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 Iceland in 2020

On average, the cost of living in Reykjavik in 2020 is 53% 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 2020 compared to average prices in the United States (USA):

Local prices in Reykjavik by expense type

Restaurant budget in Reykjavik

Lunch

$ 22/person
($ 14 to $ 30)

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39% more than in the United States (USA) Average price in the United States (USA): $ 16

3 course dinner

$ 64/person
($ 44 to $ 94)

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120% more than in the United States (USA) Average price in the United States (USA): $ 29

McDonald's meal

$ 14/person
($ 13 to $ 22)

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73% more than in the United States (USA) Average price in the United States (USA): $ 8.1

Local beer

$ 10 for 500ml
($ 8.4 to $ 13)

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100% more than in the United States (USA) Average price in the United States (USA): $ 5.1

Imported beer

$ 2.9 for 330ml
($ 1.7 to $ 3.8)

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4% less than in the United States (USA) Average price in the United States (USA): $ 3

Cappuccino

$ 4.9/cup
($ 3.8 to $ 5.5)

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13% more than in the United States (USA) Average price in the United States (USA): $ 4.3

Fizzy drink

$ 3.1/can
($ 2.2 to $ 5)

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61% more than in the United States (USA) Average price in the United States (USA): $ 1.9

Water bottle

$ 2.3/bottle
($ 1.7 to $ 3.3)

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49% more than in the United States (USA) Average price in the United States (USA): $ 1.6

Hotel and accommodation budget in Reykjavik

1-star hotel

$ 128/night
($ 69 to $ 218)

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18% more than in the United States (USA) Average price in the United States (USA): $ 109

2-star hotel

$ 128/night
($ 95 to $ 168)

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2% more than in the United States (USA) Average price in the United States (USA): $ 126

3-star hotel

$ 194/night
($ 131 to $ 267)

---

8% more than in the United States (USA) Average price in the United States (USA): $ 180

4-star hotel

$ 298/night
($ 213 to $ 410)

---

14% more than in the United States (USA) Average price in the United States (USA): $ 262

5-star hotel

$ 1094/night
($ 946 to $ 1242)

---

115% more than in the United States (USA) Average price in the United States (USA): $ 510

Hotel/Youth Hostel

$ 137/month
($ 71 to $ 195)

---

1% more than in the United States (USA) Average price in the United States (USA): $ 136

Room with kitchen

$ 261/month
($ 176 to $ 363)

---

55% more than in the United States (USA) Average price in the United States (USA): $ 169

Hotel with swimming pool

$ 198/month
($ 165 to $ 241)

---

20% more than in the United States (USA) Average price in the United States (USA): $ 165

Cottage or guest house

$ 139/month
($ 97 to $ 188)

---

37% less than in the United States (USA) Average price in the United States (USA): $ 223

Family room

$ 279/month
($ 185 to $ 412)

---

60% more than in the United States (USA) Average price in the United States (USA): $ 175

Supermarket food budget in Reykjavik

Milk

$ 1.4/litre
($ 1.3 to $ 2.2)

---

67% more than in the United States (USA) Average price in the United States (USA): $ 0.9

Bread

$ 3.5/500g
($ 2.4 to $ 4.3)

---

27% more than in the United States (USA) Average price in the United States (USA): $ 2.7

Rice

$ 2.7/kg
($ 1.7 to $ 4.8)

---

32% less than in the United States (USA) Average price in the United States (USA): $ 4.1

Eggs

$ 5.7/12 eggs
($ 4.2 to $ 6.9)

---

139% more than in the United States (USA) Average price in the United States (USA): $ 2.4

Cheese

$ 15/kg
($ 10 to $ 23)

---

34% more than in the United States (USA) Average price in the United States (USA): $ 12

Chicken

$ 18/kg
($ 14 to $ 22)

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87% more than in the United States (USA) Average price in the United States (USA): $ 9.2

Apples

$ 2.5/kg
($ 1.6 to $ 3.3)

---

45% less than in the United States (USA) Average price in the United States (USA): $ 4.6

Oranges

$ 2.4/kg
($ 2.2 to $ 3.3)

---

40% less than in the United States (USA) Average price in the United States (USA): $ 4.1

Tomatoes

$ 3.9/kg
($ 2.4 to $ 5.5)

---

10% less than in the United States (USA) Average price in the United States (USA): $ 4.3

Potatoes

$ 2.2/kg
($ 1.2 to $ 3.3)

---

19% less than in the United States (USA) Average price in the United States (USA): $ 2.7

Salad

$ 2.6/salad
($ 1.1 to $ 3.3)

---

61% more than in the United States (USA) Average price in the United States (USA): $ 1.6

Water bottle

$ 1.9
($ 1.1 to $ 2.5)

---

5% more than in the United States (USA) Average price in the United States (USA): $ 1.9

Joint of beef

$ 27/kg
($ 17 to $ 42)

---

102% more than in the United States (USA) Average price in the United States (USA): $ 13

Public and private transport budget in Reykjavik

Bus ticket

$ 3.9/ticket
($ 3.8 to $ 4.1)

---

75% more than in the United States (USA) Average price in the United States (USA): $ 2.3

Bus pass

$ 109/month
($ 106 to $ 112)

---

51% more than in the United States (USA) Average price in the United States (USA): $ 72

Taxi (per km)

$ 2.7/km
($ 2 to $ 3.8)

---

60% more than in the United States (USA) Average price in the United States (USA): $ 1.7

Petrol

$ 1.9/litre
($ 1.7 to $ 2)

---

176% more than in the United States (USA) Average price in the United States (USA): $ 0.7

Taxi (initial pick-up charge)

$ 5.9
($ 5.9 to $ 8.4)

---

79% more than in the United States (USA) Average price in the United States (USA): $ 3.3

Car hire

$ 58/24hrs
($ 1.2 to $ 182)

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46% more than in the United States (USA) Average price in the United States (USA): $ 40

Budget for living and housing in Reykjavik

Electricity, water...

$ 106/month
($ 60 to $ 169)

---

36% less than in the United States (USA) Average price in the United States (USA): $ 164

Mobile phone

$ 0.2/min.
($ 0 to $ 0.2)

---

25% more than in the United States (USA) Average price in the United States (USA): $ 0.1

Broadband internet

$ 72/month
($ 59 to $ 102)

---

6% more than in the United States (USA) Average price in the United States (USA): $ 67

Studio flat (city centre)

$ 1661/month
($ 1261 to $ 2101)

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22% more than in the United States (USA) Average price in the United States (USA): $ 1367

Studio flat (suburbs)

$ 1367/month
($ 1009 to $ 1884)

---

25% more than in the United States (USA) Average price in the United States (USA): $ 1095

Flat (centre)

$ 2703/month
($ 2186 to $ 3782)

---

24% more than in the United States (USA) Average price in the United States (USA): $ 2195

Flat (suburbs)

$ 2223/month
($ 1892 to $ 2690)

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28% more than in the United States (USA) Average price in the United States (USA): $ 1739

Gym

$ 65/month
($ 52 to $ 102)

---

67% more than in the United States (USA) Average price in the United States (USA): $ 39

Private nursery

$ 291/month
($ 219 to $ 404)

---

69% less than in the United States (USA) Average price in the United States (USA): $ 953

Private primary school

$ 7227/yr
($ 5043 to $ 16805)

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55% less than in the United States (USA) Average price in the United States (USA): $ 16399

Leisure activity budget in Reykjavik

Cinema

$ 14/ticket
($ 13 to $ 17)

---

11% more than in the United States (USA) Average price in the United States (USA): $ 13

Tennis

$ 44/hr
($ 27 to $ 75)

---

163% more than in the United States (USA) Average price in the United States (USA): $ 17

Budget for clothes and price of cigarettes in Reykjavik

Cigarettes

$ 13/pack
($ 12 to $ 16)

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51% more than in the United States (USA) Average price in the United States (USA): $ 8.1

Levi's jeans

$ 127
($ 69 to $ 161)

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178% more than in the United States (USA) Average price in the United States (USA): $ 46

Summer dress

$ 53
($ 27 to $ 94)

---

41% more than in the United States (USA) Average price in the United States (USA): $ 38

Trainers

$ 146
($ 85 to $ 177)

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88% more than in the United States (USA) Average price in the United States (USA): $ 78

Leather shoes

$ 186
($ 127 to $ 287)

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89% more than in the United States (USA) Average price in the United States (USA): $ 98

Plane ticket budget

New York City → Reykjavik

$ 541
(fair price: $ 451)

Los Angeles → Reykjavik

$ 885
(fair price: $ 769)

Toronto (Ontario) → Reykjavik

$ 604
(fair price: $ 511)

Manchester → Reykjavik

$ 245
(fair price: $ 204)

Dublin → Reykjavik

$ 230
(fair price: $ 199)

Edinburgh → Reykjavik

$ 286
(fair price: $ 229)

Montreal → Reykjavik

$ 793
(fair price: $ 670)

London → Reykjavik

$ 195
(fair price: $ 157)

Sydney → Reykjavik

$ 1726
(fair price: $ 1425)

Melbourne → Reykjavik

$ 1548
(fair price: $ 1387)

Perth → Reykjavik

$ 1449
(fair price: $ 1259)

Auckland → Reykjavik

$ 1753
(fair price: $ 1514)

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