Madrid is vibrant, and one of the most visited cities in the world. One of the biggest concerns when travelling to Madrid is to find affordable accommodation. If you are looking for an affordable place to stay in Madrid without sacrificing your comfort, then you are in luck.
Fortunately, as the city has so many visitors, there are a lot of hotels in the centre of Madrid to cater for this. There are plenty of budget hotels in Madrid that offer great value for money, and I have done all the research so you don’t have to.
Here is a list of handpicked budget hotels in Madrid, all centrally located and within walking distance to all of the main sites you would want to see in the city.
The Best Budget Hotels In Madrid – How To Find A Cheap Hotel In Madrid
Hotel Europa: This budget hotel is right in the heart of the historic centre of Madrid, a few minutes walk from the Royal Palace, Puerta del Sol and Plaza Mayor.
Some of the room windows actually open out onto Puerta del Sol. ALl of the rooms are modern, comfortable and come with free wi-fi and flat screen TV as a standard option. The hotel also has a restaurant and bar that serves traditional Spanish food.
Hotel Moderno: Only 150 metres away from Plaza Mayor and located in Puerta del Sol, for location this is one of the best budget hotels in Madrid. The rooms are modern, clean, spacious, and all come with Satellite TV, Wi-Fi, air conditioning, a safe, hairdryer and many other creature comforts.
Hotel Moderno Puerta del Sol also offers a buffet breakfast, room service and some of the rooms even have a hydromassage bath.
Radisson RED Madrid: Located in one of the most vibrant and hip areas of Madrid, Lavapies. This is where the famous Rastro market takes place every Sunday. The area is full of lively bars and you are still in the center close to all the points of interest.
You have the option to stay in a shared room or you can book your own personal room as well. The rooms are basic, but they are clean and tidy, and come with all the creature comforts like Air conditioning, Wi Fi, and hair dryers.
One really good thing about this hotel is the rooftop terrace and the amazing views of the city it offers. If you are watching your spending, this is a really good option for a budget hotel in Madrid.
Hotel Victoria 4: This hotel is in Puerta del Sol, the heart of the city. You can take a walk up any of the side roads in any direction, and there are bars, shops, restaurants, museums, and many more places to keep you occupied. It is just metres away from the Sol metro station.
You are still only a few minutes walk away from Puerta del Sol with all the main sights close by. The hotel dates back to 1850, and after being refurbished it has a really elegant interior. There is a large communal terrace with a bar and a traditional Spanish restaurant serving up some of the best examples of Spanish food throughout the day.
The hotel offers very modern & clean rooms and facilities throughout. All rooms come with a flat screen tv, Wi-Fi and air conditioning. The rooms are spacious and well decorated.
Woohoo Rooms Sol: Another budget hotel in Madrid located right in the middle in Puerta del Sol, giving you quick access to a lot of the city’s main attractions. They also have a number of locations around the city centre.
Close to Plaza de España and a 5 minute walk from Gran Via All of the major museums like the Reina Sofia, the Thyssen are within 1km of the hotel. You are also right in the middle of the shopping district, and the main square Plaza Mayor.
The rooms are very nice and well equipped. Air conditioning, a desk, kettle, minibar, safety deposit box, flat screen tv and much more are included in all of the rooms. If you get stuck for places to go, the concierge here is great at giving you some advice.
The Central House Madrid: The Central House is a really popular place for couples and singles in the Lavapies neighbourhood of Madrid. You have the option of both Private and Dormitory rooms here and the vibe here is amazing.
There is a continental buffet breakfast served each morning, they have an amazing terrace with deck chairs, and the hotel also organises evening entertainment for the guest at no extra cost. Points of interest nearby include Plaza Mayor, Puerta del Sol, Reina Sofia museum, El Rastro market and much more.
The rooms are all air conditioned with all the gadgets you would expect. Free wi-fi, private bathrooms, clean and tidy, everything you want from a Budget hotel in Madrid.
SLEEP’N Atocha: Just a stone’s throw away from the National centre of art, the Reina Sofia and close to Atocha train station. A great starting point for exploring Madrid.
The hotel has a really cool roof terrace where you can grab a drink, a library, a convenience store and lounging areas. The hotel even has its own small movie theatre which is quite the treat.
The rooms are very clean, well designed with minimalist in mind to make use of the maximum amount of space. The rooms have climate control free wi-fi, rain showers in the bathroom and all the necessities you expect from a good hotel.
Hostal Boutique: This hotel is located just off of Paseo del Prado, where most of the main art galleries of Madrid are situated. Puerta de Alcalá, el Prado, Caixa forum, Retiro Park are all within walking distance.
The rooms are very well kept, clean and very well put together. You have all the amenities you need and a lot of space to move around in. You also get a coffee machine, free wi-fi, and a flat screen tv. My favourite part though is the sound proofed walls, this really is a game changer.
If you want to be close to all of the museums, but not have to break the bank, then this is a great option for a budget hotel in Madrid.
Suites Viena Plaza De España: A hotel close to Plaza de España and all the local hot spots, offering you a great base to start all the exploring you will be doing in Madrid.
The Suites Vienna is a short walk from Gran via, the Royal Palace is just around the corner and you also have the beautiful Oeste Park a few minutes walk away. There is also a breakfast buffet and you can purchase your tour tickets directly from the front desk for the many popular activities in Madrid.
The rooms are basically decorated, but modern and clean. The beds are large, the rooms are spacious, and if you opt for it there are also rooms with their very own kitchenette. All the basic luxuries like wi-fi, hair dryers, toiletry etc are included with the room.
Hotel Regina: A beautiful hotel in a great location. Hotel Regina is just off of the Puerta del Sol square, just a 100m from Sevilla metro station. This should be high on your list of budget hotels in Madrid, Spain.
It is a great place to stay if you want to explore the sights around the centre of Madrid due to its proximity to everything. They also have a great restaurant serving up the best in Mediterranean dishes and a wine cellar with something for everyone’s pallet.
The Regina has elegant and modern rooms with air conditioning, satellite tv, a work desk if you need it and a private bathroom with complimentary toiletries. If you ask for it, you can also get a room with a view of the inner courtyard for some extra light.
Artrip Hotel: Another great budget hotel in Lavapies. Staying in one of the coolest areas of Madrid, you will see a mix of cultures here, loads of Indian restaurants, food markets and a host of entertainment to keep you busy.
The hotel is decorated with artworks throughout, and there is a small cafe on the ground floor. You probably won’t be spending too much time inside though. Within a 5 minute walk you have everything you could possibly need.
The rooms are all air conditioned, the decor is very light and welcoming, a flat screen tv, wi-fi and some of the rooms even have a balcony. Not to forget the soundproofed walls that make all the difference when you get in after a long day of walking.
Hotel Francisco I: This hotel’s location is right in the heart of the city, making it easy to walk to all of the sites you want to visit when in Madrid. It is in the middle of the Opera and Sol metro stations.
Francisco I is only 500 m away from the Royal Palace, Opera metro station is a 2 minute walk and you can get to the Paseo del Prado to see all the art galleries in less than 20 mins walking. The reception can also provide you with information about all the local sights that are very helpful.
The rooms are really nice, and each has their own décor making it feel more like a boutique hotel. The beds are very comfortable with a lot of pillows, daily housekeeping and all the modern amenities are included.
Hotel Puerta de Toledo: This one is right next to the historic Puerta de Toledo, close to the Lavapies neighborhood. A short walk away from all the great sights.
The hotel offers a daily breakfast buffet, and they have a really nice lounge bar where you can chill out and have a drink if it gets too hot outside. They also have family rooms so you can have a double or two singles and a bunk bed for the kids.
The rooms are pretty colorful, well decorated and have all the essentials. Free wi-fi, room service, hair dryer, power shower, toiletries etc.
Frequently Asked Questions
What is the average price for a budget hotel in Madrid?
The average price for a budget hotel in Madrid is around €50 to €70 per night, but prices can vary depending on the location, amenities, and time of year.
Which neighborhoods in Madrid have the best budget hotels?
Some of the best neighborhoods for budget hotels in Madrid include Malasaña, Lavapiés, and Chueca. All centrally located and there are many affordable options.
How can I book a budget hotel in Madrid?
There are many websites that allow you to book budget hotels in Madrid, the most well known being Booking.com and Hostelworld.
What amenities can I expect at a budget hotel in Madrid?
The amenities provided will depend on the hotel, but most budget hotels in Madrid amenities such as free Wi-Fi, air conditioning, and all the creature comforts you need away from home.
Are budget hotels in Madrid safe and clean?
Yes, all of the Hotels on our list have been reviewed and are in safe areas and the rooms and hotel are well kept and clean. You should still consider checking reviews for the hotels you are considering staying at.
How far are budget hotels in Madrid from the city center?
We have selected all of the budget hotels on the list based on their proximity to the center of the city. All of these hotels are within a short walking distance from Puerta del Sol, the heart of Madrid.
Is breakfast included in the price of a budget hotel in Madrid?
Many of the budget hotels in Madrid offer a breakfast included in the price of the room, generally in the form of a buffet. It’s best to check the conditions before booking your room to see if breakfast is included.
Are there any budget hotels in Madrid that offer shuttle service to the airport?
Yes, some budget hotels in Madrid offer shuttle service to the airport if you book in advance and for a fee.
Can I cancel my reservation at a budget hotel in Madrid without penalty?
The cancellation policy will vary depending on where you book your room, and always check this information prior to making a booking to avoid any disappointments.
Map of the Budget Hotels In Madrid
In Conclusion
Madrid is a beautiful city and offers a range of budget hotels for travelers wanting to save on accommodation costs. Whether a boutique hotel, a hostel or a guesthouse, there is something to suit all budgets and tastes. A budget hotel in Madrid does not mean it will be a bad hotel at all, all of the hotels on the list have been reviewed and are all of a high standard.
By choosing a budget hotel, you can stretch your budget and spend more on activities and experiences in Madrid. You will have much better memories of the things you got to see and do in Madrid than the time you spent in your room. But that doesn´t mean you should not be comfortable and all of the hotels we mentioned are all great options.
So no matter if you are travelling on a tight budget, or you just want to save yourself a few euros, Madrid’s budget hotels are a great option to have in mind. If you are wanting to find something cheaper still, you can check out our guide for finding the best hostels in Madrid.