Cheap Hotels in Madrid Under €150 (Best Budget Hotels 2026)

Some of the 6 best cheap hotels in Madrid under €150 include;

• B&B Hotel Madrid Centro Plaza Mayor,
• Hotel Regina,
• Room Mate Oscar,
• 7 Islas Hotel,
• Hotel Liabeny, and
• Ibis Madrid Centro.

These hotels offer central locations, modern rooms, and excellent transport access at affordable prices.

Prices are subject to change. Please verify the latest prices while booking your stay.

Quick Answers

Is €150 enough for a hotel in Madrid? Yes. It covers a well reviewed hotel in Centro, Malasaña, or Sol without much trouble.

What’s the cheapest area to stay in? Lavapiés, followed closely by Malasaña and La Latina.

Are budget hotels in Madrid safe? Yes, the central districts covered here are well lit and busy at most hours.

How far should I stay from Sol? Within three or four metro stops is a good rule for staying central without paying peak prices.

Best Cheap Hotels in Madrid Under €150

1. B&B Hotel Centro Plaza Mayor

Sits right in the historic Centro district, steps from Plaza Mayor. Clean, modern rooms and free snacks make this the strongest all around pick for a first visit.

2. Hotel Regina

Near Sol and Gran Vía, with a strong breakfast and comfortable rooms. A solid choice for couples wanting central comfort without paying luxury prices.

3. Room Mate Oscar

In Chueca, close to Gran Vía, with a rooftop pool and colorful design. Best for younger travelers who want a social, lively stay.

4. 7 Islas Hotel

Tucked into Malasaña, Madrid’s trendiest neighborhood. Quiet side street, spacious rooms, and easy walks to vintage shops and cafés.

5. Hotel Liabeny

Steps from Sol station, with large rooms for the price. A dependable pick for first time visitors who want to walk everywhere.

6. Ibis Madrid Centro

Situated in Malasaña, offering the lowest price on this list. Clean, functional, and well connected by metro, without much extra character.

What €150 Buys You in Madrid

Madrid offers better value than most Western European capitals. A budget room here usually means a private bathroom, air conditioning, and a short walk to the metro.

Choosing an Area Instead

Some travelers prefer to pick a neighborhood first. If that’s you, a few areas stand out for value.

• Lavapiés holds the lowest prices in central Madrid, often €70 to €120. It has a diverse food scene and strong metro access.
• La Latina costs slightly more but adds traditional tapas bars and the Sunday El Rastro market.
• Malasaña sits between the two, trendy and walkable. Hotels like 7 Islas and Ibis Madrid Centro already cover it well.
• Argüelles offers a quieter, more residential option near Parque del Oeste, good for families or longer stays.

One Area to Think About Carefully

Staying far outside Madrid’s central districts can add thirty to forty five minutes of commute time each way. That trade off rarely pays off unless the price gap is large.

Hotels directly on busy nightlife streets are also worth a second look if you want quiet nights. Noise can carry late into the evening even with windows closed.

When Prices Drop

Madrid hotel prices move with the seasons more than the weather. Winter and late summer bring the best deals, while spring and early autumn push prices up sharply.