Quick answer: Reykjavik runs about EUR 190 per day mid-range - noticeably less if you eat local and walk. Cheapest window: June-August for midnight sun and easiest driving, September-March for northern lights - shoulder months May and September balance both.
What things actually cost
| cappuccino in a cafe | 5 EUR |
| draft beer (0.5l) in a bar | 9-10 EUR |
| hot dog with everything | 5 EUR |
| local swimming pool entry | 9 EUR |
| Sky Lagoon basic entry | 60-70 EUR |
| mid-range dinner main | 28-40 EUR |
Eat well for little
- Hot dog at Baejarins Beztu Pylsurthe famous stand near the harbour, order one with everything for about 5 EUR
- Lamb soup (kjotsupa)hearty and everywhere in winter, about 18-22 EUR a bowl
- Plokkfiskurcreamy mashed fish and potato comfort food, around 22-28 EUR in a mid-range restaurant
- Fish and chips at the Old Harbourfresh cod or haddock, about 20-25 EUR
- Skyr from any supermarketthick Icelandic dairy, a 1-2 EUR high-protein breakfast that saves real money
Money mistakes to avoid
- Buying bottled waterIcelandic tap water is excellent, carry a bottle and refill everywhere
- Booking Blue Lagoon or Sky Lagoon on arrival day without checking flight times - slots sell out and tickets are date-fixed, book online days ahead
- Underestimating weather changespack a waterproof shell and layers even in July, tours run in rain and wind
- Doing all drinking in barsalcohol is heavily taxed, buy at the airport duty-free on arrival like locals do and use happy hours (many bars post them in the Appy Hour app)
Transport without the tourist tax
Keflavik airport is 50 minutes from the city - the Flybus or Airport Direct shuttle costs about 25-32 EUR each way, versus roughly 130-160 EUR for a taxi. The center is easily walkable, and yellow Straeto city buses cost about 4 EUR per ride; rent a car only for the days you leave the city.
Planning the full trip? Start with the 4-day Reykjavik itinerary.