Prices in Iceland: How Much Does it Really Cost?
Tips on how to travel in Iceland on a budget
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Traveling to Iceland can be expensive, but good food doesn’t have to be.
Iceland’s capital city is full of trendy world-class eateries. But each dollar spent on a nice glass of wine and small-portion meals could also be spent on traveling the countryside, whale watching, or lounging in a geothermal spa.
Save a dollar or two for your next adventure. There are plenty of delicious destinations and cheap places to eat in Reykjavik serving up real-cheap, real-good grub. After all, tasty food doesn’t need to be fancy!
Heavy on flavor and light on the wallet, here are our favorite places to get cheap food in Reykjavik for 1,000 ISK ($10).
The granddaddy of Reykjavik's cheap eats and the most famous food stop in Iceland, Bæjarins Beztu Pylsur is legendary!
The name translates to “the best hot dogs in town” and anyone who has eaten there will back up that claim. The classic Icelandic hot dogs are boiled in beer and topped with ketchup, sweet mustard, fried and raw onions, and a tangy remolaði (mayo-based sweet relish). Grab yourself a single hot dog and a Coke for 700 ISK, or go all out and grab two dogs and a Coke for just over 1,000 ISK. Make sure to ask for “the works” to get a hot dog topped with everything.
Bæjarins Beztu Pylsur is open every day from 10 a.m. to 1 a.m. It stays open late till 4:30 a.m. on Friday and Saturday nights. Expect a line — these dogs are well worth the wait.
Taste the legend at Tryggvagata 1, 101 Reykjavík.
Taste the real Iceland at the appropriately named Icelandic Street Food.
This little restaurant is known for hearty, home-cooked, full-on Scandanavian food straight from grandma’s kitchen. Freshly-baked massive bread bowls filled with thick soups in a help-yourself setting will cost you 1,390 ISK — a little over our budget, but very worth it. You’ll leave this friendly family-run business feeling full, warm, and happy. Try the Happy Marriage Cake, just try it…
This small place can fill up quickly. Icelandic Street Food is open every day from 9 a.m. to 11 p.m.
Taste old-school Icelandic cooking at Lækjargata 8, 101 Reykjavík.
Once a secret, the family-owned Noodle Station is now considered one of the best cheap restaurants in Reykjavik.
Specializing in authentic Asian soup, Noodle Station offers three simple varieties: beef, chicken, and vegetable. All are made according to a secret family recipe passed down from generation to generation. Exactly what you need on a cold Icelandic day, a bowl of noodle-stuffed vegetable soup costs 960 ISK.
Grab a bowl of Thai noodle soup from 11 a.m. to 10 p.m. Monday through Friday and from 12 p.m. to 10 p.m. on the weekend.
Slurp it down at their original location at Laugavegur 103, 101 Reykjavík.
Chow down on cheap, greasy, calorie-laden, late-night sandwiches at Hlöllabátar!
This is the last stop for many pub-goers before hitting the sack. Hlöllabátar offers some of the best submarine sandwiches in Reykjavik. Better yet, they’re located smack dab in the middle of downtown. Their hard-hitting subs go for 950 to 1,150 ISK, but the price goes up the more meat you add. They also offer less extravagant sandwiches for 600 to 800 ISK.
Open from 10 a.m. to 2 a.m. every day and open as late as 5:30 a.m. on Friday and Saturday nights, Hlöllabátar is worth a stop after a couple (or several) local beers.
Stumble over and feast at Ingólfstorg, 101 Reykjavík.
If you’re not a fan of Hlöllabátar, then you have to be a Nonnabiti lover. The rivalry is real!
While their sandwiches not as soaking wet with grease as the other famous sub shop, Nonnabiti is another late-night satisfying stop. Subs here are a little more expensive, from 1,599 ISK to as much as 2,299 ISK. They also offer solid cheeseburgers for 1,099 ISK, a ham sandwich for 999 ISK, and piping hot fries for 499 ISK.
Try a sub Monday through Friday from 11 a.m. to 2 a.m. and as late as 5:30 a.m. on Saturday night. Nonnabiti is closed on Sunday.
Take a side in the after-hours Reykjavik sandwich war at Hafnarstræti 9, 101 Reykjavík.
Mandi provides real-deal Middle Eastern fare in the center of Reykjavik. Locals love this small, authentic eatery!
Serving up legit kebabs, falafel, and hummus, Mandi is the place to go if you’re craving something different. They have plenty of cheap starters, like hummus and falafel bowls for 650 ISK. Kebabs, falafel pitas, and Arias Maria (Lebanese stuffed pitas with fries) are a bit more costly starting at 1,100 ISK, but they’re still some of the best quality, bang-for-your-buck lunch options in Reykjavik.
Mandi is open from 10 a.m. to 2 a.m. Monday through Thursday and open until 6 a.m. on Friday and Saturday nights. Sunday they’re open from 11 a.m. until 2 a.m.
Get down on some falafel at 3 b, Veltusund, 101 Reykjavík.
Funky, eclectic, and easy to spot, Café Babalú is a Reykjavik landmark in its own right.
Sit on the second-floor terrace for a cup of coffee and drink in the charming, artistic, and slightly chaotic decor. Café Babalú is known for its crepes, soups, and sandwiches. Grab a sweet crepe filled with chocolate, bananas, sugar and lemon, or berries for 1,090 ISK. Or snack on a grilled cheese with a side salad or corn chips for the same price. Also, be sure to try their bomb cheesecake for a cool 1,090 ISK.
A fun breakfast or lunch (aka brunch) stop, Café Babalú is open every day from 8 a.m. to 10:30 p.m.
You can’t miss this bright yellow café at Skólavörðustígur 22, 101 Reykjavík.
It’s important to try native fast food wherever you travel. Aktu Taktu sports burgers, fries, Coke, and soft serve ice cream packed in the familiar fast food colors of red and yellow — and turquoise.
All summer long, this chain has been offering a burger and Coke special for exactly 999 ISK. Throw fries on for an extra 299 ISK. Keep an eye out for daily meal deals like Tuesday’s burger, fries, and Coke special for 1,000 ISK. They also have a vegan-approved burger topped with fried mushrooms, onions, BBQ sauce, and “vegan cheese” for 1,000 ISK. It’s cheap, it’s fast, and it’s food.
There are a few Aktu Taktus to choose from in Reykjavik. They’re usually open from 8 a.m. to 12 a.m. On Fridays and Saturdays they’re open until 4 a.m.
Hit the drive-thru at the seaside location at Skúlagata 15, 101 Reykjavík, Iceland.
Every list of cheap, good food spots needs a pizzeria. The Deli in Reykjavik doesn’t disappoint.
Slicing up great pizzas alongside pasta and baguette grinders, this is Reykjavik’s time-tested go-to stop for Italian. A slice of pie goes for 550 ISK and two slices are only 985 ISK. They also have six different paninis going for 1,190 ISK each. Great za at a great price!
The Deli is open Monday through Thursdays from 11 a.m. to 9 p.m. and is open late until 5 a.m. on Fridays and Saturdays. On Sundays they are closed.
Grab a slice or two at Bankastræti 14, 101 Reykjavík.
This trendy french fry shop fries up some of the best taters you'll ever have. And the sauces? The sauces are nuts!
Reykjavík Chips is a simple place with great fries and amazing sauces. They rock 11 sauces in total, from Samurai chili mayo to Buffy garlic sauce and Hannibal pickle sauce. A small fry is 750 ISK, and with a Coke it’s 950 ISK. You should probably just get the large, though, for 1,050 ISK.
The fryer’s on everyday at 11:30 a.m. and stays open until 10 p.m. Monday through Friday and until 11 p.m. on Saturday and Sunday.
Get your Reykjavik chips, fries, or spuds fix at Vitastíg 10, 101 Reykjavík.
Got a sweet tooth? Vöffluvagninn (The Waffle Van) needs to be on your Reykjavik must-do list!
Vöffluvagninn serves, hands down, the best Belgian-style waffles you’ll ever have in your life. Be sure to grab a crispy hot treat from this yellow food trailer while walking the streets of downtown Reykjavik. Enjoy a waffle smothered the popular way in fresh whipped cream and jam. Every waffle on the menu falls between 590 to 890 ISK. Dessert done right!
Follow the smell to Vöffluvagninn any day from 11 a.m. to 7 p.m. You may even catch them open late on the weekends during Iceland’s busier months.
Find the food truck parked at Frakkastígur 27, 101 Reykjavík.
One last thing…
Nothing goes better with cheap food than cheap drinks!
Many of the pubs, bars, and cheap restaurants in Reykjavik have a Happy Hour every now and then. Download the AppyHour app from the Apple App Store or Google Play for current and up-to-date information on the best bar deals in Reykjavik.
Stay in the know and save some dough!
In Reykjavik for a short layover? Strap on a day tour from Reykjavik and spice up your adventures in Iceland!