Travel budget and cost of living in Reykjavik (Iceland) how much does a trip cost?

Reykjavik travel budget

Reykjavik: calculate your travel budget

Sample budgets for a trip to Reykjavik

These example budgets assume a 2-week holiday in Reykjavik for 2 people.

* estimated local budget for 2 people for 2 weeks (excluding plane tickets).

Cost of living in Reykjavik compared to United States in 2023

On average, the cost of living in Reykjavik in 2023 is 34% higher than the average cost of living in the United States (USA).

See the graphic below for the price variation percentage by type of expense in Reykjavik in 2023 compared to average prices in the United States (USA):

Local prices in Reykjavik by expense type

Restaurant budget in Reykjavik

Lunch

$ 23/person
($ 16 to $ 34)

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1% more than in the United States (USA) Average price in the United States (USA): $ 23

3 course dinner

$ 60/person
($ 45 to $ 107)

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43% more than in the United States (USA) Average price in the United States (USA): $ 42

McDonald's meal

$ 18/person
($ 15 to $ 21)

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55% more than in the United States (USA) Average price in the United States (USA): $ 12

Local beer

$ 10.3 for 500ml
($ 9.1 to $ 14)

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56% more than in the United States (USA) Average price in the United States (USA): $ 6.6

Imported beer

$ 2.9 for 330ml
($ 2.4 to $ 3.6)

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24% less than in the United States (USA) Average price in the United States (USA): $ 3.7

Cappuccino

$ 5/cup
($ 3.6 to $ 6.6)

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4% less than in the United States (USA) Average price in the United States (USA): $ 5.2

Fizzy drink

$ 2.9/can
($ 2.2 to $ 3.9)

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11% more than in the United States (USA) Average price in the United States (USA): $ 2.6

Water bottle

$ 2.3/bottle
($ 1.6 to $ 3.7)

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9% more than in the United States (USA) Average price in the United States (USA): $ 2

Hotel and accommodation budget in Reykjavik

1-star hotel

$ 89/night
($ 59 to $ 131)

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29% less than in the United States (USA) Average price in the United States (USA): $ 126

2-star hotel

$ 108/night
($ 77 to $ 153)

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26% less than in the United States (USA) Average price in the United States (USA): $ 147

3-star hotel

$ 177/night
($ 106 to $ 281)

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15% less than in the United States (USA) Average price in the United States (USA): $ 211

4-star hotel

$ 326/night
($ 216 to $ 490)

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4% more than in the United States (USA) Average price in the United States (USA): $ 316

5-star hotel

$ 1287/night
($ 1014 to $ 1560)

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89% more than in the United States (USA) Average price in the United States (USA): $ 684

Hostel/Youth Hostel

$ 120/month
($ 75 to $ 163)

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8% less than in the United States (USA) Average price in the United States (USA): $ 131

Room with kitchen

$ 279/month
($ 181 to $ 413)

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34% more than in the United States (USA) Average price in the United States (USA): $ 208

Hotel with swimming pool

$ 169/month
($ 120 to $ 238)

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12% less than in the United States (USA) Average price in the United States (USA): $ 193

Cottage or guest house

$ 116/month
($ 83 to $ 162)

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54% less than in the United States (USA) Average price in the United States (USA): $ 257

Family room

$ 272/month
($ 171 to $ 437)

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37% more than in the United States (USA) Average price in the United States (USA): $ 199

Supermarket food budget in Reykjavik

Milk

$ 1.7/litre
($ 1.4 to $ 2.2)

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51% more than in the United States (USA) Average price in the United States (USA): $ 1.1

Bread

$ 3.7/500g
($ 2.3 to $ 6.3)

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4% less than in the United States (USA) Average price in the United States (USA): $ 3.9

Rice

$ 3.3/kg
($ 2 to $ 6)

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26% less than in the United States (USA) Average price in the United States (USA): $ 4.6

Eggs

$ 6.3/12 eggs
($ 4.8 to $ 9.1)

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27% more than in the United States (USA) Average price in the United States (USA): $ 5.1

Chicken

$ 21/kg
($ 10.3 to $ 26)

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51% more than in the United States (USA) Average price in the United States (USA): $ 14

Apples

$ 3.7/kg
($ 2 to $ 6)

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32% less than in the United States (USA) Average price in the United States (USA): $ 5.4

Tomatoes

$ 5.4/kg
($ 2.4 to $ 7.9)

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6% more than in the United States (USA) Average price in the United States (USA): $ 5.1

Potatoes

$ 3/kg
($ 1.6 to $ 4.2)

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1% less than in the United States (USA) Average price in the United States (USA): $ 3

Water bottle

$ 2.3
($ 0.8 to $ 4.2)

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2% less than in the United States (USA) Average price in the United States (USA): $ 2.3

Public and private transport budget in Reykjavik

Bus ticket

$ 4.4/ticket
($ 3.9 to $ 4.9)

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59% more than in the United States (USA) Average price in the United States (USA): $ 2.8

Taxi (per km)

$ 3.2/km
($ 2.3 to $ 4.8)

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73% more than in the United States (USA) Average price in the United States (USA): $ 1.9

Petrol

$ 2.6/litre
($ 2.2 to $ 2.7)

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132% more than in the United States (USA) Average price in the United States (USA): $ 1.1

Taxi (initial pick-up charge)

$ 5.9
($ 5.9 to $ 6.8)

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50% more than in the United States (USA) Average price in the United States (USA): $ 3.9

Car hire

$ 30/24hrs
($ 7.2 to $ 337)

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19% less than in the United States (USA) Average price in the United States (USA): $ 38

Leisure activity budget in Reykjavik

Cinema

$ 16/ticket
($ 14 to $ 23)

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14% more than in the United States (USA) Average price in the United States (USA): $ 14

Tennis

$ 47/hr
($ 22 to $ 61)

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123% more than in the United States (USA) Average price in the United States (USA): $ 21

Budget for clothes and price of cigarettes in Reykjavik

Cigarettes

$ 14/pack
($ 12 to $ 16)

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32% more than in the United States (USA) Average price in the United States (USA): $ 9.9

Levi's jeans

$ 120
($ 65 to $ 200)

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107% more than in the United States (USA) Average price in the United States (USA): $ 58

Summer dress

$ 48
($ 30 to $ 89)

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4% more than in the United States (USA) Average price in the United States (USA): $ 46

Plane ticket budget

London → Reykjavik

$ 130
(fair price: $ 115)

New York City → Reykjavik

$ 507
(fair price: $ 406)

Dublin → Reykjavik

$ 214
(fair price: $ 192)

Manchester → Reykjavik

$ 230
(fair price: $ 195)

Edinburgh → Reykjavik

$ 232
(fair price: $ 196)

Toronto (Ontario) → Reykjavik

$ 679
(fair price: $ 573)