How Much Things Cost in Iceland

How much do things cost in Iceland? I get asked this question a lot when talking about Iceland. There's some areas where Iceland is really expensive, like food and gas, but there are some ways to keep the costs down.

Here’s a breakdown of how much we spent on our 7-day road trip in Iceland:

FOOD

Food was generally expensive if you ate at restaurants. Entrees ranged from $20-$30, so if you eat at a decent restaurant, you’re looking at paying $30-$50 per person with appetizers and drinks. Alcohol is super duper expensive, so we didn’t even bother drinking liquor.

Expensive dinner at Blue Lagoon's Lava restaurant

Expensive dinner at Blue Lagoon's Lava restaurant

Good news is that there are cheaper options. Iceland loves pylsurs, a.k.a. hot dogs, and they are delicious and cheap at around $3. You’ll find hot dogs everywhere in Iceland from hot dog stands to gas stations to convenient stores.

Delicious hot dogs in Iceland

Delicious hot dogs in Iceland

You can also save tons of money by grocery shopping. The main food supermarket in Iceland is Bonus and you’ll find them in small towns as well. We stocked up on Snackpots (which were pretty good instant pasta), crackers, bread, peanut butter and jelly. One night, we stayed in a cabin with a grill, so we bought some pork and veggies at the local grocery store and had a huge, hearty meal for only $9 per person.

Bonus supermarket

Bonus supermarket

To get a more details on what and where we ate, check out our post HERE.

LODGING

The cost of hotels is pretty normal compared to the United States. You can either stay at a hostel, where it’s really cheap, or stay at an average hotel where it will cost anywhere from $130 - $150 per night.

Airbnb loft in Reykjavik

Airbnb loft in Reykjavik

We chose to stay at family-owned hotels, cabins and Airbnbs. It averaged out to $130 per night. To get a full list of places we stayed at and how much they cost, click HERE.

TRANSPORTATION

Our flight to Iceland from Orlando, Florida, cost $677 on Delta Airlines. We originally wanted to fly from Tampa, but it would have cost us $1100 per ticket, so make sure you check nearby airports for cheaper flights. It might be worth driving that extra hour or two to get better prices.

Our awesome 4WD rental

Our awesome 4WD rental

Our rental car from Go Iceland cost $485 for 7 days with Collision Damage Waiver, which is highly recommended in Iceland. This was the cheapest car rental company I could find at the time and they were great. If you book a rental from Hertz or Budget, you’re looking at paying twice as much for a 4WD vehicle.

Speed limit on the Ring Road is generally 90 KM

Speed limit on the Ring Road is generally 90 KM

Gas prices were high, but we were prepared for this. Filling up half a tank on a 4WD vehicle cost about $50. In total, on a 7-day road trip around the country, it cost us $400 in gas.

There are also other means of transportation in Iceland like buses, tours and campers. These all range in price.

ENTERTAINMENT

Good news is most of the attractions in Iceland are FREE! You’ll have to pay for Blue Lagoon, museums and tours, but visiting the grand waterfalls, unique beaches and eerie abandoned sites are all free.

Seljalandsfoss waterfall

Seljalandsfoss waterfall

ADDITIONAL INFORMATION

These prices are all based on our trip in April 2016. Transportation and lodging will probably cost more during high seasons. To get additional information on Iceland, check out our blog posts below. Happy Travels!