Last update: Oct 2026

Cost of Living Comparison Between the Canary Islands and Madrid

For one person, living is cheaper in the Canary Islands: $1,650 a month against $2,265 in Madrid, rent and utilities included – about $7,400 less a year. Rent and utilities account for most of the difference.

80

Cost of Living Index in the Canary Islands
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Canary Islands Living Index
111

Cost of Living Index in Madrid
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Madrid Living Index

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Canary Islands

🇪🇸 Spain

$1,650

/mo nomad

Madrid

🇪🇸 Spain

$2,265

/mo nomad

Monthly Cost of Living

How much you'll spend in the Canary Islands and in Madrid

Real prices from locals and on-the-ground checks – rent, groceries, transit and the daily extras. Here's what a month in the Canary Islands and in Madrid actually costs, broken down by who's living it.

Monthly costs for one person with rent: $1,650 in the Canary Islands versus $2,265 in Madrid.

Canary Islands $1,650
Madrid $2,265

Estimated couple costs with rent: $2,373 in the Canary Islands versus $3,296 in Madrid.

Canary Islands $2,373
Madrid $3,296

Monthly costs for a family of three with rent: $3,095 in the Canary Islands versus $4,328 in Madrid.

Canary Islands $3,095
Madrid $4,328

Living in the Canary Islands costs roughly 27% less than in Madrid, and outside of rent the biggest gap is in transport.

Both cities are pricier than the global median: Canary Islands 22% above, Madrid 68% above.

Meal at Budget Restaurant

$20.32 €18.07

$18.20 €16.19

11.65%

Three-Course Dinner for Two, Mid-Range

$61.1 €54.3

$68.1 €60.5

-10.29%

Fast Food Meal (McDonalds, etc)

$9.42 €8.37

$11.24 €9.99

-16.19%

Cappuccino

$2.05 €1.83

$3.15 €2.80

-34.92%

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

$1.86 €1.65

$3.36 €2.99

-44.64%

Water (0.33 liter bottle)

$1.10 €0.98

$2.36 €2.10

-53.39%

Local Beer (0.5 liter draught)

$2.85 €2.53

$3.83 €3.40

-25.59%

Imported Beer (0.33 liter bottle)

$3.42 €3.04

$4.92 €4.38

-30.49%

Milk (1 liter)

$1.36 €1.21

$1.32 €1.17

3.03%

White Bread (500g)

$2.39 €2.13

$1.61 €1.43

48.45%

Rice (white) (1kg)

$1.58 €1.40

$1.65 €1.47

-4.24%

Eggs

$2.18 €1.94

$4.07 €3.62

-46.44%

Local Cheese (1kg)

$19.31 €17.18

$15.82 €14.07

22.06%

Chicken Fillets (1kg)

$9.93 €8.83

$9.49 €8.44

4.64%

Beef Round Steak (1kg)

$17.23 €15.32

$17.52 €15.58

-1.66%

Apples (1kg)

$2.73 €2.43

$2.56 €2.27

6.64%

Banana (1kg)

$2.25 €2.00

$2.09 €1.86

7.66%

Oranges (1kg)

$2.16 €1.92

$2.47 €2.19

-12.55%

Tomato (1kg)

$2.51 €2.23

$2.49 €2.22

0.80%

Potato (1kg)

$2.14 €1.91

$2.26 €2.01

-5.31%

Onion (1kg)

$2.02 €1.80

$2.15 €1.91

-6.05%

Lettuce (1 head)

$1.70 €1.51

$1.57 €1.40

8.28%

Water (1.5 liter bottle)

$0.93 €0.83

$1.07 €0.95

-13.08%

Cigarettes 20 Pack (Marlboro, Camel)

$4.66 €4.14

$6.55 €5.82

-28.85%

Wine (Bottle)

$7.86 €6.99

$7.65 €6.81

2.75%

Local Beer (0.5 liter bottle)

$1.70 €1.51

$1.17 €1.04

45.30%

Imported Beer (0.33 liter bottle)

$1.75 €1.55

$2.22 €1.97

-21.17%

One-way Ticket (Public Transport)

$0.86 €0.76

$1.63 €1.45

-47.24%

Public Transport Monthly Pass (Regular Price)

$36.42 €32.39

Taxi Start (Normal Tariff)

$4.24 €3.77

$3.73 €3.32

13.67%

Taxi (Normal Tariff) (1km)

$1.69 €1.50

$1.54 €1.37

9.74%

Taxi 1hour Waiting (Normal Tariff)

$16.59 €14.75

$29.17 €25.94

-43.13%

Gasoline (1 liter)

$1.70 €1.51

$1.78 €1.58

-4.49%

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

$24.9K €22.2K

$35.5K €31.6K

-29.77%

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

$29.0K €25.8K

$33.2K €29.6K

-12.82%

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

$126 €112

$189 €168

-33.25%

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

$20.91 €18.60

$17.48 €15.55

19.62%

Internet (50+ Mbps, Unlimited Data)

$35.49 €31.57

$34.32 €30.53

3.41%

Gym Membership (Monthly)

$47.49 €42.24

$48.62 €43.25

-2.32%

Tennis Court (1 Hour on Weekend)

$24.07 €21.41

$18.44 €16.40

30.53%

Cinema Ticket

$9.85 €8.76

$11.04 €9.82

-10.78%

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

$400 €355

$693 €617

-42.38%

International Primary School, 1 Child (Yearly)

$5,096 €4,532

$17.8K €15.8K

-71.30%

Jeans (Levis 501 Or Similar)

$68.3 €60.7

$84.6 €75.3

-19.33%

Summer Dress (H&M, Zara, etc)

$38.65 €34.38

$42.50 €37.80

-9.06%

Sport Shoes (Adidas, Nike)

$89.6 €79.7

$110 €98.1

-18.73%

Men's Leather Business Shoes

$114 €101

$112 €99.9

1.36%

1-bedroom Apartment, City Center (Monthly)

$1,111 €988

$1,506 €1,339

-26.23%

1-bedroom Apartment, Outside City Center (Monthly)

$680 €605

$1,170 €1,040

-41.85%

3-bedroom Apartment, City Center (Monthly)

$2,756 €2,451

3-bedroom Apartment, Outside City Center (Monthly)

$825 €734

$1,845 €1,641

-55.25%

Buy Apartment in City Center (m2)

$9,168 €8,154

Buy Apartment Outside City Center (m2)

$4,234 €3,766

Average Monthly Net Salary (After Tax)

$1,369 €1,218

$2,483 €2,208

-44.85%

20-Year Fixed Mortgage Interest Rate (Annual %)

3.33

3.14

6.05%

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

Last update for the Canary Islands: October 13, 2026

Last update for Madrid: October 11, 2026

Monthly budget structure

Share of the monthly basket for one person, rent included.

Accommodation & Living

Canary Islands

$680 41.2%

Madrid

$1.2K 51.7% 72% $490

Groceries & Markets

Canary Islands

$316 19.2%

Madrid

$303 13.4% 4.2% $13

Eating Out

Canary Islands

$248 15.1%

Madrid

$269 11.9% 8.3% $21

Monthly Utilities & Internet

Canary Islands

$182 11.1%

Madrid

$241 10.6% 31.9% $58

Clothing & Footwear

Canary Islands

$140 8.5%

Madrid

$157 7% 12.7% $18

Sport & Entertainment

Canary Islands

$67 4.1%

Madrid

$71 3.1% 5.2% $3.5

Getting Around

Canary Islands

$16 * 1%

Madrid

$54 2.4% 238% $38

Categories marked with * are only partly priced – their share counts the items that do have prices.

Cost Breakdown

A one-bedroom apartment in the center runs $1,111 in the Canary Islands and $1,506 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: $61.0 in the Canary Islands vs $68.0 in Madrid. Groceries flip the comparison at $316 vs $303, with Madrid cheaper for home cooking.

Good to know

🇪🇸 Canary Islands

🇪🇸 Madrid

🕒 Local time

14:57 2:57 PM

15:57 3:57 PM

1 h ahead of the Canary Islands

🌤 Weather

👥 Population

12,050

3,332,035 Capital

💱 Currency

Euro EUR €

📈 Exchange rate

1 EUR = 1.12 USD

Exchange rates and currency converter

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Between locations

Canary Islands Madrid 1,800 km ≈ 2 h 45 min nonstop flight

From you

Canary Islands
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Distances are measured in a straight line. Your location is detected approximately.

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 37% 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, salaries run 81% lower in Madrid. 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: $1,111 in the Canary Islands versus $1,506 in Madrid. Housing is usually the single largest factor when comparing overall living costs between the two.

Shoppers in Madrid pay roughly 4% less for everyday groceries. It's an unusual reversal that partly offsets higher costs elsewhere.

All in, you'll spend $1,650 per month in the Canary Islands versus $2,265 in Madrid – a 37% gap that adds up to real savings over time for anyone picking the cheaper option.

At $1,650 in the Canary Islands versus $2,265 in Madrid, a $2,000 budget is realistic in the 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 $1,650 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 37% less than in Madrid. Beyond cost, consider language, visa policies, and how big the international community is in each city.