Madrid: Hostel or apartment differences?

Another question, what is the difference between hostales and apartments in Madrid? Is one better or cheaper than the other?
Thank you!

Hostels (called "hostales" in Spain/Spanish - and not to be confused with YOUTH Hostels which are called "albergues juveniles") are typically privately owned/operated budget hotels in Spain where you'd have your own private room, your own key, and in many cases your own in-room bathroom as well. Hostels are usually very very simply furnished with only the bed(s), a small table for a lamp, and maybe a small desk and chair.

Apartments are typically larger, often has a separated bedroom (unless it's a studio apartment), and always has a private bathroom. Apartments are usually furnished with all the things you'd need to live including a kitchen, possibly a stereo, maybe a television, a sofa, chairs, dining table.

Saludos, MadridMan