The accommodation hunt in Madrid is fierce: it’s especially competitive at the end of the summer and the beginning of autumn because of incoming students. Furnished 1-bedroom apartment with utilities (best for couples or families): €1,260.Furnished Studio with utilities (best for singles, couples, or new graduates): €1,101.Furnished Private Room with utilities (best for students): €808.Here’s an indication of the average monthly rent in Madrid based on our rental index 2022. So with a total of €1,520, you can afford to live in Madrid. For the accommodation, expect to pay at least €800 monthly. Without the rent, your monthly expenses will be €720 on average. To help you out, we’ve broken down the cost of living in Madrid into 4 essential categories:Īlthough the cost of living in Madrid is expensive in comparison to other Spanish cities like Seville and Valencia, it’s still more affordable than the other European capitals like Paris or Amsterdam. If you’re moving to this wonderful city to work or study, the best way to prepare is to create a budget by finding out how much it costs to live in Madrid. In fact, the capital of Spain ranks 4th among the best urban cities and 10th as the best place to live in the world. It's the ultimate Spanish destination to live in. Madrid offers everything for students and young expats From being warm and sunny all year round to having excellent public transport, high-quality education and endless job opportunities.
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