Budget · Madrid · Spain
Madrid on a budget
What a trip to Madrid really costs, and where the savings are.
Updated By the AMZBooking editorial team
Photo: Matt Joseph, CC BY-SA 4.0
Quick answer
Madrid is moderately priced for most international visitors. Budget roughly $70–$110 per person per day on a tight budget, $150–$260 mid-range and $400–$1,000 for luxury, excluding flights. Hotel prices are usually lowest in January–February and August.
Key facts
- Budget traveller
- $70–$110 a day
- Mid-range
- $150–$260 a day
- Luxury
- $400–$1,000 a day
- Local currency
- EUR
- Free sights
- 7
Daily budget and trip cost
AMZBooking estimates per person in US dollars, excluding flights, reviewed October 2026. Accommodation is the biggest variable; prices rise in peak months.
| Style | Per day | 3 days | 5 days | 7 days |
|---|---|---|---|---|
| Budget | $70–$110 | $210–$330 | $350–$550 | $490–$770 |
| Mid-range | $150–$260 | $450–$780 | $750–$1,300 | $1,050–$1,820 |
| Luxury | $400–$1,000 | $1,200–$3,000 | $2,000–$5,000 | $2,800–$7,000 |
Typical prices
Approximate prices in Madrid, October 2026. They change; use them for planning, not as quotes.
| Item | Typical price |
|---|---|
| Metro single ticket | about €1.50–€2 |
| Small beer (caña) | about €2–€3.50 |
| Churros con chocolate | about €5–€7 |
| Weekday menú del día | about €13–€18 |
| Tapa or pincho | about €3–€6 |
| Prado Museum ticket | about €15 |
| Dinner with wine at a mid-range restaurant | about €30–€50 per person |
Money-saving tips
- The Prado, Reina Sofía and Thyssen each have free-entry periods; check the museums' sites and expect queues.
- Eat the weekday menú del día at lunch for a three-course meal at a fraction of dinner prices.
- A 10-trip ticket on a transport card costs much less per ride than single tickets.
- The Retiro, Madrid Río, Temple of Debod, San Antonio de la Florida and El Rastro are free.
- August is often the lowest-priced month for hotels, though it is very hot and some restaurants close.
- Avoid restaurants with touts and picture menus around Plaza Mayor and Sol.
Free things to do
- Retiro Park — Madrid's 125-hectare former royal park, part of a UNESCO World Heritage Site with the Paseo del Prado since 2021, has a boating lake overlooked by the colonnaded monument to Alfonso XII, a rose garden, shaded avenues and the Fallen Angel fountain, said to be one of the few public statues of the devil.
- Plaza Mayor — Built in the early 17th century under Philip III, whose equestrian statue stands in the centre, this enclosed, arcaded square once hosted bullfights, coronations and executions.
- Puerta del Sol and Gran Vía — Puerta del Sol has the Kilometre Zero plaque, the Bear and Strawberry Tree statue that symbolises Madrid and the clock whose chimes lead the nation's New Year countdown.
- Temple of Debod — This genuine ancient Egyptian temple, dating from the 2nd century BC, was given to Spain in 1968 in thanks for help saving Nubian monuments from the Aswan High Dam, and was rebuilt stone by stone in Parque del Oeste.
- El Rastro — Madrid's open-air flea market has spread down Ribera de Curtidores and the surrounding streets on Sunday mornings for centuries, with stalls selling antiques, clothes, leather goods, records and bric-a-brac.
- San Antonio de la Florida — Goya painted the dome and vaults of this small neoclassical chapel in 1798 with a lively crowd of ordinary Madrileños watching a miracle of St Anthony.
Where to stay on a budget
$$ · Best for food lovers, nightlife and couples
La Latina
Medieval lanes, tapas bars on Cava Baja and the Sunday Rastro market
$$ · Best for nightlife, budget, solo travellers and shopping
Malasaña
Indie bars, vintage shops and brunch cafés around Plaza del Dos de Mayo
$ · Best for budget, solo travellers and food lovers
Lavapiés
Multicultural, working-class streets near the Reina Sofía
Eating well for less
- Churros con chocolate — Chocolatería San Ginés in a lane off Calle Arenal, serving since 1894, and traditional churrerías across the city.
- Calamari sandwich — Small bars in the streets around Plaza Mayor, such as Calle Botoneras and Calle de la Sal.
- Patatas bravas — Tapas bars across the city, especially in La Latina, Huertas and Malasaña.
- Croquetas — Tapas bars across the city; ask for the house croquetas (croquetas caseras).
Getting around for less
Public transport card
A rechargeable contactless card bought at metro stations, loaded with single journeys or 10-trip tickets usable on metro and buses.
Tourist Travel Pass
Unlimited travel on metro, buses and Cercanías for 1 to 7 days, with zones that can include the airport and some day-trip towns.
Paseo del Arte card
A combined ticket for the Prado, Reina Sofía and Thyssen-Bornemisza museums at a discount on separate entries.
Questions travellers ask
+How much does a trip to Madrid cost?
About $750–$1,300 per person for five days mid-range, excluding flights (estimate), or $350–$550 on a tight budget.
+Is Madrid expensive?
It is moderately priced for international visitors. The Prado, Reina Sofía and Thyssen each have free-entry periods; check the museums' sites and expect queues.
+How much money do I need per day in Madrid?
Roughly $70–$110 on a budget and $150–$260 mid-range (estimates).
+When are hotel prices lowest in Madrid?
Usually in January–February and August.