Affordable Travel Tips for Exploring Madrid

Madrid is a city that has everything – high-class restaurants and five-star hotels, as well as a lot of top things to do if you’re on a tight budget. Each sight mentioned here should cost less than 5€ to get in – and much of what you see here is completely free of charge. This makes it perfect for families, backpackers, and budget-conscious travelers.

Madrid on a Budget – Food and Lodging

First of all, let’s get the essentials out of the way. You need somewhere to sleep and something to eat. However, it’s important to note that accommodation and food can cost you more than 5€.

Budget Accommodations in Madrid

If you want a cheap place to stay, consider a backpacker’s hostel. They have evolved and are no longer just for the young traveler. If you pay a little more (but still significantly less than a room in an expensive hotel) you can enjoy a private room with a few other guests. Additionally, most hostels provide lockers for your valuables, so you don’t have to worry about security.

Finding Inexpensive Food

To eat well on a budget, imitate the locals. Start your day with a coffee and a pastry at the bar for about 2€, followed by a substantial lunch (for around 10€). In the evening, you can explore lighter meal options mentioned later in this article.

Go for a Walk!

Walking is free, and roaming around Madrid is one of the best activities you can partake in. Consequently, many visitors are unsure of where to go. Although Madrid may not have the iconic sights that Barcelona boasts, you will still find numerous intriguing spots!

1. Puerta del Sol – The heart of Spain.
2. Plaza España – A tree-lined plaza surrounded by the oldest skyscrapers in Spain.
3. Gran Via – Madrid’s most famous boulevard.
4. Post Office – Madrid’s most beautiful building?
5. Templo de Debod – A genuine Egyptian temple in the center of Madrid!
6. Plaza Mayor – Madrid’s grandest plaza.
7. Plaza Oriente – The plaza in front of the royal palace. A great spot for coffee!
8. Arab Wall (Muralla Arabe) – The oldest remains in Madrid.
9. Plaza Paja – Previously Spain’s most significant plaza.
10. Calle Segovia – Home to charming restaurants and an impressive viaduct.
11. Plaza de Santa Ana – A historic haunt of Ernest Hemingway.
12. Calle Huertas – Known for jazz cafes and lively street musicians.
13. Cervantes House – The reputed location of the great author Miguel de Cervantes’ death.
14. Parque de Retiro – Madrid’s most famous park.
15. Lake – A lake in the Casa de Campo park.
16. Window Shopping on Calle Serrano – A premier shopping street.

Affordable Museums

If you’re unsure of what to do, visiting a museum is a fantastic option. Madrid boasts several excellent museums that are worth your time. Fortunately, all of the museums listed here cost under five euros for entry (prices as of August 2023), with many offering free entry at certain times.

1. Reina Sofia – Modern art museum. Free every evening after 7 pm (except Tuesdays).
2. Museo del Prado – Spain’s most famous art museum. Free every evening after 6 pm and Sundays after 5 pm.
3. Contemporary Art Museum – Free.
4. CaixaForum – Modern art museum, admission of 4 euros.
5. Metro Museum – This former metro station is now a free museum.
6. Blind Museum – Free entry.
7. Casa Encendida – Free entry exhibition space with inexpensive concerts and films (3-5 euros).
8. Telecommunications Museum – Free entry.
9. Museo de San Isidro – Dedicated to the history of Madrid. Free entry.
10. Archeology Museum – 3 euros, free Saturday after 2 pm and Sunday mornings.
11. Museo Lazaro – A private art collection. Free entry after 3:30 pm.
12. Sculpture Museum – Free entry.
13. Planetarium – Admission is under five euros.
14. Transport Museums – Each (air, railway, and navy) costs under 5 euros, except for the railway museum which is 6 euros Monday through Friday.
15. Museo de las Americas – Admission is 3 euros, free on Sundays.

Churches in Madrid

While Madrid may not have a Sagrada Familia, it is home to several remarkable churches:

1. Convento de Descalzos – About five euros to get in. Home to a notable art collection.
2. Madrid’s Cathedral – Free entry.
3. Basilica de San Francisco – Entry is three euros.
4. Iglesia de San Andres – Free entry.

Experience Madrid’s Cafes

Spain has a rich cafe culture. Whether you prefer a traditional cafe with a cafe con leche or a colorful modern venue, exploring cafes in Madrid is an excellent way to experience authentic Spanish life without spending much.

1. Cafes on Calle Espiritu Santu – Retro spots like La Lolina or the social J6J English bookshop and cafe. Coffee for under two euros.
2. Cafe Commercial – Iconic café in Spain with coffee for under two euros.
3. Moroccan Teahouses – Try various spiced teas for around three euros.
4. Cafe Barbieri – Enjoy classical music and the best cafe bonbon in Madrid!

Affordable Dining Options

If you’ve had a substantial lunch (typically cheaper), you can opt for something light for dinner, which is where tapas come into play. Here are some recommendations that are budget-friendly:

1. Casa Labra – Sample a small beer paired with cod croquettes.
2. Casa de las Torrijas – Treat yourself to Spanish bread pudding and sweet Spanish wine.
3. Casa Granada – A hidden gem for drinks.
4. Chocolateria de San Gines – Indulge in the best chocolate con churros in Spain.
5. Calamares Sandwich at El Brillante – Fresh calamari in a hearty sandwich.
6. El Tigre – Famously cheap tapas where a beer gets you three (or more) tapas.
7. El Magister – Enjoy house-brewed beer with a free tapa with every drink.

After a Day of Exploration…

Several less categorizable sights await you:

1. Royal Palace – Free entry Monday – Thursday evenings for EU citizens.
2. Rastro – Famous flea market to explore on Sunday mornings.
3. Botanical Gardens – Approximately 4 euros for entry.
4. Atocha Train Station – Features a tropical garden and memorial for 2004 attack victims.
5. Cable Car – Costing under five euros to access the serene Casa del Campo park.
6. “Faro” Look-Out Point – 3 euros for a breathtaking view of the city.

Discover Madrid’s Nightlife

If you’re still energized after a long day, take the opportunity to experience Madrid’s vibrant nightlife!

1. La Solea – Free flamenco performances in a casual atmosphere; just purchase a drink to enjoy.
2. Via Lactea – An iconic bar with beers around three euros.
3. Diplodocus Bar – Share large drinks among friends to keep your budget intact.
4. Bars on Calle Ave Maria – A charming street in Lavapies featuring friendly local bars.