Cost of Living in Spain in 2024 - Basic Facts You Need to Know

You might have encountered varying opinions on the cost of living in Spain—some suggesting it's expensive, while others argue the opposite. Regardless of your current perception, having a clear understanding of the budget required is crucial when considering a move to Spain either for work or for vacation.

A new life implies facing different costs, like rent, transportation, food, and other leisure activities. So how much money do you need to live comfortably in Spain? Is it really expensive for foreigners?

How much cheaper is compared to USA or Canada?

The cost of living in Spain is significantly lower than in the US. For instance, if your usual rent in the US is $1,500, you can lead a comfortable lifestyle in Spain with the same amount for an entire month, covering all expenses.

Given that average salaries in the US can be double those in Spain, American citizens often find living in Spanish territories quite affordable. This is why many opt to maintain their US-based incomes while remotely working from Spain, enjoying the country's offerings at a lower cost. The Digital Nomad visa provides a legal avenue for such arrangements.

What's the cost of rent in Spain?

On average, monthly rent are around €600. However, moving away from central areas and steering clear of major cities like Barcelona or Madrid opens up the possibility of securing more budget-friendly rentals, often around €400.

How much are restaurants in Spain?

Dining out in Spain is quite budget-friendly. Lunchtime set menus; a first and second course, a drink, and dessert, can be as low as €10. Even for dinner, without a set menu, you can enjoy quality cuisine at restaurants for €15-20. For those opting for fast-food alternatives, a complete menu is available for just €6 or €8.

In summary, Spain is a country where you can enjoy eating out or participate in cultural activities without stress about your pocket. As in many other countries, most of the expenses are based on housing but remember, in Spain rent is pay month to month ;).