Furnished monthly rentals in Madrid range from studios to multi-bedroom flats, with median advertised monthly rents varying from 625 € for a room in a shared flat to 2,780 € for flats with two or more bedrooms, and availability ranging from 81 studios to 375 rooms in shared flats (Flexsirent observatory, October 2026). A mid-term rental for stays of 1 to 11 months is signed as a temporada contract, which is a lease for a use other than permanent housing that states the temporary cause, such as work or studies [Ley 29/1994, de Arrendamientos Urbanos (LAU), artículo 3]. This type of contract requires a deposit (fianza) of 2 months' rent, which is a different amount than the 1 month's rent required for permanent home leases [Ley 29/1994 (LAU), artículo 36].

Monthly Rental Prices in Madrid by Home Type

Rental prices and availability shift over time based on data from the Flexsirent observatory (October 2026).

Studio

The median advertised monthly rent for a studio is 1,250 €, with half of the 81 listings falling between 950 € and 1,665 € (Flexsirent observatory, October 2026). In 59% of these listings, bills are included in the price.

One-Bedroom Flat

For a one-bedroom flat, the median advertised monthly rent is 1,900 €, with half of the 119 listings priced between 1,470 € and 2,370 € (Flexsirent observatory, October 2026). Bills are included in 69% of these properties.

Two-Bedroom or Larger Flat

Flats with two bedrooms or more have a median advertised monthly rent of 2,780 €, with half of the 138 listings ranging from 2,208 € to 3,589 € (Flexsirent observatory, October 2026). These homes have the highest rate of inclusive bills at 77%.

Room in a Shared Flat

The median advertised monthly rent for a room in a shared flat is 625 €, with half of the 375 listings falling between 538 € and 735 € (Flexsirent observatory, October 2026). Bills are included in 43% of these listings.

A monthly rental in Madrid is signed as a temporada contract, which is a lease for a use other than permanent housing [Ley 29/1994, de Arrendamientos Urbanos (LAU), artículo 3]. This contract must explicitly state the temporary cause for the stay, such as work or studies. Regarding the deposit, a temporada contract requires a payment of 2 months' rent [Ley 29/1994 (LAU), artículo 36]. This is a larger amount than the 1 month's rent required for a permanent home lease.

Registration: Empadronamiento and the Foreigner Registry

Anyone living in Spain must complete the empadronamiento, which is the registration at the town hall (ayuntamiento) of the municipality where they reside [Ley 7/1985, Reguladora de las Bases del Régimen Local, artículos 15 y 16]. The rental contract is used to complete this process, which is necessary to obtain a public health card and perform various official procedures. EU citizens who stay in Spain for more than 3 months must also register at the Registro Central de Extranjeros to obtain a registration certificate [Real Decreto 240/2007, artículo 7]. Non-EU citizens require the NIE (Número de Identidad de Extranjero), an identification number needed to pay taxes, work, and handle most official paperwork [Real Decreto 557/2011 (Reglamento de Extranjería), artículo 206]. While a rental contract can be signed using a passport, the NIE is often requested by banks and landlords and can be applied for at a Spanish consulate abroad or a foreigners' office or police station in Spain.

Visas and Payment Rules for International Renters

Non-EU citizens must obtain a visa based on their reason for stay, such as non-lucrative residence, studies, work, or remote work [Ley Orgánica 4/2000 y, para el teletrabajo internacional, Ley 28/2022]. The digital nomad visa is available to non-EU citizens working remotely for companies outside Spain, though self-employed professionals may work for a Spanish company if that work does not exceed 20% of their total activity. To qualify, applicants need a university degree, business-school degree, vocational training, or at least 3 years of professional experience, along with proof of a professional relationship of at least 3 months with a company outside Spain that has been active for at least 1 year, and documents showing the work can be done remotely. Additional requirements include a clean criminal record in Spain and countries of residence for the last 2 years, sufficient economic resources, and health insurance from an insurer authorized in Spain. This visa lasts up to 1 year, after which a residence permit for international remote work can be requested for up to 3 years, with renewals possible for 2-year periods [Ley 14/2013, artículos 62.3 y 74 bis a 74 quinquies (añadidos por la Ley 28/2022)].

Regarding payments, cash payments of 1,000 € or more are restricted when one party is a professional or business [Ley 11/2021, artículo decimoctavo, que modifica el artículo 7 de la Ley 7/2012]. The cash limit is 10,000 € only if the payer is a person whose tax domicile is not in Spain and who is not acting as a business or professional. For those using SEPA transfers, a provider cannot specify which EU Member State the account must be in, as long as the account is reachable [Reglamento (UE) 260/2012, artículo 9.2]. Furthermore, bank charges for cross-border payments in euros must be the same as those for an equivalent national payment [Reglamento (UE) 2021/1230, artículo 3.1].

Frequently asked questions

What is the deposit for a monthly rental in Madrid?

The legal deposit for a temporada contract is 2 months' rent [Ley 29/1994 (LAU), artículo 36].

Do I need to register at the town hall to rent a flat by the month?

Yes, everyone who lives in Spain must complete the empadronamiento, which is the registration at the town hall [Ley 7/1985, Reguladora de las Bases del Régimen Local, artículos 15 y 16].

What is the digital nomad visa and who can apply?

It is a visa for non-EU citizens who work remotely for companies outside Spain, provided they meet specific education, experience, and financial requirements [Ley 14/2013, artículos 62.3 y 74 bis a 74 quinquies (añadidos por la Ley 28/2022)].

Can I pay my rent in cash?

Cash payments are restricted to under 1,000 € when one party is a business or professional [Ley 11/2021, artículo decimoctavo, que modifica el artículo 7 de la Ley 7/2012].