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:

  • $ 110 for 2 ppl.
  • $ 22 per person
  • $ 16 per person
  • Free activities

Total budget:

$ 2572* (298690 ISK)

Average budget
(traveller)

Daily budget:

  • $ 185 for 2 ppl.
  • $ 57 per person
  • $ 28 per person
  • $ 14 per person

Total budget:

$ 5308* (616546 ISK)

High budget
(tourist)

Daily budget:

  • $ 241 for 2 ppl.
  • $ 100 per person
  • $ 49 per person
  • $ 28 per person

Total budget:

$ 8264* (959882 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 9% moreTravel budget and cost of living in Borgarnes
Dalvik 5% moreTravel budget and cost of living in Dalvik
Reykjavik 2% moreTravel budget and cost of living in Reykjavik
Akureyri 1% moreTravel budget and cost of living in Akureyri
Kopavogur 2% lessTravel budget and cost of living in Kopavogur
Akranes 3% lessTravel budget and cost of living in Akranes

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 47% more expensive than in United States.
Lunch
Lunch
$ 22/person
($ 15 to $ 30)

31% more than United StatesUnited States Average price in United States: $ 17
3 course dinner
3 course dinner
$ 52/person
($ 40 to $ 69)

86% more than United StatesUnited States Average price in United States: $ 28
McDonald's meal
McDonald's meal
$ 14/person
($ 13 to $ 17)

77% more than United StatesUnited States Average price in United States: $ 7.6
Local beer
Local beer
$ 10.2 for 500ml
($ 8.5 to $ 10.6)

110% more than United StatesUnited States Average price in United States: $ 4.9
Imported beer
Imported beer
$ 2.9 for 330ml
($ 2.5 to $ 3.6)

6% less than in United StatesUnited States Average price in United States: $ 3.1
Cappuccino
Cappuccino
$ 4.8/cup
($ 3.8 to $ 5.5)

7% more than United StatesUnited States Average price in United States: $ 4.4
Fizzy drink
Fizzy drink
$ 2.6/can
($ 1.3 to $ 4.2)

32% more than United StatesUnited States Average price in United States: $ 2
Water bottle
Water bottle
$ 2.2/bottle
($ 1.3 to $ 3)

38% more than United StatesUnited States Average price in United States: $ 1.6

Hotel and accommodation budget in Iceland

On average, hotel and accommodation budget in Iceland is 31% more expensive than in United States.
1-star hotel
1-star hotel
$ 128/night
($ 91 to $ 161)

21% more than United StatesUnited States Average price in United States: $ 107
2-star hotel
2-star hotel
$ 158/night
($ 119 to $ 193)

27% more than United StatesUnited States Average price in United States: $ 125
3-star hotel
3-star hotel
$ 212/night
($ 130 to $ 302)

20% more than United StatesUnited States Average price in United States: $ 177
4-star hotel
4-star hotel
$ 290/night
($ 198 to $ 353)

13% more than United StatesUnited States Average price in United States: $ 259
5-star hotel
5-star hotel
$ 972/night
($ 776 to $ 841)

95% more than United StatesUnited States Average price in United States: $ 499
Hotel/Youth Hostel
Hotel/Youth Hostel
$ 127/month
($ 98 to $ 156)

4% less than in United StatesUnited States Average price in United States: $ 133
Room with kitchen
Room with kitchen
$ 243/month
($ 182 to $ 327)

49% more than United StatesUnited States Average price in United States: $ 164
Hotel with swimming pool
Hotel with swimming pool
$ 247/month
($ 219 to $ 281)

49% more than United StatesUnited States Average price in United States: $ 167
Cottage or guest house
Cottage or guest house
$ 152/month
($ 107 to $ 274)

29% less than in United StatesUnited States Average price in United States: $ 217
Family room
Family room
$ 290/month
($ 211 to $ 422)

65% 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 21% more expensive than in United States.
Milk
Milk
$ 1.3/litre
($ 1.2 to $ 1.6)

49% more than United StatesUnited States Average price in United States: $ 0.9
Bread
Bread
$ 3/500g
($ 2.4 to $ 3.7)

4% more than United StatesUnited States Average price in United States: $ 2.8
Rice
Rice
$ 2.9/kg
($ 1.7 to $ 4.9)

31% less than in United StatesUnited States Average price in United States: $ 4.2
Eggs
Eggs
$ 5.3/12 eggs
($ 4.3 to $ 6.1)

113% more than United StatesUnited States Average price in United States: $ 2.5
Cheese
Cheese
$ 14/kg
($ 10.5 to $ 18)

24% more than United StatesUnited States Average price in United States: $ 12
Chicken
Chicken
$ 17/kg
($ 14 to $ 21)

79% more than United StatesUnited States Average price in United States: $ 9.3
Apples
Apples
$ 2.5/kg
($ 1.9 to $ 3.1)

48% less than in United StatesUnited States Average price in United States: $ 4.9
Oranges
Oranges
$ 2.6/kg
($ 2.2 to $ 3.6)

39% less than in United StatesUnited States Average price in United States: $ 4.4
Tomatoes
Tomatoes
$ 4.2/kg
($ 3 to $ 5.1)

3% less than in United StatesUnited States Average price in United States: $ 4.3
Potatoes
Potatoes
$ 2.3/kg
($ 1.7 to $ 3.3)

18% less than in United StatesUnited States Average price in United States: $ 2.8
Salad
Salad
$ 2.4/salad
($ 1.7 to $ 3.1)

40% more than United StatesUnited States Average price in United States: $ 1.7
Water bottle
Water bottle
$ 1.8
($ 1.1 to $ 2.5)

6% less than in United StatesUnited States Average price in United States: $ 1.9
Joint of beef
Joint of beef
$ 27/kg
($ 17 to $ 42)

109% 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 61% more expensive than in United States.
Bus ticket
Bus ticket
$ 3.9/ticket
($ 3.7 to $ 3.9)

61% more than United StatesUnited States Average price in United States: $ 2.4
Bus pass
Bus pass
$ 106/month
($ 95 to $ 110)

37% more than United StatesUnited States Average price in United States: $ 77
Taxi (per km)
Taxi (per km)
$ 2.5/km
($ 2 to $ 3.3)

38% more than United StatesUnited States Average price in United States: $ 1.9
Petrol
Petrol
$ 1.9/litre
($ 1.8 to $ 2)

141% 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 $ 6.8)

60% more than United StatesUnited States Average price in United States: $ 3.7
Car hire
Car hire
$ 51/24hrs
($ 6 to $ 145)

28% 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 $ 165)

41% less than in United StatesUnited States Average price in United States: $ 167
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
$ 71/month
($ 52 to $ 90)

3% more than United StatesUnited States Average price in United States: $ 69
Studio flat (city centre)
Studio flat (city centre)
$ 1568/month
($ 1191 to $ 2126)

13% more than United StatesUnited States Average price in United States: $ 1395
Studio flat (suburbs)
Studio flat (suburbs)
$ 1291/month
($ 936 to $ 1701)

17% more than United StatesUnited States Average price in United States: $ 1106
Flat (centre)
Flat (centre)
$ 2381/month
($ 1870 to $ 2976)

5% more than United StatesUnited States Average price in United States: $ 2268
Flat (suburbs)
Flat (suburbs)
$ 2017/month
($ 1616 to $ 2552)

14% more than United StatesUnited States Average price in United States: $ 1775
Gym
Gym
$ 66/month
($ 52 to $ 98)

67% more than United StatesUnited States Average price in United States: $ 40
Private nursery
Private nursery
$ 296/month
($ 216 to $ 384)

69% less than in United StatesUnited States Average price in United States: $ 962
Private primary school
Private primary school
$ 6308/yr
($ 2143 to $ 10201)

65% less than in United StatesUnited States Average price in United States: $ 18513

Leisure activity budget in Iceland

On average, budget for leisure activities in Iceland is 68% more expensive than in United States.
Cinema
Cinema
$ 14/ticket
($ 13 to $ 15)

4% more than United StatesUnited States Average price in United States: $ 14
Tennis
Tennis
$ 39/hr
($ 28 to $ 78)

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 85% more expensive than in United States.
Cigarettes
Cigarettes
$ 12/pack
($ 10.2 to $ 13)

46% more than United StatesUnited States Average price in United States: $ 8.1
Levi's jeans
Levi's jeans
$ 119
($ 69 to $ 163)

146% more than United StatesUnited States Average price in United States: $ 48
Summer dress
Summer dress
$ 57
($ 30 to $ 103)

45% more than United StatesUnited States Average price in United States: $ 39
Trainers
Trainers
$ 153
($ 128 to $ 213)

91% more than United StatesUnited States Average price in United States: $ 81
Leather shoes
Leather shoes
$ 201
($ 137 to $ 298)

95% more than United StatesUnited States Average price in United States: $ 103

Plane ticket budget

Los Angeles → Reykjavik
Los Angeles  → Reykjavik
Los Angeles  → Reykjavik
$ 889
(fair price: $ 789)
New York City → Reykjavik
New York City → Reykjavik
New York City → Reykjavik
$ 506
(fair price: $ 439)
Toronto (Ontario) → Reykjavik
Toronto (Ontario) → Reykjavik
Toronto (Ontario) → Reykjavik
$ 588
(fair price: $ 504)
Manchester → Reykjavik
Manchester → Reykjavik
Manchester → Reykjavik
$ 279
(fair price: $ 236)
Dublin → Reykjavik
Dublin → Reykjavik
Dublin → Reykjavik
$ 247
(fair price: $ 206)
Edinburgh → Reykjavik
Edinburgh → Reykjavik
Edinburgh → Reykjavik
$ 335
(fair price: $ 279)
London → Reykjavik
London → Reykjavik
London → Reykjavik
$ 214
(fair price: $ 174)
Montreal → Reykjavik
Montreal → Reykjavik
Montreal → Reykjavik
$ 762
(fair price: $ 628)
Sydney → Reykjavik
Sydney → Reykjavik
Sydney → Reykjavik
$ 1971
(fair price: $ 1684)

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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 08-09-2019.

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