How much does a day in Reykjavik cost?

About $122 on a lean budget, $266 mid-range and $554 in comfort, per person per day as of November 12, 2026, excluding international flights. These are modeled estimates: the national figure (Iceland), updated daily, scaled by a city premium.

Is Reykjavik expensive compared with the rest of the country (Iceland)?

Reykjavik costs about the same as the national average (Iceland), which is $266 a day mid-range. The base for nearly every trip; prices are high everywhere in Iceland, not just here.

Is Reykjavik cheaper to visit than last year?

The exchange rate moved −2.6% for US-dollar holders over twelve months while local prices (Iceland) rose +5.4%, a real change of −4.4%. City prices broadly follow the country.

When is the best time to visit Reykjavik for lower prices?

Iceland: the shoulder months, with workable weather and lower prices, are May, September. Peak season is June, July, August.

The US State Department rates Iceland at Level 1: Normal precautions. Country-wide levels can hide large differences between cities and regions, so read the full advisory.

Reykjavik

The base for nearly every trip; prices are high everywhere in Iceland, not just here.

A day in Reykjavik

$266

Lean: $122
Comfort: $554

Real change, 12 months

−4.4%

Slightly pricier. Tracks the country as a whole (Iceland).

Against the rest of the country (Iceland)

About the same as the national figure of $266 a day.

The short answerIn US dollars, as of November 12, 2026

Reykjavik: as of November 12, 2026, a mid-range day costs about $266 per person, excluding flights, which is about the same as the national average (Iceland). For US-dollar travelers it is 4.4% more expensive than a year ago after inflation, in line with the country as a whole. The base for nearly every trip; prices are high everywhere in Iceland, not just here.

Official per diem

For business travel, the US State Department allows up to $549 a day here: $338 for lodging and $211 for meals and incidentals. It is a ceiling, usually well above what an independent traveler spends. All per diem rates for Iceland

What your money buys in Iceland

Exchange rates and inflation are national, so the city follows this line. The dashed line is the exchange rate alone; the solid line is after inflation.

Nov 12, 2026After inflation 83.5Exchange rate only 87.7

Index, start of window = 100. Above 100 your money buys more in Iceland than it did then; below, less. Hover or drag for any month.

Reykjavik, in five questions

City costs are the national model scaled by a premium of 0% that we set by hand. To cite: “Trip Arbitrage (triparbitrage.com), reading of November 12, 2026.”

How much does a day in Reykjavik cost?: About $122 on a lean budget, $266 mid-range and $554 in comfort, per person per day as of November 12, 2026, excluding international flights. These are modeled estimates: the national figure (Iceland), updated daily, scaled by a city premium.
Is Reykjavik expensive compared with the rest of the country (Iceland)?: Reykjavik costs about the same as the national average (Iceland), which is $266 a day mid-range. The base for nearly every trip; prices are high everywhere in Iceland, not just here.
Is Reykjavik cheaper to visit than last year?: The exchange rate moved −2.6% for US-dollar holders over twelve months while local prices (Iceland) rose +5.4%, a real change of −4.4%. City prices broadly follow the country.
When is the best time to visit Reykjavik for lower prices?: Iceland: the shoulder months, with workable weather and lower prices, are May, September. Peak season is June, July, August.
Is Reykjavik safe?: The US State Department rates Iceland at Level 1: Normal precautions. Country-wide levels can hide large differences between cities and regions, so read the full advisory.

Booking a trip: Reykjavik

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Other cities

The short answerIn US dollars, as of November 12, 2026