Cost of living comparison
compared to
Italy vs. Iceland Cost of Living Summary
Italy is 45.1% cheaper than Iceland overall.
Italy vs. Iceland Cost Breakdown
If you lived in Italy instead of Iceland, you would:
pay 40.4% less for restaurants
|
Iceland
|
Italy
|
||
|---|---|---|---|
| Basic meal with drink at inexpensive restaurant |
$28.88
ISK3,499
|
$18.81
€16.74
|
|
|
Fast food combo meal
McDonalds, or similar
|
$22.83
ISK2,767
|
$11.59
€10.31
|
|
| Bottle of Coca-Cola (11 fl. oz) |
$3.25
ISK393
|
$2.95
€2.62
|
|
| Bottle of water (11 fl. oz) |
$3.01
ISK365
|
$1.38
€1.23
|
|
Iceland vs. Italy - Cost of restaurants
pay 30.4% less for groceries
|
Iceland
|
Italy
|
||
|---|---|---|---|
|
Bread
1 loaf
|
$3.55
ISK431
|
$2.19
€1.95
|
|
| Local cheese (8 oz) |
$10.11
ISK1,226
|
$8.58
€7.64
|
|
| Milk (1 gallon) |
$7.79
ISK944
|
$5.84
€5.20
|
|
|
Eggs
1 dozen
|
$6.92
ISK839
|
$4.02
€3.58
|
|
| Boneless chicken breast (1 lb) |
$11.01
ISK1,334
|
$5.65
€5.02
|
|
| Apples (1 lb) |
$1.43
ISK173
|
$1.15
€1.02
|
|
| Bananas (1 lb) |
$1.23
ISK148
|
$0.96
€0.85
|
|
| Oranges (1 lb) |
$1.42
ISK172
|
$1.19
€1.06
|
|
| Tomatoes (1 lb) |
$2.60
ISK315
|
$1.45
€1.29
|
|
| Potatoes (1 lb) |
$1.71
ISK207
|
$0.86
€0.76
|
|
| Onions (1 lb) |
$0.76
ISK92
|
$0.81
€0.72
|
|
Iceland vs. Italy - Cost of groceries
pay 25.8% less for transportation
|
Iceland
|
Italy
|
||
|---|---|---|---|
| Gasoline (1 gallon) |
$8.09
ISK980
|
$7.75
€6.90
|
|
| Monthly public transit pass |
$80.58
ISK9,765
|
$43.51
€38.72
|
|
| New Volkswagen Golf 1.4 (standard edition) |
$48,967.53
ISK6M
|
$34,598.57
€30,793.97
|
|
| Taxi trip in downtown area (5 miles) |
$26.24
ISK3,179
|
$20.27
€18.04
|
|
Iceland vs. Italy - Cost of transportation
pay 58.4% less for housing
|
Iceland
|
Italy
|
||
|---|---|---|---|
|
Internet connection
50 mbps or faster, cable/dsl
|
$98.24
ISK11,905
|
$30.01
€26.71
|
|
| 1-Bedroom apartment in downtown area |
$2,335.24
ISK283K
|
$723.52
€643.96
|
|
| 1-Bedroom apartment outside city center |
$1,824.40
ISK221K
|
$562.80
€500.92
|
|
|
Utilities for two
(700 sq ft apartment)
including electric, gas, water, heating
|
$72.34
ISK8,766
|
$162.38
€144.52
|
|
Iceland vs. Italy - Cost of housing
pay 50.3% less for childcare
|
Iceland
|
Italy
|
||
|---|---|---|---|
| Private preschool for 1 child, monthly |
$833.66
ISK101K
|
$542.33
€482.69
|
|
| Middle school for 1 child, two semesters |
$27,752.37
ISK3M
|
$10,535.75
€9,377.19
|
|
Iceland vs. Italy - Cost of childcare
pay 49.0% less for entertainment and sports
|
Iceland
|
Italy
|
||
|---|---|---|---|
| Domestic/local beer (1 pint) |
$11.37
ISK1,378
|
$5.64
€5.02
|
|
| Cappuccino in mid-range area |
$5.90
ISK715
|
$1.96
€1.74
|
|
|
Pack of cigarettes
Marlboro or similar
|
$13.85
ISK1,679
|
$6.73
€5.99
|
|
| Monthly membership at local gym |
$83.64
ISK10,136
|
$55.93
€49.78
|
|
| Movie ticket to theater/cinema |
$17.92
ISK2,171
|
$10.26
€9.13
|
|
Iceland vs. Italy - Cost of entertainment and sports
pay 39.8% less for clothing
|
Iceland
|
Italy
|
||
|---|---|---|---|
|
Regular jeans
Levi's brand
|
$134.47
ISK16,295
|
$86.42
€76.92
|
|
|
Regular dress
from H&M or similar store
|
$63.25
ISK7,664
|
$38.24
€34.03
|
|
|
Running shoes
Nike or Adidas
|
$159.03
ISK19,271
|
$99.86
€88.88
|
|
| Men's business shoes (leather) |
$237.19
ISK28,742
|
$127.82
€113.76
|
|
Iceland vs. Italy - Cost of clothing
We average the price of thousands of data points entered by users across the world. Sources: MyLifeElsewhere's cost-of-living dataset (prices updated October 2026). How we calculate this
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Moving from Iceland to Italy · OECD 2023
32 people moved from Iceland to Italy.
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