Rental Prices in Araba/Álava 2023
Rental price statistics in the province of Araba/Álava - PAÍS VASCO
Ranking
#6 of 50 provinces
Variation 2023
+6.5%
Median rent (Collective housing)
9.80€/m²
Median amount/month
735.00€
Collective housing
2023
Median rent
9.80€/m²
Median amount
735.00€
Median area
75 m²
Contracts
4,000
Historical rent evolution
Price evolution
| Year | €/m² | €/month | Contracts | Variation |
|---|---|---|---|---|
| 2011 | 7.20 | 540.00 | 2,800 | - |
| 2012 | 7.00 | 525.00 | 2,600 | -2.8% |
| 2013 | 6.80 | 510.00 | 2,500 | -2.9% |
| 2014 | 6.70 | 500.00 | 2,600 | -1.5% |
| 2015 | 6.80 | 510.00 | 2,800 | +1.5% |
| 2016 | 7.00 | 525.00 | 3,000 | +2.9% |
| 2017 | 7.30 | 550.00 | 3,200 | +4.3% |
| 2018 | 7.60 | 570.00 | 3,400 | +4.1% |
| 2019 | 8.00 | 600.00 | 3,600 | +5.3% |
| 2020 | 8.20 | 615.00 | 3,200 | +2.5% |
| 2021 | 8.50 | 640.00 | 3,500 | +3.7% |
| 2022 | 9.20 | 690.00 | 3,800 | +8.2% |
| 2023 | 9.80 | 735.00 | 4,000 | +6.5% |
The rental housing market in the province of Araba/Álava, part of the Basque Country, has shown notable dynamics in 2023. Currently, the average rent stands at 9.8 euros per square meter, translating to an average monthly rent of approximately 735 euros. These figures indicate a competitive rental landscape, ranking Araba/Álava as the sixth most expensive province out of 52 in Spain. This positioning reflects the province's unique economic conditions, cultural richness, and demand for housing. For tenants, the average rent of 735 euros can represent a significant portion of their monthly income, particularly for younger individuals and families seeking affordable living options. With approximately 4,000 registered rental contracts in the province, the demand for rental properties suggests a robust market, although it may challenge those on tighter budgets. This scenario reinforces the need for prospective tenants to be well-informed and prepared before entering the rental market. In comparison to the broader Basque Country, Araba/Álava’s rental prices are relatively moderate, yet they still represent a considerable investment for many residents. In the Basque region, average rents can vary significantly, with cities like Bilbao and San Sebastián often commanding higher prices. Consequently, Araba/Álava can be seen as a more affordable alternative for individuals seeking proximity to urban centers while enjoying a more tranquil lifestyle. Nationally, Spain's rental market has been experiencing upward pressure on prices, influenced by factors such as increased demand and a limited supply of rental properties. The average rent across Spain is approximately 11 euros per square meter, making Araba/Álava's average slightly below the national average. This position may attract tenants from other regions looking for a balance between affordability and quality of life, particularly given the province's appealing amenities and natural surroundings. Looking ahead, the rental market in Araba/Álava is likely to evolve, influenced by ongoing economic trends and demographic shifts. With urbanization continuing to rise, the demand for rental properties may increase, potentially driving prices higher. Additionally, local government initiatives aimed at increasing the availability of affordable housing could play a pivotal role in shaping the market landscape. In conclusion, the rental housing market in Araba/Álava presents both challenges and opportunities for tenants. With an average rent of 9.8 euros per square meter and a competitive pricing ranking, the province continues to be an attractive option for those seeking to balance cost and quality of living. Understanding the local rental dynamics, alongside regional and national trends, will empower tenants to navigate this market effectively.