Yes, Ögmundarhraun is worth adding when your Reykjanes day has room for a rough lava-field stop with Húshólmi history nearby. It is weaker as a rushed extra between timed plans.
Ögmundarhraun sits on the south side of the Reykjanes Peninsula, where moss-covered lava spreads between low volcanic ridges, the Krýsuvík area, and the coast near Selatangar. It does not behave like a single famous viewpoint. The reward is the texture of the landscape and the sense that older settlement traces, rough lava, and coastal travel all overlap here.
Add Ögmundarhraun for self-drive travelers who already plan to move between Kleifarvatn, Grænavatn, and Selatangar. Skip it when Blue Lagoon timing, airport logistics, western Reykjanes stops, or poor visibility already make the day tight.
The best public value of this stop is choice. If the south-Reykjanes drive is flowing well, Ögmundarhraun adds a quieter volcanic layer. If the weather, road guidance, or group energy is working against you, the stop is easy to leave for another trip.