Cost of living comparison
compared to
Iceland vs. Italy Cost of Living Summary
Iceland is 77.6% more expensive than Italy overall.
- Restaurants
-
pay 58.1% more in Iceland
- Groceries
-
pay 51.0% more in Iceland
- Transportation
-
pay 43.1% more in Iceland
- Housing
-
pay 2.4 times more in Iceland
- Childcare
-
pay 88.1% more in Iceland
- Entertainment and Sports
-
pay 96.0% more in Iceland
- Clothing
-
pay 64.5% more in Iceland
The cost of housing, entertainment and sports, childcare, clothing, restaurants, and groceries in Iceland are more expensive than in Italy. Notably, housing, entertainment and sports, and childcare are significantly more expensive in Iceland.
Iceland vs. Italy Cost Breakdown
If you lived in Iceland instead of Italy, you would:
pay 58.1% more for restaurants
|
Italy
|
Iceland
|
||
|---|---|---|---|
| Basic meal with drink at inexpensive restaurant |
$18.50
€15.95
|
$26.52
ISK3,394
|
|
|
Fast food combo meal
McDonalds, or similar
|
$11.64
€10.03
|
$21.32
ISK2,728
|
|
| Bottle of Coca-Cola (11 fl. oz) |
$2.93
€2.52
|
$3.11
ISK398
|
|
| Bottle of water (11 fl. oz) |
$1.36
€1.18
|
$2.72
ISK348
|
|
Italy vs. Iceland - Cost of restaurants
pay 51.0% more for groceries
|
Italy
|
Iceland
|
||
|---|---|---|---|
|
Bread
1 loaf
|
$2.30
€1.98
|
$3.80
ISK487
|
|
| Local cheese (8 oz) |
$8.02
€6.92
|
$9.44
ISK1,208
|
|
| Milk (1 gallon) |
$6.00
€5.17
|
$7.78
ISK996
|
|
|
Eggs
1 dozen
|
$3.93
€3.39
|
$6.71
ISK859
|
|
| Boneless chicken breast (1 lb) |
$5.46
€4.71
|
$11.22
ISK1,436
|
|
| Apples (1 lb) |
$1.07
€0.93
|
$1.50
ISK191
|
|
| Bananas (1 lb) |
$0.94
€0.81
|
$1.15
ISK147
|
|
| Oranges (1 lb) |
$1.17
€1.01
|
$1.41
ISK181
|
|
| Tomatoes (1 lb) |
$1.46
€1.26
|
$2.34
ISK300
|
|
| Potatoes (1 lb) |
$0.86
€0.74
|
$1.65
ISK211
|
|
| Onions (1 lb) |
$0.80
€0.69
|
$1.09
ISK140
|
|
Italy vs. Iceland - Cost of groceries
pay 43.1% more for transportation
|
Italy
|
Iceland
|
||
|---|---|---|---|
| Gasoline (1 gallon) |
$7.83
€6.75
|
$9.65
ISK1,235
|
|
| Monthly public transit pass |
$44.40
€38.29
|
$79.56
ISK10,182
|
|
| New Volkswagen Golf 1.4 (standard edition) |
$32,732.41
€28,226.04
|
$49,144.25
ISK6,289,481
|
|
| Taxi trip in downtown area (5 miles) |
$21.32
€18.39
|
$25.55
ISK3,270
|
|
Italy vs. Iceland - Cost of transportation
pay 2.4 times more for housing
|
Italy
|
Iceland
|
||
|---|---|---|---|
|
Internet connection
50 mbps or faster, cable/dsl
|
$31.45
€27.12
|
$95.65
ISK12,241
|
|
| 1-Bedroom apartment in downtown area |
$740.98
€638.97
|
$2,289.17
ISK292,968
|
|
| 1-Bedroom apartment outside city center |
$575.41
€496.19
|
$1,830.04
ISK234,209
|
|
|
Utilities for two
(700 sq ft apartment)
including electric, gas, water, heating
|
$164.94
€142.23
|
$65.15
ISK8,338
|
|
Italy vs. Iceland - Cost of housing
pay 88.1% more for childcare
|
Italy
|
Iceland
|
||
|---|---|---|---|
| Private preschool for 1 child, monthly |
$547.22
€471.89
|
$334.67
ISK42,830
|
|
| Middle school for 1 child, two semesters |
$9,750.16
€8,407.82
|
$30,711.08
ISK3,930,404
|
|
Italy vs. Iceland - Cost of childcare
pay 96.0% more for entertainment and sports
|
Italy
|
Iceland
|
||
|---|---|---|---|
| Domestic/local beer (1 pint) |
$5.73
€4.94
|
$11.14
ISK1,426
|
|
| Cappuccino in mid-range area |
$1.95
€1.68
|
$5.62
ISK720
|
|
|
Pack of cigarettes
Marlboro or similar
|
$6.86
€5.92
|
$13.90
ISK1,778
|
|
| Monthly membership at local gym |
$57.21
€49.33
|
$78.17
ISK10,004
|
|
| Movie ticket to theater/cinema |
$10.59
€9.14
|
$16.75
ISK2,144
|
|
Italy vs. Iceland - Cost of entertainment and sports
pay 64.5% more for clothing
|
Italy
|
Iceland
|
||
|---|---|---|---|
|
Regular jeans
Levi's brand
|
$86.36
€74.47
|
$130.91
ISK16,753
|
|
|
Regular dress
from H&M or similar store
|
$39.95
€34.45
|
$61.83
ISK7,913
|
|
|
Running shoes
Nike or Adidas
|
$97.77
€84.31
|
$163.81
ISK20,965
|
|
| Men's business shoes (leather) |
$128.92
€111.17
|
$237.31
ISK30,371
|
|
Italy vs. Iceland - 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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