Quickest 2h 39min
There are 1 flight1 train company operating 3 routes - R-20, R-1, C-7, 4 buses from MAD to SLM. The cheapest train costs $31 and is 4h 14min.
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There are 4 ways to travel from MAD to SLM. 1 flight, 1 train, 4 buses and 1 by car are possible between the two areas. The by car from MAD to SLM is the cheapest. The by car from MAD to SLM is the fastest. The train operated by Renfe running from Madrid-Ramón y Cajal to San Morales is the most convenient.
It's important to check each mode when booking your ticket so that you can find the best method for you. The cost of each type varies differently, so be sure to use Faretrotter to keep an eye out!