Published: Monday, 21th October 2024
The cost of living in Iceland is 4.88 times more expensive as compared to Turkey.
On this page, you will find side-by-side cost comparison between Iceland and Turkey. We have created 172 cost-of-living indicators. We average the prices of all those indicators and take a mathematically calculated approach to determine which country is more expensive to live in between Iceland and Turkey.
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 Indicators  | Iceland  | Turkey  |
|---|---|---|
1 BHK Apartment in City Center  | 200,000 ISK (1,420 USD) | 6,500 TRY (234 USD) |
2 BHK Apartment in City Center  | 300,000 ISK (2,130 USD) | 10,000 TRY (360 USD) |
3 BHK Apartment in City Center  | 400,000 ISK (2,840 USD) | 15,000 TRY (540 USD) |
1 BHK Apartment outside City Center  | 150,000 ISK (1,065 USD) | 4,000 TRY (144 USD) |
2 BHK Apartment outside City Center  | 200,000 ISK (1,420 USD) | 6,500 TRY (234 USD) |
3 BHK Apartment outside City Center  | 300,000 ISK (2,130 USD) | 9,000 TRY (324 USD) |
Mortgage Rates Per Month  | 4 % | 6.5 % |
Realtor Commission  | 2 % | 3 % |
Property Taxes  | 0.2 to 1.65 % | 0.1 to 0.6 % |
The average housing cost in Iceland is 5.89 times more expensive than Turkey.
Indicators | Iceland | Turkey |
|---|---|---|
Basic Home Furnishing  | 300,000 ISK (2,130 USD) | 30,000 TRY (1,080 USD) |
Electricity Cost Per Month  | 20,000 ISK (142 USD) | 300 TRY (10.80 USD) |
Heating Cost Per Month  | 25,000 ISK (177.50 USD) | 200 TRY (7.20 USD) |
Cooling Cost Per Month  | 10,000 ISK (71 USD) | 250 TRY (9 USD) |
Water Supply Cost Per Month  | 5,000 ISK (35.50 USD) | 150 TRY (5.40 USD) |
If you lived in Iceland, instead of Turkey, you would have to pay 129.77% more for Utilities.
The basic home furnishing in Iceland costs 1.97 times more compared to Turkey.
Indicators | Iceland | Turkey |
|---|---|---|
Standard Wifi Cost Per Month  | 10,000 ISK (71 USD) | 100 TRY (3.60 USD) |
Mobile Phone Basic Plan Cost Per Month  | 5,000 ISK (35.50 USD) | 150 TRY (5.40 USD) |
Landline Basic Plan Cost Per Month  | 3,000 ISK (21.30 USD) | 50 TRY (1.80 USD) |
Cable TV Basic Plan Cost Per Month  | 8,000 ISK (56.80 USD) | 150 TRY (5.40 USD) |
The internet and communication costs 1039.51% more in Iceland compared to Turkey.
Indicators | Iceland | Turkey |
|---|---|---|
Long Grain Rice (1 KG)  | 500 ISK (3.55 USD) | 25 TRY (0.90 USD) |
Milk (1 Liter)  | 250 ISK (1.78 USD) | 20 TRY (0.72 USD) |
Water (1 Liter)  | 50 ISK (0.36 USD) | 5 TRY (0.18 USD) |
Bread (500 gm)  | 150 ISK (1.07 USD) | 10 TRY (0.36 USD) |
Eggs (1 Dozen)  | 500 ISK (3.55 USD) | 30 TRY (1.08 USD) |
Cheese (1 KG)  | 1,200 ISK (8.52 USD) | 60 TRY (2.16 USD) |
Chicken Breast (1 KG)  | 1,000 ISK (7.10 USD) | 40 TRY (1.44 USD) |
In Iceland, the cost of 1 Liter Water and 1 Liter Milk is 2.37 times more expensive than the cost in Turkey.
If you lived in Iceland, instead of Turkey, you would have to pay 278.87% more for Groceries.
Indicators | Iceland | Turkey |
|---|---|---|
Apples (1 KG)  | 800 ISK (5.68 USD) | 25 TRY (0.90 USD) |
Bananas (1 KG)  | 600 ISK (4.26 USD) | 15 TRY (0.54 USD) |
Oranges (1 KG)  | 700 ISK (4.97 USD) | 20 TRY (0.72 USD) |
Tomatoes (1 KG)  | 500 ISK (3.55 USD) | 15 TRY (0.54 USD) |
Potatoes (1 KG)  | 400 ISK (2.84 USD) | 15 TRY (0.54 USD) |
Lemons (1 KG)  | 700 ISK (4.97 USD) | 25 TRY (0.90 USD) |
Onions (1 KG)  | 600 ISK (4.26 USD) | 20 TRY (0.72 USD) |
Lentils (1 KG)  | 600 ISK (4.26 USD) | 25 TRY (0.90 USD) |
If you lived in Iceland, instead of Turkey, you would have to pay 6.04 times more for Fruits and Vegetables.
Indicators | Iceland | Turkey |
|---|---|---|
Meal at a Resonable Restaurant  | 3,500 ISK (24.85 USD) | 80 TRY (2.88 USD) |
Three-Course Meal for Two  | 8,000 ISK (56.80 USD) | 300 TRY (10.80 USD) |
Fast Food Combo Meal  | 1,500 ISK (10.65 USD) | 50 TRY (1.80 USD) |
Normal Coffee  | 500 ISK (3.55 USD) | 20 TRY (0.72 USD) |
Soft Drink  | 300 ISK (2.13 USD) | 10 TRY (0.36 USD) |
Pizza for One  | 2,500 ISK (17.75 USD) | 80 TRY (2.88 USD) |
Take-Out Delivery Meal  | 3,000 ISK (21.30 USD) | 60 TRY (2.16 USD) |
Cigarette Pack of 20  | 1,500 ISK (10.65 USD) | 40 TRY (1.44 USD) |
Dining-Out costs 540.97% more in Iceland compared to Turkey.
Indicators | Iceland | Turkey |
|---|---|---|
Wine Mid-Range Bottle  | 2,000 ISK (14.20 USD) | 200 TRY (7.20 USD) |
Glass of Wine  | 1,200 ISK (8.52 USD) | 50 TRY (1.80 USD) |
Domestic Beer Half Liter  | 600 ISK (4.26 USD) | 30 TRY (1.08 USD) |
Imported Beer Half Liter  | 800 ISK (5.68 USD) | 40 TRY (1.44 USD) |
Domestic Alcohol 1 Liter  | 3,000 ISK (21.30 USD) | 100 TRY (3.60 USD) |
Branded Alcohol 1 Liter  | 4,000 ISK (28.40 USD) | 180 TRY (6.48 USD) |
If you lived in Iceland, instead of Turkey, you would have to pay 3.81 times more for usual hard drinks.
Indicators | Iceland | Turkey |
|---|---|---|
Monthly Public Transportation Pass  | 15,000 ISK (106.50 USD) | 150 TRY (5.40 USD) |
Single Public Transportation Ticket  | 400 ISK (2.84 USD) | 5 TRY (0.18 USD) |
Single Train Ticket  | Yet to Update () | Yet to Update () |
Domestic Airplane Ticket  | 30,000 ISK (213 USD) | 1,000 TRY (36 USD) |
Taxi Start Fare  | 800 ISK (5.68 USD) | 20 TRY (0.72 USD) |
Taxi Rate Per Kilometer  | 200 ISK (1.42 USD) | 10 TRY (0.36 USD) |
Car Rental Per Day  | 10,000 ISK (71 USD) | 400 TRY (14.40 USD) |
Parking Fees in City Center Per Hour  | 500 ISK (3.55 USD) | 30 TRY (1.08 USD) |
Parking Fees outside City Center Per Hour  | 300 ISK (2.13 USD) | 15 TRY (0.54 USD) |
If you lived in Iceland, instead of Turkey, you would have to pay 6.92 times more for transportation.
Indicators | Iceland | Turkey |
|---|---|---|
Reasonable Vehicle Purchase Cost  | 4,000,000 ISK (28,400 USD) | 150,000 TRY (5,400 USD) |
Vehicle Registration Cost  | 15,000 ISK (106.50 USD) | 500 TRY (18 USD) |
Driving License Fees  | 5,000 ISK (35.50 USD) | 250 TRY (9 USD) |
Car Insurance Cost  | 40,000 ISK (284 USD) | 2,000 TRY (72 USD) |
Car Maintenance Cost  | 15,000 ISK (106.50 USD) | 600 TRY (21.60 USD) |
Car Loan Interest Rates  | 5 % | 8 % |
Fuel Per Liter  | 250 ISK (1.78 USD) | 25 TRY (0.90 USD) |
Fuel Per Gallon  | 1,200 ISK (8.52 USD) | 100 TRY (3.60 USD) |
Average Toll Fees  | 1,000 ISK 7.10 USD | Yet to Update |
You would have to pay 5.24 times more for Vehicle purchase, daily operation and maintenance in Iceland compared to that of Turkey.
Indicators | Iceland | Turkey |
|---|---|---|
Doctor Visit  | 5,000 ISK (35.50 USD) | 250 TRY (9 USD) |
Specialist Visit  | 10,000 ISK (71 USD) | 500 TRY (18 USD) |
Dentist Visit  | 8,000 ISK (56.80 USD) | 350 TRY (12.60 USD) |
Eye Exam  | 3,000 ISK (21.30 USD) | 100 TRY (3.60 USD) |
Mental Health Counseling  | 8,000 ISK (56.80 USD) | 350 TRY (12.60 USD) |
Preventive Health Screening  | 4,000 ISK (28.40 USD) | 100 TRY (3.60 USD) |
Physical Therapy  | 6,000 ISK (42.60 USD) | 250 TRY (9 USD) |
Emergency Room Visit  | 15,000 ISK (106.50 USD) | 500 TRY (18 USD) |
Hospital Stay Per Night  | 25,000 ISK (177.50 USD) | 1,200 TRY (43.20 USD) |
Vaccinations  | 2,500 ISK (17.75 USD) | 50 TRY (1.80 USD) |
Prescription Medication  | 1,500 ISK (10.65 USD) | 50 TRY (1.80 USD) |
Over the Counter Medication  | 800 ISK (5.68 USD) | 30 TRY (1.08 USD) |
Health Insurance Premiums  | 20,000 ISK (142 USD) | 1,000 TRY (36 USD) |
Health Insurance Deductibles  | 5,000 ISK (35.50 USD) | 2,000 TRY (72 USD) |
If you lived in Iceland, instead of Turkey, you would have to pay 3.33 times more for Health and Medical Treatment.
Indicators | Iceland | Turkey |
|---|---|---|
Cosmetic Procedures  | 30,000 ISK (213 USD) | 1,000 TRY (36 USD) |
Spa Treatment  | 10,000 ISK (71 USD) | 200 TRY (7.20 USD) |
Manicure Pedicure Cost  | 3,000 ISK (21.30 USD) | 100 TRY (3.60 USD) |
Optical Glasses Cost  | 10,000 ISK (71 USD) | 150 TRY (5.40 USD) |
Contact Lenses Cost  | 5,000 ISK (35.50 USD) | 100 TRY (3.60 USD) |
Haircuts  | 2,000 ISK (14.20 USD) | 100 TRY (3.60 USD) |
Hair Coloring  | 6,000 ISK (42.60 USD) | 200 TRY (7.20 USD) |
Shampoo Price  | 500 ISK (3.55 USD) | 30 TRY (1.08 USD) |
Toothpaste Price  | 200 ISK (1.42 USD) | 10 TRY (0.36 USD) |
If you lived in Iceland, instead of Turkey, you would have to pay 6.96 times more for Personal Care Items and Treatment.
Indicators | Iceland | Turkey |
|---|---|---|
Pair of Nike Running Shoes  | 15,000 ISK (106.50 USD) | 1,500 TRY (54 USD) |
Men's Shirt  | 5,000 ISK (35.50 USD) | 200 TRY (7.20 USD) |
Women's Dress  | 10,000 ISK (71 USD) | 300 TRY (10.80 USD) |
Summer Dress  | 5,000 ISK (35.50 USD) | 150 TRY (5.40 USD) |
Men's Suit  | 40,000 ISK (284 USD) | 1,200 TRY (43.20 USD) |
Men's Jeans  | 7,000 ISK (49.70 USD) | 300 TRY (10.80 USD) |
Women's Jeans  | 6,000 ISK (42.60 USD) | 200 TRY (7.20 USD) |
Men's Formal Shoes  | 7,000 ISK (49.70 USD) | 300 TRY (10.80 USD) |
Women's Formal Shoes  | 7,000 ISK (49.70 USD) | 300 TRY (10.80 USD) |
Men's Casual Shoes  | 5,000 ISK (35.50 USD) | 200 TRY (7.20 USD) |
Women's Casual Shoes  | 4,000 ISK (28.40 USD) | 200 TRY (7.20 USD) |
Underwear For Men  | 1,000 ISK (7.10 USD) | 30 TRY (1.08 USD) |
Underwear For Women  | 1,200 ISK (8.52 USD) | 30 TRY (1.08 USD) |
Socks For Men  | 300 ISK (2.13 USD) | 10 TRY (0.36 USD) |
Socks For Women  | 400 ISK (2.84 USD) | 10 TRY (0.36 USD) |
Wintercoat for Adults  | 8,000 ISK (56.80 USD) | 300 TRY (10.80 USD) |
Sportswear  | 6,000 ISK (42.60 USD) | 200 TRY (7.20 USD) |
If you lived in Iceland, instead of Turkey, you would have to pay 4.65 times more for Clothing and Footwear for Adults.
Indicators | Iceland | Turkey |
|---|---|---|
Children's Jeans  | 3,500 ISK (24.85 USD) | 120 TRY (4.32 USD) |
Children's Normal Sneakers  | 4,000 ISK (28.40 USD) | 150 TRY (5.40 USD) |
Children's Winter Coat  | 6,000 ISK (42.60 USD) | 200 TRY (7.20 USD) |
Daycare for Infant  | 25,000 ISK (177.50 USD) | 1,500 TRY (54 USD) |
Daycare for Toddler  | 20,000 ISK (142 USD) | 1,200 TRY (43.20 USD) |
Childcare for Sick Days  | 1,500 ISK (10.65 USD) | 400 TRY (14.40 USD) |
Early Childhood Education Programs  | 6,000 ISK (42.60 USD) | 1,000 TRY (36 USD) |
Extra Curricular Activities  | 3,000 ISK (21.30 USD) | 500 TRY (18 USD) |
Summer Camp for Kids  | 8,000 ISK (56.80 USD) | 800 TRY (28.80 USD) |
If you lived in Iceland, instead of Turkey, you would have to pay 2.59 times more for Childcare and kids clothing.
Indicators | Iceland | Turkey |
|---|---|---|
PreSchool Fees  | 30,000 ISK (213 USD) | 1,500 TRY (54 USD) |
Primary School Fees  | 40,000 ISK (284 USD) | 2,000 TRY (72 USD) |
Secondary School Fees  | 60,000 ISK (426 USD) | 3,000 TRY (108 USD) |
Private School Fees  | 80,000 ISK (568 USD) | 5,000 TRY (180 USD) |
University Tuition Fees  | 150,000 ISK (1,065 USD) | 10,000 TRY (360 USD) |
University Private Tuition Fees  | 200,000 ISK (1,420 USD) | 20,000 TRY (720 USD) |
After School Activities  | 5,000 ISK (35.50 USD) | 500 TRY (18 USD) |
Special Education Services  | 7,000 ISK (49.70 USD) | 500 TRY (18 USD) |
Tutoring  | 5,000 ISK (35.50 USD) | 400 TRY (14.40 USD) |
Textbooks Cost  | 4,000 ISK (28.40 USD) | 200 TRY (7.20 USD) |
School Supplies  | 2,000 ISK (14.20 USD) | 150 TRY (5.40 USD) |
If you lived in Iceland, instead of Turkey, you would have to pay 2.66 times more for school and education.
Indicators | Iceland | Turkey |
|---|---|---|
Movie Ticket (Single)  | 1,000 ISK (7.10 USD) | 60 TRY (2.16 USD) |
Theater Ticket (Single)  | 2,000 ISK (14.20 USD) | 100 TRY (3.60 USD) |
Concert Ticket (Single)  | 2,500 ISK (17.75 USD) | 150 TRY (5.40 USD) |
Sports Event Ticket (Single)  | 1,500 ISK (10.65 USD) | 120 TRY (4.32 USD) |
Gym Membership  | 6,000 ISK (42.60 USD) | 300 TRY (10.80 USD) |
Swimming Pool Access  | 5,000 ISK (35.50 USD) | 150 TRY (5.40 USD) |
Museum Entry Ticket  | 1,000 ISK (7.10 USD) | 30 TRY (1.08 USD) |
Zoo Entry Ticket  | 1,500 ISK (10.65 USD) | 30 TRY (1.08 USD) |
Amusement Park Entry Ticket  | 2,000 ISK (14.20 USD) | 60 TRY (2.16 USD) |
Bowling  | 1,000 ISK (7.10 USD) | 50 TRY (1.80 USD) |
Mini Golf  | 1,500 ISK (10.65 USD) | 60 TRY (2.16 USD) |
Video Games  | 5,000 ISK (35.50 USD) | 300 TRY (10.80 USD) |
Streaming Services  | 1,000 ISK (7.10 USD) | 60 TRY (2.16 USD) |
Outdoor Equipment Rental  | 1,000 ISK (7.10 USD) | 100 TRY (3.60 USD) |
Theme Park Annual Pass  | 50,000 ISK (355 USD) | 1,500 TRY (54 USD) |
If you lived in Iceland, instead of Turkey, you would have to pay 5.27 times more for entertainment, recreation and fun activities.
Indicators | Iceland | Turkey |
|---|---|---|
Language Classes  | 5,000 ISK (35.50 USD) | 400 TRY (14.40 USD) |
Parenting Classes  | 5,000 ISK (35.50 USD) | 400 TRY (14.40 USD) |
Art Classes  | 3,000 ISK (21.30 USD) | 150 TRY (5.40 USD) |
Fitness Classes  | 6,000 ISK (42.60 USD) | 100 TRY (3.60 USD) |
Music Lessons  | 4,000 ISK (28.40 USD) | 300 TRY (10.80 USD) |
Dance Lessons  | 4,000 ISK (28.40 USD) | 200 TRY (7.20 USD) |
Reading Materials for Classes  | 1,000 ISK (7.10 USD) | 50 TRY (1.80 USD) |
Educational Software  | 3,000 ISK (21.30 USD) | 200 TRY (7.20 USD) |
If you lived in Iceland, instead of Turkey, you would have to pay 3.40 times more for Private Classes.
Indicators | Iceland | Turkey |
|---|---|---|
Average Gross Monthly Salary  | 450,000 ISK (3,195 USD) | 15,000 TRY (540 USD) |
Average Net Monthly Salary  | 350,000 ISK (2,485 USD) | 12,000 TRY (432 USD) |
Minimum Wages  | 6,666.67 ISK per hour (47.33 USD) | 133.33 TRY per hour (4.80 USD) |
Average Bonus  | 40,000 ISK (284 USD) | 1,000 TRY (36 USD) |
Income Tax Rate  | 0 to 24 % | 0 to 18 % |
Social Security Contributions  | 7 % | 15 % |
Pension Contributions  | 8 % | 8 % |
Cost of Living Index  | 12 | 80 |
Median Household Income  | 400,000 ISK (2,840 USD) | 10,000 TRY (360 USD) |
If you lived in Iceland, you would earn 6.45 times more salary as compared to Turkey.
Indicators | Iceland | Turkey |
|---|---|---|
Legal Consultation Per Hour Rate  | 10,000 ISK (71 USD) | 500 TRY (18 USD) |
Accounting Services Per Hour Rate  | 7,000 ISK (49.70 USD) | 300 TRY (10.80 USD) |
IT Support Services Per Hour Rate  | 5,000 ISK (35.50 USD) | 200 TRY (7.20 USD) |
Technician Services Per Hour Rate  | 4,000 ISK (28.40 USD) | 150 TRY (5.40 USD) |
Professional Services cost 4.46 times more in Iceland, as compared to Turkey.
We hope you enjoyed the detailed guide on the cost of living comparsion between Iceland and Turkey.
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