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:

  • $ 155 for 2 ppl.
  • $ 31 per person
  • $ 20 per person
  • Free activities

Total budget:

$ 3566* (432432 ISK)

Average budget
(traveller)

Daily budget:

  • $ 234 for 2 ppl.
  • $ 71 per person
  • $ 31 per person
  • $ 17 per person

Total budget:

$ 6545* (793744 ISK)

High budget
(tourist)

Daily budget:

  • $ 292 for 2 ppl.
  • $ 119 per person
  • $ 52 per person
  • $ 33 per person

Total budget:

$ 9750* (1182538 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 2025

Cost of living: Iceland VS United States

Compare with the average cost of living in:

On average, the cost of living in Iceland in 2025 is 32% 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:

Created with Highcharts 8.2.2%+24%+24%+11%+11%+11%+11%+58%+58%+31%+31%+54%+54%Price variation between Iceland and United States in 2025RestaurantHotelFoodTransportLeisure activitiesShopping010203040506070



Local prices in Iceland by expense type

Iceland: Restaurant budget

On average, budget for eating in a restaurant in Iceland is 24% more expensive than in the United States (USA).
Created with Highcharts 8.2.2Price (USD)Restaurant: sample prices in Iceland compared to United States2222424213136.66.62424656520201212United StatesIcelandLunch3 course dinnerMcDonald's mealLocal beer0510152025303540455055606570
Lunch
Lunch
$ 24/person
($ 16 to $ 40)

3% more than in the United States (USA)United States Average price in the United States (USA): $ 22
3 course dinner
3 course dinner
$ 65/person
($ 40 to $ 112)

57% more than in the United States (USA)United States Average price in the United States (USA): $ 42
McDonald's meal
McDonald's meal
$ 20/person
($ 16 to $ 23)

58% more than in the United States (USA)United States Average price in the United States (USA): $ 13
Local beer
Local beer
$ 12 for 500ml
($ 7.6 to $ 15)

75% more than in the United States (USA)United States Average price in the United States (USA): $ 6.6
Imported beer
Imported beer
$ 2.9 for 330ml
($ 2.1 to $ 3.8)

24% less than in the United States (USA)United States Average price in the United States (USA): $ 3.9
Cappuccino
Cappuccino
$ 5.5/cup
($ 3.3 to $ 7.6)

2% less than in the United States (USA)United States Average price in the United States (USA): $ 5.7
Fizzy drink
Fizzy drink
$ 3.3/can
($ 2.3 to $ 4.3)

20% more than in the United States (USA)United States Average price in the United States (USA): $ 2.8
Water bottle
Water bottle
$ 2.5/bottle
($ 1.8 to $ 3.8)

7% more than in the United States (USA)United States Average price in the United States (USA): $ 2.3

Iceland: Hotel and accommodation budget

On average, hotel and accommodation budget in Iceland is 11% more expensive than in the United States (USA).
Created with Highcharts 8.2.2Price (USD)Hotel: sample prices in Iceland compared to United States168168248248349349179179256256205205264264321321207207234234United StatesIceland2-star hotel3-star hotel4-star hotelHostel/Youth HostelCottage or guest house0100200300255075125150175225250275325350375
1-star hotel
1-star hotel
$ 187/night
($ 123 to $ 408)

6% more than in the United States (USA)United States Average price in the United States (USA): $ 177
2-star hotel
2-star hotel
$ 205/night
($ 112 to $ 463)

22% more than in the United States (USA)United States Average price in the United States (USA): $ 168
3-star hotel
3-star hotel
$ 264/night
($ 124 to $ 650)

7% more than in the United States (USA)United States Average price in the United States (USA): $ 248
4-star hotel
4-star hotel
$ 321/night
($ 174 to $ 887)

8% less than in the United States (USA)United States Average price in the United States (USA): $ 349
5-star hotel
5-star hotel
$ 478/night
($ 369 to $ 775)

16% less than in the United States (USA)United States Average price in the United States (USA): $ 570
Hostel/Youth Hostel
Hostel/Youth Hostel
$ 207/month
($ 131 to $ 449)

16% more than in the United States (USA)United States Average price in the United States (USA): $ 179
Room with kitchen
Room with kitchen
$ 287/month
($ 113 to $ 825)

8% more than in the United States (USA)United States Average price in the United States (USA): $ 266
Hotel with swimming pool
Hotel with swimming pool
$ 253/month
($ 146 to $ 510)

12% more than in the United States (USA)United States Average price in the United States (USA): $ 226
Cottage or guest house
Cottage or guest house
$ 234/month
($ 151 to $ 476)

8% less than in the United States (USA)United States Average price in the United States (USA): $ 256
Family room
Family room
$ 374/month
($ 170 to $ 989)

71% more than in the United States (USA)United States Average price in the United States (USA): $ 220

Iceland: Supermarket food budget

On average, the price of supermarket food in Iceland is 11% more expensive than in the United States (USA).
Created with Highcharts 8.2.2Price (USD)Food: sample prices in Iceland compared to United States4.14.114145.45.43.23.26.26.22323553.53.5United StatesIcelandEggsChickenTomatoesPotatoes012345678910111213141516171819202122232425
Milk
Milk
$ 1.9/litre
($ 1.4 to $ 2.3)

59% more than in the United States (USA)United States Average price in the United States (USA): $ 1.2
Bread
Bread
$ 3.8/500g
($ 2.2 to $ 7.9)

4% less than in the United States (USA)United States Average price in the United States (USA): $ 3.9
Rice
Rice
$ 3.4/kg
($ 2.2 to $ 5.2)

32% less than in the United States (USA)United States Average price in the United States (USA): $ 5
Eggs
Eggs
$ 6.2/12 eggs
($ 4.7 to $ 8.6)

54% more than in the United States (USA)United States Average price in the United States (USA): $ 4.1
Chicken
Chicken
$ 23/kg
($ 13 to $ 30)

67% more than in the United States (USA)United States Average price in the United States (USA): $ 14
Apples
Apples
$ 3.3/kg
($ 2.1 to $ 5.9)

43% less than in the United States (USA)United States Average price in the United States (USA): $ 5.8
Tomatoes
Tomatoes
$ 5/kg
($ 2.5 to $ 7.2)

5% less than in the United States (USA)United States Average price in the United States (USA): $ 5.4
Potatoes
Potatoes
$ 3.5/kg
($ 1.8 to $ 4.7)

8% more than in the United States (USA)United States Average price in the United States (USA): $ 3.2
Water bottle
Water bottle
$ 2.3
($ 0.9 to $ 4)

4% less than in the United States (USA)United States Average price in the United States (USA): $ 2.4

Iceland: Public and private transport budget

On average, the price of transport in Iceland is 58% more expensive than in the United States (USA).
Created with Highcharts 8.2.2Price (USD)Transport: sample prices in Iceland compared to United States2.72.71.91.91182824.94.92.62.62.52.57272United StatesIcelandBus ticketTaxi (per km)PetrolCar hire051015202530354045505560657075808590
Bus ticket
Bus ticket
$ 4.9/ticket
($ 4.3 to $ 5.2)

82% more than in the United States (USA)United States Average price in the United States (USA): $ 2.7
Taxi (per km)
Taxi (per km)
$ 2.6/km
($ 2.2 to $ 3.8)

36% more than in the United States (USA)United States Average price in the United States (USA): $ 1.9
Petrol
Petrol
$ 2.5/litre
($ 2.1 to $ 2.6)

135% 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)
$ 5.9
($ 5.8 to $ 7.9)

47% more than in the United States (USA)United States Average price in the United States (USA): $ 4
Car hire
Car hire
$ 72/24hrs
($ 43 to $ 133)

11% less than in the United States (USA)United States Average price in the United States (USA): $ 82

Iceland: Leisure activity budget

On average, budget for leisure activities in Iceland is 31% more expensive than in the United States (USA).
Cinema
Cinema
$ 17/ticket
($ 14 to $ 20)

6% more than in the United States (USA)United States Average price in the United States (USA): $ 16
Tennis
Tennis
$ 37/hr
($ 22 to $ 60)

56% more than in the United States (USA)United States Average price in the United States (USA): $ 24

Iceland: Budget for clothes and price of cigarettes

On average, shopping budget in Iceland is 54% more expensive than in the United States (USA).
Cigarettes
Cigarettes
$ 14/pack
($ 12 to $ 15)

22% more than in the United States (USA)United States Average price in the United States (USA): $ 11
Levi's jeans
Levi's jeans
$ 127
($ 66 to $ 159)

120% more than in the United States (USA)United States Average price in the United States (USA): $ 58
Summer dress
Summer dress
$ 58
($ 31 to $ 127)

22% more than in the United States (USA)United States Average price in the United States (USA): $ 47

Plane ticket budget

London → Reykjavík
London → Reykjavík
London → Reykjavík
$ 199
(fair price: $ 158)
Manchester → Reykjavík
Manchester → Reykjavík
Manchester → Reykjavík
$ 273
(fair price: $ 218)
New York City → Reykjavík
New York City → Reykjavík
New York City → Reykjavík
$ 447
(fair price: $ 375)
Montreal → Reykjavík
Montreal → Reykjavík
Montreal → Reykjavík
$ 827
(fair price: $ 771)
Toronto → Reykjavík
Toronto → Reykjavík
Toronto → Reykjavík
$ 538
(fair price: $ 433)
Dublin → Reykjavík
Dublin → Reykjavík
Dublin → Reykjavík
$ 267
(fair price: $ 219)

Book a flight




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 12-11-2024.

Change currency