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Spain News Today

Spanish news in English

Friday, September 20, 2024

Spain's Youth Struggle with Housing Costs

Published: 2024-08-13

In 2023, the cost of housing in Spain has surpassed the median income of young people aged 16 to 29, making it nearly impossible for them to live independently.

According to the Youth Council of Spain, the average rent, combined with basic utilities, exceeds the median salary of young workers by 81 euros.

This financial strain has resulted in 70% of employed young adults continuing to live with their parents, with the average age of leaving home rising to 30.4 years.

Despite a slight increase in the youth emancipation rate to 17%, it remains significantly lower than the European average of 32%.

The high cost of living, particularly in regions like Catalonia and Madrid, forces many young people to share housing or face over-indebtedness.

The Youth Council calls for urgent government intervention to address the precarious living conditions and financial challenges faced by Spain's younger generation.