Living in Madrid: cost of living, rent and salary
Updated 3 October 2026
In Madrid, a one-bedroom home costs about €660 a month. To keep the lifestyle of someone living in London, you need about €1,410 net a month. Here is the rent by type of home, the month’s budget line by line, and the sources.
Example: the same life, elsewhere
A single person living in London in a one-bedroom home, with the average spending of a similar household, spends about £3,350 a month. To keep the same life in Madrid, they would need about €1,410 net a month locally (−64%), i.e. 1.1 times the SMI.
For a couple with two children in a two-bedroom home (state school), it would take about €2,590 net a month in Madrid, i.e. 1.9 times the SMI.
Calculated on 3 October 2026 with the official averages of London and the destination’s prices. Yours depends on your city, home and habits: the calculator works it out in a few minutes, no sign-up.
Rent in Madrid
A one-bedroom home in Madrid costs about 72% more than the median of the 11 other cities tracked in the country.
| Type of home | Outside sought-after areas |
|---|---|
| Studio | €410 |
| 1 bedroom | €660 |
| 2 bedrooms | €960 |
| 3-bedroom house | €1,180 |
Monthly rent in EUR, outside the most sought-after areas. Studio 28 m², 1 bedroom 45 m², 2 bedrooms 65 m², house 95 m² where rent is known per m². Ministry of Housing (SERPAVI), from 2024 tax returns: median rent per m² in each municipality (flats, houses separately), updated with the Eurostat rent index (August 2026).
A month’s budget in Madrid, line by line
For a single person renting a one-bedroom home and keeping the average habits of a household in London, here is what each line would cost in Madrid.
| Item | London | Madrid | Madrid (EUR) |
|---|---|---|---|
| Housing | £2,550 | £570 | €660 |
| Housing tax | £50 | £0 | €0 |
| Electricity, water, gas | £100 | £90 | €100 |
| Groceries | £200 | £200 | €230 |
| Restaurants and outings | £110 | £90 | €100 |
| Transport | £100 | £50 | €60 |
| Health | £40 | £0 | €0 |
| Phone and internet | £50 | £60 | €70 |
| Sport | £60 | £50 | €50 |
| Clothes | £60 | £60 | €70 |
| Hairdresser and beauty | £40 | £30 | €30 |
| Trips back to London | £0 | £30 | €30 |
| Total per month | £3,350 | £1,200 | €1,410 |
Estimate: lines without an answer take the official average of the departure city, then the destination’s prices. The calculator starts from your real amounts.
Visa, healthcare, school, electricity
These rules are the same across the country: find them on the page Living in Spain.
Frequently asked questions
What salary do you need to live in Madrid?
For a single person keeping the same life as in London: about €1,410 net a month, i.e. 1.1 times the SMI.
How much is rent in Madrid?
About €660 a month for a one-bedroom home and €960 for a two-bedroom home, according to Ministry of Housing (SERPAVI), from 2024 tax returns.
Is it expensive to live in Madrid?
In London, a single person spends about £3,350 a month; with the same life in Madrid, it would be about £1,200 (−64%).