Cost of Living & Salary Comparison 2026
Yes, Hanoi is 37% cheaper than Madrid based on our cost of living index. Hanoi has a COLI of 24.1, while Madrid has a COLI of 38.0. 37% cheaper
Overall, Hanoi is approximately 37% cheaper than Madrid based on our cost of living index. Hanoi has a COLI of 24.1 (ranked #100 of 182 cities), while Madrid has a COLI of 38.0 (ranked #69).
When it comes to housing, one-bedroom apartment rent in Hanoi averages $450/month compared to $1,100/month in Madrid. That makes Hanoi approximately 59% cheaper for rent alone.
Hanoi has lower total deductions (26.9%) compared to Madrid (28.8%), meaning you keep more of your gross salary in Hanoi. When evaluating a relocation, remember that total deductions directly impact your take-home pay and should be weighed alongside cost of living differences.
Full breakdown of mandatory payroll deductions for a mid-range salary as a local employee in each city.
Rates shown for local employees. Expat deductions may differ — use the main converter for personalized calculations.
If you earn ₫1,875,000,000 in Hanoi, you would need approximately €100,269 in Madrid to maintain the same purchasing power. That is 37% more due to higher cost of living.
Estimated mid-level annual salaries in local currency, adjusted for each city's cost of living:
| Job Title | Hanoi (VND) | Madrid (EUR) |
|---|---|---|
| Doctor (General) | ₫1,084,500,000 | €57,996 |
| Software Engineer | ₫512,125,000 | €27,387 |
| Product Manager | ₫602,500,000 | €32,220 |
| Lawyer | ₫602,500,000 | €32,220 |
| Data Scientist | ₫572,375,000 | €30,609 |
| Marketing Manager | ₫433,800,000 | €23,198 |
| Teacher | ₫289,200,000 | €15,466 |
| Nurse | ₫349,450,000 | €18,688 |
Salary estimates are adjusted by each city's COLI relative to the New York baseline. Actual salaries vary by company, experience, and industry.
| Neighborhood | Multiplier |
|---|---|
| Hoan Kiem (Old Quarter) | 1.25x (+25%) |
| Tay Ho (West Lake) | 1.22x (+22%) |
| Ba Dinh | 1.18x (+18%) |
| Tay Ho Tay | 1.15x (+15%) |
| Hai Ba Trung | 1.08x (+8%) |
| Neighborhood | Multiplier |
|---|---|
| Salamanca | 1.30x (+30%) |
| Chamberí | 1.18x (+18%) |
| Retiro | 1.15x (+15%) |
| Barrio de las Letras | 1.15x (+15%) |
| Chueca | 1.12x (+12%) |
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Open Salary ConverterMadrid is more expensive overall. Hanoi has a COLI of 24.1 while Madrid has a COLI of 38.0, making Hanoi approximately 37% cheaper.
To maintain the same standard of living as ₫1,875,000,000 in Hanoi, you would need approximately €100,269 in Madrid.
Average one-bedroom rent in Hanoi is $450/month compared to $1,100/month in Madrid. Hanoi has lower rent by approximately 59%.
Hanoi has lower total deductions (26.9%) compared to Madrid (28.8%), meaning you keep more of your gross salary in Hanoi.
Cost of living indices (COLI) are benchmarked to New York City = 100 and derived from Numbeo and Expatistan crowd-sourced price surveys, cross-referenced with national statistics agencies. Rent data from Numbeo Property Prices.
Salary ranges are compiled from the U.S. Bureau of Labor Statistics (OES), Glassdoor, and PayScale. Tax rates are approximate effective rates for mid-range earners based on OECD Taxing Wages and national tax authorities. Exchange rates from the European Central Bank. Neighborhood multipliers are estimated from local rental indices and property data.
Last updated: 2026-02-28. Data is refreshed periodically. All figures are estimates for informational purposes only.