On one side of Pérez Galdós Avenue, in Extramurs, the median income, that is, the most common among neighbors, is 26,250 euros. On the other side of the street, in L’Olivereta, it is 12,950 euros. About 15,000 euros difference just for crossing the street. The same difference is repeated in other avenues of the city that separate the center from the more peripheral neighborhoods, such as Peris y Valero, Avenida de la Plata, Avenida Burjassot or Peset Aleixandre.
These data, mapped street by street by the INE based on the Renta 2023 data, show the growing difference that cities such as Madrid, Valencia and Barcelona are experiencing, where the center is becoming a place only suitable for the highest incomes.
In its methodology, the INE explains that the median income has been chosen instead of the average because it is a firmer indicator: it is simply the value that remains at the midpoint, so that the presence of households with extreme wealth has less influence than in the calculation of the average.
And the problem is not only that. One might think that, in proportion, the rent of an apartment will be slightly lower in the area with the lowest disposable income. However, on both sides of the street it exceeds 17 € per square meter, according to data available on portals such as Idealista. Same rent, but up to annual rents with 15,000 euros difference.
The alternative for many is perhaps to move out of the city, to towns bordering Valencia. However, prices there also reach records: Alboraya is already the town with the most expensive rent on average in Valencia.
The perfect residential “pincer
This scenario draws an almost perfect residential “pincer”. On the one hand, the income gap evidenced in avenues such as Pérez Galdós consolidates a more exclusive urban center. On the other hand, the escalation of prices in the periphery and the metropolitan area eliminates the traditional escape routes for lower incomes.
The conclusion drawn by the INE data is that, while a resident of Extramurs can allocate an affordable percentage of his 26,250 euros to rent, his neighbor in L’Olivereta faces an identical market of 17 €/m² with half the income.
These and other data, such as the source of income of your neighbors, can be consulted on the official website of the INE, through this link.