vs
Madridis 40% cheaper — BDI "Pricey" (30/10) vs Reykjavik "Pricey" (18/10). Dorms avg $35/night vs $50/night.
Quick Verdict
Best For…
Traveler type
🇪🇸 Madrid
🇮🇸 Reykjavik
Solo budget traveler
★★★★★
20 hostels, avg 9.2 rating
★★★★★
5 hostels, avg 9.3 rating
Couple on a budget
★★★★★
Private rooms avg $149/night
★★★★★
Private rooms avg $130/night
Digital nomad
★★★★★
Coffee $2.98, dorms avg $35
★★★★★
Coffee $6.10, dorms avg $50
Nightlife seeker
★★★★★
Beer $4.13, 20 hostels
★★★★★
Beer $12.40, 5 hostels
First-time Europer
★★★★★
25 attractions
★★★★★
21 attractions
Cost Comparison
Daily Budget
| Tier | 🇪🇸 Madrid | 🇮🇸 Reykjavik | You Save / day |
|---|---|---|---|
Shoestring Dorm bed · street food · free activities | $48 cheaper | $80 | $32/day |
Comfortable Mix of dorm & private · restaurants | $75 cheaper | $134 | $59/day |
Flashpacker Private rooms · dining out · some tours | $117 cheaper | $199 | $82/day |
Price Intelligence
Seasonal Price Curve
Everyday Costs
Cost of Living
| Item | 🇪🇸 Madrid | 🇮🇸 Reykjavik |
|---|---|---|
| 🥙Street food meal Local market, street stall | $17.68 38% less | $28.46 |
| 🍽️Mid-range meal Sit-down restaurant, one person | $35.37 42% less | $60.98 |
| 🍺Beer (local draft) 500ml at a bar | $4.13 67% less | $12.40 |
| ☕Coffee Espresso or flat white | $2.98 51% less | $6.10 |
| 🚇Single metro / bus Standard single ticket | $1.77 68% less | $5.45 |
Brokepackr Deal Index™
Our Verdict + Hostel Quality
🇪🇸▼
Madrid
Spain
30
BDI: Pricey
Brokepackr Deal Index™
Higher dorm prices (avg $35/night).
Hostel Quality
Avg guest rating8.5
Top-rated hostelOnefam Sungate (9.9)
Annual dorm avg$35/night
Total hostels20
🇮🇸▼
Reykjavik
Iceland
18
BDI: Pricey
Brokepackr Deal Index™
Higher dorm prices (avg $50/night).
Hostel Quality
Avg guest rating8.5
Top-rated hostelNordic Hostel (9.7)
Annual dorm avg$50/night
Total hostels5
Entry Requirements
Visa & Entry
Passport
🇪🇸 Madrid
🇮🇸 Reykjavik
🇪🇺 EU / EEA
Visa Free (90d)
Visa Free (90d)
🇺🇸 US
Visa Free (90d)
Visa Free (90d)
🇬🇧 UK
Visa Free (90d)
Visa Free (90d)
🇦🇺 Australia
Visa Free (90d)
Visa Free (90d)
🇨🇦 Canada
Visa Free (90d)
Visa Free (90d)
Flights
Getting There
City to City
Getting Between Madrid & Reykjavik
Climate
Weather & Best Time to Visit
°C · mm
🇪🇸 Madrid
15°C
High
/
5°C
Low
🌧 Rainfall: 47mm/month
Best months: Mar, Apr, May, Jun
🇮🇸 Reykjavik
4°C
High
/
-2°C
Low
🌧 Rainfall: 118mm/month
Best months: Mar
Things To Do
Top Attractions
🇪🇸 Madrid
1. Monumento a Claudio MoyanoFree
2. Museo Casa de la MonedaFree
3. National Archaeological Museum of SpainFree
4. Homenaje a las víctimas españolas que muri…Free
5. Monumento a José Calvo SoteloFree
🇮🇸 Reykjavik
No attraction data
Common Questions
FAQ
Is Madrid or Reykjavik cheaper for backpackers?+
How many hostels are in Madrid vs Reykjavik?+
Do I need a visa for Madrid or Reykjavik?+
When is the best time to visit Madrid or Reykjavik?+
What's the cheapest month to visit Madrid and Reykjavik?+
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