Cost of Living & Salary Comparison 2026
Yes, Madrid is 18% cheaper than Shanghai based on our cost of living index. Madrid has a COLI of 38.0, while Shanghai has a COLI of 46.2. 18% cheaper
Overall, Madrid is approximately 18% cheaper than Shanghai based on our cost of living index. Madrid has a COLI of 38.0 (ranked #69 of 182 cities), while Shanghai has a COLI of 46.2 (ranked #60).
When it comes to housing, one-bedroom apartment rent in Madrid averages $1,100/month compared to $1,100/month in Shanghai. That makes Shanghai approximately 0% cheaper for rent alone.
Madrid has lower total deductions (28.8%) compared to Shanghai (35.2%), meaning you keep more of your gross salary in Madrid. 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 ¥613,846 in Shanghai to maintain the same purchasing power. That is 18% 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 | Madrid (EUR) | Shanghai (CNY) |
|---|---|---|
| Doctor (General) | €57,996 | ¥559,827 |
| Software Engineer | €27,387 | ¥264,363 |
| Product Manager | €32,220 | ¥311,015 |
| Lawyer | €32,220 | ¥311,015 |
| Data Scientist | €30,609 | ¥295,464 |
| Marketing Manager | €23,198 | ¥223,931 |
| Teacher | €15,466 | ¥149,287 |
| Nurse | €18,688 | ¥180,389 |
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 |
|---|---|
| Jing'an | 1.30x (+30%) |
| Xuhui (French Concession) | 1.28x (+28%) |
| Lujiazui (Pudong) | 1.25x (+25%) |
| Xintiandi | 1.25x (+25%) |
| Huangpu (The Bund) | 1.22x (+22%) |
Sponsored
Save up to 6x on international transfers. Send money at the real exchange rate with no hidden fees.
Compare Transfer Fees →Use our converter with 3,400+ neighborhood adjustments for a precise salary comparison
Open Salary ConverterShanghai is more expensive overall. Madrid has a COLI of 38.0 while Shanghai has a COLI of 46.2, making Madrid approximately 18% cheaper.
To maintain the same standard of living as €63,592 in Madrid, you would need approximately ¥613,846 in Shanghai.
Average one-bedroom rent in Madrid is $1,100/month compared to $1,100/month in Shanghai. Shanghai has lower rent by approximately 0%.
Madrid has lower total deductions (28.8%) compared to Shanghai (35.2%), meaning you keep more of your gross salary in Madrid.
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.