Iceland vs. Canada Cost of Living Summary

Iceland is 24.4% more expensive than Canada overall.

Restaurants
pay 38.4% more in Iceland
Groceries
pay 13.0% more in Iceland
Transportation
pay 50.3% more in Iceland
Housing
pay 13.4% more in Iceland
Childcare
pay 57.3% less in Iceland
Entertainment and Sports
pay 34.3% more in Iceland
Clothing
pay 78.6% more in Iceland

The cost of clothing, transportation, restaurants, entertainment and sports, housing, and groceries in Iceland are more expensive than in Canada. Notably, clothing is significantly more expensive in Iceland.

Iceland vs. Canada Cost Breakdown

If you lived in Iceland instead of Canada, you would:

pay 38.4% more for restaurants

 
Canada
Iceland
Basic meal with drink at inexpensive restaurant $16.37
CA$23.41
$19.40
ISK2,754
Fast food combo meal
McDonalds, or similar
$10.01
CA$14.31
$16.94
ISK2,405
Bottle of Coca-Cola (11 fl. oz) $2.00
CA$2.85
$2.81
ISK399

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pay 13.0% more for groceries

 
Canada
Iceland
Bread
1 loaf
$2.48
CA$3.55
$2.95
ISK419
Local cheese (8 oz) $5.30
CA$7.58
$7.27
ISK1,032
Milk (1 gallon) $8.04
CA$11.49
$6.01
ISK853

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pay 50.3% more for transportation

 
Canada
Iceland
Gasoline (1 gallon) $4.35
CA$6.22
$8.36
ISK1,187
Monthly public transit pass $65.88
CA$94.20
$71.28
ISK10,120
New Volkswagen Golf 1.4 (standard edition) $24,555.94
CA$35,111.31
$40,660.66
ISK5,773,001

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pay 13.4% more for housing

 
Canada
Iceland
Internet connection
50 mbps or faster, cable/dsl
$60.95
CA$87.15
$72.17
ISK10,247
1-Bedroom apartment in downtown area $1,220.42
CA$1,745.01
$1,838.04
ISK260,965
1-Bedroom apartment outside city center $1,114.36
CA$1,593.36
$1,497.77
ISK212,653

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pay 57.3% less for childcare

 
Canada
Iceland
Private preschool for 1 child, monthly $729.99
CA$1,043.77
$258.16
ISK36,654
Middle school for 1 child, two semesters $12,017.58
CA$17,183.33
$5,993.99
ISK851,027

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pay 34.3% more for entertainment and sports

 
Canada
Iceland
Domestic/local beer (1 pint) $5.20
CA$7.44
$9.19
ISK1,305
Cappuccino in mid-range area $3.58
CA$5.12
$4.65
ISK660
Pack of cigarettes
Marlboro or similar
$12.91
CA$18.46
$11.76
ISK1,669

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pay 78.6% more for clothing

 
Canada
Iceland
Regular jeans
Levi's brand
$53.89
CA$77.05
$111.23
ISK15,793
Regular dress
from H&M or similar store
$39.01
CA$55.78
$59.69
ISK8,475
Running shoes
Nike or Adidas
$84.94
CA$121.45
$148.00
ISK21,013

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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: February 2025
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