Real rental prices, housing mix and market trend in La Latina. (officially Palacio)
Median rent
€1,540/month
Mean: €1,788/month
Price per m²
29.5€
Madrid: 24.6€/m²
Trend
↑ 3.6%
€/m² vs previous period
Listings analyzed
319
Idealista listings
Prices, percentages and counts are calculated from Idealista listings of the last few months.
La Latina is the Madrid of the postcards: the medieval street plan of Los Austrias, the tapas bars of Cava Baja, the Plaza de la Paja, and El Rastro, the flea market that takes over the whole quarter every Sunday. The neighbourhood is officially called Palacio, and it runs up to the opera house and the Royal Palace.
Demand is intense and the numbers show it. At 29.5€/m² it is one of the most expensive places to rent in the city, and the median flat is 50 m². You pay a lot, and not for much space. Tenants tend to be people who already know Madrid and want to stay in the old town, foreign residents with a budget, and couples without children. With 319 listings, supply is thin against the demand.
What you get is the historic centre with everything on foot. What you give up is quiet. Sunday mornings belong to El Rastro, tourist pressure is constant, and the buildings are old enough that you should inspect the block as carefully as the flat.
Transport: metro lines L5 (La Latina, Puerta de Toledo), L2 and L5 (Ópera) and L1 (Tirso de Molina).
58% of rental flats in La Latina have one bedroom, followed by 24% with two bedrooms. Studios make up 6% of the supply, and flats with four or more bedrooms, 3%.
Lift. 72% of rental homes here have a lift. Nearly three quarters of flats have a lift, which is high for a medieval quarter: many buildings were refurbished and had one added, though the narrowest streets are still walk-ups.
Private landlord or agency. 7% of listings are posted by a private landlord, against 93% that come through an agency. As in most of Madrid, the supply is dominated by agencies.
The median rent in La Latina is €1,540 a month. Most flats let for between €1,300 and €2,050 a month: a quarter of the supply falls below €1,300, and another quarter goes above €2,050.
Per square metre that works out at 29.5€/m². Applied to real floor areas, a 50 m² flat lands around €1,480 a month, a 70 m² flat around €2,060, and a 90 m² flat around €2,660.
Against the city as a whole, La Latina sits 3% above the Madrid median (€1,500/month), where the median price per square metre is 24.6€/m².
In La Latina, only 10% of listings go below 20.6€/m². If you find a 70 m² flat at €1,440 a month or less, it is below the 10th percentile for the neighbourhood.
That does not make it a scam, but it is worth checking before you go any further. A price well below the local market is the single most common red flag in rental fraud.
For reference, the 25th percentile in La Latina sits at 24.0€/m². Below that, the price is good for the area without being anomalous.
Over the last few months, the price per square metre in La Latina has risen by 3.6% against the previous period.
Based on 319 Idealista listings in La Latina analyzed over the last few months. We compare two consecutive 28-day periods, and we measure the change in price per square metre rather than in median rent: median rent rises and falls with the size of the flats posted in a given week, which describes our sample rather than the market. Our history is still short, so these figures describe where the market is right now, not an annual trend.
Looking for a flat in La Latina right now? The good listings are gone within hours. Our Idealista apartment alerts notify you the moment one matching your search goes live, before everyone else sees it.
The median rent in La Latina is €1,540 a month, which works out at roughly 30€/m². Most flats let for between €1,300 and €2,050 a month. These figures come from 319 Idealista listings over the last few months.
Over the last few months, the price per square metre in La Latina has risen by 3.6% against the previous period. The comparison is based on 126 listings in the earlier period and 193 in the more recent one.
72% of rental homes in La Latina have a lift. Nearly three quarters of flats have a lift, which is high for a medieval quarter: many buildings were refurbished and had one added, though the narrowest streets are still walk-ups.
Expect to be asked for your NIE (Número de Identificación de Extranjero) if you are a foreigner, your last few payslips or proof of income, your employment contract, and increasingly a bank guarantee or several months of deposit. None of it is a legal requirement of the contract itself, but applicants who turn up without the paperwork ready lose the flat to someone who has it. Assemble the folder before you start viewing.