Cost of Living in Madrid: Updated Prices, Comparison with Other Cities

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cost of living in Madrid

Are you planning to pursue higher education in Madrid? Madrid has everything for students, a quality education, from being warm and sunny all year to having good public transportation, and abundant work options. Before making the move, it’s essential to understand the cost of living in Madrid to ensure you can manage your budget effectively.


If you are relocating here for your higher education and want to estimate the cost of living in Madrid. In that case, this guide will help you and give you a detail of the essential living expenses you will face when living in Madrid, and help you make an informed decision while planning the budget. Please keep reading to know more about the cost of living in Madrid.

Cost of Living in Madrid Overview

The average cost of living in Madrid for a single person is approximately EUR 2352 according to LivingCost Data. If we break down further and consider rent for a one-room apartment ranges from EUR 973 to EUR 1,800 per month. Food expenses are approximately EUR 599 per month, and transportation costs are around EUR 228 monthly. The overall cost of living in Madrid Spain can vary based on the chosen lifestyle, specific area, and preferences over things.

The cost of living in Madrid can vary based on factors such as accommodation type, food preferences, lifestyle choices, personal spending habits, etc. Here is a detailed overview of the average costs across various categories for those considering a move to Madrid:

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What is the Cost of Accommodation in Madrid?

Accommodation costs cover the major part of the cost of living in Madrid. So while planning your budget for Madrid, it’s crucial to include this cost. However, the cost of accommodation in Madrid varies based on several factors, including location, type of housing, and available facilities. Below, we outline three common types of accommodation in Madrid to help you make an informed decision.

Student Housing in Madrid

Student housing is a popular choice among students due to its convenience and comfort. These accommodations offer private rooms and essential facilities, creating a home-like environment. Below we have given the location and cost of student housing please have a look.

  • Location: Most student housing options are within 3 miles of the city centre, though some may be up to 20 miles away.
  • Cost of Student Housing: Ensuite/Studio ranges from EUR 407 to EUR 560 per month.

Private Apartments in Madrid

Private apartments are another excellent option, especially for those who prefer to live with friends. You can rent an entire apartment or share it to reduce costs. These apartments usually feature spacious rooms and modern amenities. See the private apartments in Madrid below:

  • Cost of Private Apartments: Renting a private apartment costs between EUR 973 and EUR 1,800 per month.

University Halls in Madrid

University halls are located on or near campuses and are built by universities. They typically include private bedrooms, shared bathrooms, kitchens, and common areas, offering a balanced mix of privacy and social interaction. This cost will not affect your cost of living in Madrid much. See the university halls in Madrid below:

  • University Halls Cost: Ensuite/Studio rooms range from EUR 500 to EUR 1,200 per month.

Choosing the right accommodation in Madrid depends on your preferences and budget. Whether you opt for student housing, a private apartment, or university halls, understanding the costs will help you plan your finances and make the most of your time in this vibrant city.

Cost of a Utility in Madrid 

Utilities in Madrid encompass a range of essential services that contribute to enhancing the quality of life. You can find the cost of a utility in Madrid is expensive. However, the services that are included in the utility of Madrid are electricity, water, heating, internet, waste management, etc. Understanding the cost of utilities can help students to manage their monthly expenses effectively.

The monthly utility cost for a one-bedroom apartment in Madrid could be around EUR 153. However, this cost depends on the type of services used and the size of the apartment. This cost can affect your overall cost of living in Madrid. The table below provides an overview of the average utility expenses in Madrid:

Utility TypeUtility NameApprox. Cost 
Basic Utility BillsWater, Electricity, Heating, etcEUR 153
Internet50 Mbps+, Unlimited Data, Cable/ADSL monthlyEUR 15.14
Mobile Phone Monthly Plan with Calls and 10GB+ DataEUR 32
Source: Numbeo

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Costs of Dining in Madrid

Madrid has a diverse restaurant scene that offers a variety of dining experiences, catering to all tastes and preferences. Whether you go for local cuisine or international flavours, dining out in this province is enjoyable and delicious. 

For students, regularly eating out can have a considerable impact on the cost of living in Madrid. Therefore, cooking at home is often a more economical choice. Here is a rough estimate of the average cost of a meal at restaurants in Madrid:

Type of Restaurant Approx Cost of Meal in Restaurant 
Lunch MenuEUR 19.2
Dinner in a Restaurant, for 2 personEUR 80.2
Fast food meal, equiv. McDonald’sEUR  13.6
CappuccinoEUR 5.46
Source: LivingCost

Cost of Grocery in Madrid

Madrid offers various options to suit every budget. If you’re looking to save money while buying high-quality products, the Mercado de la Cebada food market is a hidden gem. Located on La Latina Street, this market is open every day except Sundays. To avoid crowds, one can go early in the morning.

Additionally, Madrid has several discount stores like Mercadona and Lidl, as well as supermarket chains such as Carrefour and El Corte Inglés. Your meal preferences will significantly determine your grocery budget, and the grocery cost can affect the overall cost of living in Madrid Spain. Below is a table summarising the average grocery expenses in Madrid for those planning to cook at home:

Grocery ItemApprox Cost
Milk (regular), (1 liter)EUR 1.07
Loaf of Fresh White Bread (500g)EUR 1.55
Rice (white), (1kg)EUR 1.51
Eggs (regular) (12)EUR 2.82
Local Cheese (1kg)EUR 14.32
Apples (1kg)EUR 2.34
Banana (1kg)EUR 1.87
Oranges (1kg)EUR 2.03
Tomato (1kg)EUR 2.23
Potato (1kg)EUR 1.62
Onion (1kg)EUR 1.59
Lettuce (1 head)EUR 1.2
Water (1.5 liter bottle)EUR 0.87
Source: Numbeo

Transportation costs in Madrid

Madrid boasts an extensive and affordable public transport system, making it easy for students to get around the city. It covers, Buses, Metro, Commuter Trains, etc. This transportation system efficiently serves the needs of its population, ensuring connectivity and accessibility across the province.

Students can opt for a monthly subscription that covers both bus and metro travel. For those under 26, the Abono Joven subscription costs EUR 20 per month and provides unlimited travel across all zones. This way you can reduce the extra cost in the total cost of living in Madrid.

Transportation costs in Madrid

For your reference, we have given the average transportation cost in the table below so that you can estimate your transportation budget accordingly. Take an overview so that you can hang around the Madrid area comfortably:

Mode of TransportApprox Cost
Ticket for Monthly Pass in a Public transportEUR 59.3
Ticket for Local Public transport EUR 2.23
Local tariff for the Taxi Ride of 8 km EUR 19.1
1 L or 0.26 gal Gas / PetrolEUR 2.47
Source: LivingCost

Also read: Cost of Living in Regina: Food, Room Rent & Transportation

Miscellaneous Costs in Madrid

In addition to essential living expenses like housing, utilities, transportation and groceries, various miscellaneous costs may you bear after some time during your ideal time in Madrid such as a gym subscription, movie tickets, a pair of dresses, small doctor’s appointments, etc. These Miscellaneous expenses an expat should consider when managing their budgets for Madrid.

Miscellaneous expenses can vary depending on individual lifestyles and preferences but these expenses are important factors to consider in overall financial planning. You may require them at your ideal time after settling in Madrid properly. Please refer to the table below for a detailed list of these charges.

Miscellaneous Approx Cost 
Movie TicketEUR 10
Brand JeansEUR 99.8
Fitness ClubEUR 43.76
Brand SneakersEUR 115
Doctor’s visitEUR 98.4
Source: LivingCost

Cost of Living in Madrid Compared to Other Cities

The cost of living in Madrid is typically lower than in many Western European cities and countries but it is higher than in Eastern Europe cities. For instance, living in Madrid is in the top 28% of the most expensive cities around the world. This makes Madrid a desirable destination for students seeking a more budget-friendly European experience, while still benefiting from a high quality of life and strong public services.

So to give you an idea of ​​how the cost of living in Madrid compares to other cities like Ontario, Alberta, Manitoba, Toronto, and Edmonton. We’ve given the cost of living in other cities. Please have a look:

Cost of Living City WiseAverage Cost of living (including rent)Comparison with Cost of Living in Madrid
Cost of Living in the USAEUR 2240 Higher than Madrid
Cost of Living in LondonEUR 3057 Higher than Madrid
Cost of Living in BarcelonaEUR 1632 Higher than Madrid
Cost of Living in TorontoEUR 2371Higher than Madrid
Cost of Living in LisbonEUR 1560 Higher than Madrid
Cost of Living in New YorkEUR 3016Higher than Madrid
Cost of Living in DublinEUR 2497Higher than Madrid
Cost of Living in AmsterdamEUR 2343Higher than Madrid
Cost of Living in ValenciaEUR 1323Lower than Madrid
Cost of Living in BerlinEUR 1853Higher than Madrid
Source: LivingCost

Average Tuition Fees in Madrid

Madrid, Spain has consistently ranked as a top study destination for Erasmus students. It offers a rich cultural experience and stunning landscapes. Beyond its appeal to exchange students, Madrid is increasingly attracting full-degree students with its expanding range of English-taught programs, affordable tuition fees, and reasonable cost of living in Madrid.

Average tuition fees will vary depending on the program and institution you choose to study at. The average cost of fees for undergraduates and postgraduates is listed below. However, keep in mind that we only provide an average cost; you must confirm your tuition with the university of interest. 

Level of CourseTuition Fees
Undergraduate Tuition FeeEUR 6,000 – EUR 20,000 / Year
Post-Graduate Tuition FeeEUR 7,000 – EUR 25,000 / Year

Why Choose Madrid to Study Abroad?

Apart from understanding the average cost of living in Madrid, you must know why you should study abroad in Madrid. It is a sunny city that has a unique culture that is worth learning and experiencing firsthand. Before we see the cost of living in Madrid, here are some of the reasons why you should study abroad in this wonderful Spanish city.

  • Madrid’s universities are well-known throughout the world for their quality education prowess. Furthermore, living and studying in Madrid will look fantastic on your resume.
  • The opportunity to experience the Spanish way of life in Madrid is motivation enough to visit! The slower pace of life allows you to cultivate stronger interpersonal bonds.
  • It comes as no surprise that Spanish is the most widely spoken language in Spain’s capital. While many people speak English, staying in Spain will greatly improve your Spanish skills.
  • Madrid offers a comfortable climate in which to savour all the greatest aspects of Spanish life, with notably pleasant weather in the spring and fall.
  • Thanks to programs geared to match the demands and expectations of many businesses, Madrid provides a good opportunity to study and get the necessary skills for a successful professional path.  

Things to Consider Before Moving to Madrid

Apart from getting a knowledge of the cost of living in Madrid, one should consider a few things before moving there. In fact, the Spanish capital is ranked 4th among the best urban cities and 10th among the best places to live in the world. To assist you in settling in as a new student here, we’ve compiled a list of the top 7 things to remember when studying in Madrid that could make your student life in Madrid more comfortable, cost-effective, and full of unforgettable moments. 

Do not Purchase Individual Transport Ticket

If you’re intending to take public transportation in Madrid, don’t buy individual tickets. A 10-trip ticket is available for purchase at any metro station machine and can be used on both the metro and buses.

If you plan on being in Madrid for an extended period of time and utilizing public transportation frequently, the seasonal or yearly ticket is the ideal option for you. The seasonal ticket costs €20 per month and is exclusively available to passengers aged 26 and under.

Keep a Check on Free Walking Tours

When visiting a new city, taking a walking tour is one of the greatest ways to become acquainted with places to eat, museums to visit, and gorgeous parks to wander in. However, if you’re on a tight budget, guided trips can be prohibitively pricey.

Fortunately, the tourism office conducts FREE walking tours that depart from Plaza Mayor on a regular basis, and the informed interpreters have excellent ratings!

Don’t Pay for the Gym

Don’t pay for an expensive gym if you enjoy sports or maintain a fitness regimen. Most universities feature sporting facilities that you can use at a student discount. You can also join sports teams for football, rugby, basketball, and other sports.

If you prefer to be outside, Madrid boasts a plethora of parks, with most areas having at least one. 

Special Discounts for Students

One of the main reasons people love Madrid is its captivating culture. There is never a shortage of fascinating museums, art galleries, or travelling exhibitions. However, if you want to spend an afternoon viewing ancient textiles or discovering the next local artist, don’t get tickets right away.

Students in Madrid can take advantage of numerous unique deals. The Prado Museum, for example, is completely free provided you produce your student ID. Many other museums provide discounted or free admission days. If you’d rather go to the movies, go on a Tuesday because it’s a little cheaper than the rest of the week.

Live in Student-Friendly Neighborhoods

As a new student in Madrid, you may not know where to reside. Madrid features a number of affordable, active, and student-friendly neighbourhoods. Sol, Malasaa, Lavapiés, Cheuca, and La Latina are a few examples. Just attempt to hunt for housing as soon as possible because the capital city is popular and housing is scarce.

Rent a Bike Instead of Buying One

Madrid is a vast city, yet the city centre is simple to navigate. The majority of Madrid inhabitants go by bike from one side of the city to the other, making it an ideal option for you to get around like a native while saving money.

Consider renting a bike rather than purchasing one when considering biking as your primary mode of transportation. Madrid has an excellent bike rental system, with outlets all around the city. The rental rates are inexpensive, and the ease of being able to pick it up or drop it off at multiple locations is invaluable.

Befriend People in Clubs

If you want to go out and explore some of Madrid’s many popular nightclubs, the entrance fees might quickly pile up, especially if you have to order full-price beverages.

One suggestion is to be kind to or make friends with bartenders, local DJs, bouncers, or those in charge of promotions at large clubs. If you’re on a tight budget, any form of discount, whether it’s at the door or off your bill at the end of the night, can assist.

Must Read: Cost of Living in Barcelona: A Guide

Conclusion on Cost of Living in Madrid

With the aforementioned factors in mind, you should estimate your spending budget while travelling/ shifting to Madrid. While you could probably pay more, this is a reasonably cautious estimate for someone on a tight budget looking to live/ travel to Madrid.

To summarize, the average monthly cost of living in Madrid is EUR 1589. This, of course, is dependent on a variety of circumstances, including whether you divide the cost of rent and utilities, where you live in the city and your dining and socializing habits.

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FAQs on Cost of Living in Madrid

Q1. What is the cost of living in Madrid Spain?

Answer: The monthly average cost of living in Madrid for a single person is roughly EUR 1589, which includes rent. The estimated cost of housing rent in the city ranges from EUR 741 to EUR 1029.

Q2. What is the average rent in Madrid, Spain?

In Madrid, Spain, the average rent for a 1-bedroom apartment varies depending on its location. In the city centre, a typical 1-bedroom apartment rents rent is about EUR 1800 per month. For those seeking more affordable options outside the city centre, a similar 1-bedroom apartment costs approximately EUR 973 per month.

Q3. How expensive is living in Madrid?

Answer: The monthly average cost of living in Madrid for an international student is roughly EUR 1589, which includes rent. The living cost can vary based on location, and preferences.

Q4. Is Madrid or Barcelona cheaper?

Ans: The average cost of living in Madrid, including rent, is around EUR 1589 per month for one person. Meanwhile, in Barcelona, it’s around EUR 1632 per month for one person. This shows that living in Madrid is cheaper than in Barcelona.

So, this was all about the cost of living in Madrid. Many Indian students dream of pursuing education in foreign nations due to the exposure and career growth they offer. Consider joining a free counselling session with Leverage Edu if you plan to study abroad.

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