Madrid! Low Cost Options for Budget Travelers

We know people like Top 5 lists. And we occasionally see people asking what to do in Madrid on a budget. So, here’s a set of curated Top 5 lists that are low-budget and loved by many. We'll look at five in each of several categories: outdoor must-sees, cafés with a local vibe, local eats under €10, and cultural spots.

🏞️ Top 5 Outdoor Must-Sees (Free or Low-Cost)

1. Parque del Retiro – Iconic but spacious enough to feel local. Not only does it feel local, but Madrileños frequent the park because, whether you want to check out a free art exhibit in the Palacio de Velázquez, go for a jog in the shade, wander through manicured gardens, play in a playground, or admire a babbling fountain, this park has enough to keep you busy all day. You can even rent a rowboat for just €6 (€8 on Saturday, Sunday, and Holidays). Maximum of 4 people per boat for 45 minutes. Anyone under 14 must be accompanied by an adult.

2. Templo de Debod – On recent trips to Madrid, we’ve made a point to catch sunset at the Templo de Debod, an ancient Egyptian temple gifted to Spain and rebuilt in Parque del Oeste. Arrive about 30 minutes early, bring a light blanket, and enjoy a snack under the shade trees. The temple once stood near the Nile but was relocated to avoid flood damage. From Plaza de España, head northwest to reach this peaceful, scenic spot.

3. Madrid Río Park – A long green corridor with skate parks, fountains, and shaded paths. Great for walking or biking. This is a vibrant urban park along the Manzanares River, perfect for walking, biking, and cooling off in summer. Families flock to the “playa” water park, with fountains and splash zones ideal for hot days. The striking Arganzuela bridge, a modern architectural icon, connects green spaces with style. Nearby, the Matadero Madrid, a former slaughterhouse turned cultural center, hosts exhibitions, performances, and markets—making Madrid Río a dynamic blend of recreation, design, and creativity.

4. El Rastro (Sundays and holidays only) – El Rastro is Madrid’s iconic open-air flea market, held every Sunday and public holiday from 9 a.m. to 3 p.m. in the La Latina neighborhood, centered around Calle de la Ribera de Curtidores. With roots dating back hundreds of years, it’s a lively maze of antiques, vintage goods, art, and street food—perfect for browsing and people-watching. This is one place where you absolutely need to be vigilant about your belongings. Note, recently there's also Los Sábados del Rastro, which is a revival of a 1970s–80s tradition. Held on the first Saturday of each month, it showcases antiques, art, and fashion in Plaza Vara del Rey.

5. Lavapiés Street Art Walk – Take a self-guided street art tour through Lavapiés, one of Madrid’s most vibrant and multicultural neighborhoods. Start near Calle de Embajadores and wind your way past bold murals, political graffiti, and community-driven installations tucked into alleyways and plazas. Highlights include works from the CALLE Lavapiés festival, where local businesses host rotating art each spring. It’s free, ever-changing, and full of character—perfect for photographers, urban explorers, or anyone seeking Madrid’s creative pulse beyond the museums.

6. La Cuesta de Moyano, Féria del Libro – This is a permanent, year-round Book Fair, near the Atocha train station and the Botanical Gardens on a street named Cuesta de Moyano. This is honestly one of our favorite things to do in Madrid. If you like to browse stalls of books, you'll be in your element! Mornings from 9:30 to 1:30 and afternoons from 4:30 to 7:00. [In case you won't be in Madrid on a Sunday or holiday for the Rastro, we threw in a sixth option.]

☕ Top 5 Budget-Friendly Cafés with Local Vibe

1. Cafelito – Cozy, vintage, and tucked away on Calle del Sombrerete in Lavapiés. Great coffee and chill ambiance. Try the pan con tomate, toasted bread, rubbed with garlic, slathered with grated, fresh tomato and a drizzle of EVOO. Trust us!

2. Toma Café – Hip but not pretentious. Known for excellent espresso and pastries. They have a few locations. The one we've been to is Olavide. But it's a little bit away from the tourist center. You can find images and videos of their three locations by searching on Google Maps.

3. La Bicicleta Café – Bike-themed hangout in Malasaña. Good for teens, with board games and funky decor. Our mouth starts to water just looking at their menu. Malasaña is a great place to hang out and explore at almost any time of day.

4. Federal Café – Near Plaza Mayor, with outdoor seating and affordable brunch options. We've had this on our agenda the last few times we visited Madrid but slept in each time and didn't make it. It get's great reviews, it's in a great location, and the menu has something for everyone.

5. Almalibre Açaí House – Their name means free spirit and they serve up healthy, colorful bowls and smoothies. They have other options if that's not your vibe. Teen-approved and wallet-friendly.

🍽️ Top 5 Local Eats Under €10

1. Cien Montaditos – Mini sandwiches for €1–2 each. Fun to mix and match. This is a chain all over Spain. It's popular among locals and tourists alike. The first time we went to a Cien Montaditos was on a trip to Santander in Cantabria, Spain in 2014. We were visiting a Spanish friend and he took us there for montaditos (the mini sandwiches) and a few beers. Since then we've gone to one in Madrid and we've been in Sevilla and even Lisbon!

2. El Tigre – Buy a drink, get a mountain of free tapas. Loud, local, and legendary. There are two in Madrid. We've been to the one on Calle de Hortaleza in the Chueca neighborhood. Depending on the time of day it might be packed with a younger crowd. You won't leave this place hungry!

3. El Brillante – Right across from the Atocha train station, this place has been around for a long time and serves up some of the most typical Spanish fare at very reasonable prices. Try the fried squid sandwich (bocadillo de calamares), the tortilla de patata, or one of their many other offerings. You won't be disappointed. You can even go there for churros and chocolate for breakfast or an afternoon treat. Note: this place is very near La Cuesta de Moyano, featured in the first section of this article. You can browse the book stalls and then get an inexpensive, tasty bite to eat here.

4. Bar Santurce (El Rastro area) – Sardines grilled to perfection. No-frills, all flavor. Pony up to the bar and order a mug of beer (una jarra de cerveza) and a sharable plate of grilled sardines (ración de sardinas a la plancha) and enjoy them while you watch them grilling more!

5. La Campana (on Calle de Botoneras near Plaza Mayor) – Famous for their fried squid sandwich (bocadillo de calamares). Inexpensive and satisfying! There might be a line of people waiting to get in because this place is recommended a lot on social media. There are other places for a sandwich like this near the Plaza Mayor that are also quite good. If you need a bocadillo de calamares fix and don't want to wait, you might also try Postas Cervecería on Calle de Postas.

🎨 Top 5 Free Cultural Spots (No Tourist Crowds)

1. Museo de Historia de Madrid – Fascinating and free. Located in a stunning Baroque building in Malasaña, the Museo de Historia de Madrid traces the city’s evolution from the 16th century to the present. Entry is free, and highlights include historical maps, paintings, and a detailed scale model of 1830s Madrid. The museum’s ornate façade alone is worth a visit, and its quiet galleries offer a rich, uncrowded experience for anyone curious about the capital’s urban and cultural development.

2. Casa de Lope de Vega – Literary gem with free guided tours (book ahead). Hidden on Calle Cervantes in the Literary Quarter, the Casa de Lope de Vega offers a rare glimpse into the life of Spain’s most prolific playwright. Free guided tours (book ahead) take you through preserved rooms, manuscripts, and period furnishings. It’s an intimate, atmospheric stop that connects visitors to the literary heart of 17th-century Madrid, far from the tourist trail. A must for lovers of Spanish literature and quiet cultural immersion.

3. Ermita de San Antonio de la Florida – This serene chapel near the Manzanares River houses Goya’s breathtaking frescoes, painted directly onto its dome and walls. Unlike museum canvases, these works remain in their original setting, offering a rare chance to see Goya’s artistry in situ. The chapel also serves as the painter’s final resting place. Entry is free, and the peaceful ambiance makes it ideal for reflection, art appreciation, and escaping the bustle of central Madrid.

4. Museo Arte Público – Tucked beneath an overpass at Calle de Juan Bravo and Paseo de la Castellana, the Museo Arte Público is an open-air sculpture park showcasing Spanish modern art. Works by artists like Chillida, Miró, and Sempere are displayed in a surprising urban setting, blending infrastructure with creativity. It’s free, uncrowded, and perfect for a contemplative stroll or spontaneous art encounter. A refreshing alternative to traditional museums, especially for fans of abstract and kinetic sculpture.

5. Museo Geominero – Located inside the Instituto Geológico y Minero de España, the Museo Geominero is one of Madrid’s most overlooked treasures. Its grand 1920s interior houses dazzling mineral specimens, fossils, and geological maps from across Spain and its former colonies. Entry is free, and the museum’s quiet atmosphere and vintage charm make it ideal for slow exploration. It’s a surprising favorite for families, science lovers, and anyone seeking a break from the usual cultural circuit.

Whether you're planning a weekend getaway or a longer stay, Madrid offers countless ways to explore on a budget without sacrificing depth, flavor, or authenticity. These curated Top 5 lists highlight the city’s best low-cost experiences—from leafy parks and vibrant street art to cozy cafés and cultural gems tucked away from the crowds. Madrid rewards curiosity, and with just a few euros and a good pair of walking shoes, you’ll uncover stories, flavors, and views that stay with you long after you’ve left.

Which of these spots would you add to your own Madrid itinerary—or have you already discovered a hidden gem we missed? Let us know in the comments!