Cost Of Living in Bilbao 2025

cost of living chart - average monthly expenditure in Bilbao

Average monthly spending for singles, couples, students, and families in Bilbao

Whether you're living in Bilbao or planning to move there, it is very important to know the cost of living and the prices of things. Here we list the average spending for the four main population groups.

Average Monthly Expenditure

Currency: EUR
220 2,900 29,000
MINIMUM AVERAGE MAXIMUM
$240 $3,100 $31,000

Monthly Expenditure ▶ Single

Currency: EUR
280 2,000 13,000
MINIMUM AVERAGE MAXIMUM
$300 $2,100 $14,000

Monthly Expenditure ▶ Couple

Currency: EUR
1,100 3,300 18,000
MINIMUM AVERAGE MAXIMUM
$1,200 $3,600 $19,000

Monthly Expenditure ▶ Family

Currency: EUR
1,500 4,400 29,000
MINIMUM AVERAGE MAXIMUM
$1,700 $4,800 $31,000

Monthly Expenditure ▶ Student

Currency: EUR
220 1,400 9,500
MINIMUM AVERAGE MAXIMUM
$240 $1,500 $10,000
The figures displayed here are inclusive of everything: housing, travel, groceries, healthcare, etc.

Singles

The average monthly expense for a single person living in Bilbao is 2,000 EUR. Expenses can range from 280 EUR at the minimum level to 13,000 EUR at the highest end.


Couples

The average monthly spending of couples in Bilbao is 3,300 EUR. Expenditure can range from 1,100 EUR to 18,000 EUR per month.


Families

The average cost of living for families in Bilbao is 4,400 EUR per month. Families spend anywhere from 1,500 EUR to 29,000 EUR.


Students

The average monthly expenditure for students in Bilbao is 1,400 EUR. Students spend from 220 EUR to 9,500 EUR per month.


Spending behavior can change drastically from one person to another. It is best to consider the minimum, average, and maximum spending together.



Prices and cost of goods and services in Bilbao


Chart showing the prices and cost of grocery, food, restaurant meals, market, and beverages in Bilbao

Dining, food, and beverages costs


Fast food combo meal

3.3 EUR 6.6 EUR 11 EUR
MINIMUM AVERAGE MAXIMUM
$3.6 $7.2 $12

Restaurant meal for one

11 EUR 16 EUR 32 EUR
MINIMUM AVERAGE MAXIMUM
$12 $17 $35

Fine dining meal for one

21 EUR 32 EUR 130 EUR
MINIMUM AVERAGE MAXIMUM
$23 $35 $140

Cappuccino or latte

2.8 EUR 4.4 EUR 6.6 EUR
MINIMUM AVERAGE MAXIMUM
$3 $4.8 $7.2

Grocery and market costs


Milk large bottle

2.2 EUR 2.7 EUR 3.3 EUR
MINIMUM AVERAGE MAXIMUM
$2.4 $2.9 $3.6

12 eggs

1.7 EUR 2.2 EUR 3.3 EUR
MINIMUM AVERAGE MAXIMUM
$1.8 $2.4 $3.6

Fresh whole chicken

3.8 EUR 4.9 EUR 6.9 EUR
MINIMUM AVERAGE MAXIMUM
$4.1 $5.3 $7.5

Pack of beef

4.4 EUR 6.6 EUR 13 EUR
MINIMUM AVERAGE MAXIMUM
$4.8 $7.2 $14

Medium bag of rice

1.8 EUR 2.4 EUR 3.5 EUR
MINIMUM AVERAGE MAXIMUM
$1.9 $2.7 $3.8

Bag of tomatos

0.67 EUR 0.89 EUR 1.7 EUR
MINIMUM AVERAGE MAXIMUM
$0.72 $0.96 $1.8

Bag of apples

1.2 EUR 1.6 EUR 2.6 EUR
MINIMUM AVERAGE MAXIMUM
$1.3 $1.7 $2.8
Chart showing the prices and cost of commute, travel, and transportation in Bilbao

Commute, travel, and transportation costs


20 minutes taxi ride

2.7 EUR 3.2 EUR 6.4 EUR
MINIMUM AVERAGE MAXIMUM
$2.9 $3.5 $6.9

Average car full tank

17 EUR 22 EUR 44 EUR
MINIMUM AVERAGE MAXIMUM
$18 $24 $48

Average car 1-day rental

15 EUR 20 EUR 31 EUR
MINIMUM AVERAGE MAXIMUM
$17 $22 $33

Average car price

8,300 EUR 17,000 EUR 22,000 EUR
MINIMUM AVERAGE MAXIMUM
$9,000 $18,000 $24,000

Bus ticket one way

0.51 EUR 0.76 EUR 1.5 EUR
MINIMUM AVERAGE MAXIMUM
$0.55 $0.83 $1.7

Car Service

20 EUR 31 EUR 61 EUR
MINIMUM AVERAGE MAXIMUM
$22 $33 $66
Chart showing the prices and cost of utility, energy, water, and gas for a family in Bilbao

Utility cost (monthly)


Utility Bill - Individual

17 EUR 120 EUR 790 EUR
MINIMUM AVERAGE MAXIMUM
$18 $130 $860

Utility Bill - Couple

44 EUR 150 EUR 970 EUR
MINIMUM AVERAGE MAXIMUM
$48 $160 $1,000

Utility Bill - Family

77 EUR 220 EUR 1,400 EUR
MINIMUM AVERAGE MAXIMUM
$83 $240 $1,500

Internet and cable

17 EUR 33 EUR 44 EUR
MINIMUM AVERAGE MAXIMUM
$18 $36 $48

Mobile phone charges

13 EUR 22 EUR 66 EUR
MINIMUM AVERAGE MAXIMUM
$14 $24 $72

Leisure and activities costs


Movie ticket

8.3 EUR 11 EUR 17 EUR
MINIMUM AVERAGE MAXIMUM
$9 $12 $18

One month gym membership

24 EUR 31 EUR 61 EUR
MINIMUM AVERAGE MAXIMUM
$27 $33 $66
Chart showing the prices and cost of clothing and accessories in Bilbao

Cloths and accessories costs


Pair of jeans or pants

18 EUR 25 EUR 38 EUR
MINIMUM AVERAGE MAXIMUM
$19 $28 $41

Woman dress

17 EUR 23 EUR 76 EUR
MINIMUM AVERAGE MAXIMUM
$18 $25 $83

Woman shoes

16 EUR 22 EUR 51 EUR
MINIMUM AVERAGE MAXIMUM
$17 $24 $55

Men's shoes

14 EUR 17 EUR 34 EUR
MINIMUM AVERAGE MAXIMUM
$15 $18 $37

Men suit

15 EUR 19 EUR 100 EUR
MINIMUM AVERAGE MAXIMUM
$17 $21 $110

Regular t-shirt

7.6 EUR 10 EUR 31 EUR
MINIMUM AVERAGE MAXIMUM
$8.3 $11 $33
Chart showing the prices and cost of housing, accommodation, and rent in Bilbao

Housing costs / monthly rent


Studio apartment

250 EUR 380 EUR 1,000 EUR
MINIMUM AVERAGE MAXIMUM
$280 $410 $1,100

1-bedroom apartment

380 EUR 610 EUR 1,500 EUR
MINIMUM AVERAGE MAXIMUM
$410 $660 $1,700

2-bedroom apartment

510 EUR 760 EUR 2,000 EUR
MINIMUM AVERAGE MAXIMUM
$550 $830 $2,200

Housing costs / Buying


Studio apartment

51,000 EUR 76,000 EUR 150,000 EUR
MINIMUM AVERAGE MAXIMUM
$55,000 $83,000 $170,000

1-bedroom apartment

61,000 EUR 100,000 EUR 380,000 EUR
MINIMUM AVERAGE MAXIMUM
$66,000 $110,000 $410,000

2-bedroom apartment

100,000 EUR 310,000 EUR 610,000 EUR
MINIMUM AVERAGE MAXIMUM
$110,000 $330,000 $660,000
Chart showing the prices and cost of furniture in Bilbao

Furniture Costs


King Size Bed

330 EUR 420 EUR 550 EUR
MINIMUM AVERAGE MAXIMUM
$360 $450 $600

Double Bed

220 EUR 330 EUR 420 EUR
MINIMUM AVERAGE MAXIMUM
$240 $360 $450

Single Bed

200 EUR 260 EUR 330 EUR
MINIMUM AVERAGE MAXIMUM
$210 $280 $360

Living Room

370 EUR 470 EUR 1,700 EUR
MINIMUM AVERAGE MAXIMUM
$400 $520 $1,800

Dining Table

170 EUR 220 EUR 420 EUR
MINIMUM AVERAGE MAXIMUM
$180 $240 $450

Sofa or Couch

220 EUR 300 EUR 660 EUR
MINIMUM AVERAGE MAXIMUM
$240 $330 $720
Chart showing the prices and cost of electronic devices and appliances in Bilbao

Electronics and House Appliance Costs


TV Set

220 EUR 330 EUR 660 EUR
MINIMUM AVERAGE MAXIMUM
$240 $360 $720

Fridge or Freezer

200 EUR 300 EUR 420 EUR
MINIMUM AVERAGE MAXIMUM
$210 $330 $450

Washing Machine

260 EUR 370 EUR 660 EUR
MINIMUM AVERAGE MAXIMUM
$280 $400 $720

Stove or Cooker

240 EUR 300 EUR 420 EUR
MINIMUM AVERAGE MAXIMUM
$260 $330 $450

Mobile Phone

280 EUR 330 EUR 470 EUR
MINIMUM AVERAGE MAXIMUM
$300 $360 $520

Laptop or Computer

300 EUR 370 EUR 660 EUR
MINIMUM AVERAGE MAXIMUM
$330 $400 $720

Expenditure to Income Ratio in Bilbao

One of the most definite ways to determine how affordable a place is measuring the ratio of expenses to salary. A high expense-to-income to ratio indicates a high cost-of-living index while a low expenditure-to-salary ratio means the place is affordable to live in.

Cost of living and expenditure to income ratio in Bilbao

Spending to Income Ratio

76%

69% to 84%

( expenditure / income ) x 100


Expense to income distribution levels

Spending To Income Ratio% People
< 50%5%
50% - 60%10%
60% - 70%17%
70% - 80%26%
80% - 90%17%
90% - 100%10%
100% - 110%5%
110% - 120%3%
120% - 130%2%
130% - 140%2%
> 140%1%

Interpretation and Analysis

The average spending-to-salary ratio in Bilbao is 76% This means that on average, people spend around 76% of their income for living. According to the distribution table, 17% of the population spend approximately 60% to 70% of their income every month.


How can spending be more than income?

A value higher than 100% means that the expenditure of those people is higher than their income. They are spending more than what they earn. This is possible in two scenarios. They are either borrowing from their savings to survive or they are borrowing from other sources (relatives, friends, banks, etc.). More about this in the debt section.



Individual
68%
Spending-Income-Ratio
62%
76%

Couple
72%
Spending-Income-Ratio
65%
80%

Family
80%
Spending-Income-Ratio
72%
88%
Distribution of monthly cost of living expenses in Bilbao

How do people spend their money in Bilbao?

We asked thousands of people about their spending habits and expenditure breaks. Below are their answers.

The percentage figures in this section are percentages of total spending not income. If you would like to see the percentage of expenses as related to income or salary, see other sections.

Housing Expenditure25%

25% of total expenses on average (14% to 33%)

LOW$71   66 EUR
AVERAGE$930   860 EUR
HIGH$9,300   8,600 EUR
Per Month

People living in Bilbao typically spend from 14% to 33% of their total monthly expenditure on housing with 25% being the average. The average spend on housing is 860 EUR with expenditure ranging from 66 EUR to 8,600 EUR. This cost mainly goes for rent but it also includes other accommodation-related expenses. Housing costs are highest for families and lowest for students as expected.

Utilities, Electricity, Water, Internet, Mobile7%

7% of total expenses on average (4% to 11%)

LOW$12   11 EUR
AVERAGE$150   140 EUR
HIGH$1,500   1,400 EUR
Per Month

Utility expenditure like electricity, water, and gas in Bilbao ranges from 4% to 11% of total expenses with 7% being the average. The average monthly cost of utilities is 140 EUR with 11 EUR and 1,400 EUR being the upper and lower limits.

Transport, Fuel, Commute8%

8% of total expenses on average (4% to 12%)

LOW$24   22 EUR
AVERAGE$310   290 EUR
HIGH$3,100   2,900 EUR
Per Month

Fuel consumption and cost of transport depend heavily on whether you live near your work or school, but roughly speaking you would expect to spend from 22 EUR to 2,900 EUR on commuting with 290 EUR being the norm for most people in one month. This means that money spent on transport constitutes about 8% of total spending on average but can go as low as 4% or as high as 12%.

Food and Groceries Cost27%

27% of total expenses on average (19% to 33%)

LOW$59   55 EUR
AVERAGE$770   710 EUR
HIGH$7,700   7,100 EUR
Per Month

The average outlay on groceries in a month in Bilbao is 710 EUR. The cost of groceries can range between 55 EUR to 7,100 EUR. People spend on average about 27% on food and groceries with upper and lower bounds of 19% and 33% respectively.

Healthcare and Medical Services9%

9% of total expenses on average (4% to 12%)

LOW$17   15 EUR
AVERAGE$220   200 EUR
HIGH$2,200   2,000 EUR
Per Month

People in Bilbao allocate 4% to 12% of their total monthly expenditure to healthcare including health insurance and out-of-pocket medical expenses. The average spending is around 9%. The range of medical expenses range from 15 EUR to 2,000 EUR with 200 EUR being the norm.

Leisure and Shopping5%

5% of total expenses on average (3% to 9%)

LOW$9.5   8.8 EUR
AVERAGE$120   110 EUR
HIGH$1,200   1,100 EUR
Per Month

This category mostly contains discretionary or non-essential expenses but also some non-discretionary spending like furniture for example. The monthly expenses range from 8.8 EUR to 1,100 EUR with 110 EUR being the average. Speaking of percentages, that equates to 3% to 9% of total expenses with an average of 5% for most residents.

Education and Schooling6%

6% of total expenses on average (4% to 12%)

LOW$14   13 EUR
AVERAGE$190   170 EUR
HIGH$1,900   1,700 EUR
Per Month

Spending on education can vary drastically between different people. While working singles can spend 0% on education, families and students' expenditure can reach up to 22%. On average, education constitutes 6% of the monthly expenditure with 4% and 12% being the lower and upper bounds respectively. The average reported education cost is 170 EUR per month with 13 EUR being the minimum spent amount and 1,700 EUR being the maximum.

Other Expenses13%

13% of total expenses on average (8% to 20%)

LOW$31   29 EUR
AVERAGE$400   370 EUR
HIGH$4,000   3,700 EUR
Per Month
Percentage of people who manage to save money from their income every month in Bilbao

How much money can you save in Bilbao every month?

We asked thousands of people what percentage of their income can they save in a month. Below are the answers.


What percentage of people in Bilbao manage to save money from their income every month?


Saving Money
63%
Not Saving
37%

Almost 63% of the surveyed people in Bilbao said that they can save some money at the end of each month while 37% said that aren't saving anything.


Percentage of people saving money by population group in Bilbao

GroupSaversNon Savers
Singles64%36%
Couples60%40%
Families55%45%

Savings-to-Income Ratio

The savings-to-income ratio is measured as the percentage of income that people save over a specific period and it is simply calculated by dividing the saved money by total income and then multiplying the result by 100. (Savings / Income) x 100.


Savings to income ratio in Bilbao

Saving to Income Ratio

8.1% 15% of income 26%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

86 EUR
$93
1,100 EUR
$1,200
11,000 EUR
$12,000
MINIMUM AVERAGE MAXIMUM

For most people, 8.1% to 26% of their monthly income is what they can allocate to their savings, with 15% being the average. The amount of money that people can save is approximately 1,100 EUR on average with savings ranging from 86 EUR to 11,000 EUR.

64% of surveyed singles reported some of their income going to savings while 60% of couples said the same. 55% of families confirmed their ability to save money.


How much money do people actually save in Bilbao?

The amount of money that people can afford to save depends hugely on their income. It is better to focus on the percentage when trying to understand saving patterns.


Singles

Saving to Income Ratio

11% 19% of income 28%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

86 EUR
$93
770 EUR
$840
5,200 EUR
$5,600
MINIMUM AVERAGE MAXIMUM

Savings to income distribution levels for singles

Saving To Income Ratio% Singles
0% - 10%30%
10% - 20%24%
20% - 30%16%
30% - 40%15%
40% - 50%11%
> 50%4%

Interpretation and Analysis

Singles who can afford to save reported that they allocate from 11% to 28% of their monthly income to savings, with 19% being the average for most singles. The average amount of money that singles are able to save is 770 EUR with 86 EUR and 5,200 EUR being the minimum and maximum respectively.


Couples

Saving to Income Ratio

9.1% 17% of income 27%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

430 EUR
$470
1,300 EUR
$1,400
6,900 EUR
$7,500
MINIMUM AVERAGE MAXIMUM

Savings to income distribution levels for couples

Saving To Income Ratio% Couples
0% - 10%34%
10% - 20%26%
20% - 30%19%
30% - 40%10%
40% - 50%8%
> 50%3%

Interpretation and Analysis

Couples who confirmed their ability to save reported saving equivalent to 9.1% to 27% of their monthly income, with 17% being the average for most couples. The average amount of money that couples can save is 1,300 EUR with 430 EUR and 6,900 EUR being the minimum and maximum respectively.


Families

Saving to Income Ratio

8.1% 15% of income 24%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

600 EUR
$650
1,700 EUR
$1,900
11,000 EUR
$12,000
MINIMUM AVERAGE MAXIMUM

Savings to income distribution levels for families

Saving To Income Ratio% Families
0% - 10%37%
10% - 20%29%
20% - 30%20%
30% - 40%7%
40% - 50%5%
> 50%2%

Interpretation and Analysis

Families in Bilbao can save anywhere between 8.1% to 24% of their monthly income, with 15% being the average for most families. The average amount of money that families can put aside is 1,700 EUR with 600 EUR and 11,000 EUR being the minimum and maximum respectively.

Reasons that make it difficult for people to save money in Bilbao

Saving Challenges in Bilbao

Reasons that make it difficult for people to save money

We wanted to understand what is stopping people from maximizing their savings in Bilbao. Listed below are the answers given by the survey participants.


Reason% People
Low Income6%
High Expenses9%
Debt and Loans16%
Lack of Budgeting Skills11%
Impulsive Spending10%
Financial Emergencies6%
Living the moment6%
Will do it later18%
Inflation12%
Social Pressure3%
Market Instability3%

Around 6% of the people said that their salary is too low to accommodate a portion for savings while 9% said that the high cost of living leaves little room for savings. 16% of the residents said that they are burdened with debt and find it challenging to save money. 11% reported that they just don't have the knowledge or discipline to create and stick to a budget, leading to overspending and an inability to save. 10% blamed impulsive spending as the reason for saving inability. Around 6% said that unexpected expenses like medical bills or car repairs are derailing their savings goals. 6% bluntly said that they don't see the purpose of it and prefer to live each day to the fullest. 18% reported that they understand the value of saving but are putting off saving for the future, thinking they have plenty of time to start later. 12% blamed inflation, saying that every time they save some money they end up using it immediately. A surprising 3% said that social pressure and keeping up with peers or social expectations makes them overspend. Lastly, 3% blamed market instability and price fluctuations.

Where do people choose to put their savings in Bilbao

Typical saving choices for people in Bilbao

Where do people choose to put their savings?


Saving Type% People
Emergency Funds11%
Gold11%
Savings Accounts17%
Retirement Accounts11%
Cash Savings18%
Real Estate10%
Investment6%
Stocks5%
Bonds6%
Mutual Funds3%
Certificates of Deposit3%
A typical and healthy budgeting structure. The 50-30-20 rule

A typical and healthy budgeting structure

The 50/30/20 rule

Spending among different people can vary significantly based on factors such as their income, lifestyle, location, and personal preferences. A commonly used guideline for budgeting is the 50/30/20 rule, which suggests allocating your income into three main categories in the following percentages.

  • 50% for needs and financial obligations

    This category includes essential expenses like housing, utilities, groceries, transportation, and healthcare.

  • 30% for wants and discretionary spending

    This category covers discretionary spending on non-essential items, such as dining out, entertainment, travel, and other lifestyle choices.

  • 20% for savings and emergency fund

    This is the percentage that must be allocated to savings, emergency funds, and retirement accounts.

About financial planning, money management, and household budgeting

The 50/30/20 rule is used as a general guideline but may not be the best choice for all people. There are in fact many budgeting plans out there like the 70/20/10 and the 60/20/20 rules, all claiming to be the best. More important than all of this is to establish financial discipline by creating a budget tailored to your specific financial goals and situation. It is very important that your financial outflow be less than your income to maintain a healthy cash flow.

Income and cost of living compatibility. Is it affordable or economical to live in Bilbao

Affordable living in Bilbao

Income and cost of living compatibility

We asked residents one simple question and recorded their answers.

Is it affordable or economical to live in Bilbao?


Yes
68%
No
32%

Around 68% of surveyed residents think that living in Bilbao is affordable with proper budgeting while 32% reported that it is just too expensive and not affordable even with frugality and thriftness.

How easily is cost-cutting. Are there plenty of low-cost options in Bilbao

Low-cost alternatives in Bilbao

People are always looking for ways to cut down expenses and reduce expenditures. The hallmark of any affordable place is the availability of discount stores, bargain deals, smart or secondhand shopping, refurbished items, and couponing. We asked residents how easily cost-cutting is and the answers were distributed as follows:

Plenty of low-cost options56%

Few low-cost options44%


Based on the survey, 56% of the people living in Bilbao have no problem finding low-cost alternatives to support a frugal lifestyle while 44% think that thriftness is difficult due to scarcity in discount markets and secondhand outlets.

Emergency Funds

An emergency fund is a financial safety net comprised of easily accessible savings set aside to cover unexpected expenses or financial emergencies, typically amounting to three to six months' worth of living expenses. We asked residents of Bilbao whether they have an emergency fund and the answers were as follows.

Yes68%

No32%


Based on the survey, 32% of the people living in Bilbao said that they don't have an emergency fund while 68% said that they do.

Financial literacy and difficulty in budgeting and financial planning in Bilbao

Financial Literacy in Spain

Financial literacy is the knowledge of concepts and principles related to personal finance that allow individuals to make informed decisions regarding their money such as budgeting, saving, investing, borrowing, managing debt, financial risk management, and planning.

Financial Leteracy70%


We asked residents of Spain whether they acquired any adequate personal financial training in their lives. Approximately 30% of the people who participated in the survey said that they are not well informed about the topics of budgeting, saving, etc., and just manage things based on their own experience, while 70% said that they know about the general principles of personal finance from sources other than their own experience.


Difficulty in Budgeting and Financial Planning

We wanted to understand whether residents of Spain have problems or difficulties in managing their expenditures and savings so we asked people one simple question: do you struggle with your personal finances? 21% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 79% said that they have everything under control.

Struggles with finance21%

Easily manages finances79%

Financial goals and targets of people living in Bilbao

Financial goals of people in Bilbao

In an attempt to understand the economic situation in Bilbao, we asked participants about their financial targets. By knowing what the population in general is trying to achieve, we can shed light on the economic outlook, cost of living, and quality of life in general.


Financial Goal% People
Emergency Fund7%
Debt Reduction37%
Retirement Savings9%
Education Funding8%
Homeownership17%
Investing8%
Travel or Lifestyle9%
Healthcare Expenses11%
Financial Independence7%

Around 7% of those who participated in the survey said that their main goal is to establish an emergency fund to cover unexpected expenses while 37% said their number one priority is to pay off high-interest debt or loans and improve credit. 9% of surveyed people confirmed that saving for retirement to ensure a comfortable lifestyle in the final years is their main target. Around 8% reported that their priority is saving for the tuition fees and education costs of their children while 17% choose to buy a home or pay off existing mortgage before other things. 8% of the population would like to build wealth through investments such as stocks, bonds, mutual funds, or real estate. For 9% of people, saving for vacations or upgrading their lifestyle is the number one concern. Approximately 11% of the residents said that saving for healthcare expenses including insurance premiums is their main goal.

Retirement, pension plans, and life after work in Bilbao

What does the retirement lifestyle look like in Bilbao and how much retirement savings are required?

Retirement age

The retirement age for most employees in Spain is 65 years. Specific retirement ages can vary based on factors like occupation, gender, years of contribution, and location. It is not entirely unlikely for people to retire either before or after this age.

Retirement planning and savings

There are many retirement saving options, some are personally initiated and others are government-sponsered. Regardless of the source of savings, the minimum amount of money that needs to be put aside to ensure a peaceful and comfortable retirement at each age can be found in the table below. This data is largely approximated and can vary drastically based on individual needs and situations. Treat these figures as a general guideline.


The typical saved amount of money you should have at every age as multiples of monthly salary:
AgeAmount
255x monthly salary at age 25
3010x monthly salary at age 30
3515x monthly salary at age 35
4025x monthly salary at age 40
4532x monthly salary at age 45
5048x monthly salary at age 50
5556x monthly salary at age 55
6064x monthly salary at age 60
6578x monthly salary at age 65

The typical average saved amount of money you should have at every age in Bilbao:
AgeAmount
257,900 EUR
3016,000 EUR
3528,000 EUR
4040,000 EUR
4560,000 EUR
5083,000 EUR
5599,000 EUR
60120,000 EUR
65150,000 EUR

Retirement Income Distribution

We asked residents of Bilbao about their retirement income sources and below are the results.

Source% People
Pensions13%
Savings22%
Investments13%
Social Security8%
Annuities8%
Part-time Job12%
Real Estate17%
Dividends and Interest8%

Retirement Monthly Expenses in Bilbao

160 EUR
$170
1,400 EUR
$1,500
9,500 EUR
$10,000
MINIMUM AVERAGE MAXIMUM
Chart showing the percentage of people who are in debt in Bilbao

Debt, loans, and mortgages in Bilbao


Percentage of people who are in debt


In Debt
21%
Debt Free
79%

According to the survey, 21% of the people in Bilbao have some kind of debt, loan, mortgage, or credit card payments while 79% reported that they don't have financial obligations to banks.


Chart showing debt-to-income ratio in Bilbao

Debt-to-income ratio in Bilbao

Debt to income ratio

26%

18% to 34%

( monthly debt payment / monthly income ) x 100

Interpretation

The debt-to-income ratio measures the percentage of income being paid as debt settlement across the population. It is calculated by dividing the monthly debt settlement payment of an individual by their monthly income. Based on collected data, approximately 26% of the people's monthly income in Bilbao goes to debt settlement.


Debt levels

Monthly debt settlement payment as percentage of monthly income

Debt-to-income ratio% People
> 60%3%
50% - 60%14%
40% - 50%13%
30% - 40%15%
20% - 30%13%
10% - 20%16%
0% - 10%27%

According to our data, 3% of the debtors in Bilbao pay 60%+ of their income as debt settlement while 14% of the people pay 50% to 60% of their income for the same, which is quite an alarming financial situation for those individuals. 13% of people in debt dedicate 40% to 50% of their income to loan and mortgage payments while 15% dedicated 30% to 40% of income for same. Things are looking brighter for 13% of individuals as they only pay 20% to 30% of their income for loan and credit card repayment.


Distribution by type of debt in Bilbao

Debt% People
Real Estate Mortgage11%
Auto Loan20%
Student Loan3%
Credit Card27%
Personal Loan39%

11% of debtors in Bilbao confirm that real estate mortgages constitutes the main part of their outstanding debt while 27% say that credit card payments are the reason they are in debt. Auto loans were the main type of debt for 20% of people and personal loans rose at 39%. Lastly, student loans are the main source of debt for 3% of debtors in Bilbao.


About credit score and debt management

Managing debt is a critical aspect of maintaining a favorable credit score. Debt reduction is the first thing you should do improve your financial situation. Getting rid of debt takes precedence over saving money because of interest rates.

Good debt vs. Bad debt

Not all debt is bad. Good debt typically refers to borrowing money for investments that can increase in value or generate income over time like purchasing a home or acquiring student loans. On the other hand, bad debt involves borrowing for things that fail to generate lasting value like high-interest credit card debt used for non-essential expenses like luxury items or vacations.


Loan Affordability Index in Bilbao

Besides measuring the loan-to-income ratio, we asked residents of Bilbao how many times in a year they defaulted or were unable to pay their due credit card or loan payments on time. Understanding how often people default on their due payments is one of the indicators of the cost of living and economic situation.

Frequency and percentage of people who failed to pay their monthly credit card or loan payments on time last year.

Frequency% People
Never53%
Once a year23%
Twice a year12%
Three times a year8%
Four times a year4%
Housing and accommodation affordability, property price to income ratio, rent to income ratio, and housing affordability index chart in Bilbao

Housing costs, accommodation, and housing affordability in Bilbao

Rental costs and house/apartment prices can vary drastically between different areas and locations.


Rent Cost in Bilbao

Monthly Rent Prices

Studio apartment monthly rent cost

250 EUR 380 EUR 1,000 EUR
MINIMUM AVERAGE MAXIMUM
$280 $410 $1,100

1-bedroom apartment monthly rent cost

380 EUR 610 EUR 1,500 EUR
MINIMUM AVERAGE MAXIMUM
$410 $660 $1,700

2-bedroom apartment monthly rent cost

510 EUR 760 EUR 2,000 EUR
MINIMUM AVERAGE MAXIMUM
$550 $830 $2,200

3-bedroom apartment monthly rent cost

610 EUR 1,000 EUR 2,800 EUR
MINIMUM AVERAGE MAXIMUM
$660 $1,100 $3,000

Furnished apartment monthly rent cost

1,200 EUR 3,100 EUR 6,100 EUR
MINIMUM AVERAGE MAXIMUM
$1,300 $3,300 $6,600

Townhouse monthly rent cost

1,000 EUR 1,500 EUR 4,400 EUR
MINIMUM AVERAGE MAXIMUM
$1,100 $1,700 $4,700

House monthly rent cost

1,200 EUR 3,100 EUR 6,100 EUR
MINIMUM AVERAGE MAXIMUM
$1,300 $3,300 $6,600

Villa monthly rent cost

1,500 EUR 3,800 EUR 6,100 EUR
MINIMUM AVERAGE MAXIMUM
$1,700 $4,100 $6,600

The monthly rental cost of a studio apartment in Bilbao ranges between 250 EUR and 1,000 EUR, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 380 EUR to 1,500 EUR. Two-bedroom rentals rate ranges between 510 EUR and 2,000 EUR per month. The monthly rental for a three-bedroom apartment ranges from 610 EUR to 2,800 EUR. The average rent of a townhouse in Bilbao is around 1,500 EUR while house rental costs can be as high as 3,100 EUR per month. Finally, if you want to rent a villa, expect to pay anywhere from 1,500 EUR to 6,100 EUR per month.



Apartment and house prices in Bilbao

Cost of buying a property

Studio apartment price

51,000 EUR 76,000 EUR 150,000 EUR
MINIMUM AVERAGE MAXIMUM
$55,000 $83,000 $170,000

1-bedroom apartment price

61,000 EUR 100,000 EUR 380,000 EUR
MINIMUM AVERAGE MAXIMUM
$66,000 $110,000 $410,000

2-bedroom apartment price

100,000 EUR 310,000 EUR 610,000 EUR
MINIMUM AVERAGE MAXIMUM
$110,000 $330,000 $660,000

3-bedroom apartment price

340,000 EUR 510,000 EUR 1.5M EUR
MINIMUM AVERAGE MAXIMUM
$370,000 $550,000 $1.7M

Townhouse price

440,000 EUR 1M EUR 3.8M EUR
MINIMUM AVERAGE MAXIMUM
$470,000 $1.1M $4.1M

House price

510,000 EUR 3.1M EUR 4.4M EUR
MINIMUM AVERAGE MAXIMUM
$550,000 $3.3M $4.7M

Villa price

610,000 EUR 3.4M EUR 5.1M EUR
MINIMUM AVERAGE MAXIMUM
$660,000 $3.7M $5.5M

The average price of a studio apartment in Bilbao can range from 51,000 EUR to 150,000 EUR depending on location. One bedroom cost can be anywhere from 61,000 EUR to 380,000 EUR. A villa can cost you 3.4M EUR on average with prices ranging from 610,000 EUR to 5.1M EUR.


If you're leasing or purchasing, housing costs in Bilbao will probably constitute your biggest expenditure, yet it's an area where you wield considerable influence. This is due to the substantial variance in housing prices across communities. Keep in mind the location of your workplace and the accessibility of essential amenities to prevent negating the savings from lower rental rates with increased transportation expenses.

House / apartment prices to income ratio


Property price to income ratio

( average property price / average monthly income ) x 100


35 x102 monthly income 188
MINIMUM AVERAGE MAXIMUM

Property prices in Bilbao can be x102 to x188 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x102 multiples of the average monthly salary in Bilbao.



Rent to income ratio


Rent to income ratio

( monthly rental / monthly income ) x 100


19% 28% of income 37%
MINIMUM AVERAGE MAXIMUM

The average rent-to-income ratio in Bilbao is around 28%. This means that people pay 28% of their income for rent. Those figures can range from 19% to 37% depending on the salary, location, and type of property.


The housing-to-income ratio is a very important metric to evaluate and measure how affordable living is in a particular area, city, or country since housing comprises the biggest chunk of expenditure. A higher housing to income ratio means that the place is relatively expensive. The figure by itself does tell much. It only starts to make sense when comparing the housing to income ratio across different locations.

Housing affordability index

The housing affordability index measures how affordable accommodation is in a particular place. This can measured in multiple ways, the most common being housing expenditure to total expenditure ratio and the rent to income ratio. The housing expenditure ratio is a figure reported by individuals on the percentage they allocate for housing. Rent to income ratio is calculated by dividing the average monthly rent by the average income. Because these values are both percentages, we can find their average and get the best of the two worlds.

Housing Affordability Index
26%

Property Taxes

Real estate owners pay property taxes to local tax authorities, which are determined by the assessed value of their property. Typically, these taxes are paid once a year. Property tax funds contribute to community development, financing infrastructure improvements, public services, and local education initiatives.


FROM
2.1%
AVERAGE
3.1%
TO
4%

Home Maintenance Costs

Home maintenance costs encompass various expenses associated with the upkeep and repair of a residence. These expenditures include regular tasks such as lawn care, pest control, and HVAC system servicing, as well as occasional repairs and renovations like fixing leaks, painting, or replacing appliances.


4.4 EUR 57 EUR 570 EUR
MINIMUM AVERAGE MAXIMUM

Urban vs. rural living costs

Urban living typically entails higher housing and transportation costs due to demand and limited space, while rural areas generally offer lower housing expenses but may have higher prices for goods and services. The differnce in rental rates between urban areas and rural areas can be as high as 300% in some cases.

Monthly costs and expenses of energy and basic utilities in Bilbao

Utilities expenditure can vary slightly between different areas and locations.


Energy, electricity, water, gas, internet, and mobile cost in Bilbao

Utility Bill Cost / Electricity + Water + Gas / Individual

17 EUR 120 EUR 790 EUR
MINIMUM AVERAGE MAXIMUM
$18 $130 $860

Utility Bill Cost / Electricity + Water + Gas / Couple

44 EUR 150 EUR 970 EUR
MINIMUM AVERAGE MAXIMUM
$48 $160 $1,000

Utility Bill Cost / Electricity + Water + Gas / Family

77 EUR 220 EUR 1,400 EUR
MINIMUM AVERAGE MAXIMUM
$83 $240 $1,500

Internet and cable cost

17 EUR 33 EUR 44 EUR
MINIMUM AVERAGE MAXIMUM
$18 $36 $48

Mobile phone bill and charges

13 EUR 22 EUR 66 EUR
MINIMUM AVERAGE MAXIMUM
$14 $24 $72

Because most utility bills club electricity, water, and gas costs in one bill, we can't provide a breakup for each type of utility and will display electricity, gas, and water as single cost.


The average monthly expenditure for individuals on electricty, water, and gas in Bilbao ranges between 17 EUR and 790 EUR with average being 120 EUR, meanwhile the expenditure of couples is slightly higher at 150 EUR with 44 EUR and 970 EUR being the upper and lower limits respectively. As expected, the energy and water consumption of families is the highest among the three groups with an average of 220 EUR. The cost of internet and WiFi is unchanged among the three groups and ranges from 17 EUR to 44 EUR with 33 EUR being the average internet bill. Finally, the average monthly mobile charges is around 22 EUR but can range between 13 EUR and 66 EUR depending on consumption. Mobile charges include both calling minutes as well as data packages.


Energy / Utility expense to income ratio


( monthly utility expenses / monthly income ) x 100


1.8% 4.5% of income 8.1%
MINIMUM AVERAGE MAXIMUM

The average utility-to-income ratio in Bilbao is around 4.5%. This means that people pay 4.5% of their income for energy, water, internet, and mobile charges. Those figures can range from 1.8% to 8.1% depending on salary and location.

Food Prices, Dining Expenses, and Grocery Costs in Bilbao

Grocery / Food expenditure and prices can vary drastically between different areas and locations.


Prices and cost of goods and services in Bilbao

Dining out, food, and beverages costs. Price variations for common food items.

Fast food combo meal price

3.3 EUR 6.6 EUR 11 EUR
MINIMUM AVERAGE MAXIMUM
$3.6 $7.2 $12

The average price of a regular combo meal at a fast food outlet or chain like McDonald's, Pizzahut, or KFC in Bilbao is approximatly 6.6 EUR with meal cost ranging from 3.3 EUR to 11 EUR. The typical combo meal consists of a burger, french fries, and a drink.

Restaurant meal for one price

11 EUR 16 EUR 32 EUR
MINIMUM AVERAGE MAXIMUM
$12 $17 $35

If you are planning to have a nice meal at a mid-range restaurant, expect to pay anywhere between 11 EUR and 32 EUR with 16 EUR being the average price of a plate for one person at a regular restaurant in Bilbao.

Fine dining meal for one price

21 EUR 32 EUR 130 EUR
MINIMUM AVERAGE MAXIMUM
$23 $35 $140

The price range of a meal at fine-dining restaurant is 21 EUR to 130 EUR with the average cost being 32 EUR for one person. This is what you would expect to pay a top-tier diner in Bilbao.

Beverage prices, cappuccino, latte etc..

2.8 EUR 4.4 EUR 6.6 EUR
MINIMUM AVERAGE MAXIMUM
$3 $4.8 $7.2

The average price of a regular beverage like cappuccino or latte at Starbucks, Costa, or similar coffee shops and cafes in Bilbao is around 4.4 EUR. Price ranges between 2.8 EUR and 6.6 EUR depending on the type of beverage, the size, and optional add-ons.



Grocery and market costs

Large bottle of milk price

2.2 EUR 2.7 EUR 3.3 EUR
MINIMUM AVERAGE MAXIMUM
$2.4 $2.9 $3.6

The average price of a large bottle of milk in Bilbao is 2.7 EUR. The maximum what you would pay for milk is 3.3 EUR and the minimum being 2.2 EUR depending on the brand of milk and other properties.

12 eggs price

1.7 EUR 2.2 EUR 3.3 EUR
MINIMUM AVERAGE MAXIMUM
$1.8 $2.4 $3.6

A dozen eggs costs around 2.2 EUR on average with 1.7 EUR and 3.3 EUR being the lower and upper limits respectively.

Fresh whole chicken price

3.8 EUR 4.9 EUR 6.9 EUR
MINIMUM AVERAGE MAXIMUM
$4.1 $5.3 $7.5

The price range of a fresh whole chicken in Bilbao is between 3.8 EUR and 6.9 EUR depending on the size of the chicken and whether it is oraganic or not. The average price is approximatly 4.9 EUR.

Pack of beef price

4.4 EUR 6.6 EUR 13 EUR
MINIMUM AVERAGE MAXIMUM
$4.8 $7.2 $14

The price of a regular pack of beef or meat is around 6.6 EUR. A pack of beef contains around 1Kg or 1lb depending on packing.

Medium bag of rice price

1.8 EUR 2.4 EUR 3.5 EUR
MINIMUM AVERAGE MAXIMUM
$1.9 $2.7 $3.8

A bag of rice in Bilbao costs around 2.4 EUR on average with prices rangeing between 1.8 EUR and 3.5 EUR depending on the brand and quality.

Bag of tomatos price

0.67 EUR 0.89 EUR 1.7 EUR
MINIMUM AVERAGE MAXIMUM
$0.72 $0.96 $1.8

A bag of tomatoes costs anywhere from 0.67 EUR to 1.7 EUR. A bag of tomatoes denotes 1Kg or 1lb depending on location.

Bag of apples price

1.2 EUR 1.6 EUR 2.6 EUR
MINIMUM AVERAGE MAXIMUM
$1.3 $1.7 $2.8

A bag of apples costs 1.6 EUR on average. A bag of apples denotes 1Kg or 1lb depending on location.


Grocery and food expenditure to income ratio


( monthly grocery expenses / monthly income ) x 100


16% 24% of income 29%
MINIMUM AVERAGE MAXIMUM

The average grocery-to-income ratio in Bilbao is around 24%. This means that people spend 24% of their income on grocery and basic household items. The expenditure can range from 16% to 29% depending on salary and location.


Expenditure on food and grocery for every population group

A single person living alone spends approximately 320 EUR per month on grocery and food with expenditure fluctuating between 45 EUR and 2,100 EUR depending on location and the type of person. The average cost of food and groceries for a couple is around 460 EUR per month. That number can be get as low as 150 EUR or a high as 2,500 EUR. Families' spending on grocery ranges from 280 EUR to 5,100 EUR with the location, income, and size of the family being the most determinite factors.


Single
Spending habits, consumption analysis, and expenditure patterns for a single person living in Bilbao

Housing cost for a single person31%

31% of total expenses on average (19% to 43%)

LOW$110   100 EUR
AVERAGE$770   710 EUR
HIGH$5,100   4,700 EUR
Per Month

Utilities, Electricity, Water, Internet, Mobile8%

8% of total expenses on average (4% to 13%)

LOW$18   17 EUR
AVERAGE$130   120 EUR
HIGH$860   790 EUR
Per Month

Transport and Fuel Cost6%

6% of total expenses on average (4% to 12%)

LOW$24   22 EUR
AVERAGE$170   160 EUR
HIGH$1,100   1,100 EUR
Per Month

Food and Groceries Cost18%

18% of total expenses on average (12% to 23%)

LOW$49   45 EUR
AVERAGE$340   320 EUR
HIGH$2,300   2,100 EUR
Per Month

Healthcare Cost11%

11% of total expenses on average (5% to 15%)

LOW$27   25 EUR
AVERAGE$190   180 EUR
HIGH$1,300   1,200 EUR
Per Month

Leisure and Shopping Expenditure3%

3% of total expenses on average (3% to 6%)

LOW$15   14 EUR
AVERAGE$110   99 EUR
HIGH$710   660 EUR
Per Month

Education Cost2%

2% of total expenses on average (1% to 4%)

LOW$6.1   5.6 EUR
AVERAGE$43   39 EUR
HIGH$290   260 EUR
Per Month

Other Expenses21%

21% of total expenses on average (13% to 25%)

LOW$55   50 EUR
AVERAGE$390   360 EUR
HIGH$2,600   2,400 EUR
Per Month


Couple
Average monthly living expenditure breaks and spending patterns for couples in Bilbao

Housing cost for a couple28%

28% of total expenses on average (21% to 38%)

LOW$400   370 EUR
AVERAGE$1,200   1,100 EUR
HIGH$6,500   6,000 EUR
Per Month

Utilities, Electricity, Water, Internet, Mobile7%

7% of total expenses on average (5% to 11%)

LOW$48   44 EUR
AVERAGE$160   150 EUR
HIGH$1,000   970 EUR
Per Month

Transport and Fuel Cost10%

10% of total expenses on average (4% to 15%)

LOW$140   130 EUR
AVERAGE$430   390 EUR
HIGH$2,300   2,100 EUR
Per Month

Food and Groceries Cost16%

16% of total expenses on average (11% to 21%)

LOW$170   150 EUR
AVERAGE$500   460 EUR
HIGH$2,700   2,500 EUR
Per Month

Healthcare Cost13%

13% of total expenses on average (7% to 17%)

LOW$130   120 EUR
AVERAGE$390   360 EUR
HIGH$2,100   1,900 EUR
Per Month

Leisure and Shopping Cost4%

4% of total expenses on average (2% to 7%)

LOW$71   66 EUR
AVERAGE$210   200 EUR
HIGH$1,100   1,100 EUR
Per Month

Education Cost2%

2% of total expenses on average (1% to 4%)

LOW$24   22 EUR
AVERAGE$71   66 EUR
HIGH$380   350 EUR
Per Month

Other Expenses20%

20% of total expenses on average (14% to 26%)

LOW$200   190 EUR
AVERAGE$610   560 EUR
HIGH$3,200   3,000 EUR
Per Month


Family
Average monthly expenses and break out of spending for families living in Bilbao

Housing cost for a family27%

27% of total expenses on average (22% to 37%)

LOW$530   490 EUR
AVERAGE$1,500   1,400 EUR
HIGH$9,900   9,100 EUR
Per Month

Utilities, Electricity, Water, Internet, Mobile5%

5% of total expenses on average (3% to 8%)

LOW$83   77 EUR
AVERAGE$240   220 EUR
HIGH$1,500   1,400 EUR
Per Month

Transport and Fuel Expenses6%

6% of total expenses on average (4% to 8%)

LOW$170   150 EUR
AVERAGE$480   440 EUR
HIGH$3,100   2,900 EUR
Per Month

Food and Groceries Cost20%

20% of total expenses on average (13% to 26%)

LOW$300   280 EUR
AVERAGE$860   790 EUR
HIGH$5,600   5,100 EUR
Per Month

Healthcare Expenses10%

10% of total expenses on average (6% to 15%)

LOW$150   140 EUR
AVERAGE$480   440 EUR
HIGH$2,500   2,300 EUR
Per Month

Leisure and Shopping Cost3%

3% of total expenses on average (2% to 7%)

LOW$83   77 EUR
AVERAGE$240   220 EUR
HIGH$1,500   1,400 EUR
Per Month

Education Cost14%

14% of total expenses on average (7% to 22%)

LOW$230   220 EUR
AVERAGE$670   610 EUR
HIGH$4,300   4,000 EUR
Per Month

Other Expenses15%

15% of total expenses on average (8% to 20%)

LOW$130   120 EUR
AVERAGE$380   350 EUR
HIGH$2,500   2,300 EUR
Per Month


Student
Cost of living and expenses break down for students living in Bilbao

Housing costs for Student19%

19% of total expenses on average (14% to 25%)

LOW$57   53 EUR
AVERAGE$370   340 EUR
HIGH$2,500   2,300 EUR
Per Month

Utilities, Electricity, Water, Internet, and Mobile Expenses6%

6% of total expenses on average (4% to 10%)

LOW$9.5   8.8 EUR
AVERAGE$62   57 EUR
HIGH$410   380 EUR
Per Month

Transport and Fuel Cost5%

5% of total expenses on average (5% to 11%)

LOW$17   15 EUR
AVERAGE$110   100 EUR
HIGH$720   670 EUR
Per Month

Food and Groceries Expenditure22%

22% of total expenses on average (16% to 26%)

LOW$48   44 EUR
AVERAGE$310   290 EUR
HIGH$2,100   1,900 EUR
Per Month

Healthcare Cost8%

8% of total expenses on average (5% to 11%)

LOW$14   13 EUR
AVERAGE$93   86 EUR
HIGH$620   570 EUR
Per Month

Leisure and Shopping Cost3%

3% of total expenses on average (2% to 7%)

LOW$12   11 EUR
AVERAGE$77   71 EUR
HIGH$520   480 EUR
Per Month

Education Cost19%

19% of total expenses on average (12% to 24%)

LOW$45   42 EUR
AVERAGE$290   270 EUR
HIGH$2,000   1,800 EUR
Per Month

Other Expenses18%

18% of total expenses on average (12% to 24%)

LOW$36   33 EUR
AVERAGE$230   210 EUR
HIGH$1,500   1,400 EUR
Per Month
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