Cost of Living Comparison Between Iceland and Canada 
| Indices Difference |  |
|---|---|
| Cost of Living in Canada is 33.2% lower than in Iceland (excluding rent) | |
| Cost of Living Including Rent in Canada is 33.5% lower than in Iceland | |
| Rent Prices in Canada are 34.1% lower than in Iceland | |
| Restaurant Prices in Canada are 40.1% lower than in Iceland | |
| Groceries Prices in Canada are 31.3% lower than in Iceland | |
| Local Purchasing Power in Canada is 1.2% lower than in Iceland | |
Restaurants | Iceland Edit |
Canada Edit | Difference |
|---|---|---|---|
| Meal, Inexpensive Restaurant |
3,175.00 kr (34.49 C$) |
2,301.70 kr (25.00 C$) |
-27.5 % |
| Meal for 2 People, Mid-range Restaurant, Three-course |
17,500.00 kr (190.08 C$) |
9,206.78 kr (100.00 C$) |
-47.4 % |
| McMeal at McDonalds (or Equivalent Combo Meal) |
2,500.00 kr (27.15 C$) |
1,381.02 kr (15.00 C$) |
-44.8 % |
| Domestic Beer (1 pint draught) |
1,500.00 kr (16.29 C$) |
736.54 kr (8.00 C$) |
-50.9 % |
| Imported Beer (12 oz small bottle) |
1,289.25 kr (14.00 C$) |
736.54 kr (8.00 C$) |
-42.9 % |
| Cappuccino (regular) |
749.51 kr (8.14 C$) |
477.64 kr (5.19 C$) |
-36.3 % |
| Coke/Pepsi (12 oz small bottle) |
408.62 kr (4.44 C$) |
266.42 kr (2.89 C$) |
-34.8 % |
| Water (12 oz small bottle) |
327.04 kr (3.55 C$) |
215.50 kr (2.34 C$) |
-34.1 % |
Markets | Iceland Edit |
Canada Edit | |
| Milk (regular), (1 gallon) |
891.09 kr (9.68 C$) |
1,075.47 kr (11.68 C$) |
+20.7 % |
| Loaf of Fresh White Bread (1 lb) |
445.61 kr (4.84 C$) |
310.03 kr (3.37 C$) |
-30.4 % |
| Rice (white), (1 lb) |
197.27 kr (2.14 C$) |
210.99 kr (2.29 C$) |
+7.0 % |
| Eggs (regular) (12) |
818.07 kr (8.89 C$) |
444.89 kr (4.83 C$) |
-45.6 % |
| Local Cheese (1 lb) |
1,029.73 kr (11.18 C$) |
653.40 kr (7.10 C$) |
-36.5 % |
| Chicken Fillets (1 lb) |
1,350.80 kr (14.67 C$) |
700.23 kr (7.61 C$) |
-48.2 % |
| Beef Round (1 lb) (or Equivalent Back Leg Red Meat) |
2,326.81 kr (25.27 C$) |
858.01 kr (9.32 C$) |
-63.1 % |
| Apples (1 lb) |
175.18 kr (1.90 C$) |
240.16 kr (2.61 C$) |
+37.1 % |
| Banana (1 lb) |
139.94 kr (1.52 C$) |
82.77 kr (0.90 C$) |
-40.9 % |
| Oranges (1 lb) |
163.99 kr (1.78 C$) |
221.14 kr (2.40 C$) |
+34.9 % |
| Tomato (1 lb) |
286.79 kr (3.11 C$) |
237.66 kr (2.58 C$) |
-17.1 % |
| Potato (1 lb) |
203.14 kr (2.21 C$) |
154.14 kr (1.67 C$) |
-24.1 % |
| Onion (1 lb) |
126.15 kr (1.37 C$) |
153.41 kr (1.67 C$) |
+21.6 % |
| Lettuce (1 head) |
402.25 kr (4.37 C$) |
323.42 kr (3.51 C$) |
-19.6 % |
| Water (1.5 liter bottle) |
280.36 kr (3.05 C$) |
230.07 kr (2.50 C$) |
-17.9 % |
| Bottle of Wine (Mid-Range) |
3,000.00 kr (32.58 C$) |
1,657.22 kr (18.00 C$) |
-44.8 % |
| Domestic Beer (0.5 liter bottle) |
462.58 kr (5.02 C$) |
375.67 kr (4.08 C$) |
-18.8 % |
| Imported Beer (12 oz small bottle) |
389.06 kr (4.23 C$) |
420.07 kr (4.56 C$) |
+8.0 % |
| Cigarettes 20 Pack (Marlboro) |
1,725.00 kr (18.74 C$) |
1,841.36 kr (20.00 C$) |
+6.7 % |
Transportation | Iceland Edit |
Canada Edit | |
| One-way Ticket (Local Transport) |
640.00 kr (6.95 C$) |
322.24 kr (3.50 C$) |
-49.7 % |
| Monthly Pass (Regular Price) |
10,400.00 kr (112.96 C$) |
9,759.19 kr (106.00 C$) |
-6.2 % |
| Taxi Start (Normal Tariff) |
790.00 kr (8.58 C$) |
418.91 kr (4.55 C$) |
-47.0 % |
| Taxi 1 mile (Normal Tariff) |
521.43 kr (5.66 C$) |
323.01 kr (3.51 C$) |
-38.1 % |
| Taxi 1hour Waiting (Normal Tariff) |
10,620.00 kr (115.35 C$) |
3,584.20 kr (38.93 C$) |
-66.3 % |
| Gasoline (1 gallon) |
1,182.00 kr (12.84 C$) |
559.32 kr (6.08 C$) |
-52.7 % |
| Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) |
5,890,000.00 kr (63,974.57 C$) |
3,128,280.92 kr (33,978.00 C$) |
-46.9 % |
| Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) |
6,666,666.67 kr (72,410.38 C$) |
2,583,004.52 kr (28,055.45 C$) |
-61.3 % |
Utilities (Monthly) | Iceland Edit |
Canada Edit | |
| Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment |
10,924.64 kr (118.66 C$) |
18,893.47 kr (205.21 C$) |
+72.9 % |
| Mobile Phone Monthly Plan with Calls and 10GB+ Data |
3,430.36 kr (37.26 C$) |
5,767.08 kr (62.64 C$) |
+68.1 % |
| Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) |
10,266.35 kr (111.51 C$) |
7,799.24 kr (84.71 C$) |
-24.0 % |
Sports And Leisure | Iceland Edit |
Canada Edit | |
| Fitness Club, Monthly Fee for 1 Adult |
10,082.08 kr (109.51 C$) |
5,411.59 kr (58.78 C$) |
-46.3 % |
| Tennis Court Rent (1 Hour on Weekend) |
4,816.67 kr (52.32 C$) |
2,224.77 kr (24.16 C$) |
-53.8 % |
| Cinema, International Release, 1 Seat |
2,190.00 kr (23.79 C$) |
1,450.07 kr (15.75 C$) |
-33.8 % |
Childcare | Iceland Edit |
Canada Edit | |
| Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child |
42,475.25 kr (461.35 C$) |
102,779.78 kr (1,116.35 C$) |
+142.0 % |
| International Primary School, Yearly for 1 Child |
3,744,295.00 kr (40,668.87 C$) |
1,523,835.82 kr (16,551.23 C$) |
-59.3 % |
Clothing And Shoes | Iceland Edit |
Canada Edit | |
| 1 Pair of Jeans (Levis 501 Or Similar) |
17,356.84 kr (188.52 C$) |
7,062.46 kr (76.71 C$) |
-59.3 % |
| 1 Summer Dress in a Chain Store (Zara, H&M, ...) |
7,436.25 kr (80.77 C$) |
5,246.49 kr (56.99 C$) |
-29.4 % |
| 1 Pair of Nike Running Shoes (Mid-Range) |
21,566.67 kr (234.25 C$) |
11,201.03 kr (121.66 C$) |
-48.1 % |
| 1 Pair of Men Leather Business Shoes |
29,685.94 kr (322.44 C$) |
13,620.88 kr (147.94 C$) |
-54.1 % |
Rent Per Month | Iceland Edit |
Canada Edit | |
| Apartment (1 bedroom) in City Centre |
275,000.00 kr (2,986.93 C$) |
169,825.69 kr (1,844.57 C$) |
-38.2 % |
| Apartment (1 bedroom) Outside of Centre |
250,000.00 kr (2,715.39 C$) |
151,270.59 kr (1,643.03 C$) |
-39.5 % |
| Apartment (3 bedrooms) in City Centre |
393,961.54 kr (4,279.04 C$) |
271,701.75 kr (2,951.10 C$) |
-31.0 % |
| Apartment (3 bedrooms) Outside of Centre |
338,074.07 kr (3,672.01 C$) |
235,260.15 kr (2,555.29 C$) |
-30.4 % |
Buy Apartment Price | Iceland Edit |
Canada Edit | |
| Price per Square Feet to Buy Apartment in City Centre |
85,617.11 kr (929.94 C$) |
79,165.97 kr (859.87 C$) |
-7.5 % |
| Price per Square Feet to Buy Apartment Outside of Centre |
72,898.79 kr (791.79 C$) |
55,396.49 kr (601.69 C$) |
-24.0 % |
Salaries And Financing | Iceland Edit |
Canada Edit | |
| Average Monthly Net Salary (After Tax) |
551,820.52 kr (5,993.63 C$) |
362,701.44 kr (3,939.50 C$) |
-34.3 % |
| Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate | 9.76 | 6.36 | -34.9 % |
| Last update: | April 2025 | April 2025 | |
| Contributors in the past 12 months: | 145 | 3814 |
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