Spaniards Spend Half Of Their Income To Pay A Rent

Spaniards Spend Half Of Their Income To Pay A Rent

The average rental price in Spain in 2020 stood at 980 euros per month, which represents 51.5% of the gross monthly income of tenants , according to the analysis carried out by the real estate portal flats.com, published this Monday.

That 51.5% represented a rise of almost two percentage points over the previous year, when the average rents stood at 966 euros and the average gross salary was somewhat higher, at 1,954 euros per month.

Madrid, Catalonia and the Balearic Islands, above average
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Although in 2020 the average cost of rent stood at 51.5% of the average gross salary, some communities exceeded that figure , such as the Balearic Islands, where paying rent represented 82.8% of salary in 2020.

Madrid was also above this percentage, with 69.6%, as did Catalonia , with 63.5% of the average gross salary, the Canary Islands, 57.4%, and Andalusia, 53%.

On the contrary, the rental price in Extremadura only accounted for 30.3% of salary , and in Asturias, 31.3%.

The director of Estudios de piso.com, Ferran Font, pointed out that this mismatch between communities shows “the disproportion between wages and the cost of housing” in much of Spain.

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