Madrid is one of Europe’s most vibrant capitals, with bars full of music, amazing food and life coursing through the streets. However, unlike other European cities, there is plenty of affordable accommodation everywhere! I absolutely loved my time in Madrid; it was so convenient to get around and we stayed in some of the most modern and quirky hostels. To help you experience Madrid like we did, we’ve put together a list of our personal recommendations on the best places to stay in Madrid for both hotels and hostels.

Best Budget Places to Stay in Madrid

Ok Hostel Madrid

The Hat Madrid

Quick Info
Room Type: Dorms

WI-FI: Yes

Near: Plaza Mayor

Price Range: $18-23 a night

I didn’t actually stay here myself but a woman I met on my travels could not stop raving about The Hat hostel. A very stylish and modern hostel (that is actually run on biomass!), The Hat is a perfect choice for every type of traveler. Only 150 yards from the main Plaza Mayor Square, this accommodation is right in the center of everything, including the incredible nightlife in the La Latina District! As well as location, the atmosphere in the hostel is also great. There’s a real social vibe while still having your own space if you want it. With a trendy rooftop bar offering city and sunset views, the hostel also boasts bright and spacious dorm rooms. (Prices start at $18 a night for a dorm bed)

To compare prices and reviews, check: Booking.com | Hostel World

Toc Hostel Madrid

Quick Info
Room Type: Dorms|Double|Triple|Quadruple|Family Rooms

WI-FI: Yes

Near: Puerta del Sol

Price Range: $15-150 a night

Also located in central Madrid, Toc Hostel is just around the corner from the popular Puerta del Sol Square. In fitting with its surroundings, the hostel itself is a very lively where you can play pool in the games room in the day and attend a themed party at the on-site bar in the night. As the hostel offers a variety of private rooms as well as dorms, you get the benefits of a hotel experience at a crazy affordable price! The hostel is very modern with light furniture and stylish décor, but it is the rooms that make this place unique! The bunk beds are almost embedded into the walls and half of the room is separated by a partition, so you get a lot more privacy and comfort. What’s even cooler is that your fingerprint is your room key- whaaat! (Prices start at $15 a night for a dorm bed)

To compare prices and reviews, check: Hotels Combined Booking.com | Hostel World

Ok Hostel Madrid

Quick Info
Room Type: Dorms|Standard|Deluxe|Double Rooms

WI-FI: Yes

Near: La Latina

Price Range: $17-80 a night

I was so impressed when we stayed at OK Hostel and I can safely say that this place is more than OK! Perfectly located by multiple metro stops, main plazas, and bars and restaurants, it was the perfect choice for us to sightsee and experience Madrid’s food and nightlife. I was actually a little disappointed that we didn’t get to spend more time in the hostel itself. The atmosphere was so social, with even the staff feeling like friends you met. There was a massive social area downstairs where you can eat breakfast, cook, have dinner, dinner and drink together. All organized activities such as free walking tours (a must do!) and bar crawls also start here. Like the rest of the hostel, the rooms are also modern and minimalist whilst being very comfortable. (Prices start at $17 a night for a dorm bed)

To compare prices and reviews, check: Hotels Combined Booking.com | Hostel World

Top Rated Hostels in Madrid | Hostelworld

Best Mid-Range Places to Stay in Madrid

Hostal Go Inn Madrid

Hostal Alexis Madrid

Quick Info
Room Type: Basic|Superior|Standard|Double Rooms|Suites

WI-FI: Yes

Near: Puerta del Sol

Price Range: $60-100 a night

In the heart of Madrid, you can easily find great places that will give you value for your money, but none will be as friendly as Hostal Alexis. The staff here are renowned for being incredibly amicable and helpful 24 hours a day. The receptionist especially is known for being very approachable, drawing you maps of the best sites and giving you the best local advice for places to eat. Who needs a tourist office when you stay here! Perfectly located near Plaza Santa Ana, you won’t have to venture far to find great cafes and restaurants with stunning outdoor terraces. You can then crash in the evenings in your comfortable and homey room after taking a much-needed rain shower. Bliss! (Prices start at $60 a night for a double room)

To compare prices and reviews, check: Hotels Combined Booking.com | Agoda

Hostal Go Inn Madrid

Quick Info
Room Type: Small|Standard|Double|Twin Rooms

WI-FI: Yes

Near: Gran Via

Price Range: $55-90 a night

If you want to stay in a place with some character that isn’t miles away in the middle of nowhere, then stay at the charming Hostal Go Inn! It has a very much country-meets-the-city feel with its quirky furnishings and warm feel, all while maintaining a modern vibe. Probably the best location in Madrid, the hotel is walking distance from Plaza del Sol, a range of shops, restaurants, and bars, and has a metro stop opposite to take you anywhere else (including the airport!). The spacious rooms follow the same pattern as the hotel with posh countryside decor and wooden flooring. My favorite part of this hotel is that breakfast is served in a quirky little Spanish café next door! How Spanish can you get? (Prices start at $55 a night for a twin room)

To compare prices and reviews, check: Hotels Combined Booking.com | Agoda

Clement Barajas

Quick Info
Room Type: Standard|Superior|Single|Double|Twin|Quadruple Rooms

WI-FI: Yes

Near: Parque de Juan Carlos I

Price Range: $70-120 a night

This hotel’s main attraction is for a convenient overnight stay close to the airport. However, Clement Barajas is an ideal and affordable choice for anyone who wishes to stay slightly outside of the city. Although not in central Madrid, the Barajas area is a lovely typical Spanish suburb full of interesting architecture. It also has a great little square full of local shops and restaurants. With free shuttles to the airport and a metro stop to get to the city, you can have the best of both worlds in Clement Barajas. The hotel is very fitting with the relaxed Spanish culture, full of calm neutral colors in the rooms and dark and warm furnishings in public areas. (Prices start at $70 a night for a single room)

To compare prices and reviews, check: Hotels Combined Booking.com | Agoda

Best Luxurious Places to Stay in Madrid

Francisco I

Maydrit

Quick Info
Room Type: Standard|Executive|Double|Twin|Triple|Quadruple Rooms|Suites

WI-FI: Yes

Near: Canillejas

Price Range: $100-320 a night

The newly renovated Maydrit hotel is a great modern and luxury option outside of the busy Madrid center. Located in the residential area of Barajas, you are just a short walk away from the stunning Juan Carlos I Park which is perfect to escape the midday heat. This area is also popular for incredible architecture and history. The hotel itself offers an à la carte restaurant serving international cuisine, a tapas bar, a gym, spa and outdoor pool. The contemporary rooms are spacious and extremely comfortable. Seriously, people who use this hotel as a layover regret not staying here longer. What makes this place even more perfect is the free 24-hour transfer service to Barajas Airport! This is so handy when you have really early or late flights. (Prices start at $100 a night for a double or twin room)

To compare prices and reviews, check: Hotels Combined Booking.com | Agoda

Francisco I

Quick Info
Room Type: Standard|Superior|Double|Twin Rooms|Suites

WI-FI: Yes

Near: Ópera

Price Range: $70-180 a night

Ideally located between Sol and Ópera, Francisco I is close to main sites such as the Royal Palace and Prado Museum, whilst also being close to metro stops to navigate to the rest of the city. It is so convenient to get around that Madrid is literally your oyster! This little piece of luxury in the heart of Madrid is immaculately kept, yet it still manages to maintain a warm and comfortable feel. The same goes for the big elegant rooms with their stylish décor and private balconies. Start off your mornings the right way with a delicious buffet breakfast in the country-style dining room! (Prices start at $70 a night for a double room)

To compare prices and reviews, check: Hotels Combined Booking.com | Agoda

Catalonia Atocha

Quick Info
Room Type: Standard|Superior|Double|Twin|Triple Rooms|Suites

WI-FI: Yes

Near: Museo Nacional Centro de Arte Reina Sofia

Price Range: $100-210 a night

Sometimes luxury accommodation is a little outside the center, but not Catalonia Atocha! This hotel is in the heart of Madrid on the main metro line as well as being close to the train station. If you have more time, it is definitely worth a day trip to Toledo, Sergovia or Avila! Spend your days sightseeing or working your way through the lively tapas bars in the La Latina district. If you need a chill day, the hotel has an amazing roof terrace complete with a bar, sun loungers, and giant hot tub. How perfect is this to watch the sun setting over Madrid? The hotel also offers traditional Spanish cuisine and incredibly elegant rooms with massive bathrooms. (Prices start at $100 a night for a standard double or twin room)

To compare prices and reviews, check: Hotels Combined Booking.com | Agoda

There you have it folks, the value in accommodation in Madrid is surprisingly good compared to other major cities in Europe! Hopefully, this list will help you find the perfect accommodation for you so you can explore your days away and get a good nights sleep. If you’re looking for places to stay all over Spain, check out our complete guide on where to stay in Spain which includes places such as where to stay in Barcelona and Seville.

Disclaimer: All photo credits and copyright belong to the establishments unless stated otherwise.


If you’re looking for things to do in Spain, check out some of our guides!

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