Last update: Oct 2026

Cost of Living Comparison Between Madrid and Palma de Mallorca

For one person, living costs are similar in Madrid and in Palma de Mallorca: $2,265 and $2,216 a month, rent and utilities included.

111

Cost of Living Index in Madrid
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Madrid Living Index
108

Cost of Living Index in Palma de Mallorca
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Palma de Mallorca Living Index

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Madrid

🇪🇸 Spain

$2,265

/mo nomad

Palma de Mallorca

🇪🇸 Spain

$2,216

/mo nomad

Monthly Cost of Living

How much you'll spend in Madrid and in Palma de Mallorca

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 Palma de Mallorca actually costs, broken down by who's living it.

Monthly costs for one person with rent: $2,265 in Madrid versus $2,216 in Palma de Mallorca.

Madrid $2,265
Palma de Mallorca $2,216

Estimated couple costs with rent: $3,296 in Madrid versus $3,278 in Palma de Mallorca.

Madrid $3,296
Palma de Mallorca $3,278

Monthly costs for a family of three with rent: $4,328 in Madrid versus $4,341 in Palma de Mallorca.

Madrid $4,328
Palma de Mallorca $4,341

Living in Madrid is roughly 2% more expensive than in Palma de Mallorca, and outside of rent the biggest gap is in groceries.

Both cities are pricier than the global median: Madrid 68% above, Palma de Mallorca 64% above.

Meal at Budget Restaurant

$18.20 €16.19

$18.70 €16.63

-2.67%

Three-Course Dinner for Two, Mid-Range

$68.1 €60.5

$66.8 €59.4

1.86%

Fast Food Meal (McDonalds, etc)

$11.24 €9.99

$13.49 €12.00

-16.68%

Cappuccino

$3.15 €2.80

$3.16 €2.81

-0.32%

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

$3.36 €2.99

$2.59 €2.31

29.73%

Water (0.33 liter bottle)

$2.36 €2.10

$2.64 €2.34

-10.61%

Local Beer (0.5 liter draught)

$3.83 €3.40

$4.58 €4.07

-16.38%

Imported Beer (0.33 liter bottle)

$4.92 €4.38

$3.86 €3.43

27.46%

Milk (1 liter)

$1.32 €1.17

$1.36 €1.21

-2.94%

White Bread (500g)

$1.61 €1.43

$1.13 €1.00

42.48%

Rice (white) (1kg)

$1.65 €1.47

$1.61 €1.43

2.48%

Eggs

$4.07 €3.62

$3.42 €3.04

19.01%

Local Cheese (1kg)

$15.82 €14.07

$14.75 €13.12

7.25%

Chicken Fillets (1kg)

$9.49 €8.44

$8.66 €7.71

9.58%

Beef Round Steak (1kg)

$17.52 €15.59

$16.05 €14.28

9.16%

Apples (1kg)

$2.56 €2.27

$2.52 €2.24

1.59%

Banana (1kg)

$2.09 €1.86

$2.02 €1.80

3.47%

Oranges (1kg)

$2.47 €2.19

$1.67 €1.49

47.90%

Tomato (1kg)

$2.49 €2.22

$2.81 €2.50

-11.39%

Potato (1kg)

$2.26 €2.01

$1.91 €1.69

18.32%

Onion (1kg)

$2.15 €1.91

$2.15 €1.92

Lettuce (1 head)

$1.57 €1.40

$1.29 €1.15

21.71%

Water (1.5 liter bottle)

$1.07 €0.95

$0.69 €0.61

55.07%

Cigarettes 20 Pack (Marlboro, Camel)

$6.55 €5.82

$6.75 €6.00

-2.96%

Wine (Bottle)

$7.65 €6.81

$5.66 €5.04

35.16%

Local Beer (0.5 liter bottle)

$1.17 €1.04

$1.37 €1.22

-14.60%

Imported Beer (0.33 liter bottle)

$2.22 €1.97

$1.95 €1.73

13.85%

One-way Ticket (Public Transport)

$1.63 €1.45

$2.20 €1.95

-25.91%

Public Transport Monthly Pass (Regular Price)

$36.42 €32.39

$41.00 €36.47

-11.17%

Taxi Start (Normal Tariff)

$3.73 €3.32

$5.02 €4.47

-25.70%

Taxi (Normal Tariff) (1km)

$1.54 €1.37

$1.31 €1.16

17.56%

Taxi 1hour Waiting (Normal Tariff)

$29.17 €25.95

$24.14 €21.47

20.84%

Gasoline (1 liter)

$1.78 €1.58

$1.80 €1.60

-1.11%

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

$35.5K €31.6K

$34.9K €31.1K

1.54%

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

$33.2K €29.6K

$31.0K €27.6K

7.19%

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

$189 €168

$250 €222

-24.34%

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

$17.48 €15.55

$23.67 €21.05

-26.15%

Internet (50+ Mbps, Unlimited Data)

$34.32 €30.53

$42.21 €37.54

-18.69%

Gym Membership (Monthly)

$48.62 €43.25

$61.1 €54.4

-20.45%

Tennis Court (1 Hour on Weekend)

$18.44 €16.40

$27.31 €24.30

-32.48%

Cinema Ticket

$11.04 €9.82

$9.56 €8.50

15.48%

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

$693 €617

$604 €537

14.88%

International Primary School, 1 Child (Yearly)

$17.8K €15.8K

$10.3K €9,180

72.03%

Jeans (Levis 501 Or Similar)

$84.6 €75.3

$72.1 €64.1

17.34%

Summer Dress (H&M, Zara, etc)

$42.50 €37.80

$54.1 €48.11

-21.43%

Sport Shoes (Adidas, Nike)

$110 €98.1

$97.3 €86.6

13.31%

Men's Leather Business Shoes

$112 €99.9

$131 €117

-14.54%

1-bedroom Apartment, City Center (Monthly)

$1,506 €1,339

$1,494 €1,329

0.81%

1-bedroom Apartment, Outside City Center (Monthly)

$1,170 €1,041

$1,048 €932

11.65%

3-bedroom Apartment, City Center (Monthly)

$2,756 €2,451

$2,340 €2,082

17.75%

3-bedroom Apartment, Outside City Center (Monthly)

$1,845 €1,641

$1,787 €1,590

3.22%

Buy Apartment in City Center (m2)

$9,168 €8,155

$6,823 €6,069

34.37%

Buy Apartment Outside City Center (m2)

$4,234 €3,766

$3,787 €3,368

11.80%

Average Monthly Net Salary (After Tax)

$2,483 €2,209

$2,046 €1,820

21.35%

20-Year Fixed Mortgage Interest Rate (Annual %)

3.14

3.07

2.28%

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

Last update for Madrid: October 11, 2026

Last update for Palma de Mallorca: October 11, 2026

Monthly budget structure

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

Accommodation & Living

Madrid

$1.2K 51.7%

Palma de Mallorca

$1K 47.3% 10.4% $122

Groceries & Markets

Madrid

$303 13.4%

Palma de Mallorca

$272 12.3% 10.4% $31

Eating Out

Madrid

$269 11.9%

Palma de Mallorca

$280 12.6% 3.9% $11

Monthly Utilities & Internet

Madrid

$241 10.6%

Palma de Mallorca

$316 14.2% 31.1% $75

Clothing & Footwear

Madrid

$157 7%

Palma de Mallorca

$160 7.2% 1.5% $2.3

Sport & Entertainment

Madrid

$71 3.1%

Palma de Mallorca

$80 3.6% 13.5% $9.5

Getting Around

Madrid

$54 2.4%

Palma de Mallorca

$61 2.8% 12.8% $6.9

Cost Breakdown

A one-bedroom apartment in the center runs $1,506 in Madrid and $1,494 in Palma de Mallorca. Housing cost is often the main lever when comparing two cities.

Madrid pays 21% 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 $67.0 in Palma de Mallorca for a mid-range dinner for two. Groceries echo the gap at $303 vs $272 per month, with Palma de Mallorca cheaper across the board.

Good to know

🇪🇸 Madrid

🇪🇸 Palma de Mallorca

🕒 Local time

22:00 10:00 PM

Same time as Madrid

🌤 Weather

👥 Population

3,332,035 Capital

423,350

💱 Currency

Euro EUR €

📈 Exchange rate

1 EUR = 1.12 USD

Exchange rates and currency converter

On the map

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Highest

Between locations

Madrid Palma de Mallorca 550 km ≈ 1 h 15 min nonstop flight

From you

Madrid
Palma de Mallorca

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 Palma de Mallorca: Cost of Living - Frequently Asked Questions

Palma de Mallorca wins on cost – living expenses run 2% lower than in Madrid. Housing and daily spending are where you'll feel the difference most, making Palma de Mallorca the obvious pick if budget is a priority.

Average pay runs 21% 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 $1,494 in Palma de Mallorca. Housing is usually the single largest factor when comparing overall living costs between the two.

Supermarket bills run roughly 12% higher in Madrid. For households that cook at home regularly, that difference adds up over a month.

Dining out is cheaper in Palma de Mallorca – a meal for two runs $67.0 versus $68.0 in Madrid. If you eat out regularly, this makes a real dent in your monthly spending.

At $2,216 in Palma de Mallorca versus $2,265 in Madrid, a $2,500 budget is realistic in Palma de Mallorca but tight or insufficient in Madrid. The gap between the two cities makes Palma de Mallorca the clear choice for anyone on this budget.

Both work as nomad bases, but Palma de Mallorca delivers better value – similar infrastructure at $2,216 monthly. If stretching your runway or maximizing savings is the goal, the price difference makes Palma de Mallorca hard to pass up.

Safety-wise, Madrid and Palma de Mallorca 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 Palma de Mallorca gentler on the wallet – expenses run 2% less than in Madrid. Beyond cost, consider language, visa policies, and how big the international community is in each city.