Moving to Madrid from the US: the Housing Side

Most guides about moving to Spain are written for tourists or for retirees. This one is about the housing side, written for someone arriving from the United States who has to actually rent or buy a home here.

I do this every week, so here is what genuinely surprises Americans, and what to do about it.

1. Your US credit history does not exist here

This is the biggest practical shock. In the US your score opens doors. In Spain nobody will run it, nobody can read it, and nobody cares.

What a Spanish landlord wants instead is proof that money arrives every month: a Spanish employment contract and recent payslips. If you are arriving with a US job, a remote contract or savings, you are in the same position as everyone else who is new here, and there are standard ways around it: a bank guarantee, several months paid in advance, a guarantor resident in Spain, or a rental guarantee company. I explain each one in the renting guide below.

2. The money works differently

That third row matters. If an agency tries to charge you a fee for a flat they are letting on the owner’s behalf, that is not yours to pay. Hiring someone yourself to search for you is a different thing entirely.

3. Square metres, and what they really mean

Forget square feet. A quick rule: a 55 m2 flat is roughly 590 sq ft and 80 m2 is roughly 860 sq ft.

Yes, that is smaller than what the same money buys in most of the US. But two things change the picture. Homes here are built for a life spent outside them, and you will not need a car for most of your daily life, which quietly gives you back a big chunk of budget.

4. The things nobody warns you about

5. Where Americans tend to land, and where I would look

A lot of Americans head straight for Salamanca or Centro because that is what they have read about. Both are fine, but they are the most expensive, and the flats are older and smaller.

If you want walkable and central, I would look at Chamberí or Retiro. If you want space, a lift and a newer building, Arganzuela or Chamartín. If you are coming with a company or with children, the north, around Alcobendas and San Sebastián de los Reyes, is where the international schools and a lot of corporate housing are.

6. Buying, if that is your plan

Americans can buy property in Spain freely, on the same terms as anyone. You need a NIE, and in practice a Spanish bank account. Budget around 10 per cent on top of the price for taxes and fees.

Two warnings. First, buying no longer gives you residency: the Golden Visa closed on 3 April 2025 and a lot of American blogs still say otherwise. Second, being a US citizen brings its own reporting obligations wherever you live, so speak to a cross border tax adviser before you buy, not after.

My honest advice, and I say it even though I work with buyers: rent for a year first. You will choose a much better home once you actually know the city.

7. The order I would follow

1. Sort your visa with an immigration lawyer. That decides everything else.
2. Start the NIE process early, the appointment is the bottleneck.
3. Open a Spanish bank account.
4. Decide your area from your commute, not from a guidebook.
5. Arrange your guarantee, since you will not have Spanish payslips at first.
6. Line up viewings for the week you land. Good flats go in 24 to 72 hours.

Questions I get asked a lot

Can Americans rent in Spain without a job here?

Yes, with a guarantee: a bank guarantee, months in advance, a guarantor or a guarantee company. It is common and landlords are used to it.

Do I need to speak Spanish?

To live, you will want it. To rent, not necessarily, though it narrows your options if you deal only with English speakers, which is part of what I solve for clients.

Is Madrid expensive compared to US cities?

Compared to New York, San Francisco or Boston, clearly cheaper. Compared to smaller US cities, less of a difference than people expect, but you get a city where you do not need a car.

How far ahead should I start?

Visa aside, start the housing search four to six weeks before you land, no earlier. Listings move too fast for anything further out.

General practical information from a property adviser, not legal, immigration or tax advice. US citizens have specific cross border tax obligations: speak to a qualified adviser. Visa rules and market conditions change.