The Cost of Living in Madrid – Rental Prices for Apartments Expats Like
How much does it cost to rent a quality apartment in Madrid ?
Rental prices when living in Madrid
One of the first relocation question I get from people moving to Madrid is: “How much renting an appartment with 1/2/3/4 bedroom(s) cost ?”
For apartments expats like in neighborhoods they feel comfortable living in, the rental prices are usually the following:
- Room in Shared Flat: 400 – 550 € per month
- Studio, 3o to 50 m2: 700 – 900 € per month
- 1 Bedroom Apartment, 55-100 m2: 900 – 1500 € per month,
- 2 Bedroom Apartment, 80-120 m2:1200 – 2000 € per month, up t0 3000 € for larger premium houses and apartments (like the one of the photo),
- 3 bedroom apartment, 100-180 m2: 1500 – 2500 € per month, up to 4000 € for larger premium houses and apartments (like the one of the photo),
The apartments Madrid expats like to live in
Yes, expats and foreigners usually prefer better-than-average apartments for their relocation. And these appartments have higher-than-average prices. As I explained in “The typical Madrid apartment vs your expat quality expectations“:
“Madrid is a great place to live, but you have to know that the typical Madrid flat does not comply with the expectations of most newly arrived expats.”
In a nutshell, you will need to pay more than the market average for a an apartment you like.
Relocation reality checks
Of course, depending on the neighborhood, the distance to the city centre and the size of the apartment (the smaller the apartment, the higher), prices will vary. See my interactive map of neighborhoods of Madrid, and read the description to get a feel of the most expensive and cheapest neighborhoods.
This first estimate will enable you to see what you can afford for your relocation. A good reality check is to ensure your total net revenues are 3 to 4 times superior to rent. If the rental prices are higher than what you had in your budget, feel free to send me an e-mail. I will give you some key tips based on local knowledge of Madrid and its real estate market.
In any case, for your relocation, I recommend you do the following:
- Be aware of the conditions for renting in Madrid,
- Try to choose your target neighborhoods,
- Decide if you will need help to find a rental.
If you need more details on budgets, on the best beighbourhoods and streets for best quality/price rentals, or if you have any other relocation question, send me an e-mail.
Yours madridly,
Pierre – Moving2Madrid
I would like to know how the schools are there for a third grade child , as well as Jobs for a health care worker ?
Unfortunately, there is no reliable open information to evaluate each school, as you may have noticed on the web. I have been working to solve this situation for the just-landed expat community, and I can share with you our map centralizing all the best schools for expat kids in Madrid – the first of its kind. With my clients, we go deeper and then I help to make sure we find the best school according to their criteria.
In a nutshell, all good private schools for expat kids are in the northern part of Madrid and its northern affluent suburbs.
*
Therefore, if you live in:
* an affluent suburb in the north of Madrid, you will normally find one good expat school within 10-20 minutes car,
* Madrid city center neighborhoods we mentioned, you either have LEK in the center (10-15 minutes) or more choices of schools within 20-30 minutes metro in the north-eastern part of Madrid.
As for jobs, do check: http://moving2madrid.com/how-to-find-a-job-in-spain/
For health care worker related jobs, I recommend you contact a specialist.
Hope it helped ! All the best,
Pierre