Last update: Oct 2026

Cost of Living Comparison Between Reykjavik and Wolfville

For one person, living is cheaper in Wolfville: $1,877 a month against $4,002 in Reykjavik, rent and utilities included – about $25,500 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
92

Cost of Living Index in Wolfville
Learn more

Wolfville Living Index

Jump to prices

Reykjavik

🇮🇸 Iceland

$4,002

/mo nomad

Wolfville

🇨🇦 Canada

$1,877

/mo nomad

Monthly Cost of Living

How much you'll spend in Reykjavik and in Wolfville

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

A single person spends $4,002 per month in Reykjavik vs $1,877 in Wolfville, rent included.

Reykjavik $4,002
Wolfville $1,877

A couple spends around $5,705 per month in Reykjavik vs $2,909 in Wolfville, rent included.

Reykjavik $5,705
Wolfville $2,909

A family of three spends $7,407 per month in Reykjavik vs $3,941 in Wolfville, rent included.

Reykjavik $7,407
Wolfville $3,941

Reykjavik costs about 113% more than Wolfville, and outside of rent the biggest gap is in eating out.

Both Reykjavik and Wolfville sit above the global median – Reykjavik by 196%, Wolfville by 39%.

Meal at Budget Restaurant

$31.56 ISK 3,828

$18.68 CA$26.41

68.95%

Three-Course Dinner for Two, Mid-Range

$122 ISK 14.8K

$65.7 CA$92.9

86.14%

Fast Food Meal (McDonalds, etc)

$26.86 ISK 3,258

$10.32 CA$14.59

160.27%

Cappuccino

$6.81 ISK 827

$3.52 CA$4.98

93.47%

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

$3.39 ISK 411

$1.92 CA$2.72

76.56%

Water (0.33 liter bottle)

$3.20 ISK 388

$1.85 CA$2.61

72.97%

Local Beer (0.5 liter draught)

$14.14 ISK 1,715

$4.46 CA$6.30

217.04%

Imported Beer (0.33 liter bottle)

$12.31 ISK 1,493

$5.44 CA$7.70

126.29%

Milk (1 liter)

$2.10 ISK 255

$2.96 CA$4.19

-29.05%

White Bread (500g)

$4.19 ISK 508

$2.72 CA$3.85

54.04%

Rice (white) (1kg)

$3.72 ISK 451

$3.42 CA$4.84

8.77%

Eggs

$7.05 ISK 856

$3.82 CA$5.39

84.55%

Local Cheese (1kg)

$21.56 ISK 2,615

$11.60 CA$16.40

85.86%

Chicken Fillets (1kg)

$24.68 ISK 2,993

$8.54 CA$12.08

188.99%

Beef Round Steak (1kg)

$42.19 ISK 5,117

$13.23 CA$18.71

218.90%

Apples (1kg)

$3.23 ISK 392

$4.26 CA$6.02

-24.18%

Banana (1kg)

$2.73 ISK 331

$1.51 CA$2.13

80.79%

Oranges (1kg)

$3.17 ISK 384

$4.30 CA$6.07

-26.28%

Tomato (1kg)

$6.61 ISK 802

$4.06 CA$5.74

62.81%

Potato (1kg)

$3.85 ISK 467

$2.07 CA$2.92

85.99%

Onion (1kg)

$1.66 ISK 201

$2.07 CA$2.92

-19.81%

Lettuce (1 head)

$3.80 ISK 461

$2.06 CA$2.91

84.47%

Water (1.5 liter bottle)

$1.75 ISK 212

$2.13 CA$3.01

-17.84%

Cigarettes 20 Pack (Marlboro, Camel)

$13.71 ISK 1,662

$14.27 CA$20.17

-3.92%

Wine (Bottle)

$24.21 ISK 2,937

$9.89 CA$13.98

144.79%

Local Beer (0.5 liter bottle)

$3.53 ISK 428

$3.37 CA$4.76

4.75%

Imported Beer (0.33 liter bottle)

$3.32 ISK 402

$3.71 CA$5.25

-10.51%

One-way Ticket (Public Transport)

$5.75 ISK 697

$3.01 CA$4.25

91.03%

Public Transport Monthly Pass (Regular Price)

$93.8 ISK 11.4K

Taxi Start (Normal Tariff)

$6.61 ISK 802

$2.79 CA$3.95

136.92%

Taxi (Normal Tariff) (1km)

$2.90 ISK 352

$1.35 CA$1.91

114.81%

Taxi 1hour Waiting (Normal Tariff)

$79.2 ISK 9,602

$21.29 CA$30.10

271.82%

Gasoline (1 liter)

$2.09 ISK 253

$1.19 CA$1.69

75.63%

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

$51.0K ISK 6.2M

$27.9K CA$39.4K

82.92%

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

$53.3K ISK 6.5M

$18.8K CA$26.6K

183.53%

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

$95.3 ISK 11.6K

$122 CA$173

-21.96%

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

$32.35 ISK 3,923

$41.11 CA$58.1

-21.31%

Internet (50+ Mbps, Unlimited Data)

$87.5 ISK 10.6K

$47.27 CA$66.8

85.19%

Gym Membership (Monthly)

$102 ISK 12.4K

Tennis Court (1 Hour on Weekend)

$50.1 ISK 6,074

Cinema Ticket

$19.88 ISK 2,412

$12.49 CA$17.65

59.17%

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

$1,194 ISK 144.8K

$376 CA$531

217.70%

International Primary School, 1 Child (Yearly)

$25.4K ISK 3.1M

$13.2K CA$18.6K

92.81%

Jeans (Levis 501 Or Similar)

$149 ISK 18.1K

$35.30 CA$49.90

322.18%

Summer Dress (H&M, Zara, etc)

$66.6 ISK 8,080

$35.50 CA$50.2

87.66%

Sport Shoes (Adidas, Nike)

$180 ISK 21.8K

$87.8 CA$124

104.78%

Men's Leather Business Shoes

$253 ISK 30.7K

$105 CA$148

142.01%

1-bedroom Apartment, City Center (Monthly)

$2,549 ISK 309.2K

$1,136 CA$1,606

124.39%

1-bedroom Apartment, Outside City Center (Monthly)

$2,056 ISK 249.4K

$872 CA$1,232

135.88%

3-bedroom Apartment, City Center (Monthly)

$3,498 ISK 424.2K

$1,786 CA$2,525

95.82%

3-bedroom Apartment, Outside City Center (Monthly)

$2,764 ISK 335.2K

$1,626 CA$2,299

69.94%

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

$2,598 CA$3,672

76.03%

20-Year Fixed Mortgage Interest Rate (Annual %)

8.81

4.6

91.52%

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

Last update for Reykjavik: October 12, 2026

Last update for Wolfville: October 13, 2026

Monthly budget structure

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

Accommodation & Living

Reykjavik

$2.1K 51.4%

Wolfville

$872 46.4% 57.6% $1.2K

Groceries & Markets

Reykjavik

$623 15.6%

Wolfville

$359 19.1% 42.3% $264

Eating Out

Reykjavik

$536 13.4%

Wolfville

$271 14.4% 49.5% $266

Clothing & Footwear

Reykjavik

$292 7.3%

Wolfville

$118 6.3% 59.4% $173

Monthly Utilities & Internet

Reykjavik

$215 5.4%

Wolfville

$210 11.2% 2.2% $4.7

Sport & Entertainment

Reykjavik

$142 3.5%

Wolfville

$25 * 1.3% 82.4% $117

Getting Around

Reykjavik

$138 3.5%

Wolfville

$22 * 1.2% 84.4% $116

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 $1,136 in Wolfville. 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 76% 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 $66.0 in Wolfville. Monthly groceries follow the same trend: $623 vs $359 – making Wolfville the more affordable choice for daily food spending.

Good to know

🇮🇸 Reykjavik

🇨🇦 Wolfville

🕒 Local time

16:42 4:42 PM

13:42 1:42 PM

3 h behind Reykjavik

🌤 Weather

👥 Population

136,894 Capital

4,300

💱 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 17, 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 17, 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

Lowest

Highest

Between locations

Reykjavik Wolfville 3,350 km ≈ 4 h 45 min nonstop flight

From you

Reykjavik
Wolfville

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 Wolfville: Cost of Living - Frequently Asked Questions

Reykjavik costs about 113% more than Wolfville, 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 $2,816 in Wolfville. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Rent is clearly cheaper in Wolfville, 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 $1,877 in Wolfville. That's a gap of about 113%.

Kindergarten costs $1,194 per month in Reykjavik and $376 in Wolfville. For families with young kids, this one expense can tip the scales when choosing between the two cities.

A $2,000 monthly budget goes further in Wolfville, where all-in costs run around $1,877, than in Reykjavik at $4,002. In Wolfville it covers expenses comfortably, while in Reykjavik it requires careful planning or may not stretch far enough.

For digital nomads, it depends on budget. Wolfville costs $1,877 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 Wolfville. 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.