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Cheap apartments for rent in Madrid

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Most popular cheap apartments for rent in Madrid

ApartmentFrom 3 March 2025

1-bedroom apartment for rent in Latina, Madrid

When it comes to renting in Madrid, you can find an apartment to suit any budget. Madrid has flexible apartment options in terms of price, size, and location. Housing in the high-energy Spanish capital is known to be affordable in comparison to other capitals in Europe. Rooms in shared apartments can be as low as 250 euros and up to 700 euros, mostly depending on what you’re looking for.

Moving to the big city with a couple friends? Find yourself an entire living space to share with your best friends and split the cost! This is quite common, and you won’t be disappointed with how much you’ll have to end up paying. Do be wary of high seasons: the period when there are loads of expats and new-comers trying to find an apartment all at once. This usually starts at the end of the summer in the months of August and September, translating to higher prices and apartments being swiped at an instant! If possible, It’s strongly recommended to start your hunt in the early summer months of June or July.

If you can’t seem to find many options within your budget in the centre of Madrid, do not fret. Some of the coolest neighbourhoods are found outside the city centre, but the metro keeps you well connected. The public transportation system in Madrid can get you practically anywhere in the city.

Look into northern neighbourhoods from the centre that are accessible by only a few metro stops and are still bursting with social life and culture. Chamberí is home to many expats and university students. You could also submerge into local culture and spare yourself more cash in southern neighbourhoods like Pacifico and Delicias. Or cruise through the cobbled streets of Embajadores and Lavapies that are rich in culture, vibrant African and Indian spots, and edgy art shows.

Most of the apartments on Spotahome are furnished. Save yourself–and your wallet–a lot of stress and get yourself a furnished apartment for your stay in Madrid.

Is Madrid affordable?

Spain has very affordable housing in comparison to other countries in Europe. The capital may be one of the most expensive cities to live in the country, even with that, you will most definitely find something in your budget. Find out average prices for what you’re looking for on Spotahome’s website. Whether it’s a room in a shared apartment, or an entire accommodation: Spotahome has it all.

Where can I find the cheapests apartments in Madrid?

The cheapest apartments are found in the outer neighbourhoods from the centre. However, those who want to indulge into the centre’s liveliness can still find affordable options. Prices tend to fluctuate and this can either be in your favour or not. A bit north of the centre is home to Barrio de Chamberí. Filled with both modern and traditional affordable housing options and home to many expats. Or live like a local south of Retiro. Pacifico and Delicias won’t empty out your bank account and are just a couple metro stops from where all the action is happening! Take advantage of the local shops and groceries which tend to be cheaper in these areas.

What can be included in a cheap apartment in Madrid?

Cheap apartments can include different amenities and utility bills. We know how unpredictable utility bills can be. Spotahome has a large selection of accommodations that have all of your bills included in the rent price, sometimes including wifi! That way, you’ll always know what you’re paying for and no more unpleasant surprises at the end of the month.

Is it cheaper to rent a furnished apartment in Madrid?

Finding a furnished apartment in Madrid might be the best decision for you if you’re planning on a medium-short term stay. Renting an apartment that is move-in-ready will take a tremendous weight off your shoulders. It’s strongly recommended to find places that are already furnished. You don’t want to be left with tons of furniture and not know what to do with it once your contract is over! Most apartments on Spotahome have already furnished apartments that are waiting to be filled with all your personal belongings.

If I can't find a cheap apartment in Madrid, what options do I have?

If you’re having a difficult time finding a cheap apartment in Madrid, there can be many factors that come into play. Some of these factors can depend on availability, or if there is a high influx of people moving to the city at once. These are usually predictable during a certain period. Find yourself a short term stay until the storm of people looking for rent blows over. Spotahome has landlords that offer short term stays for as little as a month. Another option is to look for rooms in shared apartments. If you are new to the city it could be also a great way to first make new friends.

Expert tips for saving money while living in Madrid

Saving money in Madrid can be difficult if you don’t set budgets for yourself. Even though prices are on average lower, you might find yourself to get carried away and these costs can add up. If you’re under the age of 26, take advantage of the joven metro card which gives you unlimited metro and bus rides for only 20 euros a month! Many groceries like Carrefour also have a joven savings card for those under the age of 30. And lastly, don’t fall into any tourist traps! Get drinks or tapas at small local restaurants and bars. These local hole-in-the-walls usually have the most authentic Spanish cuisine at the best prices!

Information about our rentals in Madrid

🏠 Nº of properties
3061 flats and apartments for rent
💵 Minimum monthly price
starting from 200 €
✔️ Verified properties
2349 homes
💰 Deposit not required
673 rentals
🐶 Pets allowed
898 properties
🎓 Ideal for students
1420 accommodations
💖 Ideal for couples
1470 accommodations
☀️ With balcony/terrace
1153 homes