Cost of living comparison

compared to

Reykjavik vs. Cold Lake Cost of Living Summary

Reykjavik is 2.1 times more expensive than Cold Lake.

Restaurants: pay 78.9% more in Reykjavik
Groceries: pay 94.4% more in Reykjavik
Transportation: pay 2.1 times more in Reykjavik
Housing: pay 65.6% more in Reykjavik
Childcare: pay 97.2% more in Reykjavik
Entertainment and Sports: pay 61.1% more in Reykjavik
Clothing: pay 3.3 times more in Reykjavik

The cost of clothing, transportation, childcare, groceries, restaurants, and housing in Reykjavik are more expensive than in Cold Lake. Notably, clothing, transportation, and childcare are significantly more expensive in Reykjavik.

Reykjavik vs. Cold Lake Cost Breakdown

If you lived in Reykjavik instead of Cold Lake, you would:

Display currency: USD

pay 78.9% more for restaurants

	Cold Lake	Reykjavik
Basic meal with drink at inexpensive restaurant	$17.22 CA$23.82	$27.48 ISK3,517	+59.5%
Fast food combo meal McDonalds, or similar	$10.90 CA$15.08	$22.76 ISK2,913	+108.7%
Bottle of Coca-Cola (11 fl. oz)	$2.09 CA$2.89	$3.34 ISK427	+59.4%
Bottle of water (11 fl. oz)	$1.44 CA$1.98	$2.70 ISK345	+87.9%
Average			+78.9%

Cold Lake vs. Reykjavik - Cost of restaurants

Improve prices · Change currency (USD)

pay 94.4% more for groceries

	Cold Lake	Reykjavik
Bread 1 loaf	$1.96 CA$2.71	$4.63 ISK593	+136.2%
Local cheese (8 oz)	$5.50 CA$7.60	$9.44 ISK1,208	+71.7%
Milk (1 gallon)	$4.01 CA$5.55	$7.63 ISK976	+90.2%
Eggs 1 dozen	$3.52 CA$4.86	$6.50 ISK832	+84.9%
Boneless chicken breast (1 lb)	$5.43 CA$7.51	$11.29 ISK1,445	+107.9%
Apples (1 lb)	$2.03 CA$2.81	$1.59 ISK204	-21.8%
Bananas (1 lb)	$0.49 CA$0.68	$1.17 ISK150	+139.5%
Oranges (1 lb)	$0.81 CA$1.13	$1.49 ISK190	+82.9%
Tomatoes (1 lb)	$0.98 CA$1.35	$2.54 ISK325	+159.7%
Potatoes (1 lb)	$1.09 CA$1.50	$1.70 ISK217	+56.0%
Onions (1 lb)	$0.49 CA$0.68	$1.13 ISK145	+131.5%
Average			+94.4%

Cold Lake vs. Reykjavik - Cost of groceries

Improve prices · Change currency (USD)

pay 2.1 times more for transportation

	Cold Lake	Reykjavik
Gasoline (1 gallon)	$3.72 CA$5.14	$9.66 ISK1,236	+159.9%
Monthly public transit pass	??	$88.58 ISK11,337
New Volkswagen Golf 1.4 (standard edition)	$24,382.26 CA$33,717.01	$50,771.00 ISK6,497,672	+108.2%
Taxi trip in downtown area (5 miles)	$16.86 CA$23.32	$28.07 ISK3,592	+66.4%
Average			+111.5%

Cold Lake vs. Reykjavik - Cost of transportation

Improve prices · Change currency (USD)

pay 65.6% more for housing

	Cold Lake	Reykjavik
Internet connection 50 mbps or faster, cable/dsl	$63.09 CA$87.24	$81.97 ISK10,490	+29.9%
1-Bedroom apartment in downtown area	$885.03 CA$1,223.86	$2,259.48 ISK289,169	+155.3%
1-Bedroom apartment outside city center	$861.11 CA$1,190.78	$2,034.90 ISK260,427	+136.3%
Utilities for two (700 sq ft apartment) including electric, gas, water, heating	$148.79 CA$205.76	$60.87 ISK7,791	-59.1%
Average			+65.6%

Cold Lake vs. Reykjavik - Cost of housing

Improve prices · Change currency (USD)

pay 97.2% more for childcare

	Cold Lake	Reykjavik
Private preschool for 1 child, monthly	$665.47 CA$920.24	$327.78 ISK41,949	-50.7%
Middle school for 1 child, two semesters	$8,898.11 CA$12,304.75	$30,711.08 ISK3,930,404	+245.1%
Average			+97.2%

Cold Lake vs. Reykjavik - Cost of childcare

Improve prices · Change currency (USD)

pay 61.1% more for entertainment and sports

	Cold Lake	Reykjavik
Domestic/local beer (1 pint)	$5.74 CA$7.94	$13.12 ISK1,680	+128.6%
Cappuccino in mid-range area	$3.68 CA$5.09	$6.17 ISK790	+67.9%
Pack of cigarettes Marlboro or similar	$12.11 CA$16.74	$13.94 ISK1,783	+15.1%
Monthly membership at local gym	??	$87.35 ISK11,179
Movie ticket to theater/cinema	$12.92 CA$17.86	$17.18 ISK2,199	+33.0%
Average			+61.1%

Cold Lake vs. Reykjavik - Cost of entertainment and sports

Improve prices · Change currency (USD)

pay 3.3 times more for clothing

	Cold Lake	Reykjavik
Regular jeans Levi's brand	$28.70 CA$39.69	$145.10 ISK18,569	+405.5%
Regular dress from H&M or similar store	$35.88 CA$49.62	$63.97 ISK8,187	+78.3%
Running shoes Nike or Adidas	$53.82 CA$74.42	$193.43 ISK24,755	+259.4%
Men's business shoes (leather)	$89.70 CA$124.04	$248.79 ISK31,840	+177.4%
Average			+230.2%

Cold Lake vs. Reykjavik - Cost of clothing

Improve prices · Change currency (USD)

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

More cost comparisons

Cold Lake vs.

Singapore

Cold Lake vs.

Canberra

Cold Lake vs.

Berlin

Cold Lake vs.

Delhi

Cold Lake vs.

Manila

Cold Lake vs.

Wellington

Cold Lake vs.

Dodoma

Cold Lake vs.

Rome

Share this

Compare countries by overall cost of living

See the cost of living in Canada vs. Iceland. This provides a comparison of the average cost of living from cities within Canada and Iceland.

Help us improve these prices

MyLifeElsewhere is a collaborative project. Please enter price information for your location to help assist us in making these comparisons more accurate. Learn more

Add prices for Cold Lake

Add prices for Reykjavik

ASK THE ELSEWHERE COMMUNITY

Join the Elsewhere community and ask a question about Reykjavik or Cold Lake. It's a free, question-and-answer based forum to discuss what life is like in countries and cities around the world.