Shorouk Express
Spain has long been the country of choice for retirees from northern European countries such as the UK, but could it also be the best overseas option for American pensioners? That’s what a new study has concluded.
Spain has long been a popular country for Europeans to retire to due to its great climate, relatively low cost of living, vibrant culture and strong social communities.
Now a new study from Global Citizen Solutions, an investment migration consultancy firm, classes Spain as the top country for US nationals to retire to as well.
The study is based on the firm’s Global Intelligence Unit’s Retirement Index which looks at factors such as living expenses, healthcare and retirement visa options.
Spain ranked first place on the index, beating the likes of Portugal at number two, Costa Rica at number three, Uruguay at number four and Mexico at number five.
It scored 100 points in their US Retirement Trend report, due to its low cost of living, excellent quality of life, good public and private healthcare systems and visas for being able to move there.
According to the price comparison website Expatistan, the cost of living in United States is 75 percent higher than in Spain.
For example, it states that living in Madrid is 67 percent less than in New York, 49 percent cheaper than San Francisco, 46 percent more inexpensive than Miami and 39 percent cheaper than in Los Angeles.
READ ALSO: How much cheaper is life in Spain than in the US in 2025?
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Spain ranked as the second in terms of its healthcare system, fifth on climate, and sixth in terms of flight distance from the United States.
It also ranked seventh due to its relatively low crime rate, “despite the fact that petty theft can occur in tourist areas like Madrid and Barcelona”, the company reported.
The report suggests that Madrid is a popular choice for American retirees, “known for its culture and history” and praises it for its low cost of living.
It suggests that a single person can live in the capital for around $2000 to $2500 USD per month – the equivalent of €1,765 to €2,207. But it’s worth keeping in mind this might be a little low given the current rising costs in Spain.
For example, it says you can rent a one-bedroom apartment in central Madrid for $1,322.50 USD, which is €1,176.33. This is low given the fact that Idealista has the average rental price down in central Madrid as €25.7 /m2. This would be at least €1,542 for even a small apartment of 60m2.
So if you are thinking of retiring here it’s worth budgeting a little more than perhaps you’ve been led to believe.
READ ALSO: Five towns in Spain where American retirees can enjoy Spanish life
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The index also took into account the visa options that Americans could use to retire to Spain. It states that the “Non-Lucrative Visa is perfect for those who want to live in Spain without working”.
In order to be eligible for the NLV you need to show you have savings or passive income of €28,800 per year or €36,000 for a couple. This is currently equivalent to $32,571.08 or $40,718.45 per year. You also need to have private health insurance.
The report also says that the Golden Visa is another good option, for those making a real estate investment of more than €500,000, but unfortunately this is no longer an option as the Spanish government decided to cancel it. It officially ended on April 3red 2025.
This means that the NLV is really the only visa option for Americans to retire to Spain.
READ ALSO: The only visa Brits and Americans can now apply for to retire to Spain
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Many of the reasons it gives for retiring to Spain are reasons that other American readers gave The Local Spain for moving here.
Among the most popular reasons were the getting away from the current political situation, safer and a better quality of life, as well as the lower cost of living.
In fact, the number of Americans living in Spain soared by 10,000 in two years according to official data.
READ MORE: Trump, safety and quality of life – Why so many Americans are moving to Spain
