Why is Spain so cheap right now?

According to OECD data, the income per capita in Spain is 3.000 USD lower than the average OECD level (around € 28.800). Having a lower average salary, combined with an unemployment rate higher than the rest of Europe, makes it clearer why the current price levels are relatively low.



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Overall, total living costs in Spain are an incredible 21% cheaper than in the UK. This represents the average for the whole country, and depending on exactly where you are relocating from and to, this could be even higher.

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If you're by yourself, you can live on €1,000 per month in Spain. This includes room rent, groceries, health insurance, rare use of public transport, eating out a few times a month and shopping moderately.

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Spaniards earn USD 37 922 per year on average, less than the OECD average of USD 49 165. Another essential factor of employment quality is job security, in terms of expected loss of earnings when someone becomes unemployed.

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Italy vs Spain: cost To stretch your travel budget, Spain is typically slightly more affordable than Italy, even in expensive cities like Madrid.

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Best places to live in Spain: the verdict
  • San Sebastián: best for food and drink.
  • Frigiliana: best for rural escapes.
  • Marbella: best for families.
  • Toledo: best for affordable property.
  • Barcelona: best for culture.
  • The Canary Islands: best for climate.
  • Madrid: best for career opportunities.


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Where is the safest city to live in Spain? Serville, the capital of Andalusian, is considered to be the safest city in Spain with its relaxed, coastal lifestyle. Granada comes in a close second.

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Also known as one of the most expensive cities in Spain, ranking quite closely with Barcelona, Madrid is known for its richness in history, culture, and art. It has some of the finest collections of Spanish and Latin American art across its museums and galleries.

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While the cost of living can vary depending on location and personal preferences, Portugal tends to be slightly cheaper than Spain for accommodation, food, and transportation. Both countries offer beautiful scenery, rich culture, and delicious food, making them great destinations for travelers on a budget.

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Spain is a favorite destination for expats worldwide due to its sunny environment, beautiful beaches, rich culture, and laid-back lifestyle. But, like with any nation, living in Spain as an American or any other country expat has advantages and disadvantages.

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Considering the average cost of living in Spain, a good monthly net salary for a comfortable life in Spain is €2,700 for a single person or €4,000 for someone supporting their family.

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