As with the majority of cities you have the options of buses, trains and subways; here in this case el metro is the given name and all the above applies too.

El metro, Madrid’s fastest means of transport in the city and also one of the best in world. Hitting third place as the longest subway in Europe the 226.7 km runs through the city, connecting also with the suburbs of the city. Metro Sur is line number 12 which functions entirely outside the urban area is the main connection for the suburbs of Mostoles, Alcorcon, Getafe, Leganes and Fuenlabrada.

The metro runs between 06:00 and 02:00 daily, the time differs between each line but is usually only a 2 to 4 minute wait and approximately 15 minute wait after midnight.
A single ticket is only 1€ though the recommendation is if you will be using the metro regularly is to purchase the month ticket that covers, subway, bus and train for 39€ and can be purchased at any tobacco stand.
For more information visit http://www.metromadrid.es/

Buses run until 22:30 and start again at 06:00, a map of the bus route can be found at every bus stop and the price is also the same as the subway fare – easier way to keep a track of your money.
The night buses in Madrid will have the letter ‘N’ on them displayed, and have a different route to the day buses, that can also be found at each bus stop.
During the week they run every 30-45 minutes and throughout the weekend 10-15 minutes, the price does not differ to the day time public transport fare and here’s the perk, they run all night!

Want to explore the suburbs of Madrid?
The train Cercanias Renfe, is the railway network of Madrid it  runs from 04:00 until midnight. This method of transport is primarily used for commuters travelling in and out of Madrid from neighbouring suburbs.
To find out more visit http://www.renfe.es/cercanias/index.html

Be a tourist, hop onto Madrid Vision the double decker bus for tourists with 3 different routes and you can hop on and off whenever you feel like it. A ticket for tourists between 16 and 65 years costs 14.65 € for one day.
http://www.madridvision.es/en/index.php

Remember taxi’s are expensive and ensure you keep all belongings close to you!