Who wouldn’t want to come to Madrid? It’s the Spanish capital, where everything happens and nothing stops. We love Madrid for its natural charm, for all the things you can do, the food, the weather, the people… What can I tell you that you don’t already know?

But there’s something to face: Madrid isn’t cheap. Does that mean it’s an expensive city? Well, it’s one of the great European cities, and that comes at a price, but if you do things right, it doesn’t have to be expensive.

That’s why we want to lend you a hand so you can plan your stay in Madrid in advance, budget your expenses, and get an accurate estimate of how much it would cost to spend a few months with us this year.

How much money do you need per month in Madrid as a student?

We’ll use last year as a reference, since it’s all over and we have the economic data to create this guide. According to reports, a student in Madrid last year needed between €1,250 and €1,600.

This varies depending on many factors, although the most decisive is perhaps the type of accommodation. Accommodation represents the highest expense, accounting for between 55% and 65% of total spending. This is followed by food at 20%, and transportation and leisure at another 20%.

The overall cost of living has risen by around 7% compared to the previous year, with the biggest increases seen in groceries and housing.

The rental market in 2026

Nationwide, average rental prices have risen to record highs. And if that’s the national average, you can imagine how high prices are in the capital.

Finding affordable rental accommodation, whether for vacations, long-term stays, or short-term student stays, has become a real challenge. It represents the largest percentage of your monthly budget.

From a room in a shared apartment, priced between €550 and €950, to a studio or small apartment, which starts at €1,110, if you’re lucky. What they all have in common are irregular expenses, such as monthly or quarterly bills for water, electricity, gas, and internet.

These bills have also increased, like everything else, and their cost depends on usage, except for internet. So you don’t have a fixed expense, but rather an estimate, ranging from €180 to over €250 per month. This isn’t exactly something that inspires peace of mind.

Food Prices in Madrid 2026

Food prices in Madrid remain cheaper than in other major European cities like London or Paris. To give you an idea, here are the average prices from last year:

1. Milk (1 liter): €1.15
2. Dozen eggs: €2.80
3. Chicken breast (1 kg): €8.50
4. Rice or pasta (1 kg): €1.45
5. Coffee in a café: €2.30 – €2.60

If you fancy a bite to eat out, we definitely recommend getting lost in the neighborhoods and alleyways where you’ll find the most traditional and affordable options. Last year, the average price of a “Menú del Día” (set menu), the best way to eat a lot, well, and cheaply during the week, was around €14 to €17. However, if you go out for a romantic dinner for two, you can be sure you’ll spend at least €70.

Public Transport in Madrid 2026

Enough with the bad news and overwhelming statistics. In Madrid, public transport works wonderfully and is quite affordable. Yes, you’ve found the best, most affordable option in Madrid.

The prices are designed for everyone. If you’re under 26, go for the Youth Pass, which lets you travel throughout the Community of Madrid by metro, train, and bus for just €20 per month.

If you’re over 26, the fares aren’t outrageously expensive like you might find in other European cities; it will cost you around €55 per month, while 10-trip passes are about €12.20.

Leisure, Health, and Sports in Madrid 2026

Well, it’s not all about studying and working. To give you an idea of ​​the average cost of the other variables in our monthly expenses equation, a gym membership typically costs around €45 per month, cinema tickets are around €11 (though they drop to €7 on discount days), and the world of museums is fantastic, offering various ways to get discounts or even free entry.

Price of a Shared Apartment vs. Student Residence

Concept	Shared Flat	Student Housing
Rent / Fee	700 €	1.350 €
Utilities (Electricity, Water, WiFi)	110 €	Included
Food	350 €	Included (Full Board)
Cleaning and Maintenance	40 €	Included
Gym and Study areas	45 €	Included
ESTIMATED TOTAL	1.245 €	1.350 €

Important note: These are fairly accurate estimates, but you should keep several nuances in mind. Although it’s not reflected here, remember that living in a residence hall eliminates things like buying bedding, furniture, and management fees, as well as saving time cooking, shopping, and putting away all the pans. That’s right, you don’t cook in a student residence.

Frequently Asked Questions (FAQs) about the cost of living in Madrid 2026

Is it possible to live in Madrid on €1,000 a month?

It’s possible, but you have to watch every euro, trying to save at every opportunity, cutting back on leisure activities, sharing an apartment with many roommates, and even having to find supplemental income with occasional jobs. With €1,000 a month, forget about going to big events in Madrid.

How much does a beer or a soft drink cost?

In Madrid, a small beer is practically nonexistent, and however little money you have each month, save some so you can have a beer with friends and interact with the locals. A small beer (caña de cerveza) usually costs between €2.50 and €3.50, depending on the neighborhood, area, and bar. Remember that in many places, a small beer comes with a free tapa.

Conclusion: Is it worth the investment?

Living and studying in Madrid is an investment that, if you have the opportunity, you should make. You should watch every euro and optimize your money, and you should start by living in a student residence in the centre of Madrid, like CATS Residence. Flat rate for expenses, stability, and peace of mind.

Want to know exactly how much it would cost to stay with us?

Write to us, and we’ll send you a personalized comparison based on your university’s location so you can see why a residence is the smartest option for 2026.