Driven by a search for a better quality of life and new visa opportunities, a record number of Americans are choosing Spain as their new home. New Eurostat data shows Spain issued the most first-time residency permits to U.S. citizens in the EU in 2024, an unprecedented number that more than doubles the figure from 2015. For many, the decision is fueled by a desire to escape political fatigue and the high cost of living in the U.S.
According to Spain’s National Statistics Institute (INE), the number of U.S. citizens living in Spain reached 50,623 as of January 1, 2024—a 26% increase in just two years. Data shows the surge is not primarily driven by retirees but by a younger demographic, with a significant number in the 20 to 39 age bracket, many of whom are utilising the country's Digital Nomad Visa.
The lure of lifestyle and affordability
For many Americans, Spain offers a compelling antidote to the pressures of modern life in the United States. Expats report a more relaxed pace, a welcoming Mediterranean climate, and a significantly lower cost of living. A strong U.S. dollar against the euro has increased purchasing power, making real estate more accessible to American buyers.
Real Estate Boom: U.S. property purchases in Spain increased by 57% year-over-year in the first quarter of 2025, with Americans becoming the fastest-growing foreign buyer group.
Cost of Living: Many expats find that daily expenses in Spain are approximately 30% lower than in the U.S., including more affordable housing and fresher, less expensive food.
Political Fatigue: For some, the decision is a direct response to political polarisation in the United States, which gained momentum following the 2024 presidential election.
Digital Nomads and new residency pathways
The recent surge was significantly influenced by Spain's introduction of a Digital Nomad Visa, which streamlines the residency process for remote workers. While Spain officially ended its Golden Visa program for property investors in April 2025, other pathways, including the non-lucrative visa for those with passive income, have continued to attract long-term residents.
This new wave of expats is also spreading out geographically, settling beyond traditional hubs. While Madrid and Barcelona remain popular, other cities like Valencia and Málaga have become major draws for remote workers and those seeking a more authentic Spanish experience.
The economic and social impact
The influx of high-earning Americans, especially remote workers and investors, brings new purchasing power to the Spanish economy. However, this trend also fuels concerns about the potential for rising real estate prices and inflationary pressures in popular areas, a concern voiced by some Spanish citizens. Despite this, the economic injection and cultural exchange are widely seen as a boon for the country.
Looking ahead
The data indicate that this trend is likely to continue. With a strong U.S. dollar, supportive visa policies, and a culture that appeals to those seeking a better work-life balance, Spain remains a top destination. As more Americans discover the benefits of life on the Iberian Peninsula, the cultural and economic exchange between the two nations is set to grow even stronger.