According to 2023 figures from the Tax Agency, the renting-out of homes in the Balearics generated a total income of €1.197 million.
The number of taxpayers who declared this income was 97,076. An average income of 12,331 euros was roughly 40% higher than the Spanish average and more than in any other region of Spain.
The second highest average income was €10,693 in Madrid; the third was €9,970 in Catalonia. These two regions plus the Balearics were the only ones above the national average. At the other end of the spectrum was Extremadura with an average income of €5,952. There were three times as many landlords in the Balearics as in Extremadura, though the actual number will have been higher; not all income is declared.
The Tax Agency's figures reveal that 478 landlords declared spending €664,370 on legal defence. This is unspecified but is most likely due to tenant non-payment and squatting.
Total deductions amounted to €444.5 million for the likes of repair costs, community fees, utilities, and insurance premiums.