Madrid is Spain's vibrant capital and largest city, a metropolis of world-class art museums, grand boulevards, lively plazas, and an electric nightlife that never sleeps. As the Autonomous Community of Madrid, the region combines the cosmopolitan energy of the city with green sierra mountains, historic royal towns, and charming villages within easy reach.
Local currency: Euro (€).
Daily budget by traveller style
Typical per-person daily spend in Madrid.
Cost breakdown
Typical price ranges across major spending categories.
Accommodation
- Hostel
- €18–€30 (dorm bed in a quality social hostel)
- Budget
- €50–€75 (budget hotel or guesthouse, private room)
- Midrange
- €90–€160 (3–4 star hotel, central)
- Luxury
- €220–€600+ (5-star hotel; Ritz/Four Seasons)
Food
- Street
- €3–€6 (bocadillo de calamares, churros, montadito)
- Local
- €10–€15 (Menú del Día set lunch — best value in the city)
- Midrange
- €25–€45 (sit-down restaurant with wine)
- Fine
- €90–€400+ (Michelin tasting menu with pairing)
Transport
- Bus
- €1.50 single (metro/bus); Tarjeta Multi 10-trip card €12.20
- Taxi
- €8–€15 (average city ride); base fare €2.40 + €1.05/km
- Airport
- €30–€40 taxi to/from Barajas; €5 metro Line 8 + supplement €3
- Daytrip
- €10–€25 round-trip by RENFE train (Toledo, Segovia, Aranjuez)
Activities
- Museum
- €3–€15 (Prado €15, Reina Sofía €12, MAN €3)
- Sites
- €0–€13 (Templo de Debod free; Royal Palace €13)
- Tour
- €0–€25 (free walking tours tip-based; paid tours €15–€25)
- Excursion
- €30–€60 (organised day trip to Toledo or Segovia with transport)
Trip budgets by length
What a typical trip to Madrid costs end-to-end.
Budget traveller
€350–€400 for 7 days (hostel + Menú del Día lunches + free museums + metro)
Midrange traveller
€840–€1,050 for 7 days (3-star hotel + mixed dining + some paid tours)
Luxury traveller
€2,500–€5,000+ for 7 days (5-star hotel + Michelin dining + private tours)
Money-saving tips
Practical ways to stretch your budget further.
Use the Tarjeta Multi 10-trip metro/bus card (€12.20) instead of buying single tickets — saves up to 40% on transport
Always eat the Menú del Día (set lunch) — €10–€15 for three courses with wine in locals' restaurants is outstanding value
Visit major museums during free entry hours (see specific times above) to save €10–€15 per person
Buy a Tourist Travel Pass (Abono Turístico) for 3, 5, or 7 days of unlimited metro and bus travel — worthwhile for longer stays
Book accommodation in Lavapiés, Malasaña, or Huertas rather than Sol/Gran Vía for 20–30% savings with same central access
Eat your main meal at lunch (almuerzo) — the same restaurant serving a €45 dinner often offers a €12 set lunch menu
Use Lidl, Mercadona or Día supermarkets for picnic supplies — ideal for Retiro Park lunches
Free walking tours depart Puerta del Sol daily at 10:00 and 12:00 — tip €5–€10 if you enjoy it
The Madrid Card (€67 for 3 days) includes unlimited metro and 50+ museums — only worthwhile if you plan to visit many paid attractions
Bocadillo de calamares from bars near Plaza Mayor costs €3–€4 and is one of Madrid's most authentic and filling snacks
Free things to do
Memorable experiences that cost nothing.
Retiro Park
125-hectare UNESCO-listed park with Crystal Palace exhibitions, rowing lake, and street performers — completely free
Templo de Debod
Ancient Egyptian temple in Parque del Oeste with stunning sunset views — free admission
Gran Vía Architecture Walk
Stroll along Madrid's iconic boulevard admiring the spectacular early 20th-century architecture at no cost
Plaza Mayor and Surrounding Alleys
Explore Madrid's grandest square and the medieval network of streets and archways beneath and around it
Madrid Río Park
33-km riverside park with cycle paths, playgrounds, beaches, and spectacular bridge views along the Manzanares
Prado Museum (free hours)
Free entry every day Mon–Sat 18:00–20:00 and Sunday 17:00–19:00 — plan accordingly
Reina Sofía Museum (free hours)
Free Mon & Wed–Fri 19:00–21:00, Sat 14:30–21:00, Sun 12:30–19:00 including Picasso's Guernica
Thyssen-Bornemisza (free hours)
Free on Monday 12:00–16:00 for permanent collection — one of Europe's most comprehensive art collections
El Rastro Sunday Market
Browse 3,500 antique, vintage, and craft stalls every Sunday from 09:00 to 15:00 in La Latina — free to browse
Lavapiés and Malasaña Neighbourhood Walk
Explore Madrid's most atmospheric bohemian barrios — street art, independent shops, and vibrant local life
Royal Palace Exterior and Plaza de Oriente
Admire the Royal Palace exterior and the beautiful Plaza de Oriente gardens for free
National Archaeological Museum (free hours)
Free Saturday afternoon from 14:00 and all day Sunday — prehistoric artefacts to medieval gold
Real Academia de Bellas Artes de San Fernando
Free on Wednesdays — Goya, Velázquez, and Rubens in a rarely crowded beautiful building
Palacio de Cristal in Retiro
The iron-and-glass 1887 Crystal Palace hosts free Reina Sofía exhibitions all year
El Capricho Park
Free 18th-century romantic garden open weekends — peacocks, labyrinths, and a Japanese lake