Rent in Palma vs Santa Cruz de Tenerife
Illes Balears · Illes Balears — Santa Cruz de Tenerife · Canarias · INE data 2026
Renting in Santa Cruz de Tenerife is 41% cheaper than in Palma. The difference is €238/month — a saving of €2,856 per year.
€819/month in Palma vs €581/month in Santa Cruz de Tenerife. National average: €648/month.
Context
Palma (Illes Balears) and Santa Cruz de Tenerife (Canarias) represent two rental markets from different Spanish autonomous communities. Santa Cruz de Tenerife is the more affordable option, saving €238/month compared to Palma. Unemployment in Santa Cruz de Tenerife (14.3%) is higher than in Palma (4.3%), which may affect rental demand and purchasing power.
Illes Balears
Santa Cruz de Tenerife
Estimated rent
Palma
819€/month
Santa Cruz de Tenerife
581€/month
Annual change
Palma
+3.4%
Santa Cruz de Tenerife
+2.9%
INE index (base 2015=100)
Palma
126.0
Santa Cruz de Tenerife
121.0
vs national average
Palma
+171€
Santa Cruz de Tenerife
-67€
Population
Palma
434,786
Santa Cruz de Tenerife
211,957
Per capita income
Palma
16,181€
Santa Cruz de Tenerife
15,110€
Rent-to-income ratio
Palma
60.7%
Santa Cruz de Tenerife
46.1%
Where is it better to rent?
In terms of rent, Santa Cruz de Tenerife is the more affordable option at €581/month, 41% less than Palma (€819/month). Living in Santa Cruz de Tenerife saves €2,856 per year compared to Palma.
Palma
Illes Balears · Illes Balears
819€/month
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Santa Cruz de Tenerife
Santa Cruz de Tenerife · Canarias
581€/month
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Cost of living guides
More comparisons with Palma
Official source
Instituto Nacional de Estadística
Organismo estadístico oficial del Estado español
www.ine.es View source →