Rent price in Palencia
Palencia · Castilla y León
Estimated rent · IPVA 2023
Net income
15.6k€
per capita/yr
Unemployment
9.6%
SEPE
Population
77,466
residents
In 2023, the estimated rent in Palencia is €449/month (INE IPVA index), a +1.5% annual change and 4.2% higher than in 2020. Estimated provincial average in Palencia: €449/month.
Full guide: living in Palencia
Monthly budget, required salary and mortgage estimate
Idealista
Rental flats in Palencia →
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National market context
National rank
#687
out of 748 municipalities
vs Castilla y León
-22€
region avg: €471
Trend vs Spain
-0.8%
avg: 2.3%
Trend vs region
-0.4%
region avg: €1.9
Palencia ranks 687 out of 748 municipalities in the INE rent price index. It is close to the Castilla y León average (€471/month).
Rent price evolution
Estimated monthly rent in Palencia (€/month). Source: INE IPVA.
Income and housing effort
Net income per capita
15.643€
per year · INE Atlas
Average household income
35.179€
per year
Rent-to-income ratio
34.4%
of per capita income
Average gross salary
26.177€
per year · Castilla y León
Rent-to-salary ratio
20.6%
of annual gross salary
The national average effort is 55.4% of per capita income. Palencia is 21 points below that average.
Source: INE Atlas of Household Income Distribution · INE Survey of Wage Structure (op.140). Gross salary is the Castilla y León average.
Registered unemployment
Estimated unemployment rate
9.6%
of estimated active population
Registered unemployed
3,305
people
Annual change
-2.8%
vs same month previous year
Source: SEPE (Spanish Public Employment Service)
How much do you need to earn to live in Palencia?
With rent at €449/month, the recommended salary (30% rule) is €25,500 gross/year.
Recommended salary
25,500€
gross / year
Rent
449€
/ month
Real avg income
15,643€
net / year
Enter your gross annual salary to see what rent in Palencia means for your budget.
What would a mortgage cost in Palencia?
For a €90,000 property (estimated from current rent), the monthly payment would be €360 over 25 years at 3.5%. You need €27,000 for the down payment and costs (20% + 10%). Based on average incomes in Palencia, saving that amount would take around 2.6 years.
What does it cost to live in Palencia?
Rent is €449/month. With average food, transport and utilities, the estimated cost of living is €1,219/month. Adjust each category to your situation.
Estimated expenses based on national averages. Adjust to your lifestyle.
Climate
Monthly max & min temperature (°C) · 2015–2024 normals
Source: Open-Meteo · ERA5 reanalysis (ECMWF)
Rent index evolution
| Year | INE IPVA Index | Estimated rent |
|---|---|---|
| 2023 | 112.178 | 449€ |
| 2022 | 110.562 | 442€ |
| 2021 | 109.173 | 437€ |
| 2020 | 107.794 | 431€ |
Frequently asked questions
How much does it cost to rent in Palencia?
The estimated rent in Palencia is €449/month in 2023, according to the INE Housing Rental Price Index (IPVA).
Have rents gone up or down in Palencia?
Rent in Palencia has risen by 1.5% compared to the previous year, per the INE IPVA index.
Is Palencia expensive to rent compared to the national average?
No, rent in Palencia (€449/month) is 31% below the national average (€648/month).
How much do you need to earn to live in Palencia?
Applying the 30% rule (rent should not exceed 30% of net income), you need approximately €18000 net per year to live in Palencia with a rent of €449/month.
What would a mortgage cost in Palencia?
For an estimated property price of €90,000 in Palencia (based on current rent of €449/month), the monthly mortgage payment would be €360 over 25 years at 3.5% APR. Down payment and purchase costs amount to approximately €27,000 (20% down + ~10% costs).
Palencia province
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Municipalities with similar rent
Municipalities in Spain with a similar rent to Palencia (±10%)
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Rent, income, population and more, side by side.
Official source
Instituto Nacional de Estadística
Organismo estadístico oficial del Estado español
www.ine.es View source →Methodology
Data comes from the Housing Rental Price Index (IPVA) published by Spain's National Statistics Institute (INE), with base 100 in 2015. The estimated rent is calculated by applying the index to the median reference price for the province in 2015.
Source: INE IPVA base 2015=100 · INE code: 34120