Best Budget Restaurants in Madrid

Tapas in Madrid | © Lori Zaino
Tapas in Madrid | © Lori Zaino
Photo of Lori Zaino
10 February 2017

Madrid is generally a very inexpensive place to dine. However, there are a few spots in the city known for having delicious cuisine for a very low price. Check out the list below if you’re hoping to eat out on a budget.

Entre Caceres y Badajoz

Restaurant, Tapas, Beer, Mediterranean, Spanish
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It doesn’t get more local than the crowded Entre Caceres y Badajoz tapas restaurant. It also can’t get much cheaper: every time you order a beer, you get a free tapa, and one with a substantial amount of food, like a small plate of potatoes and chorizo or paella. A few beers and a few euros later, you’ve eaten a full meal, all while standing shoulder to shoulder around giant barrels used as tables. This place is so cheap and so awesome that it’s packed almost every day of the week, so be ready to elbow the crowds if you want to eat here.

La Manduca

Bar, Restaurant, Spanish, Tapas
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Some Serrano ham at La Manduca
Some Serrano ham at La Manduca | © Jorge Ortega Villanueva

Another local gem, this spot has some of the best patatas bravas in the entire city of Madrid. Order some well-priced raciones, that is, larger plates made to share and enjoy them with friends. Try the ham or one of the giant baguettes of fresh bread topped with salmon, brie or caramelized onions. The no-frills, outdoor terrace is the place to be in the warmer months. The quality to price ratio just can’t be beat here.

Lateral

Restaurant, Spanish, Fusion, $$$
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Tortilla española
Tortilla española | © Victor Bayon/Flickr

Lateral has several locations in Madrid, and with good reason. Their wonderful variety of tostas and tapas are cheap and delicious, and the atmosphere is dark and sexy. Although they don’t take reservations, service is fast, so head in and have a drink by the bar while you wait for a table. The goat cheese with red pepper and sirloin with caramelized onions (both on slices of lightly toasted baguette) are worth the wait.

Dray Martina

Restaurant, Contemporary, Mediterranean, $$$
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For a hip and affordable dinner spot, Dray Martina offers Spanish fusion gourmet-style cuisine for a reasonable price. A bottle of wine and a three-course meal will run you under 25 euros per person, and the chic layout, with vintage wood tables and trendy décor are great for a first date or an evening out with friends. Make sure to order the eggplant with honey and hummus, or the special Canary Island-style quesadillas with Majorero cheese and special mojo verde sauce.

Tuk Tuk

Restaurant, Asian, Thai, Vietnamese
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Asian noodles can be a nice alternative if you just can't do any more Spanish cuisine
Asian noodles can be a nice alternative if you just can't do any more Spanish cuisine | © velkr0/Flickr

While Madrid isn’t a city known for its international food scene, if you need a change of pace from the typical Spanish fare, Tuk Tuk has affordable Asian cuisine. With filling and tasty Thai rice bowls and noodle plates for under 10 euros, eating out here can be a fun, budget, international food experience. Although it’s not a food truck, the whole restaurant gives off that funky Asian street food vibe.