Cost of Living Comparison Between Canada and Iceland 
| Indices Difference |  |
|---|---|
| Cost of Living in Iceland is 49.8% higher than in Canada (excluding rent) | |
| Cost of Living Including Rent in Iceland is 50.4% higher than in Canada | |
| Rent Prices in Iceland are 51.8% higher than in Canada | |
| Restaurant Prices in Iceland are 67.0% higher than in Canada | |
| Groceries Prices in Iceland are 45.5% higher than in Canada | |
| Local Purchasing Power in Iceland is 1.2% higher than in Canada | |
Restaurants | Canada Edit |
Iceland Edit | Difference |
|---|---|---|---|
| Meal, Inexpensive Restaurant |
25.00 C$ (2,301.70 kr) |
34.49 C$ (3,175.00 kr) |
+37.9 % |
| Meal for 2 People, Mid-range Restaurant, Three-course |
100.00 C$ (9,206.78 kr) |
190.08 C$ (17,500.00 kr) |
+90.1 % |
| McMeal at McDonalds (or Equivalent Combo Meal) |
15.00 C$ (1,381.02 kr) |
27.15 C$ (2,500.00 kr) |
+81.0 % |
| Domestic Beer (1 pint draught) |
8.00 C$ (736.54 kr) |
16.29 C$ (1,500.00 kr) |
+103.7 % |
| Imported Beer (12 oz small bottle) |
8.00 C$ (736.54 kr) |
14.00 C$ (1,289.25 kr) |
+75.0 % |
| Cappuccino (regular) |
5.19 C$ (477.64 kr) |
8.14 C$ (749.51 kr) |
+56.9 % |
| Coke/Pepsi (12 oz small bottle) |
2.89 C$ (266.42 kr) |
4.44 C$ (408.62 kr) |
+53.4 % |
| Water (12 oz small bottle) |
2.34 C$ (215.50 kr) |
3.55 C$ (327.04 kr) |
+51.8 % |
Markets | Canada Edit |
Iceland Edit | |
| Milk (regular), (1 gallon) |
11.68 C$ (1,075.47 kr) |
9.68 C$ (891.09 kr) |
-17.1 % |
| Loaf of Fresh White Bread (1 lb) |
3.37 C$ (310.03 kr) |
4.84 C$ (445.61 kr) |
+43.7 % |
| Rice (white), (1 lb) |
2.29 C$ (210.99 kr) |
2.14 C$ (197.27 kr) |
-6.5 % |
| Eggs (regular) (12) |
4.83 C$ (444.89 kr) |
8.89 C$ (818.07 kr) |
+83.9 % |
| Local Cheese (1 lb) |
7.10 C$ (653.40 kr) |
11.18 C$ (1,029.73 kr) |
+57.6 % |
| Chicken Fillets (1 lb) |
7.61 C$ (700.23 kr) |
14.67 C$ (1,350.80 kr) |
+92.9 % |
| Beef Round (1 lb) (or Equivalent Back Leg Red Meat) |
9.32 C$ (858.01 kr) |
25.27 C$ (2,326.81 kr) |
+171.2 % |
| Apples (1 lb) |
2.61 C$ (240.16 kr) |
1.90 C$ (175.18 kr) |
-27.1 % |
| Banana (1 lb) |
0.90 C$ (82.77 kr) |
1.52 C$ (139.94 kr) |
+69.1 % |
| Oranges (1 lb) |
2.40 C$ (221.14 kr) |
1.78 C$ (163.99 kr) |
-25.8 % |
| Tomato (1 lb) |
2.58 C$ (237.66 kr) |
3.11 C$ (286.79 kr) |
+20.7 % |
| Potato (1 lb) |
1.67 C$ (154.14 kr) |
2.21 C$ (203.14 kr) |
+31.8 % |
| Onion (1 lb) |
1.67 C$ (153.41 kr) |
1.37 C$ (126.15 kr) |
-17.8 % |
| Lettuce (1 head) |
3.51 C$ (323.42 kr) |
4.37 C$ (402.25 kr) |
+24.4 % |
| Water (1.5 liter bottle) |
2.50 C$ (230.07 kr) |
3.05 C$ (280.36 kr) |
+21.9 % |
| Bottle of Wine (Mid-Range) |
18.00 C$ (1,657.22 kr) |
32.58 C$ (3,000.00 kr) |
+81.0 % |
| Domestic Beer (0.5 liter bottle) |
4.08 C$ (375.67 kr) |
5.02 C$ (462.58 kr) |
+23.1 % |
| Imported Beer (12 oz small bottle) |
4.56 C$ (420.07 kr) |
4.23 C$ (389.06 kr) |
-7.4 % |
| Cigarettes 20 Pack (Marlboro) |
20.00 C$ (1,841.36 kr) |
18.74 C$ (1,725.00 kr) |
-6.3 % |
Transportation | Canada Edit |
Iceland Edit | |
| One-way Ticket (Local Transport) |
3.50 C$ (322.24 kr) |
6.95 C$ (640.00 kr) |
+98.6 % |
| Monthly Pass (Regular Price) |
106.00 C$ (9,759.19 kr) |
112.96 C$ (10,400.00 kr) |
+6.6 % |
| Taxi Start (Normal Tariff) |
4.55 C$ (418.91 kr) |
8.58 C$ (790.00 kr) |
+88.6 % |
| Taxi 1 mile (Normal Tariff) |
3.51 C$ (323.01 kr) |
5.66 C$ (521.43 kr) |
+61.4 % |
| Taxi 1hour Waiting (Normal Tariff) |
38.93 C$ (3,584.20 kr) |
115.35 C$ (10,620.00 kr) |
+196.3 % |
| Gasoline (1 gallon) |
6.08 C$ (559.32 kr) |
12.84 C$ (1,182.00 kr) |
+111.3 % |
| Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) |
33,978.00 C$ (3,128,280.92 kr) |
63,974.57 C$ (5,890,000.00 kr) |
+88.3 % |
| Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) |
28,055.45 C$ (2,583,004.52 kr) |
72,410.38 C$ (6,666,666.67 kr) |
+158.1 % |
Utilities (Monthly) | Canada Edit |
Iceland Edit | |
| Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment |
205.21 C$ (18,893.47 kr) |
118.66 C$ (10,924.64 kr) |
-42.2 % |
| Mobile Phone Monthly Plan with Calls and 10GB+ Data |
62.64 C$ (5,767.08 kr) |
37.26 C$ (3,430.36 kr) |
-40.5 % |
| Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) |
84.71 C$ (7,799.24 kr) |
111.51 C$ (10,266.35 kr) |
+31.6 % |
Sports And Leisure | Canada Edit |
Iceland Edit | |
| Fitness Club, Monthly Fee for 1 Adult |
58.78 C$ (5,411.59 kr) |
109.51 C$ (10,082.08 kr) |
+86.3 % |
| Tennis Court Rent (1 Hour on Weekend) |
24.16 C$ (2,224.77 kr) |
52.32 C$ (4,816.67 kr) |
+116.5 % |
| Cinema, International Release, 1 Seat |
15.75 C$ (1,450.07 kr) |
23.79 C$ (2,190.00 kr) |
+51.0 % |
Childcare | Canada Edit |
Iceland Edit | |
| Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child |
1,116.35 C$ (102,779.78 kr) |
461.35 C$ (42,475.25 kr) |
-58.7 % |
| International Primary School, Yearly for 1 Child |
16,551.23 C$ (1,523,835.82 kr) |
40,668.87 C$ (3,744,295.00 kr) |
+145.7 % |
Clothing And Shoes | Canada Edit |
Iceland Edit | |
| 1 Pair of Jeans (Levis 501 Or Similar) |
76.71 C$ (7,062.46 kr) |
188.52 C$ (17,356.84 kr) |
+145.8 % |
| 1 Summer Dress in a Chain Store (Zara, H&M, ...) |
56.99 C$ (5,246.49 kr) |
80.77 C$ (7,436.25 kr) |
+41.7 % |
| 1 Pair of Nike Running Shoes (Mid-Range) |
121.66 C$ (11,201.03 kr) |
234.25 C$ (21,566.67 kr) |
+92.5 % |
| 1 Pair of Men Leather Business Shoes |
147.94 C$ (13,620.88 kr) |
322.44 C$ (29,685.94 kr) |
+117.9 % |
Rent Per Month | Canada Edit |
Iceland Edit | |
| Apartment (1 bedroom) in City Centre |
1,844.57 C$ (169,825.69 kr) |
2,986.93 C$ (275,000.00 kr) |
+61.9 % |
| Apartment (1 bedroom) Outside of Centre |
1,643.03 C$ (151,270.59 kr) |
2,715.39 C$ (250,000.00 kr) |
+65.3 % |
| Apartment (3 bedrooms) in City Centre |
2,951.10 C$ (271,701.75 kr) |
4,279.04 C$ (393,961.54 kr) |
+45.0 % |
| Apartment (3 bedrooms) Outside of Centre |
2,555.29 C$ (235,260.15 kr) |
3,672.01 C$ (338,074.07 kr) |
+43.7 % |
Buy Apartment Price | Canada Edit |
Iceland Edit | |
| Price per Square Feet to Buy Apartment in City Centre |
859.87 C$ (79,165.97 kr) |
929.94 C$ (85,617.11 kr) |
+8.1 % |
| Price per Square Feet to Buy Apartment Outside of Centre |
601.69 C$ (55,396.49 kr) |
791.79 C$ (72,898.79 kr) |
+31.6 % |
Salaries And Financing | Canada Edit |
Iceland Edit | |
| Average Monthly Net Salary (After Tax) |
3,939.50 C$ (362,701.44 kr) |
5,993.63 C$ (551,820.52 kr) |
+52.1 % |
| Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate | 6.36 | 9.76 | +53.5 % |
| Last update: | April 2025 | April 2025 | |
| Contributors in the past 12 months: | 3814 | 145 |
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