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:

  • $ 109 for 2 ppl.
  • $ 21 per person
  • $ 15 per person
  • Free activities

Total budget:

$ 2498* (330400 ISK)

Average budget
(traveller)

Daily budget:

  • $ 168 for 2 ppl.
  • $ 55 per person
  • $ 25 per person
  • $ 13 per person

Total budget:

$ 4900* (648284 ISK)

High budget
(tourist)

Daily budget:

  • $ 244 for 2 ppl.
  • $ 99 per person
  • $ 44 per person
  • $ 25 per person

Total budget:

$ 8067* (1067248 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 2020

Cost of living: Iceland VS United States

On average, the cost of living in Iceland in 2020 is essentially the same as 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:

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
Reykjavik 10% moreTravel budget and cost of living in Reykjavik
Dalvik 9% moreTravel budget and cost of living in Dalvik
Kopavogur 4% moreTravel budget and cost of living in Kopavogur
Akureyri 2% moreTravel budget and cost of living in Akureyri
Akranes 2% lessTravel budget and cost of living in Akranes

Show all cities (1 more)


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Local prices in Iceland by expense type

Iceland: Restaurant budget

On average, budget for eating in a restaurant in Iceland is 34% more expensive than in the United States (USA).
Lunch
Lunch
$ 21/person
($ 12 to $ 35)

21% more than in the United States (USA)United States Average price in the United States (USA): $ 16
3 course dinner
3 course dinner
$ 54/person
($ 38 to $ 218)

80% more than in the United States (USA)United States Average price in the United States (USA): $ 30
McDonald's meal
McDonald's meal
$ 13/person
($ 12 to $ 16)

52% more than in the United States (USA)United States Average price in the United States (USA): $ 8.5
Local beer
Local beer
$ 9.2 for 500ml
($ 6.6 to $ 12)

74% more than in the United States (USA)United States Average price in the United States (USA): $ 5.3
Imported beer
Imported beer
$ 2.9 for 330ml
($ 2.3 to $ 3.8)

9% less than in the United States (USA)United States Average price in the United States (USA): $ 3.1
Cappuccino
Cappuccino
$ 4.4/cup
($ 3 to $ 6.1)

1% less than in the United States (USA)United States Average price in the United States (USA): $ 4.5
Fizzy drink
Fizzy drink
$ 2.6/can
($ 1.6 to $ 4.5)

32% more than in the United States (USA)United States Average price in the United States (USA): $ 2
Water bottle
Water bottle
$ 2/bottle
($ 1.6 to $ 2.6)

24% more than in the United States (USA)United States Average price in the United States (USA): $ 1.6

Iceland: Hotel and accommodation budget

On average, hotel and accommodation budget in Iceland is 24% more expensive than in the United States (USA).
1-star hotel
1-star hotel
$ 122/night
($ 95 to $ 165)

13% more than in the United States (USA)United States Average price in the United States (USA): $ 109
2-star hotel
2-star hotel
$ 144/night
($ 115 to $ 180)

15% more than in the United States (USA)United States Average price in the United States (USA): $ 126
3-star hotel
3-star hotel
$ 192/night
($ 134 to $ 263)

7% more than in the United States (USA)United States Average price in the United States (USA): $ 180
4-star hotel
4-star hotel
$ 296/night
($ 218 to $ 400)

13% more than in the United States (USA)United States Average price in the United States (USA): $ 262
5-star hotel
5-star hotel
$ 984/night
($ 912 to $ 1056)

94% more than in the United States (USA)United States Average price in the United States (USA): $ 510
Hotel/Youth Hostel
Hotel/Youth Hostel
$ 125/month
($ 97 to $ 152)

7% less than in the United States (USA)United States Average price in the United States (USA): $ 136
Room with kitchen
Room with kitchen
$ 257/month
($ 192 to $ 345)

53% more than in the United States (USA)United States Average price in the United States (USA): $ 169
Hotel with swimming pool
Hotel with swimming pool
$ 210/month
($ 192 to $ 234)

27% more than in the United States (USA)United States Average price in the United States (USA): $ 165
Cottage or guest house
Cottage or guest house
$ 161/month
($ 127 to $ 207)

27% less than in the United States (USA)United States Average price in the United States (USA): $ 223
Family room
Family room
$ 273/month
($ 204 to $ 370)

57% more than in the United States (USA)United States Average price in the United States (USA): $ 175

Iceland: Supermarket food budget

On average, the price of supermarket food in Iceland is 18% more expensive than in the United States (USA).
Milk
Milk
$ 1.3/litre
($ 1.2 to $ 1.6)

45% more than in the United States (USA)United States Average price in the United States (USA): $ 0.9
Bread
Bread
$ 3.1/500g
($ 2.3 to $ 6.9)

7% more than in the United States (USA)United States Average price in the United States (USA): $ 2.9
Rice
Rice
$ 3/kg
($ 1.6 to $ 4.7)

31% less than in the United States (USA)United States Average price in the United States (USA): $ 4.3
Eggs
Eggs
$ 5.1/12 eggs
($ 3.7 to $ 6.3)

108% more than in the United States (USA)United States Average price in the United States (USA): $ 2.5
Cheese
Cheese
$ 13/kg
($ 7.6 to $ 24)

11% more than in the United States (USA)United States Average price in the United States (USA): $ 12
Chicken
Chicken
$ 18/kg
($ 15 to $ 22)

90% more than in the United States (USA)United States Average price in the United States (USA): $ 9.1
Apples
Apples
$ 2.5/kg
($ 1.4 to $ 3.5)

49% less than in the United States (USA)United States Average price in the United States (USA): $ 4.9
Oranges
Oranges
$ 2.3/kg
($ 1.9 to $ 3.8)

47% less than in the United States (USA)United States Average price in the United States (USA): $ 4.4
Tomatoes
Tomatoes
$ 4.2/kg
($ 2.4 to $ 5.9)

8% less than in the United States (USA)United States Average price in the United States (USA): $ 4.6
Potatoes
Potatoes
$ 2.5/kg
($ 1.6 to $ 3.8)

12% less than in the United States (USA)United States Average price in the United States (USA): $ 2.8
Salad
Salad
$ 2.3/salad
($ 1.1 to $ 3.1)

34% more than in the United States (USA)United States Average price in the United States (USA): $ 1.7
Water bottle
Water bottle
$ 1.7
($ 1 to $ 2.3)

13% less than in the United States (USA)United States Average price in the United States (USA): $ 1.9
Joint of beef
Joint of beef
$ 26/kg
($ 20 to $ 39)

93% more than in the United States (USA)United States Average price in the United States (USA): $ 13

Iceland: Public and private transport budget

On average, the price of transport in Iceland is 56% more expensive than in the United States (USA).
Bus ticket
Bus ticket
$ 3.6/ticket
($ 3.5 to $ 3.7)

37% more than in the United States (USA)United States Average price in the United States (USA): $ 2.6
Bus pass
Bus pass
$ 98/month
($ 85 to $ 101)

29% more than in the United States (USA)United States Average price in the United States (USA): $ 77
Taxi (per km)
Taxi (per km)
$ 2.3/km
($ 1.9 to $ 3.5)

29% more than in the United States (USA)United States Average price in the United States (USA): $ 1.8
Petrol
Petrol
$ 1.7/litre
($ 1.6 to $ 1.9)

133% more than in the United States (USA)United States Average price in the United States (USA): $ 0.7
Taxi (initial pick-up charge)
Taxi (initial pick-up charge)
$ 5.4
($ 5.3 to $ 8.4)

59% more than in the United States (USA)United States Average price in the United States (USA): $ 3.4
Car hire
Car hire
$ 59/24hrs
($ 6 to $ 145)

49% more than in the United States (USA)United States Average price in the United States (USA): $ 40

Iceland: Budget for living and housing

On average, the cost of housing in Iceland costs 14% less than in the United States (USA).
Electricity, water...
Electricity, water...
$ 101/month
($ 51 to $ 155)

41% less than in the United States (USA)United States Average price in the United States (USA): $ 170
Mobile phone
Mobile phone
$ 0.1/min.
($ 0.1 to $ 0.2)

17% more than in the United States (USA)United States Average price in the United States (USA): $ 0.1
Broadband internet
Broadband internet
$ 66/month
($ 47 to $ 108)

5% less than in the United States (USA)United States Average price in the United States (USA): $ 70
Studio flat (city centre)
Studio flat (city centre)
$ 1378/month
($ 996 to $ 1914)

4% less than in the United States (USA)United States Average price in the United States (USA): $ 1447
Studio flat (suburbs)
Studio flat (suburbs)
$ 1132/month
($ 766 to $ 1543)

1% less than in the United States (USA)United States Average price in the United States (USA): $ 1155
Flat (centre)
Flat (centre)
$ 2148/month
($ 1531 to $ 3061)

7% less than in the United States (USA)United States Average price in the United States (USA): $ 2323
Flat (suburbs)
Flat (suburbs)
$ 1866/month
($ 1416 to $ 2449)

2% more than in the United States (USA)United States Average price in the United States (USA): $ 1830
Gym
Gym
$ 58/month
($ 47 to $ 89)

40% more than in the United States (USA)United States Average price in the United States (USA): $ 41
Private nursery
Private nursery
$ 271/month
($ 200 to $ 369)

73% less than in the United States (USA)United States Average price in the United States (USA): $ 1003
Private primary school
Private primary school
$ 6060/yr
($ 2572 to $ 9181)

65% less than in the United States (USA)United States Average price in the United States (USA): $ 17436

Iceland: Leisure activity budget

On average, budget for leisure activities in Iceland is 49% more expensive than in the United States (USA).
Cinema
Cinema
$ 13/ticket
($ 11 to $ 15)

3% less than in the United States (USA)United States Average price in the United States (USA): $ 13
Tennis
Tennis
$ 35/hr
($ 24 to $ 51)

101% more than in the United States (USA)United States Average price in the United States (USA): $ 17

Iceland: Budget for clothes and price of cigarettes

On average, shopping budget in Iceland is 72% more expensive than in the United States (USA).
Cigarettes
Cigarettes
$ 12/pack
($ 10.5 to $ 14)

32% more than in the United States (USA)United States Average price in the United States (USA): $ 8.5
Levi's jeans
Levi's jeans
$ 116
($ 63 to $ 155)

142% more than in the United States (USA)United States Average price in the United States (USA): $ 48
Summer dress
Summer dress
$ 54
($ 24 to $ 93)

39% more than in the United States (USA)United States Average price in the United States (USA): $ 39
Trainers
Trainers
$ 141
($ 93 to $ 193)

74% more than in the United States (USA)United States Average price in the United States (USA): $ 82
Leather shoes
Leather shoes
$ 176
($ 116 to $ 269)

71% more than in the United States (USA)United States Average price in the United States (USA): $ 103

Plane ticket budget

New York City → Reykjavik
New York City → Reykjavik
New York City → Reykjavik
$ 548
(fair price: $ 453)
Los Angeles → Reykjavik
Los Angeles  → Reykjavik
Los Angeles  → Reykjavik
$ 884
(fair price: $ 772)
Toronto (Ontario) → Reykjavik
Toronto (Ontario) → Reykjavik
Toronto (Ontario) → Reykjavik
$ 610
(fair price: $ 513)
Manchester → Reykjavik
Manchester → Reykjavik
Manchester → Reykjavik
$ 269
(fair price: $ 228)
Dublin → Reykjavik
Dublin → Reykjavik
Dublin → Reykjavik
$ 243
(fair price: $ 206)
Edinburgh → Reykjavik
Edinburgh → Reykjavik
Edinburgh → Reykjavik
$ 311
(fair price: $ 255)
Montreal → Reykjavik
Montreal → Reykjavik
Montreal → Reykjavik
$ 802
(fair price: $ 682)
London → Reykjavik
London → Reykjavik
London → Reykjavik
$ 216
(fair price: $ 180)
Sydney → Reykjavik
Sydney → Reykjavik
Sydney → Reykjavik
$ 1719
(fair price: $ 1438)
Melbourne → Reykjavik
Melbourne → Reykjavik
Melbourne → Reykjavik
$ 1553
(fair price: $ 1399)
Perth → Reykjavik
Perth → Reykjavik
Perth → Reykjavik
$ 1457
(fair price: $ 1280)
Auckland → Reykjavik
Auckland → Reykjavik
Auckland → Reykjavik
$ 1747
(fair price: $ 1514)

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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 04-07-2020.

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