Rent price in Palmas de Gran Canaria, Las
Las Palmas · Canarias
Estimated rent · IPVA 2023
Net income
15.0k€
per capita/yr
Unemployment
14.2%
SEPE
Population
382k
residents
In 2023, the estimated rent in Palmas de Gran Canaria, Las is €578/month (INE IPVA index), a +2.2% annual change and 6.1% higher than in 2020. Estimated provincial average in Las Palmas: €596/month.
Full guide: living in Palmas de Gran Canaria, Las
Monthly budget, required salary and mortgage estimate
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Rental flats in Palmas de Gran Canaria, Las →
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National market context
National rank
#442
out of 748 municipalities
vs Canarias
-11€
region avg: €589
Trend vs Spain
-0.1%
avg: 2.3%
Trend vs region
-0.5%
region avg: €2.7
Palmas de Gran Canaria, Las ranks 442 out of 748 municipalities in the INE rent price index. It is close to the Canarias average (€589/month).
Rent price evolution
Estimated monthly rent in Palmas de Gran Canaria, Las (€/month). Source: INE IPVA.
Income and housing effort
Net income per capita
14.968€
per year · INE Atlas
Average household income
39.148€
per year
Rent-to-income ratio
46.3%
of per capita income
Average gross salary
25.120€
per year · Canarias
Rent-to-salary ratio
27.6%
of annual gross salary
The national average effort is 55.4% of per capita income. Palmas de Gran Canaria, Las is 9 points below that average.
Source: INE Atlas of Household Income Distribution · INE Survey of Wage Structure (op.140). Gross salary is the Canarias average.
Registered unemployment
Estimated unemployment rate
14.2%
of estimated active population
Registered unemployed
28,772
people
Annual change
-6.1%
vs same month previous year
Source: SEPE (Spanish Public Employment Service)
How much do you need to earn to live in Palmas de Gran Canaria, Las?
With rent at €578/month, the recommended salary (30% rule) is €32,500 gross/year.
Recommended salary
32,500€
gross / year
Rent
578€
/ month
Real avg income
14,968€
net / year
Enter your gross annual salary to see what rent in Palmas de Gran Canaria, Las means for your budget.
What would a mortgage cost in Palmas de Gran Canaria, Las?
For a €115,000 property (estimated from current rent), the monthly payment would be €461 over 25 years at 3.5%. You need €34,500 for the down payment and costs (20% + 10%). Based on average incomes in Palmas de Gran Canaria, Las, saving that amount would take around 2.9 years.
What does it cost to live in Palmas de Gran Canaria, Las?
Rent is €578/month. With average food, transport and utilities, the estimated cost of living is €1,348/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 | 115.676 | 578€ |
| 2022 | 113.186 | 566€ |
| 2021 | 110.720 | 554€ |
| 2020 | 108.935 | 545€ |
Frequently asked questions
How much does it cost to rent in Palmas de Gran Canaria, Las?
The estimated rent in Palmas de Gran Canaria, Las is €578/month in 2023, according to the INE Housing Rental Price Index (IPVA).
Have rents gone up or down in Palmas de Gran Canaria, Las?
Rent in Palmas de Gran Canaria, Las has risen by 2.2% compared to the previous year, per the INE IPVA index.
Is Palmas de Gran Canaria, Las expensive to rent compared to the national average?
No, rent in Palmas de Gran Canaria, Las (€578/month) is 11% below the national average (€648/month).
How much do you need to earn to live in Palmas de Gran Canaria, Las?
Applying the 30% rule (rent should not exceed 30% of net income), you need approximately €23000 net per year to live in Palmas de Gran Canaria, Las with a rent of €578/month.
What would a mortgage cost in Palmas de Gran Canaria, Las?
For an estimated property price of €115,000 in Palmas de Gran Canaria, Las (based on current rent of €578/month), the monthly mortgage payment would be €461 over 25 years at 3.5% APR. Down payment and purchase costs amount to approximately €34,500 (20% down + ~10% costs).
Las Palmas province
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Other municipalities in Las Palmas
Municipalities with similar rent
Municipalities in Spain with a similar rent to Palmas de Gran Canaria, Las (±10%)
Want to compare Palmas de Gran Canaria, Las with another municipality?
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: 35016