Lima, NY vs Madrid, NY

Lima, NY and Madrid, NY have a very similar cost of living, with only a 2.7% difference in their overall index. Lima scores 75 while Madrid scores 73 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Lima is $815/month compared to $850/month in Madrid — a 4% difference. Interestingly, home values tell a different story: while Lima has cheaper rent, Madrid actually has lower median home values ($136,700 vs $195,400).

Median household income in Lima is $85,469 compared to $88,500 in Madrid (-3.4%). Madrid offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Lima spend roughly 11.4% of their income on rent, less than the 11.5% in Madrid.

Climate-wise, Lima is notably warmer with an average of 49.5°F compared to 44.6°F in Madrid. Madrid receives more rainfall at 38.2" per year compared to 35.1" in Lima.