Cost of Living Comparison Between Madrid and Palma de Mallorca Cost of Living Comparison Between Madrid and Palma de Mallorca

Monthly Cost of Living

Monthly costs for one person with rent: $2,253 in Madrid versus $2,185 in Palma de Mallorca.

Estimated couple costs with rent: $3,329 in Madrid versus $3,219 in Palma de Mallorca.

Monthly costs for a family of three with rent: $4,404 in Madrid versus $4,252 in Palma de Mallorca.

Living in Madrid is roughly 3% more expensive than Palma de Mallorca, driven mainly by Eating Out.

Both cities are pricier than the global median: Madrid 68% above, Palma de Mallorca 63% above.

Meal at Budget Restaurant

$17.05 €14.66

$17.43 €14.99

-2.18%

Three-Course Dinner for Two, Mid-Range

$68.6 €59.0

$62.7 €53.9

9.33%

Fast Food Meal (McDonalds, etc)

$11.73 €10.09

$14.03 €12.07

-16.39%

Cappuccino

$3.06 €2.63

$3.35 €2.88

-8.66%

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

$3.21 €2.76

$2.86 €2.46

12.24%

Water (0.33 liter bottle)

$2.18 €1.87

$2.80 €2.41

-22.14%

Local Beer (0.5 liter draught)

$3.94 €3.39

$4.65 €4.00

-15.27%

Imported Beer (0.33 liter bottle)

$4.67 €4.02

$4.49 €3.86

4.01%

Milk (1 liter)

$1.20 €1.03

$1.16 €1.00

3.45%

White Bread (500g)

$1.68 €1.45

$1.63 €1.40

3.07%

Rice (white) (1kg)

$1.69 €1.45

$1.76 €1.52

-3.98%

Eggs

$3.34 €2.88

$3.34 €2.87

Local Cheese (1kg)

$14.91 €12.83

$16.31 €14.03

-8.58%

Chicken Fillets (1kg)

$8.93 €7.68

$9.41 €8.09

-5.10%

Beef Round Steak (1kg)

$16.84 €14.49

$16.13 €13.88

4.40%

Apples (1kg)

$2.73 €2.34

$2.45 €2.10

11.43%

Banana (1kg)

$2.11 €1.82

$1.91 €1.64

10.47%

Oranges (1kg)

$2.54 €2.19

$1.93 €1.66

31.61%

Tomato (1kg)

$2.65 €2.28

$2.92 €2.51

-9.25%

Potato (1kg)

$2.15 €1.85

$1.85 €1.59

16.22%

Onion (1kg)

$2.10 €1.81

$2.30 €1.98

-8.70%

Lettuce (1 head)

$1.35 €1.17

$1.30 €1.12

3.85%

Water (1.5 liter bottle)

$0.97 €0.84

$0.71 €0.61

36.62%

Cigarettes 20 Pack (Marlboro, Camel)

$6.82 €5.87

$6.78 €5.83

0.59%

Wine (Bottle)

$8.15 €7.01

$5.77 €4.97

41.25%

Local Beer (0.5 liter bottle)

$1.39 €1.20

$1.30 €1.12

6.92%

Imported Beer (0.33 liter bottle)

$2.19 €1.88

$1.79 €1.54

22.35%

One-way Ticket (Public Transport)

$1.77 €1.52

$2.30 €1.98

-23.04%

Public Transport Monthly Pass (Regular Price)

$49.07 €42.21

$44.31 €38.11

10.74%

Taxi Start (Normal Tariff)

$4.01 €3.45

$5.05 €4.34

-20.59%

Taxi (Normal Tariff) (1km)

$1.33 €1.14

$3.15 €2.71

-57.78%

Taxi 1hour Waiting (Normal Tariff)

$29.19 €25.11

$25.06 €21.56

16.48%

Gasoline (1 liter)

$1.93 €1.66

$1.85 €1.59

4.32%

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

$37.2K €32.0K

$38.7K €33.3K

-3.90%

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

$34.4K €29.6K

$32.6K €28.0K

5.48%

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

$195 €167

$247 €212

-21.05%

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

$21.66 €18.64

$21.92 €18.86

-1.19%

Internet (50+ Mbps, Unlimited Data)

$35.51 €30.54

$42.42 €36.49

-16.29%

Gym Membership (Monthly)

$53.8 €46.26

$58.9 €50.7

-8.74%

Tennis Court (1 Hour on Weekend)

$17.95 €15.44

$22.18 €19.08

-19.07%

Cinema Ticket

$11.55 €9.94

$9.51 €8.18

21.45%

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

$676 €582

$600 €516

12.66%

International Primary School, 1 Child (Yearly)

$12.1K €10.4K

$12.3K €10.6K

-1.38%

Jeans (Levis 501 Or Similar)

$94.2 €81.1

$96.2 €82.7

-2.03%

Summer Dress (H&M, Zara, etc)

$42.77 €36.79

$63.8 €54.9

-32.95%

Sport Shoes (Adidas, Nike)

$106 €90.9

$96.9 €83.3

9.06%

Men's Leather Business Shoes

$134 €116

$135 €116

-0.60%

1-bedroom Apartment, City Center (Monthly)

$1,566 €1,347

$1,328 €1,142

17.92%

1-bedroom Apartment, Outside City Center (Monthly)

$1,149 €988

$1,016 €874

13.06%

3-bedroom Apartment, City Center (Monthly)

$2,826 €2,431

$2,085 €1,794

35.52%

3-bedroom Apartment, Outside City Center (Monthly)

$1,884 €1,621

$1,690 €1,454

11.51%

Buy Apartment in City Center (m2)

$9,077 €7,808

$7,092 €6,100

27.99%

Buy Apartment Outside City Center (m2)

$4,511 €3,880

$3,824 €3,289

17.97%

Average Monthly Net Salary (After Tax)

$2,626 €2,259

$2,063 €1,774

27.30%

20-Year Fixed Mortgage Interest Rate (Annual %)

3.43

3.59

-4.46%

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

Last update for Madrid: May 31, 2026

Last update for Palma de Mallorca: June 1, 2026

Cost Breakdown

A one-bedroom apartment in the center runs $1,566 in Madrid and $1,328 in Palma de Mallorca. Housing cost is often the main lever when comparing two cities.

Madrid pays 27% 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: $69.0 in Madrid vs $63.0 in Palma de Mallorca for a mid-range dinner for two. Groceries echo the gap at $294 vs $284 per month, with Palma de Mallorca cheaper across the board.

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 3% 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.

Madrid pays 27% more on average, 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: $1,566 in Madrid versus $1,328 in Palma de Mallorca. Housing is usually the single largest factor when comparing overall living costs between the two.

Supermarket bills run roughly 3% 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 $63.0 versus $69.0 in Madrid. If you eat out regularly, this makes a real dent in your monthly spending.

At $2,185 in Palma de Mallorca versus $2,253 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 $2,185 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 3% less than in Madrid. Beyond cost, consider language, visa policies, and how big the international community is in each city.