Question
What monthly income range do you think is necessary for living in Madrid? Considering factors such as housing, utilities, food, transportation, and leisure activities, what would be a good benchmark to aim for?
Answers
These are the answers of Spainguru’s Facebook group members:
“2k and live comfortably.”
“The answer to your question depends on what you mean by comfortable living.”
“$8000 USD to have anything left to save, based on long term rental costs.”
“At least 2k a month if you want to live comfortably, going out regularly, doing sports, and traveling. Just rent of a small studio apartment is around 1k.”
“Depends on your definition of comfortable, what area you want to live in, and whether or not you have anyone else to support.”
“For pure living and a single person, retired, not needing to build savings, in the center of Madrid, I would want around €4000 to also accommodate my likes for travel and social activities.”
“€1500-2k after taxes minimum depending on housing cost and lifestyle.”
“I get 2’200€ a month and it’s enough to afford my 700€ Studio and live comfortably.”
“Check out Madrid’s cost of living on Numbeo. It’s quite accurate. There is a breakdown per item cost, and a monthly estimation for living expenses says 750 euros without rent for a single person, and rent ranging 850-1,250 euros a month for a one-bedroom depending on the area.”
“€1,500. You don’t need more than that.”
“Somewhere between $3k and $14k a month depending on where you live and how much you eat out.”
Conclusion
The recommended monthly income for a comfortable lifestyle in Madrid varies widely among contributors, reflecting diverse lifestyles and personal circumstances.
Figures range from €1,500 to €8,000 USD, with common estimates around €2,000 to €4,000, considering all personal expenses and desires for leisure activities. The actual amount will greatly depend on individual lifestyle choices, the specific area of Madrid, and whether the person has dependents
Here’s a table summarizing the suggested monthly income ranges necessary for living in Madrid based on different lifestyle choices and living conditions:
| Monthly Income | Description |
|---|---|
| €1,500 | Minimal comfortable living for a single person without rent, allowing for basic leisure activities. |
| €2,000 | Adequate for a comfortable lifestyle including regular outings, sports, and some travel. Rent for a small studio might consume half of this budget. |
| €2,200 | Sufficient to cover a €700 studio and live comfortably, with discretionary spending for moderate social and leisure activities. |
| €3,000 – €4,000 | Provides a very comfortable lifestyle with more room for dining out, entertainment, higher-end housing, and savings. Suitable for singles or couples without children. |
| $3,000 – $14,000 | Wide range depending on specific lifestyle choices, housing in upscale areas, and frequent dining and travel, suitable for high earners seeking luxury living. |
| €4,000 | Ideal for those wanting to fully enjoy city life with ample budget for travel, luxury social activities, and saving, typically for retirees or high-income earners. |
