Travel budget and cost of living in Iceland how much does a trip cost?
Are you planning to go to Iceland and need to budget for your trip? On this page you can see sample prices. This enables you to get to grips with actual prices and the cost of living in Iceland. Then, why not use our free tool to calculate your Iceland travel budget.
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
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:
Explore each type of expense in detail:
Local prices in Iceland by expense type
Iceland: Restaurant budget

($ 16 to $ 40)
3% more than in the United States (USA)


($ 40 to $ 112)
57% more than in the United States (USA)


($ 16 to $ 23)
58% more than in the United States (USA)


($ 7.6 to $ 15)
75% more than in the United States (USA)


($ 2.1 to $ 3.8)
24% less than in the United States (USA)


($ 3.3 to $ 7.6)
2% less than in the United States (USA)


($ 2.3 to $ 4.3)
20% more than in the United States (USA)


($ 1.8 to $ 3.8)
7% more than in the United States (USA)

Iceland: Hotel and accommodation budget

($ 123 to $ 408)
6% more than in the United States (USA)


($ 112 to $ 463)
22% more than in the United States (USA)


($ 124 to $ 650)
7% more than in the United States (USA)


($ 174 to $ 887)
8% less than in the United States (USA)


($ 369 to $ 775)
16% less than in the United States (USA)


($ 131 to $ 449)
16% more than in the United States (USA)


($ 113 to $ 825)
8% more than in the United States (USA)


($ 146 to $ 510)
12% more than in the United States (USA)


($ 151 to $ 476)
8% less than in the United States (USA)


($ 170 to $ 989)
71% more than in the United States (USA)

Iceland: Supermarket food budget

($ 1.4 to $ 2.3)
59% more than in the United States (USA)


($ 2.2 to $ 7.9)
4% less than in the United States (USA)


($ 2.2 to $ 5.2)
32% less than in the United States (USA)


($ 4.7 to $ 8.6)
54% more than in the United States (USA)


($ 13 to $ 30)
67% more than in the United States (USA)


($ 2.1 to $ 5.9)
43% less than in the United States (USA)


($ 2.5 to $ 7.2)
5% less than in the United States (USA)


($ 1.8 to $ 4.7)
8% more than in the United States (USA)


($ 0.9 to $ 4)
4% less than in the United States (USA)

Iceland: Public and private transport budget

($ 4.3 to $ 5.2)
82% more than in the United States (USA)


($ 2.2 to $ 3.8)
36% more than in the United States (USA)


($ 2.1 to $ 2.6)
135% more than in the United States (USA)


($ 5.8 to $ 7.9)
47% more than in the United States (USA)


($ 43 to $ 133)
11% less than in the United States (USA)

Iceland: Leisure activity budget

($ 14 to $ 20)
6% more than in the United States (USA)


($ 22 to $ 60)
56% more than in the United States (USA)

Iceland: Budget for clothes and price of cigarettes

($ 12 to $ 15)
22% more than in the United States (USA)


($ 66 to $ 159)
120% more than in the United States (USA)


($ 31 to $ 127)
22% more than in the United States (USA)

Plane ticket budget

(fair price: $ 158)

(fair price: $ 218)

(fair price: $ 375)

(fair price: $ 771)

(fair price: $ 433)

(fair price: $ 219)
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.