HIPOTECALC ANALYTICS / IHEC
Home purchase effort in Spain · Q3 2024
How many estimated annual household incomes an 80 m² home costs at asking prices. A comparable measure across 100 Spanish municipalities.
By Equipo Hipotecalc · Published 8 September 2026
Source cutoff: 7 September 2026 · Edition 2026-09-07-v1 · Methodology 1.0
Retrospective report for Q3 2024, published on 8 September 2026 using data available at the 7 September 2026 cutoff. It was not published in the quarter analysed.
- Sample median
- 3.81× Annual household incomes · Q3 2024
- Quarterly change
- -1.7 % Q2 2024
- Annual change
- +1.1 % Same quarter, previous year
- Municipalities
- 100 Fixed sample, population 2025
The quarter in context
In Q3 2024, the median IHEC across the fixed sample of 100 municipalities was 3.81. Half of the municipal observations lie on either side of the median. It is a summary of this sample, not the average effort of Spanish households. The index divides a reference asking price for 80 m² by estimated annual household income.
Marbella recorded the highest ratio (10.61), followed by Arona (8.79) and Fuengirola (8.67). At the other end, Talavera de la Reina recorded 2.33. The difference between the highest and lowest ratios was 8.27 annual income multiples.
What changed from the previous quarter
Compared with Q2 2024, the sample median changed by -1.7 %. The index increased in 70 municipalities and decreased in 30. These counts describe changes in a modelled price-income ratio, not changes in the number of households able to buy.
The largest quarterly change was in Estepona: +4.8 %, with an index of 8.37. The same national income factor applies across the sample; differences in municipal changes therefore reflect their different asking-price paths. They do not demonstrate locally observed income growth.
Compared with the same quarter a year earlier, the median changed by +1.1 %. This is the change in the median, not the median of individual municipal changes.
How to interpret these results
The reference home has the same floor area in every municipality, but not necessarily the same quality, location or characteristics. Prices are asking prices and the income denominator is estimated. The index excludes financing, taxes and living costs. No causal conclusion about policy, tourism, employment or mortgage rates follows from this ranking alone.
Full quarterly ranking
Click a column heading to sort. The arrow indicates the direction; ranks stay unchanged.
| 1 | Marbella | 10.61 | +3.5 % | +10.7 % |
|---|---|---|---|---|
| 2 | Arona | 8.79 | +1.3 % | +12.9 % |
| 3 | Fuengirola | 8.67 | +3.0 % | +12.3 % |
| 4 | Estepona | 8.37 | +4.8 % | +8.1 % |
| 5 | Donostia/San Sebastián | 8.37 | +0.9 % | +3.1 % |
| 6 | Madrid | 7.85 | +4.0 % | +17.7 % |
| 7 | Benalmádena | 7.58 | +2.8 % | +8.8 % |
| 8 | Palma | 7.46 | +1.6 % | +4.5 % |
| 9 | Barcelona | 7.22 | +0.4 % | +3.9 % |
| 10 | Mijas | 6.97 | +1.6 % | +7.8 % |
| 11 | Málaga | 6.61 | +1.1 % | +12.4 % |
| 12 | Torrevieja | 6.26 | +0.9 % | +7.3 % |
| 13 | Bilbao | 5.95 | +0.5 % | +3.4 % |
| 14 | Orihuela | 5.95 | +0.3 % | +6.2 % |
| 15 | Cádiz | 5.81 | +1.9 % | +2.9 % |
| 16 | Barakaldo | 5.17 | +3.2 % | +3.6 % |
| 17 | València | 5.09 | +4.0 % | +11.8 % |
| 18 | Chiclana de la Frontera | 5.03 | +2.6 % | +12.7 % |
| 19 | Santander | 5.01 | +3.6 % | +8.4 % |
| 20 | Hospitalet de Llobregat, L' | 5.00 | +0.7 % | -4.7 % |
| 21 | Cornellà de Llobregat | 4.95 | -2.0 % | -2.7 % |
| 22 | Coruña, A | 4.88 | +2.6 % | +5.5 % |
| 23 | Alacant/Alicante | 4.78 | +1.4 % | +12.6 % |
| 24 | Sevilla | 4.72 | +0.2 % | +4.3 % |
| 25 | Puerto de Santa María, El | 4.64 | +0.3 % | -1.1 % |
| 26 | Vitoria-Gasteiz | 4.63 | +1.0 % | -1.5 % |
| 27 | Pamplona/Iruña | 4.62 | +0.8 % | -0.5 % |
| 28 | Leganés | 4.57 | +3.6 % | +6.4 % |
| 29 | San Sebastián de los Reyes | 4.55 | +1.7 % | +9.2 % |
| 30 | Granada | 4.53 | +1.6 % | +10.2 % |
| 31 | Alcorcón | 4.51 | +1.6 % | +2.8 % |
| 32 | Coslada | 4.47 | -0.7 % | -0.1 % |
| 33 | Palmas de Gran Canaria, Las | 4.44 | +0.7 % | +4.6 % |
| 34 | Getafe | 4.38 | +1.5 % | +4.0 % |
| 35 | Vigo | 4.36 | +0.7 % | +5.4 % |
| 36 | Santa Coloma de Gramenet | 4.31 | -2.5 % | -6.2 % |
| 37 | Salamanca | 4.27 | +0.4 % | +0.8 % |
| 38 | Gijón | 4.26 | +4.0 % | +8.3 % |
| 39 | Sant Boi de Llobregat | 4.25 | -1.7 % | -3.7 % |
| 40 | Sant Cugat del Vallès | 4.25 | -1.2 % | +0.6 % |
| 41 | Móstoles | 4.22 | +2.3 % | +7.5 % |
| 42 | Girona | 4.21 | +1.2 % | +7.2 % |
| 43 | Badalona | 4.13 | -3.7 % | -8.5 % |
| 44 | Mataró | 4.12 | -0.3 % | -4.7 % |
| 45 | Santa Cruz de Tenerife | 4.11 | +2.7 % | +7.8 % |
| 46 | Torrejón de Ardoz | 4.05 | +2.1 % | +6.2 % |
| 47 | Fuenlabrada | 4.01 | +0.9 % | +2.0 % |
| 48 | Pontevedra | 3.91 | -1.4 % | -2.9 % |
| 49 | Ceuta | 3.88 | -1.9 % | -0.6 % |
| 50 | Alcalá de Henares | 3.85 | -1.1 % | +3.3 % |
| 51 | Sabadell | 3.77 | -2.3 % | -5.0 % |
| 52 | Parla | 3.74 | +4.3 % | +5.6 % |
| 53 | Vélez-Málaga | 3.63 | +0.1 % | +5.1 % |
| 54 | Terrassa | 3.58 | -1.2 % | -1.7 % |
| 55 | Alcobendas | 3.58 | +2.0 % | +5.6 % |
| 56 | Santiago de Compostela | 3.57 | -1.2 % | +2.0 % |
| 57 | San Fernando | 3.56 | +1.0 % | +5.7 % |
| 58 | Rivas-Vaciamadrid | 3.56 | +1.9 % | +4.5 % |
| 59 | Elx/Elche | 3.53 | +3.7 % | +9.9 % |
| 60 | Zaragoza | 3.53 | +1.5 % | +2.5 % |
| 61 | Logroño | 3.52 | +0.6 % | +2.5 % |
| 62 | San Cristóbal de La Laguna | 3.51 | -0.3 % | +4.7 % |
| 63 | Rubí | 3.49 | -2.1 % | -3.5 % |
| 64 | Burgos | 3.45 | +1.3 % | +3.2 % |
| 65 | Telde | 3.38 | +1.8 % | +3.6 % |
| 66 | Valladolid | 3.38 | +0.2 % | +3.0 % |
| 67 | Oviedo | 3.37 | +0.5 % | +3.6 % |
| 68 | Santa Lucía de Tirajana | 3.37 | +2.3 % | +7.3 % |
| 69 | Jerez de la Frontera | 3.31 | +0.8 % | +6.2 % |
| 70 | Ourense | 3.25 | -1.8 % | +0.1 % |
| 71 | Córdoba | 3.25 | -0.2 % | -0.4 % |
| 72 | Gandia | 3.21 | +1.3 % | +7.3 % |
| 73 | Albacete | 3.21 | +1.3 % | +4.0 % |
| 74 | Valdemoro | 3.20 | +4.2 % | +8.5 % |
| 75 | Rozas de Madrid, Las | 3.20 | +1.5 % | -0.5 % |
| 76 | Melilla | 3.17 | -1.0 % | -2.7 % |
| 77 | Tarragona | 3.11 | -3.1 % | -1.9 % |
| 78 | Huelva | 3.10 | -0.5 % | +5.2 % |
| 79 | Badajoz | 3.06 | +0.5 % | +0.8 % |
| 80 | Guadalajara | 3.06 | -0.1 % | +0.0 % |
| 81 | Almería | 3.06 | -0.0 % | +3.9 % |
| 82 | Pozuelo de Alarcón | 3.01 | +0.8 % | +4.9 % |
| 83 | León | 3.01 | -0.2 % | +2.6 % |
| 84 | Roquetas de Mar | 2.96 | -1.9 % | -2.0 % |
| 85 | Dos Hermanas | 2.90 | +2.4 % | +6.8 % |
| 86 | Toledo | 2.87 | +1.6 % | +5.1 % |
| 87 | Cartagena | 2.83 | +0.3 % | +3.3 % |
| 88 | Ejido, El | 2.81 | -1.9 % | -4.0 % |
| 89 | Lugo | 2.78 | -1.2 % | -2.2 % |
| 90 | Torrent | 2.76 | -0.7 % | +1.5 % |
| 91 | Cáceres | 2.72 | +0.1 % | +2.0 % |
| 92 | Reus | 2.70 | -0.5 % | +2.2 % |
| 93 | Castelló de la Plana | 2.70 | +1.2 % | +5.0 % |
| 94 | Murcia | 2.68 | +0.3 % | +2.6 % |
| 95 | Manresa | 2.60 | +2.8 % | +6.0 % |
| 96 | Algeciras | 2.53 | +0.8 % | -1.9 % |
| 97 | Jaén | 2.47 | -0.5 % | +2.2 % |
| 98 | Lorca | 2.36 | -0.6 % | -1.1 % |
| 99 | Lleida | 2.35 | +2.4 % | +4.1 % |
| 100 | Talavera de la Reina | 2.33 | +2.7 % | +9.3 % |
FOR JOURNALISTS & RESEARCHERS
Cite this analysis
Hipotecalc Analytics. Hipotecalc Home Purchase Effort Index (IHEC), Q3 2024. Edition 2026-09-07-v1. Calculations by Hipotecalc using Idealista asking prices and INE income/household data. Municipal quarterly income is estimated. https://www.hipotecalc.com/en/analytics/house-price-to-income/reports/2024-q3
CSV includes derived index results and attribution, not the complete underlying source database. Municipal pages download the full series; the chart shows the six highest-effort municipalities.