My friend lives in Madrid. She has a tiny one-bedroom apt. in Moncloa (near the university) and pays 75,000 ptas/month, nothing included. I think she was making approx. 250,000-300,000 per month, but I'm not sure. It's cheap for a capital city, but expensive by Spanish standards (my 3-bedroom furnished apt. in Burgos was 75,000 incl. heat and hot water.)