10 Cool and Affordable Restaurants in Madrid You Can’t Miss
Madrid, the heart of Spain, is not just famous for its royal palaces, vibrant nightlife, and world-class museums, but also for its dynamic gastronomy. From traditional tapas to modern twists on Spanish classics, Madrid offers an array of affordable dining options where flavor, history, and charm converge. This guide explores 10 affordable restaurants in Madrid’s historic neighborhoods, each with its unique story and offerings.
Madrid’s Culinary Legacy: A Quick Dive
Madrid’s cuisine reflects its cultural diversity, blending influences from across Spain. Its specialties, such as cocido madrileño (a hearty chickpea stew) and bocadillo de calamares (fried calamari sandwich), have gained iconic status. The city’s gastronomy is deeply tied to its neighborhoods—La Latina and Malasaña offer lively tapas bars, while Chueca is known for modern, international fare.
Madrid’s old town, with its cobbled streets and historic charm, provides a backdrop for many of the best culinary spots. The city’s culinary reputation has been bolstered by locals, critics, and even celebrities who’ve frequented these eateries.
- El Tigre
Location: Chueca
Why It’s Great: Known for its enormous portions of free tapas with drinks, El Tigre is a staple for budget-conscious travelers. Order a beer or sangria, and you’ll be treated to plates of jamón, patatas bravas, or tortilla española.
Who Recommends It: Popular among students, backpackers, and bloggers looking for value-for-money dining.
Specialty: The house sangria paired with patatas bravas.
For Whom: Perfect for those wanting a lively atmosphere and an authentic tapas experience without breaking the bank.
- Casa Paco
Location: Plaza Mayor
Why It’s Great: Operating since the 19th century, Casa Paco serves traditional Spanish dishes in a rustic setting. Their affordable prices and prime location make it a favorite.
Who Recommends It: Locals rave about its authentic cocido madrileño.
Specialty: Cocido madrileño, a must-try dish in Madrid.
For Whom: Ideal for history buffs and those looking to experience Madrid’s culinary heritage in its old town.
- Bodega de los Secretos
Location: Barrio de Las Letras
Why It’s Great: Set in a 17th-century wine cellar, this restaurant offers a cozy, romantic vibe at affordable prices. The ambiance is as much a draw as the food.
Who Recommends It: Featured in travel guides as one of Madrid’s hidden gems.
Specialty: Iberian pork with truffle sauce.
For Whom: Couples or anyone seeking a unique dining experience in a historic setting.
- Taberna Malaspina
Location: Sol
Why It’s Great: Known for its friendly service and generous portions, this taberna is a local favorite for traditional Spanish fare.
Who Recommends It: Highly rated on TripAdvisor for its warm atmosphere.
Specialty: Garlic prawns and fried eggplant with honey.
For Whom: Ideal for families or groups exploring the Sol area.
- Mercado de San Miguel
Location: Near Plaza Mayor
Why It’s Great: While technically a food market, it’s an affordable way to sample gourmet dishes. From oysters to croquetas, it’s a culinary playground.
Who Recommends It: Praised by food critics and loved by locals.
Specialty: Croquetas de jamón and freshly shucked oysters.
For Whom: Perfect for foodies wanting variety and high-quality bites.
- Bar La Campana
Location: Near Plaza Mayor
Why It’s Great: Famous for its bocadillo de calamares, this no-frills bar serves Madrid’s signature sandwich at unbeatable prices.
Who Recommends It: Frequently mentioned in budget travel blogs.
Specialty: Bocadillo de calamares (fried calamari sandwich).
For Whom: Great for budget-conscious travelers or those looking for a quick, authentic bite.
- Restaurante Botín
Location: Old Town
Why It’s Great: The world’s oldest restaurant (as certified by Guinness World Records) serves affordable dishes despite its fame. Dining here is stepping into history.
Who Recommends It: Endorsed by food historians and frequented by celebrities like Ernest Hemingway.
Specialty: Cochinillo asado (roast suckling pig).
For Whom: Food lovers and history enthusiasts.
- La Rollerie
Location: Gran Vía
Why It’s Great: This charming café offers budget-friendly meals in a stylish environment. Its breakfasts and brunches are particularly popular.
Who Recommends It: Instagrammers and those looking for picture-perfect spots.
Specialty: Avocado toast and café con leche.
For Whom: Ideal for casual diners and brunch lovers.
- El Brillante
Location: Atocha
Why It’s Great: Known for its hearty portions and authentic Madrid-style sandwiches.
Who Recommends It: Featured in local guides for its unpretentious atmosphere.
Specialty: Bocadillo de calamares.
For Whom: Perfect for travelers near Atocha Station needing a quick and satisfying meal.
- Ojalá
Location: Malasaña
Why It’s Great: With its indoor “beach” and funky vibes, Ojalá is an affordable and trendy spot offering a mix of Spanish and international dishes.
Who Recommends It: A favorite among locals and travelers looking for something quirky.
Specialty: Fresh smoothies and tapas.
For Whom: Great for young travelers and those exploring Madrid’s hip Malasaña district.
Interesting Facts About Madrid’s Old Town
Historical Backdrop: Madrid’s old town (El Madrid de los Austrias) boasts buildings from the Habsburg era, including Plaza Mayor and the Royal Palace.
Celebrity Tales: Ernest Hemingway was a frequent visitor to Sobrino de Botín, which he called the best restaurant in the world.
Hidden Tunnels: Legend has it that many old restaurants, like Bodega de los Secretos, were connected by secret tunnels used during times of war.
Madrid offers a feast for the senses, with its affordable restaurants reflecting its rich culinary history and contemporary flair. Whether you’re strolling through the historic old town or exploring trendy neighborhoods, there’s always a cool spot to satisfy your appetite without stretching your budget.