Travel budget and cost of living in Iceland how much does a trip cost?
Are you planning to go to Iceland and need to budget for your trip? On this page you can see sample prices. This enables you to get to grips with actual prices and the cost of living in Iceland. Then, why not use our free tool to calculate your Iceland travel budget.
Travel budget in Iceland
Iceland: calculate your travel budget
Iceland: sample budgets by traveller type
These example budgets assume a 2-week holiday in Iceland for 2 people.
Low budget
(backpacker)
Daily budget:
- $ 126 for 2 ppl.
- $ 27 per person
- $ 17 per person
- Free activities
Total budget:
$ 2955* (413700 ISK)
Average budget
(traveller)
Daily budget:
- $ 200 for 2 ppl.
- $ 63 per person
- $ 27 per person
- $ 15 per person
Total budget:
$ 5685* (795872 ISK)
High budget
(tourist)
Daily budget:
- $ 258 for 2 ppl.
- $ 107 per person
- $ 47 per person
- $ 29 per person
Total budget:
$ 8678* (1214920 ISK)
* Estimated local budget for 2 people for 2 weeks. This represents an average across the country (budget may vary depending on the city or region visited).
Cost of living in Iceland in 2024
Cost of living: Iceland VS United States
On average, the cost of living in Iceland in 2024 is 27% higher than in the United States (USA).
The graphic below shows the percentage of variation between prices United States in in the United States (USA) and United States by types of expenses:
Explore each type of expense in detail:
Cost of living in Iceland by city
See the table below for the variation in the cost of living in different cities in Iceland compared to the national average.
Cities | /Iceland | View Details |
---|---|---|
Selfoss | 9% more | Travel budget and cost of living in Selfoss |
Reykjavík | 2% more | Travel budget and cost of living in Reykjavík |
Akureyri | 2% more | Travel budget and cost of living in Akureyri |
Kopavogur | 2% more | Travel budget and cost of living in Kopavogur |
Borgarnes | 1% less | Travel budget and cost of living in Borgarnes |
Akranes | 3% less | Travel budget and cost of living in Akranes |
Local prices in Iceland by expense type
Iceland: Restaurant budget
($ 15 to $ 37)
7% more than in the United States (USA) Average price in the United States (USA): $ 21
($ 37 to $ 101)
52% more than in the United States (USA) Average price in the United States (USA): $ 39
($ 15 to $ 19)
50% more than in the United States (USA) Average price in the United States (USA): $ 11
($ 6.4 to $ 13)
66% more than in the United States (USA) Average price in the United States (USA): $ 6
($ 1.8 to $ 3.5)
26% less than in the United States (USA) Average price in the United States (USA): $ 3.6
($ 3 to $ 7.1)
5% less than in the United States (USA) Average price in the United States (USA): $ 5.1
($ 2 to $ 3.8)
13% more than in the United States (USA) Average price in the United States (USA): $ 2.5
($ 1.4 to $ 3.4)
0% less than in the United States (USA) Average price in the United States (USA): $ 2.1
Iceland: Hotel and accommodation budget
($ 109 to $ 278)
21% more than in the United States (USA) Average price in the United States (USA): $ 168
($ 83 to $ 305)
9% more than in the United States (USA) Average price in the United States (USA): $ 157
($ 88 to $ 455)
1% more than in the United States (USA) Average price in the United States (USA): $ 229
($ 133 to $ 511)
7% less than in the United States (USA) Average price in the United States (USA): $ 306
($ 215 to $ 506)
22% less than in the United States (USA) Average price in the United States (USA): $ 482
($ 112 to $ 439)
16% more than in the United States (USA) Average price in the United States (USA): $ 165
($ 106 to $ 668)
5% more than in the United States (USA) Average price in the United States (USA): $ 241
($ 124 to $ 517)
10% more than in the United States (USA) Average price in the United States (USA): $ 212
($ 115 to $ 490)
7% less than in the United States (USA) Average price in the United States (USA): $ 224
($ 147 to $ 879)
56% more than in the United States (USA) Average price in the United States (USA): $ 215
Iceland: Supermarket food budget
($ 1.2 to $ 2.1)
50% more than in the United States (USA) Average price in the United States (USA): $ 1.1
($ 2.1 to $ 7.1)
4% less than in the United States (USA) Average price in the United States (USA): $ 3.6
($ 1.8 to $ 4.9)
31% less than in the United States (USA) Average price in the United States (USA): $ 4.6
($ 4.3 to $ 8.1)
53% more than in the United States (USA) Average price in the United States (USA): $ 3.7
($ 12 to $ 26)
51% more than in the United States (USA) Average price in the United States (USA): $ 13
($ 1.8 to $ 5.4)
41% less than in the United States (USA) Average price in the United States (USA): $ 5.3
($ 2.3 to $ 7.1)
6% less than in the United States (USA) Average price in the United States (USA): $ 4.9
($ 1.6 to $ 5)
0% less than in the United States (USA) Average price in the United States (USA): $ 3
($ 0.8 to $ 3.5)
4% less than in the United States (USA) Average price in the United States (USA): $ 2.2
Iceland: Public and private transport budget
($ 3.5 to $ 4.5)
62% more than in the United States (USA) Average price in the United States (USA): $ 2.5
($ 2 to $ 3.4)
32% more than in the United States (USA) Average price in the United States (USA): $ 1.7
($ 1.9 to $ 2.4)
129% more than in the United States (USA) Average price in the United States (USA): $ 1
($ 5 to $ 6.3)
39% more than in the United States (USA) Average price in the United States (USA): $ 3.8
($ 33 to $ 135)
24% more than in the United States (USA) Average price in the United States (USA): $ 55
Iceland: Leisure activity budget
($ 12 to $ 18)
2% more than in the United States (USA) Average price in the United States (USA): $ 15
($ 20 to $ 43)
29% more than in the United States (USA) Average price in the United States (USA): $ 24
Iceland: Budget for clothes and price of cigarettes
($ 11 to $ 15)
14% more than in the United States (USA) Average price in the United States (USA): $ 11
($ 59 to $ 143)
116% more than in the United States (USA) Average price in the United States (USA): $ 54
($ 28 to $ 115)
15% more than in the United States (USA) Average price in the United States (USA): $ 44
Plane ticket budget
(fair price: $ 353)
(fair price: $ 110)
(fair price: $ 414)
(fair price: $ 171)
(fair price: $ 614)
(fair price: $ 178)
About the information on the cost of living in Iceland
The information about the cost of living in Iceland shown on this page comes from multiple sources, including : Numbeo, Skyscanner and Hotels.com.
Information about cost of living in Iceland updated on 24-04-2024.
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