Cost of Living Comparison

ISK

COMPARED TO

EUR

Italy is 11.3% more expensive than Iceland.

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

pay 13.6% less for restaurants

	Iceland	Italy
Basic meal with drink at inexpensive restaurant	$15.54 kr1,631	$15.63 €13.71	+0.6%
Fast food combo meal McDonalds, or similar	$12.54 kr1,316	$9.11 €7.99	-27.4%
Bottle of Coca-Cola (11 fl. oz)	$2.37 kr249	$2.39 €2.09	+0.6%
Bottle of water (11 fl. oz)	$1.68 kr177	$1.21 €1.06	-28.3%
Average			-13.6%

Iceland vs. Italy - Cost of restaurants

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pay 9.2% less for groceries

	Iceland	Italy
Bread 1 loaf	$3.04 kr319	$1.83 €1.61	-39.7%
Local cheese (8 oz)	$5.12 kr538	$7.60 €6.66	+48.3%
Milk (1 gallon)	$4.59 kr482	$4.76 €4.17	+3.7%
Eggs 1 dozen	$5.23 kr549	$3.18 €2.79	-39.2%
Boneless chicken breast (1 lb)	$6.56 kr689	$4.41 €3.87	-32.8%
Apples (1 lb)	$0.98 kr103	$0.95 €0.83	-3.1%
Bananas (1 lb)	$0.83 kr88	$0.88 €0.78	+6.1%
Oranges (1 lb)	$1.02 kr107	$0.93 €0.82	-8.6%
Tomatoes (1 lb)	$1.68 kr176	$1.01 €0.88	-39.8%
Potatoes (1 lb)	$0.96 kr100	$0.68 €0.60	-28.9%
Onions (1 lb)	$0.55 kr58	$0.73 €0.64	+32.7%
Average			-9.2%

Iceland vs. Italy - Cost of groceries

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pay 12.7% less for transportation

	Iceland	Italy
Gasoline (1 gallon)	$5.96 kr626	$6.87 €6.03	+15.2%
Monthly public transit pass	$90.41 kr9,489	$42.81 €37.54	-52.7%
New Volkswagen Golf 1.4 (standard edition)	$26,163.21 kr2,745,829	$25,515.15 €22,374.26	-2.5%
Taxi trip in downtown area (5 miles)	$22.36 kr2,347	$19.98 €17.52	-10.6%
Average			-12.7%

Iceland vs. Italy - Cost of transportation

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pay 13.0% less for housing

	Iceland	Italy
Internet connection 50 mbps or faster, cable/dsl	$63.30 kr6,644	$34.22 €30.01	-45.9%
1-Bedroom apartment in downtown area	$1,285.14 kr134,875	$635.99 €557.70	-50.5%
1-Bedroom apartment outside city center	$1,064.16 kr111,684	$477.40 €418.64	-55.1%
Utilities for two (700 sq ft apartment) including electric, gas, water, heating	$69.69 kr7,314	$139.03 €121.92	+99.5%
Average			-13.0%

Iceland vs. Italy - Cost of housing

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pay 2.8 times more for childcare

	Iceland	Italy
Private preschool for 1 child, monthly	$279.46 kr29,329	$484.79 €425.12	+73.5%
Middle school for 1 child, two semesters	$3,014.93 kr316,417	$11,934.63 €10,465.49	+295.9%
Average			+184.7%

Iceland vs. Italy - Cost of childcare

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pay 29.0% less for entertainment and sports

	Iceland	Italy
Domestic/local beer (1 pint)	$7.97 kr837	$4.85 €4.25	-39.2%
Cappuccino in mid-range area	$4.17 kr438	$1.64 €1.44	-60.7%
Pack of cigarettes Marlboro or similar	$10.58 kr1,110	$6.38 €5.60	-39.6%
Monthly membership at local gym	$50.68 kr5,319	$54.20 €47.53	+6.9%
Movie ticket to theater/cinema	$11.05 kr1,159	$9.68 €8.49	-12.4%
Average			-29.0%

Iceland vs. Italy - Cost of entertainment and sports

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pay 28.2% less for clothing

	Iceland	Italy
Regular jeans Levi's brand	$104.95 kr11,015	$87.08 €76.36	-17.0%
Regular dress from H&M or similar store	$60.45 kr6,345	$37.41 €32.80	-38.1%
Running shoes Nike or Adidas	$154.03 kr16,166	$96.82 €84.90	-37.1%
Men's business shoes (leather)	$161.72 kr16,973	$128.04 €112.28	-20.8%
Average			-28.2%

Iceland vs. Italy - 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: October 2020

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