Cost of Living Comparison Between Canary Islands and Madrid Cost of Living Comparison Between Canary Islands and Madrid

Monthly Cost of Living

Monthly costs for one person with rent: $1,605 in Canary Islands versus $2,253 in Madrid.

Estimated couple costs with rent: $2,231 in Canary Islands versus $3,329 in Madrid.

Monthly costs for a family of three with rent: $2,858 in Canary Islands versus $4,404 in Madrid.

Living in Canary Islands costs roughly 29% less than in Madrid, driven mainly by Clothing & Footwear.

Both cities are pricier than the global median: Canary Islands 20% above, Madrid 68% above.

Meal at Budget Restaurant

$17.33 €14.91

$17.05 €14.66

1.64%

Three-Course Dinner for Two, Mid-Range

$57.8 €49.75

$68.6 €59.0

-15.64%

Fast Food Meal (McDonalds, etc)

$9.93 €8.55

$11.73 €10.09

-15.35%

Cappuccino

$1.79 €1.54

$3.06 €2.63

-41.50%

Coke/Pepsi/Fanta/Sprite (0.33 liter bottle)

$1.76 €1.51

$3.21 €2.76

-45.17%

Water (0.33 liter bottle)

$1.07 €0.92

$2.18 €1.87

-50.92%

Local Beer (0.5 liter draught)

$2.93 €2.52

$3.94 €3.39

-25.63%

Imported Beer (0.33 liter bottle)

$3.30 €2.84

$4.67 €4.02

-29.34%

Milk (1 liter)

$1.26 €1.08

$1.20 €1.03

5.00%

White Bread (500g)

$1.70 €1.46

$1.68 €1.45

1.19%

Rice (white) (1kg)

$1.50 €1.29

$1.69 €1.45

-11.24%

Eggs

$3.03 €2.61

$3.34 €2.88

-9.28%

Local Cheese (1kg)

$17.01 €14.63

$14.91 €12.83

14.08%

Chicken Fillets (1kg)

$8.31 €7.15

$8.93 €7.68

-6.94%

Beef Round Steak (1kg)

$14.62 €12.58

$16.84 €14.49

-13.18%

Apples (1kg)

$2.48 €2.13

$2.73 €2.34

-9.16%

Banana (1kg)

$1.70 €1.47

$2.11 €1.82

-19.43%

Oranges (1kg)

$1.60 €1.37

$2.54 €2.19

-37.01%

Tomato (1kg)

$2.51 €2.16

$2.65 €2.28

-5.28%

Potato (1kg)

$1.55 €1.33

$2.15 €1.85

-27.91%

Onion (1kg)

$1.71 €1.47

$2.10 €1.81

-18.57%

Lettuce (1 head)

$1.54 €1.32

$1.35 €1.17

14.07%

Water (1.5 liter bottle)

$0.69 €0.60

$0.97 €0.84

-28.87%

Cigarettes 20 Pack (Marlboro, Camel)

$4.83 €4.15

$6.82 €5.87

-29.18%

Wine (Bottle)

$8.17 €7.02

$8.15 €7.01

0.25%

Local Beer (0.5 liter bottle)

$1.41 €1.21

$1.39 €1.20

1.44%

Imported Beer (0.33 liter bottle)

$1.72 €1.48

$2.19 €1.88

-21.46%

One-way Ticket (Public Transport)

$1.70 €1.46

$1.77 €1.52

-3.95%

Public Transport Monthly Pass (Regular Price)

$34.27 €29.48

$49.07 €42.21

-30.16%

Taxi Start (Normal Tariff)

$3.74 €3.21

$4.01 €3.45

-6.73%

Taxi (Normal Tariff) (1km)

$1.33 €1.15

$1.33 €1.14

Taxi 1hour Waiting (Normal Tariff)

$17.08 €14.69

$29.19 €25.11

-41.49%

Gasoline (1 liter)

$1.68 €1.44

$1.93 €1.66

-12.95%

Midsize Hatchback 1.4l (Volkswagen Golf, Toyota Prius, Honda Civic, etc)

$25.9K €22.3K

$37.2K €32.0K

-30.34%

Compact Sedan 1.6l (Toyota Corolla, Mazda3, Kia K4, Hyundai Elantra, etc)

$29.7K €25.6K

$34.4K €29.6K

-13.54%

Utilities for 2 People in 2-bedroom Apartment (Heating, Electricity, Gas, Water, Garbage) (85m2)

$91.6 €78.8

$195 €167

-52.95%

SIM Card Monthly Plan (Calls and 10GB+ Data)

$21.07 €18.12

$21.66 €18.64

-2.72%

Internet (50+ Mbps, Unlimited Data)

$30.71 €26.42

$35.51 €30.54

-13.52%

Gym Membership (Monthly)

$48.50 €41.72

$53.8 €46.26

-9.82%

Tennis Court (1 Hour on Weekend)

$24.76 €21.30

$17.95 €15.44

37.94%

Cinema Ticket

$10.08 €8.67

$11.55 €9.94

-12.73%

Preschool or Kindergarten, Full Day, Private, 1 Child (Monthly)

$341 €294

$676 €582

-49.52%

International Primary School, 1 Child (Yearly)

$8,375 €7,204

$12.1K €10.4K

-30.96%

Jeans (Levis 501 Or Similar)

$69.0 €59.4

$94.2 €81.1

-26.75%

Summer Dress (H&M, Zara, etc)

$33.95 €29.21

$42.77 €36.79

-20.62%

Sport Shoes (Adidas, Nike)

$79.8 €68.7

$106 €90.9

-24.43%

Men's Leather Business Shoes

$70.5 €60.7

$134 €116

-47.55%

1-bedroom Apartment, City Center (Monthly)

$1,148 €988

$1,566 €1,347

-26.66%

1-bedroom Apartment, Outside City Center (Monthly)

$707 €608

$1,149 €988

-38.44%

3-bedroom Apartment, City Center (Monthly)

$2,253 €1,938

$2,826 €2,431

-20.27%

3-bedroom Apartment, Outside City Center (Monthly)

$788 €678

$1,884 €1,621

-58.16%

Buy Apartment in City Center (m2)

$3,480 €2,994

$9,077 €7,808

-61.66%

Buy Apartment Outside City Center (m2)

$2,338 €2,011

$4,511 €3,880

-48.18%

Average Monthly Net Salary (After Tax)

$1,454 €1,250

$2,626 €2,259

-44.65%

20-Year Fixed Mortgage Interest Rate (Annual %)

3.33

3.43

-2.92%

CityCost data is based on AI and user input – minor inaccuracies may occur.

Last update for Canary Islands: June 2, 2026

Last update for Madrid: May 31, 2026

Cost Breakdown

A one-bedroom apartment in the center runs $1,148 in Canary Islands and $1,566 in Madrid. Housing cost is often the main lever when comparing two cities.

Madrid pays 81% more on average. The extra income cushions the higher costs, though housing choices and lifestyle decide how much of the gap is truly closed.

Dining out: $58.0 in Canary Islands vs $69.0 in Madrid for a mid-range dinner for two. Groceries echo the gap at $275 vs $294 per month, with Canary Islands cheaper across the board.

City Median Internet Speeds Comparison (Updated April 2026)

The chart highlights the Precision Threshold for mobile and fixed broadband internet speeds, updated quarterly.

Digital Nomad Cost of Living Index

Canary Islands vs Madrid: Cost of Living - Frequently Asked Questions

Canary Islands wins on cost – living expenses run 40% lower than in Madrid. Housing and daily spending are where you'll feel the difference most, making Canary Islands the obvious pick if budget is a priority.

On paper, Madrid earns 81% less. That's worth factoring in alongside costs, though remote workers earning in a stronger currency may not notice the difference at all.

Rent for a central apartment: $1,148 in Canary Islands versus $1,566 in Madrid. Housing is usually the single largest factor when comparing overall living costs between the two.

Supermarket bills run roughly 7% higher in Madrid. For households that cook at home regularly, that difference adds up over a month.

Dining out is cheaper in Canary Islands – a meal for two runs $58.0 versus $69.0 in Madrid. If you eat out regularly, this makes a real dent in your monthly spending.

At $1,605 in Canary Islands versus $2,253 in Madrid, a $2,000 budget is realistic in Canary Islands but tight or insufficient in Madrid. The gap between the two cities makes Canary Islands the clear choice for anyone on this budget.

Both work as nomad bases, but Canary Islands delivers better value – similar infrastructure at $1,605 monthly. If stretching your runway or maximizing savings is the goal, the price difference makes Canary Islands hard to pass up.

Safety-wise, Canary Islands and Madrid are on par. Petty crime is typical for cities this size, and most residents feel comfortable going about their daily routines in either place.

Expats usually find Canary Islands gentler on the wallet – expenses run 40% less than in Madrid. Beyond cost, consider language, visa policies, and how big the international community is in each city.