The approximate cost of living for a student in Madrid is between €600 and €1,200 a month (housing and living expenses), depending on the area and type of housing.

Students who share an apartment in the centre of Madrid are likely to spend an average of about €400 a month for a room (housing only). On the other hand, in Getafe of Leganés, it is possible to find a room for around €250 a month. In addition to housing, below you’ll find a list of other common expenses

 

While you’re in Madrid, make sure to visit the monuments, cities and landscapes declared World Heritage Sites by UNESCO. There are nine World Heritage sites less than two hours away from Madrid! (UC3M) 

• Food: €150/month
• Books and reprographics: €90/year
• Clothing: €300/year
• Transport pass: €20/month (for people under the age of 26) – (more information in the section on transport)
• Film ticket: €9
• Lunch at a restaurant: €10-15
• Coffee in a café: €1.50
• Entry to a well-known museum: €12 Almost all museums have discounts for students, and many have special hours with free entry (typically in the afternoon).

In addition to the listed expenses, students should consider setting aside funds for unexpected costs and emergencies, such as healthcare expenses or travel. It’s also advisable to explore student discounts available for various services and activities, including transportation, entertainment, and cultural events. Understanding local banking procedures and setting up a bank account can also help streamline financial transactions and budget management during your stay in Spain.