A coastal town with colorful buildings, a large body of water, and snow-capped mountains in the background.

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Our top choices for Reykjavik cheap hotels

A modern waiting area with a sofa, chairs, a wooden table, and a large window providing a view of the street.

1. Old Town Reykjavik

Old Town Reykjavik
3.0 star property
Downtown Reykjavik
7.4 out of 10, Good, (331 reviews)
"I loved my stay here! The location in the heart of the Old Town is amazing, and you can easily walk to all the beautiful sights. The rooms were spotless and the atmosphere was so warm and cozy."
Canada
Tatiana
The price is NT$2,268
NT$2,729 total
includes taxes & fees
Dec 9 - Dec 10
Old Town Reykjavik
Bar (on property)

2. KEX Hotel and Hostel Reykjavik

KEX Hotel and Hostel Reykjavik
2.0 star property
Downtown Reykjavik
8.6 out of 10, Excellent, (1,004 reviews)
"Loved my stay here"
United States
Stephanie
The price is NT$3,219
NT$3,785 total
includes taxes & fees
Nov 16 - Nov 17
KEX Hotel and Hostel Reykjavik
A modern interior with a large window, a potted plant, and leather seating.

3. Hotel Von

Hotel Von
3.5 star property
Downtown Reykjavik
9.2 out of 10, Wonderful, (1,003 reviews)
"Lovely stay overall"
Canada
teagan
The price is NT$5,186
NT$5,969 total
includes taxes & fees
Nov 17 - Nov 18
Hotel Von
A building with multiple windows and a tower with a spire.

4. Hostel B47

Hostel B47
2.0 star property
Downtown Reykjavik
8.4 out of 10, Very good, (323 reviews)
"Great place for hostel."
United States
Thomas
The price is NT$2,514
NT$3,002 total
includes taxes & fees
Nov 17 - Nov 18
Hostel B47
A spacious indoor seating area with leather couches and chairs, large windows offering a view of the street outside.

5. Bus Hostel Reykjavik

Bus Hostel Reykjavik
3.0 star property
Hlíðar
8.2 out of 10, Very good, (356 reviews)
"Check in was easy but location is about a 20 min walk into downtown. Great location for tour pick ups and to main bus station from airport if you don’t mind walking 10 minutes. Bathrooms were always clean. Good access to kitchen and appliances if you plan in cooking rather than constantly eating out . Laundry system was broken at the time."
United States
Keyerria
The price is NT$2,544
NT$3,103 total
includes taxes & fees
Dec 12 - Dec 13
Bus Hostel Reykjavik
A two-story house with a red roof and multiple windows, set against a night sky with visible aurora borealis.

6. Refurinn Reykjavik Guesthouse - Hostel

Refurinn Reykjavik Guesthouse - Hostel
2.0 star property
Vesturbær
9.0 out of 10, Wonderful, (44 reviews)
"It's very clean and the kitchen is well equipped! They offer some food which is very nice. You need to go around to find parking lot."
United States
Justina
The price is NT$2,744
NT$3,258 total
includes taxes & fees
Nov 25 - Nov 26
Refurinn Reykjavik Guesthouse - Hostel
A building with multiple windows and a flat roof, under a night sky with green aurora lights.

7. Hostel Fjordur

Hostel Fjordur
1.0 star property
Hafnarfjörður
8.6 out of 10, Excellent, (17 reviews)
"Wonderful stay ! Love the layout on different floors, availability of amenities, comfortable rooms and location"
United States
Kanchan
The price is NT$2,434
NT$2,914 total
includes taxes & fees
Nov 29 - Nov 30
Hostel Fjordur
A buffet with various food items and beverages.

8. Start Hostel

Start Hostel
2.0 star property
Reykjanesbær
9.4 out of 10, Exceptional, (538 reviews)
"Stayed with family of five. Great location, awesome breakfast, super helpful staff. Would stay here again."
Canada
Jessica
The price is NT$4,216
NT$4,892 total
includes taxes & fees
Nov 17 - Nov 18
Start Hostel
A hallway with paintings on the walls, a wooden door, and a desk with a bird sculpture.

9. ASTIN ER SVARID HOSTEL

ASTIN ER SVARID HOSTEL
1.0 star property
Keflavík
7.2 out of 10, Good, (5 reviews)
"Room was clean, close to airport"
Canada
Darren
The price is NT$4,510
NT$5,219 total
includes taxes & fees
Nov 29 - Nov 30
ASTIN ER SVARID HOSTEL
Lowest nightly price found within the past 24 hours based on a 1 night stay for 2 adults. Prices and availability subject to change. Additional terms may apply.
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Top Reykjavik Hotel Reviews

Hotel Odinsve

Hotel Odinsve

8/10 Good
"Quirky rooms, great breakfast with fresh warm bread from the bakery, great location. Onlydownside was hot water from the tap.took about 10 mins to run through.. otherwise excellent"
Karen 3-night trip
Posted less than an hour ago
Hotel Odinsve

Frequently asked questions

What is Reykjavik like for travelers on a budget?
Reykjavik offers cheap accommodation options and a variety of places to visit, making it a great choice for a budget-friendly getaway. In addition to its well-known attractions like Reykjavik Harbour, this destination is home to Reykjavik Pond and Oskjuhlid Hill, which you can enjoy while spending very little.
What's the best budget-friendly accommodation in Reykjavik?
Based on reviews, Old Town Reykjavik is a popular hotel for our travelers in search of a less expensive place to stay and offers free WiFi. Other options for your budget-friendly stay include KEX Hotel and Hostel Reykjavik and Hotel Von.
How many inexpensive hotels will I find in Reykjavik?
Expedia has 13 hotels in Reykjavik that are ideal if you are watching your pennies.
When is the best time for a budget trip to Reykjavik?
Weather is probably a major factor when you plan your trip to Reykjavik, and keep in mind that cheaper options are usually available when the weather isn't as good. The hottest months are usually July and August with an average temp of 50°F, while the coldest months are December and January with an average of 32°F. Average annual precipitation for Reykjavik is 50 inches.
What is there to see and do in Reykjavik?
Reykjavik attracts visitors with its top museums and abundant cafes, and offers plenty to see and do without spending a fortune. You can budget for the top local attractions that interest you most, such as Reykjavik Harbour, and then look for sights and activities that cost little or nothing at all. If you're looking to enjoy the area's natural beauty, you can get outdoors at Reykjavik Pond, Oskjuhlid Hill, or Nautholsvik Geothermal Beach.
How can I get to Reykjavik and get around on a budget?
Scoping out the transportation options in Reykjavik is a smart way to keep your trip affordable. The closest airport is 1.2 mi (2 km) away from the center in Reykjavik Domestic Airport (RKV). However, if that doesn't suit your budget, you can book a flight to Reykjavik–Keflavik Intl. Airport (KEF), located 23.2 mi (37.3 km) away. Reykjavik might not have very many public transportation choices so a car rental could be a reasonable alternative to see more of the area.

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