Things to Do in Madrid on a Budget

I’ve traveled to Spain several times over the years and stop in Madrid each time. While I prefer Barcelona and Valencia, the capital seems to make its way to everyone’s itinerary. If you are tight on time, I mayyyyy suggest skipping Madrid, or staying just a few days (read 48 hours). There are several things to enjoy here, however, so if you find yourself in the city, here are some of the best things to do in Madrid on a budget.

Things to Do in Madrid on a Budget

Madrid has plenty of budget-friendly attractions. Check out these top affordable stops on your next trip to Madrid.

Plaza Mayor

No trip is complete to Madrid without a visit to this historic square. I recommend a free walking tour of this area to learn a little of the city’s history and better appreciate the historic area’s significance.

Guruwalk is a great resource to see what’s available in the city.  Usually a reservation is required, though it’s free to cancel should your plans change.  While the tours are free, the guides do make a living from the tips, so usually €10-€20 per person is recommended depending on how well you enjoyed the tour.

Temple of Debod

This was one of the most intriguing spots in Madrid. It’s an ancient Egyptian temple. In Spain. It was gifted to Spain in 1968, after they helped construct the Aswan High Dam. While it was originally built in the 2nd century BC, the temple was dismantled, transported and reconstructed near the Royal Palace. The temple is free to enter and inside you will find hieroglyphics and Egyptian carvings. It’s one of the best spots to watch the sunset with awesome views over the city of Madrid.

El Retiro Park

This huge park is filled with greenery, lots of ducks and a large lake. It’s the perfect place to people watch, bring a picnic or just enjoy a relaxing stroll. We stopped at the Palacio de Cristal (Crystal Palace), which is a large glass greenhouse that now hosts art exhibits. It’s free to enter and provides a great backdrop for photos. You can also explore the Rose Garden (La Rosaleda) with more than 4,000 flowers in May. There are often free live music performances too, especially near the Monument to Alfonso XII, which is by the lake.

Museo del Prado

Madrid is known for its plethora of museums. From the Reina Sofia to the Sorolla Museum, there are lots of collections on display. If you only have time for one, start with the Museo del Prado, one of the world’s best art museums featuring works by Velazquez, Goya and Bosch. They offer free entry in the evenings but note that there is usually a long line. Free entry is 6-8 pm Monday to Saturday and 5-7 pm on Sunday nights and holidays.

Pro Tip: Arrive 30 minutes early to get in line. Be familiar with the exhibitions and prioritize what you want to see in advance as they begin clearing out the exhibits prior to closing. It’s important to note that free evenings only include the permanent collection. Any temporary exhibit usually requires a separate ticket.

Gran Via

This famous shopping street is lined with high-end fashion houses and small, local boutiques. Be sure to stop at Uniqlo, the fanciest clothing store I have ever seen. The historic building was formerly Cine Avenida and has maintained marble staircases, stained glass windows and chandeliers. It’s definitely worth heading to the fourth floor so you can take it all in!

Royal Palace of Madrid

The Royal Place is certainly a must-see in Madrid (and one of my favorite spots in the city). For us Americans we can visit for free only on October 12 (Spain’s national holiday) and May 18 (International Museum Day). If you are an EU resident or citizen, you can visit for free with proof of nationality or residency during the evenings with a self-guided tour of the palace. From October to March, visit the Royal Palace for free from 4-6 pm. In the other months (April to September), you can enjoy free evening visits from 5-7 pm. If you are visiting over the weekend (or don’t meet the nationality requirements), I recommend purchasing tickets in advance. Lines can be long, especially during peak seasons. You can book a guided tour of the Royal Palace here.

Almudena Cathedral

Located next to the Royal Palace, the Almudena Cathedral is one of the city’s most iconic landmarks. The main church combines neoclassical, neo-gothic and neo-Romanesque styles, but it’s the crypt below that is truly the gem. We explored the final resting place of Maria de las Mercedes, King Alfonso XII’s first wife. There are 20 chapels decorated with mosaics and stained glass. We loved wandering in the cool-aired crypt to see the long-ago buried but not forgotten. Entry is free, though a suggested donation of a few euros is encouraged. Check for mass times as the cathedral cannot be visited during services. You can access the rooftop terraced with panoramic views of Madrid with the museum entrance (€7). We skipped the museum (to stay budget-friendly) but heard the views were nice. Overall, it’s the crypt that makes this stop special.

Unique Experiences in Madrid

While these unique experiences require a little splurge, I want to mention them. By saving money on other activities and enjoying the museum (or even Royal Palace) during the free evenings, you can rest comfortably spending a little on something special to Madrid.

Flamenco Shows

We enjoyed a Spanish flamenco show one evening before dinner. There are dozens of different companies, but we booked this one, which included a little glass of wine with our performance.

Santiago Bernabeu Stadium

If you are a soccer (read: football in Europe) fan, then you must visit the home for Real Madrid. If you have lots of extra pennies, splurge on a match.

Churros

While not completely unique to Madrid, Chocolatería San Ginés is famous for their churros and thick chocolate. We were told by a local, “if you can stand your churro up in the cup of chocolate, then it’s thick enough.” Challenge accepted. We loved this local spot but recommend using the to-go side of the shop by Plaza Mayor, which is open 24/7.

For other yummy restaurants and eats in Madrid, be sure to check out our post on the best foods to eat in Madrid.

BONUS: The Curious Neighbor Rubdown

El Vecino Curioso is a famous bronze statue in Madrid near the Almudena Cathedral. While exploring the historic center, be sure to stop here to rub his booty (you’ll quickly notice the polished posterior)! Legend says that a good rub (and picture) brings good luck. The man is leaning over a railing, peering down over the remains of an old church, which is largely ignored by the countless visitors. So, stop at Calle de la Almudena and look below at the old Iglesia de Santa Maria de la Almudena. And then wash your hands. 😊  

Getting Around Madrid on a Budget

Madrid offers a 10-trip metro card that is cheaper than buying individual tickets and is good for both the metro and bus. They also have affordable bike rental options. Most of the tourist attractions in the city are within walking distance.

Madrid has a little bit of everything from art, history and unique experiences. While you can pack all these budget-friendly activities into two days, I’d encourage you to leave time to soak up the city’s lively atmosphere and late-night vibes.

If you are heading on to Barcelona, check out our posts on the city. Also, is Valencia worth a visit? Buen viaje!

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