5 Cheap Greek Islands Near Mykonos To Visit in 2024

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Are you searching for islands close to Mykonos that won’t break the bank? I completely understand; I recently visited Mykonos and experienced its high costs firsthand.

Honestly, there are other Cycladic Islands near Mykonos that are not only more budget-friendly but also offer a great experience!

I consider myself an expert when it comes to visiting the Greek Islands since moving to Athens.

As a budget-conscious traveler, I made note of the Greek islands near Mykonos worth visiting.

Let me help you find the best islands that won’t break your travel budget this summer!

What Is The Cheapest & Closest Island to Mykonos?

If you’re on the hunt for the most wallet-friendly island near Mykonos, Naxos is your go-to choice.

A mere 40-minute ferry ride away, Naxos stood out in 2023 for its notably lower accommodation costs — roughly 40% to 70% more affordable than those in Mykonos.

Most Affordable & Best Islands Close To Mykonos

Folegandros
Ios
Naxos
Syros
Serifos

#1. Folegandros

A woman in a flowing white dress stands on a hillside pathway near a traditional stone wall on Folegandros, an affordable Greek island close to Mykonos. The background features a typical Cycladic landscape with white houses dotting the arid hills during golden hour. — Me in Folegandros

Distance from Mykonos

The Cycladic Greek Island of Folegandros is 53 nautical miles away from Mykonos.

You aren’t going to find a lot of nightlife in Folegandros, but it great island as an alternative for an authentic experience if Mykonos is too expensive.

Average Hotel Cost in Folegandros

When it comes to accommodation costs, Folegandros is generally more pocket-friendly.

Although its reputation as a quieter getaway is growing, the island remains less commercialized.

picture of the pool at the hotel in Folegandros at an affordable hotel

When I visited in July I paid considerably less for a hotel room in Folegandros compared to Mykonos.

While Mykonos boasts a range of luxury hotels reflecting its status as one of the most famous islands, Folegandros provides more modest accommodations at reasonable prices.

The interior of a hotel room in Folegandros, illustrating simple and elegant decor

Depending on the time of year and exact location, expect to find prices in Folegandros that are 20-40% less than those in Mykonos.

When I visited I stayed in the Chora at Polikandia Hotel Folegandros.

view of the pool, pink flowers and nearby hotels from the balcony of hotel polikandia. A less expensive choice than Mykonos — Polikandia Hotel Folegandros

This hotel had a swimming pool and a charming room with a very comfortable bed.

🛏️ Check Hotel Prices & Availability in Folegandros

Food & Drink Prices in Folegandros

A bowl of chickpeas with a glass of wine next to it, representing a typical meal in the region.

The average meal in Folegandros was under 25€ and that included 1 glass of local wine. A little bit more if I ordered an Aperol Spritz, which I often do ; )

If you opt for beer you will pay on average 4€ for that same beer that might cost you 10€ in Mykonos.

#2. Ios

"A woman in casual summer attire and a straw hat strolls along a stone pathway surrounded by vibrant cacti and blooming flowers. In the background, a serene Greek island landscape with a white-washed building boasting a covered patio under a clear blue sky is visible, highlighting the region's unique architecture and flora.

Panoramic view overlooking the harbor of Ios, Greece, with scattered white buildings nestled in the hilly landscape. The azure blue waters of the Aegean Sea create a calm bay, with boats moored in the marina and a ferry docked at the port. The foreground shows wild shrubs and plants typical of the Greek islands, thriving in the Mediterranean climate.

Distance from Mykonos

Ios is approximately 57 nautical miles from Mykonos. This distance is often covered by ferries connecting the two popular Greek islands in the Aegean Sea.

The journey between them can vary in duration depending on the type of ferry or boat service used.

Average Hotel Cost in Ios

Typically the room prices in Ios for a decent hotel are anywhere from $65 per night to $125 a night.

Twilight descends on a charming hotel in Ios, Greece, with an inviting pool area surrounded by a variety of lush cacti and succulents. The poolside loungers are ready to welcome guests under the shelter of rustic straw umbrellas, offering a serene spot to enjoy the cooling evening. In the background, the gentle slope of the island is adorned with white buildings, characteristic of the Cycladic architecture, against the soft gradient of a sunset sky.

My hotel was on the beach, so down from the Chora (old town) but within walking distance to the port.

I paid $89 a night when visiting in July. That is a great deal if you ask me!

If you want to check out the place I stayed at have a look at Corali Hotel

🛌 Check Rates & Availability for Ios Hotels

Food & Drink Prices in Ios

Eating out in Ios was pretty cheap! I did eat at a few nicer restaurants and found the prices to be much lower than I was expecting.

A gourmet appetizer beautifully presented on a white plate at a restaurant in Ios, Greece, with a focus on the vivid green avocado tartare accented with vibrant red radish slices. In the background, an array of accompaniments including olives, bread, and dipping oil, with a refreshing glass of water and a cocktail with a deep red hue, awaits on a neatly set table with a view.

The average Aperol Spritz, my drink of choice, was typically 8 euros. When it came to main dishes I found the prices to be under 20 euros per plate.

#3. Naxos

The flowers on the hill with the archaeological sites in Naxos in the background.

Distance To Naxos From Mykonos

Naxos is one of the closest islands to Mykonos. You can reach Mykonos from Naxos by ferry in just under an hour and a half.

If you’re hesitant about visiting alone, numerous tour companies offer day trips from Naxos to Mykonos, providing a convenient group travel option.

So rest assured if after reading about the prices of Mykonos it’s out of range you can still check it out by doing a day trip.

If you decide to remain in Naxos, consider taking the affordable Naxos bus tour that provides a comprehensive island exploration. The ticket price is quite reasonable, only $37!

Average Hotel Cost in Naxos

A solo woman traveling in Naxos coming up the stairs of the hotel

The main village of Naxos, while still a popular destination, with a laid-back and family-friendly vibe, has reasonable hotel prices.

A standard room in a mid-range hotel close to the beach might range from €60 to €120 during peak season.

More upscale or luxury accommodations near the beach can be found in the ballpark of €120 to €250, depending on the amenities and exact location.

A modern and minimalist hotel room in Serifos or Naxos, featuring a large comfortable bed with crisp white linens and patterned throw pillows. The room is decorated with monochromatic botanical prints on the wall, a rustic wooden wardrobe, and a simple wooden chair beside a petite vanity area, which contributes to the room's clean and airy ambiance. A small pendant light hangs above, adding a touch of industrial charm to the cozy space. — Nastasia Village Hotel

My favorite boutique hotel in Naxos is Nastasia Village Hotel.

Comparing that to how expensive it can be in Mykonos, Naxos is the island for me!

🛏️ Check Hotel Prices & Availability in Naxos

Food & Drink Prices in Naxos

A tranquil beachfront dining area in Naxos, set for a peaceful meal with a view of the calm sea. Wooden tables and chairs are neatly arranged under a wooden-beamed canopy, offering guests a place to enjoy the local cuisine while overlooking the serene waters. The atmosphere suggests a laid-back dining experience on one of the affordable Greek islands, with closed white umbrellas signaling a quiet time before the bustle of diners arrives.

Naxos has some great restaurants that don’t get enough credit.

Now, you might not get a three-course meal that deserves a Michelin star, but you will be happy.

The food is so authentic and fresh, that I consider Naxos one of the secret Greek islands for foodies.

#4. Syros

A woman in a flowing blue and white patterned dress walks confidently in front of the striking yellow and white facade of a neoclassical church with twin bell towers under a bright blue sky. Lush greenery and the vibrant colors of the national flag of Greece complement the historic architecture, creating a picturesque scene on the island of Syros.

Sunset view at a waterfront in Syros with artistic urban design featuring a series of metal arches over a curved glass bench. The bench reflects the warm tones of the sky at dusk, while seagulls perch atop the sleek, modern structure. In the distance, the silhouette of neoclassical buildings lines the calm harbor, contributing to a peaceful and picturesque evening atmosphere.

Distance to Syros from Mykonos

The distance from Mykonos to Syros is approximately 21 nautical miles.

This relatively short distance between the two Greek islands in the Cyclades group and its a popular route for ferry vessels in the Aegean Sea.

Average Hotel Cost in Syros

The hotel scene in the old town of Syros is very reasonably priced. To stay in the center of the old town and a chic boutique hotel I paid $130 per night.

I know there are cheaper rooms to be had, I was just looking last minute and fell in love with my hotel.

The very adorable boutique I stayed at is called, Shapes.

A neatly presented hotel room with a large bed featuring a tufted black headboard and crisp white bedding. Decorative pillows with traditional Greek patterns add a pop of color, while the white leather armchair offers a modern seating option. The room is bathed in natural light from a window dressed with sheer curtains, and a mounted flat-screen TV provides in-room entertainment, creating a comfortable and stylish accommodation space.

Food & Drink Prices in Syros

Syros is definitely still considered a hidden gem and I predict it will emerge as one of the hottest new islands to visit. As of now, you can still find some pretty reasonably priced meals.

I spent around 30 euros for an appetizer, fish entree, and 2 Aperol spritz. That’s a deal where I come from!

An elegant dining setting with Mediterranean cuisine served in a restaurant in Syros, Greece. The table features a hearty slice of grilled squash on a bed of creamy sauce, and a smooth potato purée topped with a succulent tomato. To the side, a tray with rustic bread and olive oil dip, complementing the dishes. The fine dining experience is accentuated by the neat placement of cutlery on a gray napkin and the simplicity of the glassware, inviting guests to a culinary journey.

#5. Serifos

View of the island of Serifos. A much less expensive island than Mykonos. — A View of Serifos

Distance To Serifos From Mykonos

Serifos is one of my favorite Greek Islands for solo females and budget-conscious travelers!

Serifos is approximately 52 nautical miles from Mykonos. With Serifos only 2 hours from Athens, it makes for a great island to visit if you are short on time.

Average Hotel Cost in Serifos

A picture of the view from the room at Petteo. You can see the ocean in the distance — View from my room at Petteo

Since Serifos is a lesser-known gem in the Cyclades chain within the Aegean Sea, you get the experience without the hefty price tags in Mykonos.

When considering beachside accommodation, the price largely depends on the type and location.

On average, a standard room in a guesthouse or a budget hotel near the beach can range from €50 to €100 per night during the peak summer months.

If you want boutique hotels or luxury apartments with beach views, you can expect prices to be in the range of €100 to €250 or possibly higher.

Pictures of the bed with a hat on top in folegandros

Many accommodations also provide amenities like balconies overlooking the Aegean’s crystal-clear waters, adding to the experience.

I stayed at Petteo for 150€ a night in August with a balcony and view of the Aegean Sea. In Mykonos, something this nice would easily have cost around 500€ per night.

🛏️ Check Hotel Prices & Availability in Serifos

Food & Drink Prices in Serifos

sunset and boats in the water while looking out from the table and chairs in serifos.

Many of the restaurants in Serifos are along with port with tables just feet from the Aegean Sea!

An experience like this in Mykonos would be wildly expensive, here in Serifos you could pay as low as 30€ including alcohol, appetizer, and entree.

The Most Budget-Friendly Time To Visit The Greek Islands

For the budget-conscious travelers out there, I highly recommend you visit any of these Greek islands at the start or the end of the busy season.

Ideally the middle of May through June, and the middle of September till the 1st week of October.

The prices for hotels and ferry tickets will be much lower than the prime summer season of July and August.

Final Thoughts On Affordable Islands Close to Mykonos

The Greek Islands are truly more affordable than people think. They read stories about how crazy expensive Mykonos and Santorini are and throw in the towel on Greek Islands in general.

When you do your research and make a travel budget, it can all be within reach!