Backpacking Madrid (The Definite Budget Guide)

This guide is part of our main page where you can compare all hostels in Madrid. Instantly find the best-rated hostels and real-time prices from Hostelworld and Booking.com. Compare prices side-by-side and save money every time. Learn how we compare prices.

Find your Perfect Hostel in Madrid

Backpacking Madrid is easier than it looks and cheaper than most European capitals—if you know a few local tricks.

This guide packs everything I’ve learned after multiple hostel hops into one place, so you can land, drop your bag, and get on with the fun.

Top Picks: The Best Hostels in Madrid

Best for Hostel Newbies

Onefam Sungate9.7

from $19.63 | More Details

Best for Female Solo Traveler

The Hat9.3

from $20.25 | More Details

Best Party Hostel

Onefam Madrid9.6

from $17.89 | More Details

This is not an ad. We help you find the perfect hostel and compare prices from Hostelworld and Booking. You can save up to 23.7%

Budget & Estimated Daily Costs in Madrid

Madrid sits right in the middle: not bargain-basement, not bank-breaking. Plan your cash like this.

• Shoestring (€45-€60)
  • 8-to-12-bed dorm.
  • Tostada breakfast, menu del día lunch, market dinner.
  • Free museums and parks.
  • 10-trip metro card shared with a friend.
• Comfort (€70-€90)
  • 4-to-6-bed dorm or pod bed.
  • Tapas crawl plus craft beer.
  • One paid museum or rooftop.
  • Cercanías day-trip ticket.
• Flashpacker (€100-€130)
  • Private hostel room.
  • Full restaurant dinner, churros at San Ginés.
  • Club entry + drink package.
  • Fast-train day trip.

Bump everything by 20 % during big festivals; drop it the week after.

Short and crisp: The Best Hostels in Madrid

1. Los Amigos Hostel - best for Quiet Rest, Solo Traveller
2. Barbieri International
3. Albergue Juvenil San Fermin
4. Equity Point Metropol
5. Hostal Miralva - best for Older travelers (+50), Quiet Rest

Los Amigos Hostel

8.5

Centro

"…And in a good location, only 5 minutes from the Puedo del Sol central square. It was great: the more

Barbieri International

8.2

"…There is also a full kitchen, and the rooms and bathrooms are good. One negative point, after more

Albergue Juvenil San Fermin

9.1

"…It was good in terms you meet different people but you do not speak there language you wont be more

Equity Point Metropol

8.5

"…The internet only worked about sixty percent of the time we were there. Most people stay to more

Hostal Miralva

8.7

"…The windows are big so you will not be too hot inside. Atmosphere: There isn't a party more

from

$32.15

Typical Daily Expenses in Madrid

• Accommodation – €22-€30 per dorm bed (shoulder), €35-€45 (peak).
• Food – €22 average.
  • Breakfast €3-€5: café con leche + pastry.
  • Lunch €9-€14: two-course menu del día with drink.
  • Dinner €8-€12: three tapas rounds or supermarket salad.
• Transport – €1.50 single, €12.20 ten-trip, €8.40 tourist day pass.
• Attractions – €0-€15. Prado and Reina Sofía free evenings; royal palace €12.
• Extras – €10-€20: bar cover, late-night bocadillo, small souvenirs.

Shoestring total ≈ €55. Comfortable ≈ €80. Anything past €100 feels fancy.

Money Saving Tips

• Time your meals – Lunch deals run 1-4 p.m.; same plate costs double at night.
• Drink like locals – Order caña, the small beer; cheaper and stays cold.
• Use free hours – Prado (6-8 p.m. Mon-Sat), Reina Sofía (7-9 p.m. Wed-Sat).
• Split portions – Raciones in La Latina feed two; ask for extra bread.
• Take the bus from airport – EMT Express Line €5 vs. €30 cab.
• BYO bottle – Tap water is safe; fill up at Retiro fountains.
• Ride night buses – “Búhos” run after 1:30 a.m.; ticket €1.50.
• Shop in Lavapiés – Ethnic groceries sell fruit for half supermarket price.

Getting Around Madrid on a Budget

• Feet first – Gran Vía to Malasaña in 15 minutes; map apps overstate distance.
• Metro – 300 stations, air-con, runs 6 a.m.–1:30 a.m.; last train boards ~1 a.m.
• Bus – Great for hillside barrios like La Almudena; Google Maps timings accurate.
• BiciMAD bikes – €0.50 first half-hour; docks near most hostels.
• Cercanías – Cheap commuter trains to Toledo, Aranjuez, El Escorial.
• Car-share apps – Cabify Pool can beat metro price if three riders split.

Pro tip: download the official “Madrid Metro” app; shows live disruptions in English.

Best Free & Budget Friendly Attractions

Free Things to Do

• Golden hour at Templo de Debod—skyline photos for zero euros.
• Retiro Park segway meetups—join free Facebook groups.
• El Rastro flea market—Sunday browsing, no purchase required.
• La Tabacalera squat art center—graffiti tunnels and community shows.
• Watch street flamenco outside the Opera metro stop at dusk.

Low Cost Attractions

• Teleférico cable car: €6.50 return for panoramic selfie heaven.
• Palacio de Cibeles viewpoint: €3 for glass-floor lookout.
• CaixaForum exhibitions: €6; vertical garden outside is free.

Food and Drinks on a Budget

• Morning fuel – Any bar with locals reading papers is cheap and good.
• Market lunches – Antón Martín stalls serve paella bowls for €4.
• Tapa tricks
  • Order a drink at El Tigre; you’ll get an entire plate of food free.
  • Head to Calle Ponzano for €1 pintxos during “Ponzaning” Thursdays.
• Supermarket dinners – Buy cold cuts, cheese, €2 wine; picnic on hostel roof.
• Cheap nightlife
  • Free entry before 1 a.m. at indie clubs in Malasaña.
  • Many bars include first mixer in €8 cover; stick to gin-tonic for value.

Experiences for Backpackers

• Free city walking tour – Daily 10 a.m.; tip the guide €5-€10.
• Tapas cooking class – Learn tortilla, croquetas; €25 with wine.
• Bernabéu cheap seats – €19 standing-area ticket bought morning of lesser games.
• Rowboat in Retiro – €8 per boat; four people split is €2 each.
• Language exchange – “Tandem” nights at J&J Books; buy one drink, stay all evening.
• Day trip to hiking in Cercedilla – €7.10 return train, free trails.
• Rooftop cinema at Círculo de Bellas Artes – €5 ticket, bring your own snack.

6 Hidden Gemz in Madrid (by Hostelgeeks)

How it works

Additional Tips & Final Thoughts

• Best Time – May and late September: hostel beds under €25, temperatures chill.
• Book Ahead – Popular dorms in Malasaña sell out; reserve at least 10 days in advance.
• Tourist Traps – Skip Plaza Mayor terraces; identical beer costs half two blocks away.
• Safety – Keep phone zipped; pickpockets love crowded Sol metro escalators.
• Cultural Respect – Dinner starts after 8 p.m.; entering restaurants earlier gets puzzled looks.
• Late-night eats – Post-club, grab bocadillo de calamares at El Brillante (open till 5 a.m.).
• Hostel vibe matching – Party person? Pick Sol or Huertas. Quiet worker? Head to Chamberí pods.

Armed with these budget numbers, neighborhood notes, and food hacks, you’re set to enjoy Madrid without burning through your travel fund.

Drop the heavy pack, grab a caña, and soak up those endless Spanish nights.

Backpacking Madrid? Here’s What You Need to Know

These are the guides I wish I had before visiting. I’ve been there, had fun, did some minor mistakes, and now I’m passing the best tips on to you. Safe travels!

Must-Read

I stayed in a Backpacker Hostel in Madrid

My experience and what you can expect

Where to stay in Madrid for First Time

My experience and what you can expect

Where to Stay in Madrid as a Solo Traveler

Best Areas and how to get around

Solo Travel Madrid

My experience and what you can expect

How to Pick a Hostel in Madrid

What to Expect (and what not!)

About the author: Matt Kiefer

Hey, I’m Matt, the founder behind Hostelgeeks.com. My team and I are collecting the absolute best hostels in the world for you. We share the coolest hostels so you can focus on your travels, rather than spending your time trying to pick a good hostel.

Personally, I’ve bunked in over 600 hostels and stamped my passport in more than 70 countries. My heart beats for Vietnam, Spain, and France, and so many more destinations. I’m a Foosball champ but a beer pong amateur.

Last but not least: Hostelgeeks is a proud ambassador of Hostelz.com.