Renting a property for less than 800€ in the Community of Madrid is a challenge for those looking for cheap apartments near the capital. However, it is not impossible. Idealista’ s latest report on the evolution of rent in 2024 recorded four municipalities with houses priced below 11 euros per square meter.
The municipalities with the cheapest square meter
El Escorial
According to Idealista, El Escorial is the municipality with the cheapest square meter in Madrid: it is at 10.2€. It should be noted that most of the rental homes found in the town are large villas, with garden, garage and more than three bedrooms. A house of these characteristics, which exceeds 300m2, has a price ranging between 1,600 and 2,650 euros, the same as it could cost an apartment in a sought-after neighborhood of the capital.
The municipality is known for its beauty and history. It is home to the architectural complex of San Lorenzo de El Escorial: an unparalleled symbol of the wealth, religious devotion and culture of the Spanish monarchy, a World Heritage Site since 1985.
Paracuellos de Jarama
The second municipality on the list is Paracuellos de Jarama (10.5 perm2), a quiet municipality with 27,000 inhabitants located northeast of Madrid, very well connected to the capital by the M-50 highway and the A-2 highway. There , an apartment with more than 100 square meters is around €1,300 per month.
Aranjuez
Third on the list of places with the cheapest square meters in Madrid is Aranjuez (10.6 euros persquare meter), a city crossed by the Tagus River with a rich cultural heritage that includes historic dams, extensive gardens and an impressive Royal Palace.
In the last five years, Aranjuez has stood out for its affordable rental prices. Although prices in the municipality have risen this year, it still has the best offers in the Community. Among them , apartments of 50 square meters for less than 700 € per month (yes, what a large room in Argüelles is worth).
Pinto
The last town, in the south of the Community of Madrid, is one train stop away from Aranjuez. Pinto, at €10.8 per square meter, offers refurbished two-bedroom apartments for between €800 and €1,200 per month.