Rent price in Madrid
Madrid · Comunidad de Madrid
Estimated rent · IPVA 2023
Net income
19.6k€
per capita/yr
Unemployment
7%
SEPE
Population
3507k
residents
In 2023, the estimated rent in Madrid is €1006/month (INE IPVA index), a +2.7% annual change and 5.9% higher than in 2020. Estimated provincial average in Madrid: €1002/month.
Full guide: living in Madrid
Monthly budget, required salary and mortgage estimate
National market context
National rank
#20
out of 753 municipalities
vs CCAA
+4€
region avg: €1002
Trend vs Spain
+0.4%
avg: 2.3%
Trend vs region
+0.4%
region avg: €2.3
Madrid ranks among the 50 most expensive municipalities in Spain (position 20 of 753).
Rent price evolution
Estimated monthly rent in Madrid (€/month). Source: INE IPVA.
Income and housing effort
Net income per capita
19.632€
per year · INE Atlas
Average household income
49.916€
per year
Rent-to-income ratio
61.5%
of per capita income
Average gross salary
34.410€
per year · Comunidad de Madrid
Rent-to-salary ratio
35.1%
of annual gross salary
The national average effort is 55.3% of per capita income. Madrid is 6 points above that average.
Source: INE Atlas of Household Income Distribution · INE Survey of Wage Structure (op.140). Gross salary is the Comunidad de Madrid average.
What would it cost to live in Madrid?
Calculate your mortgage payment, required salary and real cost of living.
Go to calculators →Registered unemployment
Estimated unemployment rate
7%
of estimated active population
Registered unemployed
130,572
people
Annual change
-3%
vs same month previous year
Source: SEPE (Spanish Public Employment Service)
Climate
Monthly max & min temperature (°C) · 2015–2024 normals
Source: Open-Meteo · ERA5 reanalysis (ECMWF)
Rent index evolution
| Year | INE IPVA Index | Estimated rent |
|---|---|---|
| 2023 | 118.336 | 1006€ |
| 2022 | 115.277 | 980€ |
| 2021 | 112.414 | 956€ |
| 2020 | 111.809 | 950€ |
Idealista
Rental flats in Madrid →
External link to Idealista. UrbanStatsLab may earn a commission.
Frequently asked questions
How much does it cost to rent in Madrid?
The estimated rent in Madrid is €1006/month in 2023, according to the INE Housing Rental Price Index (IPVA).
Have rents gone up or down in Madrid?
Rent in Madrid has risen by 2.7% compared to the previous year, per the INE IPVA index.
Is Madrid expensive to rent compared to the national average?
Yes, rent in Madrid (€1006/month) is 55% above the national average (€648/month).
How much do you need to earn to live in Madrid?
Applying the 30% rule (rent should not exceed 30% of net income), you need approximately €40000 net per year to live in Madrid with a rent of €1006/month.
What would a mortgage cost in Madrid?
For an estimated property price of €200,000 in Madrid (based on current rent of €1006/month), the monthly mortgage payment would be €801 over 25 years at 3.5% APR. Down payment and purchase costs amount to approximately €60,000 (20% down + ~10% costs).
Madrid province
View all municipalities and compare prices
Other municipalities in Madrid
Municipalities with similar rent
Municipalities in Spain with a similar rent to Madrid (±10%)
Want to compare Madrid with another municipality?
Rent, income, population and more, side by side.
Official source
Instituto Nacional de Estadística
Organismo estadístico oficial del Estado español
www.ine.es View source →Methodology
Data comes from the Housing Rental Price Index (IPVA) published by Spain's National Statistics Institute (INE), with base 100 in 2015. The estimated rent is calculated by applying the index to the median reference price for the province in 2015.
Source: INE IPVA base 2015=100 · INE code: 28079