The Challenge of Living Alone in Alicante: Salaries of €32,000 to Rent a Studio or €50,700 in Savings to Buy One

Living alone is practically a dream in the city of Alicante. With soaring rents and housing prices at their peak, singles have few options to become independent and have a home of their own. Thus, salaries above the average would be needed to access a small studio or apartment.

For those looking to rent a studio in Alicante, the average price is €800 per month. According to the real estate portal Idealista, a net salary of €32,000 would be necessary to manage expenses reasonably. Annually, a total of €9,600 would be paid for renting this small apartment, which is 30% of a person's income, the percentage set to determine if rent can be managed along with other daily expenses.

The situation is not much more hopeful when it comes to buying a studio. Prices hover around €169,000 in the city of Alicante. With a mortgage, the payment would be between €550 and €600, so the required salary would be almost €10,000 lower than needed for renting, about €22,680.

However, the problem lies in the amount of savings needed to buy these small apartments in the city of Alicante. With these prices nearing €170,000, to apply for a mortgage, one would need to have saved around €50,700.

The city of Alicante ranks as the 12th capital in Spain where the most savings are needed to buy a studio, while in the rental column, it ranks ninth with the highest salaries, matching Málaga and above Girona, Seville, or Pamplona.

In the case of the province, the averages drop slightly. For example, to rent a studio, one would need to allocate €670 per month, requiring a minimum net annual salary of €26,800. To buy, savings fall to €29,702, about €332 per month and an income of €13,280, much more affordable, although this is the provincial average and these figures skyrocket in the most touristy and demanded localities.

Alicante exceeds the Spanish average both for renting and buying a studio. In both cases, the necessary salaries are lower or equal to those required in the provincial capital. However, it is far from what is required in cities like Barcelona, Madrid, or Valencia, where to rent an apartment, incomes of more than €40,000 net per year would be needed.