Last update: Oct 2026

Cost of Living Comparison Between Sydney, NS and Reykjavik

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.

78

Cost of Living Index in Sydney, NS
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Sydney, NS Living Index
193

Cost of Living Index in Reykjavik
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Reykjavik Living Index

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Sydney, NS

🇨🇦 Canada

$1,595

/mo nomad

Reykjavik

🇮🇸 Iceland

$4,002

/mo nomad

Monthly Cost of Living

How much you'll spend in Sydney, NS 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 Sydney, NS and in Reykjavik actually costs, broken down by who's living it.

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

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

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

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

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

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

Sydney, NS is about 60% cheaper than Reykjavik, and outside of rent the biggest gap is in eating out.

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

Meal at Budget Restaurant

$11.02 CA$15.57

$31.56 ISK 3,828

-65.08%

Three-Course Dinner for Two, Mid-Range

$63.5 CA$89.7

$122 ISK 14.8K

-48.13%

Fast Food Meal (McDonalds, etc)

$7.36 CA$10.40

$26.86 ISK 3,258

-72.60%

Cappuccino

$2.84 CA$4.02

$6.81 ISK 827

-58.30%

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

$2.29 CA$3.23

$3.39 ISK 411

-32.45%

Water (0.33 liter bottle)

$2.06 CA$2.91

$3.20 ISK 388

-35.63%

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)

$2.24 CA$3.16

$2.10 ISK 255

6.67%

White Bread (500g)

$2.48 CA$3.51

$4.19 ISK 508

-40.81%

Rice (white) (1kg)

$2.41 CA$3.41

$3.72 ISK 451

-35.22%

Eggs

$3.19 CA$4.50

$7.05 ISK 856

-54.75%

Local Cheese (1kg)

$6.29 CA$8.89

$21.56 ISK 2,615

-70.83%

Chicken Fillets (1kg)

$8.04 CA$11.36

$24.68 ISK 2,993

-67.42%

Beef Round Steak (1kg)

$13.06 CA$18.47

$42.19 ISK 5,117

-69.04%

Apples (1kg)

$7.04 CA$9.96

$3.23 ISK 392

117.96%

Banana (1kg)

$1.19 CA$1.68

$2.73 ISK 331

-56.41%

Oranges (1kg)

$3.17 ISK 384

Tomato (1kg)

$1.43 CA$2.02

$6.61 ISK 802

-78.37%

Potato (1kg)

$0.78 CA$1.10

$3.85 ISK 467

-79.74%

Onion (1kg)

$1.95 CA$2.76

$1.66 ISK 201

17.47%

Lettuce (1 head)

$6.41 CA$9.06

$3.80 ISK 461

68.68%

Water (1.5 liter bottle)

$1.75 ISK 212

Cigarettes 20 Pack (Marlboro, Camel)

$17.79 CA$25.15

$13.71 ISK 1,662

29.76%

Wine (Bottle)

$24.21 ISK 2,937

Local Beer (0.5 liter bottle)

$3.53 ISK 428

Imported Beer (0.33 liter bottle)

$4.21 CA$5.96

$3.32 ISK 402

26.81%

One-way Ticket (Public Transport)

$1.08 CA$1.53

$5.75 ISK 697

-81.22%

Public Transport Monthly Pass (Regular Price)

$47.58 CA$67.3

$93.8 ISK 11.4K

-49.28%

Taxi Start (Normal Tariff)

$4.10 CA$5.80

$6.61 ISK 802

-37.97%

Taxi (Normal Tariff) (1km)

$2.90 ISK 352

Taxi 1hour Waiting (Normal Tariff)

$79.2 ISK 9,602

Gasoline (1 liter)

$1.17 CA$1.66

$2.09 ISK 253

-44.02%

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

$25.6K CA$36.2K

$51.0K ISK 6.2M

-49.80%

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

$19.0K CA$26.9K

$53.3K ISK 6.5M

-64.28%

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

$88.1 CA$124

$95.3 ISK 11.6K

-7.56%

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

$34.80 CA$49.20

$32.35 ISK 3,923

7.57%

Internet (50+ Mbps, Unlimited Data)

$73.5 CA$104

$87.5 ISK 10.6K

-16.10%

Gym Membership (Monthly)

$47.87 CA$67.7

$102 ISK 12.4K

-53.00%

Tennis Court (1 Hour on Weekend)

$3.40 CA$4.80

$50.1 ISK 6,074

-93.21%

Cinema Ticket

$6.93 CA$9.80

$19.88 ISK 2,412

-65.14%

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

$698 CA$987

$1,194 ISK 144.8K

-41.51%

International Primary School, 1 Child (Yearly)

$25.4K ISK 3.1M

Jeans (Levis 501 Or Similar)

$67.6 CA$95.6

$149 ISK 18.1K

-54.61%

Summer Dress (H&M, Zara, etc)

$66.2 CA$93.6

$66.6 ISK 8,080

-0.66%

Sport Shoes (Adidas, Nike)

$99.2 CA$140

$180 ISK 21.8K

-44.87%

Men's Leather Business Shoes

$105 CA$149

$253 ISK 30.7K

-58.46%

1-bedroom Apartment, City Center (Monthly)

$900 CA$1,273

$2,549 ISK 309.2K

-64.68%

1-bedroom Apartment, Outside City Center (Monthly)

$709 CA$1,002

$2,056 ISK 249.4K

-65.51%

3-bedroom Apartment, City Center (Monthly)

$1,770 CA$2,503

$3,498 ISK 424.2K

-49.39%

3-bedroom Apartment, Outside City Center (Monthly)

$1,367 CA$1,932

$2,764 ISK 335.2K

-50.55%

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)

$2,501 CA$3,536

$4,573 ISK 554.6K

-45.31%

20-Year Fixed Mortgage Interest Rate (Annual %)

5.8

8.81

-34.17%

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

Last update for Sydney, NS: October 12, 2026

Last update for Reykjavik: October 12, 2026

Monthly budget structure

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

Accommodation & Living

Sydney, NS

$709 44.5%

Reykjavik

$2.1K 51.4% 190% $1.3K

Groceries & Markets

Sydney, NS

$258 * 16.2%

Reykjavik

$623 15.6% 142% $365

Monthly Utilities & Internet

Sydney, NS

$196 12.3%

Reykjavik

$215 5.4% 9.6% $19

Eating Out

Sydney, NS

$162 * 10.1%

Reykjavik

$536 13.4% 232% $375

Clothing & Footwear

Sydney, NS

$152 9.5%

Reykjavik

$292 7.3% 91.8% $140

Sport & Entertainment

Sydney, NS

$62 3.9%

Reykjavik

$142 3.5% 129% $80

Getting Around

Sydney, NS

$56 * 3.5%

Reykjavik

$138 3.5% 146% $82

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

Cost Breakdown

A central one-bedroom costs $900 in Sydney, NS 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 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 $63.0 in Sydney, NS versus $122 in Reykjavik. Monthly groceries follow the same trend: $258 vs $623 – making Sydney, NS the more affordable choice for daily food spending.

Good to know

🇨🇦 Sydney, NS

🇮🇸 Reykjavik

🕒 Local time

11:41 11:41 AM

14:41 2:41 PM

3 h ahead of Sydney, NS

🌤 Weather

👥 Population

30,960

136,894 Capital

💱 Currency

Canadian Dollar CAD $

Icelandic Króna ISK kr

📈 Exchange rate

1 CAD = 0.707 USD

1 CAD = 0.629 EUR

1,000 ISK = 8.24 USD

1,000 ISK = 7.33 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 19, 2026: 1 USD = 1.41 CAD (1 CAD = 0.707 USD). 1 EUR = 1.59 CAD (1 CAD = 0.629 EUR).

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).

USD to CAD in detail →

On the map

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Between locations

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

From you

Sydney, NS
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

Sydney, NS vs Reykjavik: 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 $2,392 per month in Sydney, NS 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 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 $1,595 in Sydney, NS and $4,002 in Reykjavik. 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.