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:

  • $ 135 for 2 ppl.
  • $ 27 per person
  • $ 17 per person
  • Free activities

Total budget:

$ 3084* (428484 ISK)

Average budget
(traveller)

Daily budget:

  • $ 204 for 2 ppl.
  • $ 64 per person
  • $ 26 per person
  • $ 15 per person

Total budget:

$ 5740* (797510 ISK)

High budget
(tourist)

Daily budget:

  • $ 259 for 2 ppl.
  • $ 109 per person
  • $ 43 per person
  • $ 29 per person

Total budget:

$ 8663* (1203566 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 2024

Cost of living: Iceland VS United States

Compare with the average cost of living in:

On average, the cost of living in Iceland in 2024 is 29% 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 8% moreTravel budget and cost of living in Selfoss
Akureyri 2% moreTravel budget and cost of living in Akureyri
Reykjavík 1% moreTravel budget and cost of living in Reykjavík
Kopavogur 1% moreTravel budget and cost of living in Kopavogur
Borgarnes 3% lessTravel budget and cost of living in Borgarnes
Akranes 4% lessTravel budget and cost of living in Akranes



Local prices in Iceland by expense type

Iceland: Restaurant budget

On average, budget for eating in a restaurant in Iceland is 22% more expensive than in the United States (USA).
Lunch
Lunch
$ 23/person
($ 15 to $ 37)

8% more than in the United States (USA)United States Average price in the United States (USA): $ 21
3 course dinner
3 course dinner
$ 60/person
($ 37 to $ 101)

57% more than in the United States (USA)United States Average price in the United States (USA): $ 38
McDonald's meal
McDonald's meal
$ 18/person
($ 15 to $ 19)

51% more than in the United States (USA)United States Average price in the United States (USA): $ 12
Local beer
Local beer
$ 11 for 500ml
($ 6.4 to $ 13)

68% 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
($ 1.8 to $ 3.6)

25% less than in the United States (USA)United States Average price in the United States (USA): $ 3.5
Cappuccino
Cappuccino
$ 4.9/cup
($ 3 to $ 7.2)

3% less than in the United States (USA)United States Average price in the United States (USA): $ 5.1
Fizzy drink
Fizzy drink
$ 2.9/can
($ 2 to $ 3.8)

16% more than in the United States (USA)United States Average price in the United States (USA): $ 2.5
Water bottle
Water bottle
$ 2.1/bottle
($ 1.4 to $ 3.4)

4% more than in the United States (USA)United States Average price in the United States (USA): $ 2

Iceland: Hotel and accommodation budget

On average, hotel and accommodation budget in Iceland is 12% more expensive than in the United States (USA).
1-star hotel
1-star hotel
$ 253/night
($ 169 to $ 535)

49% more than in the United States (USA)United States Average price in the United States (USA): $ 170
2-star hotel
2-star hotel
$ 173/night
($ 97 to $ 387)

11% more than in the United States (USA)United States Average price in the United States (USA): $ 157
3-star hotel
3-star hotel
$ 234/night
($ 104 to $ 579)

3% more than in the United States (USA)United States Average price in the United States (USA): $ 229
4-star hotel
4-star hotel
$ 284/night
($ 154 to $ 657)

7% less than in the United States (USA)United States Average price in the United States (USA): $ 307
5-star hotel
5-star hotel
$ 372/night
($ 289 to $ 643)

22% less than in the United States (USA)United States Average price in the United States (USA): $ 481
Hostel/Youth Hostel
Hostel/Youth Hostel
$ 194/month
($ 110 to $ 456)

19% more than in the United States (USA)United States Average price in the United States (USA): $ 164
Room with kitchen
Room with kitchen
$ 252/month
($ 102 to $ 676)

4% more than in the United States (USA)United States Average price in the United States (USA): $ 242
Hotel with swimming pool
Hotel with swimming pool
$ 233/month
($ 125 to $ 520)

11% more than in the United States (USA)United States Average price in the United States (USA): $ 212
Cottage or guest house
Cottage or guest house
$ 213/month
($ 119 to $ 506)

4% less than in the United States (USA)United States Average price in the United States (USA): $ 224
Family room
Family room
$ 335/month
($ 148 to $ 874)

57% more than in the United States (USA)United States Average price in the United States (USA): $ 215

Iceland: Supermarket food budget

On average, the price of supermarket food in Iceland is 9% more expensive than in the United States (USA).
Milk
Milk
$ 1.6/litre
($ 1.2 to $ 2.1)

55% more than in the United States (USA)United States Average price in the United States (USA): $ 1.1
Bread
Bread
$ 3.4/500g
($ 2.1 to $ 5.8)

3% less than in the United States (USA)United States Average price in the United States (USA): $ 3.6
Rice
Rice
$ 2.9/kg
($ 2 to $ 4.6)

35% less than in the United States (USA)United States Average price in the United States (USA): $ 4.5
Eggs
Eggs
$ 5.7/12 eggs
($ 4.3 to $ 6.9)

55% more than in the United States (USA)United States Average price in the United States (USA): $ 3.7
Chicken
Chicken
$ 20/kg
($ 12 to $ 27)

55% more than in the United States (USA)United States Average price in the United States (USA): $ 13
Apples
Apples
$ 2.8/kg
($ 1.8 to $ 5.4)

46% less than in the United States (USA)United States Average price in the United States (USA): $ 5.3
Tomatoes
Tomatoes
$ 4.5/kg
($ 2.3 to $ 6.4)

7% less than in the United States (USA)United States Average price in the United States (USA): $ 4.9
Potatoes
Potatoes
$ 3.1/kg
($ 1.6 to $ 4)

3% more than in the United States (USA)United States Average price in the United States (USA): $ 3
Water bottle
Water bottle
$ 2.3
($ 0.9 to $ 3.6)

1% more 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 62% more expensive than in the United States (USA).
Bus ticket
Bus ticket
$ 4.1/ticket
($ 3.5 to $ 4.5)

64% more than in the United States (USA)United States Average price in the United States (USA): $ 2.5
Taxi (per km)
Taxi (per km)
$ 2.1/km
($ 1.8 to $ 3.1)

27% more than in the United States (USA)United States Average price in the United States (USA): $ 1.7
Petrol
Petrol
$ 2.3/litre
($ 1.9 to $ 2.4)

133% 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)
$ 5.3
($ 5 to $ 6.4)

50% more than in the United States (USA)United States Average price in the United States (USA): $ 3.5
Car hire
Car hire
$ 70/24hrs
($ 36 to $ 135)

33% more than in the United States (USA)United States Average price in the United States (USA): $ 53

Iceland: Leisure activity budget

On average, budget for leisure activities in Iceland is 20% more expensive than in the United States (USA).
Cinema
Cinema
$ 15/ticket
($ 12 to $ 19)

3% more than in the United States (USA)United States Average price in the United States (USA): $ 15
Tennis
Tennis
$ 32/hr
($ 20 to $ 45)

36% more than in the United States (USA)United States Average price in the United States (USA): $ 23

Iceland: Budget for clothes and price of cigarettes

On average, shopping budget in Iceland is 51% more expensive than in the United States (USA).
Cigarettes
Cigarettes
$ 12/pack
($ 11 to $ 15)

15% more than in the United States (USA)United States Average price in the United States (USA): $ 11
Levi's jeans
Levi's jeans
$ 115
($ 60 to $ 159)

118% more than in the United States (USA)United States Average price in the United States (USA): $ 53
Summer dress
Summer dress
$ 52
($ 28 to $ 144)

20% more than in the United States (USA)United States Average price in the United States (USA): $ 43

Plane ticket budget

New York City → Reykjavík
New York City → Reykjavík
New York City → Reykjavík
$ 436
(fair price: $ 346)
Toronto → Reykjavík
Toronto → Reykjavík
Toronto → Reykjavík
$ 506
(fair price: $ 399)
London → Reykjavík
London → Reykjavík
London → Reykjavík
$ 139
(fair price: $ 112)
Chicago → Reykjavík
Chicago → Reykjavík
Chicago → Reykjavík
$ 709
(fair price: $ 618)
Manchester → Reykjavík
Manchester → Reykjavík
Manchester → Reykjavík
$ 215
(fair price: $ 175)
Montreal → Reykjavík
Montreal → Reykjavík
Montreal → Reykjavík
$ 805
(fair price: $ 715)

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 20-06-2024.

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