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:

  • $ 118 for 2 ppl.
  • $ 25 per person
  • $ 17 per person
  • Free activities

Total budget:

$ 2770* (381738 ISK)

Average budget
(traveller)

Daily budget:

  • $ 168 for 2 ppl.
  • $ 58 per person
  • $ 27 per person
  • $ 15 per person

Total budget:

$ 5108* (703892 ISK)

High budget
(tourist)

Daily budget:

  • $ 243 for 2 ppl.
  • $ 103 per person
  • $ 47 per person
  • $ 29 per person

Total budget:

$ 8389* (1156064 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 2023

Cost of living: Iceland VS United States

Compare with the average cost of living in:

On average, the cost of living in Iceland in 2023 is 28% 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:

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 7% moreTravel budget and cost of living in Selfoss
Borgarnes 7% moreTravel budget and cost of living in Borgarnes
Kopavogur 1% moreTravel budget and cost of living in Kopavogur
Akureyri 0% lessTravel budget and cost of living in Akureyri
Akranes 0% lessTravel budget and cost of living in Akranes
Reykjavik 2% lessTravel budget and cost of living in Reykjavik

Show all cities (1 more)




Local prices in Iceland by expense type

Iceland: Restaurant budget

On average, budget for eating in a restaurant in Iceland is 18% more expensive than in the United States (USA).
Lunch
Lunch
$ 19/person
($ 14 to $ 33)

9% less than in the United States (USA)United States Average price in the United States (USA): $ 20
3 course dinner
3 course dinner
$ 60/person
($ 38 to $ 102)

52% more than in the United States (USA)United States Average price in the United States (USA): $ 39
McDonald's meal
McDonald's meal
$ 16/person
($ 14 to $ 19)

53% more than in the United States (USA)United States Average price in the United States (USA): $ 10
Local beer
Local beer
$ 9.4 for 500ml
($ 7.2 to $ 14)

58% more than in the United States (USA)United States Average price in the United States (USA): $ 6
Imported beer
Imported beer
$ 2.6 for 330ml
($ 2.1 to $ 3.5)

22% less than in the United States (USA)United States Average price in the United States (USA): $ 3.5
Cappuccino
Cappuccino
$ 4.7/cup
($ 3 to $ 7)

4% less than in the United States (USA)United States Average price in the United States (USA): $ 4.9
Fizzy drink
Fizzy drink
$ 2.8/can
($ 2 to $ 3.8)

17% more than in the United States (USA)United States Average price in the United States (USA): $ 2.4
Water bottle
Water bottle
$ 2.1/bottle
($ 1.4 to $ 3.5)

2% more than in the United States (USA)United States Average price in the United States (USA): $ 2.1

Iceland: Hotel and accommodation budget

On average, hotel and accommodation budget in Iceland is 10% more expensive than in the United States (USA).
1-star hotel
1-star hotel
$ 132/night
($ 121 to $ 156)

13% more than in the United States (USA)United States Average price in the United States (USA): $ 118
2-star hotel
2-star hotel
$ 139/night
($ 101 to $ 220)

0% less than in the United States (USA)United States Average price in the United States (USA): $ 140
3-star hotel
3-star hotel
$ 196/night
($ 116 to $ 354)

3% less than in the United States (USA)United States Average price in the United States (USA): $ 203
4-star hotel
4-star hotel
$ 290/night
($ 190 to $ 500)

3% less than in the United States (USA)United States Average price in the United States (USA): $ 301
5-star hotel
5-star hotel
$ 773/night
($ 693 to $ 856)

28% more than in the United States (USA)United States Average price in the United States (USA): $ 607
Hostel/Youth Hostel
Hostel/Youth Hostel
$ 131/month
($ 104 to $ 167)

1% less than in the United States (USA)United States Average price in the United States (USA): $ 133
Room with kitchen
Room with kitchen
$ 277/month
($ 159 to $ 528)

37% more than in the United States (USA)United States Average price in the United States (USA): $ 203
Hotel with swimming pool
Hotel with swimming pool
$ 210/month
($ 159 to $ 298)

14% more than in the United States (USA)United States Average price in the United States (USA): $ 185
Cottage or guest house
Cottage or guest house
$ 134/month
($ 99 to $ 191)

46% less than in the United States (USA)United States Average price in the United States (USA): $ 252
Family room
Family room
$ 301/month
($ 174 to $ 615)

60% more than in the United States (USA)United States Average price in the United States (USA): $ 189

Iceland: Supermarket food budget

On average, the price of supermarket food in Iceland is 6% more expensive than in the United States (USA).
Milk
Milk
$ 1.5/litre
($ 1.2 to $ 2.1)

49% more than in the United States (USA)United States Average price in the United States (USA): $ 1
Bread
Bread
$ 3.4/500g
($ 2.2 to $ 5.8)

5% less than in the United States (USA)United States Average price in the United States (USA): $ 3.6
Rice
Rice
$ 3.2/kg
($ 1.4 to $ 5.7)

31% less than in the United States (USA)United States Average price in the United States (USA): $ 4.6
Eggs
Eggs
$ 5.8/12 eggs
($ 4.3 to $ 8.7)

35% more than in the United States (USA)United States Average price in the United States (USA): $ 4.3
Chicken
Chicken
$ 19/kg
($ 14 to $ 26)

50% more than in the United States (USA)United States Average price in the United States (USA): $ 13
Apples
Apples
$ 3.1/kg
($ 1.9 to $ 5.5)

43% less than in the United States (USA)United States Average price in the United States (USA): $ 5.4
Tomatoes
Tomatoes
$ 4.8/kg
($ 2.2 to $ 7.2)

3% more than in the United States (USA)United States Average price in the United States (USA): $ 4.7
Potatoes
Potatoes
$ 3/kg
($ 1.6 to $ 3.9)

2% less than in the United States (USA)United States Average price in the United States (USA): $ 3.1
Water bottle
Water bottle
$ 2.1
($ 0.8 to $ 3.8)

3% less than in the United States (USA)United States Average price in the United States (USA): $ 2.2

Iceland: Public and private transport budget

On average, the price of transport in Iceland is 48% more expensive than in the United States (USA).
Bus ticket
Bus ticket
$ 4/ticket
($ 3.6 to $ 4.3)

61% more than in the United States (USA)United States Average price in the United States (USA): $ 2.5
Taxi (per km)
Taxi (per km)
$ 2.4/km
($ 2.1 to $ 3.5)

38% more than in the United States (USA)United States Average price in the United States (USA): $ 1.7
Petrol
Petrol
$ 2.3/litre
($ 2 to $ 2.5)

128% more than in the United States (USA)United States Average price in the United States (USA): $ 1
Taxi (initial pick-up charge)
Taxi (initial pick-up charge)
$ 5.4
($ 5.1 to $ 7.2)

50% more than in the United States (USA)United States Average price in the United States (USA): $ 3.5
Car hire
Car hire
$ 20/24hrs
($ 8.7 to $ 290)

35% less than in the United States (USA)United States Average price in the United States (USA): $ 31

Iceland: Leisure activity budget

On average, budget for leisure activities in Iceland is 29% more expensive than in the United States (USA).
Cinema
Cinema
$ 15/ticket
($ 11 to $ 18)

11% more than in the United States (USA)United States Average price in the United States (USA): $ 13
Tennis
Tennis
$ 32/hr
($ 20 to $ 44)

47% more than in the United States (USA)United States Average price in the United States (USA): $ 21

Iceland: Budget for clothes and price of cigarettes

On average, shopping budget in Iceland is 55% more expensive than in the United States (USA).
Cigarettes
Cigarettes
$ 12/pack
($ 11 to $ 15)

30% more than in the United States (USA)United States Average price in the United States (USA): $ 9
Levi's jeans
Levi's jeans
$ 118
($ 60 to $ 146)

122% more than in the United States (USA)United States Average price in the United States (USA): $ 53
Summer dress
Summer dress
$ 50
($ 29 to $ 118)

14% more than in the United States (USA)United States Average price in the United States (USA): $ 43

Plane ticket budget

New York City → Reykjavik
New York City → Reykjavik
New York City → Reykjavik
$ 466
(fair price: $ 371)
London → Reykjavik
London → Reykjavik
London → Reykjavik
$ 123
(fair price: $ 110)
Dublin → Reykjavik
Dublin → Reykjavik
Dublin → Reykjavik
$ 197
(fair price: $ 175)
Manchester → Reykjavik
Manchester → Reykjavik
Manchester → Reykjavik
$ 207
(fair price: $ 174)
Chicago → Reykjavik
Chicago → Reykjavik
Chicago → Reykjavik
$ 694
(fair price: $ 599)
Toronto → Reykjavik
Toronto → Reykjavik
Toronto → Reykjavik
$ 588
(fair price: $ 482)

Book a flight Flight prices to Iceland





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 26-11-2023.

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