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COST Of Living In MADRID Spain 2024 [Expat Budget Guide]

Cost of living in Madrid Spain

Cost of living in Madrid Spain Introduction

Hey Friends! The Cost Of Living In Madrid Spain makes it possible to Live For $1,577 – $5,637 (€1,387 – 4,782) Per Month. For a strict Budget vs a Luxury Budget.

Madrid, Spain is a beautiful city with a rich history and culture. It is also a relatively affordable city to live in, and the cost of living in Madrid is much lower than in many other European capitals.

If you are thinking about moving to Madrid, Spain, or if you are already living there and you want to make the most of your budget, this article is definitely for you. We will provide you with practical insights, extensive research, and personal experiences to help you make the most of your budget while enjoying everything Madrid has to offer.

In this article, we will cover the following topics:

  • A comprehensive breakdown of expenses and an in-depth analysis of the cost of living in Madrid, covering housing, transportation, utilities, gym memberships, food, entertainment, and health insurance.
  • A list of unique local rental websites and Local and Expat, Digital Nomad Facebook groups that will assist you in finding affordable accommodations in Madrid.
  • Reliable and up-to-date sources of information for living in Madrid, including data on the country, tourism boards, and more.

Whether you are a digital nomad, expat, student, retiree, or simply curious about life in Madrid, our guide has everything you need to maximize your budget and enjoy this wonderful city to the fullest.

What you’ll get

In this article, you will learn:

  • How much it costs to live in Madrid
  • Where to find affordable accommodations in Madrid
  • How to save money on essential expenses like housing, transportation, food, and healthcare
  • How to make the most of your budget and enjoy everything Madrid has to offer
  • in depth practical insights on everything about the cost of living in Madrid

How it will help you

This article will help you:

  • Maximize your budget and enjoy everything Madrid has to offer
  • Find affordable accommodations and make a smooth transition to life in Madrid
  • Discover amazing outdoor and nature activities available in the country
  • Get reliable and up-to-date information about living in Madrid
  • Save money on essential expenses like housing, transportation, food, healthcare and more.
  • Make the most of your budget and live a comfortable life in this beautiful city.
  • Help you to Not Get scammed
  • We will also help you Maximize your budget that fits within $1,577 – $5,637 (€1,387 – 4,782) Per Month.

With a range of expenses estimated Cost Of Living in Madrid Spain is between $1,577 – $5,637 (€1,387 – 4,782) Per Month!

Here are 10 reasons why you should consider moving to Madrid Spain:

  1. Cost of Living In Madrid Spain: The Average monthly cost of living, including rent, utilities, food, and transportation, ranges from $1,577 – $5,637 (€1,387 – 4,782) Per Month.
  2. Affordable Cost of Living and High Quality of life: The cost of living in Madrid is much lower than in many other European cities, making it a great option for budget-minded expats.
  3. Rich History and Culture: Madrid is a city with a rich history and culture, dating back to the Roman Empire. There are many historical landmarks and museums to explore and a vibrant arts and culture scene.
  4. Excellent Weather: Madrid enjoys a mild Mediterranean climate, with warm summers and cool winters. This makes it a great place to live if you’re looking for a city with a pleasant climate.
  5. Friendly People: The Spanish (Spaniards) people of Madrid are known for being friendly and welcoming. This makes it easy to make friends and feel at home in the city.
  6. Great Food: Madrid has a diverse culinary scene, with something to offer everyone. You can find everything from traditional Spanish tapas to international cuisine.
  7. Convenient Transportation: Madrid has a well-developed public transportation system, making it easy to get around the city. There are also many bike lanes and walking paths, making it a great city for getting around without a car.
  8. Central Location: Madrid is located in the heart of Spain, making it a great base for exploring the rest of the country. There are many direct train and bus connections to other major cities in Spain and other European countries.
  9. Amazing expat and digital nomad communities: Madrid is a popular destination for expats and digital nomads worldwide. There are many resources available to help you make the move, and you’ll be sure to find a community of like-minded people to connect with.
  10. Madrid is a great option if you’re looking for a beautiful, affordable, and culturally rich city to call home. With its warm weather, delicious food, friendly people, and rich culture, Madrid is a city that has something to offer everyone.

Table Of Contents

Table of Contents hide

Cost Of Living in Madrid Spain Quick Facts Key Takeaways

Cost of living in Madrid Spain Quick Facts

Here are some quick facts about the cost of living in Madrid Spain:

  •  Here’s a breakdown of some key expenses: Total Monthly Living Costs in Madrid Spain ranges from $1,577 – $5,637 (€1,387 – 4,782) Per Month. For all expenses, and if you budget smartly, you can expect to spend $1500 to $3020 per month for all expenses.
  • Madrid is times cheaper than New York City, New York.
  • A monthly income of around $2,200 USD / €2,100 EUR is enough to live well in Madrid.
  • The cost of living in Madrid varies depending on your budget. To maintain the same standard of life as in New York City, New York for per month, you would need an estimated in Madrid.
  • On average, the cost of living in Madrid is 67.4% cheaper than in New York City, New York.
  • On average, rent in Madrid is 67.4% cheaper than in New York City, New York.
  • The cost of rent for a studio in Madrid ranges from 660 USD (505 EUR) – 1,100 USD (825 EUR) per month.
  • A budget food and grocery plan in Madrid will cost around 330 USD (247.5 EUR) – 440 USD (330 EUR) per month.
  • The estimated monthly cost for a family of four in Madrid is 3,300 USD (2,475 EUR) – 4,400 USD (3,300 EUR).
  • The estimated monthly cost for a single person in Madrid is 1,100 USD (825 EUR) – 1,650 USD (1,237.5 EUR).
  • Monthly Public Transportation costs in Madrid are estimated to be 55 USD (41.25 EUR) – 110 USD (82.5 EUR) per month.
  • Expats and digital nomads may spend more, from $1500 – $3000 per month, to maintain their living standards in Madrid we spent $1,512 – $2,642 per month.
  • You can definitely live for less in Madrid if you are willing to make some sacrifices.
  • Madrid is the capital of Spain and the third-largest city in the European Union.
  • The city has a population of over 3.2 million people.
  • Madrid is a major center for business, finance, culture, and tourism.
  • The city is home to many world-renowned landmarks, including the Royal Palace, the Prado Museum, and the Retiro Park.
  • Madrid has a Mediterranean climate with warm, dry summers and mild winters.
  • The average temperature in Madrid in January is 10 degrees Celsius (50 degrees Fahrenheit) and the average temperature in July is 27 degrees Celsius (81 degrees Fahrenheit).
  • The official language of Madrid is Spanish.
  • The currency of Madrid is the euro.
  • Madrid is a great city to live, work, and visit. It has something to offer everyone, from its rich history and culture to its vibrant nightlife and delicious food.
  • Madrid is located in the center of the Iberian Peninsula, at an altitude of about 667 meters (2,188 feet) above sea level.
  • The city is divided into 21 districts, each with its own unique character.
  • Madrid is a major transportation hub, with two airports, a high-speed rail network, and a well-developed public transportation system.
  • The city is home to a number of universities, including the Complutense University of Madrid, the Universidad Autónoma de Madrid, and the Carlos III University of Madrid.
  • Madrid is a major cultural center, with a wide variety of museums, theaters, and art galleries.
  • The city is also home to a vibrant nightlife scene, with a wide variety of bars, clubs, and restaurants.
  • Madrid is a popular tourist destination, with over 9 million visitors each year.
  • The city is home to two major football clubs, Real Madrid and Atlético Madrid.
  • Madrid is a cosmopolitan city, and it is home to people from all over the world.

Our Personal Costs of Living in Madrid Spain: Table of expenses Breakdown 2024

Living in Madrid Spain can be an amazing experience, but it’s important to understand the cost of living before you go.

Here’s a detailed breakdown of our monthly cost of living in Madrid Spain, including rent, utilities, gym, food, transportation, entertainment, and health insurance:

Our Monthly Cost of Living in Madrid Spain:

  • Rent and Accommodation: My monthly rent for a one-bedroom apartment in the city center was $829 – $1,080. This included utilities.
  • Utilities: My monthly utilities bill was $117 – $162. This included electricity, water, and gas.
  • Gym: My monthly gym membership was $70.40 – $129.60.
  • Food and Groceries: I spent $468 – $744 on food and groceries each month. This included eating out a few times a week.
  • Transportation: I spent $117 – $234 on transportation each month. This included public transportation and occasional taxis.
  • Activities, Leisure, and Entertainment: I spent $58.50 – $129 on activities, leisure, and entertainment each month. This included going to the movies, concerts, and restaurants.
  • Health Insurance: My monthly health insurance was $52.80 – $234.

Our Total Monthly Cost of Living in Madrid Spain: Our total monthly cost of living in Madrid was $1,512 – $2,642. This varied depending on my spending habits.

Overall, I found the cost of living in Madrid to be reasonable. I was able to live comfortably on a budget of €1,500 per month. If you are looking for a beautiful city with a lot to offer, I would definitely recommend Madrid.

Here is a table of Expenses for what we personally spent in Madrid Spain:

Our Monthly Cost of Living in Madrid SpainCost in USD ($)Cost in EUR (EUR €)
Our Monthly Cost of Living in Madrid SpainCost in USD ($)Cost in EUR (EUR €)
Our Monthly Cost of Rent and Accommodation$829 – $1,080€657 – €864
Our Monthly Cost of Utilities$117 – $162€92 – €129
Our Monthly Gym Cost in Madrid Spain$70.40 – $129.60€56 – €103.20
Our Monthly Cost of Food and Groceries$468 – $744€384 – €616
Our Monthly Cost of Transportation$117 – $234€92 – €184
Our Monthly Cost of Activities, Leisure, Entertainment$58.50 – $129€46 – €103
Our Monthly Cost of Health Insurance$52.80 – $234€42 – €184
Our Total Monthly Cost of Living in Madrid Spain$1,512 – $2,642€1,329 – €2,296

Monthly Cost of Living in Madrid Spain Summary Cost Of Rent, Groceries, Transportation, Healthcare: $1,577 – $5,637 (€1,387 – 4,782) Per Month

Monthly Cost of living in Madrid Spain

You can live in Madrid Spain, for around $1,577 a month for all expenses on a tight budget or $5,637 a month if you want to live much more luxuriously. The Cost of living in Madrid Spain is from $1,577 – $5,637 (€1,387 – 4,782) Per Month.

You can still maintain a monthly budget and enjoy all the beautiful things Madrid Spain, offers.

The following is a breakdown of the average cost of living in Madrid Spain:

Rent

  • Studio apartment: $468 – $1,287 (€404 – €1,053)
    • The cost of renting a studio apartment in Madrid can vary depending on the location, size, and amenities of the apartment. In central Madrid, you can expect to pay on the higher end of the range, while in less central areas, you may be able to find a studio apartment for less.
  • 1 bedroom apartment: $720 – $1,932 (€600 – €1,526)
    • The cost of renting a 1 bedroom apartment in Madrid is also variable, but generally speaking, you can expect to pay more than for a studio apartment. In central Madrid, you can expect to pay on the higher end of the range, while in less central areas, you may be able to find a 1 bedroom apartment for less.
  • 2 bedroom apartment: $900 – $2,652 (€780 – €2,230)
    • The cost of renting a 2 bedroom apartment in Madrid is even more variable than the cost of renting a studio or 1 bedroom apartment. In central Madrid, you can expect to pay on the higher end of the range, while in less central areas, you may be able to find a 2 bedroom apartment for less.
  • 3 bedroom apartment: $1,080 – $3,072 (€960 – 2,730)
    • The cost of renting a 3 bedroom apartment in Madrid is the most expensive. In central Madrid, you can expect to pay on the higher end of the range, while in less central areas, you may be able to find a 3 bedroom apartment for less.

Utilities

  • Electricity and water: $117 – $176 (€92 – 132)
    • The cost of utilities will vary depending on the size of your apartment and your usage habits.

Mobile phone

  • Unlimited data plan or SIM card: $23 – $36 (€20 – 30)
    • The cost of a mobile phone plan will vary depending on the carrier and the amount of data you need.

Internet

  • Wifi: $36 – $53 (€30 – 42)
    • The cost of internet will vary depending on the speed and provider.

Food

  • Groceries, dining out, and local Spanish food: $351 – $1,170 (€300 – 948)
    • The cost of food will vary depending on your eating habits. If you cook at home most of the time, you can expect to spend around $351 per month. If you eat out often, you can expect to spend closer to $1,170 per month.

Transportation

  • Public transport, taxi, scooter, or car: $117 – $820 (€92 – 656)
    • The cost of transportation will vary depending on how you get around. If you rely on public transportation, you can expect to spend around $117 per month. If you take taxis or own a car, you can expect to spend closer to $820 per month.

Healthy activities

  • Gym, martial arts, yoga, and massages: $58 – $117 (€48 – 92)
    • The cost of healthy activities will vary depending on what you do. If you have a gym membership, you can expect to spend around $58 per month. If you take classes or get massages, you can expect to spend closer to $117 per month.

Health insurance

  • SafetyWing, World Nomads, or Medicare: $53 – $234 (€42 – 184)
    • The cost of health insurance will vary depending on the plan you choose. If you are young and healthy, you may be able to find a plan for $53 per month. If you are older or have pre-existing conditions, you may need to pay closer to $234 per month.

Total Monthly Cost Of Living In Madrid Spain:

Total Monthly Cost Of Living In Madrid Spain is from $1,577 – $5,637 (€1,387 – 4,782).

Tips for Saving Money on Your Cost of Living in Madrid

  • Cook your own meals at home.
  • Eat at local restaurants instead of tourist traps.
  • Use public transportation instead of taxis or renting a car.
  • Shop around for the best deals on rent, utilities, and other expenses.

By following these tips, you can save money on your cost of living in Madrid and enjoy a more affordable lifestyle.

I hope this information is helpful. Please let me know if you have any other questions.

The costs of living in Madrid Spain Depending on various factors and spending habits, the price may change. Others spend $4,450 or more each month for an extravagant, next-level lifestyle or even $1,300 on the strictest budget staying in hostels, couchsurfing, and smaller studio apartments, ensuring they make it work no matter what!

Please Remember the Average minimum wage someone earns in Madrid Spain is $1,050 so you definitely can live cheaper if you want.

  • Expect to spend $1,577 – $5,637 (€1,387 – 4,782) Per Month. for a single person living in Madrid Spain. $2430 per Month is sufficient to live on.
  •       Local Madrid Spain markets, Local Food trucks, Local food shops, and supermarkets are the most cost-effective and knowledgeable ways to shop and eat in Madrid Spain!

Here is a table of expenses for a couple living in Madrid Spain per month:

Average Cost of Living in Madrid SpainCost in USD ($)Cost in EUR (€)
Cost of Rent (Studio apartment)$468 – $1,287€404 – $1,053
Cost of Rent (1 bedroom apartment)$720 – $1,932€600 – $1,526
Cost of Rent (2 bedroom apartment)$900 – $2,652€780 – $2,230
Cost of Rent (3 bedroom apartment)$1,080 – $3,072€960 – 2,730
Cost of Utilities (electricity, water)$117 – $176€92 – 132
Cost of Mobile phone (unlimited data plan, Sim Card)$23 – $36€20 – 30
Cost of Internet (wifi)$36 – $53€30 – 42
Cost of Food (groceries, dining out, Local Spanish Food)$351 – $1,170€300 – 948
Cost of Transportation (Public transport, Taxi, Scooter, car)$117 – $820€92 – 656
Cost of Healthy activities (gym, martial arts, yoga, massages)$58 – $117€48 – 92
Cost of Health insurance (SafetyWing, World Nomads, or Medicare)$53 – $234€42 – 184
Total Monthly Cost Of Living In Madrid Spain$1,577 – $5,637€1,387 – 4,782

Cost of Living in Madrid Spain: Table of Expenses in 2024

This table of expenses will help you plan your budget for your move to Madrid Spain.

The Cost of living table below An extensive poll of Digital Nomads, Expats, travelers, our personal experience living Here, Locals, and Numbeo users were used to put this together.

The Exchange Rate is $1 USD is Currently equal to 0.90 Euros EUR (EUR) This estimate is based on a Strict Budget Vs. A luxury Budget in Madrid Spain per Month! The Cost Of Living In Madrid Spain makes it possible to Live For $1,577 – $5,637 (€1,387 – 4,782) Per Month or more, depending on your spending habits! Check out the Currency Converter.

Here is the Table of the monthly budget for people living in Madrid Spain:

Cost of Living Per Person in Madrid SpainCost in USD ($)Cost in EUR (EUR)
Cost of living for a Single person in Madrid Spain$1,404 – $2,340€1,162 – €1,848
Cost of living for a Couple in Madrid Spain$2,448 – $3,780€2,032 – €3,096
Cost of living for a Family of four in Madrid Spain$3,552 – $4,656€3,032 – €4,176
Average Monthly Expenses in Madrid SpainCost in USD ($)Cost in EUR (EUR)
Average monthly rent for a studio$585 – $1,170€460 – €936
Average monthly cost for food and groceries$270 – $810€210 – €648
Average monthly cost for dining out$135 – $270€108 – €216
Average monthly cost for miscellaneous items$67.50 – $135€54 – €108
Average monthly cost for utilities$135 – $202.50€108 – €163
Average monthly cost for transportation$135 – $675€108 – €567
Total average monthly cost of living in Madrid$1,192.50 – $2,792.50€1,008 – €2,304
Cost of Living in Madrid Spain ExpensesCost (Monthly) in USD ($)Cost (Monthly) in EUR (EUR)
Cost of Rent and Accommodation$585 – $1,170€460 – €936
Cost of Food and Groceries$270 – $810€210 – €648
Cost of Utilities$135 – $202.50€108 – €163
Cost of Public Transportation$67.50 – $135€54 – €108
Cost of Private Transportation$135 – $945€108 – €756
Cost of Healthcare$135 – $270€108 – €216
Cost of Entertainment$135 – $270€108 – €216
Cost of Clothing and Personal Items$67.50 – $135€54 – €108
Cost of Activities and Excursions$135 – $270€108 – €216

Cost of Rent In Madrid Spain In-Depth Summary And Table of Expenses

Cost of Rent In Madrid Spain

The cost of accommodation in Madrid Spain is essential for many expats, retirees, digital nomads, and locals. It can vary depending on the apartment type and location you are looking for.

Cost Of a Studio Apartment in Madrid Spain:

  • A studio apartment in the city of Madrid, Spain costs between $675 and $1,350 per month, or €525 and €1,000.
  • A studio apartment outside the city of Madrid, Spain costs between $475 and $900 per month, or €380 and €650.

Cost of a 1 Bedroom Apartment in Madrid Spain:

  • A one-bedroom apartment in the city of Madrid, Spain costs between $900 and $1,687.50 per month, or €800 and €1,500.
  • A one-bedroom apartment outside the city of Madrid, Spain costs between $720 and $1,200 per month, or €585 and €840.

Cost of a 2 Bedroom Apartment in Madrid Spain:

  • A two-bedroom apartment in the city of Madrid, Spain costs between $1,350 and $2,250 per month, or €1,200 and €2,000.
  • A two-bedroom apartment outside the city of Madrid, Spain costs between $1,087.50 and $1,700 per month, or €900 and €1,260.

Cost of a 3 Bedroom Apartment in Madrid Spain:

  • A three-bedroom apartment in the city of Madrid, Spain costs between $2,025 and $2,812.50 per month, or €1,625 and €2,500.
  • A three-bedroom apartment outside the city of Madrid, Spain costs between $1,625 and 2,250 per month, or €1,350 and 1,800.

Cost of a Luxury Apartment in Madrid Spain:

  • A luxury apartment in the city of Madrid, Spain costs between $3,375 and $5,125 per month, or €3,000 and €4,000.
  • A luxury apartment outside the city of Madrid, Spain costs between $2,700 and 3,600 per month, or €2,250 and 3,000.
Cost Of Rent In Madrid Spain By Apartment typeCost In USDCost In EUR
Studio Apartment in the City Of Madrid Spain$675 – $1,350€525 – €1,000
Studio Apartment outside the City Of Madrid Spain$475 – $900€380 – €650
1 Bedroom Apartment in the City Of Madrid Spain$900 – $1,687.50€800 – €1,500
1 Bedroom Apartment outside the City Of Madrid Spain$720 – $1,200€585 – €840
2 Bedroom Apartment in the City Of Madrid Spain$1,350 – $2,250€1,200 – €2,000
2 Bedroom Apartment outside the City Of Madrid Spain$1,087.50 – $1,700€900 – €1,260
3 Bedroom Apartment in the City Of Madrid Spain$2,025 – $2,812.50€1,625 – €2,500
3 Bedroom Apartment outside the City Of Madrid Spain$1,625 – 2,250€1,350 – 1,800
Luxury Apartment in the City Of Madrid Spain$3,375 – $5,125€3,000 – 4,000
Luxury Apartment outside the City Of Madrid Spain$2,700 – 3,600€2,250 – 3,000

Your best bet is to choose a monthly personal rental via Facebook Marketplace, Real estate in Madrid Spain rental site Helper Like Idealista and Fotocasa, Booking.com, and Airbnb or ask around with locals.

  • Idealista is the most popular website for apartment rental in Madrid Spain. It has a wide variety of apartments to choose from, and you can filter your search by location, price, and other criteria.
  • Fotocasa is another popular website for apartment rental in Madrid Spain. It has a similar interface to Idealista, and it offers a wide variety of apartments to choose from.
  • You can also join Facebook groups such as “Digital Nomads in Madrid Spain” or “Expats in Madrid Spain” and Madrid Spain rental group on Facebook to connect with others and potentially find affordable rental options.
  • Alternatively, consider staying at a Hostel, Airbnb, hotel monthly, homestay, guesthouse, or bed and breakfast in Madrid Spain for more affordable rates rather than a costly hotel or tourist location you can also ask around with locals and find a cheaper apartment that isn’t listed on websites.

Monthly Cost Of Rent in Madrid Spain: Table of Expenses in 2024

Here is a table of expenses for the Cost of rent and Accommodation in Madrid Spain per month:

Cost of Rent in Madrid SpainCost per Month (USD)Cost Per Month In EUR (EUR)
Studio Apartment$526.5 – $1,052.5€443.75 – €837.5
1 Bedroom Apartment$540 – $1,100€450 – €900
2 Bedroom Apartment$831.25 – $1,656.25€700 – €1,375
3 Bedroom Apartment$1,063 – $2,017.5€912.5 – €1,575
Luxury Apartment$1,377 – $2,792€1,200 – €2,250
Accommodation Type in Madrid SpainCost In USDCost In EUR
1 bedroom apartment in city center$953-$1,979€825-€1,500
1 bedroom apartment outside city center$627-$1,293.75€525-€1,000
Studio apartment in city center$572.5-$945€540-€725
Studio apartment outside city center$437.5-$675€381.25-€562.5
Shared room in city center$275-$550€225-€437.5
Shared room outside city center$250-$492.5€200-€400
Hotel room (3-star)$250-$492.5€200-€400
Hotel room (5-star)$492.5-$945€400-€725
2 bedroom apartment in city center$1,979-$3,858€1,500-€2,812.5
2 bedroom apartment outside city center$1,750-$3,250€1,375-€2,500
3 bedroom apartment in city center$2,420-$4,940€2,000-€3,750
3 bedroom apartment outside city center$1,979-$3,858€1,500-€2,812.5
Housing Accommodation Type in Madrid SpainPrice Range per day (USD)Price Range per day In EUR (EUR)
Hostel$18.63-$36.13€15.00-€29.38
Budget Hotel$49.38-$85.63€40.63-€68.13
Mid-range Hotel$85.63-$168.76€70.00-€137.50
Luxury Hotel$168.76-$328.13€137.50-€256.26
Vacation Rental$126.88-$247.50€104.13-€203.75
Guest House$85.63-$168.76€70.00-€137.50
Bed & Breakfast$70.00-$126.88€56.25-€104.13

Where to Stay in Madrid Spain: Best Areas, Neighborhoods In Madrid Spain

Best Areas and Neighborhoods in Madrid, Spain:

Madrid is an amazing city, from its breathtaking architecture and vibrant nightlife to its delicious food and friendly people.

But with so many different neighborhoods to choose from, it can be tough to know where to start. Here are a few of the best areas and neighborhoods in Madrid, Spain, based on your interests and more, with the average monthly rent prices for a one-bedroom apartment in each neighborhood, in USD and EUR:

Chueca

  • A vibrant and trendy neighborhood in the heart of Madrid
  • Known for its lively nightlife, and its eclectic mix of shops, restaurants, and bars
  • Home to the famous Chueca Market, which is a great place to find unique souvenirs and gifts
  • Average monthly rent: $800 – $1,600 USD / €1,000

Salamanca

  • An upscale neighborhood in the north of Madrid
  • Known for its elegant architecture, its luxurious shops, and its Michelin-starred restaurants
  • Home to the Retiro Park, one of the largest and most popular parks in Madrid
  • Home to the Prado Museum, which houses one of the most important collections of European art in the world
  • Average monthly rent: $1,500 – $3,000 USD / €1,500

Sol

  • The central square of Madrid and the heart of the city
  • A bustling and lively area, with a wide variety of shops, restaurants, and bars
  • Home to the Royal Palace of Madrid, the seat of the Spanish monarchy
  • Home to the Puerta del Sol, the zero kilometer marker from which all distances in Spain are measured
  • Average monthly rent: $1,000 – $2,000 USD / €1,200

Retiro

  • A large park in the heart of Madrid
  • A popular spot for locals and tourists alike to relax and escape the hustle and bustle of the city
  • Home to a variety of attractions, including the Crystal Palace, a beautiful greenhouse that was built for the 1887 World’s Fair; the Estanque Grande, a large lake that is perfect for boating; and the Rosaleda, a rose garden that is in bloom from May to June
  • Average monthly rent: $600 – $1,400 USD / €800

La Latina

  • A historic neighborhood in the south of Madrid
  • Known for its narrow streets, its lively nightlife, and its traditional tapas bars
  • Home to the Plaza Mayor, a beautiful square that is one of the most popular tourist destinations in Madrid
  • Home to the Mercado de San Miguel, a bustling indoor market that is a great place to find fresh produce, meats, and cheeses
  • Average monthly rent: $400 – $1,200 USD / €600

Barrio de las Letras

  • A literary neighborhood in the center of Madrid
  • Known for its historic buildings, its literary cafes, and its vibrant cultural scene
  • Home to the Cervantes Institute, a museum dedicated to the life and work of Miguel de Cervantes, the author of Don Quixote
  • Home to the Real Academia Española, the Spanish Royal Academy, which is responsible for regulating the Spanish language
  • Average monthly rent: $600 – $1,400 USD / €800

Plaza de España

  • A large square in the south of Madrid
  • Known for its iconic architecture, its beautiful fountains, and its stunning views of the city
  • Home to the Edificio España, a 1950s skyscraper that is one of the most iconic buildings in Madrid
  • Home to the Fuente de la Hispanida, a beautiful fountain that was built in 1929 for the Ibero-American Exhibition
  • Average monthly rent: $800 – $1,600 USD / €1,000

Argüelles

  • A lively neighborhood in the north of Madrid
  • Known for its student population, its trendy shops, and its vibrant nightlife
  • Home to the Universidad Complutense de Madrid, one of the largest universities in Spain
  • Home to the Jardín Botánico de Madrid, a beautiful botanical garden that is home to over 5,000 species of plants
  • Average monthly rent: $600 – $1,200 USD / €700

Best Neighborhoods in Madrid by interest:

Upscale

  • Salamanca is the most upscale neighborhood in Madrid. It is known for its elegant architecture, its luxurious shops, and its Michelin-starred restaurants. Some of the most popular upscale bars and restaurants in Salamanca include:
    • The Zalacaín
    • The Botín
    • The Ramón Freixa at Único
    • The Coque
  • Chamberí is another upscale neighborhood in Madrid. It is known for its stately homes, its leafy streets, and its charming boutiques. Some of the most popular upscale bars and restaurants in Chamberí include:
    • The Casa Lucio
    • The Horcher
    • The La Trainera
    • The Platea

Central

  • Sol is the central square of Madrid and the heart of the city. It is a bustling and lively area, with a wide variety of shops, restaurants, and bars. Some of the most popular central bars and restaurants in Sol include:
    • The Hard Rock Cafe
    • The Café de Oriente
    • The La Mallorquina
    • The Casa Lucio
  • Gran Vía is a major shopping street in Madrid. It is lined with high-end stores, department stores, and cinemas. Some of the most popular shops and restaurants on Gran Vía include:
    • The El Corte Inglés
    • The Zara
    • The H&M
    • The Primark
  • Chueca is another central neighborhood in Madrid. It is known for its vibrant nightlife, its inclusive community, and its many LGBTQ+-friendly businesses. Some of the most popular central bars and restaurants in Chueca include:
    • The Black Sheep
    • The Chueca Market
    • The Liberty Bar
    • The R&J Sauna

Historic

  • Barrio de las Letras is a historic neighborhood in Madrid. It is known for its historic buildings, its literary cafes, and its vibrant cultural scene. Some of the most popular historic landmarks in Barrio de las Letras include:
    • The Cervantes Institute
    • The Real Academia Española
    • The Plaza Mayor
    • The Mercado de San Miguel
  • Retiro is a large park in the heart of Madrid. It is a popular spot for locals and tourists alike to relax and escape the hustle and bustle of the city. Some of the most popular historic landmarks in Retiro include:
    • The Crystal Palace
    • The Estanque Grande
    • The Rosaleda
  • La Latina is a historic neighborhood in the south of Madrid. It is known for its narrow streets, its lively nightlife, and its traditional tapas bars. Some of the most popular historic landmarks in La Latina include:
    • The Plaza Mayor
    • The Mercado de San Miguel
    • The San Francisco el Grande Church
    • The Lavapiés Market

Student

  • Argüelles is a lively neighborhood in the north of Madrid. It is known for its student population, its trendy shops, and its vibrant nightlife. Some of the most popular student bars and restaurants in Argüelles include:
    • The La Vía Láctea
    • The Mondo Disko
    • The Theatro Kapital
    • The The Celtic Rock Pub
  • Lavapiés is another student neighborhood in Madrid. It is known for its multicultural community, its affordable housing, and its lively nightlife. Some of the most popular student bars and restaurants in Lavapiés include:
    • The La Mala Yerba
    • The El Brillante
    • The Casa Paco
    • The El Rastro Market

Shopping

  • Gran Vía is a major shopping street in Madrid. It is lined with high-end stores, department stores, and cinemas. Some of the most popular shops and restaurants on Gran Vía include:
    • The El Corte Inglés
    • The Zara
    • The H&M
    • The Primark
  • Chueca is another popular shopping neighborhood in Madrid. It is known for its eclectic mix of shops, from vintage boutiques to high-end designer stores. Some of the most popular shops in Chueca include:
    • The Agatha Ruiz de la Prada
    • The Adolfo Domínguez
    • The Bimba y Lola
    • The Zara Home

Outdoors

  • Retiro Park is a large park in the heart of Madrid. It is a popular spot for locals and tourists alike to relax and escape the hustle and bustle of the city. Some of the most popular activities in Retiro Park include:
    • Walking
    • Running
    • Cycling
    • Boating
    • Picnicking
  • Casa de Campo Park is the largest park in Madrid. It is a great place to go for a hike, have a picnic, or go for a swim in the lake. Some of the most popular activities in Casa de Campo Park include:
    • Hiking
    • Cycling
    • Horseback riding
    • Swimming
    • Fishing

Sports

  • Santiago Bernabéu Stadium is the home stadium of Real Madrid. It is one of the largest and most famous stadiums in the world. Some of the most popular events at Santiago Bernabéu Stadium include:
    • Real Madrid home games
    • International football matches
    • Concerts
  • Wanda Metropolitano Stadium is the home stadium of Atlético Madrid. It is a modern and state-of-the-art stadium. Some of the most popular events at Wanda Metropolitano Stadium include:
    • Atlético Madrid home games
    • International football matches
    • Concerts

These are just a few of the best areas and neighborhoods in Madrid, Spain. With so much to offer, you’re sure to find the perfect place to stay and explore this vibrant city.

Table of Best Areas, Cities and Neighborhoods in Madrid Spain:

Best Areas and Neighborhoods in Madrid SpainDescriptionAdditional InformationAverage Monthly Rent (USD)Average Monthly Rent (EUR)
ChuecaChueca is a vibrant and trendy neighborhood in the heart of Madrid.Chueca is home to the famous Chueca Market, which is a great place to find unique souvenirs and gifts. It is also home to the Museo Thyssen-Bornemisza, which houses a world-renowned collection of art.$800 – $1,600€1,000
SalamancaSalamanca is an upscale neighborhood in the north of Madrid. It is known for its elegant architecture, its luxurious shops, and its Michelin-starred restaurants.Salamanca is home to the Retiro Park, one of the largest and most popular parks in Madrid. It is also home to the Prado Museum, which houses one of the most important collections of European art in the world.$1,500 – $3,000€1,500
SolSol is the central square of Madrid and the heart of the city. It is a bustling and lively area, with a wide variety of shops, restaurants, and bars.Sol is home to the Royal Palace of Madrid, the seat of the Spanish monarchy. It is also home to the Puerta del Sol, the zero kilometer marker from which all distances in Spain are measured.$1,000 – $2,000€1,200
RetiroRetiro is a large park in the heart of Madrid. It is a popular spot for locals and tourists alike to relax and escape the hustle and bustle of the city.Retiro is home to a variety of attractions, including the Crystal Palace, a beautiful greenhouse that was built for the 1887 World’s Fair; the Estanque Grande, a large lake that is perfect for boating; and the Rosaleda, a rose garden that is in bloom from May to June.$600 – $1,400€800
La LatinaLa Latina is a historic neighborhood in the south of Madrid. It is known for its narrow streets, its lively nightlife, and its traditional tapas bars.La Latina is home to the Plaza Mayor, a beautiful square that is one of the most popular tourist destinations in Madrid. It is also home to the Mercado de San Miguel, a bustling indoor market that is a great place to find fresh produce, meats, and cheeses.$400 – $1,200€600
Barrio de las LetrasBarrio de las Letras is a literary neighborhood in the center of Madrid. It is known for its historic buildings, its literary cafes, and its vibrant cultural scene.Barrio de las Letras is home to the Cervantes Institute, a museum dedicated to the life and work of Miguel de Cervantes, the author of Don Quixote. It is also home to the Real Academia Española, the Spanish Royal Academy, which is responsible for regulating the Spanish language.$600 – $1,400€800
Plaza de EspañaPlaza de España is a large square in the south of Madrid. It is known for its iconic architecture, its beautiful fountains, and its stunning views of the city.Plaza de España is home to the Edificio España, a 1950s skyscraper that is one of the most iconic buildings in Madrid. It is also home to the Fuente de la Hispanida, a beautiful fountain that was built in 1929 for the Ibero-American Exhibition.$800 – $1,600€1,000
ArgüellesArgüelles is a lively neighborhood in the north of Madrid. It is known for its student population, its trendy shops, and its vibrant nightlife.Argüelles is home to the Universidad Complutense de Madrid, one of the largest universities in Spain. It is also home to the Jardín Botánico de Madrid, a beautiful botanical garden that is home to over 5,000 species of plants.$600 – $1,200€700

Living in Madrid Spain Credible Reliable Sources

Here is a list of Government resources for Visas, Cost of living in Madrid Spain, Facebook Groups, apartment rental sites, Tourism Boards, and more to help you with your potential move here! I hope this helps you all as you plan your move here!

  • To find Rentals in Madrid Spain use these apartment rental Sites: Idealista is the most popular website for apartment rentals in Madrid Spain. Fotocasa is another popular website for apartment rental in Madrid Spain. It is similar to Idealista.
  • I suggest using google translate for Chrome and try to use the desktop version of Chrome for this so it will work for you.
  • Madrid Spain Facebook Groups: Spain expat Facebook group and this Expats in Spain Facebook Group
  • Madrid Spain Tourism Site: Spain Tourism Board
  • Madrid Spain Data from Our World in Data World Bank and World Data and Spain Travel Data
  • Madrid Spain Embassy for more information like Visas and more from Spain Embassy
  • Government of Spain
  • For exchanging money use Wise Which is the Best Option if you are a digital nomad and Expat. a cheaper solution to send, spend and receive money internationally rather exchanging money through other platforms like Paypal, Payoneer that cost a lot of money for exchange fees and rates
    • Booking Flights: To Find insane flight deals, search on Google Flights, Skyscanner and choose the monthly option to find the best day to fly on.

Cost Of Transportation In Madrid Spain Summary and Table of expenses

The Cost Of Transportation in Madrid Spain You can Expect to spend from $100 – $700 a month on Transportation; the best way to get around is to use the Public Bus, Train, and Rent a Scooter.

Here’s a detailed overview of the transportation options available, along with their costs and names, so you can make an informed decision based on your travel preferences and budget We recommend Public transportation and renting a scooter monthly as well as using the trains, Bus, and metro:

Transportation Options in Madrid, Spain:

Metro

  • Underground train system
  • Single ticket: 1.50 USD/1.50 EUR
  • Monthly pass: 54.60 EUR
  • Operates 12 lines, 24 hours a day, 7 days a week
  • Connects all major parts of the city
  • A convenient and efficient way to get around
  • Cost:
    • Single ticket: 1.50 USD/1.50 EUR
    • Monthly pass: 54.60 EUR

Bus

  • Surface transit system
  • Single ticket: 1.50 USD/1.50 EUR
  • Monthly pass: 54.60 EUR
  • Operates over 200 lines, 6am-11:30pm on weekdays, 7am-11pm on weekends
  • A good option for getting around the city if you don’t want to take the metro
  • Cost:
    • Single ticket: 1.50 USD/1.50 EUR
    • Monthly pass: 54.60 EUR

Cercanías

  • Commuter rail system
  • Single ticket: 2.60 USD/2.60 EUR
  • Monthly pass: 60 EUR
  • Operates 10 lines, connecting Madrid to the surrounding area
  • A good option for getting to and from the airport or other parts of the city that are not well-served by the metro
  • Cost:
    • Single ticket: 2.60 USD/2.60 EUR
    • Monthly pass: 60 EUR

Taxi

  • Public taxis
  • Flag down fare: 2.40 USD/2.40 EUR
  • Fare per kilometer: 1.50 USD/1.50 EUR
  • A convenient way to get around, but can be expensive during peak hours
  • Cost:
    • Flag down fare: 2.40 USD/2.40 EUR
    • Fare per kilometer: 1.50 USD/1.50 EUR

Uber

  • Ride-hailing service
  • Fares vary depending on the distance traveled
  • A good option for getting around if you don’t want to take a taxi or the metro
  • Cost:
    • Fares vary depending on the distance traveled

Rental Car

  • Can be a good option for exploring Madrid at your own pace
  • However, it is important to factor in the cost of parking and tolls
  • Cost:
    • $400 – $1000 per month and 400 – 1000 EUR per month

Bicycle

  • Bicycle sharing system called BiciMAD
  • Bicycles can be rented for 1.50 USD/1.50 EUR per hour
  • A great way to see the sights and get some exercise
  • Cost:
    • 1.50 USD/1.50 EUR per hour

Walking

  • Walking is a great way to see the sights and get some exercise
  • Madrid is a relatively walkable city, and many of the major tourist attractions are within walking distance of each other

Scooter Rental

  • Electric scooter rental is a convenient and fun way to get around Madrid
  • Scooters can be rented from companies like Lime, Bird, and Voi
  • Cost:
    • $200 – $300 per month

Train

  • Madrid is connected to other major cities in Spain by high-speed train
  • Renfe is the national rail company, and tickets start at 20 EUR
  • Cost:
    • Tickets start at 20 EUR

Airport Shuttle

  • ALSA and Alsa City operate bus services between the airport and the city center
  • Tickets cost 10 EUR
  • Cost:
    • Tickets cost 10 EUR

Private Transfer

  • Uber and Cabify offer one-way car services between the airport and the city center
  • Tickets cost 30 EUR
  • Cost:
    • Tickets cost 30 EUR

Here is the information about the monthly transportation pass in Madrid:

  • Name: Abono
  • Cost: 54.60 EUR for zone A, 20 EUR for under 26 years old for all zones
  • Validity: 30 days
  • How to buy: Can be purchased at Metro ticket machines, tobacconist’s and other authorised points of sale, Bankia ATMs (with some exceptions) and Renfe-Cercanías stations.
  • How to use: Must be validated on the reader on the metro or bus before each journey.
  • Benefits: Unlimited travel on Metro, EMT, Metro Ligero, Cercanías and Renfe-Cercanías within the validity zone.
  • Additional information: The monthly transportation pass can be purchased for a single zone or for all zones. The cost of the pass varies depending on the zone(s) selected. The monthly transportation pass is a great way to save money on transportation if you plan on using public transportation frequently.

Here is a detailed table of estimated costs for public transportation in Madrid Spain:

Transportation Options in Madrid SpainDescriptionCost in USDCost in EURService ProviderAdditional Information
MetroUnderground train system1.50 USD1.50 EUR or 54 EUR per monthMetro de MadridOperates 12 lines, 24 hours a day, 7 days a week.
BusSurface transit system1.50 USD1.50 EUREMT MadridOperates over 200 lines, 6am-11:30pm on weekdays, 7am-11pm on weekends.
CercaníasCommuter rail system2.60 USD2.60 EURRenfeOperates 10 lines, connecting Madrid to the surrounding area.
TaxiPublic taxis2.40 USD2.40 EURStart fareFlag down fee, plus 1.50 EUR per kilometer.
UberRide-hailing service2.70 USD2.70 EURVaries by distanceCan be more expensive than taxis during peak hours.
Rental CarCar rental60 USD/day or $450 – $1100 per month60 EUR/day or 400 – 1000 EUR per monthVaries by rental companyCan be a good option for exploring the city at your own pace.
BicycleBicycle sharing1.50 USD/hour1.50 EUR/hourBiciMAD200 stations throughout the city.
WalkingWalkingFreeFreeA great way to see the sights and get some exercise.
Scooter RentalElectric scooter rental$200 – $300 Per Month200 EURLime, Bird, VoiAvailable throughout the city.
TrainHigh-speed train20 USD20 EURRenfeConnects Madrid to other major cities in Spain.
Airport ShuttleBus service between the airport and the city center10 USD10 EURALSA, Alsa CityRuns every 15 minutes.
Private TransferOne-way car service between the airport and the city center30 USD30 EURUber, CabifyCan be booked in advance.

Additionally, here are some other related expenses:

  • Gasoline (1 gallon): around $4 – $7 per gallon.
Monthly Cost Of Gas and Petrol For Scooter in Madrid SpainCost in USDCost in EUR (EUR)
Average monthly cost for gasoline, Petrol for scooter$30 – $140EUR 25 – 120 EUR

Ultimately, we recommend renting a Scooter monthly, Trains, or taking the bus, Using the eBike and Public Transport This will give you the best experience and save a lot of money, and you can explore Madrid Spain this way, Uber is to expensive and we don’t recommend renting a car either.

For more information check out the Government Of transportation in Madrid Spain


Cost of Food and Markets In Madrid Spain Explained: Table Of Expenses 2024

Madrid Spain is known for its delicious and diverse cuisine, with a variety of options for locals and tourists alike.

Below is a breakdown of the average monthly cost of food in Madrid Spain, including local food, dining out, groceries, supermarkets, street food, and specialty food stores and everything you need to know what you can expect to spend in Madrid:

  • Local food in Madrid Spain:
    • The cost of local food in Madrid Spain ranges from $234 to $351 per month.
    • This includes the cost of eating out at local restaurants, buying groceries, and eating street food.
    • Local food is a great way to experience the culture of Madrid and save money.
  • Mid-range restaurants in Madrid Spain:
    • The cost of eating at mid-range restaurants in Madrid Spain ranges from $468 to $687 per month.
    • This includes the cost of eating out at restaurants that are not considered to be fine dining.
    • Mid-range restaurants offer a good balance of quality and price.
  • Fine dining restaurants in Madrid Spain:
    • The cost of eating at fine dining restaurants in Madrid Spain ranges from $702 to $972 per month.
    • This includes the cost of eating out at restaurants that are considered to be the best in Madrid.
    • Fine dining restaurants offer a unique dining experience and are a great way to celebrate a special occasion.
  • Groceries in Madrid Spain:
    • The cost of groceries in Madrid Spain ranges from $234 to $872 per month.
    • This includes the cost of buying food at supermarkets and specialty food stores.
    • Groceries can be a great way to save money if you are cooking at home.
  • Supermarkets (imported goods) per item:
    • The cost of imported goods at supermarkets in Madrid Spain ranges from $2.34 to $68.70 per item.
    • This includes the cost of buying items such as cheese, wine, and chocolate.
    • Imported goods can be more expensive than locally produced goods.
  • Street food in Madrid Spain per meal:
    • The cost of street food in Madrid Spain ranges from $2.34 to $23.40 per meal.
    • This includes the cost of buying food from vendors on the street.
    • Street food is a great way to eat cheaply and experience the local culture.
  • Specialty food stores in Madrid Spain per item:
    • The cost of food at specialty food stores in Madrid Spain ranges from $23.40 to $35.10 per item.
    • This includes the cost of buying items such as cheese, wine, and chocolate.
    • Specialty food stores offer a wider variety of food than supermarkets.

The overall monthly cost of food in Madrid Spain ranges from $302 to $1,761.

This cost will vary depending on your lifestyle and spending habits.

If you are on a tight budget, you can save money by eating at local restaurants, buying groceries, and eating street food.

If you are looking for a more luxurious dining experience, you can eat at fine dining restaurants.

No matter what your budget is, you can find delicious food in Madrid Spain.

Here are some tips for budgeting your food costs in Madrid:

  • Cook at home more often. This is the most affordable way to eat in Madrid. You can buy groceries at local markets or supermarkets, and there are many affordable Local restaurants.

Here is a table of expenses for the Cost of Food in Madrid Spain per month:

Cost of Food in Madrid SpainCost in USDCost in EUR (EUR)
Local food in Madrid Spain$234 – $351€211 – €316
Mid-range restaurants in Madrid Spain$468 – $687€426 – €619
Fine dining restaurants in Madrid Spain$702 – $972€629 – €863
Groceries in Madrid Spain$234 – $872€211 – €765
Supermarkets (imported goods) per item$2.34 – $68.70€2.11 – €61.90
Street food in Madrid Spain per meal$2.34 – $23.40€2.11 – €21.10
Specialty food stores in Madrid Spain per item$23.40 – $35.10€21.10 – €31.60
Overall Monthly Cost of Food in Madrid Spain$302 – $1,761€274 – €1,581
Average Monthly Food Costs in Madrid SpainCost in USDCost in EUR (EUR)
Local Food Markets, Street food and Local Supermarkets and cheaper dining options$234 – $351€211 – €316
Eating out at Mid-range restaurants and expensive restaurants per month (No Budget)$687 – $2340€619 – €2129

Here is an example table of expenses for the average monthly food and grocery costs in Madrid Spain:

Monthly Food Expenses in Madrid SpainCost in USDCost in EUR (EUR)
Average monthly cost for groceries and local food$234 – $351€211 – €316
Average monthly cost for dining out$468 – $687€426 – €619
Average monthly cost for miscellaneous food items$117 – $234€107 – €211
Total average monthly cost for food in Madrid Spain$340 – $1430€302 – €1272

Here is a table of estimated costs for food and Groceries in supermarkets in Madrid Spain:

Cost of Food and Groceries in Supermarkets in Madrid SpainEstimated Cost (USD)Estimated Cost in EUR (EUR)
Milk (1 liter)$0.99 – $1.49€0.90 – €1.33
Bread (500g loaf)$0.99 – $1.49€0.90 – €1.33
Rice (1kg)$0.99 – $1.49€0.90 – €1.33
Chicken (1kg)$4.95 – $7.35€4.45 – €6.58
Apples (1kg)$1.49 – $2.88€1.33 – €2.52
Oranges (1kg)$0.99 – $1.98€0.90 – €1.71
Eggs (1 dozen)$0.99 – $1.98€0.90 – €1.71
Cheese (1kg)$4.95 – $7.35€4.45 – €6.58
Beef (1kg)$9.90 – $14.70€9 – €13.16
Potatoes (1kg)$0.49 – $0.99€0.45 – €0.90
Tomatoes (1kg)$0.99 – $1.98€0.90 – €1.71
Onion (1kg)$0.49 – $0.99€0.45 – €0.90
Water (1.5 liter bottle)$0.49 – $0.99€0.45 – €0.90
Soft drink (1.5 liter bottle)$0.99 – $1.49€0.90 – €1.33
Beer (330ml bottle)$1.98 – $2.88€1.71 – €2.52
Wine (mid-range bottle)$4.95 – $7.35€4.45 – €6.58
Fast food meal$7.90 – $11.90€7 – €10.79
Restaurant meal (mid-range)$18.80 – $26.40€17 – €23.58
Cost of Groceries and Food in Madrid SpainEstimated Cost (USD)Estimated Cost in EUR (EUR)
Meal, Inexpensive Restaurant$9 – $13€8.10 – €11.70
Meal for 2, Mid-range Restaurant, Three-course$27 – $36€24.30 – €32.40
Combo Meal at McDonald’s or Similar$11 – $16€10 – €14.40
Domestic Beer (0.5 liter draught)$2.70 – $3.60€2.43 – €3.24
Imported Beer (0.33 liter bottle)$3.60 – $4.50€3.24 – €4.05
Cappuccino (regular)$3 – $4€2.70 – €3.60
Coke/Pepsi (0.33 liter bottle)$2 – $2.70€1.80 – €2.43
Water (0.33 liter bottle)$0.90 – $1.20€0.81 – €1.08
Milk (regular), (1 liter)$1.40 – $1.80€1.26 – €1.62
Loaf of Fresh White Bread (500g)$1.40 – $1.80€1.26 – €1.62
Rice (white), (1kg)$1.80 – $2.40€1.62 – €2.16
Eggs (regular) (12)$2 – $2.70€1.80 – €2.43
Local Cheese (1kg)$6.30 – $7.50€5.46 – €6.75
Chicken Breasts (Boneless, Skinless), (1kg)$6.30 – $7.50€5.46 – €6.75
Beef Round (1kg) (or Equivalent Back Leg Red Meat)$14 – $18€12.60 – €16.20
Apples (1kg)$2.70 – $3.60€2.43 – €3.24
Banana (1kg)$2 – $2.70€1.80 – €2.43
Oranges (1kg)$2 – $2.70€1.80 – €2.43
Tomato (1kg)$2 – $2.70€1.80 – €2.43

Here is a Table of Local traditional Spanish Food:

Local Traditional Spanish Street Food in MadridDescriptionCost In USDCost In EUR
ChurreríaA type of fried dough, typically served with chocolate sauce.$1.50 – $3€1.20 – €2.70
Pincho de tortillaA small piece of fried potato omelet.$1.50 – $3€1.20 – €2.70
Bocadillo de calamaresA sandwich filled with fried squid.$2 – $4€1.80 – €3.60
Callos a la madrileñaA stew made with tripe, chickpeas, and chorizo sausage.$3 – $5€2.70 – €4.50
Cocido madrileñoA hearty stew made with chickpeas, meat, and vegetables.$4 – $6€3.60 – €5.40
Oreja a la planchaGrilled pork ear.$2 – $4€1.80 – €3.60
Tortilla de patatasSpanish omelet made with potatoes, onions, and eggs.$1.50 – $3€1.20 – €2.70
CroquetasFried croquettes made with a variety of fillings, such as ham, chicken, or cheese.$1.50 – $3€1.20 – €2.70
Gambas al ajilloShrimp cooked in garlic and olive oil.$2 – $4€1.80 – €3.60
Pulpo a la gallegaOctopus cooked in olive oil, paprika, and salt.$3 – $5€2.70 – €4.50

Cost of Utilities in Madrid Spain Summary and Table of Expenses 2024

Here is an estimated monthly cost breakdown of utilities in Madrid Spain, including electricity, gas, water, internet, and mobile phone services:

Monthly Cost of Utilities in Madrid Spain:

Basic electricity and gas in Madrid Spain

  • The estimated monthly cost of basic electricity and gas in Madrid, Spain is between $81 and $151 (€69 and €128). The average household uses around 1,000 kWh of electricity and 1,500 cubic meters of gas per year. The cost of electricity is around €0.18 per kWh and the cost of gas is around €0.07 per cubic meter.

Water

  • The estimated monthly cost of water in Madrid, Spain is between $26 and $36 (€22 and €31). The average household uses around 100 cubic meters of water per year. The cost of water is around €1.80 per cubic meter.

Internet (Wifi)

  • The estimated monthly cost of internet in Madrid, Spain is between $36 and $52 (€31 and €43). The average speed of internet in Madrid is 30 Mbps.

Mobile phone sim card (Prepaid)

  • The estimated monthly cost of a prepaid mobile phone sim card in Madrid, Spain is between $4.5 and $21 (€3.6 and €18). The average amount of data included in a prepaid plan is 1 GB.

Mobile phone plan (Postpaid)

  • The estimated monthly cost of a postpaid mobile phone plan in Madrid, Spain is between $19 and $44 (€16 and €37). The average amount of data included in a postpaid plan is 10 GB.

Mobile phone plan (Unlimited data)

  • The estimated monthly cost of an unlimited data mobile phone plan in Madrid, Spain is between $26 and $47 (€22 and €39).

Total Cost of Utilities in Madrid Spain

  • The estimated total monthly cost of utilities in Madrid, Spain is between $190 and $322 (€169 and €251). This includes the cost of electricity, gas, water, internet, and mobile phone.

Here are tips on how to reduce the Utilities costs.

  • Shop around for the best deals. There are many different providers for utilities in Madrid, so it’s worth shopping around to find the best deal. You can compare prices online or call around to different providers.
  • Look for energy-efficient appliances. Older appliances are often less energy-efficient than newer models. If you’re buying new appliances, look for models that are Energy Star certified.
  • Unplug appliances when you’re not using them. Even when they’re turned off, appliances can still use energy. Unplugging them when you’re not using them can help you save money on your electric bill.
  • Take shorter showers. Showers are a major source of water usage. Taking shorter showers can help you save money on your water bill.
  • Install a programmable thermostat. A programmable thermostat can help you save money on your heating and cooling bills by automatically adjusting the temperature when you’re asleep or away from home.
  • Get a home energy audit. A home energy audit can identify areas where you can improve the energy efficiency of your home. This can lead to significant savings on your utility bills.

Here is an example table of expenses for the average monthly utilities in Madrid Spain:

Monthly Cost of Utilities in Madrid, SpainEstimated Monthly Cost (USD)Estimated Monthly Cost in EUR (EUR)
Basic electricity / gas in Madrid Spain$81 – $151€69 – €128
Water$26 – $36€22 – €31
Internet (Wifi) Movistar, Orange, Vodafone, Jazztel$36 – $52€31 – €43
Mobile phone sim card (Prepaid) Movistar, Orange, Vodafone, Yoigo$4.5 – $21€3.6 – €18
Mobile phone plan (Postpaid) Movistar, Orange, Vodafone, Yoigo$19 – $44€16 – €37
Mobile phone plan (Unlimited data) Movistar, Orange, Vodafone, Yoigo$26 – $47€22 – €39
Total Cost of Utilities in Madrid Spain$190 – $322€169 – €251

Pros and Cons of Living in Madrid Spain: Is it the Right Choice for You?

Living in Madrid Spain has its pros and cons.

Here are some of the advantages and disadvantages of living in Madrid Spain:

Pros of Living in Madrid, Spain

  • Beautiful city with a rich history and culture: Madrid is a city with a long and rich history. It is home to many museums, art galleries, and historical landmarks. The city is also known for its vibrant nightlife and its many festivals and events.
  • Cheap local food that tastes amazing: Madrid is a great place to enjoy delicious and affordable food. There are many traditional Spanish dishes to try, as well as international cuisine. The city also has a thriving street food scene.
  • Friendly and welcoming people: The people of Madrid are known for being friendly and welcoming. They are always happy to help out visitors and make them feel at home.
  • Affordable cost of living compared to other major European cities: The cost of living in Madrid is much lower than in other major European cities, such as London, Paris, and Berlin. This makes it a great option for people who are looking to save money.
  • Great food: Madrid is a foodie’s paradise. There are endless options for dining out, from Michelin-starred restaurants to casual tapas bars. The city also has a thriving street food scene.
  • Beautiful nature on the outskirts of Madrid: Madrid is surrounded by beautiful nature. The city is within easy reach of mountains, forests, and rivers. This makes it a great place to enjoy outdoor activities such as hiking, biking, and swimming.
  • Excellent public transportation system: Madrid has an excellent public transportation system that makes it easy to get around the city. The city has a metro system, a bus system, and a train system.
  • International city with a large expat community: Madrid is an international city with a large expat community. This means that there are many resources available to help people who are new to the city.
  • High quality of life: Madrid has a high quality of life. The city has a strong economy, excellent healthcare, and a good education system. The city is also very safe, with a low crime rate.

Cons of Living in Madrid, Spain

  • High unemployment rate: The unemployment rate in Madrid is relatively high. This can make it difficult to find a job, especially if you are not fluent in Spanish.
  • Annoying rental agreements: Rental agreements in Madrid can be very complicated and time-consuming to understand. It is important to have a lawyer or real estate agent help you with the process.
  • High cost of food if eating out: Eating out in Madrid can be expensive, especially if you are not careful. It is a good idea to cook at home as often as possible.
  • Language barrier for non-Spanish speakers: Spanish is the official language of Madrid. If you do not speak Spanish, it can be difficult to get around and communicate with people.
  • High levels of bureaucracy: Spain is a bureaucratic country. This can make it difficult to get things done, such as opening a bank account or getting a visa.
  • Rising crime rates in some areas: Crime rates in Madrid are rising in some areas. It is important to be aware of your surroundings and take precautions, such as locking your doors and windows at night.
  • Tough immigration laws: Spain has tough immigration laws. It can be difficult to get a visa to live in the country.
  • Some Regions can be touristy: Some parts of Madrid can be very touristy. This can make it difficult to find a quiet place to relax and enjoy the city.
  • Safety Concerns in some areas.: There are some areas of Madrid that are considered to be unsafe. It is important to do your research and avoid these areas if possible.

Additional Information

  • Madrid is in the middle of Spain, so there are no beaches around. However, there are many beautiful lakes and rivers in the area that are perfect for swimming, fishing, and boating.
  • The cost of living in Madrid is rising, but it is still relatively affordable compared to other major European cities. The average cost of rent for a one-bedroom apartment in the city center is around €700 – €1200 per month.
  • The Spanish language is the official language of Madrid. However, English is widely spoken in the city, especially in tourist areas.
  • Madrid is a safe city, but it is always a good idea to be aware of your surroundings and take precautions against petty theft.
  • Madrid is a great city to live in, work in, and raise a family. It has a lot to offer its residents, including a vibrant culture, a strong economy, and a high quality of life.

Overall, Madrid is a great city with a lot to offer expats. However, it’s important to be aware of the pros and cons and the cost of living in Spain before moving to Madrid.

Pros and Cons of Living in Madrid Spain Table:

Pros of living in Madrid SpainCons of Living in Madrid Spain
Beautiful city with a rich history and culture in MadridHigh unemployment rate
Cheap Local Food that tastes amazingAnnoying Rental Agreements
Friendly and welcoming people in MadridHigh Cost of food if eating out
Affordable cost of living compared to other major European citiesLanguage barrier for non-Spanish speakers
Great food High levels of bureaucracy
Beautiful nature on the outskirts of MadridMadrid is In the Middle of Spain so there are no Beaches around.
Excellent public transportation system in MadridRising crime rates in some areas
International city with a large expat communityTough immigration laws
High Quality of LifeSome Regions can be touristy
Many things to doSafety Concerns in some areas.


Healthcare Costs in Madrid Spain

Medical care in Madrid Spain is great and reliable. You can get free healthcare if you are a citizen or resident. You can also get free healthcare if you meet certain requirements, but if you are a digital nomad or someone that is going for a few months you will need health insurance from SafetyWing, etc.

SafetyWing Insurance is an innovative travel insurance solution designed for travelers, digital nomads, and remote workers. Whether you’re on a gap year, working abroad, or traveling for business, SafetyWing offers a comprehensive coverage plan to keep you protected and secure during your journey.

Here are just a few reasons why you should try SafetyWing Insurance for your next trip:

  1. Global Coverage: SafetyWing insurance covers you anywhere in the world, including countries that many other insurance companies exclude.
  2. Affordable: SafetyWing offers affordable, more cost-effective insurance options than many other travel insurance plans.
  3. Easy to Use: With SafetyWing, you can sign up, manage your policy, and file claims all from the comfort of your phone or computer.
  4. Wide Range of Coverage: SafetyWing offers coverage for a variety of events, including medical emergencies, trip cancellations, lost or stolen property, and more.
  5. 24/7 Support: SafetyWing provides 24/7 support to its customers, so you can get help when you need it, no matter where you are in the world.

We suggest you also have it, especially if you live as an expat and digital nomad in Madrid Spain. We always use SafetyWing for international travel insurance and medical concerns. They start at $45 a month! It’s incredible and always reliable!

Here is a table of Healthcare costs in Madrid Spain:

Healthcare Costs and Services in Madrid, SpainCost in USDCost in EUROS (EUR)
Doctor’s Visit (General Practitioner)$52.45-$106.70€41.92-€83.48
Specialist Visit$84.44-$158.35€70.31-€127.65
Prescription Medications (Generic)$5.27-$20.70€4.22-€16.32
Prescription Medications (Brand Name)$52.45-$210.40€41.92-€171.92
Dental Cleaning$42.07-$106.70€35.44-€83.48
Dental Filling$52.45-$210.40€41.92-€171.92
Eye Exam$42.07-$83.48€35.44-€70.31
Glasses (Basic)$52.45-$158.35€41.92-€127.65
Glasses (Designer)$158.35-$420.80€127.65-€336.72
Emergency Room Visit$106.70-$524.05€83.48-€419.23
Hospital Stay (Per Day)$210.40-$648.15€171.92-€524.05
Health Insurance (Individual)$45.35 – $317.40€36.16 – €255.12

Main FAQS Section About Madrid Spain:

What is the monthly cost of living in Madrid Spain?

The cost of living in Madrid Spain on average, is around $1,577 – $5,637 (€1,387 – 4,782) Per Month. This includes rent, food, transportation, and other costs like utilities and phone bills.

What is the Cost Of Living in Madrid Spain Vs USA?

The Cost Of Living in Madrid Spain is around 67.4% cheaper than living in New York City, USA, and the average monthly Cost of living in Madrid Spain is $1,577 – $5,637 (€1,387 – 4,782) Per Month in Madrid Spain vs $5500 to $10393 per month living in New York City, United States.

What is the Cost of Accommodation in Madrid Spain?

The Cost of Accommodation in Madrid Spain costs around $520 to $3,200 per month. from a simple studio to a Luxury 3+ bedroom Condo.

What is the best time of year to visit Madrid Spain?

The best time to visit Madrid Spain is during March to November.

How Much does it cost to live in Madrid Spain?

On average, living in Madrid Spain costs around $1,577 – $5,637 (€1,387 – 4,782) Per Month.

What is the Cost of Utilities in Madrid Spain?

The Cost of Utilities in Madrid Spain Cost around $119 to $300 per month, depending on your energy consumption!

What is the Cost of Food in Madrid Spain vs USA?

The Cost Of Food in Madrid Spain is 27% cheaper than in New York, United States. Monthly Food Costs in Madrid Spain is from $303 to $1200 per month for a strict vs luxury budget.

What is the Cost Of Rent in Madrid Spain VS USA?

The Cost of Rent in Madrid Spain is 67.4% cheaper Than in New York, United States A 1 bedroom apartment in Madrid Spain costs $520 to $2500 per month on average, and 1 bedroom Apartment in New York City, United States, Costs over $2950 per month.

What is the Food Expenses In Madrid Spain?

The Food expenses in Madrid Spain is from $303 to $1200 per month. Make sure to eat the local Food, local Food markets, buying meats in bulk from the local store and freezing them, and going to supermarkets to save money.

What is the Rental Expenses In Madrid Spain?

The monthly rent for a 1-bedroom in Madrid Spain is from $650 to $1500.

What is the Expenses for a Single Person in Madrid Spain?

The Expenses for a Single Person in Madrid Spain is from $1,577 – $5,637 (€1,387 – 4,782) Per Month for all expenses.

What is the average cost of Rent In Madrid Spain?

The Average cost of rent in Madrid Spain is around $550 to $3,000 Per Month in Madrid Spain.

What is the average Cost of Transportation In Madrid Spain?

The average cost of transportation in Madrid Spain is about $2 – $30 USD per day or $100 to $700 per month, Depending if you use a Bus, Train, Public transport and Scooter or personal car which we don’t recommend having a car.

What is the Cost of Mobile Phone SIM and Internet Data In Madrid Spain?

The Cost of Phone Data and internet from in Madrid Spain is around $15 to $100 per month.

What is the Cost of Food in Madrid Spain?

The Cost of Food in Madrid Spain costs around $303 to $720 per month on a budget; try to eat at the local restaurants, local markets and street food for the best and cheapest food to stay on budget!

Is Madrid Spain a Safe place to live?

Yes, Madrid Spain is safe! but of course, you always need to watch what you are doing and keep safety of mind as you would anywhere in the world also stay away from Bars, clubs and shady areas.

Is it expensive to live in Madrid Spain?

No, it is not expensive to Live in Madrid Spain you can expect to spend $1,577 – $5,637 (€1,387 – 4,782) Per Month if you live on a budget and don’t do tourist things. I recommend renting a studio, eating local food, renting a scooter, taking the bus, Public Transport and shopping at the local markets and local food places. If you do this you will save a lot of money!

What is the average salary in Madrid Spain?

The Average Yearly Salary in Madrid Spain is around $29,500 per year but the minimum wage is around $13,000 per year or 1,050 per month.

What is a good salary to live in Madrid Spain?

A great Salary to live on in Madrid Spain is around $2,370 – $4,000 per month. This will cover all expenses.


Cost of Living in Madrid Spain and Budget Tips Conclusion

Thank you for reading our comprehensive guide on the cost of living in Madrid Spain. We hope that you have found our insights, tips, and resources helpful in planning your move to this beautiful European country.

Here are some main points final budget tips for living in Madrid Spain:

  • Consider living in smaller towns or villages instead of larger cities like Madrid, Madrid, etc.
  • Shop at local markets, Local Food Shops, and grocery stores for fresh produce and ingredients to cook your own meals.
  • Take advantage of the many free or low-cost outdoor activities available in Madrid Spain, such as hiking, swimming, and exploring historical sites.
  • Use public transportation or rent a scooter, which is affordable and reliable.
  • Look for long-term rental options, which are often cheaper than short-term stays in hotels or vacation rentals.
  • Be mindful of your spending and create a budget that works for you.

Budget Tips

Here are some additional budget tips to help you save money in Madrid:

  • Cook at home. Eating out can be expensive in Madrid, so cooking at home is a great way to save money. There are many affordable grocery stores in Madrid where you can buy fresh produce and ingredients.
  • Take advantage of free activities. There are many free activities available in Madrid, such as visiting museums, art galleries, and parks. You can also find free concerts, festivals, and other events throughout the year.
  • Use public transportation. The public transportation system in Madrid is efficient and affordable. You can save money on transportation by taking public transportation instead of taxis or renting a car.
  • Walk or bike. Madrid is a very walkable city. You can save money on transportation by walking or biking instead of taking public transportation or driving.
  • Take advantage of discounts and coupons. There are many websites and apps that offer discounts and coupons for businesses in Madrid. You can save money by taking advantage of these discounts and coupons.
  • Be patient. Madrid is a popular tourist destination, so expect crowds and long lines. Be patient and prepared for these things, and you’ll have a much better time.
  • Be respectful of the local culture. Madrid is a cosmopolitan city with a rich history and culture. Be respectful of the local customs and traditions.

Additional Budget Tips

Here are some additional budget tips that you may find helpful:

  • Look for deals and discounts. There are many ways to find deals and discounts on goods and services in Madrid. You can check websites like Groupon and LivingSocial for daily deals, or sign up for email newsletters from your favorite businesses to be notified of special offers.
  • Take advantage of student discounts. If you are a student, you may be eligible for discounts on a variety of goods and services in Madrid. Be sure to ask about student discounts when you make a purchase.
  • Consider buying a Madrid Tourist Card or monthly Public Transport card. The Madrid Tourist Card offers free admission to many of the city’s top attractions, as well as discounts on public transportation and other activities. If you plan on doing a lot of sightseeing, the Madrid Tourist Card can save you money. also buy a monthly public transportation card.
  • Buy a monthly public transportation pass. If you plan on using public transportation frequently, you can save money by buying a monthly pass. Monthly passes are available for both Metro and bus travel.
  • Rent a bike. Biking is a great way to get around Madrid and save money on transportation. You can rent bikes from many different locations in the city.
  • Join a language exchange group. There are many language exchange groups in Madrid where you can meet native Spanish speakers and practice your Spanish. This is a great way to make friends, learn the language, and save money on language classes.
  • Volunteer your time. There are many opportunities to volunteer in Madrid. Volunteering is a great way to give back to the community and save money on travel and entertainment.

Additional Tips

Here are some additional tips that you may find helpful:

  • Learn some Spanish. Even if you don’t speak fluent Spanish, learning a few basic phrases will go a long way in Madrid.
  • Be prepared for crowds. Madrid is a popular tourist destination, so expect crowds, especially during the summer months.
  • Be aware of your surroundings. Like any major city, Madrid has its share of petty crime. Be sure to keep an eye on your belongings and be aware of your surroundings, especially at night.
  • Don’t be afraid to ask for help. The people of Madrid are generally very friendly and helpful. If you need help finding your way around or with anything else, don’t be afraid to ask for help


Here are some additional tips on how to find affordable accommodations in Madrid, Spain:

  • Use online classifieds websites. There are many online classifieds websites that list apartments and houses for rent in Madrid. Some of the most popular websites include Idealista and Fotocasa.
  • Contact real estate agents. Real estate agents can help you find apartments and houses that meet your needs and budget.
  • Attend property viewings. Once you’ve found a few apartments or houses that you’re interested in, attend property viewings to get a better idea of the space and the neighborhood.
  • Be prepared to negotiate. The asking price is not always the final price. Be prepared to negotiate with the landlord or real estate agent to get a better deal.
  • Have your paperwork in order. When you’re ready to rent an apartment or house, be sure to have all of your paperwork in order, such as a passport, proof of income, and a rental reference.

I hope these tips help you find affordable accommodations in Madrid, Spain.

Here are some more information about Idealista and Fotocasa:

  • Idealista is the largest real estate Site in Spain. It offers a wide variety of properties for sale and rent, including apartments, houses, villas, and commercial properties.
  • Fotocasa is another popular real estate portal in Spain. It offers a similar variety of properties as Idealista, but it also has a focus on properties in the city of Madrid.

Both Idealista and Fotocasa are free to use, but you can pay for a premium subscription to get access to additional features, such as the ability to contact landlords directly and the ability to see more properties.

Related articles About Spain:


Travel Resources and Reliable Sources For Madrid Spain

  • Booking Flights: To score insane flight deals, search on Google FlightsSkyscanner. Money-saving tips: fly in the middle of the week, on the weekend; fly carry-on only on a budget airline, and take red-eyes or early morning flights.
  • Money Exchanging for Digital Nomads and expats: For exchanging money use Wise Which is the Best Option if you are a digital nomad and Expat. Wise is a cheaper solution to send, spend and receive money internationally rather exchanging money through other platforms like Paypal, Payoneer that cost a lot of money for exchange fees and rates.
  • Travel Insurance: We always have travel insurance monthly for international trips and living abroad. We STRONGLY suggest that you have it as well, just in case other digital nomads live abroad, and we always use SafetyWing for international travel insurance and medical concerns. They start at $42 a month! It’s incredible and always reliable! SafetyWing is perfect for Digital Nomads and long-term travelers!

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