The town was named after Patrick bishop in the Hebrides who was the spiritual guide of Örlygur Hrappson, the original settler in the area who came from the Hebrides.

Amenities include a swimming pool, bank, campsite, four guesthouses, a hotel, two restaurants, two cafes and a gas station.

Eagle Air connects Bíldudalur and Reykjavík with one daily flight.

There are scheduled buses from Patreksfjörður to Bíldudalur Airport.

The bus also connects Patreksfjörður with nearby villages Bíldudalur and Tálknafjörður.