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
Improve prices · Change currency (USD)
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
Improve prices · Change currency (USD)
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
Improve prices · Change currency (USD)
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
Improve prices · Change currency (USD)
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
Improve prices · Change currency (USD)
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
Improve prices · Change currency (USD)
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
Improve prices · Change currency (USD)
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: September 2021
More cost of living comparisons
Iceland vs. France
Iceland vs. Egypt
Iceland vs. China
Italy vs. United States
Italy vs. United Kingdom
Italy vs. Austria
Help us improve these prices
MyLifeElsewhere is a collaborative project. Please enter price information for your location (Ashburn, VA, United States) to help assist us in making these comparisons more accurate. Learn more
Contribute prices for Italy
Narrow your comparison by city:
Select a city in Iceland:
Select a city in Italy:
For example, try comparing the cost of living in Reykjavik vs. Rome
question_answer HAVE A QUESTION? ASK THE COMMUNITY
Join the Elsewhere community and ask a question about Italy. It's a free, question-and-answer based forum to discuss what life is like in countries and cities around the world.