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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
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.
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.
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.
This hotel had a swimming pool and a charming room with a very comfortable bed.
Food & Drink Prices in Folegandros
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.
Distance from Mykonos
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.
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
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.
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.
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
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.
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!
Food & Drink Prices in Naxos
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.
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.
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!
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
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.
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.
Food & Drink Prices 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!
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