Cost of Living Comparison

  1. Cost of Living
  2. Iceland
  3. Italy
  4. Comparison
ISK
COMPARED TO
EUR

Italy is 0.9% cheaper than Iceland.

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

pay 20.1% less for restaurants

  Iceland help_outline Italy help_outline  
Basic meal with drink at inexpensive restaurant $16.49
kr1,731
$16.28
€14.27
-1.3%
Fast food combo meal
McDonalds, or similar
 $14.47
kr1,519
$9.39
€8.23
-35.1%
Bottle of Coca-Cola (11 fl. oz) $2.69
kr282
$2.48
€2.17
-7.8%
Bottle of water (11 fl. oz) $1.95
kr205
$1.24
€1.09
-36.3%
Average -20.1%
Iceland vs. Italy - Cost of restaurants
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local_grocery_store

pay 19.0% less for groceries

  Iceland help_outline Italy help_outline  
Bread
1 loaf
 $3.22
kr338
$1.86
€1.63
-42.3%
Local cheese (8 oz) $6.33
kr664
$7.41
€6.50
+17.1%
Milk (1 gallon) $5.38
kr565
$4.98
€4.36
-7.6%
Eggs
1 dozen
 $5.97
kr626
$3.33
€2.92
-44.2%
Boneless chicken breast (1 lb) $7.48
kr785
$4.42
€3.88
-40.9%
Apples (1 lb) $1.06
kr111
$0.95
€0.83
-10.5%
Bananas (1 lb) $1.04
kr109
$0.90
€0.79
-13.1%
Oranges (1 lb) $1.10
kr116
$0.97
€0.85
-12.2%
Tomatoes (1 lb) $1.96
kr206
$1.08
€0.95
-45.1%
Potatoes (1 lb) $1.03
kr108
$0.69
€0.60
-33.2%
Onions (1 lb) $0.60
kr63
$0.74
€0.65
+23.2%
Average -19.0%
Iceland vs. Italy - Cost of groceries
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drive_eta

pay 22.1% less for transportation

  Iceland help_outline Italy help_outline  
Gasoline (1 gallon) $6.83
kr717
$6.99
€6.13
+2.4%
Monthly public transit pass $104.10
kr10,925
$43.01
€37.72
-58.7%
New Volkswagen Golf 1.4 (standard edition) $29,559.70
kr3,102,290
$26,336.31
€23,094.33
-10.9%
Taxi trip in downtown area (5 miles) $25.44
kr2,670
$20.00
€17.54
-21.4%
Average -22.1%
Iceland vs. Italy - Cost of transportation
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home

pay 23.7% less for housing

  Iceland help_outline Italy help_outline  
Internet connection
50 mbps or faster, cable/dsl
 $72.22
kr7,579
$34.75
€30.47
-51.9%
1-Bedroom apartment in downtown area $1,433.87
kr150,485
$639.56
€560.83
-55.4%
1-Bedroom apartment outside city center $1,196.44
kr125,566
$490.87
€430.44
-59.0%
Utilities for two (700 sq ft apartment)
including electric, gas, water, heating
 $84.13
kr8,829
$144.46
€126.68
+71.7%
Average -23.7%
Iceland vs. Italy - Cost of housing
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child_care

pay 2.5 times more for childcare

  Iceland help_outline Italy help_outline  
Private preschool for 1 child, monthly $308.46
kr32,373
$498.43
€437.07
+61.6%
Middle school for 1 child, two semesters $3,430.08
kr359,987
$11,939.46
€10,469.72
+248.1%
Average +154.8%
Iceland vs. Italy - Cost of childcare
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gamepad

pay 37.2% less for entertainment and sports

  Iceland help_outline Italy help_outline  
Domestic/local beer (1 pint) $9.07
kr952
$5.00
€4.38
-44.9%
Cappuccino in mid-range area $4.60
kr483
$1.68
€1.47
-63.6%
Pack of cigarettes
Marlboro or similar
 $12.21
kr1,282
$6.74
€5.91
-44.8%
Monthly membership at local gym $60.00
kr6,297
$54.45
€47.74
-9.3%
Movie ticket to theater/cinema $13.09
kr1,374
$10.03
€8.79
-23.4%
Average -37.2%
Iceland vs. Italy - Cost of entertainment and sports
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store

pay 38.7% less for clothing

  Iceland help_outline Italy help_outline  
Regular jeans
Levi's brand
 $126.70
kr13,297
$87.77
€76.97
-30.7%
Regular dress
from H&M or similar store
 $69.47
kr7,291
$37.94
€33.27
-45.4%
Running shoes
Nike or Adidas
 $175.47
kr18,416
$97.30
€85.32
-44.6%
Men's business shoes (leather) $188.88
kr19,823
$124.71
€109.36
-34.0%
Average -38.7%
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: January 2022
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