Budget Breakdown: 7 Days in Iceland

I’ve had a few friends request this subject for a post. So here it is, y’all. Full disclosure about how much we really spent on our honeymoon.

Airfare:

$559 per person

  • $155 for Houston to Boston (this includes one checked bag)
  • $404 for Boston to Iceland (this includes one checked bag, plus seat selection)

Lodging:

$603 for 7 nights

  • All lodging was done through Airbnb

Car Rental:

$256 for 7 days

  • We rented a Chevy Spark through Sixt at Keflavik Airport
  • We paid an extra daily fee for unlimited mileage (otherwise you’re limited to 600km in the rental, we put 2000km on the car), it was roughly $9/day

Gas:

$130

  • We used two full tanks of gas during our trip, it was about $65 to fill a full tank/$6 per gallon (thankfully our Chevy Spark got amazing gas mileage!)

Food:

This one widely varies according to your “food philosophy,” what people don’t tell you about Iceland is how expensive everything is. Meals that we are used to paying $10-15 for in the U.S. can easily run you about $30-40 in Iceland. So your best bet for budget eating is:

  • Buying food at the local grocery store (Bónus was our favorite store, look for the drunken piggy bank logo, you’ll know it when you see it)
  • Sharing a pizza with your adventure buddy ($25-30 for one pizza, so split between two people it’s decent)
  • Eating hot dogs ($3-4) at the local gas station diner (we ate a lot of hot dogs in Iceland and we’re ok with that)

Activities:

Luckily, entrance to all historical and natural sites, such as Þingvellir, Geysir, Gullfoss, Seljalandsfoss, Skogafoss, Reynisfjara, etc. is FREE! There were days when we didn’t spend any money on activities, and it was great. That being said, there are some great experiences and expeditions you can partake in that are paid activities. We did a few, and I highly recommend them.

Souvenirs:

We didn’t buy a lot in the way of souvenirs and trinkets since we were trying to be frugal, but we picked up a few goodies.

  • Postcards (I collect them) were about $1 each everywhere we shopped for them
  • Icelandic chocolate bars were $6-8, we got a few for ourselves and our family
  • Icelandic wool socks were $10+, Matt got a pair with horses on them
  • Lopapeysa (traditional Icelandic sweaters) were super pricey but I HAD to have one. If you are looking to buy one, do not even think about shopping for them in Reykjavik at the touristy shops. They run about $30-50 more expensive in the city. I found a little shop next to a gas station outside of Höfn that had the best prices. I bought an adorable lopapeysa sweater with sheep on it for about $140. I know that’s still not cheap, but when in Iceland… I adore wool sweaters and had been wanting an Icelandic one long before we even decided on this trip.

Hope this helps any of you who are trying to plan a trip to the Land of the Midnight Sun!

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