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:
- $ 109 for 2 ppl.
- $ 23 per person
- $ 16 per person
- Free activities
Total budget:
$ 2569* (324422 ISK)
Average budget
(traveller)
Daily budget:
- $ 168 for 2 ppl.
- $ 57 per person
- $ 27 per person
- $ 13 per person
Total budget:
$ 5004* (631890 ISK)
High budget
(tourist)
Daily budget:
- $ 244 for 2 ppl.
- $ 99 per person
- $ 47 per person
- $ 26 per person
Total budget:
$ 8159* (1030330 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 2021
Cost of living: Iceland VS United States
On average, the cost of living in Iceland in 2021 is 57% 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:
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 | 15% more | Travel budget and cost of living in Borgarnes |
| Reykjavik | 4% more | Travel budget and cost of living in Reykjavik |
| Akureyri | 1% more | Travel budget and cost of living in Akureyri |
| Selfoss | 9% less | Travel budget and cost of living in Selfoss |
| Akranes | 10% less | Travel budget and cost of living in Akranes |
| Kopavogur | 14% less | Travel budget and cost of living in Kopavogur |
Local prices in Iceland by expense type
Iceland: Restaurant budget
On average, budget for eating in a restaurant in Iceland is 48% more expensive than in the United States (USA).
Lunch
$ 21/person
($ 12 to $ 36)
($ 12 to $ 36)
35% more than in the United States (USA)
Average price in the United States (USA): $ 153 course dinner
$ 53/person
($ 41 to $ 81)
($ 41 to $ 81)
73% more than in the United States (USA)
Average price in the United States (USA): $ 30McDonald's meal
$ 15/person
($ 12 to $ 16)
($ 12 to $ 16)
82% more than in the United States (USA)
Average price in the United States (USA): $ 7.9Local beer
$ 9.6 for 500ml
($ 4.9 to $ 12)
($ 4.9 to $ 12)
93% more than in the United States (USA)
Average price in the United States (USA): $ 4.9Imported beer
$ 3 for 330ml
($ 2.4 to $ 3.9)
($ 2.4 to $ 3.9)
9% more than in the United States (USA)
Average price in the United States (USA): $ 2.8Cappuccino
$ 4.5/cup
($ 3.1 to $ 7.2)
($ 3.1 to $ 7.2)
8% more than in the United States (USA)
Average price in the United States (USA): $ 4.2Fizzy drink
$ 2.7/can
($ 1.8 to $ 4.8)
($ 1.8 to $ 4.8)
46% more than in the United States (USA)
Average price in the United States (USA): $ 1.9Water bottle
$ 2.2/bottle
($ 1.6 to $ 2.7)
($ 1.6 to $ 2.7)
40% more than in the United States (USA)
Average price in the United States (USA): $ 1.5Iceland: 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
$ 122/night
($ 95 to $ 165)
($ 95 to $ 165)
13% more than in the United States (USA)
Average price in the United States (USA): $ 1092-star hotel
$ 144/night
($ 115 to $ 180)
($ 115 to $ 180)
15% more than in the United States (USA)
Average price in the United States (USA): $ 1263-star hotel
$ 192/night
($ 134 to $ 263)
($ 134 to $ 263)
7% more than in the United States (USA)
Average price in the United States (USA): $ 1804-star hotel
$ 296/night
($ 218 to $ 400)
($ 218 to $ 400)
13% more than in the United States (USA)
Average price in the United States (USA): $ 2625-star hotel
$ 984/night
($ 912 to $ 1056)
($ 912 to $ 1056)
94% more than in the United States (USA)
Average price in the United States (USA): $ 510Hotel/Youth Hostel
$ 125/month
($ 97 to $ 152)
($ 97 to $ 152)
2% more than in the United States (USA)
Average price in the United States (USA): $ 122Room with kitchen
$ 257/month
($ 192 to $ 345)
($ 192 to $ 345)
53% more than in the United States (USA)
Average price in the United States (USA): $ 169Hotel with swimming pool
$ 210/month
($ 192 to $ 234)
($ 192 to $ 234)
27% more than in the United States (USA)
Average price in the United States (USA): $ 165Cottage or guest house
$ 161/month
($ 127 to $ 207)
($ 127 to $ 207)
27% less than in the United States (USA)
Average price in the United States (USA): $ 223Family room
$ 273/month
($ 204 to $ 370)
($ 204 to $ 370)
57% more than in the United States (USA)
Average price in the United States (USA): $ 175Iceland: Supermarket food budget
On average, the price of supermarket food in Iceland is 28% more expensive than in the United States (USA).
Milk
$ 1.4/litre
($ 1.2 to $ 1.9)
($ 1.2 to $ 1.9)
65% more than in the United States (USA)
Average price in the United States (USA): $ 0.8Bread
$ 3.3/500g
($ 2.2 to $ 6.9)
($ 2.2 to $ 6.9)
27% more than in the United States (USA)
Average price in the United States (USA): $ 2.7Rice
$ 2.9/kg
($ 1.6 to $ 4.5)
($ 1.6 to $ 4.5)
26% less than in the United States (USA)
Average price in the United States (USA): $ 3.9Eggs
$ 5.5/12 eggs
($ 3.8 to $ 6.6)
($ 3.8 to $ 6.6)
140% more than in the United States (USA)
Average price in the United States (USA): $ 2.3Chicken
$ 16/kg
($ 10.3 to $ 21)
($ 10.3 to $ 21)
78% more than in the United States (USA)
Average price in the United States (USA): $ 9Apples
$ 2.5/kg
($ 1.6 to $ 3.9)
($ 1.6 to $ 3.9)
44% less than in the United States (USA)
Average price in the United States (USA): $ 4.5Tomatoes
$ 4.5/kg
($ 2.7 to $ 6.3)
($ 2.7 to $ 6.3)
10% more than in the United States (USA)
Average price in the United States (USA): $ 4.2Potatoes
$ 2.5/kg
($ 1.4 to $ 3.1)
($ 1.4 to $ 3.1)
0% less than in the United States (USA)
Average price in the United States (USA): $ 2.5Water bottle
$ 1.9
($ 1.1 to $ 2.9)
($ 1.1 to $ 2.9)
5% more than in the United States (USA)
Average price in the United States (USA): $ 1.8Iceland: Public and private transport budget
On average, the price of transport in Iceland is 81% more expensive than in the United States (USA).
Bus ticket
$ 3.8/ticket
($ 3.6 to $ 3.9)
($ 3.6 to $ 3.9)
72% more than in the United States (USA)
Average price in the United States (USA): $ 2.2Taxi (per km)
$ 2.4/km
($ 1.9 to $ 2.7)
($ 1.9 to $ 2.7)
48% more than in the United States (USA)
Average price in the United States (USA): $ 1.6Petrol
$ 1.8/litre
($ 1.6 to $ 1.9)
($ 1.6 to $ 1.9)
167% more than in the United States (USA)
Average price in the United States (USA): $ 0.7Taxi (initial pick-up charge)
$ 5.5
($ 5.5 to $ 8.7)
($ 5.5 to $ 8.7)
73% more than in the United States (USA)
Average price in the United States (USA): $ 3.2Car hire
$ 58/24hrs
($ 6 to $ 145)
($ 6 to $ 145)
46% more than in the United States (USA)
Average price in the United States (USA): $ 40Iceland: Leisure activity budget
On average, budget for leisure activities in Iceland is 65% more expensive than in the United States (USA).
Cinema
$ 13/ticket
($ 12 to $ 16)
($ 12 to $ 16)
8% more than in the United States (USA)
Average price in the United States (USA): $ 12Tennis
$ 35/hr
($ 24 to $ 48)
($ 24 to $ 48)
121% more than in the United States (USA)
Average price in the United States (USA): $ 16Iceland: Budget for clothes and price of cigarettes
On average, shopping budget in Iceland is 92% more expensive than in the United States (USA).
Cigarettes
$ 12/pack
($ 11 to $ 15)
($ 11 to $ 15)
46% more than in the United States (USA)
Average price in the United States (USA): $ 7.9Levi's jeans
$ 121
($ 81 to $ 159)
($ 81 to $ 159)
171% more than in the United States (USA)
Average price in the United States (USA): $ 45Summer dress
$ 58
($ 29 to $ 96)
($ 29 to $ 96)
60% more than in the United States (USA)
Average price in the United States (USA): $ 36Plane ticket budget
London → Reykjavik
$ 170
(fair price: $ 136)
(fair price: $ 136)
New York City → Reykjavik
$ 526
(fair price: $ 428)
(fair price: $ 428)
Manchester → Reykjavik
$ 277
(fair price: $ 212)
(fair price: $ 212)
Los Angeles → Reykjavik
$ 868
(fair price: $ 756)
(fair price: $ 756)
Dublin → Reykjavik
$ 241
(fair price: $ 201)
(fair price: $ 201)
Toronto (Ontario) → Reykjavik
$ 607
(fair price: $ 499)
(fair price: $ 499)
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 12-05-2021.