Live rent is more expensive in Madrid in Los Angeles or Miami

While in Los Angeles will pay rent 47% of salary in Madrid surpasses and reaches 52.35%.

The community where the rent is lower is Extremadura, where they are located around 470 euros per month, which accounts for 28.37% of the average wage.

Although the crisis has meant that fewer homes were bought, Spain is still a country where people still poses buy a home. Therefore, the rental figures are not as high as in other countries such as the United States, where between 2007 and 2013 were added to the housing market about 6.2 million tenants face a rather poor figure Owners: only 208,000.

In Spain between 2001 and 2011 the percentage of home ownership decreased to reach 78.9%, while the number of rental housing has increased. In 2011, the country had more than 2.4 million rental property, a figure that is 51.1% higher than a decade ago. However, despite increasing the number of houses for rent, prices have continued to rise to reach higher than some of the more expensive cities around the world levels.

Head to the latest data from the rental market in the U.S., where housing in cities like Miami or Los Angeles are an expense of up to 47% of income, we find figures of Spain. In general, almost all regions are around the threshold of profitability, but you get over it, do it with a vengeance.

The autonomous community of Spain more expensive to live in rent is Madrid, where rent consumes 55.25% of monthly salary. According to the profitability index, households are at a reasonable price while it is less than 30% of the income of a home. In the United States, at least 90 cities have a rental cost greater than this percentage.

Behind Madrid are Basque Country and the Balearic Islands, where to pay the rent is required to disburse the 46.73% and 42.48% of gross salary. Already below 40 include, but are still quite a high percentage, Catalunya (39.57%) and the Canary Islands (37.19%). In this context, in Spain there are only three regions that do not reach this percentage: La Rioja (29.20%), Castilla-La Mancha (29.03%) and Extremadura (28.47%). The rest are on this 30%.

The price is not that different

Although the rents are higher relative value in the U.S., average wages are also much higher. In Madrid, for example, the average gross annual salary in 2011 was located at 25845.20 euros, compared to $ 48,000 (34,779 euros) in Miami, the second most expensive city in the United States.

Although relative price difference is not so great: if a citizen of Miami lives in a rental house and I assumed 47% of his salary, we are talking about a car about $ 1,880, ie about 1,361 euros . While in Madrid, the average salary is 2,153.7 euros per month, which has to deal with a rent of about 1,190 euros.

Alongside the Basque Country, Catalonia, Baleares and Navarra, the property price floor of Madrid is the highest: 10.38 euros per square meter, a price that is 33% higher more expensive than in the rest of Spain.

USA rental, Spain Cart

In the United States the number of tenants is much higher than that of Spain. In the North American country in 2013 had joined the real estate market 6.2 million tenants, representing 1.9% of the U.S. population. The difference in the number of homeowners who joined the market this year is abysmal: only 208,000 people.

However, the Spanish property map is very different, although the trend is to hire increasingly detrimental cart. Between 2001 and 2011, the homeownership rate fell to levels of the eighties, while the percentage has been rising rents.

In 2011, 13.5% of the more than 18 million homes in Spain were hired which is almost increased by over 51% when compared with figures from ten years earlier.

In this context, the report by the Insurance Car in February based on the risk-to rent extracted the trend to increasingly live in lease and the gradual fall in rental prices do not lead increased payment guarantees. In this regard, within the group of Spanish renters, 30% are at risk of not paying rent to the owner.


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