Cost of Living & Salary Comparison 2026
Yes, Medellín is 46% cheaper than Madrid based on our cost of living index. Medellín has a COLI of 20.4, while Madrid has a COLI of 38.0. 46% cheaper
Overall, Medellín is approximately 46% cheaper than Madrid based on our cost of living index. Madrid has a COLI of 38.0 (ranked #69 of 182 cities), while Medellín has a COLI of 20.4 (ranked #109).
When it comes to housing, one-bedroom apartment rent in Madrid averages $1,100/month compared to $350/month in Medellín. That makes Medellín approximately 68% cheaper for rent alone.
Medellín has lower total deductions (13.2%) compared to Madrid (28.8%), meaning you keep more of your gross salary in Medellín. 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 €63,592 in Madrid, you would need approximately COP 167,358,909 in Medellín to maintain the same purchasing power. That is 46% less thanks to lower cost of living.
Estimated mid-level annual salaries in local currency, adjusted for each city's cost of living:
| Job Title | Madrid (EUR) | Medellín (COP) |
|---|---|---|
| Doctor (General) | €57,996 | COP 152,631,325 |
| Software Engineer | €27,387 | COP 72,075,904 |
| Product Manager | €32,220 | COP 84,795,181 |
| Lawyer | €32,220 | COP 84,795,181 |
| Data Scientist | €30,609 | COP 80,555,422 |
| Marketing Manager | €23,198 | COP 61,052,530 |
| Teacher | €15,466 | COP 40,701,687 |
| Nurse | €18,688 | COP 49,181,205 |
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 |
|---|---|
| Salamanca | 1.30x (+30%) |
| Chamberí | 1.18x (+18%) |
| Retiro | 1.15x (+15%) |
| Barrio de las Letras | 1.15x (+15%) |
| Chueca | 1.12x (+12%) |
| Neighborhood | Multiplier |
|---|---|
| El Poblado | 1.30x (+30%) |
| San Lucas | 1.18x (+18%) |
| Provenza | 1.15x (+15%) |
| Laureles | 1.12x (+12%) |
| Envigado | 1.08x (+8%) |
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Open Salary ConverterMadrid is more expensive overall. Madrid has a COLI of 38.0 while Medellín has a COLI of 20.4, making Medellín approximately 46% cheaper.
To maintain the same standard of living as €63,592 in Madrid, you would need approximately COP 167,358,909 in Medellín.
Average one-bedroom rent in Madrid is $1,100/month compared to $350/month in Medellín. Medellín has lower rent by approximately 68%.
Medellín has lower total deductions (13.2%) compared to Madrid (28.8%), meaning you keep more of your gross salary in Medellín.
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.