Looking to visit Iceland but don’t want to break the bank? Worry no more, we are here to guide you to all the cheapest but good restaurants in Reykjavik and give you the best tips to save money on food and drinks while in Iceland. Take note!

Keep in mind that the prices in Iceland are always the final price, there is no tax or tip to be added.

cheap eats in reykjavik, Cheap Eats in Reykjavik | Top 11 List

Noodle Station

The Noodle Station has been in business for a while and it’s truly a local favorite. Their Thai noodle soup with vegetables is also available for a price below 1000 ISK (8,5 USD) which truly is a rare find in Iceland. The soup with beef or chicken comes in around 1600 ISK (13 USD).

Bæjarins Beztu

The most famous hot dogs in the world? At least in Europe! Grab an Icelandic-style hot dog with all the local toppings; ketchup, Icelandic sweet mustard, deep fried onion, fresh onion and a mayo/sweet relish blend that is to die for. In Icelandic, we call this “ein með öllu” or one with everything. The price for one is about 500 ISK or about 4 USD.

cheap eats in reykjavik, Cheap Eats in Reykjavik | Top 11 List

The Bæjarins Beztu hot dog stand is located downtown near Austurvöllur and shouldn’t be difficult to find as there is usually a line. Even with the line, it is still the perfect place to catch a quick bite to eat.

Bakeries

Icelanders are experts at crafting baked goods and bread that will have you missing Iceland as soon as your airplane takes off. You can go to any of the local bakeries and choose a sandwich or bun and have the servers put butter, cheese and ham on it for you for a good price. About 500-1000 ISK (4-8 USD).

cheap eats in reykjavik, Cheap Eats in Reykjavik | Top 11 List

But be sure to check out the pastries too. The Icelandic baked goodies you need to try are kleinur (donuts), snudur (cinnamon buns) and vinarbraud (Danish pastry)!

Svarta Kaffid

Soup in a breadbowl for 1950 ISK (16 USD) and not just any soup, the owners are the type of people who really focus on their cooking and put their heart and soul into it. Svarta kaffid is one of the cheaper places to eat at if you are looking for a nice place to sit down at but not blow your budget. A stop at Svarta Kaffid is always a great one!

Reykjavik Chips

Tucked away on a side street of the main Laugavegur you will find the colorful Reykjavik Chips. Their secret is found in the name, simply the best chips in Reykjavik. And by chips, we mean French fries (like fish and chips). Their sauce selection is otherworldly!

Reykjavik Chips is also an excellent stop for vegans. They will cater to your needs.

Their prices are super fair, ranging from 750 ISK (6 USD) to 1350 ISK (11 USD) for the family.

Mandi

Mandi may be a surprising find in Reykjavík as it offers authentic Syrian food (Middle Eastern). The owners moved from Syria to Reykjavík a few years back and since opening have become a local favorite for Middle Eastern treats. They offer fair prices and great variety for vegans!

cheap eats in reykjavik, Cheap Eats in Reykjavik | Top 11 List

Dishes start at 550 ISK (5 USD) and the most expensive is 1700 ISK (14 USD)!

Dominos on Tuesdays

Tuesday is the cheapest day out of the week to have some delicious comfort food in Iceland. Because every Tuesday you can order a medium size pizza with three toppings for only 1000 ISK (8 USD).  Just remember, this deal is for pick-up only!

cheap eats in reykjavik, Cheap Eats in Reykjavik | Top 11 List

Hlöllabátar

If you ask about juicy subs, Hlöllabátar and Nonnabiti are the two answers the locals will give. These subs are known to cure even the toughest of hangovers. The only problem is that people tend to take sides. Some love Nonnabiti, others love Hlöllabátar, there’s no two ways about it!  

Personally, I prefer Hlöllabátar because their prices are actually lower. Their subs range from 1450 (12 USD) to 1650 ISK (13,5 USD).

Ramen Momo

Who doesn’t love a good Ramen? Well, this one provides some heavenly comforts!

Check out Ramen Momo during lunchtime because they have a great lunch offer; 1890 ISK (16 USD) for any bowl you want plus a side. Ramen Momo is located close to the Old Reykjavik Harbour where travelers meet up for Whale Watching Tours so it is an excellent option before or after a tour. Pro-tip: you can receive a special discount for take away orders if you bring your own container.

GOTT

This yummy and healthy restaurant originally opened up in Westman Islands but has since opened up another one in downtown Reykjavík. They make everything from scratch from amazing ingredients but still the price is very fair. This is where you if you want to eat in a lovely atmosphere, with a nice decor and get quality food for a decent price.

cheap eats in reykjavik, Cheap Eats in Reykjavik | Top 11 List

I recommend their Spicy Noodle Soup 1890 ISK (15,5 USD) and their GOTT Chicken burger with a sweet potato and salad, 2590 ISK (21,5 USD)

Icelandic Street Food

This is your stop if you are looking to try authentic Icelandic food but still keep your budget. You really can’t beat their prices for the quality and yumminess they offer. They charge only 1500 ISK (12,5 USD) for their breakfast buffet which offers Icelandic Skyr, waffles, salmon, serrano, granola, pastries, fruits, soup, coffee, tea and so much more!

cheap eats in reykjavik, Cheap Eats in Reykjavik | Top 11 List

Cheap Eat / Drink Tips for Iceland

  • Nova/Síminn – Offers from Phone Companies

If you get a sim card from Nova or Síminn you can download their apps and in the app find amazing offers.

  • Know your Tuesday offers

We were not kidding when we said Tuesdays are the cheapest. Icelanders even have a whole website dedicated to the offers available on Tuesdays. The only catch is that you might need to hire a translator or simply run text through Google Translate.

  • Get the Appy Hour App

If there ever was a great way for travelers on a budget to do Happy Hour it was this app! The Appy Hour App is literally designed to help you find the cheapest drink at Happy Hour and is a great way to try some local craft beer. Because one thing is for sure, there is plenty of it!

  • Buy alcohol at the airport upon arrival

The tax for any alcoholic drink in Iceland is ridiculously high which can really hit your wallet hard if you’d like to enjoy an ice cold brew or a cocktail. But, fear not, the solution to this problem is to buy your alcohol at the airport, where it is tax-free. In addtion to the classic international offering, you can also buy authentic Icelandic liquors and locals beers.

cheap eats in reykjavik, Cheap Eats in Reykjavik | Top 11 List

Ragnheidur Harpa Haraldsdottir

Ragnheiður studied Anthropology with a minor in Media so it might not come as much of a surprise that she is curious in nature. She loves educating others about her findings or her home country, Iceland. Ragnheiður is into country living, traveling, Icelandic horses, the Icelandic naming system, plants and all things having to do with food and beer. Her favorite places are the Westfjords and the South Coast but she has lived in downtown Reykjavík for the last couple of years.