Travel Budget for Reykjavik Visit Reykjavik on a Budget or Travel in Style

Reykjavik, Hofudborgarsvadi, Iceland

How much does it cost to travel to Reykjavik?

You should plan to spend around $245 (kr34,353) 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:

  • $30 (kr4,210) on meals
  • $45 (kr6,369) on local transportation
  • $278 (kr38,944) on hotels

A one week trip to Reykjavik for two people costs, on average, $3,434 (kr480,937). 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.

  • Average Daily Cost Per person, per day
  • One Week Per person
  • 2 Weeks Per person
  • One Month Per person
  • One Week For a couple
  • 2 Weeks For a couple
  • One Month For a couple
This data comes from the travel budgets of real travelers - How it works. Put these numbers on your website.

How much does a one week, two week, or one month trip to Reykjavik cost?

A one week trip to Reykjavik usually costs around $1,717 (kr240,469) for one person and $3,434 (kr480,937) for two people. This includes accommodation, food, local transportation, and sightseeing.

A two week trip to Reykjavik on average costs around $3,434 (kr480,937) for one person and $6,868 (kr961,875) 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 $7,358 (kr1,030,580) for one person and $14,717 (kr2,061,160) for two people. The more places you visit, the higher the daily price will become due to increased transportation costs.

Independent Travel

Traveling Independently to Reykjavik has many benefits including affordabilty, freedom, flexibility, and the opportunity to control your own experiences.

All of the travel costs below are based on the experiences of other independent travelers.

Is Reykjavik expensive to visit?

Prices in Reykjavik are reasonable and comparable to your average travel destination. Hotels, food, and sightseeing are generally within normal price ranges.

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 Grindelwald or Paris.

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.

Category Cost
Accommodation 1 (Double Occupancy) kr38,944 ($278)
Local Transportation 1 kr6,369 ($45)
Food 2 kr4,210 ($30)
Entertainment 1 kr10,064 ($72)
Tips and Handouts 1 kr7,346 - 22,039 ($52 - 157)
Alcohol 2 kr1,957 - 5,872 ($14 - 42)
Accommodation Budget in Reykjavik
Average Daily Costs

Calculated from travelers like you

The average price paid for one person for accommodation in Reykjavik is $139 (kr19,472). For two people sharing a typical double-occupancy hotel room, the average price paid for a hotel room in Reykjavik is $278 (kr38,944). This cost is from the reported spending of actual travelers.

  • Accommodation1 Hotel or hostel for one person
  • Accommodation1 Typical double-occupancy room

Hotel Prices in Reykjavik

Looking for a hotel in Reykjavik? Prices vary by location, date, season, and the level of luxury. See below for options.

Find the best hotel for your travel style.


Actual Hotel Prices
The average hotel room price in Reykjavik based on data provided by Kayak for actual hotel rooms is $131. (Prices in U.S. Dollars, before taxes & fees.)

Kayak helps you find the best prices for hotels, flights, and rental cars for destinations around the world.

Recommended Properties

Transportation Budget in Reykjavik
Average Daily Costs

Calculated from travelers like you

  • The cost of a taxi ride in Reykjavik is significantly more than public transportation. On average, past travelers have spent $45 (kr6,369) per person, per day, on local transportation in Reykjavik.

  • Transportation1 Taxis, local buses, subway, etc.

Recommended Services

Flights to Reykjavik
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.

Rental Cars in Reykjavik
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
Average Daily Costs

Calculated from travelers like you

  • While meal prices in Reykjavik can vary, the average cost of food in Reykjavik is $30 (kr4,210) per day. Based on the spending habits of previous travelers, when dining out an average meal in Reykjavik should cost around $12 (kr1,684) per person. Breakfast prices are usually a little cheaper than lunch or dinner. The price of food in sit-down restaurants in Reykjavik is often higher than fast food prices or street food prices.

  • Food2 Meals for one day


What did other people spend on Food in Reykjavik?

Typical prices for Food in Reykjavik are listed below. These actual costs are from real travelers and can give you an idea of the prices in Reykjavik, but your costs will vary based on your travel style.

  • Dinner (Fish Market)

Entertainment Budget in Reykjavik
Average Daily Costs

Calculated from travelers like you

  • Entertainment and activities in Reykjavik typically cost an average of $72 (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.

Recommended Activities

What did other people spend on Entertainment in Reykjavik?

Typical prices for Entertainment in Reykjavik are listed below. These actual costs are from real travelers and can give you an idea of the prices in Reykjavik, but your costs will vary based on your travel style.

  • Art Museum
  • Wine and Spa

Tips and Handouts Budget in Reykjavik
Average Daily Costs

Calculated from travelers like you

  • The average cost for Tips and Handouts in Reykjavik is $105 (kr14,693) per day. The usual amount for a tip in Reykjavik is 5% - 15%.

  • Tips and Handouts1 For guides or service providers

Alcohol Budget in Reykjavik
Average Daily Costs

Calculated from travelers like you

  • The average person spends about $28 (kr3,914) on 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


What did other people spend on Alcohol in Reykjavik?

Typical prices for Alcohol in Reykjavik are listed below. These actual costs are from real travelers and can give you an idea of the prices in Reykjavik, but your costs will vary based on your travel style.

  • Beer

Last Updated: Sep 6, 2023
Reykjavik On a Budget
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.
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.
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.

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.
Food and Dining
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.

Most visitors enjoy walking around the city center in Reykjavik. Most of the attractions are within close proximity of each other, and many of the hotels are in the same area. There are excellent sidewalks around town and there is also a footpath that circles the entire city. It passes by an outdoor swimming pool, a sandy beach, a golf course, and a salmon river. You can pick it up almost anywhere that the city meets the sea.

There is a public bus system that is efficient and reliable. You'll likely make use of the system if your hotel is outside of the city center. Day passes are available if you plan to use the system frequently. Also consider picking up a "Welcome card" at the tourist information center by Ingolfstorg. This will give you free access to the buses as well as several museums. The main bus terminals are Hlemmur and L├Žkjartorg. There you can pick up buses that will take you to any part of the city.

Most residents of the city prefer to drive around town, but as a tourist, a vehicle is not necessary. If you hope to travel outside of the city, such as to the South Coast of Iceland, it is recommended that you have a vehicle. There is a decent amount of parking available around town and you'll find large parking lots by the harbour and in front of the flea market.

Getting to Iceland is quite easy, as a number of airlines fly through Reykjavik, including Iceland Air and WOW Airlines. (Check out this review of WOW Airlines here for more information.) Most major U.S. and European airlines also have stopovers here.
Iceland makes for a great combination with Ireland for a one-week itinerary to Europe.
Traveling independently and looking for a hostel in Iceland?
Are you organizing group travel and need a place to stay in Reykjavik?

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.

1 Categories averaged on a per-item basis.
2 Categories averaged on a per-day basis.
For example, the Food2 daily average is for all meals for an entire day, while Entertainment1 is for each individual purchase. Thus, the overall daily average cost is not a summation of the individual categories.

Budget Your Trip is all about finding out how much everything costs so that you can travel cheaper and longer. Created by avid travelers Laurie and Bryan, our goal is to help you plan your next trip on the right budget. With average daily travel costs that are calculated from the budgets of real travelers, plus an analysis of hotel and tour prices, you can find out how much money you need to plan your next adventure. We also have plenty of travel advice, accommodation reviews, and activity suggestions.

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