Cost of living in Iqaluit
Iqaluit, the capital of Nunavut, Canada, is known for its unique Arctic landscape and cultural heritage. Understanding the cost of living in Iqaluit is crucial for anyone considering moving to or visiting this remote city.
This guide provides a detailed breakdown of expenses in Iqaluit, including housing, dining, transportation, and more, to help you plan your budget effectively.
Cost of Living Summary
Dining and Restaurants
- Inexpensive Restaurant Meal - A meal at a casual restaurant will typically cost $30.75 on average, with a range between $15 and $53.63.
- Mid-Range Restaurant (Three-Course Meal for Two) - For a more upscale dining experience, expect to pay around $64.36, with prices ranging from $50.06 to $178.77.
- Fast Food (e.g., McDonald's) - A McMeal or equivalent combo meal averages $12.86, with a range between $10.73 and $15.
- Beverages (e.g., Domestic Beer, Imported Beer, Cappuccino, Coke/Pepsi) - Domestic beer ranges from $4.29 to $9.3, imported beer $5.01 to $7.15, cappuccino $3.58 to $8.58, and Coke/Pepsi $2.15 to $5.
Grocery Prices
- Milk - Milk is priced between $1.43 and $2.27 per liter, averaging $1.85.
- Bread (Loaf of Fresh White Bread) - A loaf of fresh white bread costs between $4.73 and $6, with an average price of $5.36.
- Eggs (Dozen) - A dozen eggs average $4.29.
- Fruits (e.g., Apples, Oranges) - Apples and oranges both average $2 per kg.
- Vegetables (e.g., Potatoes, Lettuce) - Potatoes average $3 per kg, and lettuce costs $3 per head.
Transportation
- Public Transport (One-Way Ticket) - A one-way local transport ticket costs between $3 and $6.61.
- Fuel (Gasoline) - Gasoline is priced at $1.27 per liter.
- Taxi Fares - Taxi fares start at $6.44, with a cost of $0.72 per km and $11.36 per hour of waiting.
Housing Costs
- 1-Bedroom Apartment Rent (City Centre) - Rent for a 1-bedroom apartment in the city centre ranges from $1291.28 to $2002.25, averaging $1646.77.
- 1-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent ranges from $1545.97 to $1600, averaging $1572.99.
- 3-Bedroom Apartment Rent (City Centre) - Rent for a 3-bedroom apartment in the city centre averages $3003.37.
- 3-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent ranges from $3864.92 to $4000, averaging $3932.46.
- Buying Price per Square Meter (City Centre) - The price per square meter to buy an apartment in the city centre averages $10011.23.
- Buying Price per Square Meter (Outside Centre) - Outside the centre, the price per square meter averages $7150.88.
Utilities
- Basic Utilities (Electricity, Heating, Water, etc.) - Basic utilities for an 85m2 apartment cost between $107.26 and $125, averaging $116.13.
- Internet - Internet services average $53.63.
Cost of Living Rankings
The cost of living indices for Canada are compared to New York City (NYC), which serves as the baseline with an index of 100. These provide insights into the relative cost of living in different cities in Canada, covering factors like consumer goods, rent, and purchasing power.
Cost of Living Data
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"Key Takeaways"
Iqaluit presents a unique cost of living landscape, with higher-than-average prices for dining and groceries due to its remote location.
Housing costs are significant, especially for those looking to buy property in the city centre.
Transportation costs are relatively high, with limited public transport options and expensive fuel prices.
Conclusion
Living in Iqaluit offers a distinctive experience with its Arctic charm and cultural richness. However, the cost of living is notably high, influenced by its remote location and limited accessibility.
Prospective residents should prepare for elevated expenses in dining, groceries, and housing. Careful budgeting and planning are essential for managing living costs in this unique Canadian city.
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