Cost of living comparison

compared to

Iceland vs. Cyprus Cost of Living Summary

Iceland is 82.9% more expensive than Cyprus overall.

Restaurants: pay 84.8% more in Iceland
Groceries: pay 68.5% more in Iceland
Transportation: pay 51.2% more in Iceland
Housing: pay 2.0 times more in Iceland
Childcare: pay 2.2 times more in Iceland
Entertainment and Sports: pay 90.5% more in Iceland
Clothing: pay 62.6% more in Iceland

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

Iceland vs. Cyprus Cost Breakdown

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

Display currency: USD

pay 84.8% more for restaurants

	Cyprus	Iceland
Basic meal with drink at inexpensive restaurant	$20.12 €17.43	$26.52 ISK3,309	+31.8%
Fast food combo meal McDonalds, or similar	$9.75 €8.44	$21.32 ISK2,660	+118.7%
Bottle of Coca-Cola (11 fl. oz)	$1.89 €1.64	$3.11 ISK388	+64.3%
Bottle of water (11 fl. oz)	$1.21 €1.05	$2.72 ISK339	+124.6%
Average			+84.8%

Cyprus vs. Iceland - Cost of restaurants

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pay 68.5% more for groceries

	Cyprus	Iceland
Bread 1 loaf	$1.88 €1.63	$3.80 ISK474	+101.8%
Local cheese (8 oz)	$6.69 €5.80	$9.44 ISK1,177	+41.0%
Milk (1 gallon)	$7.00 €6.07	$7.78 ISK970	+11.1%
Eggs 1 dozen	$4.10 €3.56	$6.71 ISK837	+63.4%
Boneless chicken breast (1 lb)	$3.92 €3.40	$11.22 ISK1,400	+186.1%
Apples (1 lb)	$1.31 €1.14	$1.50 ISK187	+13.9%
Bananas (1 lb)	$0.93 €0.80	$1.15 ISK143	+23.8%
Oranges (1 lb)	$0.95 €0.83	$1.41 ISK176	+48.1%
Tomatoes (1 lb)	$1.46 €1.26	$2.34 ISK292	+60.8%
Potatoes (1 lb)	$0.70 €0.61	$1.65 ISK206	+134.2%
Onions (1 lb)	$0.64 €0.56	$1.09 ISK136	+69.5%
Average			+68.5%

Cyprus vs. Iceland - Cost of groceries

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pay 51.2% more for transportation

	Cyprus	Iceland
Gasoline (1 gallon)	$6.18 €5.35	$9.65 ISK1,204	+56.2%
Monthly public transit pass	$46.72 €40.47	$79.56 ISK9,926	+70.3%
New Volkswagen Golf 1.4 (standard edition)	$28,511.28 €24,698.98	$49,144.25 ISK6M	+72.4%
Taxi trip in downtown area (5 miles)	$24.11 €20.89	$25.55 ISK3,188	+6.0%
Average			+51.2%

Cyprus vs. Iceland - Cost of transportation

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pay 2.0 times more for housing

	Cyprus	Iceland
Internet connection 50 mbps or faster, cable/dsl	$32.65 €28.28	$95.65 ISK11,933	+193.0%
1-Bedroom apartment in downtown area	$937.67 €812.30	$2,289.17 ISK286K	+144.1%
1-Bedroom apartment outside city center	$792.94 €686.91	$1,830.04 ISK228K	+130.8%
Utilities for two (700 sq ft apartment) including electric, gas, water, heating	$155.25 €134.49	$65.15 ISK8,128	-58.0%
Average			+102.5%

Cyprus vs. Iceland - Cost of housing

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pay 2.2 times more for childcare

	Cyprus	Iceland
Private preschool for 1 child, monthly	$488.86 €423.49	$334.67 ISK41,753	-31.5%
Middle school for 1 child, two semesters	$8,259.50 €7,155.11	$30,711.08 ISK4M	+271.8%
Average			+120.2%

Cyprus vs. Iceland - Cost of childcare

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pay 90.5% more for entertainment and sports

	Cyprus	Iceland
Domestic/local beer (1 pint)	$3.76 €3.26	$11.14 ISK1,390	+196.0%
Cappuccino in mid-range area	$3.93 €3.40	$5.62 ISK702	+43.2%
Pack of cigarettes Marlboro or similar	$5.39 €4.67	$13.90 ISK1,734	+157.7%
Monthly membership at local gym	$68.78 €59.58	$78.17 ISK9,753	+13.7%
Movie ticket to theater/cinema	$11.83 €10.24	$16.75 ISK2,090	+41.7%
Average			+90.5%

Cyprus vs. Iceland - Cost of entertainment and sports

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pay 62.6% more for clothing

	Cyprus	Iceland
Regular jeans Levi's brand	$83.26 €72.13	$130.91 ISK16,332	+57.2%
Regular dress from H&M or similar store	$51.26 €44.41	$61.83 ISK7,714	+20.6%
Running shoes Nike or Adidas	$99.61 €86.29	$163.81 ISK20,437	+64.5%
Men's business shoes (leather)	$113.98 €98.74	$237.31 ISK29,607	+108.2%
Average			+62.6%

Cyprus vs. Iceland - Cost of clothing

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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: March 2026

Compare further: Cyprus vs. Iceland

Quality of Life Comparison · 10 statistics

Be 40.3% less likely to be unemployed in Iceland

Size Comparison · See true size

Cyprus is about 11 times smaller than Iceland.

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