Cost of Living in Madrid for Students 2026/27: How Much Money Do You Really Need?

Thus, you are considering studying in Madrid. Perhaps you have already envisaged yourself drinking café con leche in Plaza Mayor, and enjoying late-night churros run after studying in libraries for a long time. All these dreams are great. However, let’s discuss about money issues, something that worries students at nights.

Let’s face the reality. While it is rather expensive to live in Madrid, it is definitely nowhere near the scary costs of living in London or Paris. It is the most expensive city in Spain, and still, it is not as frightening as other major European capitals. Nowadays, students pay between €1,200 and €1,850 each month. The range varies depending on your lifestyle, the choice of the type of housing, and, of course, how well you can resist your cravings to enjoy tapas every day.

However, it is possible to manage your cost of living in Madrid. There are over 300 thousand students studying in this city, and thousands of foreign students’ study there each year. They can handle it, and you will be able to do it too. Our guide will show you all the expenses you should count on, including student accommodation Madrid and metro pass, food and unexpected costs, as well as income from part-time jobs.

Now it is time to forget about guesswork and start calculating your costs of living in Madrid. Use our Cost of Living Calculator to calculate your expenses and choose the best student accommodation Spain for you.

Cost of Living in Madrid Average Monthly Expenses

Enough with introductions. The cost of living in Madrid ranges between €1,200 and €1,850 for students. Here is your starting point.

The biggest part of the budget goes on housing, approximately 50-60%. Students who rent cheap student accommodation Madrid spend significantly less money than those, who prefer private studio apartment Madrid. International student living cost in Madrid depends on whether you are going to cook yourself or spend your money on meals every day.

Here is a realistic monthly breakdown for a typical student in 2026:

NOTE: These figures cover a balanced student life. If you cook at home, share housing, and use student discounts, you can keep your cost of living in Madrid closer to €1,200. Want a personalised estimate? Use the Cost of Living Calculator from University Living.

Student Accommodation Costs in Madrid

Housing will always be your biggest expense. That is just the reality of living in a capital city. But here is the Madrid advantage: you get far more value for your money than in London or Paris.

Most international students prefer purpose-built student accommodation (PBSA) – and for good reason. These are secure, fully furnished, and often come as all-inclusive student accommodation in Madrid. No surprise bills. No flatmate drama about electricity. Just one monthly payment and peace of mind. This all-inclusive model makes managing your cost of living in Madrid far simpler.

The average rent in Madrid for students ranges from €546 to €1,910 per month, depending on the property type and location. That is a wide range, but it means there is something for every budget, whether you are looking for a shared room or a private studio.

Types of Student Accommodation in Madrid

Finding the best student accommodation in Madrid for international students is about matching your budget with your lifestyle. Here are your options:

Purpose-Built Student Housing (PBSA)

Consider PBSA to be the “ready-to-move” accommodation. Modern buildings, specially designed for the students, fully furnished, with study lounges, gyms and common areas. Most of the properties on University Living are PBSA properties. Monthly rent for PBSA is €800 – €1,200. With such accommodation, your cost of living in Madrid becomes predictable.

• Studio Apartments: This is your personal place of retreat. In a studio apartment you will have your own bedroom, kitchenette and bathroom. Ideal choice for postgraduates, couples or students who appreciate peace. Monthly rent for studio apartments Madrid is €900 – €1,500+. Higher rent is compensated by lower utility costs in terms of your cost of living in Madrid.

• En-suite Rooms: This is your perfect match in the Goldilocks manner. Your own bedroom with a private bathroom and shared kitchen and living area. Popular choice among international students. Monthly rent is €700 – €1,100. Good choice for balancing your cost of living in Madrid and still enjoying social life.

• Non-Ensuite Rooms: This is the winner in the budget race. Your personal bedroom with sharing kitchen, bathroom and living room. Cheapest choice and fast track to friendship. Monthly rent €550 – €850. Recommended if your budget for cost of living in Madrid is limited.

• Shared Apartments: For the social animal. Everything is shared: bedroom, bathroom, kitchen and living room. Most economical choice and immediate community formation. Starting price for monthly rent is €546. Most efficient way to cut down on your cost of living in Madrid.

Private Apartments

This is for an independent personality. Ordinary residential apartments rented from the landlord directly. All freedoms and no restrictions but all utilities are paid for separately. Monthly rent is €1,000 – €1,910+. This choice requires good budget management skills and might affect your cost of living in Madrid negatively.

Accommodation Cost Comparison Table

Here is the table with a quick overview of monthly costs in Madrid for students depending on housing type. This will help you evaluate the impact on your cost of living in Madrid:

Best Areas for Students to Live in Madrid

Where you live in Madrid is about more than rent. It shapes your entire experience. The city has distinct neighbourhoods, each with its own personality. Your choice will significantly impact your cost of living in Madrid.

Budget-Friendly Areas (€550 – €850 per month)

1. Lavapiés

• Rent Range: €550 – €850 per month

• Nearest University: Close to Aula Creactiva and Complutense University

• Transportation: Metro Lines 3 and 5, close to Atoche station

• Atmosphere: Multicultural, artistic, and vibrant. Lavapíes is famous for its diverse restaurants, community events, and spectacular views of the city. It is one of the most affordable central districts.

• Students Hangouts: Plaza de Lavapiés, Mercado de San Fernando, independent tapas bars

2. Moncloa-Aravaca

• Rent Range: €600 – €900 per month

• Nearest University: Complutense University of Madrid (walking distance)

• Transportation: Metro Lines 3, 6, and 7, good connections with buses

• Atmosphere: Near top universities with a quiet and student-oriented district. There are both student residences and shared flats close to the green areas. It is perfect for the student lifestyle.

• Students Hangouts: Parque del Oeste, cafes, university bars

Mid-Range Areas (€700 – €1,100 per month)

3. Malasaña

• Rent Range: €700 – €1,100 per month

• Nearest University: Central location with the access to all universities

• Transportation: Metro Lines 1, 2, 3, and 10

• Atmosphere: The centre of Madrid. Famous for creative vibe, vintage shops, cafes, and student-friendly nightlife. A strong social student community and many affordable places to eat.

• Students Hangouts: Plaza del Dos de Mayo, La Bicicleta Café, many tapas bars

4. Chamberí

• Rent Range: €750 – €1,150 per month

• Nearest University: Central and well-connected

• Transportation: Metro Lines 1, 2, 4, 5, 6, 7, and 10

• Atmosphere: Safe and quiet district. Chamberí provides a comfortable balance of residential tranquillity and central location. There are traditional cafes, local markets, and good studying spots everywhere.

• Students Hangouts: Mercado de Chamberí, cafes, quiet parks

Premium Areas (€900 – €1,500+ per month)

5. Salamanca

• Rent Range: €900 – €1,500+/month

• Nearest University: Central location, well-connected

• Transportation: Metro Lines 4, 5, 6, 9, and 10

• Atmosphere: Most expensive and upscale district of Madrid. Famous for luxurious boutiques, architectural landmarks, and fine dining. It is perfect for students who prefer premium lifestyle.

• Students Hangouts: Calle Serrano, El Retiro Park (nearby), upscale cafes

Popular Student Accommodation Options in Madrid

Choosing the right place to live in Madrid can be a daunting task. However, here is a list of popular and verified student accommodation Madrid options genuinely loved by international students:

1. Livensa Living Madrid Getafe

• Starting at: €735 per month

• Room Types: En-suite, studios

• Best for: Students looking for modern and all-inclusive residences

• University Nearby: 8.45 miles from city centre. Suitable for southern universities.

• Main Facilities: Air conditioning, bicycle parking, catering options, no visa no pay

• Why students choose it: Great value for money for all-inclusive and modern residence.

2. Livensa Living Madrid Alcobendas

• Starting at: €1,080 per month

• Room Types: En-suite, studios

• Best for: Students looking for luxury and co-working spaces

• University Nearby: 10.19 miles from city centre.

• Main Facilities: Cinema room, co-working space, bicycle parking, no visa no pay

• Why students choose it: Students appreciate cinema and co-working space in this residence

3. Oria

• Starting at: €1,150 per month

• Room Types: Studios

• Best for: Students looking for private but also resort-like facilities

• University Nearby: 3.30 miles from city centre.

• Main Facilities: Swimming pool, spacious hub, furnished, flexible payment plans

• Why students choose it: Very rare thing in student housing – swimming pool, especially in hot Madrid summer.

4. Livensa Living Madrid Aravaca

• Starting at: €1,379 per month

• Room Types: Studios, en-suite

• Best for: Students looking for quiet and green environment

• University Nearby: 5.54 miles from city centre, close to Moncloa-Aravaca.

• Main Facilities: Air conditioning, bicycle parking, no visa no pay, no university no pay

• Why students choose it: Aravaca is green and quiet place, but at the same time well connected to city centre.

5. Príncipe Pío

• Starting at: €925 per month

• Room Types: Studios, en-suite

• Best for: Students who like to live nearby to the city centre and big transport hub

• University Nearby: 1.18 miles from city centre, close to Moncloa.

• Main Facilities: Rooftop terrace, gym, study areas, bills included

• Why students choose it: Amazing location – Príncipe Pío is a big transport hub.

Need a perfect student accommodation in Spain for international students? University Living will help you to choose and book a verified home in Madrid.

Food & Grocery Costs in Madrid

Now here is the biggest secret which will save you hundreds of euros per month: learn how to cook. The culinary scene in Madrid is one of the best in the world, but going out to eat every day will drain your student budget in Madrid quickly.

Food costs in Madrid for most students vary between €150 to €250 per month. If you know where to buy food and how to cook, you will be able to keep the cost of living in Madrid on the lower side.

Cheap grocery shopping in Madrid:

• Mercadona, Lidl, and Aldi: These are the cheapest supermarkets for the budget student in Madrid. Good for fruits and vegetables as well as pantry items.

• Carrefour and Dia: Medium priced supermarkets, have great weekly offers.

• Local markets: Mercado de San Fernando (Lavapiés), Mercado de Chamberí, and Mercado de San Miguel, provide fresh products and experience

• Fruterías: Local supermarkets, selling only fruits and vegetables, can be cheaper than bigger supermarkets.

Food discounts for students:

• UNiDAYS & Student Beans: Discounts at restaurants and delivery apps.

• Too Good to Go: Leftovers of the cafes and restaurants, at the price of up to 70%.

• Menu del día: Three course lunch in most restaurants, from €10 to €15.

Cheap food experiences in Madrid:

• Tapas bars: Free tapas with drinks. Order a caña and get a little plate of something free of charge.

• Churrerías: Have churros con chocolate for breakfast. Only a couple of euros to have a nice breakfast.

• Mercado de San Fernando: International food stands in Lavapiés.

Here is how the cost of food in Madrid typically breaks down:

Pro tip: Meal prep on Sundays. A few hours of cooking can save you €50+ every month. This is one of the most effective ways to reduce your cost of living in Madrid.

Save big on food in Madrid with student discounts and smart home cooking.

Transportation Costs in Madrid

Madrid has the best public transport system in Europe. The transportation cost in Madrid for students varies between €100 and €150 per month and it can be much cheaper with student discounts.

Student travel in Madrid:

• Abono Joven: The best student deal in Madrid. All metro, buses and Cercanías in Madrid cost you only €20 per month if you are under 26 years old. Yes, really, it is not a typo.

• Metro de Madrid: Big network covering all major student zones. Main stops are Moncloa, Sol, Ciudad Universitaria.

• Buses: Good coverage of the city, even those areas which do not have metro line. Night buses (Búhos) work after midnight.

• Cercanías: Commuter trains connecting suburbs and other cities near Madrid. The best option for traveling long distance.

• Metro Ligero (Light Rail): Trams which are working on the short routes in the outer districts.

Student travel discounts:

• Abono Joven: €20 per month for unlimited travel (under 26).

• Tarjeta de Transporte Público: Rechargeable card for all public transport.

Here is your monthly transport breakdown:

Pro tip: If you are under 26, the Abono Joven is an absolute steal. Live anywhere on the metro network and travel unlimited for €20. This dramatically reduces your cost of living in Madrid.

Book seamless airport pickup from Madrid-Barajas Airport with ULInfinity and start your Madrid journey stress-free.

Utility, Internet & Mobile Expenses in Madrid

In Madrid, air conditioning in summer and heating in winter can add up. That is why many students choose all-inclusive student accommodation in Madrid. This approach makes managing the cost of living in Madrid much simpler.

If you rent a private apartment, here is what utility bills in Madrid look like:

Mobile tips for international students:

• Spanish mobile companies Movistar, Orange, Vodafone, or Yoigo with student discounts; monthly costs from €10-€20

• Low-cost plans with international calls from Lowi, Digi, or Pepephone for €8-€15 per month

• ULInfinity International SIM, start with data when you land, no need to look for a store after a long flight

Use international student SIM plans from ULInfinity to keep in touch with your loved ones

Part-Time Jobs & Student Income in Madrid

It may completely change your budget; you have the right to work for 20 hours a week with a special permit. Working part-time is a good option to make your living expenses in Madrid manageable.

Average student part-time wage in Madrid is €10-15 an hour or more than minimum Spanish wage (SMI) is €1,134 per month;

Part-time jobs in Madrid for Students:

• Hospitality: €10-13 + tips an hour. Restaurants, cafes, and bars in Malasaña and Lavapiés

• Retail: €10-12 an hour. Shopping centres and city centre shops.

• Tutoring: €15-25 an hour. English tutors are in high demand in Madrid.

• Campus jobs: €11-14 an hour. Librarian assistant, research assistant, tourist guide

• Delivery: €10-15 an hour. Ride with Uber Eats, Glovo, or Deliveroo.

Your earning potential:

Can part-time work cover your living costs? Partially, yes. A student earning €12/hour for 20 hours/week makes about €960 per month. That can cover your rent in a shared apartment (€546-€800) plus food and some social life. This significantly reduces your cost of living in Madrid.

Where to find student jobs:

• Your university’s career portal

• InfoJobs, Indeed España, and StudentJob

• Walking into shops and restaurants with a CV

• Unitemps: A student temp agency

Hidden Costs Students Often Miss

These are the expenses that no one warns you about. They catch every international student off guard. But not you, because you are reading this.

Here is what to budget for beyond rent and groceries:

Pro tip: Set aside €500-€700 before you arrive for one-time setup costs. Your first month will be expensive. Plan for it.

Secure your journey abroad with trusted student support services from ULInfinity

Top Universities in Madrid

Madrid is home to some of the most prestigious institutions in the world. Every year, millions of students apply to Spanish universities in Madrid. These institutions are highly regarded in the corporate world, and graduates have huge career prospects.

1. Complutense University of Madrid

As one of the most respected universities of Spain, Complutense has always attracted international students. This place hosts different educational programs in humanities, science, and social sciences. Complutense’s Moncloa campus is a full-fledged city. The need for student accommodation near Complutense University is huge, so do not wait to book your place there!

2. ESIC Business & Marketing School

ESIC is one of Spain’s leading business schools that specializes in marketing, business, and digital innovation. Due to its numerous connections with the industry, it offers great career opportunities for its graduates. The cost of living in Madrid for ESIC students with shared housing is rather affordable.

3. University of Alcalá (UAH)

UAH is another Spanish university situated near Madrid. It is famous for its UNESCO World Heritage campus and great programs in Humanities, Engineering, and Health Sciences. The cost of living in Madrid and surrounding regions is quite low.

There are other respected universities such as National University of Distance Education (UNED) and King Juan Carlos University (URJC). They attract many international students to study in Madrid.

Smart Approaches to Lower Your Cost of Living in Madrid

It is not about frugality to live in Madrid on a student budget. Here is how students reduce their cost of living in Madrid

• Share housing: Sharing an apartment in Lavapiés can significantly decrease your rent and reduce it to €550/month. This is a huge saving!

• Book early: The best student accommodation in Madrid goes in March-April before September admission. Book your place and save €50-€100/month!

• Live near campus: There is no need to spend money on transport if your student accommodation near Complutense University is in Moncloa

• Choose all-inclusive rent: Do not worry about additional utility payments. Usually, all-inclusive student accommodation in Madrid provides Wi-Fi, electricity, water, and heating services.

• Cook at home: Week of home-cooked food will cost you €25-€35. It will cost you the same to eat out once or twice a week

• Use the Abono Joven: It is €20/month for unlimited travel if you are younger than 26 years.

• Use student discounts: Get 10-50% off everything with UNiDAYS, Student Beans, and your student ID!

• Buy used goods: Second-hand furniture, textbooks, and kitchen appliances are available at Wallapop, Facebook Marketplace, and charity shops.

• Walk everywhere: Madrid is small and walkable, so walk as much as you can.

• Use the Cost of Living Calculator: Make calculations in advance before you move.

Is Madrid Affordable for International Students?

The honest answer: Yes, absolutely. Madrid is one of the most affordable major capital cities in Europe. The cost of living in Madrid is significantly lower than London, Paris, or Berlin.

If you share an apartment in Lavapiés, cook most meals at home, and use the Abono Joven, you can live comfortably on €1,100-€1,300 per month.

If you want a private studio in Malasaña, eat out regularly, and explore the city, budget €1,500-€1,800 per month.

Here is how the cost of living in Madrid compares to other major European student cities:

Madrid rewards those who plan. Choose your student apartment in Madrid wisely, and the city will reward you with a quality of life that is hard to beat.

Conclusion

When people think about Madrid, most think about how the city combines the atmosphere of an upscale capital of Europe and student-friendly city at once. Thousands of foreigners come to study here each year to enjoy the fact that living in Madrid costs a lot less than in other popular destinations like London or Paris.

Indeed, you would have to pay some amount of money for housing. Indeed, it would be wise to budget some additional expenses during the summer to use the air conditioning properly. However, when comparing with the cost of living in London, Paris or other capitals, Madrid will be way cheaper, and you’ll have extra cash left to go clubbing in Malasaña or grab some churros at a café.

And with University Living, searching for student accommodation Spain becomes easy as pie. With ULInfinity, the rest of the issues, including international SIM cards and airport transfer become a non-issue too.

So, the fact is, Madrid is affordable. Madrid is vibrant. Madrid is welcoming. And with the right attitude and proper student accommodation Madrid will be totally worth it.

Curious about your new life in Madrid? Browse verified student properties near Complutense University and other universities with University Living.

Frequently Asked Questions