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Cost of Living in Madrid

Madrid, Cundinamarca, Colombia · Population 112,254

▼ -6% vs Colombia average

Single person, monthly (incl. rent)$1,562,400 ($372)
Couple, monthly$2,783,760 ($663)
Family of four, monthly$3,610,488 ($860)

Estimated Prices in Madrid

ExpenseEstimated costBasis
Meal at an inexpensive restaurant$16,380 ($3.90)per meal
Three-course meal for two, mid-range$65,520 ($15.60)per meal
Cappuccino$4,914 ($1.17)each
Monthly groceries (single person)$371,280 ($88.40)per month
Monthly public transport pass$60,060 ($14.30)per month
Basic utilities for an 85m² apartment$158,340 ($37.70)per month
Internet (60 Mbps, unlimited)$45,864 ($10.92)per month
Fitness club membership$45,864 ($10.92)per month
Cinema ticket$12,012 ($2.86)each
One-bedroom apartment in city centre$676,200 ($161)per month
One-bedroom apartment outside centre$470,400 ($112)per month
Three-bedroom apartment in city centre$1,411,200 ($336)per month

Salary & Budget Planning

The estimated average net salary in Madrid is $2,100,000 ($500) per month. To live comfortably — covering the full single-person budget of $1,562,400 ($372) with about 30% left over for savings — you would need a net income of roughly $2,031,120 ($484) per month.

Housing takes the largest share: rent for a one-bedroom outside the centre ($470,400 ($112)) represents about 30% of the total single-person budget.

Compare Madrid

Madrid vs BogotáMadrid vs CaliMadrid vs MedellínMadrid vs BarranquillaMadrid vs CartagenaMadrid vs Bucaramanga

Nearby Cities

Mosquera

4 km away · Cundinamarca

Funza

6 km away · Cundinamarca

Bojacá

9 km away · Cundinamarca

El Rosal

13 km away · Cundinamarca

Facatativá

14 km away · Cundinamarca

Fontibón

15 km away · Bogotá

San Antonio del Tequendama

16 km away · Cundinamarca

Tena

16 km away · Cundinamarca

Other Major Cities in Colombia

Bogotá

Bogotá · pop. 10,085,000

$2,072,575 ($493) / mo

Cali

Valle del Cauca · pop. 2,916,790

$1,798,993 ($428) / mo

Medellín

Antioquia · pop. 2,529,403

$1,798,993 ($428) / mo

Barranquilla

Atlántico · pop. 1,326,588

$1,798,993 ($428) / mo

Cartagena

Bolívar · pop. 914,552

$1,663,461 ($396) / mo

Bucaramanga

Santander · pop. 893,040

$1,663,461 ($396) / mo

Cúcuta

Norte de Santander · pop. 806,378

$1,663,461 ($396) / mo

Villavicencio

Meta · pop. 664,148

$1,663,461 ($396) / mo

Living in Madrid

Madrid is one of the key cities in Colombia. The estimated monthly cost of living for a single person is $1,562,400 ($372), placing it below the national average. Housing represents the largest expense, with a one-bedroom apartment outside the city centre costing around $470,400 ($112) per month.

For families, the estimated budget rises to $3,610,488 ($860) per month, driven mainly by larger housing needs and increased food and transport spending. Couples can expect to spend approximately $2,783,760 ($663) monthly.

The average estimated net salary in Madrid is $2,100,000 ($500). To maintain a comfortable lifestyle with room for savings, a single person typically needs a net income of at least $2,031,120 ($484) per month.

Frequently Asked Questions

Is Madrid expensive to live in?
A single person needs an estimated $1,562,400 ($372) per month in Madrid including rent outside the city centre. That is 6% less than the national average for Colombia.
What salary do you need to live comfortably in Madrid?
A net salary of around $2,031,120 ($484) per month lets a single person cover all estimated expenses in Madrid with roughly 30% left for savings. The estimated average net salary in Madrid is $2,100,000 ($500).
How much is rent in Madrid?
A one-bedroom apartment costs an estimated $676,200 ($161) per month in the city centre and $470,400 ($112) outside the centre. A three-bedroom in the centre runs about $1,411,200 ($336).
Is Madrid cheaper than Colombia on average?
Yes — Madrid is estimated to be about 6% cheaper than the Colombia average, making it a relatively affordable option in the country.
What is the cost of groceries in Madrid?
Monthly groceries for one person are estimated at $371,280 ($88) in Madrid. A meal at an inexpensive restaurant costs about $16,380 ($4) and a cappuccino runs around $4,914 ($1).
How do transport costs in Madrid compare?
A monthly public transport pass in Madrid is estimated at $60,060 ($14). Transport makes up a small share of the total budget compared to housing and food.
Figures for Madrid are estimates based on Colombia national averages adjusted for city size (population 112,254). Last model update: July 2026. How we calculate.