Cost of Living Comparison Between Iceland and Canada 
| Indices Difference |  |
|---|---|
| Cost of Living in Canada is 36.5% lower than in Iceland (excluding rent) | |
| Cost of Living Including Rent in Canada is 37.1% lower than in Iceland | |
| Rent Prices in Canada are 38.4% lower than in Iceland | |
| Restaurant Prices in Canada are 39.7% lower than in Iceland | |
| Groceries Prices in Canada are 34.8% lower than in Iceland | |
| Local Purchasing Power in Canada is 4.1% higher than in Iceland | |
Restaurants | Iceland Edit |
Canada Edit | Difference |
|---|---|---|---|
| Meal at an Inexpensive Restaurant |
3,275.00 kr (36.53 C$) |
2,241.08 kr (25.00 C$) |
-31.6 % |
| Meal for Two at a Mid-Range Restaurant (Three Courses, Without Drinks) |
15,000.00 kr (167.33 C$) |
8,964.32 kr (100.00 C$) |
-40.2 % |
| Combo Meal at McDonald's (or Equivalent Fast-Food Meal) |
2,750.00 kr (30.68 C$) |
1,344.65 kr (15.00 C$) |
-51.1 % |
| Domestic Draft Beer (1 Pint) |
1,500.00 kr (16.73 C$) |
717.15 kr (8.00 C$) |
-52.2 % |
| Imported Beer (12 oz Small Bottle) |
1,300.00 kr (14.50 C$) |
717.15 kr (8.00 C$) |
-44.8 % |
| Cappuccino (Regular Size) |
728.71 kr (8.13 C$) |
471.80 kr (5.26 C$) |
-35.3 % |
| Soft Drink (Coca-Cola or Pepsi, 12 oz Small Bottle) |
395.35 kr (4.41 C$) |
260.88 kr (2.91 C$) |
-34.0 % |
| Bottled Water (12 oz) |
339.54 kr (3.79 C$) |
212.71 kr (2.37 C$) |
-37.4 % |
Markets | Iceland Edit |
Canada Edit | |
| Milk (Regular, 1 Liter) |
237.79 kr (2.65 C$) |
277.62 kr (3.10 C$) |
+16.8 % |
| Fresh White Bread (1 lb Loaf) |
451.22 kr (5.03 C$) |
298.78 kr (3.33 C$) |
-33.8 % |
| White Rice (1 lb) |
194.98 kr (2.18 C$) |
205.38 kr (2.29 C$) |
+5.3 % |
| Eggs (12, Large Size) |
824.06 kr (9.19 C$) |
436.32 kr (4.87 C$) |
-47.1 % |
| Local Cheese (1 lb) |
1,097.01 kr (12.24 C$) |
616.18 kr (6.87 C$) |
-43.8 % |
| Chicken Fillets (1 lb) |
1,419.02 kr (15.83 C$) |
681.38 kr (7.60 C$) |
-52.0 % |
| Beef Round or Equivalent Back Leg Red Meat (1 lb) |
2,434.77 kr (27.16 C$) |
851.86 kr (9.50 C$) |
-65.0 % |
| Apples (1 lb) |
180.25 kr (2.01 C$) |
232.27 kr (2.59 C$) |
+28.9 % |
| Bananas (1 lb) |
145.82 kr (1.63 C$) |
81.96 kr (0.91 C$) |
-43.8 % |
| Oranges (1 lb) |
176.07 kr (1.96 C$) |
218.13 kr (2.43 C$) |
+23.9 % |
| Tomatoes (1 lb) |
302.36 kr (3.37 C$) |
228.28 kr (2.55 C$) |
-24.5 % |
| Potatoes (1 lb) |
194.46 kr (2.17 C$) |
152.73 kr (1.70 C$) |
-21.5 % |
| Onions (1 lb) |
111.20 kr (1.24 C$) |
146.84 kr (1.64 C$) |
+32.0 % |
| Lettuce (1 Head) |
374.33 kr (4.18 C$) |
324.51 kr (3.62 C$) |
-13.3 % |
| Bottled Water (50 oz) |
271.89 kr (3.03 C$) |
220.78 kr (2.46 C$) |
-18.8 % |
| Bottle of Wine (Mid-Range) |
2,900.00 kr (32.35 C$) |
1,613.58 kr (18.00 C$) |
-44.4 % |
| Domestic Beer (16.9 oz Bottle) |
481.62 kr (5.37 C$) |
362.97 kr (4.05 C$) |
-24.6 % |
| Imported Beer (12 oz Small Bottle) |
409.40 kr (4.57 C$) |
406.56 kr (4.54 C$) |
-0.7 % |
| Cigarettes (Pack of 20, Marlboro) |
1,750.00 kr (19.52 C$) |
1,792.86 kr (20.00 C$) |
+2.4 % |
Transportation | Iceland Edit |
Canada Edit | |
| One-Way Ticket (Local Transport) |
650.00 kr (7.25 C$) |
313.75 kr (3.50 C$) |
-51.7 % |
| Monthly Public Transport Pass (Regular Price) |
10,800.00 kr (120.48 C$) |
9,322.89 kr (104.00 C$) |
-13.7 % |
| Taxi Start (Standard Tariff) |
810.00 kr (9.04 C$) |
403.39 kr (4.50 C$) |
-50.2 % |
| Taxi 1 mile (Standard Tariff) |
555.22 kr (6.19 C$) |
302.96 kr (3.38 C$) |
-45.4 % |
| Taxi 1 Hour Waiting (Standard Tariff) |
9,000.00 kr (100.40 C$) |
3,406.44 kr (38.00 C$) |
-62.2 % |
| Gasoline (1 Liter) |
309.58 kr (3.45 C$) |
137.58 kr (1.53 C$) |
-55.6 % |
| Volkswagen Golf 1.5 (or Equivalent New Compact Car) |
6,190,000.00 kr (69,051.56 C$) |
3,548,076.21 kr (39,580.00 C$) |
-42.7 % |
| Toyota Corolla Sedan 1.6 (or Equivalent New Mid-Size Car) |
6,548,750.00 kr (73,053.54 C$) |
2,438,666.27 kr (27,204.15 C$) |
-62.8 % |
Utilities (Monthly) | Iceland Edit |
Canada Edit | |
| Basic Utilities for 915 Square Feet Apartment (Electricity, Heating, Cooling, Water, Garbage) |
11,750.82 kr (131.08 C$) |
18,837.04 kr (210.13 C$) |
+60.3 % |
| Mobile Phone Plan (Monthly, with Calls and 10GB+ Data) |
3,839.38 kr (42.83 C$) |
5,433.16 kr (60.61 C$) |
+41.5 % |
| Broadband Internet (Unlimited Data, 60 Mbps or Higher) |
11,154.94 kr (124.44 C$) |
7,670.81 kr (85.57 C$) |
-31.2 % |
Sports And Leisure | Iceland Edit |
Canada Edit | |
| Monthly Fitness Club Membership |
10,941.22 kr (122.05 C$) |
5,225.12 kr (58.29 C$) |
-52.2 % |
| Tennis Court Rental (1 Hour, Weekend) |
6,177.08 kr (68.91 C$) |
2,495.32 kr (27.84 C$) |
-59.6 % |
| Cinema Ticket (International Release) |
2,250.00 kr (25.10 C$) |
1,433.39 kr (15.99 C$) |
-36.3 % |
Childcare | Iceland Edit |
Canada Edit | |
| Private Full-Day Preschool or Kindergarten, Monthly Fee per Child |
75,814.50 kr (845.74 C$) |
97,072.91 kr (1,082.88 C$) |
+28.0 % |
| International Primary School, Annual Tuition per Child |
3,744,295.00 kr (41,768.89 C$) |
1,798,067.35 kr (20,058.05 C$) |
-52.0 % |
Clothing And Shoes | Iceland Edit |
Canada Edit | |
| Jeans (Levi's 501 or Similar) |
17,498.75 kr (195.20 C$) |
6,825.47 kr (76.14 C$) |
-61.0 % |
| Summer Dress in a Chain Store (e.g. Zara or H&M) |
5,923.75 kr (66.08 C$) |
5,094.54 kr (56.83 C$) |
-14.0 % |
| Nike Running Shoes (Mid-Range) |
20,812.50 kr (232.17 C$) |
10,850.21 kr (121.04 C$) |
-47.9 % |
| Men's Leather Business Shoes |
28,666.67 kr (319.79 C$) |
13,141.18 kr (146.59 C$) |
-54.2 % |
Rent Per Month | Iceland Edit |
Canada Edit | |
| 1 Bedroom Apartment in City Centre |
291,909.09 kr (3,256.35 C$) |
162,938.04 kr (1,817.63 C$) |
-44.2 % |
| 1 Bedroom Apartment Outside of City Centre |
247,080.00 kr (2,756.26 C$) |
143,193.23 kr (1,597.37 C$) |
-42.0 % |
| 3 Bedroom Apartment in City Centre |
408,421.05 kr (4,556.08 C$) |
257,382.16 kr (2,871.19 C$) |
-37.0 % |
| 3 Bedroom Apartment Outside of City Centre |
329,909.09 kr (3,680.25 C$) |
222,960.55 kr (2,487.20 C$) |
-32.4 % |
Buy Apartment Price | Iceland Edit |
Canada Edit | |
| Price per Square Feet to Buy Apartment in City Centre |
86,873.07 kr (969.10 C$) |
56,838.22 kr (634.05 C$) |
-34.6 % |
| Price per Square Feet to Buy Apartment Outside of Centre |
71,565.90 kr (798.34 C$) |
45,522.38 kr (507.82 C$) |
-36.4 % |
Salaries And Financing | Iceland Edit |
Canada Edit | |
| Average Monthly Net Salary (After Tax) |
567,632.67 kr (6,332.14 C$) |
371,890.20 kr (4,148.56 C$) |
-34.5 % |
| Annual Mortgage Interest Rate (20-Year Fixed, in %) | 9.23 | 5.40 | -41.5 % |
| Last update: | 3 February 2026 | 6 February 2026 | |
| Contributors in the past 12 months: | 75 | 2046 | |
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