Valencia has one of the liveliest party scenes in Spain.
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Spanish night clubs do not practice any strict dress code. Security guards pay attention only to people, who are too tipsy or are younger than 18. Such persons are not permitted to enter.
Summary of cost of living in Valencia, Spain: A family of four estimated monthly costs are 2,466.2$ (2,332.0€) without rent. A single person estimated monthly costs are 695.6$ (657.8€) without rent. Valencia is 53.1% less expensive than New York (without rent).
Madrid. Madrid comes alive at night, and especially at the weekend. You'll find nightlife in the various leisure areas and districts with an endless array of clubs, bars, cafés and fashionable venues to choose from. Its lively nightlife is famous worldwide.
Valencia is generally quite an affordable to visit. It's much cheaper than Madrid or Barcelona. However, food, drinks, and tours can really add up if you aren't watching your spending.
Valencia is famous for its celebratory spirit, especially in March. Every year the city comes alive with Las Fallas – a traditional celebration which consists of burning massive cartoonish statues throughout the city and involves a days-long party to commemorate the onset of spring.
Like anywhere, it all depends where you go. Tourist bars in the city center will always cost you much more (2-2.5€ for a small beer) and in the disco bars/clubs/trendy bars a lot more (usually 5-7€ for a bottle). If you want cheap just find a smaller local cerveceria where a bottle or glass on tap is about 1.30/1.50€.
The city is one of the historical capitals of Spain. So there are many historical places to visit. Also, they are so affordable that makes the city one of the best cheap places to live in Spain. Third, Valencia is one of the cities with all-year-long activities.
Russafa (or 'Ruzafa,' as some people prefer to call it), is Valencia's biggest and best nightlife hub. Just south of Ciutat Vella, it's a pretty small area, but there's plenty of frantic fun crammed into its diminutive confines.