)

$6,249 ISK 761.5K

$2,743 CA$3,901

127.86%

Average Monthly Net Salary (After Tax)

$4,691 ISK 571.6K

$2,784 CA$3,959

68.51%

20-Year Fixed Mortgage Interest Rate (Annual %)

8.81

4.95

77.98%

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

Last update for Reykjavik: October 4, 2026

Last update for Halifax: October 4, 2026

Monthly budget structure

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

Accommodation & Living

Reykjavik

$2K 50.9%

Halifax

$1.3K 50.9% 36.8% $735

Groceries & Markets

Reykjavik

$625 15.9%

Halifax

$408 16.4% 34.8% $217

Eating Out

Reykjavik

$526 13.4%

Halifax

$282 11.3% 46.4% $244

Clothing & Footwear

Reykjavik

$298 7.6%

Halifax

$136 5.5% 54.2% $162

Monthly Utilities & Internet

Reykjavik

$205 5.2%

Halifax

$253 10.2% 23.5% $48

Sport & Entertainment

Reykjavik

$140 3.6%

Halifax

$62 2.5% 56% $79

Getting Around

Reykjavik

$139 3.5%

Halifax

$82 3.3% 40.9% $57

Cost Breakdown

A central one-bedroom costs $2,499 in Reykjavik versus $1,439 in Halifax. 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 69% 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 $71.0 in Halifax. Monthly groceries follow the same trend: $625 vs $408 – making Halifax the more affordable choice for daily food spending.

Good to know

🇮🇸 Reykjavik

🇨🇦 Halifax

🕒 Local time

07:34 7:34 AM

04:34 4:34 AM

3 h behind Reykjavik

🌤 Weather

👥 Population

136,894 Capital

403,131

💱 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 = 1.6 CAD (1 CAD = 0.627 EUR).

USD to ISK in detail →

On the map

Lowest

Highest

Between locations

Reykjavik Halifax 3,360 km ≈ 4 h 45 min nonstop flight

From you

Reykjavik
Halifax

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 Halifax: Cost of Living - Frequently Asked Questions

Monthly costs with rent: $4,037 in Reykjavik, $2,453 in Halifax – roughly 65% apart. Outside of rent, the biggest gap is in eating out.

For a comfortable life, plan on about $6,055 per month in Reykjavik and $3,680 in Halifax. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

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

Public transport costs about 48% less in Halifax. For daily commuters, that gap adds up to noticeable savings over a year.

Kindergarten costs $1,277 per month in Reykjavik and $961 in Halifax. For families with young kids, this one expense can tip the scales when choosing between the two cities.

$3,000 is a stretch for both – monthly costs hit $4,037 in Reykjavik and $2,453 in Halifax. You'll need shared housing and careful budgeting no matter which city you pick.

It depends on your priorities. Reykjavik has an edge in some lifestyle areas, with costs from $2,453 in Halifax to $4,037 in Reykjavik. Climate, culture, job market, and personal taste all factor in.

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 Halifax. 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.