Fossvellir is inland from the farm Mælifell and was a small crofter ́s parcel. The first settler was Björn Guðmundsson of Torfastaðir; permission to settle there is dated April 11th 1861. In the parish census that fall Björn is the farmer there. Fossvellir was the last of seven farms settled in the fifty years marking the settlement of Almenningur and the loss of grazing rights for the church at Hof. Björn paid two sheep to rent the land. The farm was not used after Björn ́s death in 1864 and his widow, Ólöf Arngrímsdóttir released the farm in 1865.