Reykjavik is a friendly city known for its proximity to natural beauty and many thermal pools, as well as its active nightlife scene and many festivals.. In this travel cost guide, we'll cover everything you need to know to plan your travel budget and have an amazing trip without spending too much. This guide includes average trip costs from previous travelers, typical hotel prices, food and dining costs, entertainment and sightseeing prices, and information about transportation. So, whether you're hiking in nature or taking in the beauty, you'll be able to plan your perfect trip to Reykjavik, all while staying within budget.
How much does it cost to travel to Reykjavik?
You should plan to spend around $270 (kr37,426) per day on your vacation in Reykjavik. This is the average daily price based on the expenses of other visitors.
Past travelers have spent, on average for one day:
- $53 (kr7,284) on meals
- $46 (kr6,369) on local transportation
- $281 (kr38,944) on hotels
A one week trip to Reykjavik for two people costs, on average, $3,777 (kr523,964). This includes accommodation, food, local transportation, and sightseeing.
All of these average travel prices have been collected from other travelers to help you plan your own travel budget.
-
One Week
Per person
$1,888
kr261,982
-
2 Weeks
Per person
$3,777
kr523,964
-
One Month
Per person
$8,093
kr1,122,780
-
One Week
For a couple
$3,777
kr523,964
-
2 Weeks
For a couple
$7,553
kr1,047,928
-
One Month
For a couple
$16,186
kr2,245,560
How much does a one week, two week, or one month trip to Reykjavik cost?
A one week trip to Reykjavik usually costs around $1,888 (kr261,982) for one person and $3,777 (kr523,964) for two people. This includes accommodation, food, local transportation, and sightseeing.
A two week trip to Reykjavik on average costs around $3,777 (kr523,964) for one person and $7,553 (kr1,047,928) for two people. This cost includes accommodation, food, local transportation, and sightseeing.
Please note, prices can vary based on your travel style, speed, and other variables. If you're traveling as a family of three or four people, the price per person often goes down because kid's tickets are cheaper and hotel rooms can be shared. If you travel slower over a longer period of time then your daily budget will also go down. Two people traveling together for one month in Reykjavik will often have a lower daily budget per person than one person traveling alone for one week.
A one month trip to Reykjavik on average costs around $8,093 (kr1,122,780) for one person and $16,186 (kr2,245,560) for two people. The more places you visit, the higher the daily price will become due to increased transportation costs.
Is Reykjavik expensive to visit?
Reykjavik is a popular city that attracts a diverse array of travelers, reflecting a mix of travel styles and spending habits. Accommodation options range from budget-friendly hostels to mid-range hotels to high-end luxury properties.
Reykjavik can become quite costly if you let it, but there are ways to save money, such as taking public transit and enjoying the free hiking trails.
On average, budget travelers spend $106 (kr14,579) per day, mid-range travelers spend $272 (kr37,426) per day, and luxury travelers spend around $806 (kr110,731) per day. These costs are calculated from the expenses of previous travelers to Reykjavik.
Within Europe, which is known to be an expensive region, Reykjavik is a moderately priced destination compared to other places. The overall cost of travel here is fair for the region and comparable to Inverness or Santorini.
For more details, and to find out if it's within your travel budget, see Is Reykjavik Expensive?
How much money do I need for a trip to Reykjavik?
The average Reykjavik trip cost is broken down by category here for independent travelers. All of these Reykjavik travel prices are calculated from the budgets of real travelers. Also, you can see more details at How much does a trip to Reykjavik cost?
Reykjavik on a Budget
Category
|
Budget
|
Mid-Range
|
Luxury
|
Accommodation 1
For 1 person in double occupancy
|
$46
(kr6,408)
|
$140
(kr19,472)
|
$490
(kr67,965)
|
Local Transportation 1
|
$19
(kr2,603)
|
$46
(kr6,369)
|
$107
(kr14,841)
|
Food 2
|
$21
(kr2,863)
|
$53
(kr7,284)
|
$134
(kr18,640)
|
Entertainment 1
|
$29
(kr4,051)
|
$73
(kr10,064)
|
$176
(kr24,354)
|
Alcohol 2
|
$6-18
(kr842-2,526)
|
$14-42
(kr1,957-5,872)
|
$28-85
(kr3,949-11,846)
|
Realistic Expectations for Your Travel Budget
Having realistic expectations for your budget when visiting Reykjavik is important. While it's tempting to aim for a shoestring budget, most travelers don't find that style of travel to be enjoyable. Think about your priorities and how you've traveled in the past. Do you prefer staying in budget accommodations or enjoying more luxurious options? Do you like to explore attractions and dine out at local restaurants? These choices will influence your travel costs and itinerary.
What is a budget traveler, anyway?
You might consider yourself a budget traveler, but if you're not ready to give up some comforts, prepare to spend a lot more than the $106 per day that younger budget travelers manage.
Backpackers will usually stick to this shoestring budget by staying in hostel dorms, dining at the cheapest spots such as fast food places, using public transit, and mostly visiting free attractions.
Thankfully, Reykjavik is filled with plenty of hostels, such as KEX Hostel, Bus Hostel Reykjavik, and Reykjavik - Loft HI Eco Hostel. Staying in these hostels means you can enjoy low-cost dorm accommodation and a fun social atmosphere, although amenities may be basic.
Are You Considered an Average Traveler?
If you're traveling for leisure as a couple or family, you'll probably prefer a mid-range hotel, dine at well-known restaurants, and explore the major museums and attractions that charge entry fees. It's common for visitors to Reykjavik to seek out the major attractions, museums, and significant landmarks. Remember, most activities come with a cost. Therefore, it's reasonable to anticipate that your daily budget will be around $272 per person, per day.
Reykjavik boasts a wide array of hotels and vacation rentals. When traveling with others, you can share accommodations with a partner, friend, or children, thus reducing your expenses. Families should prioritize hotels and restaurants that are geared toward kids. Reykjavik Residence Apartment Hotel is an excellent family-friendly option, while Kvosin Downtown Hotel is also superb. You can find additional family and couple-friendly hotels in our hotel guide for Reykjavik here.
Want to Experience a Luxurious Trip?
If you're looking for a higher-end vacation filled with high-end amenities and exceptional service, plan for a daily expense of approximately $806. Staying at nicer hotels, savoring meals at top-rated restaurants, splurging on lavish outings, and utilizing taxis or private drivers in the city means you'll need a more luxurious budget. Many high-end visitors also prefer unique experiences such as Arrival in Iceland - Private airport transfer from KEF Airport - offered by Viator.
Accommodation Budget in Reykjavik
In Reykjavik, hotel prices can be quite surprising. Higher-end hotels offer more amenities and luxury, but come at a higher price tag, especially during the peak summer season. Off-season prices average around $131, but in peak season, they can average around $244. Prices generally range from $81 to $401, and hostels remain the cheaper option. Booking early or traveling during the low season can save you money, and you might find special deals along the way.
Calculated from travelers like you
The average price paid in Reykjavik for two people for a typical double-occupancy hotel room is $281 (kr38,944). For one person sharing a room, the average price paid for a hotel room is $140 (kr19,472) per night. These costs are from the reported spending of actual travelers.
Looking for a hotel in Reykjavik? Prices vary by location, date, season, and the level of luxury. See below for options.
The most affordable highest rated hotels in Reykjavik include:
- Reykjavik Residence Apartment Hotel starting at $136
- Kvosin Downtown Hotel starting at $177
- Sand Hotel by Keahotels starting at $165
- Apotek Hotel Reykjavik by Keahotels starting at $125
- Canopy by Hilton Reykjavik City Centre starting at $167
Thanks to Reykjavik's great public transit, staying outside the city is an option to save on accommodation, but be prepared for the trade-off of extra transportation costs.
If you're traveling to Reykjavik with kids, you'll want to choose an apartment or accommodation with more space to enjoy.
Many people spend up to a week in Reykjavik. If you're here for an extended time, a vacation rental with a kitchen could be helpful for preparing your own meals.
If you plan your trip outside of summer and during the low or shoulder season, you'll find better accommodation rates and fewer tourists.
Many travelers like to navigate Reykjavik on foot which can save on transportation costs. So, you'll want to stay in a more central location. This could mean higher hotels prices, though.
Transportation Budget in Reykjavik
Reykjavik has a public transit system that connects to several key locations. There is a fairly comprehensive bus system around town. Public transport is an affordable and quick choice if it's near where you're going, with taxis and rideshares also available for added convenience.
Anyone who enjoys a good walk to discover their surroundings will love it here. The city is small and compact, so it's easy to explore on foot.
Public Transit: (good)
Walkability: (great)
Calculated from travelers like you
-
On average, past travelers have spent $46 (kr6,369) per person, per day, on local transportation in Reykjavik. The cost of a taxi ride or rideshare service (Uber/Lyft) in Reykjavik is significantly more than public transportation.
-
Transportation1
Taxis, local buses, subway, etc.
$46
kr6,369
Be sure your hotel has hassle-free parking if you're planning to drive.
Some of the standard transportation options and hotel transfers include:
- From Private Transfer to KEF Airport in Iceland for $217 details
- Private Transfer from Reykjavik to Keflavik Airport for $153 details
- Iceland: Airport Transfer Between Reykjavík Center and Keflavík for $29 details
How much does it cost to go to Reykjavik? Naturally, it depends on the dates. We recommend Kayak because they can find the best deals across all airlines.
The price of renting a car in Reykjavik will depends on dates, the type of car, the location, and your age. We recommend Kayak because they can find the best deals across all car rental companies.
Food Budget in Reykjavik
In Reykjavik, the food choices are somewhat restricted and the quality isn't the highest. It's wise to avoid overspending on dining out since there are other activities that deserve your attention. Traditional Icelandic food may not have the best reputation, but restaurants these days are pretty good with a variety of dishes to choose from. Popular foods in the area include fish, lamb, and Icelandic skyr (a type of yogurt).
Calculated from travelers like you
-
While restaurant and meal prices in Reykjavik can vary significantly, the average cost of food in Reykjavik is $53 (kr7,284) per day, per person, based on the spending habits of previous travelers.
-
Food2
Meals for one day
$53
kr7,284
When dining out, the average daily cost for food in Reykjavik is around $53 (kr7284) per person, with previous travelers spending from $21 to $136. Generally, breakfast and lunch cost less than dinner, but this will depend on the type of restaurant and what you order.
Typical meal prices in Reykjavik are as follows:
- Breakfast: $5 to $16
- Lunch: $8 to $21
- Dinner: $16 to $37
- Coffee: $4
- Fast Food or Street Food: $8
Eating out in Iceland can be expensive. There are some decent budget options around town, but the quality of the food can vary. International restaurants that sell Thai or Chinese food may be a good option. In particular, there are many different Thai restaurants as they form a sizable minority in the country. There are also plenty of fast food restaurants around town that are similar to what you'd find in Europe or the United States. You'll find recognizable chains such as KFC or McDonalds, but you'll also find some Icelandic chains such as Nonnabit or Ali Baba, which sells kebabs. Many places are open all night over the weekends. Hot dog stands are also everywhere and very affordable.
If you're on a particularly tight budget, then you can grab some ready made food at a 10-11. This is a convenience store chain that has sandwiches, wraps, and tacos. Even more affordable is the low cost supermarket chain of Bonus. Fish shops are also a great option if you're prepared to cook it yourself.
If you're on a trip with your kids, find restaurants that offer a kids' menu. This can really help you save money since those options are typically much more affordable. Some places might not show the kids' meals on their menu, so be sure to check with your waiter first.
Countless hotels provide breakfast as part of your stay, but some will add it as an additional fee. The price and quality can change based on the hotel. Being informed ahead of time can aid in deciding whether to budget extra funds. You might enjoy the delightful buffet offered at the hotel, or perhaps a more economical option would be a nearby bakery or cafe.
Make a picnic for a budget-friendly way to enjoy the scenery. Visit a nearby grocery store or market, stock up on fresh goodies, and find a beautiful park or scenic spot to have your meal.
Carry a reusable water bottle with you to avoid spending on drinks. It's also a win for the environment.
When planning your tour, don't forget to check what meals are included. You might have to pay for some of your own food, which could add to your expenses.
Taking a food tour or cooking class is a great way to experience the culture in Reykjavik. After all, cuisine is one of the reasons why so many people visit. A few of the best culinary activities here include:
- 3 Hour Shared Christmas Food Tour with Guide in Reykjavik for $149 details
- Kopar Fine Dining Dinner and Northern Lights Cruise from Reykjavik for $186 details
- Reykjavik Food Tour in the Old Harbor - BiteSizedIceland.com for $124 details
Food and meal prices in Reykjavik, based on real travelers' reported expenses, are shown below. These typical costs can give you a sense of the overall price range for meals. However, your individual expenses might be different depending on your dining habits, restaurant choices, and specific orders.
-
Dinner (Fish Market)
kr24,852
Sightseeing and Activities Budget in Reykjavik
Visitors find Reykjavik irresistible, especially for its hiking, family-friendly activities, romance, and nightlife.
Calculated from travelers like you
-
Sightseeing activities, entertainment, and entrance tickets in Reykjavik typically cost an average of $73 (kr10,064) per person, per day based on the spending of previous travelers. This includes fees paid for admission tickets to museums and attractions, day tours, and other sightseeing expenses.
-
Entertainment1
Entrance tickets, shows, etc.
$73
kr10,064
Reykjavik's old town is a pleasant area to walk around. The houses are unique and brightly colored, making for an interesting atmosphere. Make sure you allow yourself enough time to just wander.
The city also has many parks. Popular ones include Tjornin, Austurvollur, Klambratun and Reykjavik Botanical Gardens, among others. Popular museums include the National Gallery of Iceland, the Reykjavik Art Museum, the National Museum of Iceland and the City Museum.
One of the most famous places to visit in Iceland is the Blue Lagoon. It is a Geothermal Spa that is located between the city of Reykjavik and Keflavik Airport. It's about a 45-minute drive from the city's downtown, and once you're there, you'll find plenty of parking. In addition to this famous destination, there are other hotsprings in Iceland that are worth visiting and less crowded.
There are many things to do in Reykjavik that any type of visitor can enjoy. The city has a great music scene with plenty of concerts year around. There are also two main theaters where you can see impressive shows. Festivals in the city include Culture Night in August, Gay Pride, also in August, National Day in June, Iceland Airwaves in October, the Reykjavik International Film Festival in September and the Reykjavik Arts Festival in May.
Reykjavik is also a great place to base yourself to see the surrounding countryside and wildlife in southern Iceland. Why not take a day trip from Reykjavik to the south coast of Iceland, or to one of many other locations around town such as Skogafoss, whale watching, the various hot springs, or Seljalandsfoss Waterfall.
Hiking:
The hiking routes surrounding Reykjavik are incredible. The city offers easy access to some of the world's most spectacular scenery. There are many hikes that you can easily reach from town. They pass through diverse landscapes that include waterfalls, mountains, glaciers, and beaches.
A nice way to explore destinations in Reykjavik is with local tours that last just a few hours. This way you can see as much as possible in an efficient way with knowledgable guides. Prices vary by the type of activity or tour, the dates, and the size of the group. Here are a few of the highest rated tours by previous visitors:
- 3hr Volcanic Springs ATV Adventure from Reykjavik for $299 details
- 1hr ATV & Golden Circle Adventure from Reykjavik for $276 details
- 1hr ATV Adventure & Caving from Reykjavik for $270 details
Listed below are some typical prices for attractions, activities, and entry fees in Reykjavik, sourced from actual travelers. These costs give you an idea of how much you might spend. However, your personal expenses will depend on the activities you choose, the museums or landmarks you visit, and how frequently you opt for free or low-cost options.
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Art Museum
kr1,500
-
Wine and Spa
kr4,079
Nightlife Budget in Reykjavik
If you're looking for nightlife, Reykjavik has some options, but it's less active than in other more popular locales. The city offers the best nightlife in Iceland and you'll be surprised at the number of clubs, bars, and craft breweries that you can choose from. Almost all of the popular nightlife spots are around Laugavegur, a major shopping street in town.
Calculated from travelers like you
-
The average person spends about $28 (kr3,914) on nightlife and alcoholic beverages in Reykjavik per day. The more you spend on alcohol, the more fun you might be having despite your higher budget.
-
Alcohol2
Drinks for one day
$28
kr3,914
Enjoying the nightlife is always a highlight, but cutting back on drinks can really help you save money on your travels.
If you're out drinking at night, keep an eye on your surroundings. You could be a target for pickpockets, so it's wise to stay in a group and with people you trust.
Nightlife activities and tasting tours are popular in Reykjavik. A few favorites from other travelers include:
- Gin Distillery tour and tasting for $35 details
- Eimverk Distillery Guided Tour with Tasting for $32 details
- Private Brewery & Beer Tasting Tour for $422 details
Listed below are typical prices for alcohol and nightlife in Reykjavik, as reported by real travelers. These figures should give you an idea of what drinks cost. However, your actual expenses will depend on your nightlife activities and dining choices, how frequently you consume alcohol, and the quantity you order. If you're looking to save on your trip, reducing your alcohol consumption is one of the easiest ways to cut down on your budget.
Travel cost data last updated: Sep 6, 2023
Traveling in Reykjavik
Reykjavik, Iceland
Reykjavik is the capital and largest city in the country of Iceland. The city is where the vast majority of the country's population resides and the urban area has about 200,000 residents. The city is sprawling, with a large area covered in suburbs. The the city center is quite compact, with many interesting and colorful houses. There are a lot of things that attract tourists to this city, including an interesting culture and history as well as plenty of shopping and dining opportunities.
Reykjavik's climate is subpolar oceanic with unpredictable shifts in temperature and precipitation. It is not uncommon for a beautiful, sunny summer day to change into a rainy and cool afternoon or evening. Temperatures are relatively moderate throughout the year. January is the coldest month and you can expect some snow. Summer is the best time to visit. The temperatures are still quite cool with temperatures ranging from 10 to 15 degrees Celsius and sometimes going over 20 degrees Celsius. While visitors consider these temperatures cool, residents take full advantage of them, soaking up the sun and enjoying the outdoors while they have the opportunity.
Neighborhoods & Around
Neighborhoods of interest in Reykjavik include the City Center (also referred to as the Old Town), Laugavegur, Laugadalur, and the 'Burbs. The City Center is where you'll find most of the tourist sights. It's a great area to walk around. Laugavegur is the shopping area in town. There are many high end boutiques as well as coffee shops and cafes. Laugadalur is to the north of the center and runs along the coast. It is a residential area with hot springs. The 'Burbs are predominantly residential with little of interest for tourists.
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We've been gathering travel costs from tens of thousands of actual travelers since 2010, and we use the data to calculate average daily travel costs for destinations around the world. We also systematically analyze the prices of hotels, hostels, and tours from travel providers such as Kayak, HostelWorld, TourRadar, Viator, and others. This combination of expenses from actual travelers, combined with pricing data from major travel companies, gives us a uniqe insight into the overall cost of travel for thousands of cities in countries around the world. You can see more here: How it Works.