Cost of Living Comparison Between Madrid and Canary Islands 

Indices DifferenceInfo
Consumer Prices in Canary Islands are 21.0% lower than in Madrid (without rent)
Consumer Prices Including Rent in Canary Islands are 10.5% lower than in Madrid
Rent Prices in Canary Islands are 10.7% higher than in Madrid
Restaurant Prices in Canary Islands are 23.5% lower than in Madrid
Groceries Prices in Canary Islands are 15.2% lower than in Madrid
Local Purchasing Power in Canary Islands is 5.2% higher than in Madrid
Currency: Sticky Currency      Switch to metric measurement units
Restaurants
Madrid Edit Canary Islands Edit Difference
Meal, Inexpensive Restaurant 12.25 € 10.00 €      -18.4 %
Meal for 2 People, Mid-range Restaurant, Three-course 50.00 € 40.00 €      -20.0 %
McMeal at McDonalds (or Equivalent Combo Meal) 8.00 € 5.03 €      -37.2 %
Domestic Beer (1 pint draught) 3.50 € 2.00 €      -42.9 %
Imported Beer (12 oz small bottle) 3.50 € 2.33 €      -33.6 %
Cappuccino (regular) 2.18 € 1.69 €      -22.2 %
Coke/Pepsi (12 oz small bottle) 2.42 € 1.39 €      -42.6 %
Water (12 oz small bottle) 1.72 € 0.95 €      -44.9 %
Markets
Madrid Edit Canary Islands Edit
Milk (regular), (1 gallon) 3.48 € 3.08 €      -11.3 %
Loaf of Fresh White Bread (1 lb) 1.05 € 0.91 €      -13.4 %
Rice (white), (1 lb) 0.58 € 0.46 €      -21.0 %
Eggs (regular) (12) 2.42 € 2.50 €      +3.1 %
Local Cheese (1 lb) 4.99 € 4.56 €      -8.6 %
Chicken Fillets (1 lb) 3.42 € 2.75 €      -19.5 %
Beef Round (1 lb) (or Equivalent Back Leg Red Meat) 5.69 € 4.34 €      -23.7 %
Apples (1 lb) 0.98 € 0.84 €      -14.4 %
Banana (1 lb) 0.87 € 0.69 €      -21.2 %
Oranges (1 lb) 0.81 € 0.76 €      -6.8 %
Tomato (1 lb) 0.90 € 0.70 €      -22.0 %
Potato (1 lb) 0.59 € 0.51 €      -13.6 %
Onion (1 lb) 0.63 € 0.52 €      -17.8 %
Lettuce (1 head) 1.03 € 1.04 €      +0.3 %
Water (1.5 liter bottle) 0.70 € 0.64 €      -7.7 %
Bottle of Wine (Mid-Range) 5.60 € 5.50 €      -1.9 %
Domestic Beer (0.5 liter bottle) 1.03 € 1.14 €      +10.5 %
Imported Beer (12 oz small bottle) 1.56 € 1.76 €      +12.6 %
Cigarettes 20 Pack (Marlboro) 5.10 € 3.80 €      -25.5 %
Transportation
Madrid Edit Canary Islands Edit
One-way Ticket (Local Transport) 1.50 € 1.73 €      +15.0 %
Monthly Pass (Regular Price) 54.55 € 27.50 €      -49.6 %
Taxi Start (Normal Tariff) 3.60 € 3.10 €      -13.9 %
Taxi 1 mile (Normal Tariff) 1.77 € 1.13 €      -36.4 %
Taxi 1hour Waiting (Normal Tariff) 22.00 € 15.00 €      -31.8 %
Gasoline (1 gallon) 7.02 € 5.67 €      -19.2 %
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) 25,188.50 € 16,400.00 €      -34.9 %
Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) 24,141.67 € 10,000.00 €      -58.6 %
Utilities (Monthly)
Madrid Edit Canary Islands Edit
Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment 169.43 € 66.64 €      -60.7 %
1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) 0.14 € 0.18 €      +27.9 %
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) 33.32 € 29.00 €      -13.0 %
Sports And Leisure
Madrid Edit Canary Islands Edit
Fitness Club, Monthly Fee for 1 Adult 41.64 € 45.00 €      +8.1 %
Tennis Court Rent (1 Hour on Weekend) 12.82 € 20.00 €      +56.0 %
Cinema, International Release, 1 Seat 9.00 € 7.00 €      -22.2 %
Childcare
Madrid Edit Canary Islands Edit
Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child 477.78 € 250.00 €      -47.7 %
International Primary School, Yearly for 1 Child 8,381.25 € 8,350.00 €      -0.4 %
Clothing And Shoes
Madrid Edit Canary Islands Edit
1 Pair of Jeans (Levis 501 Or Similar) 74.26 € 67.75 €      -8.8 %
1 Summer Dress in a Chain Store (Zara, H&M, ...) 33.97 € 23.57 €      -30.6 %
1 Pair of Nike Running Shoes (Mid-Range) 76.42 € 38.50 €      -49.6 %
1 Pair of Men Leather Business Shoes 92.59 € 30.00 €      -67.6 %
Rent Per Month
Madrid Edit Canary Islands Edit
Apartment (1 bedroom) in City Centre 1,034.15 € 1,000.00 €      -3.3 %
Apartment (1 bedroom) Outside of Centre 789.06 € 1,000.00 €      +26.7 %
Apartment (3 bedrooms) in City Centre 1,763.47 € 2,000.00 €      +13.4 %
Apartment (3 bedrooms) Outside of Centre 1,271.88 € 1,377.23 €      +8.3 %
Buy Apartment Price
Madrid Edit Canary Islands Edit
Price per Square Feet to Buy Apartment in City Centre 503.84 € 371.61 €      -26.2 %
Price per Square Feet to Buy Apartment Outside of Centre 335.68 € 185.80 €      -44.6 %
Salaries And Financing
Madrid Edit Canary Islands Edit
Average Monthly Net Salary (After Tax) 1,933.90 € 1,820.00 €      -5.9 %
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 2.49 3.00      +20.4 %
Last update: March 2023March 2023
Contributors in the past 12 months:3777