How Much Does Madrid Cost? 2026 Budget Guide | Prices & Tips
Madrid offers a balanced European capital experience where high-end luxury and affordable local culture coexist. While it is generally more affordable than Paris or London, travelers should plan for a daily budget ranging from $88 / €75 for budget-conscious solo trips to $530 / €450 for luxury stays. Costs are driven primarily by accommodation and fine dining, yet the city's extensive public transit and robust culture of affordable midday meals help keep daily expenses manageable. As of recent data, visitors can enjoy world-class museums and historic plazas without the heavy tourist taxes found in other Spanish hubs. The city remains a year-round destination, though mid-summer temperatures often exceed 40°C (104°F), occasionally leading to seasonal closures of smaller family-run establishments.
Is Madrid expensive to visit?
Madrid is a moderately priced capital—expect a daily spend of $88–$530 / €75–€450 depending on whether you choose hostel dorms or five-star luxury hotels.
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Daily Budget
How much to budget per person per day in Madrid
$88
per person /day
$218
per person /day
$530
per person /day
Trip Costs by Duration
Total estimated costs per person, excluding flights
| Trip Costs by Duration | Budget | Mid-Range | Luxury |
|---|---|---|---|
| 3-Day Trip | $265 | $653 | $1,589 |
| 5-Day Trip | $441 | $1,089 | $2,648 |
| 7-Day Trip | $618 | $1,524 | $3,708 |
per person — Excludes international flights
Budget Buffer
Recommended contingency for unexpected expenses
It is wise to add a 15% buffer to your daily budget to cover the $2.94 / €2.5 Multi Card fee and the common $1.18–$2.94 / €1–€2.5 'Pan y Cubierto' service charges in restaurants. This also accounts for the $0.59–$1.77 / €0.5–€1.5 terrace supplements frequently applied when dining outdoors in scenic plazas.
How Does It Compare?
See how Madrid stacks up against other popular destinations
What Things Cost
Real prices for common tourist expenses in Madrid
Food & Drink (3)
| Item | Price |
|---|---|
| Mid-range 3-Course Dinner for Two Excludes wine or service tips. Expect to pay ~$35 / €30 per person. | $71 €60 |
| Daily Lunch Menu (Menú del Día) A classic Madrid lunch deal usually includes a starter, main, drink, and dessert for ~$15–$21 / €13–€18. | $18 €15 |
| Pint of Local Beer (0.5L) A small 'caña' in a local bar usually costs between $1.77 / €1.5 and $2.94 / €2.5. | $4.71 €4 |
Transport (4)
| Item | Price |
|---|---|
| Airport Express Bus (Exprés Aeropuerto) Runs 24 hours a day from Atocha/Cibeles to Barajas Airport. Cash or contactless accepted. | $5.89 €5 |
| Taxi Flat Rate (Airport to City Center/M-30) Flat rate of $39 / €33 applies to all trips between the airport and any point inside the M-30 ring road. | $39 €33 |
| 10-Trip Metrobús Ticket (Zone A) Current price includes the government subsidy; normally $14 / €12. Requires a $2.94 / €2.5 Multi Card purchase. | $7.18 €6.1 |
| Single Metro Ticket Price varies from $1.77 / €1.5 to $2.35 / €2 depending on the number of stations traveled. | $1.77 €1.5 |
Accommodation (3)
| Item | Price |
|---|---|
| Dorm bed in central hostel (e.g., The Hat Madrid) Prices for popular hostels like The Hat or Sungate One typically range from $41–$59 / €35–€50 on weekends. | $45 €38 |
| Mid-range Hotel Nightly Rate (Catalonia Plaza España) Located in the city center. | $283 €241 |
| Luxury Hotel Nightly Rate (Palacio de los Duques) One of the top-rated 5-star hotels in the city. | $587 €498 |
Activities (4)
| Item | Price |
|---|---|
| Prado Museum General Admission Free entry Mon–Sat 18:00–20:00 and Sun 17:00–19:00. | $18 €15 |
| Royal Palace Guided Visit Includes the $9.42 / €8 guide supplement. Self-guided entry is $21 / €18. | $31 €26 |
| Reina Sofía Museum General Admission Home to Picasso's Guernica. Free hours available most evenings. | $14 €12 |
| Thyssen-Bornemisza Museum Permanent Collection Combined ticket for temporary exhibitions is usually ~$21 / €18. | $15 €13 |
Connectivity (1)
| Item | Price |
|---|---|
| Spain eSIM (20GB - 30 days) High-speed data on local networks. | $21 €18 |
Food & Dining
What to eat and what it costs
The dining landscape is anchored by the 'Menú del Día,' a fixed-price lunch typically costing $18 / €15 that includes three courses and a drink. While a mid-range three-course dinner for two averages $71 / €60, casual bar-hopping offers cheaper alternatives with local beers (0.5L) priced around $4.71 / €4 and smaller 'cañas' available for much less.
Cheap Eats
Where locals eat — real places, real prices
El Tigre Sidrería
$5.89–$12 / €5–€10Chueca · Local chain
Legendary for its free plates of croquetas and tortilla with every drink (~$5.89 / €5).
Takos Al Pastor
$1.77–$12 / €1.5–€10Sol · Street food
Expect a line for the best $1.77 / €1.5 tacos in the city center.
Casa Labra
$2.35–$9.42 / €2–€8Sol · Bakery
Grab a fried salt cod chunk (tajada) for ~$2.12 / €1.8 at the bar; a Madrid tradition since 1860.
Mercado de San Fernando
$4.71–$14 / €4–€12Lavapiés · Street market
The neighborhood alternative to the touristy San Miguel market.
100 Montaditos
$1.18–$12 / €1–€10Various · Local chain
Go on Wednesdays or Sundays when almost the entire menu is ~$1.18–$1.77 / €1–€1.5 per item.
Getting Around
Transport costs and the smartest ways to move
Public transport is highly efficient, with 10-trip Metrobús tickets costing $7.18 / €6.1 plus a one-time $2.94 / €2.5 Multi Card fee. For airport transfers, the Airport Express Bus is a budget-friendly $5.89 / €5, while a flat taxi rate of $39 / €33 applies to all trips into the central M-30 ring road.
Accommodation Overview
Travelers can find value in central hostels like The Hat Madrid for approximately $45 / €38 per night for a dorm bed. Mid-range hotels such as the Catalonia Plaza España average $283 / €241, while top-tier luxury at the Palacio de los Duques can reach $587 / €498 per night.
Accommodation Budget in Madrid
Budget
Hostels, budget hotels, shared facilities
Mid-Range
3-star hotels, boutique stays, great locations
Luxury
5-star hotels, suites, premium amenities
💡 Prices vary by season. Book 2-3 months ahead for best rates.
Money-Saving Tips
Insider tricks to stretch your budget further
- 1 Take advantage of free entry hours at the Prado Museum from 18:00–20:00 (Mon–Sat) and 17:00–19:00 (Sun) to save the $18 / €15 admission fee.
- 2 Order the 'Menú del Día' during lunch hours for a full three-course meal for approximately $18 / €15, as dinner menus are significantly more expensive.
- 3 Visit El Tigre Sidrería in Chueca where large plates of tapas are served for free with the purchase of a drink.
- 4 Purchase the 10-trip Metrobús ticket for $7.18 / €6.1 instead of multiple single tickets ($1.77–$2.35 / €1.5–€2) to save nearly 50% on transit costs.
- 5 Eat at the bar instead of the outdoor 'terraza' to avoid the 10% terrace surcharge common in busy areas like Plaza Mayor.
- 6 Look for Takos Al Pastor near Sol for some of the city's cheapest quick bites, with individual tacos often priced around $1.77 / €1.5.
- 7 Avoid the $1.18–$2.94 / €1–€2.5 'Pan y Cubierto' (bread and service) fee by politely declining the bread basket when it is placed on the table.
- 8 Utilize the Reina Sofía Museum's free hours on most evenings to see Picasso’s Guernica without paying the $14 / €12 entry.
- 9 Refill water bottles at the historic 'fuentes' (fountains) found throughout the city, which provide safe, free drinking water.
- 10 Visit 100 Montaditos on Sundays or Wednesdays when most small sandwiches and appetizers are discounted to a flat rate.
Seasonal Pricing
When prices rise and fall throughout the year
May, Jun, Sep, Oct
+25-40%
Jan, Feb, Nov
-30-50%
Apr, Oct
Madrid is a 'year-round' city, but mid-summer (July–August) is actually a 'low' season for hotels as locals flee the 40°C (104°F) heat, though some restaurants may close.
Events to Watch
- ● Madrid Pride (late June): +50% hotel rates
- ● Easter Week (Semana Santa): High prices
- ● Champions League matches: Extreme hotel spikes
Free Things to Do
The best experiences that cost absolutely nothing
- 1 Explore the 125-hectare El Retiro Park, including the rose garden and the lake.
- 2 Visit the Temple of Debod, an authentic 2nd-century BC Egyptian temple, especially popular at sunset.
- 3 Walk through the Palacio de Cristal, a stunning glass and iron structure located inside Retiro Park.
- 4 See Goya's impressive frescoes and his tomb at the San Antonio de la Florida Chapel.
- 5 Wander through the El Rastro flea market on Sunday mornings to experience the local atmosphere in La Latina.
- 6 Visit the Museo de Historia de Madrid to learn about the city's evolution through art and artifacts.
- 7 Admire the contemporary art installations and industrial architecture at Matadero Madrid.
- 8 Stroll along the Madrid Río Park, a massive urban green space following the Manzanares River.
- 9 Enter the Panteón de España to see the elaborate tombs of Spain's most famous political figures.
- 10 Visit the Museo de San Isidro to explore the archaeological history of the Madrid region.
- 11 Watch the changing of the guard at the Royal Palace (typically the first Wednesday of every month).
- 12 Explore the vertical garden at CaixaForum, a 24-meter-high living wall containing over 15,000 plants.
Worth the Splurge
Premium experiences that justify the price tag
Flamenco Show at Corral de la Morería
Widely considered the best flamenco stage in the world with Michelin-star food options.
Michelin-Star Tasting at Coque
A two-Michelin-star journey through a series of rooms (cellar, kitchen, dining room).
Bernabéu Stadium Tour (Premium)
The recently renovated stadium is a technological marvel; essential for football fans.
Popular Activities
Top-rated tours and experiences in Madrid
Day Trip Costs
Popular day trips from Madrid and what they cost
Toledo
$33 / €28 by train
$14 / €12
$77 / €65
Segovia
$34 / €29 by train
$12 / €10
$82 / €70
Payment & Money
How to pay and what to know about money
Euro (EUR)
1 € ≈ 1.18 $
No
Excellent; contactless is accepted even at small tapas bars and newsstands.
Leave small change or ~$1.18–$2.35 / €1–€2 at lunch; 5–10% at dinner is appreciated but not mandatory.
Use bank-owned ATMs (Santander, BBVA, CaixaBank). Avoid Euronet ATMs which charge ~$4.71–$8.24 / €4–€7 fees.
Connectivity
eSIM: $11–$22 for 10-20GB (opens in new tab)
Local SIM: $18–$24 / €15–€20 for high-data tourist plans.
WiFi: Excellent in libraries, malls, and most cafés. Metro wifi is hit-or-miss.
Get an Airalo eSIM or a local SIM from Orange (Mundo plan) which offers ~100GB for $24 / €20.
Why you can trust this guide
35+ countries • 8 years analyzing travel data
Independent developer and travel data analyst based in Prague. 35+ countries visited across Europe and Asia, 8+ years analyzing flight routes, accommodation prices, and seasonal weather patterns.
- All neighborhoods verified by walking them
- Curated locations based on walkability & safety
- Real-time availability via live partner maps
- Prices based on Booking.com & Numbeo averages
Methodology: This guide combines on-the-ground neighborhood research, current hotel pricing data, and real traveler feedback to provide honest, actionable accommodation recommendations for Madrid.
Updated: February 16, 2026
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