Buying a home in the Madrid region can be more affordable if you look beyond the capital and its most sought-after towns.
Rising property prices have put homeownership out of reach for many buyers, especially in Madrid itself. Finding a reasonably priced home often means looking beyond the metropolitan area. The region still has towns with lower prices, everyday services and a quieter pace of life. The most affordable of them is Chinchón.
The cheapest town to buy a home in the Madrid region
Chinchón is the cheapest town to buy a home in the Madrid region, with an average price of €1,231 per square meter, according to available data for October 2026.
The town lies in the Las Vegas district, in the southeast of the Community of Madrid, less than an hour from the capital. It has road links to other towns in the south and east of the region.
Chinchón is known for its historic buildings and traditional character. Its irregularly shaped Plaza Mayor is one of the region’s most recognizable squares. The town is also known for its anise liqueur, local cuisine and bullfighting festivities.
What to see in Chinchón
Chinchón is a popular day trip from Madrid, though its historic sites and surrounding countryside are worth exploring at a slower pace.
– Plaza Mayor — The town’s best-known landmark is framed by buildings of varying heights with wooden balconies. Its irregular layout makes it one of the most recognizable squares in the region.
– Church of Our Lady of the Assumption — Located next to the square, the church combines architectural elements from different periods. It houses The Assumption of the Virgin, a painting attributed to Francisco de Goya.
– Castle of the Counts — Originally built in the 15th century and later rebuilt, the castle stands on high ground overlooking the town. Visitors can view it from the outside.
– Clock Tower — Visible from several points around town, the tower is one of the surviving parts of the former Church of Our Lady of Grace.
– Chapel of San Antón — Part of the town’s religious heritage, the chapel is associated with the local festivities honoring Saint Anthony.
Living in Chinchón
Chinchón offers a quieter setting than Madrid, with local shops, restaurants and everyday services in the town center. The town also has schools, healthcare services and neighborhood businesses. Read more about living in Chinchón
Life revolves around the main square, local festivities and the surrounding countryside. The town’s lower population density and slower pace can appeal to people who work remotely or who don’t need to commute to Madrid every day.
Where can you find affordable housing near Madrid?
Looking farther from central Madrid can bring prices down while still giving you good transport connections. Fuenlabrada, Parla, Pinto, Valdemoro, Móstoles and Alcalá de Henares tend to offer more affordable housing than the city of Madrid.
Buyers on tighter budgets can widen their search to places such as Aranjuez, Humanes de Madrid, Ciempozuelos, Torrejón de la Calzada or Guadalajara. Guadalajara is outside the Community of Madrid but has rail connections to the capital.
