Eight municipalities in the Balearics had average net household incomes of over 55,000 euros in 2024, with Fornalutx recording the highest at 59,702 euros. | Photo: Majorca Daily Bulletin reporter
Humphrey CarterPalma19/10/2026 12:48
Eight municipalities in the Balearics had average net household incomes of over 55,000 euros in 2024, with Fornalutx recording the highest at 59,702 euros. The next municipalities with the highest average household income in the Balearics are Valldemossa, with €59,536, Bunyola with €58,748, Marratxí with €58,252 and Puigpunyent with €57,502, according to the ‘2024 Atlas of Household Income Distribution’ published on Monday by the National Institute of Statistics (INE).
The municipality in the Balearics with the lowest average household income is Banyalbufar, at €33,032; next is Cadpepera, at €39,357; and the third lowest is €40,656. In Palma, the average household income was €48,884 in 2024; in Calvia, €46,510; in Ibiza, €54,559; and in Mahón, €45,589.
The average household income in the Balearic Islands was €47,774 in 2024, 6.6 per cent higher than in 2023. In Mallorca it was €47,149, in Menorca €45,544, and in Ibiza and Formentera €52,936. The average income per person in the Balearics stood at €17,158 in 2024, a figure representing a 6.4 per cent decrease compared with the previous year.
The highest average per capita income figures in the Balearics were recorded in Escorca (€25,810), Valldemossa (€23,693), Sant Lluís (€21,142) and Deya (€21,080). In terms of income distribution quartiles, 46.3 per cent of municipalities in the Balearics fall within the high average annual per capita income bracket; 46.3 per cent are in the upper-middle income bracket, and 7.5 per cent in the lower-middle income bracket. There are no significant figures for low incomes.
Pozuelo de Alarcón (Madrid) and Matadepera (Barcelona) are the highest-income municipalities in Spain with more than 2,000 inhabitants, with an average of €32,612 and €28,607 per inhabitant respectively – a figure which, in both cases, is three times that of the municipality with the lowest income, Iznalloz (Granada), at €9,153. The INE’s 2024 atlas ranks Boadilla del Monte (Madrid), with 28,382 euros, as the third-highest-income municipality.