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Live in Madrid: Learn advantages, disadvantages & costs
We tell you what it's like to live in Madrid as a foreigner. Travel to the capital of Spain and enjoy all the advantages it has to offer.
Spain’s capital is the country’s cultural hub and home to its main financial institutions as well as national and international companies. To live in Madrid is to be surrounded by opportunities. Whether you are a foreigner looking to start a business, work remotely, or study, this city has plenty to offer.
This city is a top choice for digital nomads thanks to its excellent tech infrastructure, coworking spaces, and plenty of events for meaningful networking. International students also come here to continue their studies at some of the city’s best universities, often supported by available scholarships.
In this article, we’ll explore what it’s like to live in Madrid, from the quality of life and job opportunities to healthcare options and the best places to study. We’ll also look at the main pros and cons of making the city your home. Let’s dive into life in Madrid!
What is the quality of life like in Madrid?
If you’re considering living in a European capital, Madrid is a more budget-friendly choice compared with cities like London or Paris. The city combines a high standard of living with top-notch services, including education, healthcare, job opportunities, strong internet connectivity, and a safe environment. Let’s take a closer look at each of these aspects.
Madrid, a safe city to live in
Living in Madrid generally means living in a safe city, with lower rates of violent crime than many other European capitals. In the 2023 Urban Road Safety Index, it ranked ninth among Europe’s safest cities. That said, petty theft and pickpocketing can occur in tourist spots and on the metro, so it’s smart to keep your belongings close and stay aware of your surroundings.
Wide range of educational opportunities in Madrid
As a foreign student living in Madrid, you’ll have access to a high-quality education with a wide range of programs to choose from. Even if you’re not from the EU, you can study at institutions in the capital through government student visas, private options like Erasmus+, or scholarships offered by the Spanish Ministry of Education.
Madrid offers both public and private education, with several universities recognized globally and ranked among the top 300 in the 2024 QS World University Rankings. Some of the most notable are Complutense University, the Polytechnic University of Madrid, IE University, and the Autonomous University of Madrid.
Healthcare system in Madrid
Spain is known for its excellent public healthcare, which is free for residents. Bloomberg’s 2023 Health Care Efficiency report ranks the country among the top five globally. In Madrid, the city’s health service, SERMAS, provides legal residents with universal access to medical care, including doctor visits, hospital stays, surgeries, emergencies, and specialized treatments, mostly at no direct cost. Here are some of the best hospitals in the city:
- La Paz University Hospital: Renowned for transplants and pediatric oncology.
- Gregorio Marañón Hospital: Renowned for cardiology, internal medicine, and neurology.
- San Carlos Clinical Hospital: Renowned for its stroke unit and cardiac surgery.
EU citizens should get their European Health Insurance Card (EHIC) before traveling, which allows them to receive care just like residents. For non-EU foreigners, there are also options. If you’re working and paying into social security, you’ll have access to public healthcare. If you’re not employed, you can opt into the Special Healthcare Agreement, giving you access to the system for a monthly fee.
Important: Minors and pregnant women are guaranteed free medical care regardless of their administrative status or nationality.
Economy, wages, and employment in Madrid
Madrid is the economic heart of Spain, with strong sectors like finance, including the Bank of Spain and the Madrid Stock Exchange, as well as major national and international companies. The city is also home to IFEMA, one of Europe’s largest event centers, hosting major fairs like FITUR and ARCO. This makes Madrid a city full of job opportunities across a wide range of industries.
When it comes to salaries, Eurostat reports that Madrid has some of the highest wages in Spain, although the cost of living is also higher. According to the National Statistics Institute’s 2022 survey, the average gross annual salary was $30,642, up 4.1% from the previous year. Foreigners moving to Madrid often find work in multinational companies, start-ups, language schools, or as digital nomads.
Internet connection quality
Madrid, as a key business and financial center, has strong tech infrastructure, with most coworking spaces offering speeds up to 1 GB. The city is well covered by providers like Orange, Movistar, and Vodafone. If you’re moving to Madrid as a digital nomad, a fast and reliable connection is essential, and Holafly’s monthly plans deliver just that, with unlimited data, 5G coverage, and the ability to connect two devices at once for $64.90 per month.
Important: If you are a frequent traveler and want to stay connected without worrying about expensive roaming or looking for a new SIM at every destination, Holafly’s subscription plans are for you. With a single eSIM, enjoy internet in more than 170 countries for a fixed price and no surprises on your bill. Travel without limits and connect easily and securely! 🚀🌍
Advantages of living in Madrid
So, after everything we’ve shared, are you ready to make Madrid your home? You’ve seen that, especially for workers and students, the city is full of opportunities to advance your career. On top of that, it offers many other benefits, which we’ll highlight next:
- Sunny climate: Enjoy over 300 days of sunshine each year, with mild winters and hot summers. Madrid is a city made for spending time outdoors, whether taking part in activities, strolling through El Retiro Park, or working remotely from a terrace.
- Cultural and leisure activities: It’s a city full of museums and theaters, including the Prado, Reina Sofía, and Thyssen. On the Gran Vía, you can catch the latest hit musicals and theatrical performances featuring well-known artists.
- Excellent transportation: Getting around without a car is easy. The metro connects almost every corner of the city quickly and safely, and extensive bus and train networks make commuting even more convenient.
- Large international community: Most of Madrid’s residents aren’t originally from the city, as there’s a large international community living here. This makes it easy to meet other students, digital nomads, and professionals working in fields similar to yours.
What are the disadvantages of living in Madrid as a foreigner?
Let’s take a look at some of the less favorable aspects of living in Madrid. Knowing these will help you make a more informed decision. While they aren’t usually reasons to rule out moving to the city for a period, it’s good to be aware of the potential challenges:
- High cost of living: Living in Madrid can be expensive, with costs for rent, food, and entertainment all on the higher side. For example, a one-bedroom apartment in the city center can start at $1,698 per month. Many digital nomads choose coliving spaces to help reduce expenses.
- Hot summers: In summer, the city often feels almost empty, as many residents head to the coast to escape the capital’s high temperatures, which can exceed 38 °C in July and August.
- Slow bureaucracy: Dealing with official paperwork, especially for non-EU foreigners, can be slow, often taking several months to get a response.
- No sea: If you’re used to living near the sea, adjusting to a city without beaches might be challenging, especially in the summer when you miss them the most. In that case, you might make up for it with a pool or a nearby river.
Frequently asked questions about living in Madrid
High demand drives up prices, making it difficult to find a private apartment in the main areas. Many people opt for coliving spaces or shared apartments, where rents tend to be lower.
It’s not strictly necessary, as most businesses and public services in the capital can assist you in English, but knowing the language will make day-to-day life in the city much easier.
Public transport in the city is fast and runs for long hours. Many residents take the metro to work, as it’s often easier and quicker than driving. A monthly pass costs around $62, with discounts available for students and young people.
EU citizens can enter the country without restrictions, but if you plan to stay for more than 90 days, you’ll need to register as a resident and get a European Union Registration Certificate (NIE).
Some of the safest and most desirable neighborhoods in Madrid are Chamartín, Retiro, Salamanca, Chamberí, and Moncloa-Aravaca. In general, the northern and western areas of the city are quieter than the city center.
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Hi! I'm a Spanish-English translator working with Holafly, helping bring travel content to life for curious travelers. As a digital nomad with a passion for exploring, I'm always adding new spots to my bucket list. If you love to travel like me, stick around because you're in the right place to find inspiration for your next trip! ✈️🌍
