Renting a small flat in downtown Reykjavik using AirBnB was quite reasonable (I think around 95 USD/night).
Car rental, gasoline, and food were all pricey. If you drink, check the rules for Duty Free at KEF - I believe it's local tax AND duty free, so you can buy when you arrive and carry into the country for much less than buying elsewhere. We didn't bother as we were only planning to drink a few bottles of wine.
Car rental, gasoline, and food were all pricey. If you drink, check the rules for Duty Free at KEF - I believe it's local tax AND duty free, so you can buy when you arrive and carry into the country for much less than buying elsewhere. We didn't bother as we were only planning to drink a few bottles of wine.