14 Local Spots for the Best Cheap Eats in Reykjavik

Reykjavik may be known as a pricey city, but that doesn’t mean you need to starve.

If you’re looking for the best cheap eats in the Icelandic capital, we’ve got the inside scoop on all of the best local spots.

With our budget-friendly tips, you can explore the local cuisine without breaking the bank – places that are addictively delicious and they don’t drain your wallet!

So come join us as we dive deep into Reykjavik’s delicious cheap eats scene.

1. Bæjarins Beztu Pylsur

If you’re looking for a fast and cheap snack in Reykjavik, Bæjarins Beztu Pylsur is a must-try.

This small hot dog chain offers satisfying combinations of lamb, beef, and pork hot dogs served with a bun and five different condiments to choose from.

You can’t go wrong with any of the delicious options available – plus it won’t break the bank either, with one hot dog at about $3.50!

Address: Tryggvagata 1, 101 Reykjavík, Iceland

Famous Hot Dog at Baejarins Beztu Pylsur
Famous Hot Dog Photo by Baejarins Beztu Pylsur

2. Zorbian

If your wallet is light but you’re craving a classic Syrian feast, Zorbian is calling your name.
Home to delicious dishes like Zorbian Fish and Chips, a 12″ Lobster Pizza, Lamb Burgers and their beloved Zorbian Falafel, there’s something for everyone at this Reykjavik eatery.

We’re talking a filling meal for around 10 USD – nothing like having delicious food without the guilt. Let’s just say, if you don’t eat at Zorbian, you’ve missed out big time.

Address: Hringbraut 109, 101 Reykjavík, Iceland

3. Messinn

Get ready for the catch of the day at Messinn, a seafood restaurant located in the heart of Reykjavik. Start off your meal by ordering the star dish of the restaurant, Humarsúpa, a cream cognac lobster soup.

Then move onto the Plokkfiskur Med Bearnaiseosu, a beautifully cooked stewed cod with a delectable bearnaise sauce, which is a must-try.

While it might not be the cheapest way to go, it’s still an amazing value as the most expensive dish clocks in at around 30 USD.

So if you’re in Reykjavik with a hankering for some seafood, do yourself an ocean of favors and head to Messinn!

Address: Lækjargata 6, 101 Reykjavík, Iceland

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4. Aktu Taktu

Located in Reykjavik, Aktu Taktu is like the local version of McDonald’s, the American fast food joint.For those looking for cheap eats, this eatery is the perfect solution.

Yes, it may not be Michelin-star quality, but with their signature “Di Amerikan Drim” combo, they definitely don’t skimp on flavor! You’ll get a burger, drink and side of fries for under 20 USD. Not too bad a deal!

Address: Skúlagata 15, 101 Reykjavík, Iceland

Neapolitan Pizza at Hlemmur Matholl Reykjavik 1
Neapolitan Pizza Photo by Hlemmur Matholl Reykjavik

5. Hlemmur Mathöll

Reykjavík is home to the first food hall in Iceland, Hlemmur Mathöll, and it’s easy on the wallet! Inside this once-former bus terminal, you can find an array of delicious eats from across the globe.

Whether its tacos from Fuego or a classic Neapolitan pizza from Flatley Pizza, you’ll be sure to leave your stomach and wallet filled.

For something a little more luxurious, Kröst has got you covered with their selection of fine wines and cured meats.If you’re in need of a sweet treat afterwards, Gelato Gaeta serves authentic Italian gelato.

Address: Laugavegur 107, 105 Reykjavík, Iceland

6. Noodle Station

If you’re looking for a true taste of Thailand that won’t break the bank, Noodle Station is your go-to destination. To the delight (and envy!) of tastebuds everywhere, this family joint serves up some truly delectable noodle soups.

Whether you opt for their classic chicken, beef or veggie option, one thing’s for sure – it will leave you wanting seconds!

Address: Laugavegur 103, 101 Reykjavík, Iceland

7. Krua Thai

Take a bite out of Reykjavik’s best cheap eats and check out Krua Thai – a menu complete with a dizzying array of spicy and delicious Thai options.

Whether it’s classic dishes like Pad Thai, Tempura, or Panang you’re hankering for, this eatery has you covered.

And no matter how last-minute your cravings are, there’s no need to worry; just make sure you bring your appetite – they happily accept walk-ins. Friendly service is always on the menu at Krua Thai – it even comes free of charge.

Address: Skólavörðustígur 21, 101 Reykjavík, Iceland


MANDI is a family-run Syrian restaurant and a city favorite, boasting dishes from just 5-15 USD. With plenty of variety and even vegan options, everyone can enjoy Middle Eastern cuisine without breaking the bank.

You won’t need to worry about missing out either – it’s open late until 2am most nights, and 6am on weekends!

Address: Veltusund 3b, 101 Reykjavík, Iceland

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9. Icelandic Street Food

Whether you’re a tourist wanting to get a taste of Iceland for the first time, or a local searching for cheap eats, Icelandic Street Food is the perfect spot.This unique eatery does fast food like none other, Icelandic-style.

Their menu is simple and delicious – from classic soups in bread bowls to fish stew with rye bread, it’s all guaranteed to leave your belly full and happy.

And for a special touch of Iceland, try out their hjonabandssæla cake (literally translates to “Marriage Bliss”).

Address: Lækjargata 8, 101 Reykjavík, Iceland

10. Brauð & Co

Craving some pocket-friendly grub in Reykjavik? Let Brauð & Co be your savior! This artisan bakery is not only known for its spectacularly soft sourdough bread and delicious pastries, but its colorful outdoor mural and Instagrammable interior add to the bakery’s charm.

Take a bite out of their freshly baked cinnamon buns or go wild with pretzel croissants – you won’t regret it!

Their rye bread taste even better smothered in Icelandic butter and finished with specialty salt. If that doesn’t get your mouth watering, we don’t know what will.

Address: 16 Frakkastígur, 101 Reykjavík, Iceland

11. Grandi Mathöll

Grandi Matholl is a street-food hall for those on the hunt for cheap eats in Reykjavik.
Situated in the city’s Old Harbour, this reputable food spot offers an impressive mix of Icelandic, Vietnamese and other creative dishes to suit any craving.

Prices may vary throughout the food hall but, overall, it’s an affordable way to satisfy your hunger.

Address: Grandagarður 16 101, 101 Reykjavík, Iceland

12. Hlöllabátar

Hlöllabátar is a place that slings subs and burgers that are to die for without making you reach for your wallet in another life. Every option under the sun can be found here, ranging from basic sandwiches to more fully-loaded ones.

And just like their variety, the prices come in all shapes and sizes – the more filling, the more it’ll cost.

Address: Bústaðavegur 20 105, 105 Reykjavík, Iceland

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13. Reykjavík Chips

Reykjavik Chips is a little joint that is famous for its french fries, served with an array of unusual and delicious sauces.

Whether you’re looking for a snack while sightseeing or a quick lunch on the go, it’s definitely worth stopping at Reykjavik Chips.

Address: Vitastígur 10, 101 Reykjavík, Iceland

14. 101 Reykjavik Street Food

Forget the wallet-draining restaurants; if you’re in Reykjavik hoping to get a scrumptious meal without going bankrupt, look no further than 101 Reykjavik Street Food.

This hot spot is every traveler’s dream come true! Pick from a grand selection of noodle or seafood soups, fish & chips, and the ever-so-popular traditional fish stew.

But let’s not forget the star of the show: Grandma Meat Soup. The huge portion sizes will have you grinning from ear to ear!

Address: Skólavörðustígur 8, 101 Reykjavík, Iceland