Cost of living in Madrid — is your salary enough?
Madrid median rent reached €1,200/month in 2023, among Spain's highest but well below Western European peers. Madrid's mid-income earners face a moderate housing burden; savings benchmarks are achievable at typical professional salaries.
Rent in Madrid
Other monthly costs
How different incomes stack up
At typical Madrid costs (€1,200 rent)
See your personal verdict for Madrid
Cost figures are estimates based on reported median rents and typical spending patterns. Savings benchmarks from INE Encuesta de Presupuestos Familiares 2022. Figures in EUR.
Frequently asked questions — Living in Madrid
How much does it cost to live in Madrid?+
Core monthly costs in Madrid run about €2,300 — roughly €1,200 for rent and €1,100 for other living expenses (food, transport, utilities, basics). Madrid median rent reached €1,200/month in 2023, among Spain's highest but well below Western European peers.
What is the median rent in Madrid?+
The median rent in Madrid is around €1,200 per month. Madrid is classified as a high cost cost-of-living city in Spain.
What salary do you need to live comfortably in Madrid?+
Using the 70%-rule (core costs ≤ 70% of gross), you need roughly €39,429 per year before tax to live comfortably in Madrid. That leaves room to hit the 10% savings benchmark for Spain.
Is Madrid expensive compared to the rest of Spain?+
Madrid sits in the high cost tier within Spain. Madrid's mid-income earners face a moderate housing burden; savings benchmarks are achievable at typical professional salaries.
How much of your income should rent take in Madrid?+
The standard rule is no more than 30% of gross income on rent. At €1,200/month in Madrid, that means a gross income of at least €48,000 per year to stay under the 30% threshold.
Can you still save money living in Madrid?+
Yes — the Spain benchmark for mid-income earners is 10% of gross income. In a high cost city like Madrid, hitting that rate is tighter but achievable with disciplined budgeting.
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