Madrid has a lot of inexpensive options for eating out, and food/drink prices are subsidized in public universities, so prices are even lower there.
Approximate estimates:
- 1.000 € – 1.400 € /month for a budget/student style living, room in shared apartment, home cooked meals and transportation
- 1.400 € -1.600 € / month for a bit more comfortable than student lifestyle, dining out a few times a month and some extra expenses
- Basic lunchtime menu 12-14 € in the city, but there are cheaper options
- Basic lunchtime menu at public universities 5-7 €
Students under the age of 26 can get “El Abono Joven 30 días” for 20 euro and unlimited travel within MADRID on buses, metro and commuter trains. You need to apply for this card in advance.