Last update: Oct 2026

Cost of Living Comparison Between Palma de Mallorca and Madrid

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

108

Cost of Living Index in Palma de Mallorca
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Palma de Mallorca Living Index
111

Cost of Living Index in Madrid
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Madrid Living Index

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Palma de Mallorca

🇪🇸 Spain

$2,216

/mo nomad

Madrid

🇪🇸 Spain

$2,265

/mo nomad

Monthly Cost of Living

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

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

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

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

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

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

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

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

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

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

Meal at Budget Restaurant

$18.70 €16.63

$18.20 €16.19

2.75%

Three-Course Dinner for Two, Mid-Range

$66.8 €59.4

$68.1 €60.5

-1.82%

Fast Food Meal (McDonalds, etc)

$13.49 €12.00

$11.24 €9.99

20.02%

Cappuccino

$3.16 €2.81

$3.15 €2.80

0.32%

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

$2.59 €2.31

$3.36 €2.99

-22.92%

Water (0.33 liter bottle)

$2.64 €2.34

$2.36 €2.10

11.86%

Local Beer (0.5 liter draught)

$4.58 €4.07

$3.83 €3.40

19.58%

Imported Beer (0.33 liter bottle)

$3.86 €3.43

$4.92 €4.38

-21.54%

Milk (1 liter)

$1.36 €1.21

$1.32 €1.17

3.03%

White Bread (500g)

$1.13 €1.00

$1.61 €1.43

-29.81%

Rice (white) (1kg)

$1.61 €1.43

$1.65 €1.47

-2.42%

Eggs

$3.42 €3.04

$4.07 €3.62

-15.97%

Local Cheese (1kg)

$14.75 €13.12

$15.82 €14.07

-6.76%

Chicken Fillets (1kg)

$8.66 €7.71

$9.49 €8.44

-8.75%

Beef Round Steak (1kg)

$16.05 €14.28

$17.52 €15.59

-8.39%

Apples (1kg)

$2.52 €2.24

$2.56 €2.27

-1.56%

Banana (1kg)

$2.02 €1.80

$2.09 €1.86

-3.35%

Oranges (1kg)

$1.67 €1.49

$2.47 €2.19

-32.39%

Tomato (1kg)

$2.81 €2.50

$2.49 €2.22

12.85%

Potato (1kg)

$1.91 €1.69

$2.26 €2.01

-15.49%

Onion (1kg)

$2.15 €1.92

$2.15 €1.91

Lettuce (1 head)

$1.29 €1.15

$1.57 €1.40

-17.83%

Water (1.5 liter bottle)

$0.69 €0.61

$1.07 €0.95

-35.51%

Cigarettes 20 Pack (Marlboro, Camel)

$6.75 €6.00

$6.55 €5.82

3.05%

Wine (Bottle)

$5.66 €5.04

$7.65 €6.81

-26.01%

Local Beer (0.5 liter bottle)

$1.37 €1.22

$1.17 €1.04

17.09%

Imported Beer (0.33 liter bottle)

$1.95 €1.73

$2.22 €1.97

-12.16%

One-way Ticket (Public Transport)

$2.20 €1.95

$1.63 €1.45

34.97%

Public Transport Monthly Pass (Regular Price)

$41.00 €36.47

$36.42 €32.39

12.58%

Taxi Start (Normal Tariff)

$5.02 €4.47

$3.73 €3.32

34.58%

Taxi (Normal Tariff) (1km)

$1.31 €1.16

$1.54 €1.37

-14.94%

Taxi 1hour Waiting (Normal Tariff)

$24.14 €21.47

$29.17 €25.95

-17.24%

Gasoline (1 liter)

$1.80 €1.60

$1.78 €1.58

1.12%

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

$34.9K €31.1K

$35.5K €31.6K

-1.52%

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

$31.0K €27.6K

$33.2K €29.6K

-6.70%

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

$250 €222

$189 €168

32.17%

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

$23.67 €21.05

$17.48 €15.55

35.41%

Internet (50+ Mbps, Unlimited Data)

$42.21 €37.54

$34.32 €30.53

22.99%

Gym Membership (Monthly)

$61.1 €54.4

$48.62 €43.25

25.71%

Tennis Court (1 Hour on Weekend)

$27.31 €24.30

$18.44 €16.40

48.10%

Cinema Ticket

$9.56 €8.50

$11.04 €9.82

-13.41%

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

$604 €537

$693 €617

-12.95%

International Primary School, 1 Child (Yearly)

$10.3K €9,180

$17.8K €15.8K

-41.87%

Jeans (Levis 501 Or Similar)

$72.1 €64.1

$84.6 €75.3

-14.78%

Summer Dress (H&M, Zara, etc)

$54.1 €48.11

$42.50 €37.80

27.27%

Sport Shoes (Adidas, Nike)

$97.3 €86.6

$110 €98.1

-11.74%

Men's Leather Business Shoes

$131 €117

$112 €99.9

17.01%

1-bedroom Apartment, City Center (Monthly)

$1,494 €1,329

$1,506 €1,339

-0.81%

1-bedroom Apartment, Outside City Center (Monthly)

$1,048 €932

$1,170 €1,041

-10.43%

3-bedroom Apartment, City Center (Monthly)

$2,340 €2,082

$2,756 €2,451

-15.08%

3-bedroom Apartment, Outside City Center (Monthly)

$1,787 €1,590

$1,845 €1,641

-3.12%

Buy Apartment in City Center (m2)

$6,823 €6,069

$9,168 €8,155

-25.58%

Buy Apartment Outside City Center (m2)

$3,787 €3,368

$4,234 €3,766

-10.56%

Average Monthly Net Salary (After Tax)

$2,046 €1,820

$2,483 €2,209

-17.59%

20-Year Fixed Mortgage Interest Rate (Annual %)

3.07

3.14

-2.23%

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

Last update for Palma de Mallorca: October 11, 2026

Last update for Madrid: October 11, 2026

Monthly budget structure

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

Accommodation & Living

Palma de Mallorca

$1K 47.3%

Madrid

$1.2K 51.7% 11.6% $122

Monthly Utilities & Internet

Palma de Mallorca

$316 14.2%

Madrid

$241 10.6% 23.7% $75

Eating Out

Palma de Mallorca

$280 12.6%

Madrid

$269 11.9% 3.8% $11

Groceries & Markets

Palma de Mallorca

$272 12.3%

Madrid

$303 13.4% 11.6% $31

Clothing & Footwear

Palma de Mallorca

$160 7.2%

Madrid

$157 7% 1.5% $2.3

Sport & Entertainment

Palma de Mallorca

$80 3.6%

Madrid

$71 3.1% 11.9% $9.5

Getting Around

Palma de Mallorca

$61 2.8%

Madrid

$54 2.4% 11.3% $6.9

Cost Breakdown

A one-bedroom apartment in the center runs $1,494 in Palma de Mallorca and $1,506 in Madrid. 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: $67.0 in Palma de Mallorca vs $68.0 in Madrid for a mid-range dinner for two. Groceries echo the gap at $272 vs $303 per month, with Palma de Mallorca cheaper across the board.

Good to know

🇪🇸 Palma de Mallorca

🇪🇸 Madrid

🕒 Local time

19:28 7:28 PM

Same time as Palma de Mallorca

🌤 Weather

👥 Population

423,350

3,332,035 Capital

💱 Currency

Euro EUR €

📈 Exchange rate

1 EUR = 1.12 USD

Exchange rates and currency converter

On the map

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Between locations

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

From you

Palma de Mallorca
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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

Palma de Mallorca vs Madrid: 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.

On paper, salaries run 21% lower in Madrid. That's worth factoring in alongside costs, though remote workers earning in a stronger currency may not notice the difference at all.

Rent for a central apartment: $1,494 in Palma de Mallorca versus $1,506 in Madrid. 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, Palma de Mallorca and Madrid 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.