Cost of living comparison
compared to
Italy vs. Iceland Cost of Living Summary
Italy is 27.4% cheaper than Iceland overall.
- Restaurants
-
pay 32.9% less in Italy
- Groceries
-
pay 31.5% less in Italy
- Transportation
-
pay 28.3% less in Italy
- Housing
-
pay 12.5% less in Italy
- Childcare
-
pay 2.4% less in Italy
- Entertainment and Sports
-
pay 45.6% less in Italy
- Clothing
-
pay 38.9% less in Italy
Expenses including entertainment and sports, clothing, restaurants, groceries, transportation, and housing are lower in Italy.
Italy vs. Iceland Cost Breakdown
If you lived in Italy instead of Iceland, you would:
pay 32.9% less for restaurants
|
Iceland
|
Italy
|
||
|---|---|---|---|
| Basic meal with drink at inexpensive restaurant |
$26.52
ISK3,394
|
$18.50
€15.95
|
|
|
Fast food combo meal
McDonalds, or similar
|
$21.32
ISK2,728
|
$11.64
€10.03
|
|
| Bottle of Coca-Cola (11 fl. oz) |
$3.11
ISK398
|
$2.93
€2.52
|
|
| Bottle of water (11 fl. oz) |
$2.72
ISK348
|
$1.36
€1.18
|
|
Iceland vs. Italy - Cost of restaurants
pay 31.5% less for groceries
|
Iceland
|
Italy
|
||
|---|---|---|---|
|
Bread
1 loaf
|
$3.80
ISK487
|
$2.30
€1.98
|
|
| Local cheese (8 oz) |
$9.44
ISK1,208
|
$8.02
€6.92
|
|
| Milk (1 gallon) |
$7.78
ISK996
|
$6.00
€5.17
|
|
|
Eggs
1 dozen
|
$6.71
ISK859
|
$3.93
€3.39
|
|
| Boneless chicken breast (1 lb) |
$11.22
ISK1,436
|
$5.46
€4.71
|
|
| Apples (1 lb) |
$1.50
ISK191
|
$1.07
€0.93
|
|
| Bananas (1 lb) |
$1.15
ISK147
|
$0.94
€0.81
|
|
| Oranges (1 lb) |
$1.41
ISK181
|
$1.17
€1.01
|
|
| Tomatoes (1 lb) |
$2.34
ISK300
|
$1.46
€1.26
|
|
| Potatoes (1 lb) |
$1.65
ISK211
|
$0.86
€0.74
|
|
| Onions (1 lb) |
$1.09
ISK140
|
$0.80
€0.69
|
|
Iceland vs. Italy - Cost of groceries
pay 28.3% less for transportation
|
Iceland
|
Italy
|
||
|---|---|---|---|
| Gasoline (1 gallon) |
$9.65
ISK1,235
|
$7.83
€6.75
|
|
| Monthly public transit pass |
$79.56
ISK10,182
|
$44.40
€38.29
|
|
| New Volkswagen Golf 1.4 (standard edition) |
$49,144.25
ISK6,289,481
|
$32,732.41
€28,226.04
|
|
| Taxi trip in downtown area (5 miles) |
$25.55
ISK3,270
|
$21.32
€18.39
|
|
Iceland vs. Italy - Cost of transportation
pay 12.5% less for housing
|
Iceland
|
Italy
|
||
|---|---|---|---|
|
Internet connection
50 mbps or faster, cable/dsl
|
$95.65
ISK12,241
|
$31.45
€27.12
|
|
| 1-Bedroom apartment in downtown area |
$2,289.17
ISK292,968
|
$740.98
€638.97
|
|
| 1-Bedroom apartment outside city center |
$1,830.04
ISK234,209
|
$575.41
€496.19
|
|
|
Utilities for two
(700 sq ft apartment)
including electric, gas, water, heating
|
$65.15
ISK8,338
|
$164.94
€142.23
|
|
Iceland vs. Italy - Cost of housing
pay 2.4% less for childcare
|
Iceland
|
Italy
|
||
|---|---|---|---|
| Private preschool for 1 child, monthly |
$334.67
ISK42,830
|
$547.22
€471.89
|
|
| Middle school for 1 child, two semesters |
$30,711.08
ISK3,930,404
|
$9,750.16
€8,407.82
|
|
Iceland vs. Italy - Cost of childcare
pay 45.6% less for entertainment and sports
|
Iceland
|
Italy
|
||
|---|---|---|---|
| Domestic/local beer (1 pint) |
$11.14
ISK1,426
|
$5.73
€4.94
|
|
| Cappuccino in mid-range area |
$5.62
ISK720
|
$1.95
€1.68
|
|
|
Pack of cigarettes
Marlboro or similar
|
$13.90
ISK1,778
|
$6.86
€5.92
|
|
| Monthly membership at local gym |
$78.17
ISK10,004
|
$57.21
€49.33
|
|
| Movie ticket to theater/cinema |
$16.75
ISK2,144
|
$10.59
€9.14
|
|
Iceland vs. Italy - Cost of entertainment and sports
pay 38.9% less for clothing
|
Iceland
|
Italy
|
||
|---|---|---|---|
|
Regular jeans
Levi's brand
|
$130.91
ISK16,753
|
$86.36
€74.47
|
|
|
Regular dress
from H&M or similar store
|
$61.83
ISK7,913
|
$39.95
€34.45
|
|
|
Running shoes
Nike or Adidas
|
$163.81
ISK20,965
|
$97.77
€84.31
|
|
| Men's business shoes (leather) |
$237.31
ISK30,371
|
$128.92
€111.17
|
|
Iceland vs. Italy - 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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