Last update: Oct 2026

Cost of Living Comparison Between Summerside, PE and Reykjavik

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.

87

Cost of Living Index in Summerside, PE
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Summerside, PE Living Index
193

Cost of Living Index in Reykjavik
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Reykjavik Living Index

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Summerside, PE

🇨🇦 Canada

$1,773

/mo nomad

Reykjavik

🇮🇸 Iceland

$4,002

/mo nomad

Monthly Cost of Living

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

Real prices from locals and on-the-ground checks – rent, groceries, transit and the daily extras. Here's what a month in Summerside, PE and in Reykjavik actually costs, broken down by who's living it.

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

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

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

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

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

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

Summerside, PE is about 56% cheaper than Reykjavik, and outside of rent the biggest gap is in groceries.

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

Meal at Budget Restaurant

$21.01 CA$29.86

$31.56 ISK 3,834

-33.43%

Three-Course Dinner for Two, Mid-Range

$53.8 CA$76.4

$122 ISK 14.9K

-56.06%

Fast Food Meal (McDonalds, etc)

$10.22 CA$14.52

$26.86 ISK 3,263

-61.95%

Cappuccino

$3.61 CA$5.13

$6.81 ISK 828

-46.99%

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

$1.61 CA$2.29

$3.39 ISK 411

-52.51%

Water (0.33 liter bottle)

$2.07 CA$2.94

$3.20 ISK 389

-35.31%

Local Beer (0.5 liter draught)

$4.91 CA$6.98

$14.14 ISK 1,717

-65.28%

Imported Beer (0.33 liter bottle)

$4.59 CA$6.52

$12.31 ISK 1,495

-62.71%

Milk (1 liter)

$1.67 CA$2.37

$2.10 ISK 255

-20.48%

White Bread (500g)

$2.72 CA$3.87

$4.19 ISK 509

-35.08%

Rice (white) (1kg)

$2.56 CA$3.63

$3.72 ISK 452

-31.18%

Eggs

$3.80 CA$5.40

$7.05 ISK 857

-46.10%

Local Cheese (1kg)

$9.21 CA$13.09

$21.56 ISK 2,619

-57.28%

Chicken Fillets (1kg)

$8.72 CA$12.39

$24.68 ISK 2,998

-64.67%

Beef Round Steak (1kg)

$9.25 CA$13.14

$42.19 ISK 5,125

-78.08%

Apples (1kg)

$4.56 CA$6.47

$3.23 ISK 393

41.18%

Banana (1kg)

$1.50 CA$2.13

$2.73 ISK 332

-45.05%

Oranges (1kg)

$3.46 CA$4.91

$3.17 ISK 385

9.15%

Tomato (1kg)

$3.74 CA$5.32

$6.61 ISK 804

-43.42%

Potato (1kg)

$2.55 CA$3.62

$3.85 ISK 467

-33.77%

Onion (1kg)

$1.56 CA$2.21

$1.66 ISK 201

-6.02%

Lettuce (1 head)

$2.13 CA$3.02

$3.80 ISK 462

-43.95%

Water (1.5 liter bottle)

$1.63 CA$2.31

$1.75 ISK 212

-6.86%

Cigarettes 20 Pack (Marlboro, Camel)

$11.08 CA$15.75

$13.71 ISK 1,665

-19.18%

Wine (Bottle)

$11.91 CA$16.93

$24.21 ISK 2,942

-50.81%

Local Beer (0.5 liter bottle)

$4.16 CA$5.91

$3.53 ISK 429

17.85%

Imported Beer (0.33 liter bottle)

$3.58 CA$5.09

$3.32 ISK 403

7.83%

One-way Ticket (Public Transport)

$1.38 CA$1.97

$5.75 ISK 698

-76.00%

Public Transport Monthly Pass (Regular Price)

$45.19 CA$64.2

$93.8 ISK 11.4K

-51.83%

Taxi Start (Normal Tariff)

$2.86 CA$4.06

$6.61 ISK 804

-56.73%

Taxi (Normal Tariff) (1km)

$1.36 CA$1.93

$2.90 ISK 352

-53.10%

Taxi 1hour Waiting (Normal Tariff)

$21.19 CA$30.11

$79.2 ISK 9,617

-73.23%

Gasoline (1 liter)

$1.18 CA$1.68

$2.09 ISK 254

-43.54%

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

$26.0K CA$36.9K

$51.0K ISK 6.2M

-49.12%

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

$18.8K CA$26.8K

$53.3K ISK 6.5M

-64.65%

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

$115 CA$163

$95.3 ISK 11.6K

20.45%

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

$66.0 CA$93.8

$32.35 ISK 3,929

104.05%

Internet (50+ Mbps, Unlimited Data)

$69.3 CA$98.4

$87.5 ISK 10.6K

-20.88%

Gym Membership (Monthly)

$30.81 CA$43.80

$102 ISK 12.4K

-69.75%

Tennis Court (1 Hour on Weekend)

$10.67 CA$15.17

$50.1 ISK 6,083

-78.69%

Cinema Ticket

$10.09 CA$14.34

$19.88 ISK 2,415

-49.25%

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

$582 CA$828

$1,194 ISK 145.0K

-51.23%

International Primary School, 1 Child (Yearly)

$1,652 CA$2,347

$25.4K ISK 3.1M

-93.50%

Jeans (Levis 501 Or Similar)

$49.67 CA$70.6

$149 ISK 18.1K

-66.67%

Summer Dress (H&M, Zara, etc)

$24.57 CA$34.92

$66.6 ISK 8,093

-63.12%

Sport Shoes (Adidas, Nike)

$66.4 CA$94.4

$180 ISK 21.9K

-63.10%

Men's Leather Business Shoes

$65.2 CA$92.7

$253 ISK 30.8K

-74.24%

1-bedroom Apartment, City Center (Monthly)

$926 CA$1,316

$2,549 ISK 309.7K

-63.68%

1-bedroom Apartment, Outside City Center (Monthly)

$705 CA$1,002

$2,056 ISK 249.8K

-65.69%

3-bedroom Apartment, City Center (Monthly)

$1,653 CA$2,350

$3,498 ISK 424.9K

-52.74%

3-bedroom Apartment, Outside City Center (Monthly)

$1,030 CA$1,463

$2,764 ISK 335.7K

-62.75%

Buy Apartment in City Center (m2)

$8,120 ISK 986.4K

Buy Apartment Outside City Center (m2)

$1,114 CA$1,584

$6,254 ISK 759.7K

-82.18%

Average Monthly Net Salary (After Tax)

$2,354 CA$3,346

$4,573 ISK 555.5K

-48.52%

20-Year Fixed Mortgage Interest Rate (Annual %)

4.77

8.81

-45.86%

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

Last update for Summerside, PE: October 10, 2026

Last update for Reykjavik: October 12, 2026

Monthly budget structure

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

Accommodation & Living

Summerside, PE

$705 39.8%

Reykjavik

$2.1K 51.4% 192% $1.4K

Groceries & Markets

Summerside, PE

$323 18.2%

Reykjavik

$623 15.6% 92.7% $299

Eating Out

Summerside, PE

$291 16.4%

Reykjavik

$536 13.4% 84.6% $246

Monthly Utilities & Internet

Summerside, PE

$250 14.1%

Reykjavik

$215 5.4% 13.9% $35

Clothing & Footwear

Summerside, PE

$93 5.2%

Reykjavik

$292 7.3% 215% $199

Getting Around

Summerside, PE

$60 3.4%

Reykjavik

$138 3.5% 129% $78

Sport & Entertainment

Summerside, PE

$51 2.9%

Reykjavik

$142 3.5% 178% $91

Cost Breakdown

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

Good to know

🇨🇦 Summerside, PE

🇮🇸 Reykjavik

🕒 Local time

22:31 10:31 PM

01:31 1:31 AM

3 h ahead of Summerside, PE

🌤 Weather

👥 Population

16,001

136,894 Capital

💱 Currency

Canadian Dollar CAD $

Icelandic Króna ISK kr

📈 Exchange rate

1 CAD = 0.704 USD

1 CAD = 0.628 EUR

1,000 ISK = 8.23 USD

1,000 ISK = 7.35 EUR

Exchange rates and currency converter

ISK, USD, EUR to CAD – Canadian Dollar Converter

🇺🇸 United States Dollar ($)

🇨🇦 Canadian Dollar ($)

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).

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).

USD to CAD in detail →

On the map

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Between locations

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

From you

Summerside, PE
Reykjavik

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

Summerside, PE vs Reykjavik: 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 $2,660 per month in Summerside, PE and $6,003 in Reykjavik. 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 $1,773 in Summerside, PE and $4,002 in Reykjavik. 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.