According to data from last July, housing prices in Elche saw a year-on-year increase of 17.5% in the second quarter. Now, a study by Accumin Intelligence indicates that the net monthly salary needed to purchase a 100-square-meter home in the city is 1,531 euros. The estimated average price for homes of this size is 144,934 euros, without dedicating more than 35% of the salary, the maximum recommended.
This figure places the purchasing power required to buy in the fourth highest position in the Valencian Community, behind Benidorm (2,813 euros), Valencia (2,675 euros), and Alicante (1,991 euros). Elche ranks among the 60 most expensive cities for purchasing a home through a mortgage, at number 44. Nevertheless, the average necessary monthly family income stands at 1,999 euros net per month, approximately 35,000 euros gross annually, for first-time buyers of a typical 100-square-meter home.
The city faces a shortage of supply and difficulties in accessing first homes. To address this, the City Council has launched the 'Casa Fácil' plan for young people, the regional 'Plan Vive', and aid from the Valencian Finance Institute (IVF).
The study highlights that Elche falls between the 'two realities of the coast,' where prices detach from local purchasing power due to strong foreign attraction, like Benidorm, or those with lower international demand, such as Castellón. Elche's average income is among the lowest of the province's major cities and maintains an internal duality, with greater wealth concentrated in its rural districts and countryside areas compared to urban neighborhoods.
