Is it cheaper to visit in the summer?

Yes, summer avoids the cost of heavy gear and winter-specific car rentals, but demand for accommodation is much higher, which can offset your savings.

Do I really need to spend $300 on a jacket?

If you are venturing outside of city centers, yes. The wind chill in northern latitudes is not comparable to standard cold weather. Cheap gear will fail, potentially leading to hypothermia.

Hidden costs of traveling to northern latitudes

Traveling to northern latitudes like Iceland, Scandinavia, or the Arctic requires budgeting for extreme weather gear and specialized transportation that aren't typical in warmer climates. Expect to pay a 25% premium for fuel, high-quality insulation, and last-minute guided excursions required for safety.

Calculate technical gear costs. Don't assume your current coat is enough. You need windproof, waterproof layers rated for sub-zero temperatures. Budget $300–$500 for a quality parkas and insulated boots if you don't already own them.
Account for winter fuel surcharges. Rental car companies in the north charge extra for mandatory winter tires and heavy-duty battery maintenance. Add $20–$30 per day to your car rental estimate beyond the base rate.
Budget for 'daylight-adjusted' activities. In winter, sunlight is limited to 4–5 hours. You cannot 'walk around' to save money; you must pay for guided tours or specialized transport to access sights during these narrow windows.
Prioritize high-calorie food budgets. Your body burns more calories staying warm. Fresh produce is often imported at a high cost, while high-calorie, shelf-stable comfort food is the budget staple. Plan to spend at least $60 per day on food.

Is it cheaper to visit in the summer?: Yes, summer avoids the cost of heavy gear and winter-specific car rentals, but demand for accommodation is much higher, which can offset your savings.
Do I really need to spend $300 on a jacket?: If you are venturing outside of city centers, yes. The wind chill in northern latitudes is not comparable to standard cold weather. Cheap gear will fail, potentially leading to hypothermia.