Grilled Icelandic lamb ribs and salad
We have talked about the best time to visit Iceland and other tips, its time to address cheap restaurants in Reykjavik. The best cheap eats in Iceland’s capital that allow you to do Iceland on a budget.
Iceland, which boasts waterfalls, glaciers, active volcanoes, ancient mountains, black beaches, and geysers draws huge number of international tourists every year to have the adventure of their lives.
Before packing bags and reserving hotel rooms to stay for the upcoming adventures, everyone wants to know just how expensive Iceland really is and how to eat in Iceland cheaply. Especially in Reykjavik on a budget, so as to save money to experience other wonders of Iceland.
According to Numbeo’s Cost of Living Index, Iceland currently ranks as the third most expensive country in the world, and only staying in hotels is 10-32% expensive in Reykjavik as compared to other Nordic capitals.
The prices of lodging and restaurants exceed the EU average by whopping 44%. Keeping in mind the expensiveness of hotels and restaurants in Iceland, especially in Reykjavik, we have compiled a list of some of the best restaurants serving delicious and inexpensive food.
So if you have been trying to figure out where to eat in Reykjavik on a budget, then this post is especially for you! From quick and easy take away in Reykavik, seafood grills in Reykjavik, to exotic delights from Vietnam and Pakistan.
Reykjavik High Street
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Cheap Restaurants And Cheapest Places To Eat In Reykjavik
Best value restaurants in Reykjavik may not be plentiful but there are there. Particularly if you are looking for the best cheap eats in Reykjavik not only offering healthy meals but also delicious too. Also within a reasonable price compared to Icelandic price points.
The cost of eating out in Iceland can rack up quickly if you are not careful with and don’t do enough research. The list below is intended to give you an idea of what to expect in terms of food and drink prices in Iceland. Where possible I have also included the prices but provided links to the restaurants and cafes below where you can have a look at the menu in more detail.
Note: For other takeaway options on the cheap in Reykjavik you also have Dominos Pizza.
1. Fish And Chips Vagninn
There is nothing like a full day with lots of walking and then visiting maritime museums featuring codfish to make you hungry for some delicious fish and chips. When it is the lovely evening, just spread out your blanket on the grass and have some of the best fish and chips of your life, 1790Kr which is about £10.21, good value compared to other places in Iceland at Fish and Chips Vagninn and among cheap places to eat in Reykjavik.
A can of drink costs £1.50 to go with your chips. Their fish is of utmost quality cod from the clean waters of Iceland and is extremely reasonable and light on pocket. This fish heaven is located at the Vesturbugt of Reykjavik’s main harbor, just off the shipyard, with timings from 11 a.m. to 9 p.m.
2. Reykjavik Chips
Hope to Reyjavik Chips to have the best chips in town. With their wide range of chips with a wide range of dips to choose such as sweet mustard, peanut satay, chili mayo and much more, they are inexpensive and provides a large serving of chips. Their chips are crispy, seasoned to perfection and moist. The place is a little small and their prices start from as low as £4.63.
Not but at all for a reasonably priced lunch in Reykavik of if looking for where to each cheap in Reykjavik then check this place out. Its also centrally located. They are located at Vitastigur 10, Reykjavik 101 and usually opens from 11:30 am till10:00 pmpm.
3. Subway
Cheap eats in Reykjavik don’t get any better than this place in terms of well-known brands. Nothing more than the best, old Subway. As we know food is rather expensive in Iceland, but visiting Subway can help average out your daily food costs.
Their food is freshly made in a clean kitchen. Their staff is extremely nice and their prices are reasonable. Their 12-inch sub is just £10.88, as compared to other places in Reykjavik, this price is a steal. They offer both vegan and non-vegan options. They are located at Bankastraeti 14, Reykjavik 101.
4. Saegrifinn
One of the best places for seafood in Reykjavik. A family-owned seafood restaurant by the old harbor in Reykjavik, Saegrifinn is specialized in seafood, soups and Scandinavian cuisine. They are renowned for their under the budget delicious servings of various seafood items such as trout, salmon, shrimp, cod, scallops, redfish catfish and many more.
The interior is designed with historical details and information about Reykjavik, providing a warm setting with an amazing service of delicious seafood. You can have delicious soup with lots of fish in as low as £18. They are located at Geirsgata 8, Reykjavik and their opening times are from 11:30 am till 10:00 pm.
Lobster soup in Reykjavik
5. Mai Thai
Looking for options for eating in Iceland on a budget? Then add this to your list. A quick hop off the “Hip On – Hope Off Bys” at Stop#7 – Laugavegur Shopping Street, you’ll find this gem of a Thai restaurant with their delicious Thai food items. A family-owned restaurant, you’ll feel the passion of the chefs behind every bite. Cheap food in Iceland with a slice of character.
This restaurant is run by 4 extremely polite ladies. Only 45 at a time can sit at their restaurant and is usually always cramped. They are specialized in Thai and Asian cuisine, with vegan and gluten free options available. They are located at Laugavegi 116, Reykjavik 105 and usually opens from 11:00 am till 8:30 pm.
6. PHO Vietnamese Restaurant
Got the urge to try some Asian food that is delicious and yet light on budget during your trip to Reykjavik? Then look no further than PHO Vietnamese Restaurant. They are specialized in Asian cooking with a combination of great chefs and top-quality traditional recipes.
They serve both Asian and Vietnamese traditional dishes, with vegan, gluten and vegetarian-friendly options. Totally forget about the cost of eating in Iceland with the very pocke friendly places of Pho at this Reykjavik Restaurant. They open at 12:00 am on weekdays. They are located at Sudurlandsbraut 8, Reykjavik 108 and their prices start at as low as £6.57.
7. Metro
When it comes to food in Iceland, especially fast food, it is usually expensive to the point of making one unable to afford it. But there are some places where not only quality fast food is served, but they are a lot cheaper in prices as well. Metro is one of those places. With their American fast food menu and famous finger chips, they are some of the best dining fast food options to remain in budget.
Easy menus as well as offering one of the best cheap places to eat in Reykjavik with healthy options too. The prices are shown below showcasing some of the budget food options they have. They are located at Sudurlandsbraut 5, Reykjavik and usually open from 11:00 am to 10:00 pm.
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Nýtt á matseðli… Græna línan á Metro er hollur og góður kostur sem kemur öllum í gott skap.
8. Shamlimar
If you are looking for an Indian restaurant in Reykavik then check out Shamlimar. Enjoy one of the best and authentic South Asian restaurants with their Indian, Asian and Pakistani specialized delicious food delicacies. Their menu is Vegetarian-friendly and gluten-free, with available vegan and halal options.
With their mouth-watering menu, their staff are extremely friendly and provide awesome recommendation in case you’re new to Indian or Pakistani cuisine, also don’t miss out on their naan. Another one among cheap restaurants in Reykjavik Iceland offering value for money. They are located at Austurstraeti 4, Reykjavik 101 and other 3 more places, and their prices start from as low as £19.40.
9. Austurlanda Hraolestin
Finding a great restaurant that serves amazing Indian cuisine and is light on the budget is really hard in Iceland. Austurlanda Hraolestin, situated below-ground level in an unassuming building, is primarily geared towards takeaway customers but there is a very pleasant seating area for people who wish to dine in.
They feature some of the most delicious Indian cuisine items such as chicken tandoori, korma, madras, tikka masala and many more, with just a starting price of £7.44. Their wide range of starters such as onion pakoda with coriander chutney starting from just £2.46 is highly recommended. Another great option for those looking for an Indian restaurant in Reykjavik. They are located at Laekjargotu 8 Reykjavik, 101.
10. Baejarins Beztu Pylsu
Baejarins Beztu Pylsu, meaning “The best hot dog in town”, is a popular hot dog stand in central Reykjavik. Doing justice with the meaning of their name, they were selected by The Guardian as the best hot dog stand in Europe, which you might not want to miss out on. Not only they serve the best hot dogs in the whole Europe with all kinds of toppings, they are also very budget-friendly, starting from as low as £2.30.
They serve hot dogs with toppings such as mayonnaise, mustard, Icelandic mustard onions, bacon, and a soda. So if you are trying to do Iceland on a budget then this is one of the best cheap places to eat in Reykjavik. They are located at Tryggvagata 1, Reykjavik 101 and opening times are from 10:00 am to 02:00 am.
11. Nudluskinn & Noddlestation
Looking for delicious hot food to warm you up, while also eating in Reykjavik on a budget? The best chicken noodle soup joint in town, Noddlestation serves not only the delicious Asian chicken soup but they are also inexpensive. Their servings are delicious and filling with spiciness customized according to the customer.
You can have a delicious chicken noodle soup in just £14. They have a little seating for dine-in customers so you’ve to be extra vigilant to get your seat. They are located at Laugavegur 103, Reykjavik 101 and their timings are from 11:00 am till 10:00 pm.
Additional Ways To Save Money In Iceland
- Rememeber you also have to option to self care in Iceland. We used Airbnb in Iceland as well, which gave us the options to cook for ourselves. You can buy your own groceries in Iceland at Bonus supermarket or Netta.
- Another way to save money in Iceland is by exploring via the free walking tour in Iceland.
- As I mentioned above you also have the option of ordering in some days via Dominos Pizza.
Planning Your Visit To Reykjavik And The Rest Of Iceland
- Search for the best flight deals to Iceland on Expedia
- Read my tips on the best areas to stay in Reykavik – From budget hotels to luxe hotels and apartments.
- If using Airbnb, read my tips on using Airbnb plus how to get your discount code.
- If visiting from outside Europe, make sure you get tips on the best travel accessories to pack when visiting Europe.
- Plan what to pack for Iceland, include tips on the best thermal layers you need for both summer or winter months. Also, get tips on the best gloves or jackets, shoes, needed to stay warm in Iceland.
- If going beyond Reykjavik, find out why exploring the Ring Road is best experienced by Campervan, you can also read about my tips on finding the cheapest rental campervan companies in Iceland.
- Never travel without travel insurance, make sure your flights, gadgets and health are protected should the unfortunate happen.
- Book your tours and adventures around Iceland.
- For something different and unique also check out the experiences offered by this Viking Farm Hotel.
- Start the count down and enjoy your trip! (Feel free to brag about your trip when your return in the comments below 🙂)
So, there you have it, the best cheap places to eat in Reykavik. Yes, Iceland can be expensive but hopefully, with the above options I have shared about, I have proved that there are indeed cheap restaurants in Reykjavik serving up delicious and budget-friendly cheap eats that will not burn a hole in your pocket. And if you are a big fan of breakfast and brunch then make sure you look out for my post on the best cafes to check out in Iceland.
Also See
- Top Tips For Visiting The Blue Lagoon
- Best Souvenirs To Bring Back From Iceland
- Exploring The Glacier Lagoon
- Why The Iceland Lava Fields Are A Must See
- The Best Waterfalls In Iceland
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