Hi! Well, I'm Spanish and I've been living in US for two years, now I live in Extremadura, a region in the southwest of Spain. Madrid is a very expensive city, at least for an "extremenian" like me :). joking apart I guess that it's cheaper than US cities, as you probably know Spain is one of the richest countries of the world BUT NOT THE MOST. So costs of living are pretty lower than US. I can give you some data about living in Madrid : - If you want to live in the center you have to know that is very very expensive. Rents can vary from 1.500 € monthly to 5.000 € monthly. - If you want live in the outskirts but near to the center rents are more affordable and you can find apartments from 600 € to 1.500 €. - But if you want to live in a quieter place like Mostoles, Getafe, Fuenlabrada etc. which are nearby cities of Madrid you can get an apartment for 500 or 600 € monthly. - "El metro" (subway) is cheap (from my point of view). You can go wherever you want in the city in less than 30 minutes (depending on the place you want to go to) for only 1 €. And of course you can get a "bono" (I don't know how to say that word in English) which is a sort of ticket that allows you to use the subway 10 times with a lower price than if you buy each ticket individually. - The best of Madrid is the night life, you can find a lot of bars, discos and pubs where you can enjoy a good atmostphere and very good music. A "cubata" (spirits) can cost 5 € (very expensive) and a soft drink 2 €. - People are pretty kind and altruistic. I always say "Madrid is the nicest city of Spain" and it's true. By the way, 1 € = $ 1,27 greetings from Spain!