Cost of living comparison
compared to
Iceland vs. Canada Cost of Living Summary
Iceland is 63.5% more expensive than Canada overall.
- Restaurants
-
pay 71.3% more in Iceland
- Groceries
-
pay 40.7% more in Iceland
- Transportation
-
pay 76.3% more in Iceland
- Housing
-
pay 41.6% more in Iceland
- Childcare
-
pay 50.5% more in Iceland
- Entertainment and Sports
-
pay 60.3% more in Iceland
- Clothing
-
pay 2.0 times more in Iceland
The cost of clothing, transportation, restaurants, entertainment and sports, childcare, and housing in Iceland are more expensive than in Canada. Notably, clothing and transportation are significantly more expensive in Iceland.
Iceland vs. Canada Cost Breakdown
If you lived in Iceland instead of Canada, you would:
pay 71.3% more for restaurants
|
Canada
|
Iceland
|
||
|---|---|---|---|
| Basic meal with drink at inexpensive restaurant |
$16.68
CA$23.33
|
$26.52
ISK3,394
|
|
|
Fast food combo meal
McDonalds, or similar
|
$10.26
CA$14.35
|
$21.32
ISK2,728
|
|
| Bottle of Coca-Cola (11 fl. oz) |
$2.01
CA$2.81
|
$3.11
ISK398
|
|
| Bottle of water (11 fl. oz) |
$1.66
CA$2.32
|
$2.72
ISK348
|
|
Canada vs. Iceland - Cost of restaurants
pay 40.7% more for groceries
|
Canada
|
Iceland
|
||
|---|---|---|---|
|
Bread
1 loaf
|
$2.50
CA$3.50
|
$3.80
ISK487
|
|
| Local cheese (8 oz) |
$5.32
CA$7.45
|
$9.44
ISK1,208
|
|
| Milk (1 gallon) |
$8.12
CA$11.36
|
$7.78
ISK996
|
|
|
Eggs
1 dozen
|
$3.44
CA$4.81
|
$6.71
ISK859
|
|
| Boneless chicken breast (1 lb) |
$5.30
CA$7.41
|
$11.22
ISK1,436
|
|
| Apples (1 lb) |
$1.78
CA$2.49
|
$1.50
ISK191
|
|
| Bananas (1 lb) |
$0.66
CA$0.93
|
$1.15
ISK147
|
|
| Oranges (1 lb) |
$1.62
CA$2.27
|
$1.41
ISK181
|
|
| Tomatoes (1 lb) |
$1.77
CA$2.47
|
$2.34
ISK300
|
|
| Potatoes (1 lb) |
$1.15
CA$1.61
|
$1.65
ISK211
|
|
| Onions (1 lb) |
$1.14
CA$1.60
|
$1.09
ISK140
|
|
Canada vs. Iceland - Cost of groceries
pay 76.3% more for transportation
|
Canada
|
Iceland
|
||
|---|---|---|---|
| Gasoline (1 gallon) |
$4.22
CA$5.91
|
$9.65
ISK1,235
|
|
| Monthly public transit pass |
$65.98
CA$92.29
|
$79.56
ISK10,182
|
|
| New Volkswagen Golf 1.4 (standard edition) |
$24,583.45
CA$34,386.10
|
$49,144.25
ISK6,289,481
|
|
| Taxi trip in downtown area (5 miles) |
$16.38
CA$22.91
|
$25.55
ISK3,270
|
|
Canada vs. Iceland - Cost of transportation
pay 41.6% more for housing
|
Canada
|
Iceland
|
||
|---|---|---|---|
|
Internet connection
50 mbps or faster, cable/dsl
|
$61.20
CA$85.60
|
$95.65
ISK12,241
|
|
| 1-Bedroom apartment in downtown area |
$1,228.04
CA$1,717.72
|
$2,289.17
ISK292,968
|
|
| 1-Bedroom apartment outside city center |
$1,109.76
CA$1,552.28
|
$1,830.04
ISK234,209
|
|
|
Utilities for two
(700 sq ft apartment)
including electric, gas, water, heating
|
$110.65
CA$154.78
|
$65.15
ISK8,338
|
|
Canada vs. Iceland - Cost of housing
pay 50.5% more for childcare
|
Canada
|
Iceland
|
||
|---|---|---|---|
| Private preschool for 1 child, monthly |
$720.23
CA$1,007.42
|
$334.67
ISK42,830
|
|
| Middle school for 1 child, two semesters |
$12,062.51
CA$16,872.44
|
$30,711.08
ISK3,930,404
|
|
Canada vs. Iceland - Cost of childcare
pay 60.3% more for entertainment and sports
|
Canada
|
Iceland
|
||
|---|---|---|---|
| Domestic/local beer (1 pint) |
$5.23
CA$7.32
|
$11.14
ISK1,426
|
|
| Cappuccino in mid-range area |
$3.65
CA$5.10
|
$5.62
ISK720
|
|
|
Pack of cigarettes
Marlboro or similar
|
$13.37
CA$18.70
|
$13.90
ISK1,778
|
|
| Monthly membership at local gym |
$43.26
CA$60.51
|
$78.17
ISK10,004
|
|
| Movie ticket to theater/cinema |
$11.18
CA$15.64
|
$16.75
ISK2,144
|
|
Canada vs. Iceland - Cost of entertainment and sports
pay 2.0 times more for clothing
|
Canada
|
Iceland
|
||
|---|---|---|---|
|
Regular jeans
Levi's brand
|
$53.62
CA$75.01
|
$130.91
ISK16,753
|
|
|
Regular dress
from H&M or similar store
|
$41.27
CA$57.72
|
$61.83
ISK7,913
|
|
|
Running shoes
Nike or Adidas
|
$86.13
CA$120.47
|
$163.81
ISK20,965
|
|
| Men's business shoes (leather) |
$103.00
CA$144.07
|
$237.31
ISK30,371
|
|
Canada vs. Iceland - Cost of clothing
The statistics used to build this comparison are calculated using data from users just like you.
We average the price of thousands of data points entered by users across the world.
Learn more about our data sources. Page last updated: December 2025
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