Iceland Cost Breakdown

Every trip we take starts with a bargain. If the plane tickets are a great deal, we know we are starting from a place of financial responsibility. In the planning phase of each of our trips, we often wonder what we will end up spending before we are done.

This article is not only going to be about our trip around Iceland, but how much it costs to travel and the difficulties we faced along the way, which were either based on money or in the weather Or the lack of puffins, which was admittedly the most heart wrenching. Mostly though, we are going to break down our expenses so you have a good idea what similar trip to Iceland will cost you.

The costs for a trip to Iceland start with the plane tickets, or boat tickets if you have a lot of time. We saved some money on our flights by only using our carry on and personal item bags, and not bringing any check bags. Packing efficiently can really save you a lot of time, and hassle. We packed our drone, camera, clothes, toiletries, and a lot of food. We even purchased some fairly fluffy blankets that we brought back, all without check luggage. It can be done.

Our tickets were a bargain, which is why we pulled the trigger, so expect to pay more than we did, in general. We flew out of Detroit and into Keflavik. Keflavik is the international airport in Iceland.
Plane Tickets:
$913.74 for 3 people
$304.58 per person

Not a bad start, especially for the end of what passes for summer in Iceland. Our trip occurred in the middle of August, and the weather was mostly good, with a few patchy bits thrown in. The next expenditure to come was transportation. Our plan was to drive the Ring Road, which wends its way around the entire island, starting and ending at Reykjavik. So we decided to rent a car.

We went with a Mitsubishi Cross that had a rooftop tent, which we loved. We plan on purchasing one of our own eventually, it was that easy to use. The tent was quite comfortable, as there was a mattress inside and they provided us with a couple of pillows. There was an option to rent sleeping bags, but we decided to buy a couple of blankets instead, for roughly the same price. It also gave us a lot of mobility we would not have if we had made reservations that we had to stop at each night.

A car by itself would have been simpler and cheaper, but factoring in accommodations, we saved money. You should also consider 4x4 vehicles for Iceland. Some roads absolutely require 4 wheel drive and good clearance. If you are sticking to the paved Ring Road, you’ll be ok, but if you’re traveling the F-Roads, just get a 4x4. You may only need it once or twice, but you’ll drive 3 hours to find out you can’t get where you’re going without it.

F-Roads are roads into the interior of Iceland, into the mountains. The “F” stands for “Fjall”, which means “mountain” in Icelandic. They are mostly unpaved, occasionally there are large potholes, and sometimes river crossings with no bridge. Take them seriously.

Transportation with a tent and supplies:
$1731.35 for 9 days, 8 nights.
Overall Total: $2,645.09

We do not regret our choice of vehicle or tent, but the next time we would procure an enclosed camper van of some sort. The wind made sleep impossible on one of our nights and the cold on one other.

Camping Costs: $230.40
Overall Total: $2,875.49

After looking at what is usually the largest cost on a trip, accommodations, we decided to camp. Camping costs vary, but are far less than hotels or bed and breakfasts. Most of the campsites take payment through the Parka app or through online payment of some sort, though cash is common enough not to be rare. Some campsites only take cash though, so plan ahead.

Hotels, Airbnbs, and independent locations looked like they might cost upwards of $200 nightly, $150 if we were lucky. Campsites went for $20-$40 per night. An average site consisted of either open greenspace or divided spaces, and a building or two that might have restrooms, showers, laundry, and a common area for cooking or eating. Again, look ahead at the website, or reviews to see what is available at an individual site.

We could tell from the outset that this was going to be more than we were used to spending for our trips, but we did our research and we knew we had found fair, and more than fair, deals so far. We saved money on our next consideration, food, by bringing plenty with us.

Food Cost: $350
Overall Total: $3,225.49

We packed ramen noodles, that favorite of every college student, and instant oatmeal, crackers and some snack bars. When we arrived in Iceland we went grocery shopping and bought skyr, cheese, and bread. As the trip went on we bought more of the same and added lamb soup and hot dogs to our grocery list. There are plenty of grocery stores in Iceland, including Bonus, Kronen, and Hagkaup.

Because we had a camp stove and kitchen utensils that came with our car rental, we could make quick meals at our campsites and even at pull offs along the road.

There are restrictions as to what you can bring into Iceland as far as food is concerned, so check the Iceland government website before you pack. We brought packaged foods and had no issues.

Total Cost of gas: $462.70
Overall Total: $3,688.19

The car needed to eat as well and gas is expensive in Iceland. The price everywhere was 321 ISK per liter which translates to $8.86 per gallon for unleaded gasoline. We filled up seven times and drove 1,600 miles, or 2,523 kilometers. You pump your own gas in Iceland and stations are fairly common. You can pay at the pump and the dispenser of gasoline is green in Iceland, and diesel is black.

Total: $3,688.19

While we did spend money on other items such as post cards, blankets, and other sundries, and did some activities like whale watching($220 for all three of us), those are not necessary for a visit to Iceland and so we did not include them here. Hopefully this breakdown helps you plan your own adventures.

Happy Travels!