Lake Hólmavatn on Hólmavatnsheiði, is together with Lake Laxárdalsvatn, named Sólheimavötn after a nearby farm to which they belong. Hólmavatn is about 1 km² in size and at about 190 m above sea level. There is good fishing in the lake. Both brown trout and Arctic char can be found there, although the char stocks are declining. A common size of fish is 1-2 pounds.