More than 60% of the supply of rooms for rent is in Madrid, Barcelona and Valencia. The Catalan capital has the most expensive average price in Spain (€550 per month) with Ciutat Vella (€625) and Sarrià-Sant Gervasi (€605) standing out, according to idealista's data for the first quarter. Madrid has the most stock with Centro and Chamberí being the districts with the highest prices - close to €600 per month - while in Valencia, L'Eixample (18.8%) recorded the highest rise of all the areas analysed, setting a new maximum of €475/month.
Six out of every 10 flat shares are in Spain's three largest cities. Madrid has half of them, while Barcelona (20%) and Valencia (10%) have more than 2,500 listings for renting a room.
Recently, idealista confirmed a 43% year-on-year increase in the supply of shared flats in the first quarter, which left the average price at €400 per month, a 3% year-on-year increase at a national level.
Barcelona is the city with the most expensive rent per room in Spain, reaching an average of €550 per month. It is closely followed by Madrid (€525) and Valencia at €400/month. Zooming in on the map of these three large markets, we can see the difference in prices between the districts and their different evolution compared to March 2023.
Ciutat Vella (Barcelona), the most expensive district to rent a room
The most expensive district for renting a room in a shared flat is Ciutat Vella costing €625 per month per room. It is followed by Madrid's district Chamberí at €612/month and its neighbour Sarrià-Sant Gervasi at €605. These are the only three districts costing more than €600 per room per month.
The next dozen districts are in Madrid and Barcelona, with the capital's Centro district (€599) close to €600, followed by Chamartín (€595) and the Catalan capital's Eixample at €590.
Next, another four Madrid districts are within a price range of between €555 in Salamanca and €575 in Retiro, with Moncloa and Tetuán among the most expensive. Behind them, half of Catalan districts range in price from €490 in Horta Guinardó to €500 in Les Corts, as well as Gràcia, Sants-Montjuïc and Sant Martí.
Valencia's most expensive areas are already below €500 per month for a room, where L'Eixample at €475 and Ciutat Vella at €470 stand out.
Other Valencia and Madrid districts are more affordable
However, most Valencian districts are at the same price or below the Spanish average of €400, such as Rascanya (€340), Benimaclet (€360), Benicalap (€362) or Algirós (€365).
At €370/month, Patraix, L'Olivereta, Jesús and La Saïdia are also on the list, while Camins al Grau comes in at €375.
Also below this national average price are several districts in Madrid, such as Moratalaz and Villaverde, both with an average of €380 per room. But five other districts of the capital reach an average of €400, such as Carabanchel, Vicálvaro, Villa de Vallecas, Puente de Vallecas and San Blas.
Where have room rental prices risen the most in the last year?
Rent in these three capitals rose above the national average (3%). In Madrid, they rose by 5%, while in Valencia it was 8% and in Barcelona they rose by 10%. However, increases in the districts of these three markets were more uneven, with only one price decrease.
The largest annual rises were in areas in the three capitals, such as L'Eixample in Valencia, which recorded a rise of 18.8%, ahead of the 17.8% in Chamartín (Madrid) or the 16.9% in Nou Barris, the cheapest district in Barcelona. Tetuán (16.7%), also in Madrid, recorded an increase still above 15%.
Still above 10%, there are another 10 districts in Madrid and Valencia, including Usera, Barajas, Chamberí and Carabanchel in the capital, while in Valencia, La Saïdia, Rascanya, Ciutat Vella, El Pla del Real, Poblats Marítims and Benimaclet saw their prices rise.
On the other hand, the Valencian district of Patraix recorded the only decrease in room rental prices, with a 1.3% drop, while in the Madrid districts Salamanca and Centro, rent barely rose by 1.5% and 1.7%, respectively.
Room supply in Spain soars 43% in first quarter of 2024
Shared flat supply increased by 43% year-on-year during the first quarter, while demand has barely decreased by 1%, which has caused the price to only increase by 3%, to €400 per month, according to a report by idealista. At this time, there is a greater stock of rooms available compared to a year ago in all provincial capitals, except Palencia, Huesca, Segovia and Soria.
