Last update: Oct 2026

Cost of Living Comparison Between Gran Canaria, Canary Islands and Madrid

For one person, living is cheaper in Gran Canaria, Canary Islands: $1,610 a month against $2,265 in Madrid, rent and utilities included – about $7,900 less a year. Rent and utilities account for most of the difference.

79

Cost of Living Index in Gran Canaria, Canary Islands
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Gran Canaria, Canary Islands Living Index
109

Cost of Living Index in Madrid
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Madrid Living Index

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Gran Canaria, Canary Islands

🇪🇸 Spain

$1,610

/mo nomad

Madrid

🇪🇸 Spain

$2,265

/mo nomad

Monthly Cost of Living

How much you'll spend in Gran Canaria, 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 Gran Canaria, Canary Islands and in Madrid actually costs, broken down by who's living it.

A single person spends $1,610 per month in Gran Canaria, Canary Islands vs $2,265 in Madrid, rent included.

Gran Canaria, Canary Islands $1,610
Madrid $2,265

A couple spends around $2,368 per month in Gran Canaria, Canary Islands vs $3,311 in Madrid, rent included.

Gran Canaria, Canary Islands $2,368
Madrid $3,311

A family of three spends $3,126 per month in Gran Canaria, Canary Islands vs $4,356 in Madrid, rent included.

Gran Canaria, Canary Islands $3,126
Madrid $4,356

Gran Canaria, Canary Islands is about 29% cheaper than Madrid, and outside of rent the biggest gap is in eating out.

Both Gran Canaria, Canary Islands and Madrid sit above the global median – Gran Canaria, Canary Islands by 19%, Madrid by 67%.

Meal at Budget Restaurant

$14.81 €13.18

$18.06 €16.06

-18.00%

Three-Course Dinner for Two, Mid-Range

$57.1 €50.8

$66.5 €59.2

-14.11%

Fast Food Meal (McDonalds, etc)

$10.31 €9.17

$11.40 €10.14

-9.56%

Cappuccino

$2.17 €1.93

$3.03 €2.69

-28.38%

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

$2.39 €2.12

$3.25 €2.89

-26.46%

Water (0.33 liter bottle)

$1.70 €1.51

$2.32 €2.07

-26.72%

Local Beer (0.5 liter draught)

$3.40 €3.03

$3.85 €3.42

-11.69%

Imported Beer (0.33 liter bottle)

$3.41 €3.04

$4.82 €4.29

-29.25%

Milk (1 liter)

$1.19 €1.06

$1.32 €1.18

-9.85%

White Bread (500g)

$1.36 €1.21

$1.61 €1.43

-15.53%

Rice (white) (1kg)

$1.67 €1.48

$1.75 €1.56

-4.57%

Eggs

$2.89 €2.57

$4.06 €3.61

-28.82%

Local Cheese (1kg)

$13.52 €12.03

$16.34 €14.54

-17.26%

Chicken Fillets (1kg)

$8.22 €7.31

$9.61 €8.55

-14.46%

Beef Round Steak (1kg)

$15.10 €13.43

$17.43 €15.50

-13.37%

Apples (1kg)

$2.51 €2.23

$2.63 €2.34

-4.56%

Banana (1kg)

$1.96 €1.74

$2.18 €1.93

-10.09%

Oranges (1kg)

$1.97 €1.75

$2.50 €2.22

-21.20%

Tomato (1kg)

$2.59 €2.30

$2.60 €2.32

-0.38%

Potato (1kg)

$1.73 €1.54

$2.25 €2.01

-23.11%

Onion (1kg)

$2.02 €1.80

$2.08 €1.85

-2.88%

Lettuce (1 head)

$1.33 €1.18

$1.56 €1.39

-14.74%

Water (1.5 liter bottle)

$0.70 €0.62

$1.08 €0.96

-35.19%

Cigarettes 20 Pack (Marlboro, Camel)

$6.46 €5.75

$6.70 €5.96

-3.58%

Wine (Bottle)

$5.73 €5.10

$7.82 €6.95

-26.73%

Local Beer (0.5 liter bottle)

$1.20 €1.07

$1.22 €1.08

-1.64%

Imported Beer (0.33 liter bottle)

$2.05 €1.83

$2.25 €2.00

-8.89%

One-way Ticket (Public Transport)

$1.69 €1.50

$1.63 €1.45

3.68%

Public Transport Monthly Pass (Regular Price)

$33.64 €29.92

$37.72 €33.56

-10.82%

Taxi Start (Normal Tariff)

$4.09 €3.64

$3.81 €3.39

7.35%

Taxi (Normal Tariff) (1km)

$1.26 €1.12

$1.49 €1.33

-15.44%

Taxi 1hour Waiting (Normal Tariff)

$25.03 €22.26

$29.99 €26.68

-16.54%

Gasoline (1 liter)

$1.76 €1.57

$1.79 €1.59

-1.68%

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

$38.3K €34.1K

$33.7K €29.9K

13.79%

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

$30.3K €27.0K

$33.3K €29.6K

-8.80%

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

$135 €120

$190 €169

-29.29%

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

$20.74 €18.45

$17.57 €15.63

18.04%

Internet (50+ Mbps, Unlimited Data)

$30.89 €27.48

$35.34 €31.43

-12.59%

Gym Membership (Monthly)

$47.30 €42.08

$49.52 €44.04

-4.48%

Tennis Court (1 Hour on Weekend)

$15.03 €13.37

$18.20 €16.19

-17.42%

Cinema Ticket

$9.02 €8.03

$11.09 €9.87

-18.67%

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

$413 €367

$684 €609

-39.68%

International Primary School, 1 Child (Yearly)

$8,267 €7,353

$18.2K €16.2K

-54.63%

Jeans (Levis 501 Or Similar)

$84.1 €74.8

$87.8 €78.1

-4.18%

Summer Dress (H&M, Zara, etc)

$34.68 €30.84

$42.06 €37.41

-17.55%

Sport Shoes (Adidas, Nike)

$87.4 €77.8

$111 €98.3

-20.89%

Men's Leather Business Shoes

$107 €95.5

$113 €100

-4.83%

1-bedroom Apartment, City Center (Monthly)

$853 €758

$1,509 €1,342

-43.49%

1-bedroom Apartment, Outside City Center (Monthly)

$690 €614

$1,162 €1,034

-40.62%

3-bedroom Apartment, City Center (Monthly)

$1,305 €1,161

$2,804 €2,494

-53.46%

3-bedroom Apartment, Outside City Center (Monthly)

$1,016 €903

$1,867 €1,661

-45.60%

Buy Apartment in City Center (m2)

$3,320 €2,953

$9,017 €8,021

-63.19%

Buy Apartment Outside City Center (m2)

$2,366 €2,105

$4,294 €3,819

-44.88%

Average Monthly Net Salary (After Tax)

$2,495 €2,219

20-Year Fixed Mortgage Interest Rate (Annual %)

3.5

3.14

11.46%

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

Last update for Gran Canaria, Canary Islands: October 18, 2026

Last update for Madrid: October 18, 2026

Monthly budget structure

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

Accommodation & Living

Gran Canaria, Canary Islands

$690 42.9%

Madrid

$1.2K 51.3% 68.4% $472

Groceries & Markets

Gran Canaria, Canary Islands

$260 16.2%

Madrid

$308 13.6% 18.2% $47

Eating Out

Gran Canaria, Canary Islands

$216 13.4%

Madrid

$266 11.8% 23.4% $51

Monthly Utilities & Internet

Gran Canaria, Canary Islands

$186 11.6%

Madrid

$243 10.7% 30.6% $57

Clothing & Footwear

Gran Canaria, Canary Islands

$141 8.8%

Madrid

$159 7% 12.6% $18

Sport & Entertainment

Gran Canaria, Canary Islands

$65 4.1%

Madrid

$72 3.2% 9.7% $6.4

Getting Around

Gran Canaria, Canary Islands

$51 3.2%

Madrid

$56 2.5% 9.3% $4.7

Cost Breakdown

A central one-bedroom costs $853 in Gran Canaria, Canary Islands versus $1,509 in Madrid. Rent is usually the largest line item in a monthly budget, so the gap here sets the tone for the overall comparison.

A mid-range dinner for two costs $57.0 in Gran Canaria, Canary Islands versus $66.0 in Madrid. Monthly groceries follow the same trend: $260 vs $308 – making Gran Canaria, Canary Islands the more affordable choice for daily food spending.

Good to know

🇪🇸 Gran Canaria, Canary Islands

🇪🇸 Madrid

🕒 Local time

18:06 6:06 PM

19:06 7:06 PM

1 h ahead of Gran Canaria, Canary Islands

🌤 Weather

👥 Population

862,893

3,332,035 Capital

💱 Currency

Euro EUR €

📈 Exchange rate

1 EUR = 1.12 USD

Exchange rates and currency converter

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Gran Canaria, Canary Islands Madrid 1,760 km ≈ 2 h 45 min nonstop flight

From you

Gran Canaria, Canary Islands
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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

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

Yes – Madrid is pricier by about 41%, and outside of rent the gap shows up most in eating out.

For a comfortable life, plan on about $2,414 per month in Gran Canaria, Canary Islands and $3,398 in Madrid. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Rent is clearly cheaper in Gran Canaria, Canary Islands, especially for central apartments. Housing is actually the single biggest factor behind the overall cost gap between these two cities.

Kindergarten costs $413 per month in Gran Canaria, Canary Islands and $684 in Madrid. For families with young kids, this one expense can tip the scales when choosing between the two cities.

Groceries cost about 18% more in Madrid, though it depends on what you buy. Local produce may be comparable; imported and premium items show the biggest price gap.

A $2,500 monthly budget goes further in Gran Canaria, Canary Islands, where all-in costs run around $1,610, than in Madrid at $2,265. In Gran Canaria, Canary Islands it covers expenses comfortably, while in Madrid it requires careful planning or may not stretch far enough.

Families tend to lean toward Gran Canaria, Canary Islands – lower housing and cheaper childcare make a real difference, especially on a single income or when paying for private education.

Both have safer and rougher neighborhoods, but overall safety is comparable to other large cities. Neighborhood choice matters more than the city-level comparison – central, well-trafficked areas feel secure in both.

If budget matters most, go with Gran Canaria, Canary Islands. If higher salaries, better infrastructure, or specific career opportunities are the priority, Madrid makes more sense. Both are solid long-term options with distinct trade-offs.