Spain · Europe · Population: 3,300,000
Madrid is moderately affordable compared to major global cities, with steady growth in property values. The city has moderate rental prices. At $320,000 average home price in Spain, buyers should consider the 8.2x price-to-income ratio when planning a purchase.
| Average Home Price | $320,000 |
| Price per sqm | $4,800 |
| Price-to-Income Ratio | 8.2x |
| Mortgage Rate | 3.2% |
| 1-Year Price Change | +4.8% |
| 1-Bedroom Apartment | $1,100/mo |
| 3-Bedroom Apartment | $1,800/mo |
| Rent-to-Income Ratio | 28% |
| Median Household Income | $39,000/year |
| Years to Buy (at median income) | 8.2 years |
| Local Currency | EUR |
With a price-to-income ratio of 8.2x, Madrid requires significant savings to purchase property. At a mortgage rate of 3.2%, monthly payments could consume a large share of income. Home prices have increased 4.8% in the past year.
Cities worldwide with home prices closest to Madrid
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