There is a wide variety of hotels/hostels/guesthouses in Reykjavik with a wide range in quality and cost. We recommend hotels in the 101, 105 or 104 area codes if you want to stay close to the festival site. A variety of different hotels, hostels and guesthouses are also available as parts of our package deals through Festicket.
Reykjavik has an abundance of AirBNBs available. You can take a look here.
There is a relatively strong couch surfing scene in Iceland so if you‘re feeling adventurous or just want to get to know some locals it could be a good option for you. You can take a look here.