Last update: Oct 2026

Cost of Living Comparison Between Madrid and Ibiza

For one person, living is cheaper in Madrid: $2,265 a month against $2,590 in Ibiza, rent and utilities included – about $3,900 less a year. Higher rent and utilities in Ibiza outweigh lower spending on other living expenses.

111

Cost of Living Index in Madrid
Learn more

Madrid Living Index
163

Cost of Living Index in Ibiza
Learn more

Ibiza Living Index

Jump to prices

Madrid

🇪🇸 Spain

$2,265

/mo nomad

Ibiza

🇪🇸 Spain

$2,590

/mo nomad

Monthly Cost of Living

How much you'll spend in Madrid and in Ibiza

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 Ibiza actually costs, broken down by who's living it.

Monthly costs for one person with rent: $2,265 in Madrid versus $2,590 in Ibiza.

Madrid $2,265
Ibiza $2,590

Estimated couple costs with rent: $3,296 in Madrid versus $3,650 in Ibiza.

Madrid $3,296
Ibiza $3,650

Monthly costs for a family of three with rent: $4,328 in Madrid versus $4,710 in Ibiza.

Madrid $4,328
Ibiza $4,710

Living in Madrid costs roughly 13% less than in Ibiza, and outside of rent the biggest gap is in groceries.

Both cities are pricier than the global median: Madrid 68% above, Ibiza 92% above.

Meal at Budget Restaurant

$18.20 €16.19

$22.62 €20.12

-19.54%

Three-Course Dinner for Two, Mid-Range

$68.1 €60.5

$88.5 €78.7

-23.10%

Fast Food Meal (McDonalds, etc)

$11.24 €9.99

$12.22 €10.87

-8.02%

Cappuccino

$3.15 €2.80

$3.16 €2.81

-0.32%

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

$3.36 €2.99

$2.63 €2.34

27.76%

Water (0.33 liter bottle)

$2.36 €2.10

$2.42 €2.15

-2.48%

Local Beer (0.5 liter draught)

$3.83 €3.40

$3.33 €2.96

15.02%

Imported Beer (0.33 liter bottle)

$4.92 €4.38

$4.10 €3.64

20.00%

Milk (1 liter)

$1.32 €1.17

$1.36 €1.21

-2.94%

White Bread (500g)

$1.61 €1.43

$3.33 €2.96

-51.65%

Rice (white) (1kg)

$1.65 €1.47

Eggs

$4.07 €3.62

Local Cheese (1kg)

$15.82 €14.07

$20.06 €17.84

-21.14%

Chicken Fillets (1kg)

$9.49 €8.44

Beef Round Steak (1kg)

$17.52 €15.59

Apples (1kg)

$2.56 €2.27

Banana (1kg)

$2.09 €1.86

Oranges (1kg)

$2.47 €2.19

Tomato (1kg)

$2.49 €2.22

Potato (1kg)

$2.26 €2.01

Onion (1kg)

$2.15 €1.91

Lettuce (1 head)

$1.57 €1.40

Water (1.5 liter bottle)

$1.07 €0.95

Cigarettes 20 Pack (Marlboro, Camel)

$6.55 €5.82

Wine (Bottle)

$7.65 €6.81

Local Beer (0.5 liter bottle)

$1.17 €1.04

$1.32 €1.17

-11.36%

Imported Beer (0.33 liter bottle)

$2.22 €1.97

One-way Ticket (Public Transport)

$1.63 €1.45

$2.31 €2.06

-29.44%

Public Transport Monthly Pass (Regular Price)

$36.42 €32.39

Taxi Start (Normal Tariff)

$3.73 €3.32

$4.44 €3.95

-15.99%

Taxi (Normal Tariff) (1km)

$1.54 €1.37

$1.34 €1.19

14.93%

Taxi 1hour Waiting (Normal Tariff)

$29.17 €25.95

$24.91 €22.15

17.10%

Gasoline (1 liter)

$1.78 €1.58

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

$35.5K €31.6K

$35.1K €31.3K

0.99%

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

$33.2K €29.6K

$28.8K €25.6K

15.44%

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

$189 €168

$216 €193

-12.74%

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

$17.48 €15.55

$19.78 €17.59

-11.63%

Internet (50+ Mbps, Unlimited Data)

$34.32 €30.53

$32.04 €28.50

7.12%

Gym Membership (Monthly)

$48.62 €43.25

$107 €94.9

-54.40%

Tennis Court (1 Hour on Weekend)

$18.44 €16.40

$56.8 €50.5

-67.52%

Cinema Ticket

$11.04 €9.82

$16.07 €14.30

-31.30%

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

$693 €617

$821 €731

-15.58%

International Primary School, 1 Child (Yearly)

$17.8K €15.8K

$22.0K €19.6K

-19.45%

Jeans (Levis 501 Or Similar)

$84.6 €75.3

$40.35 €35.89

109.67%

Summer Dress (H&M, Zara, etc)

$42.50 €37.80

Sport Shoes (Adidas, Nike)

$110 €98.1

$68.0 €60.5

62.22%

Men's Leather Business Shoes

$112 €99.9

1-bedroom Apartment, City Center (Monthly)

$1,506 €1,339

$2,048 €1,822

-26.47%

1-bedroom Apartment, Outside City Center (Monthly)

$1,170 €1,041

$1,700 €1,512

-31.18%

3-bedroom Apartment, City Center (Monthly)

$2,756 €2,451

$4,042 €3,596

-31.82%

3-bedroom Apartment, Outside City Center (Monthly)

$1,845 €1,641

$2,619 €2,329

-29.56%

Buy Apartment in City Center (m2)

$9,168 €8,155

$6,860 €6,102

33.65%

Buy Apartment Outside City Center (m2)

$4,234 €3,766

$2,686 €2,389

57.64%

Average Monthly Net Salary (After Tax)

$2,483 €2,209

$1,824 €1,622

36.16%

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 Ibiza: October 11, 2026

Monthly budget structure

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

Accommodation & Living

Madrid

$1.2K 51.7%

Ibiza

$1.7K 65.6% 45.3% $530

Groceries & Markets

Madrid

$303 13.4%

Ibiza

$114 * 4.4% 62.5% $189

Eating Out

Madrid

$269 11.9%

Ibiza

$301 11.6% 11.7% $32

Monthly Utilities & Internet

Madrid

$241 10.6%

Ibiza

$268 10.4% 11.5% $28

Clothing & Footwear

Madrid

$157 7%

Ibiza

$49 * 1.9% 69% $109

Sport & Entertainment

Madrid

$71 3.1%

Ibiza

$139 5.4% 96.3% $68

Getting Around

Madrid

$54 2.4%

Ibiza

$20 * 0.8% 62.6% $34

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 $2,048 in Ibiza. Housing cost is often the main lever when comparing two cities.

Madrid pays 36% more on average while also being the cheaper of the two. The combined effect is a noticeably stronger local purchasing power.

Dining out: $68.0 in Madrid vs $89.0 in Ibiza. Groceries flip the comparison at $303 vs $114, with Ibiza cheaper for home cooking.

Good to know

🇪🇸 Madrid

🇪🇸 Ibiza

🕒 Local time

18:40 6:40 PM

Same time as Madrid

🌤 Weather

👥 Population

3,332,035 Capital

49,727

💱 Currency

Euro EUR €

📈 Exchange rate

1 EUR = 1.12 USD

Exchange rates and currency converter

On the map

Lowest

Highest

Between locations

Madrid Ibiza 470 km

From you

Madrid
Ibiza

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 Ibiza: Cost of Living - Frequently Asked Questions

Madrid and Ibiza differ by about 14% in total monthly costs ($2,265 vs $2,590 including rent). Madrid is meaningfully more affordable – a gap that matters a lot on a fixed or modest income.

Average pay runs 36% 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 $2,048 in Ibiza. Housing is usually the single largest factor when comparing overall living costs between the two.

Childcare runs $693 in Madrid versus $821 in Ibiza. Over years of preschool, even a modest monthly gap compounds into a major financial factor for families.

Dining out is cheaper in Madrid – a meal for two runs $68.0 versus $89.0 in Ibiza. If you eat out regularly, this makes a real dent in your monthly spending.

At $2,265 in Madrid versus $2,590 in Ibiza, a $2,000 budget is realistic in Madrid but tight or insufficient in Ibiza. The gap between the two cities makes Madrid the clear choice for anyone on this budget.

Both cities offer a good standard of living with different trade-offs. Neither is objectively better – the right pick depends on what matters most: affordability, career, cultural scene, or climate.

Safety-wise, Madrid and Ibiza 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 Madrid gentler on the wallet – expenses run 14% less than in Ibiza. Beyond cost, consider language, visa policies, and how big the international community is in each city.