Last update: Oct 2026

Cost of Living Comparison Between Reykjavik and Summerside, PE

For one person, living is cheaper in Summerside, PE: $1,773 a month against $4,002 in Reykjavik, rent and utilities included – about $26,700 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
87

Cost of Living Index in Summerside, PE
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Summerside, PE Living Index

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Reykjavik

🇮🇸 Iceland

$4,002

/mo nomad

Summerside, PE

🇨🇦 Canada

$1,773

/mo nomad

Monthly Cost of Living

How much you'll spend in Reykjavik and in Summerside, PE

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

A single person spends $4,002 per month in Reykjavik vs $1,773 in Summerside, PE, rent included.

Reykjavik $4,002
Summerside, PE $1,773

A couple spends around $5,705 per month in Reykjavik vs $2,575 in Summerside, PE, rent included.

Reykjavik $5,705
Summerside, PE $2,575

A family of three spends $7,407 per month in Reykjavik vs $3,377 in Summerside, PE, rent included.

Reykjavik $7,407
Summerside, PE $3,377

Reykjavik costs about 126% more than Summerside, PE, and outside of rent the biggest gap is in groceries.

Both Reykjavik and Summerside, PE sit above the global median – Reykjavik by 196%, Summerside, PE by 31%.

Meal at Budget Restaurant

$31.56 ISK 3,834

$21.01 CA$29.86

50.21%

Three-Course Dinner for Two, Mid-Range

$122 ISK 14.9K

$53.8 CA$76.4

127.59%

Fast Food Meal (McDonalds, etc)

$26.86 ISK 3,263

$10.22 CA$14.52

162.82%

Cappuccino

$6.81 ISK 828

$3.61 CA$5.13

88.64%

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

$3.39 ISK 411

$1.61 CA$2.29

110.56%

Water (0.33 liter bottle)

$3.20 ISK 389

$2.07 CA$2.94

54.59%

Local Beer (0.5 liter draught)

$14.14 ISK 1,717

$4.91 CA$6.98

187.98%

Imported Beer (0.33 liter bottle)

$12.31 ISK 1,495

$4.59 CA$6.52

168.19%

Milk (1 liter)

$2.10 ISK 255

$1.67 CA$2.37

25.75%

White Bread (500g)

$4.19 ISK 509

$2.72 CA$3.87

54.04%

Rice (white) (1kg)

$3.72 ISK 452

$2.56 CA$3.63

45.31%

Eggs

$7.05 ISK 857

$3.80 CA$5.40

85.53%

Local Cheese (1kg)

$21.56 ISK 2,619

$9.21 CA$13.09

134.09%

Chicken Fillets (1kg)

$24.68 ISK 2,998

$8.72 CA$12.39

183.03%

Beef Round Steak (1kg)

$42.19 ISK 5,125

$9.25 CA$13.14

356.11%

Apples (1kg)

$3.23 ISK 393

$4.56 CA$6.47

-29.17%

Banana (1kg)

$2.73 ISK 332

$1.50 CA$2.13

82.00%

Oranges (1kg)

$3.17 ISK 385

$3.46 CA$4.91

-8.38%

Tomato (1kg)

$6.61 ISK 804

$3.74 CA$5.32

76.74%

Potato (1kg)

$3.85 ISK 467

$2.55 CA$3.62

50.98%

Onion (1kg)

$1.66 ISK 201

$1.56 CA$2.21

6.41%

Lettuce (1 head)

$3.80 ISK 462

$2.13 CA$3.02

78.40%

Water (1.5 liter bottle)

$1.75 ISK 212

$1.63 CA$2.31

7.36%

Cigarettes 20 Pack (Marlboro, Camel)

$13.71 ISK 1,665

$11.08 CA$15.75

23.74%

Wine (Bottle)

$24.21 ISK 2,942

$11.91 CA$16.93

103.27%

Local Beer (0.5 liter bottle)

$3.53 ISK 429

$4.16 CA$5.91

-15.14%

Imported Beer (0.33 liter bottle)

$3.32 ISK 403

$3.58 CA$5.09

-7.26%

One-way Ticket (Public Transport)

$5.75 ISK 698

$1.38 CA$1.97

316.67%

Public Transport Monthly Pass (Regular Price)

$93.8 ISK 11.4K

$45.19 CA$64.2

107.59%

Taxi Start (Normal Tariff)

$6.61 ISK 804

$2.86 CA$4.06

131.12%

Taxi (Normal Tariff) (1km)

$2.90 ISK 352

$1.36 CA$1.93

113.24%

Taxi 1hour Waiting (Normal Tariff)

$79.2 ISK 9,617

$21.19 CA$30.11

273.57%

Gasoline (1 liter)

$2.09 ISK 254

$1.18 CA$1.68

77.12%

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

$51.0K ISK 6.2M

$26.0K CA$36.9K

96.53%

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

$53.3K ISK 6.5M

$18.8K CA$26.8K

182.86%

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

$95.3 ISK 11.6K

$115 CA$163

-16.98%

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

$32.35 ISK 3,929

$66.0 CA$93.8

-50.99%

Internet (50+ Mbps, Unlimited Data)

$87.5 ISK 10.6K

$69.3 CA$98.4

26.39%

Gym Membership (Monthly)

$102 ISK 12.4K

$30.81 CA$43.80

230.61%

Tennis Court (1 Hour on Weekend)

$50.1 ISK 6,083

$10.67 CA$15.17

369.35%

Cinema Ticket

$19.88 ISK 2,415

$10.09 CA$14.34

97.03%

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

$1,194 ISK 145.0K

$582 CA$828

105.06%

International Primary School, 1 Child (Yearly)

$25.4K ISK 3.1M

$1,652 CA$2,347

1438.53%

Jeans (Levis 501 Or Similar)

$149 ISK 18.1K

$49.67 CA$70.6

200.04%

Summer Dress (H&M, Zara, etc)

$66.6 ISK 8,093

$24.57 CA$34.92

171.14%

Sport Shoes (Adidas, Nike)

$180 ISK 21.9K

$66.4 CA$94.4

170.99%

Men's Leather Business Shoes

$253 ISK 30.8K

$65.2 CA$92.7

288.17%

1-bedroom Apartment, City Center (Monthly)

$2,549 ISK 309.7K

$926 CA$1,316

175.34%

1-bedroom Apartment, Outside City Center (Monthly)

$2,056 ISK 249.8K

$705 CA$1,002

191.49%

3-bedroom Apartment, City Center (Monthly)

$3,498 ISK 424.9K

$1,653 CA$2,350

111.57%

3-bedroom Apartment, Outside City Center (Monthly)

$2,764 ISK 335.7K

$1,030 CA$1,463

168.44%

Buy Apartment in City Center (m2)

$8,120 ISK 986.4K

Buy Apartment Outside City Center (m2)

$6,254 ISK 759.7K

$1,114 CA$1,584

461.27%

Average Monthly Net Salary (After Tax)

$4,573 ISK 555.5K

$2,354 CA$3,346

94.24%

20-Year Fixed Mortgage Interest Rate (Annual %)

8.81

4.77

84.70%

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

Last update for Reykjavik: October 12, 2026

Last update for Summerside, PE: October 10, 2026

Monthly budget structure

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

Accommodation & Living

Reykjavik

$2.1K 51.4%

Summerside, PE

$705 39.8% 65.7% $1.4K

Groceries & Markets

Reykjavik

$623 15.6%

Summerside, PE

$323 18.2% 48.1% $299

Eating Out

Reykjavik

$536 13.4%

Summerside, PE

$291 16.4% 45.8% $246

Clothing & Footwear

Reykjavik

$292 7.3%

Summerside, PE

$93 5.2% 68.3% $199

Monthly Utilities & Internet

Reykjavik

$215 5.4%

Summerside, PE

$250 14.1% 16.2% $35

Sport & Entertainment

Reykjavik

$142 3.5%

Summerside, PE

$51 2.9% 64% $91

Getting Around

Reykjavik

$138 3.5%

Summerside, PE

$60 3.4% 56.2% $78

Cost Breakdown

A central one-bedroom costs $2,549 in Reykjavik versus $926 in Summerside, PE. 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 $122 in Reykjavik versus $54.0 in Summerside, PE. Monthly groceries follow the same trend: $623 vs $323 – making Summerside, PE the more affordable choice for daily food spending.

Good to know

🇮🇸 Reykjavik

🇨🇦 Summerside, PE

🕒 Local time

03:18 3:18 AM

00:18 12:18 AM

3 h behind Reykjavik

🌤 Weather

👥 Population

136,894 Capital

16,001

💱 Currency

Icelandic Króna ISK kr

Canadian Dollar CAD $

📈 Exchange rate

1,000 ISK = 8.23 USD

1,000 ISK = 7.35 EUR

1 CAD = 0.704 USD

1 CAD = 0.628 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 15, 2026: 1 USD = 121 ISK (1,000 ISK = 8.23 USD). 1 EUR = 136 ISK (1,000 ISK = 7.35 EUR).

Canadian Dollar exchange rates as of October 15, 2026: 1 USD = 1.42 CAD (1 CAD = 0.704 USD). 1 EUR = 1.59 CAD (1 CAD = 0.628 EUR).

USD to ISK in detail →

On the map

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Between locations

Reykjavik Summerside, PE 3,210 km ≈ 4 h 30 min nonstop flight

From you

Reykjavik
Summerside, PE

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 Summerside, PE: Cost of Living - Frequently Asked Questions

Reykjavik costs about 126% more than Summerside, PE, and outside of rent the gap comes mainly from groceries. That's enough to noticeably affect everyday spending and lifestyle for anyone choosing between the two.

For a comfortable life, plan on about $6,003 per month in Reykjavik and $2,660 in Summerside, PE. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Rent is clearly cheaper in Summerside, PE, 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 $4,002 in Reykjavik and $1,773 in Summerside, PE. That's a gap of about 126%.

Public transport costs about 108% less in Summerside, PE. For daily commuters, that gap adds up to noticeable savings over a year.

A $2,000 monthly budget goes further in Summerside, PE, where all-in costs run around $1,773, than in Reykjavik at $4,002. In Summerside, PE it covers expenses comfortably, while in Reykjavik it requires careful planning or may not stretch far enough.

For digital nomads, it depends on budget. Summerside, PE costs $1,773 versus $4,002 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 Summerside, PE. 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.