Where to base yourself
The two classic Jungfrau bases, 25 minutes apart and genuinely different in character. Neither is objectively better, here is an honest comparison to match the base to the trip you want.
Grindelwald is the larger, livelier town: more hotels and restaurants, evening life, an open bowl with the Eiger constantly in view, and the fastest access to Jungfraujoch via the Eiger Express. Lauterbrunnen is the quieter, dramatic waterfall valley: smaller, cheaper, fewer dining options, deeper and steeper-sided, with the easiest access to the Schilthorn and a fairytale character that Grindelwald cannot match. Choose Grindelwald for buzz and views; choose Lauterbrunnen for peace and price.
Because the valley is deep and narrow, it gets less sun on the floor and can feel gloomy or foggy on a bad day, whereas Grindelwald's open setting feels brighter. If big open mountain panoramas from your hotel window are the priority, Grindelwald (or staying up in Wengen or Mürren) may suit you better. If you want the waterfalls, the quiet and the value, Lauterbrunnen is hard to beat.
They are 25 minutes apart, so many people base in one and day-trip to the other. If you only stay one place, decide by the feeling you want in the evening: lively town, or quiet valley.
Common questions
Neither is objectively better. Grindelwald is larger with more restaurants, nightlife, open views and faster Jungfraujoch access; Lauterbrunnen is quieter, cheaper, more dramatic, and closer to the Schilthorn. Choose by whether you want buzz or peace.
Lauterbrunnen is generally cheaper for comparable accommodation, particularly off-season. Grindelwald has more upscale hotels and tends to cost more.
Grindelwald sits in an open bowl with the Eiger north face constantly in view; Lauterbrunnen's views are of the waterfalls and steep valley walls. Grindelwald is brighter; Lauterbrunnen is more dramatic but can feel gloomy in poor weather.
About 25 minutes by car or train, so it is easy to base in one and visit the other on a day trip.
An apartment and two studios on the Lauterbrunnen valley floor, steps from the village, with waterfall views and (in The Apartment) a private wood-fired hot tub.