Cheapest Cities Near Madrid (2026)

Madrid has a cost of living index of 65 (US avg = 100). Here are 8 more affordable metros to consider as alternatives.

More affordable alternatives

1
Phnom Penh, KH54% cheaper
COL: 301BR: $350/moSave $850/mo on rent
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2
Buenos Aires, AR54% cheaper
COL: 301BR: $400/moSave $800/mo on rent
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3
Oaxaca, MX51% cheaper
COL: 321BR: $400/moSave $800/mo on rent
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4
Da Nang, VN49% cheaper
COL: 341BR: $350/moSave $850/mo on rent
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5
Medellín, CO46% cheaper
COL: 351BR: $500/moSave $700/mo on rent
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6
Marrakech, MA46% cheaper
COL: 351BR: $430/moSave $770/mo on rent
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7
Hanoi, VN43% cheaper
COL: 371BR: $450/moSave $750/mo on rent
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8
Cebu City, PH43% cheaper
COL: 371BR: $400/moSave $800/mo on rent
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Madrid at a glance

65
COL index
100 = US avg
$1,200
1BR rent
per month
—
Home price
median
21%
State tax
income

Cities with similar cost of living

Taipei, TWCOL: 63Lisbon, PTCOL: 63Barcelona, ESCOL: 69Santiago, CLCOL: 62

COL index sourced from Numbeo, Zillow, and BLS data · Q1 2026 · For general guidance only