Cost of living comparison
compared to
Iceland vs. Italy Cost of Living Summary
Iceland is 82.3% more expensive than Italy overall.
Iceland vs. Italy Cost Breakdown
If you lived in Iceland instead of Italy, you would:
pay 67.8% more for restaurants
|
Italy
|
Iceland
|
||
|---|---|---|---|
| Basic meal with drink at inexpensive restaurant |
$18.81
€16.79
|
$28.88
ISK3,527
|
|
|
Fast food combo meal
McDonalds, or similar
|
$11.59
€10.34
|
$22.83
ISK2,789
|
|
| Bottle of Coca-Cola (11 fl. oz) |
$2.95
€2.63
|
$3.25
ISK396
|
|
| Bottle of water (11 fl. oz) |
$1.38
€1.23
|
$3.01
ISK368
|
|
Italy vs. Iceland - Cost of restaurants
pay 43.7% more for groceries
|
Italy
|
Iceland
|
||
|---|---|---|---|
|
Bread
1 loaf
|
$2.19
€1.96
|
$3.55
ISK434
|
|
| Local cheese (8 oz) |
$8.58
€7.66
|
$10.11
ISK1,235
|
|
| Milk (1 gallon) |
$5.84
€5.21
|
$7.79
ISK952
|
|
|
Eggs
1 dozen
|
$4.02
€3.59
|
$6.92
ISK846
|
|
| Boneless chicken breast (1 lb) |
$5.65
€5.04
|
$11.01
ISK1,345
|
|
| Apples (1 lb) |
$1.15
€1.02
|
$1.43
ISK174
|
|
| Bananas (1 lb) |
$0.96
€0.85
|
$1.23
ISK150
|
|
| Oranges (1 lb) |
$1.19
€1.06
|
$1.42
ISK173
|
|
| Tomatoes (1 lb) |
$1.45
€1.30
|
$2.60
ISK318
|
|
| Potatoes (1 lb) |
$0.86
€0.77
|
$1.71
ISK209
|
|
| Onions (1 lb) |
$0.81
€0.73
|
$0.76
ISK92
|
|
Italy vs. Iceland - Cost of groceries
pay 34.8% more for transportation
|
Italy
|
Iceland
|
||
|---|---|---|---|
| Gasoline (1 gallon) |
$7.75
€6.92
|
$8.09
ISK988
|
|
| Monthly public transit pass |
$43.51
€38.84
|
$80.58
ISK9,843
|
|
| New Volkswagen Golf 1.4 (standard edition) |
$34,598.57
€30,883.30
|
$48,967.53
ISK6M
|
|
| Taxi trip in downtown area (5 miles) |
$20.27
€18.09
|
$26.24
ISK3,205
|
|
Italy vs. Iceland - Cost of transportation
pay 2.4 times more for housing
|
Italy
|
Iceland
|
||
|---|---|---|---|
|
Internet connection
50 mbps or faster, cable/dsl
|
$30.01
€26.79
|
$98.24
ISK12,000
|
|
| 1-Bedroom apartment in downtown area |
$723.52
€645.83
|
$2,335.24
ISK285K
|
|
| 1-Bedroom apartment outside city center |
$562.80
€502.37
|
$1,824.40
ISK223K
|
|
|
Utilities for two
(700 sq ft apartment)
including electric, gas, water, heating
|
$162.38
€144.94
|
$72.34
ISK8,836
|
|
Italy vs. Iceland - Cost of housing
pay 2.0 times more for childcare
|
Italy
|
Iceland
|
||
|---|---|---|---|
| Private preschool for 1 child, monthly |
$542.33
€484.09
|
$833.66
ISK102K
|
|
| Middle school for 1 child, two semesters |
$10,535.75
€9,404.40
|
$27,752.37
ISK3M
|
|
Italy vs. Iceland - Cost of childcare
pay 96.0% more for entertainment and sports
|
Italy
|
Iceland
|
||
|---|---|---|---|
| Domestic/local beer (1 pint) |
$5.64
€5.03
|
$11.37
ISK1,389
|
|
| Cappuccino in mid-range area |
$1.96
€1.75
|
$5.90
ISK720
|
|
|
Pack of cigarettes
Marlboro or similar
|
$6.73
€6.01
|
$13.85
ISK1,692
|
|
| Monthly membership at local gym |
$55.93
€49.92
|
$83.64
ISK10,217
|
|
| Movie ticket to theater/cinema |
$10.26
€9.16
|
$17.92
ISK2,189
|
|
Italy vs. Iceland - Cost of entertainment and sports
pay 66.1% more for clothing
|
Italy
|
Iceland
|
||
|---|---|---|---|
|
Regular jeans
Levi's brand
|
$86.42
€77.14
|
$134.47
ISK16,425
|
|
|
Regular dress
from H&M or similar store
|
$38.24
€34.13
|
$63.25
ISK7,726
|
|
|
Running shoes
Nike or Adidas
|
$99.86
€89.13
|
$159.03
ISK19,425
|
|
| Men's business shoes (leather) |
$127.82
€114.09
|
$237.19
ISK28,972
|
|
Italy vs. Iceland - 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
Change currency:
Compare further: Italy vs. Iceland
Salary Calculator · Free tool
What salary would you need in Iceland?
→
Quality of Life Comparison · 18 statistics
Make 2.3 times more money in Iceland
→
Size Comparison · See true size
Italy is about 2.9 times bigger than Iceland.
→
Moving from Italy to Iceland · OECD 2023
340 people moved from Italy to Iceland.
→
Help us improve these prices
MyLifeElsewhere is a collaborative project. Please enter price information for your location to help assist us in making these comparisons more accurate.
Learn more
Ask the Elsewhere Community
Join the Elsewhere community and ask a question about Iceland or Italy. It's a free, question-and-answer based forum to discuss what life is like in countries and cities around the world.