Last update: Oct 2026

Cost of Living Comparison Between Madrid and the Canary Islands

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.

111

Cost of Living Index in Madrid
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Madrid Living Index
80

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

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Madrid

🇪🇸 Spain

$2,265

/mo nomad

Canary Islands

🇪🇸 Spain

$1,650

/mo nomad

Monthly Cost of Living

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

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

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

Madrid $2,265
Canary Islands $1,650

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

Madrid $3,296
Canary Islands $2,373

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

Madrid $4,328
Canary Islands $3,095

Living in Madrid is roughly 37% more expensive than in the Canary Islands, and outside of rent the biggest gap is in transport.

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

Meal at Budget Restaurant

$18.20 €16.19

$20.32 €18.07

-10.43%

Three-Course Dinner for Two, Mid-Range

$68.1 €60.5

$61.1 €54.3

11.46%

Fast Food Meal (McDonalds, etc)

$11.24 €9.99

$9.42 €8.38

19.32%

Cappuccino

$3.15 €2.80

$2.05 €1.83

53.66%

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

$3.36 €2.99

$1.86 €1.65

80.65%

Water (0.33 liter bottle)

$2.36 €2.10

$1.10 €0.98

114.55%

Local Beer (0.5 liter draught)

$3.83 €3.40

$2.85 €2.53

34.39%

Imported Beer (0.33 liter bottle)

$4.92 €4.38

$3.42 €3.04

43.86%

Milk (1 liter)

$1.32 €1.17

$1.36 €1.21

-2.94%

White Bread (500g)

$1.61 €1.43

$2.39 €2.13

-32.64%

Rice (white) (1kg)

$1.65 €1.47

$1.58 €1.40

4.43%

Eggs

$4.07 €3.62

$2.18 €1.94

86.70%

Local Cheese (1kg)

$15.82 €14.07

$19.31 €17.18

-18.07%

Chicken Fillets (1kg)

$9.49 €8.44

$9.93 €8.83

-4.43%

Beef Round Steak (1kg)

$17.52 €15.59

$17.23 €15.33

1.68%

Apples (1kg)

$2.56 €2.27

$2.73 €2.43

-6.23%

Banana (1kg)

$2.09 €1.86

$2.25 €2.00

-7.11%

Oranges (1kg)

$2.47 €2.19

$2.16 €1.92

14.35%

Tomato (1kg)

$2.49 €2.22

$2.51 €2.23

-0.80%

Potato (1kg)

$2.26 €2.01

$2.14 €1.91

5.61%

Onion (1kg)

$2.15 €1.91

$2.02 €1.80

6.44%

Lettuce (1 head)

$1.57 €1.40

$1.70 €1.51

-7.65%

Water (1.5 liter bottle)

$1.07 €0.95

$0.93 €0.83

15.05%

Cigarettes 20 Pack (Marlboro, Camel)

$6.55 €5.82

$4.66 €4.14

40.56%

Wine (Bottle)

$7.65 €6.81

$7.86 €6.99

-2.67%

Local Beer (0.5 liter bottle)

$1.17 €1.04

$1.70 €1.51

-31.18%

Imported Beer (0.33 liter bottle)

$2.22 €1.97

$1.75 €1.55

26.86%

One-way Ticket (Public Transport)

$1.63 €1.45

$0.86 €0.76

89.53%

Public Transport Monthly Pass (Regular Price)

$36.42 €32.39

Taxi Start (Normal Tariff)

$3.73 €3.32

$4.24 €3.78

-12.03%

Taxi (Normal Tariff) (1km)

$1.54 €1.37

$1.69 €1.50

-8.88%

Taxi 1hour Waiting (Normal Tariff)

$29.17 €25.95

$16.59 €14.75

75.83%

Gasoline (1 liter)

$1.78 €1.58

$1.70 €1.51

4.71%

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

$35.5K €31.6K

$24.9K €22.2K

42.38%

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

$33.2K €29.6K

$29.0K €25.8K

14.71%

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

$189 €168

$126 €112

49.82%

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

$17.48 €15.55

$20.91 €18.60

-16.40%

Internet (50+ Mbps, Unlimited Data)

$34.32 €30.53

$35.49 €31.57

-3.30%

Gym Membership (Monthly)

$48.62 €43.25

$47.49 €42.25

2.38%

Tennis Court (1 Hour on Weekend)

$18.44 €16.40

$24.07 €21.41

-23.39%

Cinema Ticket

$11.04 €9.82

$9.85 €8.76

12.08%

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

$693 €617

$400 €355

73.55%

International Primary School, 1 Child (Yearly)

$17.8K €15.8K

$5,096 €4,533

248.40%

Jeans (Levis 501 Or Similar)

$84.6 €75.3

$68.3 €60.7

23.96%

Summer Dress (H&M, Zara, etc)

$42.50 €37.80

$38.65 €34.38

9.96%

Sport Shoes (Adidas, Nike)

$110 €98.1

$89.6 €79.7

23.04%

Men's Leather Business Shoes

$112 €99.9

$114 €101

-1.34%

1-bedroom Apartment, City Center (Monthly)

$1,506 €1,339

$1,111 €988

35.55%

1-bedroom Apartment, Outside City Center (Monthly)

$1,170 €1,041

$680 €605

71.97%

3-bedroom Apartment, City Center (Monthly)

$2,756 €2,451

3-bedroom Apartment, Outside City Center (Monthly)

$1,845 €1,641

$825 €734

123.49%

Buy Apartment in City Center (m2)

$9,168 €8,155

Buy Apartment Outside City Center (m2)

$4,234 €3,766

Average Monthly Net Salary (After Tax)

$2,483 €2,209

$1,369 €1,218

81.33%

20-Year Fixed Mortgage Interest Rate (Annual %)

3.14

3.33

-5.71%

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

Last update for Madrid: October 11, 2026

Last update for the Canary Islands: October 13, 2026

Monthly budget structure

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

Accommodation & Living

Madrid

$1.2K 51.7%

Canary Islands

$680 41.2% 41.8% $490

Groceries & Markets

Madrid

$303 13.4%

Canary Islands

$316 19.2% 4.4% $13

Eating Out

Madrid

$269 11.9%

Canary Islands

$248 15.1% 7.7% $21

Monthly Utilities & Internet

Madrid

$241 10.6%

Canary Islands

$182 11.1% 24.2% $58

Clothing & Footwear

Madrid

$157 7%

Canary Islands

$140 8.5% 11.2% $18

Sport & Entertainment

Madrid

$71 3.1%

Canary Islands

$67 4.1% 5% $3.5

Getting Around

Madrid

$54 2.4%

Canary Islands

$16 * 1% 70.4% $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 $1,506 in Madrid and $1,111 in the Canary Islands. 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: $68.0 in Madrid vs $61.0 in the Canary Islands. Groceries flip the comparison at $303 vs $316, with Madrid cheaper for home cooking.

Good to know

🇪🇸 Madrid

🇪🇸 Canary Islands

🕒 Local time

16:58 4:58 PM

15:58 3:58 PM

1 h behind Madrid

🌤 Weather

👥 Population

3,332,035 Capital

12,050

💱 Currency

Euro EUR €

📈 Exchange rate

1 EUR = 1.12 USD

Exchange rates and currency converter

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Between locations

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

From you

Madrid
Canary Islands

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

Madrid vs Canary Islands: 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.

Average pay runs 81% higher in Madrid, which matters when comparing affordability. Whether that higher income actually nets you more depends on your spending habits and housing choices.

Rent for a central apartment: $1,506 in Madrid versus $1,111 in the Canary Islands. 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 $2,265 per month in Madrid versus $1,650 in the Canary Islands – 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, Madrid and Canary Islands 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.