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Iceland Cost of Living 2026
๐ฎ๐ธ Prices in Iceland are based on Reykjavik. Not the exchange rate โ how cheap it feels on your own income, and where a price becomes a rip-off. Updated October 2026
Cities in Iceland compared
| City | Per day | Per month | Local meal | Coffee |
|---|---|---|---|---|
| ๐ฎ๐ธ ReykjavikTourist ยท mid-size | $429 | $9,124 | kr3,200 | kr750 |
Per day = one mid-range night + three meals, a coffee and two taxi rides. Open a city for item-by-item prices, rip-off thresholds and live traveler reports.
Everyday prices in Iceland
| City | Beer | 5 km taxi | Hotel night | Massage |
|---|---|---|---|---|
| ๐ฎ๐ธ Reykjavik | kr1,500 | kr3,500 | kr25,000 | kr18,000 |
Iceland vs nearby countries
| Country | Per day | Per month | vs Iceland |
|---|---|---|---|
| ๐ฆ๐น Austria | $323 | $5,073 | -25% |
| ๐ณ๐ด Norway | $329 | $5,744 | -23% |
| ๐ฎ๐ช Ireland | $340 | $7,237 | -21% |
| ๐ณ๐ฑ Netherlands | $341 | $6,720 | -20% |
| ๐ฑ๐บ Luxembourg | $345 | $7,647 | -20% |
| ๐ฉ๐ฐ Denmark | $385 | $6,813 | -10% |
| ๐ฎ๐ธ Iceland | $429 | $9,124 | this country |
| ๐จ๐ญ Switzerland | $511 | $8,890 | +19% |
Countries in the same region with a similar daily travel budget. Tap a country for its city-by-city prices.
Reykjavik vs New York: item by item
| Item | Reykjavik | New York | Diff |
|---|---|---|---|
| Local meal | kr3,200โ $26.5 | $20 | +33% |
| Coffee | kr750โ $6.22 | $6 | +4% |
| Beer | kr1,500โ $12.4 | $9 | +38% |
| 5 km taxi | kr3,500โ $29 | $23 | +26% |
| Hotel night | kr25,000โ $207 | $270 | -23% |
| 1-bed rent | kr260,000โ $2,157 | $3,300 | -35% |
Same purchase in both cities, converted to US dollars. Daily travel budget: Reykjavik $429 vs New York $467 โ about 8% cheaper.
Compare Iceland with other cities
Iceland travel difficulty
| City | Overall | Rip-offs | Language | Transport | Payments | Safety |
|---|---|---|---|---|---|---|
| Reykjavik | Very easy 1.2 | 1 | 1 | 2 | 1 | 1 |
Rip-offs, language, getting around, payments and safety, 1โ5 (closer to 1 is easier). Tap a city for reasons and tips. Full difficulty ranking โบ
City guides
FAQ
How much is a daily travel budget in Iceland?
In Reykjavik, about $429 a day with a mid-range room. Hostels and local eateries cut that by 30% or more.
How much does a month in Iceland cost?
In Reykjavik, short-term rental plus living costs come to about $9,124 a month.
Which city in Iceland is cheapest?
Reykjavik runs about $429 a day.
Which nearby country is cheaper than Iceland?
Among countries in the same region with similar budgets, Austria runs about $323 a day โ 25% less than Iceland (about $429).
Is Iceland cheaper than New York?
In Reykjavik, a traveler's day runs about $429 versus $467 in New York โ roughly 8% cheaper. The gap differs by item, so meals, coffee, taxis and hotels are listed separately above.