Cost of Living: New York vs Spain (Madrid)
How expensive is Spain compared with New York City? The national price level of everyday spending versus the New York metro area, and the salary — in US dollars and EUR — that buys the same standard of living.
Salary converter
Before taxes. Income tax, sales tax and benefits differ a lot between places and aren’t included.
The numbers
- Cities
- Madrid
- Price level vs US average
- 68.7 (New York metro: 112.6)
- Exchange rate (2025 avg.)
- 1 USD = 0.885 EUR
- Purchasing-power parity
- 1 USD of US-average spending ≈ 0.608 EUR
- Source
- World Bank, PPP conversion factor for private consumption ÷ exchange rate (2025); New York: BEA 2024
⚠️ This is Spain’s national average. Major cities — especially Madrid — are usually more expensive, mostly because of rent, so treat this as a lower bound for big-city living.
Frequently asked questions
Is Spain cheaper than New York?
Yes. Spain is 39% cheaper than the New York metro area overall (index 61, New York = 100).
What salary in Spain equals $100,000 in New York?
About $61,021 a year (about €54,001 at purchasing-power parity) buys the same standard of living in Spain as $100,000 in the New York metro area, before taxes.
Is Madrid more expensive than Spain’s national average?
Usually, yes. The comparison here uses Spain’s national average price level; large cities such as Madrid typically cost more than the national figure, especially for rent.
Where does this data come from?
World Bank price levels of household consumption for 2025 (purchasing power parity conversion factor divided by the market exchange rate), compared with BEA’s 2024 figure for the New York metro area.