Let’s look at how expensive the cost of living in Valencia is. The prices here have risen quite a bit in the last few years, making it much more difficult for the locals. So if you’re considering a move to Valencia, here are the numbers you should keep in mind. 

Prices in Valencia

Valencia is the third-largest city in Spain, so naturally – it’s also one of the more expensive places. In fact, there are some areas where it is more expensive than Madrid! 

A lot of these increases in prices are due to foreign investment. This means that the averages prices in Valencia have risen considerably due to investors, retirees, and other types of immigration. 

So let’s take a look at the cost of living in Valencia for the average local. 

Average Salary in Valencia

According to the Instituto Nacional de Estadística, the average salary in Valencia was €23,448 in 2021. The median was €19,842. 

And remember – both of these numbers are before taxes.  So the median person will have a pre-tax monthly salary of around €1,600. In general, Spain tends to have much lower salaries compared to France, Germany, or the UK. 

So when we look at the next numbers, it’s important to keep in mind that most Valencians are earning less than €2k per month. 

Average Rent

In 2024, the average rent in Valencia rose by about 18%. According to Idealista, the average is around €12 per m².  If you’re going to the Ciutat Vella, that goes up to €17.90/m². But in non-centric neighborhoods like Patraix, it’s around €11.40/m².

Naturally, this will range depending on the exact location and conditions of the apartment. But let’s do some quick math to give you an idea of what to expect for the cost of rent in Valencia. 

• €1,000/mo for a small studio in the city center. 
• €2,000/mo for an average 3-bedroom in the center
• €700/mo for a studio in Patraix
• €1400/mo for a 3-bedroom in Patraix 

Considering the typical salary for a Valencian, this means that rent currently takes up a large percentage of their paycheck. 

Average Housing Prices

Now let’s say you’re planning on living in Valencia permanently – then it’s time to start looking at purchasing a home. Just like rentals, the prices in Valencia have risen considerably in the past few years. 

You’re looking at an average of €2,166/m² in Patraix, or €3764/m² in L’Eixample (Russafa). So again, to give a very general rule, you can expect:

• €225,840 for a studio in Russafa
• €450,000 for a 3-bedroom in Russafa
• €129,000 for a studio in Patraix
• €260,000 for a 3-bedroom in Patraix

These home prices may seem rather low for people who come from some foreign countries. However, for most Valencians – these numbers make it more and more difficult for people to purchase a home. 

According to Business Insider, most people under the age of 30 would need to save 100% of their salary for 4 years in order to have the down payment for a home. 

Grocery Prices

Another important cost of living in Valencia – food prices. While still relatively manageable, it’s true that prices have increased considerably in the past few years. 

According to the Ministry of Agriculture, the price of Olive Oil has quadrupled in the last 4 years. So necessities are also increasing steadily. 

If you are planning on living in Valencia, you should expect to pay around €80 for 2 people per week. Naturally, this may vary depending on the types of food you eat. 

In my personal experience, my partner and I typically spend around €50-60 per week. But since we are both vegetarians, we don’t purchase any meat products, which can increase your grocery bill considerably. 

Public Transport

In general, the public transport in Valencia is quite inexpensive. There are discounts for residents, especially people who are under 30. 

And as of 2024, there are discounts for everyone that keeps the metro tickets at half-price. 

Even if you’re taking public transport every single day, you shouldn’t expect to pay more than €30 a month. This would include buses, metros, and local trains. 

Although if you are traveling in taxis, then the rates would definitely go up. But Valencia has a convenient transport system, so I find this isn’t usually necessary. 

Additional Bills

Naturally, these aren’t the only bills that are factored into your cost of living. Valencia has lots of cultural activities and other things to do. So besides some basic bills, you may also want to think about your quality of life when you’re here. 

Here are just a few other expenses you may have while living in Valencia:

• Internet: €30/mo
• Utilities: €120/mo
• Gym: €45/mo
• Dining Out: €20–30 per person
• Fast Food: €12 per person

➡️ Here are some free things to do in Valencia

Important Considerations

Valencia is becoming an increasingly more popular destination for people. Many people have shifted away from Barcelona and have started coming to Valencia to live. Especially many digital nomads and other immigrants from richer countries. 

So while Valencia may seem super appealing for people – I would like to be 100% transparent and up front with some of the problems as well. 

Because I genuinely think Valencia is an amazing place to live (hence, why I’ve lived here for so long)! But at the same time, there are some downsides that you should consider. Make sure to think about your personal economic situation, values, and priorities as you think about the following considerations:

Unemployment is high

Valencia has a fairly high unemployment rate. Spain in general is one of the worst countries in Europe in terms of employment opportunities, especially for the younger generation. Around 12.8% of the population was unemployed in 2023, according to the Valencian Government. 

So if you’re coming to Valencia in search of jobs, you may find it incredibly difficult. Outside of the hospitality industry, it can be quite difficult to secure a position. And don’t forget to consider the average salary, as well. 

While I’m not saying it is impossible – it’s certainly something to consider. If you want to freelance here, make sure you register as “autònom” and pay the corresponding taxes. 

Gentrification is rising

One major problem that has become more and more apparent is the rise of gentrification and mass tourism in Valencia. 

Not only has this led to a huge increase in housing prices, it’s also led to a loss of local businesses and traditional shops. Areas such as Russafa have become notorious for being too expensive for locals to live in. 

This has led to strong social movements against foreigners moving to Valencia. 

In other words, if you decide on living in Valencia and you come from a richer country, just be aware that this is an ongoing problem you could be contributing towards. Make sure you make responsible choices during your move and support the local culture and businesses as much as possible. 

Housing is limited

Connected to the last one – it’s becoming more and more difficult to find appropriate housing in Valencia. The average prices are increasing and the availability is decreasing. This often leads to people struggling to find adequate living conditions. 

The actual process of finding a home can be frustrating, especially if you don’t speak Valencian or Spanish. Listings will get taken super quickly, so you’ll have to have some patience while searching for a home to rent or buy. 

Paperwork can be difficult

The most important thing to consider if you’re planning on living in Valencia – the paperwork. Handling all of your paperwork with the Immigration Office is not a simple (or fast) process. 

Appointment times fill up quickly, the actual appointments can be frustrating, and the documentation can difficult to understand for foreigners. 

So if you are planning on moving here, make sure you give yourself ample time to handle all your paperwork. 

Travel Responsibly

Valencia is still an inexpensive city to live in, when compared to Madrid or Barcelona. Although even though the cost of living in Valencia might be acceptable for you, the truth is that it has become difficult for Valencians.  

This is because the prices in Valencia are continuing to increase, but the average salaries have not. Due to mass tourism and problems with foreign investors, many locals and politicians are looking into prioritizing the lives of locals. 

This means that if you’re looking to move to Valencia, it’s important for you to understand the impact you will leave on the city. And you’ll also need to know how this will affect you as well! 

If you plan on coming and you have any questions, feel free to reach out and I’d be happy to help you answer any questions!

Other Travel Resources:

• Travel to Valencia on a Budget
• How to rent a car
• Cheap flights to Valencia
• Valencia Neighborhood Guide
• Day Trips from Valencia
• Best Currency Exchange Card
• eSIM Card
• Is Valencia Safe?
• Travel Insurance

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