Updated 25 October 2026
Quick answer: In Spain in 2026, the minimum wage is €1,425/month (about $1,595 a month full time); an average earner keeps 76% of their pay after income tax and social security; mortgage rates are about 3.04%; household electricity costs €0.251 per kWh; petrol is €1.78/L, up 21% since February. The table below puts 11 everyday money measures for Spain side by side and ranks each one against the other countries in our data, using official figures from national statistics offices, central banks, the OECD and Eurostat.
Against the other countries in our data, Spain stands out here: its state pension (as a share of pay), 86.3% of net pay, is the 10th highest of 50 countries. It sits nearer the middle for tax on an average wage and household electricity price.
Spain at a Glance
| Measure | Spain | Rank |
|---|---|---|
| Minimum wage | €1,425/month (≈ $1,595/month) | 12th highest of 38 |
| Tax on an average wage | 23.5% (keeps 76%) | 14th lowest of 38 |
| Pay rise forecast 2027 | 3.2% (inflation 5.0%) | 7th lowest of 29 |
| Mortgage rate | 3.04% (new home loans, August 2026) | 7th lowest of 31 |
| Electricity (household) | €0.251/kWh (≈ $0.28) | 13th highest of 33 |
| Petrol price | €1.78/L (+21% since Feb) | 9th lowest of 29 |
| State pension age | 66 y 10 m | 9th highest of 39 |
| Pension (share of pay) | 86.3% of net pay | 10th highest of 50 |
| Bank deposit protection | €100,000 per person, per bank | — |
| Inheritance tax (children) | top rate 34% | — |
| Retirement visa income | €2,400 a month (+€600 per dependant) | — |
Rank compares Spain with the other countries in each dataset; "highest" means the largest value. "—" means the measure isn't ranked.
Minimum Wage in Spain (2026)
The legal minimum wage in Spain is €1,425/month. For a month of full-time work that is about $1,595 at current exchange rates, 12th highest of 38 countries in our comparison.
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Income Tax and Take-Home Pay in Spain
A single worker on the average wage in Spain (about $58,000 at purchasing-power parity) pays 23.5% of gross pay in income tax and employee social security, so they keep 76%. That is 14th lowest of 38 countries, against an OECD average of 25.1%.
Income tax and employee social security take 23.5% of pay at the average wage, 18.9% at two-thirds of it and 29.7% at 1.67 times it. Including employer contributions, the total tax wedge is 41.4% of labour costs.
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Pay Rises in Spain: 2027 Forecast
Employers in Spain expect to raise salaries by 3.2% in 2027 (median of the major pay surveys), after 3.2% in 2026. With inflation at 5.0% (Sep), that is a real cut of about 1.7 points unless inflation falls.
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Mortgage Rates in Spain (2026)
The typical mortgage rate in Spain is 3.04% (new home loans, August 2026), 7th lowest of 31 countries; the euro area average is 3.6%.
Up 0.29 points since February 2026 (2.75%). Monthly payment per €100,000 over 25 years: €476.
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Electricity Prices in Spain
Households in Spain pay about €0.251 per kWh of electricity (about $0.28), 13th most expensive of 33 countries; the EU average is €0.283. Change: −6.0% vs late 2025.
Household gas: €0.079 per kWh. Typical household using 2,500–5,000 kWh a year, all taxes included, January–June 2026.
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Petrol Prices in Spain Since the Iran War
Petrol in Spain costs €1.78/L (week of 19 October 2026), up 21% from €1.47/L in the week before the Iran war began. It peaked at €1.94/L (28 Sep). At about $1.99 a litre it is 9th cheapest of 29 countries, and the rise is 8th smallest of 29 countries.
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Retirement Age in Spain
The state pension age in Spain is 66 y 10 m for people reaching it in 2026; the earliest you can claim is 65 with 38 y 3 m of contributions. Future change: 67 in 2027. Workers with long contribution records can retire at 65 on a full pension.
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How Much the State Pension Pays in Spain
A full-career average earner in Spain can expect a mandatory pension worth about 86.3% of their previous net pay, 10th most generous of 50 countries (OECD average 63.2%). Low earner (half the average wage): 79%. High earner (twice the average): 58%.
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How Much of Your Money Is Protected in Spain
Bank deposits in Spain are protected up to €100,000 per depositor, per bank (about $111,900), the limit set by EU law for every member state. Harmonised by EU law; local-currency equivalent outside the euro. Money in payment apps and e-money wallets is usually not covered.
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Inheritance Tax in Spain
Spain has inheritance tax (regional). Children can receive From about €16,000; most regions much higher tax-free, and the top rate for children is 34%, 6th highest of 28 countries. State scale 7.65% to 34%, but regions such as Madrid and Andalusia give 99% relief to children and spouses.
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Retiring to Spain From Abroad
Foreign retirees usually move to Spain on the Non-lucrative visa, which requires €2,400 a month (+€600 per dependant) (about $2,690 a month). Prices are about 64% of US levels, so $2,000 buys roughly what $3,140 would in the US. Residents taxed on worldwide income, including pensions; wealth taxes in some regions.
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Spain vs Greece, Italy and Portugal
The same measures for Spain and its nearest neighbours in our data, side by side.
| Measure | Spain | Greece | Italy | Portugal |
|---|---|---|---|---|
| Minimum wage | €1,425/month (≈ $1,595/month) | €1,073/month (≈ $1,201/month) | None by law (collective agreements) | €1,073/month (≈ $1,201/month) |
| Tax on an average wage | 23.5% (keeps 76%) | 26.1% (keeps 74%) | 28.6% (keeps 71%) | 24.9% (keeps 75%) |
| Pay rise forecast 2027 | 3.2% (inflation 5.0%) | — | 3.4% (inflation 4.1%) | — |
| Mortgage rate | 3.04% (new home loans, August 2026) | 3.3% (new home loans, August 2026) | 3.58% (new home loans, August 2026) | 3.03% (new home loans, August 2026) |
| Electricity (household) | €0.251/kWh (≈ $0.28) | €0.240/kWh (≈ $0.27) | €0.314/kWh (≈ $0.35) | €0.237/kWh (≈ $0.27) |
| Petrol price | €1.78/L (+21% since Feb) | €2.19/L (+26.1% since Feb) | €2.02/L (+21.8% since Feb) | €2.10/L (+24.5% since Feb) |
| State pension age | 66 y 10 m | 67 | 67 | 66 y 9 m |
| Pension (share of pay) | 86.3% of net pay | 88.5% of net pay | 79% of net pay | 92.7% of net pay |
| Bank deposit protection | €100,000 per person, per bank | €100,000 per person, per bank | €100,000 per person, per bank | €100,000 per person, per bank |
| Inheritance tax (children) | top rate 34% | — | top rate 4% | None |
| Retirement visa income | €2,400 a month (+€600 per dependant) | About €3,500 a month | No fixed figure (often about €31,000 a year) | €920 a month (+50% spouse) |
Compare Spain With Other Countries
See every country side by side in Compare Countries 2026: Wages, Tax, Mortgages and Pensions, or compare Spain with nearby countries in our data: Greece, Italy, Portugal and France.
Related Guides
Figures checked against the official sources listed in each linked guide in October 2026. Exchange-rate conversions are approximate. This page is for information and isn't financial or legal advice.
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