Last update: Oct 2026

Cost of Living Comparison Between Reykjavik and Sydney, NS

For one person, living is cheaper in Sydney, NS: $1,595 a month against $4,002 in Reykjavik, rent and utilities included – about $28,900 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
78

Cost of Living Index in Sydney, NS
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Sydney, NS Living Index

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Reykjavik

🇮🇸 Iceland

$4,002

/mo nomad

Sydney, NS

🇨🇦 Canada

$1,595

/mo nomad

Monthly Cost of Living

How much you'll spend in Reykjavik and in Sydney, NS

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

A single person spends $4,002 per month in Reykjavik vs $1,595 in Sydney, NS, rent included.

Reykjavik $4,002
Sydney, NS $1,595

A couple spends around $5,705 per month in Reykjavik vs $2,519 in Sydney, NS, rent included.

Reykjavik $5,705
Sydney, NS $2,519

A family of three spends $7,407 per month in Reykjavik vs $3,443 in Sydney, NS, rent included.

Reykjavik $7,407
Sydney, NS $3,443

Reykjavik costs about 151% more than Sydney, NS, and outside of rent the biggest gap is in eating out.

Both Reykjavik and Sydney, NS sit above the global median – Reykjavik by 196%, Sydney, NS by 18%.

Meal at Budget Restaurant

$31.56 ISK 3,828

$11.02 CA$15.57

186.39%

Three-Course Dinner for Two, Mid-Range

$122 ISK 14.8K

$63.5 CA$89.7

92.80%

Fast Food Meal (McDonalds, etc)

$26.86 ISK 3,258

$7.36 CA$10.40

264.95%

Cappuccino

$6.81 ISK 827

$2.84 CA$4.02

139.79%

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

$3.39 ISK 411

$2.29 CA$3.23

48.03%

Water (0.33 liter bottle)

$3.20 ISK 388

$2.06 CA$2.91

55.34%

Local Beer (0.5 liter draught)

$14.14 ISK 1,715

Imported Beer (0.33 liter bottle)

$12.31 ISK 1,493

Milk (1 liter)

$2.10 ISK 255

$2.24 CA$3.16

-6.25%

White Bread (500g)

$4.19 ISK 508

$2.48 CA$3.51

68.95%

Rice (white) (1kg)

$3.72 ISK 451

$2.41 CA$3.41

54.36%

Eggs

$7.05 ISK 856

$3.19 CA$4.50

121.00%

Local Cheese (1kg)

$21.56 ISK 2,615

$6.29 CA$8.89

242.77%

Chicken Fillets (1kg)

$24.68 ISK 2,993

$8.04 CA$11.36

206.97%

Beef Round Steak (1kg)

$42.19 ISK 5,117

$13.06 CA$18.47

223.05%

Apples (1kg)

$3.23 ISK 392

$7.04 CA$9.96

-54.12%

Banana (1kg)

$2.73 ISK 331

$1.19 CA$1.68

129.41%

Oranges (1kg)

$3.17 ISK 384

Tomato (1kg)

$6.61 ISK 802

$1.43 CA$2.02

362.24%

Potato (1kg)

$3.85 ISK 467

$0.78 CA$1.10

393.59%

Onion (1kg)

$1.66 ISK 201

$1.95 CA$2.76

-14.87%

Lettuce (1 head)

$3.80 ISK 461

$6.41 CA$9.06

-40.72%

Water (1.5 liter bottle)

$1.75 ISK 212

Cigarettes 20 Pack (Marlboro, Camel)

$13.71 ISK 1,662

$17.79 CA$25.15

-22.93%

Wine (Bottle)

$24.21 ISK 2,937

Local Beer (0.5 liter bottle)

$3.53 ISK 428

Imported Beer (0.33 liter bottle)

$3.32 ISK 402

$4.21 CA$5.96

-21.14%

One-way Ticket (Public Transport)

$5.75 ISK 697

$1.08 CA$1.53

432.41%

Public Transport Monthly Pass (Regular Price)

$93.8 ISK 11.4K

$47.58 CA$67.3

97.16%

Taxi Start (Normal Tariff)

$6.61 ISK 802

$4.10 CA$5.80

61.22%

Taxi (Normal Tariff) (1km)

$2.90 ISK 352

Taxi 1hour Waiting (Normal Tariff)

$79.2 ISK 9,602

Gasoline (1 liter)

$2.09 ISK 253

$1.17 CA$1.66

78.63%

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

$51.0K ISK 6.2M

$25.6K CA$36.2K

99.21%

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

$53.3K ISK 6.5M

$19.0K CA$26.9K

179.97%

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

$95.3 ISK 11.6K

$88.1 CA$124

8.18%

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

$32.35 ISK 3,923

$34.80 CA$49.20

-7.04%

Internet (50+ Mbps, Unlimited Data)

$87.5 ISK 10.6K

$73.5 CA$104

19.18%

Gym Membership (Monthly)

$102 ISK 12.4K

$47.87 CA$67.7

112.78%

Tennis Court (1 Hour on Weekend)

$50.1 ISK 6,074

$3.40 CA$4.80

1372.94%

Cinema Ticket

$19.88 ISK 2,412

$6.93 CA$9.80

186.87%

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

$1,194 ISK 144.8K

$698 CA$987

70.98%

International Primary School, 1 Child (Yearly)

$25.4K ISK 3.1M

Jeans (Levis 501 Or Similar)

$149 ISK 18.1K

$67.6 CA$95.6

120.33%

Summer Dress (H&M, Zara, etc)

$66.6 ISK 8,080

$66.2 CA$93.6

0.66%

Sport Shoes (Adidas, Nike)

$180 ISK 21.8K

$99.2 CA$140

81.39%

Men's Leather Business Shoes

$253 ISK 30.7K

$105 CA$149

140.75%

1-bedroom Apartment, City Center (Monthly)

$2,549 ISK 309.2K

$900 CA$1,273

183.12%

1-bedroom Apartment, Outside City Center (Monthly)

$2,056 ISK 249.4K

$709 CA$1,002

189.94%

3-bedroom Apartment, City Center (Monthly)

$3,498 ISK 424.2K

$1,770 CA$2,503

97.58%

3-bedroom Apartment, Outside City Center (Monthly)

$2,764 ISK 335.2K

$1,367 CA$1,932

102.22%

Buy Apartment in City Center (m2)

$8,120 ISK 984.9K

Buy Apartment Outside City Center (m2)

$6,254 ISK 758.5K

Average Monthly Net Salary (After Tax)

$4,573 ISK 554.6K

$2,501 CA$3,536

82.84%

20-Year Fixed Mortgage Interest Rate (Annual %)

8.81

5.8

51.90%

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

Last update for Reykjavik: October 12, 2026

Last update for Sydney, NS: October 12, 2026

Monthly budget structure

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

Accommodation & Living

Reykjavik

$2.1K 51.4%

Sydney, NS

$709 44.5% 65.5% $1.3K

Groceries & Markets

Reykjavik

$623 15.6%

Sydney, NS

$258 * 16.2% 58.6% $365

Eating Out

Reykjavik

$536 13.4%

Sydney, NS

$162 * 10.1% 69.9% $375

Clothing & Footwear

Reykjavik

$292 7.3%

Sydney, NS

$152 9.5% 47.9% $140

Monthly Utilities & Internet

Reykjavik

$215 5.4%

Sydney, NS

$196 12.3% 8.8% $19

Sport & Entertainment

Reykjavik

$142 3.5%

Sydney, NS

$62 3.9% 56.4% $80

Getting Around

Reykjavik

$138 3.5%

Sydney, NS

$56 * 3.5% 59.4% $82

Categories marked with * are only partly priced – their share counts the items that do have prices.

Cost Breakdown

A central one-bedroom costs $2,549 in Reykjavik versus $900 in Sydney, NS. 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 83% 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 $63.0 in Sydney, NS. Monthly groceries follow the same trend: $623 vs $258 – making Sydney, NS the more affordable choice for daily food spending.

Good to know

🇮🇸 Reykjavik

🇨🇦 Sydney, NS

🕒 Local time

18:48 6:48 PM

15:48 3:48 PM

3 h behind Reykjavik

🌤 Weather

👥 Population

136,894 Capital

30,960

💱 Currency

Icelandic Króna ISK kr

Canadian Dollar CAD $

📈 Exchange rate

1,000 ISK = 8.24 USD

1,000 ISK = 7.33 EUR

1 CAD = 0.707 USD

1 CAD = 0.629 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 19, 2026: 1 USD = 121 ISK (1,000 ISK = 8.24 USD). 1 EUR = 136 ISK (1,000 ISK = 7.33 EUR).

Canadian Dollar exchange rates as of October 19, 2026: 1 USD = 1.41 CAD (1 CAD = 0.707 USD). 1 EUR = 1.59 CAD (1 CAD = 0.629 EUR).

USD to ISK in detail →

On the map

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Between locations

Reykjavik Sydney, NS 3,070 km ≈ 4 h 15 min nonstop flight

From you

Reykjavik
Sydney, NS

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 Sydney, NS: Cost of Living - Frequently Asked Questions

Reykjavik costs about 151% more than Sydney, NS, 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 $6,003 per month in Reykjavik and $2,392 in Sydney, NS. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Rent is clearly cheaper in Sydney, NS, 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 $1,595 in Sydney, NS. That's a gap of about 151%.

Public transport costs about 97% less in Sydney, NS. For daily commuters, that gap adds up to noticeable savings over a year.

A $1,000 monthly budget goes further in Sydney, NS, where all-in costs run around $1,595, than in Reykjavik at $4,002. In Sydney, NS it covers expenses comfortably, while in Reykjavik it requires careful planning or may not stretch far enough.

For digital nomads, it depends on budget. Sydney, NS costs $1,595 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 Sydney, NS. 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.