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:

  • $ 113 for 2 ppl.
  • $ 22 per person
  • $ 16 per person
  • Free activities

Total budget:

$ 2594* (307552 ISK)

Average budget
(traveller)

Daily budget:

  • $ 168 for 2 ppl.
  • $ 56 per person
  • $ 27 per person
  • $ 14 per person

Total budget:

$ 5034* (596960 ISK)

High budget
(tourist)

Daily budget:

  • $ 251 for 2 ppl.
  • $ 100 per person
  • $ 49 per person
  • $ 27 per person

Total budget:

$ 8371* (992754 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 2019

Cost of living: Iceland VS United States

On average, the cost of living in Iceland in 2019 is essentially the same as in United States

The graphic below shows the percentage of variation between prices in Iceland in 2019 and United States by types of expenses:

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
Borgarnes 12% moreTravel budget and cost of living in Borgarnes
Dalvik 7% moreTravel budget and cost of living in Dalvik
Reykjavik 4% moreTravel budget and cost of living in Reykjavik
Akureyri 2% moreTravel budget and cost of living in Akureyri
Kopavogur 1% moreTravel budget and cost of living in Kopavogur
Selfoss 3% lessTravel budget and cost of living in Selfoss

Show all cities (1 more)


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Local prices in Iceland by expense type

Restaurant budget in Iceland

On average, budget for eating in a restaurant in Iceland is 48% more expensive than in United States.
Lunch
Lunch
$ 22/person
($ 15 to $ 28)

37% more than United StatesUnited States Average price in United States: $ 16
3 course dinner
3 course dinner
$ 54/person
($ 35 to $ 81)

92% more than United StatesUnited States Average price in United States: $ 28
McDonald's meal
McDonald's meal
$ 14/person
($ 12 to $ 17)

78% more than United StatesUnited States Average price in United States: $ 7.5
Local beer
Local beer
$ 9.2 for 500ml
($ 8.4 to $ 11)

117% more than United StatesUnited States Average price in United States: $ 4.3
Imported beer
Imported beer
$ 2.9 for 330ml
($ 2.4 to $ 3.6)

6% less than in United StatesUnited States Average price in United States: $ 3
Cappuccino
Cappuccino
$ 4.7/cup
($ 3.8 to $ 5.5)

7% more than United StatesUnited States Average price in United States: $ 4.3
Fizzy drink
Fizzy drink
$ 2.5/can
($ 1.3 to $ 3.8)

30% more than United StatesUnited States Average price in United States: $ 1.9
Water bottle
Water bottle
$ 2/bottle
($ 1.3 to $ 3)

34% more than United StatesUnited States Average price in United States: $ 1.5

Hotel and accommodation budget in Iceland

On average, hotel and accommodation budget in Iceland is 28% more expensive than in United States.
1-star hotel
1-star hotel
$ 131/night
($ 98 to $ 182)

23% more than United StatesUnited States Average price in United States: $ 107
2-star hotel
2-star hotel
$ 141/night
($ 107 to $ 188)

14% more than United StatesUnited States Average price in United States: $ 125
3-star hotel
3-star hotel
$ 195/night
($ 134 to $ 290)

11% more than United StatesUnited States Average price in United States: $ 177
4-star hotel
4-star hotel
$ 306/night
($ 228 to $ 415)

19% more than United StatesUnited States Average price in United States: $ 259
5-star hotel
5-star hotel
$ 935/night
($ 906 to $ 964)

88% more than United StatesUnited States Average price in United States: $ 498
Hotel/Youth Hostel
Hotel/Youth Hostel
$ 127/month
($ 98 to $ 157)

6% more than United StatesUnited States Average price in United States: $ 120
Room with kitchen
Room with kitchen
$ 242/month
($ 182 to $ 323)

48% more than United StatesUnited States Average price in United States: $ 164
Hotel with swimming pool
Hotel with swimming pool
$ 218/month
($ 202 to $ 239)

31% more than United StatesUnited States Average price in United States: $ 167
Cottage or guest house
Cottage or guest house
$ 156/month
($ 108 to $ 282)

27% less than in United StatesUnited States Average price in United States: $ 214
Family room
Family room
$ 298/month
($ 217 to $ 429)

70% more than United StatesUnited States Average price in United States: $ 176

Supermarket food budget in Iceland

On average, the price of supermarket food in Iceland is 23% more expensive than in United States.
Milk
Milk
$ 1.3/litre
($ 1.2 to $ 1.6)

50% more than United StatesUnited States Average price in United States: $ 0.9
Bread
Bread
$ 3/500g
($ 2.3 to $ 3.8)

8% more than United StatesUnited States Average price in United States: $ 2.8
Rice
Rice
$ 2.7/kg
($ 1.7 to $ 4.9)

31% less than in United StatesUnited States Average price in United States: $ 4.1
Eggs
Eggs
$ 5.1/12 eggs
($ 4.2 to $ 6.1)

112% more than United StatesUnited States Average price in United States: $ 2.4
Cheese
Cheese
$ 15/kg
($ 11 to $ 22)

32% more than United StatesUnited States Average price in United States: $ 12
Chicken
Chicken
$ 17/kg
($ 14 to $ 21)

85% more than United StatesUnited States Average price in United States: $ 9
Apples
Apples
$ 2.5/kg
($ 1.9 to $ 3.5)

47% less than in United StatesUnited States Average price in United States: $ 4.7
Oranges
Oranges
$ 2.6/kg
($ 2.2 to $ 3.5)

39% less than in United StatesUnited States Average price in United States: $ 4.3
Tomatoes
Tomatoes
$ 4.1/kg
($ 2.5 to $ 6.5)

3% less than in United StatesUnited States Average price in United States: $ 4.2
Potatoes
Potatoes
$ 2.3/kg
($ 1.7 to $ 3.3)

16% less than in United StatesUnited States Average price in United States: $ 2.7
Salad
Salad
$ 2.4/salad
($ 1.6 to $ 3.3)

45% more than United StatesUnited States Average price in United States: $ 1.6
Water bottle
Water bottle
$ 1.8
($ 1.1 to $ 2.5)

3% less than in United StatesUnited States Average price in United States: $ 1.9
Joint of beef
Joint of beef
$ 26/kg
($ 17 to $ 35)

106% more than United StatesUnited States Average price in United States: $ 13

Public and private transport budget in Iceland

On average, the price of transport in Iceland is 62% more expensive than in United States.
Bus ticket
Bus ticket
$ 3.8/ticket
($ 3.7 to $ 3.9)

66% more than United StatesUnited States Average price in United States: $ 2.3
Bus pass
Bus pass
$ 104/month
($ 100 to $ 109)

38% more than United StatesUnited States Average price in United States: $ 76
Taxi (per km)
Taxi (per km)
$ 2.5/km
($ 2 to $ 3.7)

39% more than United StatesUnited States Average price in United States: $ 1.8
Petrol
Petrol
$ 1.9/litre
($ 1.8 to $ 2)

140% more than United StatesUnited States Average price in United States: $ 0.8
Taxi (initial pick-up charge)
Taxi (initial pick-up charge)
$ 5.9
($ 5.9 to $ 6.7)

68% more than United StatesUnited States Average price in United States: $ 3.5
Car hire
Car hire
$ 47/24hrs
($ 6 to $ 145)

19% more than United StatesUnited States Average price in United States: $ 40

Budget for living and housing in Iceland

On average, the cost of housing in Iceland is essentially the same as in United States.
Electricity, water...
Electricity, water...
$ 98/month
($ 60 to $ 161)

40% less than in United StatesUnited States Average price in United States: $ 163
Mobile phone
Mobile phone
$ 0.2/min.
($ 0.1 to $ 0.2)

67% more than United StatesUnited States Average price in United States: $ 0.1
Broadband internet
Broadband internet
$ 67/month
($ 44 to $ 85)

1% less than in United StatesUnited States Average price in United States: $ 67
Studio flat (city centre)
Studio flat (city centre)
$ 1542/month
($ 1095 to $ 2105)

13% more than United StatesUnited States Average price in United States: $ 1375
Studio flat (suburbs)
Studio flat (suburbs)
$ 1278/month
($ 927 to $ 1684)

19% more than United StatesUnited States Average price in United States: $ 1082
Flat (centre)
Flat (centre)
$ 2323/month
($ 1768 to $ 3114)

5% more than United StatesUnited States Average price in United States: $ 2231
Flat (suburbs)
Flat (suburbs)
$ 1977/month
($ 1599 to $ 2357)

14% more than United StatesUnited States Average price in United States: $ 1741
Gym
Gym
$ 65/month
($ 52 to $ 97)

62% more than United StatesUnited States Average price in United States: $ 40
Private nursery
Private nursery
$ 298/month
($ 219 to $ 379)

68% less than in United StatesUnited States Average price in United States: $ 944
Private primary school
Private primary school
$ 7292/yr
($ 5049 to $ 16827)

60% less than in United StatesUnited States Average price in United States: $ 18231

Leisure activity budget in Iceland

On average, budget for leisure activities in Iceland is 67% more expensive than in United States.
Cinema
Cinema
$ 14/ticket
($ 12 to $ 15)

2% more than United StatesUnited States Average price in United States: $ 13
Tennis
Tennis
$ 39/hr
($ 27 to $ 85)

131% more than United StatesUnited States Average price in United States: $ 17

Budget for clothes and price of cigarettes in Iceland

On average, shopping budget in Iceland is 86% more expensive than in United States.
Cigarettes
Cigarettes
$ 12/pack
($ 10.2 to $ 13)

50% more than United StatesUnited States Average price in United States: $ 7.7
Levi's jeans
Levi's jeans
$ 119
($ 69 to $ 169)

153% more than United StatesUnited States Average price in United States: $ 47
Summer dress
Summer dress
$ 57
($ 30 to $ 102)

50% more than United StatesUnited States Average price in United States: $ 38
Trainers
Trainers
$ 151
($ 110 to $ 212)

91% more than United StatesUnited States Average price in United States: $ 79
Leather shoes
Leather shoes
$ 189
($ 127 to $ 254)

86% more than United StatesUnited States Average price in United States: $ 102

Plane ticket budget

New York City → Reykjavik
New York City → Reykjavik
New York City → Reykjavik
$ 507
(fair price: $ 428)
Los Angeles → Reykjavik
Los Angeles  → Reykjavik
Los Angeles  → Reykjavik
$ 919
(fair price: $ 820)
Toronto (Ontario) → Reykjavik
Toronto (Ontario) → Reykjavik
Toronto (Ontario) → Reykjavik
$ 582
(fair price: $ 500)
London → Reykjavik
London → Reykjavik
London → Reykjavik
$ 218
(fair price: $ 181)
Manchester → Reykjavik
Manchester → Reykjavik
Manchester → Reykjavik
$ 290
(fair price: $ 247)
Dublin → Reykjavik
Dublin → Reykjavik
Dublin → Reykjavik
$ 253
(fair price: $ 207)
Edinburgh → Reykjavik
Edinburgh → Reykjavik
Edinburgh → Reykjavik
$ 342
(fair price: $ 282)
Montreal → Reykjavik
Montreal → Reykjavik
Montreal → Reykjavik
$ 745
(fair price: $ 599)
Sydney → Reykjavik
Sydney → Reykjavik
Sydney → Reykjavik
$ 1992
(fair price: $ 1725)

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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, Easyvoyage and Hotels.com.

Information about cost of living in Iceland updated on 14-07-2019.

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