The 6 Best Hostels in Madrid – Our Top Picks For Budget Accommodation

If you’re in search of the best hostels in Madrid, look no further. We’ve rounded up our top picks for budget-friendly accommodation in the Spanish capital, perfect for backpackers, solo travelers, and anyone in search of a good deal!

Wondering where to stay in Madrid? You certainly aren’t short on options. But among all the luxury hotels and controversial vacation rentals, there’s another kind of accommodation that you shouldn’t overlook. 

I’m talking about this city’s hostels: cheap and convenient options that provide all kinds of benefits. Offering group activities, delicious meals and an awesome atmosphere, one of these places might just be the perfect choice for your next trip to Madrid.

best hostels in Madrid
Hostels today are cooler and more convenient than ever. Photo by: molahostel.com

Our picks of the best budget hostels in Madrid

Whether you’re hoping to save a few euros or you just want to enjoy the hostel experience, you’ll find what you’re looking for here. Check out our picks for the top six best hostels in Madrid!

1. Sungate One

This place is legendary in Madrid’s hostel scene, and for good reason. Sungate One has been racking up awards and ten-star reviews ever since it opened, thanks to its welcoming atmosphere and endless perks. Unlike many budget hostels in Madrid, there are no bunk beds—so you won’t get stuck on the top bunk, guaranteed. Every day and night a different activity is offered, giving you plenty of opportunities to meet fellow travelers. The prices are slightly higher here, but you get what you pay for… if you can manage to snag a bed before they sell out.

2. Ok Hostel Madrid

When I first moved to Madrid, I stayed here: right in between La Latina and Tirso de Molina. As a result, my first impression of the city was overwhelmingly positive. I even ended up renting an apartment right down the street! Modern, clean and colorful, Ok Hostel is the kind of place you never want to leave. The nightly dinners are prepared by a professional chef, and cost just €10 for three courses and bottomless drinks. Best of all, the staff goes above and beyond to help you enjoy everything this city has to offer.

Ok Hostel Madrid - best hostels in Madrid
A gorgeous single room at OK Hostel. Photo by: okhostels.com

3. Hostel One Madrid

If you haven’t heard of the Hostel One brand, take note; it was named the world’s second-best hostel chain in the 2019 Hoscars. The same company behind Sungate One has just opened this second location with a more alternative vibe. Take advantage of Hostel One Madrid‘s free family dinners—yes, I said free—and the spacious terrace where you can relax in the sun. Located right in the middle of Malasaña, you’ll be perfectly positioned to explore the trendiest part of Madrid.

4. The Hat Madrid

It’s rare to find a hostel that’s also frequented by locals, but The Hat is proof that it exists. This is thanks to its charming rooftop bar, which is the perfect place to spend a balmy evening. The space itself is hip, stylish, and a step above your average hostel. There’s something here for everyone; you can choose from mixed dorms, female-only dorms, and private rooms. It’s also located right next to Plaza Mayor, making it the perfect home base to explore the historic center.

Rooftop at Hat Hostel Madrid - best hostels in Madrid
The beautiful rooftop terrace at The Hat. Photo by: MadridyYo on flickr CC

Once you’ve checked in, join a food tour in Madrid to get a true taste of Spanish culture!

5. 2060 The Newton Hostel

If you appreciate modern and minimalist style, you’ll love 2060 The Newton. This sleek spot in Lavapiés looks more like a luxury hotel than a hostel, with prices that won’t break the bank. It offers “a new accommodation concept” that includes a rooftop bar, spa, sauna and much more. With reasonably priced dorms and a whole host of activities offered, it’s quickly earning a reputation as one of the best hostels in Madrid. We especially love the quirky quotes and artwork you’ll find throughout the building!

6. Mola! Hostel

Set in the centrally located Plaza de Jacinto Benavente, this stately building offers elegant accommodation at affordable prices. Mola! Hostel is chic and cozy, with super comfortable beds where you can actually get some quality rest. The common area is located in the basement, helping to minimize noise on the upper levels. And like all the best hostels in Madrid, it’s perfectly clean and cool (read: air-conditioned) at all times—especially important if you’re visiting in the summer.

Mola hostel Madrid
The modern and comfortable Mola Hostel. Photo by: molahostel.com

Have you stayed at any hostels in Madrid? Did we forget to include your favorite? Let us know in the comments!

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