Lorraine Williamson
Although homeownership remains the dominant trend in Spain, the number of renters is steadily rising. According to the Living Conditions Survey by the Spanish National Institute of Statistics (INE), the percentage of homeowners has dropped to 73.6%, while renters now make up 17% of households. Furthermore, among those under 30 years old, only 27% own their homes.
For the first time, more than half of Spaniards under 30 are renters. Additionally, a third of households aged between 30 and 44 are also opting for rental housing. Many young people find it increasingly difficult to afford a mortgage, despite rental prices often exceeding mortgage payments in many major cities. The time required to save for a house deposit has risen by 36.7% over the past 30 years.
Rising costs and demographic trends
Between 2023 and 2024, the proportion of homeowners in Spain declined from 75.1% to 73.6%, while the number of households renting at market rates increased from 15.4% to 17%. Other housing figures include:
- 6.1% of households live in social housing.
- 3.4% rent at a reduced price.
Among 45-64-year-olds:
- 43.3% fully own their homes.
- 33.1% still have a mortgage.
- 14.9% rent.
Among over-65s:
- 82.3% own their homes outright.
- 6.3% still have a mortgage.
- 5.2% rent.
Increasing number of families renting
The number of families with children choosing to rent is growing. The percentage of two-adult families with children renting increased from 16.3% in 2023 to 18.6% in 2024. In single-parent families, the rental rate increased from 22.7% to 24.3%.
Income gap between renters and owners
A significant income gap exists between renters and homeownership in Spain. The average net annual income of renters rose slightly to €17,323, while homeowners earned an average of €23,432. Additionally, tenants face a higher risk of social exclusion, with a poverty risk of 31.8%, compared to 15% for homeowners.
As the Spanish housing market evolves, renting is becoming a more viable option for many, particularly among younger generations and lower-income households.
Also read: Spain´s housing market in 2030 and why 80% of homes could become unsellable