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

Name: Gran Canaria, Canary Islands
Address: Gran Canaria, Canary Islands, ES

Monthly Cost of Living

A single person spends $2,293 per month in Madrid vs $1,625 in Gran Canaria, Canary Islands, rent included.

A couple spends around $3,370 per month in Madrid vs $2,389 in Gran Canaria, Canary Islands, rent included.

A family of three spends $4,447 per month in Madrid vs $3,153 in Gran Canaria, Canary Islands, rent included.

Madrid costs about 41% more than Gran Canaria, Canary Islands, driven mainly by Eating Out.

Both Madrid and Gran Canaria, Canary Islands sit above the global median – Madrid by 72%, Gran Canaria, Canary Islands by 22%.

Meal at Budget Restaurant

$17.33 €15.16

$14.93 €13.06

16.08%

Three-Course Dinner for Two, Mid-Range

$68.7 €60.1

$57.3 €50.2

19.78%

Fast Food Meal (McDonalds, etc)

$11.95 €10.46

$10.54 €9.22

13.38%

Cappuccino

$3.10 €2.71

$2.17 €1.90

42.86%

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

$3.21 €2.81

$2.35 €2.06

36.60%

Water (0.33 liter bottle)

$2.14 €1.87

$1.77 €1.55

20.90%

Local Beer (0.5 liter draught)

$4.10 €3.58

$3.28 €2.87

25.00%

Imported Beer (0.33 liter bottle)

$4.55 €3.98

$3.50 €3.06

30.00%

Milk (1 liter)

$1.19 €1.04

$1.20 €1.05

-0.83%

White Bread (500g)

$1.71 €1.49

$1.41 €1.23

21.28%

Rice (white) (1kg)

$1.72 €1.50

$1.59 €1.39

8.18%

Eggs

$3.52 €3.08

$2.82 €2.47

24.82%

Local Cheese (1kg)

$14.98 €13.11

$13.59 €11.89

10.23%

Chicken Fillets (1kg)

$8.83 €7.73

$8.20 €7.17

7.68%

Beef Round Steak (1kg)

$16.75 €14.65

$15.13 €13.24

10.71%

Apples (1kg)

$2.60 €2.27

$2.54 €2.22

2.36%

Banana (1kg)

$2.22 €1.94

$1.98 €1.73

12.12%

Oranges (1kg)

$2.45 €2.14

$1.91 €1.67

28.27%

Tomato (1kg)

$2.65 €2.32

$2.64 €2.31

0.38%

Potato (1kg)

$2.07 €1.81

$1.71 €1.49

21.05%

Onion (1kg)

$2.15 €1.88

$2.04 €1.79

5.39%

Lettuce (1 head)

$1.34 €1.17

Water (1.5 liter bottle)

$0.99 €0.86

$0.76 €0.66

30.26%

Cigarettes 20 Pack (Marlboro, Camel)

$6.99 €6.11

$6.41 €5.61

9.05%

Wine (Bottle)

$7.77 €6.80

$5.96 €5.21

30.37%

Local Beer (0.5 liter bottle)

$1.43 €1.25

$1.26 €1.10

13.49%

Imported Beer (0.33 liter bottle)

$2.18 €1.91

$2.03 €1.77

7.39%

One-way Ticket (Public Transport)

$1.78 €1.56

$1.69 €1.48

5.33%

Public Transport Monthly Pass (Regular Price)

$48.79 €42.68

$34.12 €29.85

43.00%

Taxi Start (Normal Tariff)

$4.12 €3.61

$4.08 €3.57

0.98%

Taxi (Normal Tariff) (1km)

$1.39 €1.22

$1.19 €1.04

16.81%

Taxi 1hour Waiting (Normal Tariff)

$28.50 €24.93

$24.97 €21.85

14.14%

Gasoline (1 liter)

$1.92 €1.68

$1.83 €1.60

4.92%

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

$37.7K €33.0K

$39.1K €34.2K

-3.67%

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

$34.1K €29.9K

$29.7K €26.0K

14.87%

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

$193 €169

$136 €119

41.87%

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

$21.55 €18.86

$20.47 €17.91

5.28%

Internet (50+ Mbps, Unlimited Data)

$35.97 €31.47

$30.74 €26.90

17.01%

Gym Membership (Monthly)

$52.7 €46.10

$48.24 €42.20

9.22%

Tennis Court (1 Hour on Weekend)

$17.64 €15.44

$15.31 €13.39

15.22%

Cinema Ticket

$11.44 €10.01

$9.38 €8.21

21.96%

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

$669 €585

$409 €358

63.57%

International Primary School, 1 Child (Yearly)

$11.9K €10.4K

$8,183 €7,160

45.19%

Jeans (Levis 501 Or Similar)

$94.7 €82.8

$83.1 €72.7

13.88%

Summer Dress (H&M, Zara, etc)

$42.81 €37.46

$35.68 €31.21

19.98%

Sport Shoes (Adidas, Nike)

$105 €91.7

$87.3 €76.4

20.13%

Men's Leather Business Shoes

$132 €115

$106 €93.1

24.04%

1-bedroom Apartment, City Center (Monthly)

$1,607 €1,406

$848 €742

89.55%

1-bedroom Apartment, Outside City Center (Monthly)

$1,151 €1,007

$691 €605

66.57%

3-bedroom Apartment, City Center (Monthly)

$2,839 €2,483

$1,313 €1,149

116.19%

3-bedroom Apartment, Outside City Center (Monthly)

$1,879 €1,644

$1,016 €889

85.04%

Buy Apartment in City Center (m2)

$9,038 €7,907

$3,303 €2,890

173.58%

Buy Apartment Outside City Center (m2)

$4,262 €3,729

$2,291 €2,004

86.06%

Average Monthly Net Salary (After Tax)

$2,464 €2,156

20-Year Fixed Mortgage Interest Rate (Annual %)

3.43

3.5

-2.00%

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

Last update for Madrid: July 12, 2026

Last update for Gran Canaria, Canary Islands: July 13, 2026

Cost Breakdown

A central one-bedroom costs $1,607 in Madrid versus $848 in Gran Canaria, Canary Islands. 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 $69.0 in Madrid versus $57.0 in Gran Canaria, Canary Islands. Monthly groceries follow the same trend: $293 vs $262 – making Gran Canaria, Canary Islands the more affordable choice for daily food spending.

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

Yes – Madrid is pricier by about 41%, and the gap shows up most in Eating Out. It's not just housing either; the difference applies across most spending categories.

For a comfortable life, plan on about $3,439 per month in Madrid and $2,438 in Gran Canaria, Canary Islands. 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 $669 per month in Madrid and $409 in Gran Canaria, Canary Islands. For families with young kids, this one expense can tip the scales when choosing between the two cities.

Groceries cost about 12% 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 $1,625, than in Madrid at $2,293. 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.