Rent in Madrid vs Palmas de Gran Canaria, Las
Madrid · Comunidad de Madrid — Las Palmas · Canarias · INE data 2026
Renting in Palmas de Gran Canaria, Las is 74% cheaper than in Madrid. The difference is €428/month — a saving of €5,136 per year.
€1006/month in Madrid vs €578/month in Palmas de Gran Canaria, Las. National average: €648/month.
Context
Madrid (Comunidad de Madrid) and Palmas de Gran Canaria, Las (Canarias) represent two rental markets from different Spanish autonomous communities. Palmas de Gran Canaria, Las is the more affordable option, saving €428/month compared to Madrid. Unemployment in Palmas de Gran Canaria, Las (14.2%) is higher than in Madrid (7.1%), which may affect rental demand and purchasing power.
Madrid
Las Palmas
Estimated rent
Madrid
1006€/month
Palmas de Gran Canaria, Las
578€/month
Annual change
Madrid
+2.7%
Palmas de Gran Canaria, Las
+2.2%
INE index (base 2015=100)
Madrid
118.3
Palmas de Gran Canaria, Las
115.7
vs national average
Madrid
+358€
Palmas de Gran Canaria, Las
-70€
Population
Madrid
3,506,730
Palmas de Gran Canaria, Las
381,868
Per capita income
Madrid
19,632€
Palmas de Gran Canaria, Las
14,968€
Rent-to-income ratio
Madrid
61.5%
Palmas de Gran Canaria, Las
46.3%
Where is it better to rent?
In terms of rent, Palmas de Gran Canaria, Las is the more affordable option at €578/month, 74% less than Madrid (€1006/month). Living in Palmas de Gran Canaria, Las saves €5,136 per year compared to Madrid.
Madrid
Madrid · Comunidad de Madrid
1006€/month
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Palmas de Gran Canaria, Las
Las Palmas · Canarias
578€/month
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Cost of living guides
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Official source
Instituto Nacional de Estadística
Organismo estadístico oficial del Estado español
www.ine.es View source →