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.
  • $ 23 per person
  • $ 17 per person
  • Free activities

Total budget:

$ 2608* (298676 ISK)

Average budget
(traveller)

Daily budget:

  • $ 179 for 2 ppl.
  • $ 60 per person
  • $ 29 per person
  • $ 14 per person

Total budget:

$ 5349* (612514 ISK)

High budget
(tourist)

Daily budget:

  • $ 248 for 2 ppl.
  • $ 108 per person
  • $ 51 per person
  • $ 28 per person

Total budget:

$ 8666* (992446 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 7% moreTravel budget and cost of living in Borgarnes
Reykjavik 2% moreTravel budget and cost of living in Reykjavik
Dalvik 1% moreTravel budget and cost of living in Dalvik
Akureyri 2% lessTravel budget and cost of living in Akureyri
Selfoss 3% lessTravel budget and cost of living in Selfoss
Kopavogur 5% lessTravel budget and cost of living in Kopavogur

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 54% more expensive than in the United States (USA).
Lunch
Lunch
$ 23/person
($ 15 to $ 28)

35% more than in the United States (USA)United States Average price in the United States (USA): $ 17
3 course dinner
3 course dinner
$ 58/person
($ 40 to $ 84)

107% more than in the United States (USA)United States Average price in the United States (USA): $ 28
McDonald's meal
McDonald's meal
$ 14/person
($ 13 to $ 18)

71% more than in the United States (USA)United States Average price in the United States (USA): $ 8.1
Local beer
Local beer
$ 10.5 for 500ml
($ 8.7 to $ 11)

117% more than in the United States (USA)United States Average price in the United States (USA): $ 4.8
Imported beer
Imported beer
$ 3 for 330ml
($ 2.6 to $ 3.8)

1% less than in the United States (USA)United States Average price in the United States (USA): $ 3
Cappuccino
Cappuccino
$ 4.9/cup
($ 3.9 to $ 5.6)

11% more than in the United States (USA)United States Average price in the United States (USA): $ 4.4
Fizzy drink
Fizzy drink
$ 2.9/can
($ 1.4 to $ 4.4)

47% more than in the United States (USA)United States Average price in the United States (USA): $ 1.9
Water bottle
Water bottle
$ 2.3/bottle
($ 1.3 to $ 3.1)

43% 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 25% more expensive than in the United States (USA).
1-star hotel
1-star hotel
$ 125/night
($ 95 to $ 171)

16% more than in the United States (USA)United States Average price in the United States (USA): $ 108
2-star hotel
2-star hotel
$ 151/night
($ 119 to $ 198)

22% more than in the United States (USA)United States Average price in the United States (USA): $ 125
3-star hotel
3-star hotel
$ 206/night
($ 136 to $ 318)

15% more than in the United States (USA)United States Average price in the United States (USA): $ 180
4-star hotel
4-star hotel
$ 290/night
($ 213 to $ 392)

12% more than in the United States (USA)United States Average price in the United States (USA): $ 261
5-star hotel
5-star hotel
$ 940/night
($ 876 to $ 1001)

87% more than in the United States (USA)United States Average price in the United States (USA): $ 504
Hotel/Youth Hostel
Hotel/Youth Hostel
$ 125/month
($ 97 to $ 153)

6% less than in the United States (USA)United States Average price in the United States (USA): $ 133
Room with kitchen
Room with kitchen
$ 251/month
($ 186 to $ 339)

49% 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
$ 211/month
($ 193 to $ 236)

27% more than in the United States (USA)United States Average price in the United States (USA): $ 167
Cottage or guest house
Cottage or guest house
$ 146/month
($ 103 to $ 256)

34% less than in the United States (USA)United States Average price in the United States (USA): $ 223
Family room
Family room
$ 275/month
($ 201 to $ 397)

57% more than in the United States (USA)United States Average price in the United States (USA): $ 176

Iceland: Supermarket food budget

On average, the price of supermarket food in Iceland is 29% more expensive than in the United States (USA).
Milk
Milk
$ 1.4/litre
($ 1.3 to $ 1.7)

61% more than in the United States (USA)United States Average price in the United States (USA): $ 0.9
Bread
Bread
$ 3.1/500g
($ 2.4 to $ 3.9)

11% more than in the United States (USA)United States Average price in the United States (USA): $ 2.8
Rice
Rice
$ 3.1/kg
($ 2.2 to $ 5)

25% less than in the United States (USA)United States Average price in the United States (USA): $ 4.2
Eggs
Eggs
$ 5.6/12 eggs
($ 4.4 to $ 6.9)

128% more than in the United States (USA)United States Average price in the United States (USA): $ 2.4
Cheese
Cheese
$ 15/kg
($ 12 to $ 20)

29% more than in the United States (USA)United States Average price in the United States (USA): $ 12
Chicken
Chicken
$ 18/kg
($ 15 to $ 22)

92% more than in the United States (USA)United States Average price in the United States (USA): $ 9.2
Apples
Apples
$ 2.6/kg
($ 2 to $ 3.5)

44% less than in the United States (USA)United States Average price in the United States (USA): $ 4.8
Oranges
Oranges
$ 2.6/kg
($ 2.2 to $ 3.6)

38% less than in the United States (USA)United States Average price in the United States (USA): $ 4.3
Tomatoes
Tomatoes
$ 4.4/kg
($ 3.1 to $ 6.7)

2% more than in the United States (USA)United States Average price in the United States (USA): $ 4.3
Potatoes
Potatoes
$ 2.4/kg
($ 1.8 to $ 3.5)

12% less than in the United States (USA)United States Average price in the United States (USA): $ 2.8
Salad
Salad
$ 2.6/salad
($ 1.7 to $ 3.5)

55% more than in the United States (USA)United States Average price in the United States (USA): $ 1.7
Water bottle
Water bottle
$ 1.9
($ 1.1 to $ 2.6)

2% more than in the United States (USA)United States Average price in the United States (USA): $ 1.9
Joint of beef
Joint of beef
$ 28/kg
($ 18 to $ 44)

118% 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 71% more expensive than in the United States (USA).
Bus ticket
Bus ticket
$ 4.1/ticket
($ 3.9 to $ 4.1)

70% more than in the United States (USA)United States Average price in the United States (USA): $ 2.4
Bus pass
Bus pass
$ 113/month
($ 97 to $ 113)

49% more than in the United States (USA)United States Average price in the United States (USA): $ 76
Taxi (per km)
Taxi (per km)
$ 2.6/km
($ 2.2 to $ 3.5)

44% more than in the United States (USA)United States Average price in the United States (USA): $ 1.8
Petrol
Petrol
$ 1.9/litre
($ 1.8 to $ 2.2)

151% more than in the United States (USA)United States Average price in the United States (USA): $ 0.8
Taxi (initial pick-up charge)
Taxi (initial pick-up charge)
$ 6
($ 6 to $ 6.9)

61% more than in the United States (USA)United States Average price in the United States (USA): $ 3.8
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 is essentially the same as in the United States (USA).
Electricity, water...
Electricity, water...
$ 109/month
($ 63 to $ 174)

33% less than in the United States (USA)United States Average price in the United States (USA): $ 164
Mobile phone
Mobile phone
$ 0.2/min.
($ 0.1 to $ 0.4)

46% more than in the United States (USA)United States Average price in the United States (USA): $ 0.1
Broadband internet
Broadband internet
$ 72/month
($ 53 to $ 103)

6% more than in the United States (USA)United States Average price in the United States (USA): $ 69
Studio flat (city centre)
Studio flat (city centre)
$ 1605/month
($ 1091 to $ 2181)

15% more than in the United States (USA)United States Average price in the United States (USA): $ 1396
Studio flat (suburbs)
Studio flat (suburbs)
$ 1316/month
($ 873 to $ 1745)

19% more than in the United States (USA)United States Average price in the United States (USA): $ 1113
Flat (centre)
Flat (centre)
$ 2530/month
($ 1919 to $ 3490)

13% more than in the United States (USA)United States Average price in the United States (USA): $ 2249
Flat (suburbs)
Flat (suburbs)
$ 2147/month
($ 1658 to $ 2617)

22% more than in the United States (USA)United States Average price in the United States (USA): $ 1767
Gym
Gym
$ 67/month
($ 53 to $ 101)

69% more than in the United States (USA)United States Average price in the United States (USA): $ 40
Private nursery
Private nursery
$ 302/month
($ 222 to $ 394)

69% less than in the United States (USA)United States Average price in the United States (USA): $ 974
Private primary school
Private primary school
$ 6979/yr
($ 2199 to $ 10468)

59% less than in the United States (USA)United States Average price in the United States (USA): $ 17212

Iceland: Leisure activity budget

On average, budget for leisure activities in Iceland is 70% more expensive than in the United States (USA).
Cinema
Cinema
$ 14/ticket
($ 13 to $ 16)

8% more than in the United States (USA)United States Average price in the United States (USA): $ 13
Tennis
Tennis
$ 39/hr
($ 27 to $ 79)

132% 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 96% more expensive than in the United States (USA).
Cigarettes
Cigarettes
$ 13/pack
($ 12 to $ 14)

52% more than in the United States (USA)United States Average price in the United States (USA): $ 8.1
Levi's jeans
Levi's jeans
$ 131
($ 88 to $ 167)

179% more than in the United States (USA)United States Average price in the United States (USA): $ 47
Summer dress
Summer dress
$ 60
($ 36 to $ 106)

55% more than in the United States (USA)United States Average price in the United States (USA): $ 39
Trainers
Trainers
$ 157
($ 106 to $ 219)

95% more than in the United States (USA)United States Average price in the United States (USA): $ 81
Leather shoes
Leather shoes
$ 201
($ 132 to $ 298)

98% more than in the United States (USA)United States Average price in the United States (USA): $ 102

Plane ticket budget

Los Angeles → Reykjavik
Los Angeles  → Reykjavik
Los Angeles  → Reykjavik
$ 886
(fair price: $ 780)
New York City → Reykjavik
New York City → Reykjavik
New York City → Reykjavik
$ 523
(fair price: $ 451)
Toronto (Ontario) → Reykjavik
Toronto (Ontario) → Reykjavik
Toronto (Ontario) → Reykjavik
$ 598
(fair price: $ 514)
Manchester → Reykjavik
Manchester → Reykjavik
Manchester → Reykjavik
$ 267
(fair price: $ 225)
Dublin → Reykjavik
Dublin → Reykjavik
Dublin → Reykjavik
$ 239
(fair price: $ 201)
Edinburgh → Reykjavik
Edinburgh → Reykjavik
Edinburgh → Reykjavik
$ 316
(fair price: $ 263)
Montreal → Reykjavik
Montreal → Reykjavik
Montreal → Reykjavik
$ 793
(fair price: $ 674)
London → Reykjavik
London → Reykjavik
London → Reykjavik
$ 216
(fair price: $ 176)
Sydney → Reykjavik
Sydney → Reykjavik
Sydney → Reykjavik
$ 1927
(fair price: $ 1573)

Tours and organised trips in Iceland


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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 12-01-2020.

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