Quick answer: Madrid runs about EUR 125 per day mid-range - noticeably less if you eat local and walk. Cheapest window: March-May and September-November - sunny and mild, July-August afternoons are punishingly hot.
What things actually cost
| cafe con leche | 1.80 EUR |
| cana (small draft beer) | 2.50 EUR |
| menu del dia lunch | 13 EUR |
| metro single ticket | 1.50 EUR |
| Prado Museum entry | 15 EUR |
| churros con chocolate | 6 EUR |
Eat well for little
- Bocadillo de calamares near Plaza Mayor4-5 EUR, Madrid's fried squid sandwich ritual
- Menu del dia (three-course set lunch with drink)12-15 EUR at neighborhood restaurants on weekdays
- Churros con chocolate at Chocolateria San Ginesabout 6 EUR, open since 1894
- Cana plus free or cheap tapa in La Latina3-4 EUR per stop, crawl instead of one sit-down
- Cocido madrileno (chickpea stew)15-20 EUR, a heavy winter classic served in courses
Money mistakes to avoid
- Showing up for dinner at 6pmmost kitchens open around 8:30pm, do a menu del dia at 2pm like locals instead
- Paying full price at the Pradoit is free the last two hours Monday to Saturday evenings, just expect a queue
- Basing yourself right on Puerta del Solnoisy and overpriced, Letras or La Latina are minutes away and nicer
- Cramming all three big museums into one daypick one per day and pair it with a neighborhood
Transport without the tourist tax
From Barajas Airport take the Cercanias C-1 train (about 2.60 EUR) or the 24/7 Airport Express bus (5 EUR) to the center in around 30-40 minutes. The metro is excellent - singles cost 1.50-2 EUR and a 10-ride Metrobus pass about 12 EUR.
Planning the full trip? Start with the 4-day Madrid itinerary.