Is Madrid expensive? What things really cost in 2026
Short answer
Madrid is mid-priced for a Western European capital: cheaper than Paris, London or Amsterdam, a little cheaper than Barcelona, and pricier than most of southern Spain. A careful traveller can manage on about €85 a day, a comfortable mid-range trip is about €165, and most of the money goes on the bed rather than on food or sights.
Daily budget: backpacker, mid-range, luxury
| Budget | Mid-range | Comfort | |
|---|---|---|---|
| Bed (per person, sharing) | €45 | €85 | €180 |
| Food & drink | €25 | €45 | €90 |
| Sights & tickets | €10 | €30 | €45 |
| Local transport | €3 | €6 | €25 |
| Per person, per day | €83 | €166 | €340 |
Approximate 2026 prices, two people sharing a room. From our Madrid day-cost table.
What things cost
| Item | Typical price* |
|---|---|
| Coffee (café con leche) at the bar | €1.50–2.50 |
| Caña (small draught beer) | €2–3.50 |
| Vermouth on tap | €2.50–4 a glass |
| Slice of tortilla | €2.50–4 |
| Menú del día (3-course weekday lunch) | about €13–18 |
| Metro single / 10-journey card | €1.50–2 / about €12 |
| Prado Museum ticket | about €15 (free in the last two hours most days) |
| Taxi from the airport to the centre | fixed €33 (inside the M-30 ring) |
| Mid-range dinner for two with wine | €60–90 |
| 3★ double room, high season | €110–180 |
* Approximate prices, October 2026. They change with season and exchange rates.
Where the money goes
Accommodation is the big cost: a budget bed sharing a double is about €45 a night per person and a mid-range one about €85, and prices in Sol, Gran Vía and the Barrio de las Letras rise sharply at weekends and during trade fairs. Food is good value if you eat the way locals do, with the weekday menú del día at lunch and a few tapas with cañas in the evening (about €25 a day on a budget). Sights are cheap compared with other capitals because the big three museums all have free hours, so a careful traveller spends about €10 a day on tickets; transport is about €3 a day because the centre is walkable and the metro is inexpensive.
When it is cheaper
Hotel rates are usually lowest in January, February and especially August, when many Madrileños leave and business travel stops; expect roughly 20–30% less than in May or October, but check, because big trade fairs at IFEMA can push prices up in any month.
How to spend less
- Plan your museum days around the free hours: the Prado, Reina Sofía and Thyssen each have free evening or weekly slots, which can save about €40.
- Eat your main meal at lunch with the menú del día (about €13–18 for three courses with bread and a drink) instead of ordering à la carte at dinner.
- Drink at the bar, not the terrace: outdoor tables often cost more, especially on Plaza Mayor and around Puerta del Sol.
- Take metro line 8 (about €5 with the airport supplement) or the 24-hour Exprés Aeropuerto bus (about €5) instead of a taxi if you are alone or two.
- Buy a 10-journey card on a red Tarjeta Multi (about €12): it can be shared by several people and works on metro and buses.
- Book hotels in Lavapiés, Malasaña or near Atocha rather than right on Sol or Gran Vía, and avoid dates of big trade fairs or concerts.
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Common questions
How much money do I need per day in Madrid?
About €85 per person on a budget (sharing a budget double), about €165 mid-range and about €340 for comfort, including bed, food, sights and transport. A hostel dorm brings the budget figure down to about €60.
Is Madrid cheaper than Barcelona?
Usually a little: food and drink cost about the same or slightly less, and hotels are often cheaper, especially in summer. Madrid also has more free museum hours.
Do I need to tip in Madrid?
No. Service is included; locals leave small change or round up, and 5–10% in a restaurant is generous.