What are rents like in Basque Country right now? (2026)

If you're wondering how much rent costs in Basque Country in 2026, you're in the right place.

We've gathered the latest data on studio, 1-bedroom, and 2-bedroom rents across Bilbao, San Sebastián, and Vitoria-Gasteiz.

This article is updated regularly to reflect current Basque rental market conditions.

And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Basque Country.

Who is the author of this content?

INVESTROPA

A team specialized in real estate investing in European countries

We are a team of financial experts, legal professionals, developers, and local real estate specialists dedicated to helping people like you avoid mistakes when investing in real estate in a foreign place, particularly in Basque Country. If you’d like to learn more about us, you can check our presentation page.

What are typical rents in Basque Country as of 2026?

What's the average monthly rent for a studio in Basque Country as of 2026?

As of early 2026, the average monthly rent for a studio in Basque Country is around €575 (approximately $605 USD).

Most studios fall within €500 to €650 per month ($525 to $685 USD), depending on location and condition.

The main factors causing studio rents to vary include proximity to central Bilbao or San Sebastián, building age, natural light, and elevator access.

What's the average monthly rent for a 1-bedroom in Basque Country as of 2026?

As of early 2026, the average monthly rent for a 1-bedroom in Basque Country is around €825 (approximately $870 USD).

Most 1-bedroom apartments rent between €700 and €950 per month ($735 to $1,000 USD), with significant variation by city.

In Basque Country, 1-bedroom rents are cheapest in Vitoria-Gasteiz and inland towns, while San Sebastián's Gros or Centro neighborhoods sit at the top.

What's the average monthly rent for a 2-bedroom in Basque Country as of 2026?

As of early 2026, the average monthly rent for a 2-bedroom in Basque Country is around €1,175 (approximately $1,235 USD).

Most 2-bedroom apartments rent between €1,000 and €1,350 per month ($1,050 to $1,420 USD).

The cheapest 2-bedroom rents are in Vitoria-Gasteiz neighborhoods like Zabalgana, while San Sebastián's Centro-Miraconcha and Gros command the highest prices.

By the way, you will find much more detailed rent ranges in our property pack covering the real estate market in Basque Country.

What's the average rent per square meter in Basque Country as of 2026?

As of early 2026, the average rent per square meter in Basque Country is around €13/m² ($13.70 USD/m²), though this depends on whether you look at existing contracts or new listings.

Rent per square meter ranges from €11/m² ($11.55 USD) for contract averages to €15/m² ($15.75 USD) for new listings, with premium San Sebastián neighborhoods exceeding €17/m².

Compared to other Spanish regions, Basque Country sits in the upper tier, similar to Catalonia and Madrid, with San Sebastián rivaling Barcelona's most expensive districts.

Properties with elevators, efficient heating, and outdoor space push rent per square meter well above average, especially in older central buildings.

How much have rents changed year-over-year in Basque Country in 2026?

As of early 2026, rents in Basque Country have increased by approximately 4% to 6% year-over-year, depending on whether you measure contracts or new listings.

Main drivers include tight supply in the three capitals, strong demand from young professionals and international residents, and limited new construction.

This continues the steady upward trend from 2024-2025, though slightly more moderate than the sharper jumps seen in Madrid and Barcelona.

What's the outlook for rent growth in Basque Country in 2026?

As of early 2026, rents in Basque Country are projected to grow by 3% to 6%, with Bilbao and San Sebastián seeing stronger increases than inland areas.

Key factors include continued supply constraints, a high share of single-person households, and steady international migration to the main cities.

Neighborhoods expected to see the strongest growth include San Sebastián's Gros and Centro, Bilbao's Abando and Indautxu, and transit-connected zones.

Risks that could change the outlook include economic slowdowns, changes to rent regulation, or unexpected supply increases from new construction.

Which neighborhoods rent best in Basque Country as of 2026?

Which neighborhoods have the highest rents in Basque Country as of 2026?

As of early 2026, the three neighborhoods with the highest rents in Basque Country are Centro-Miraconcha in San Sebastián (€16-18/m²), Gros in San Sebastián (€15-17/m²), and Abando-Albia in Bilbao (€14-16/m²).

These neighborhoods command premiums because they offer walkable access to beaches, dining, cultural attractions, and major employers, combined with historic architecture.

Tenants here are typically well-paid professionals, executives, expats on corporate packages, and established couples who prioritize location over space.

By the way, we've written a blog article detailing what are the current best areas to invest in property in Basque Country.

Where do young professionals prefer to rent in Basque Country right now?

The top neighborhoods for young professionals in Basque Country are Indautxu and Abando in Bilbao, and Gros in San Sebastián, offering nightlife, cafes, and easy commutes.

Young professionals typically pay €700 to €1,100 per month ($735 to $1,155 USD) for a 1-bedroom or small 2-bedroom.

What attracts them is the combination of walkability, metro access, trendy restaurants, coworking spaces, and proximity to major employers.

By the way, you will find a detailed tenant analysis in our property pack covering the real estate market in Basque Country.

Where do families prefer to rent in Basque Country right now?

The most popular neighborhoods for families in Basque Country are Deusto in Bilbao, Antiguo in San Sebastián, and Salburua in Vitoria-Gasteiz, offering more space and calmer streets.

Families typically pay €1,000 to €1,400 per month ($1,050 to $1,470 USD) for a 2-3 bedroom apartment.

These areas attract families because they offer larger apartments, proximity to parks, lower traffic, and a stronger sense of community.

Top schools nearby include various ikastolas (Basque-language schools) and well-regarded public schools, particularly in Deusto and Vitoria's newer developments.

Which areas near transit or universities rent faster in Basque Country in 2026?

As of early 2026, the areas that rent fastest near transit or universities are Deusto in Bilbao (University of Deusto + metro), Ibaeta in San Sebastián (UPV/EHU campus), and central Vitoria-Gasteiz along the tram.

Properties in these areas typically stay listed for 7 to 14 days, with well-priced units often renting in under 24 hours during peak season.

The typical rent premium for properties within walking distance of transit or universities is €50 to €100 per month ($50 to $105 USD) versus less connected locations.

Which neighborhoods are most popular with expats in Basque Country right now?

The most popular neighborhoods with expats are Abando and Indautxu in Bilbao, and Centro-Gros in San Sebastián, offering international amenities and central locations.

Expats typically pay €900 to €1,400 per month ($945 to $1,470 USD) for a furnished 1-2 bedroom apartment.

These neighborhoods attract expats because they combine walkability, quality restaurants, reliable transport, and a cosmopolitan atmosphere.

The most represented expat communities include professionals from Latin America, France, the UK, Germany, and remote workers from various European countries.

And if you are also an expat, you may want to read our exhaustive guide for expats in Basque Country.

Who rents, and what do tenants want in Basque Country right now?

What tenant profiles dominate rentals in Basque Country?

The three tenant profiles dominating Basque Country's rental market are single-person households, young couples without children, and mobile workers including expats.

Single-person households represent roughly 30-35% of rental demand, young couples about 25-30%, and mobile workers approximately 15-20%.

Single-person households seek studios and 1-bedrooms centrally, young couples look for 1-2 bedrooms with good transport, and mobile workers prefer furnished units in connected neighborhoods.

If you want to optimize your cashflow, you can read our complete guide on how to buy and rent out in Basque Country.

Do tenants prefer furnished or unfurnished in Basque Country?

In Basque Country, approximately 65-70% of long-term tenants prefer unfurnished rentals, while 30-35% seek furnished apartments.

The typical rent premium for furnished apartments is €75 to €150 per month ($80 to $160 USD), representing about 10-15% over unfurnished units.

Tenants preferring furnished rentals include international workers, students, recent graduates, and corporate relocations needing move-in-ready housing.

Which amenities increase rent the most in Basque Country?

The five amenities that increase rent most in Basque Country are elevators, efficient heating and insulation, private parking, outdoor space, and modern kitchens.

An elevator can add €30-60/month, efficient heating €25-50/month, parking €50-100/month, a balcony €25-50/month, and a renovated kitchen €20-40/month.

In our property pack covering the real estate market in Basque Country, we cover what are the best investments a landlord can make.

What renovations get the best ROI for rentals in Basque Country?

The five renovations with the best ROI in Basque Country are window replacement, heating upgrades, kitchen modernization, bathroom updates, and improved insulation.

Window upgrades cost €2,000-4,000 and add €25-50/month; kitchen renovations cost €3,000-6,000 for €30-60/month extra; bathroom updates cost €2,000-4,000 for €20-40/month extra.

Renovations with poor ROI include luxury finishes beyond neighborhood standards, swimming pools, and high-end smart home systems most tenants won't pay for.

How strong is rental demand in Basque Country as of 2026?

What's the vacancy rate for rentals in Basque Country as of 2026?

As of early 2026, the vacancy rate in Basque Country's three capitals (Bilbao, San Sebastián, Vitoria-Gasteiz) is around 2-3%, indicating a very tight market.

Vacancy ranges from under 2% in high-demand areas like Abando or Gros, to around 4-5% in smaller inland municipalities.

The current vacancy rate is well below the 5% balanced-market threshold and lower than historical averages from the early 2010s.

Finally please note that you will have all the indicators you need in our property pack covering the real estate market in Basque Country.

How many days do rentals stay listed in Basque Country as of 2026?

As of early 2026, rentals in Basque Country's main cities stay listed for around 10-20 days on average, with well-priced properties renting much faster.

Days on market range from under 24 hours for competitively priced apartments in San Sebastián's Centro or Bilbao's Indautxu, to 30-45 days for overpriced units.

Current days-on-market is shorter than one year ago, reflecting continued tightening as demand outpaces supply.

Which months have peak tenant demand in Basque Country?

Peak months for tenant demand in Basque Country are August through October and March through June, when student intake and job relocations concentrate.

Seasonal patterns are driven by the academic calendar, corporate relocation cycles, and the traditional Spanish preference for moving in spring and autumn.

The lowest demand occurs in December-January during holidays and July when potential tenants delay decisions until after summer.

What will my monthly costs be in Basque Country as of 2026?

What property taxes should landlords expect in Basque Country as of 2026?

As of early 2026, landlords in Basque Country should expect €300 to €1,000 per year ($315 to $1,050 USD) in property taxes (IBI), or €25-85 per month.

IBI ranges from €200/year for modest apartments in smaller towns to over €1,200/year for larger or central properties in Bilbao or San Sebastián.

Property taxes are calculated by applying a municipal rate to the cadastral value, with Vitoria-Gasteiz using 0.336% while Bilbao and San Sebastián have their own schedules.

Please note that, in our property pack covering the real estate market in Basque Country, we cover what exemptions or deductions may be available to reduce property taxes for landlords.

What maintenance budget per year is realistic in Basque Country right now?

A realistic annual maintenance budget for a typical rental in Basque Country is €800 to €1,800 ($840 to $1,890 USD).

Costs range from €500/year for newer apartments to over €2,500/year for older buildings with frequent repairs or coastal weathering in San Sebastián.

Landlords typically set aside 8-12% of annual rental income for maintenance, or roughly €70-150 per month.

What utilities do landlords often pay in Basque Country right now?

In Basque Country, landlords most commonly pay community fees covering building maintenance and common areas, while tenants pay electricity, gas, water, and internet.

Community fees typically cost €50 to €150 per month ($55 to $160 USD), with older buildings and those with elevators at the higher end.

The common practice is for tenants to pay consumption-based utilities while landlords cover fixed building charges, though some include community fees in rent.

How is rental income taxed in Basque Country as of 2026?

As of early 2026, rental income in Basque Country is taxed as real estate capital income, with rates depending on total taxable income and province, since Bizkaia, Gipuzkoa, and Álava have their own foral tax systems.

Landlords can deduct mortgage interest, property taxes, community fees, insurance, repairs, and depreciation, significantly reducing taxable rental income.

A common mistake for Basque Country landlords is applying Spanish national tax rules instead of foral rules, since the three provinces have different deduction limits than the rest of Spain.

We cover these mistakes, among others, in our list of risks and pitfalls people face when buying property in Basque Country.

We did some research and made this infographic to help you quickly compare rental yields of the major cities in Spain versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.

What sources have we used to write this blog article?

Whether it's in our blog articles or the market analyses included in our property pack about Basque Country, we always rely on the strongest methodology we can and we don't throw out numbers at random.

We also aim to be fully transparent, so below we've listed the authoritative sources we used and the methods behind our estimates.

Source	Why it's authoritative	How we used it
Basque Government - EMA Rent Reference	The Basque Government's official housing portal for the region's rent statistics.	We used it to explain the official rent-statistics system built from real contracts. We used it to frame contract rents versus asking rents.
Eustat - Rental Market Statistics	Basque Country's official statistics institute, equivalent to a national stats office.	We used it to access official tables for average rents. We treated these as the baseline for signed contract costs.
Eustat - Average Monthly Rent	Official dataset from deposits and registrations tied to rental contracts.	We used it to anchor contract rent levels for Euskadi. We used the time series to gauge rent growth pace.
Eustat - Rent per Square Meter	Official €/m² series from registered long-term rental contracts.	We used it as the most defensible contract €/m² figure. We compared it with market prices to estimate 2026 rents.
Basque Government - Housing Observatory 2024-2025	Annual housing report guiding public policy.	We used it for supply constraints and affordability pressure. We used it to support our 2026 outlook.
Spain Ministry of Housing - SERPAVI	National housing ministry explaining official rent reference methodology.	We used it to cross-check national rent reference data. We used it to contextualize rent regulation in Spain.
Official Gazette (BOE)	Legal source of truth for Spanish regulations.	We used it to confirm the legal basis for rent reference indices. We used it to explain why index-based caps matter.
Idealista - Euskadi Rent Report	Spain's largest property portal with consistent, transparent asking prices.	We used it for market asking €/m² with neighborhood-level data. We combined it with Eustat data to estimate 2026 rents.
INE - Consumer Price Index	Spain's national statistics agency and official inflation source.	We used it to explain CPI-updated contract rents. We used it for context on rent growth and purchasing power.
INE - IRAV Reference Index	Official index for updating rental contracts under the Housing Law.	We used it to explain how annual rent updates are capped. We used it to separate new listing growth from existing contract increases.
Banco de España Research (via RTVE)	Spain's central bank research summarized by public broadcaster.	We used it for macro drivers like supply scarcity and market frictions. We used it to explain why demand feels tight.
Eustat - Household Structure	Official demographic data from the Basque statistical system.	We used it to explain strong demand for studios and 1-bedrooms. We used it to tailor tenant profiles to Basque Country.
Basque Government / Ikuspegi	Official Immigration Observatory data release.	We used it to ground expat demand with real demographic data. We used it to explain why some neighborhoods skew international.
Cadena SER - Express Rentals	Major national radio outlet citing Idealista data.	We used it to quantify how fast rentals move in Basque capitals. We used it as a proxy for market tightness.
Vitoria-Gasteiz City Council - IBI	City government's official property tax page.	We used it for a concrete local property tax example. We used it to build realistic monthly cost estimates.
Spain Ministry of Finance - Tax Lookup	Central government tool compiling municipal tax information.	We used it to verify municipality-specific IBI rates. We used it to justify giving ranges for different cities.
Agencia Tributaria - Rental Income	Spain's tax authority with canonical guidance.	We used it to explain deductions and reductions for rental income. We used it as baseline before noting Basque foral differences.
Diputación Foral de Bizkaia	Bizkaia's foral tax authority for Bilbao-area landlords.	We used it to show Basque taxation differs from national rules. We used it to keep tax advice tailored to Euskadi.