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

Reykjavík travel budget

Reykjavík: calculate your travel budget

Sample budgets for a trip to Reykjavík

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

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

Cost of living in Reykjavík compared to United States in 2024

On average, the cost of living in Reykjavík in 2024 is 35% 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 Reykjavík in 2024 compared to average prices in the United States (USA):

Local prices in Reykjavík by expense type

Restaurant budget in Reykjavík

Lunch

$ 23/person
($ 14 to $ 31)

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11% more than in the United States (USA) Average price in the United States (USA): $ 20

3 course dinner

$ 63/person
($ 37 to $ 103)

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65% more than in the United States (USA) Average price in the United States (USA): $ 38

McDonald's meal

$ 19/person
($ 17 to $ 22)

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67% more than in the United States (USA) Average price in the United States (USA): $ 11

Local beer

$ 12 for 500ml
($ 7.3 to $ 14)

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84% more than in the United States (USA) Average price in the United States (USA): $ 6

Imported beer

$ 2.7 for 330ml
($ 2 to $ 3.3)

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25% less than in the United States (USA) Average price in the United States (USA): $ 3.5

Cappuccino

$ 5.2/cup
($ 4 to $ 6.9)

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3% more than in the United States (USA) Average price in the United States (USA): $ 5.1

Fizzy drink

$ 3.2/can
($ 2.2 to $ 4.3)

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31% more than in the United States (USA) Average price in the United States (USA): $ 2.5

Water bottle

$ 2.2/bottle
($ 1.4 to $ 3.3)

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7% more than in the United States (USA) Average price in the United States (USA): $ 2

Hotel and accommodation budget in Reykjavík

1-star hotel

$ 249/night
($ 76 to $ 841)

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39% more than in the United States (USA) Average price in the United States (USA): $ 181

2-star hotel

$ 174/night
($ 86 to $ 425)

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7% more than in the United States (USA) Average price in the United States (USA): $ 163

3-star hotel

$ 258/night
($ 103 to $ 726)

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9% more than in the United States (USA) Average price in the United States (USA): $ 238

4-star hotel

$ 327/night
($ 136 to $ 980)

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3% more than in the United States (USA) Average price in the United States (USA): $ 321

5-star hotel

$ 581/night
($ 424 to $ 940)

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20% more than in the United States (USA) Average price in the United States (USA): $ 484

Hostel/Youth Hostel

$ 201/month
($ 112 to $ 480)

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17% more than in the United States (USA) Average price in the United States (USA): $ 172

Room with kitchen

$ 286/month
($ 97 to $ 932)

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14% more than in the United States (USA) Average price in the United States (USA): $ 252

Hotel with swimming pool

$ 269/month
($ 117 to $ 674)

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24% more than in the United States (USA) Average price in the United States (USA): $ 218

Cottage or guest house

$ 223/month
($ 111 to $ 553)

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4% less than in the United States (USA) Average price in the United States (USA): $ 233

Family room

$ 384/month
($ 139 to $ 1221)

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76% more than in the United States (USA) Average price in the United States (USA): $ 219

Supermarket food budget in Reykjavík

Milk

$ 1.7/litre
($ 1.4 to $ 2.3)

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62% more than in the United States (USA) Average price in the United States (USA): $ 1

Bread

$ 3.7/500g
($ 2.2 to $ 7.3)

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2% more than in the United States (USA) Average price in the United States (USA): $ 3.6

Rice

$ 3.2/kg
($ 2.1 to $ 5.1)

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29% less than in the United States (USA) Average price in the United States (USA): $ 4.5

Eggs

$ 5.9/12 eggs
($ 4.3 to $ 7)

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59% more than in the United States (USA) Average price in the United States (USA): $ 3.7

Chicken

$ 22/kg
($ 12 to $ 28)

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76% more than in the United States (USA) Average price in the United States (USA): $ 12

Apples

$ 3/kg
($ 2 to $ 4.3)

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42% less than in the United States (USA) Average price in the United States (USA): $ 5.3

Tomatoes

$ 5/kg
($ 2.3 to $ 6.9)

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2% more than in the United States (USA) Average price in the United States (USA): $ 4.9

Potatoes

$ 3.2/kg
($ 1.7 to $ 4)

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8% more than in the United States (USA) Average price in the United States (USA): $ 3

Water bottle

$ 2
($ 0.9 to $ 3.3)

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7% less than in the United States (USA) Average price in the United States (USA): $ 2.2

Public and private transport budget in Reykjavík

Bus ticket

$ 4.6/ticket
($ 4.1 to $ 4.8)

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85% more than in the United States (USA) Average price in the United States (USA): $ 2.5

Taxi (per km)

$ 2.3/km
($ 2.2 to $ 4.3)

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40% more than in the United States (USA) Average price in the United States (USA): $ 1.7

Petrol

$ 2.3/litre
($ 2.1 to $ 2.4)

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139% more than in the United States (USA) Average price in the United States (USA): $ 1

Taxi (initial pick-up charge)

$ 5.4
($ 5.3 to $ 6.6)

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54% more than in the United States (USA) Average price in the United States (USA): $ 3.5

Car hire

$ 52/24hrs
($ 27 to $ 93)

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26% less than in the United States (USA) Average price in the United States (USA): $ 71

Leisure activity budget in Reykjavík

Cinema

$ 16/ticket
($ 13 to $ 18)

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8% more than in the United States (USA) Average price in the United States (USA): $ 14

Tennis

$ 35/hr
($ 21 to $ 56)

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61% more than in the United States (USA) Average price in the United States (USA): $ 22

Budget for clothes and price of cigarettes in Reykjavík

Cigarettes

$ 13/pack
($ 12 to $ 14)

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22% more than in the United States (USA) Average price in the United States (USA): $ 9.9

Levi's jeans

$ 112
($ 61 to $ 147)

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112% more than in the United States (USA) Average price in the United States (USA): $ 53

Summer dress

$ 52
($ 28 to $ 96)

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17% more than in the United States (USA) Average price in the United States (USA): $ 44

Plane ticket budget

New York City → Reykjavík

$ 424
(fair price: $ 351)

Toronto → Reykjavík

$ 504
(fair price: $ 376)

London → Reykjavík

$ 156
(fair price: $ 123)

Chicago → Reykjavík

$ 731
(fair price: $ 635)

Montreal → Reykjavík

$ 824
(fair price: $ 741)

Edinburgh → Reykjavík

$ 205
(fair price: $ 175)

Book a flight Flight prices to Reykjavík