Resident's Incomes on Fuerteventura

[Captain Sensible]

A study has shown that La Oliva is the poorest Municipality on Fuerteventura, closely followed by Caleta de Fuste.

https://noticiasfuerteventura.com/fuerte...rteventura

The INE affirms that La Oliva is the poorest municipality in Fuerteventura

It affirms that in Corralejo there is a 22.7% of the population that income less than 416 euros a month.

According to the National Statistics Institute in a virtual map published on its website, the municipality of La Oliva is one of the poorest in the archipelago, with income of around 21,000 euros / year per family and the poorest on the island of Fuerteventura. , although the area with the lowest income per family would be Caleta de Fuste, with 20,169 euros / year per family.

Only some areas in the south of Tenerife, such as Arona and Adeje, have a lower income level than the north of the Majorera island in the Archipelago.

According to INE data, around 20% of the inhabitants of La Oliva would be below the poverty line and, therefore, will be among the great beneficiaries of Basic Income, which comes to lead to a very precarious situation.

Around 21% of the population of La Oliva earn less than 416 euros per month.

Puerto del Rosario is the richest on the island, where according to the interactive map of the Institute, it is affirmed that it would have a municipal average of around 31,000 euros / year per family unit. In this sense, around 6% would be below 416 euros per month per family unit and would be eligible for Basic Income aid.

[Sam]

Thanks for really interesting numbers Captain.

...although the area with the lowest income per family would be Caleta de Fuste, with 20,169 euros / year per family...

This brings up a question: Is it possible for (let's say family of four) to live in Caleta on 20k budget? Don't really have the time to do the maths, anyone willing to put the ins&outs together? The family would rent a 3/4 bedroom house or flat, own a second hand car, meal in restaurant once a week, both kids in school (Rosario), etc.

I guess the biggest cut of the pie would go to the accommodation, not sure how much though.

[Ducks]

I know of several families in the area (not personally, just homes I regularly pass on walks) that have 2-3 children living in one-and two-bed places. The reason I know this is because due to the lack of space, the garden/balcony is used as a separate "room" and the children are always out there playing, and they definitely live there full-time. There are a lot of people living in homes with at least twice the number of occupants as bedrooms.

[Will]

Thanks for really interesting numbers Captain.

...although the area with the lowest income per family would be Caleta de Fuste, with 20,169 euros / year per family...

This brings up a question: Is it possible for (let's say family of four) to live in Caleta on 20k budget? Don't really have the time to do the maths, anyone willing to put the ins&outs together? The family would rent a 3/4 bedroom house or flat, own a second hand car, meal in restaurant once a week, both kids in school (Rosario), etc.

I guess the biggest cut of the pie would go to the accommodation, not sure how much though. 

Of course it's possible to live on 20K.  That 20K number is either an average or median. Either way plenty of people are going to be well under it. 

What you need to ask yourself is if you'd enjoy the lifestyle. The other problem is it's always easier for established locals who have a local support group. A family with two kids likely has friends with two kids. That means kids clothing getting passed around when somebody outgrows them. Plus all the other advantages of not having to establish a new home with all those costs.

[Spitfire58]

With the slightly lower cost of living out there I would say it is entirely possible to live on 20k. The couple of riders to that would be to me anyway:
1) what kind of lifestyle you are used to & 
2) what you’re personal circumstances are, ie, retired or not, want to work or not ! 
We are in the lucky position of owning our property with no mortgage etc so makes a big difference but 20k is still over 1650 per month so while not a huge amount, I think would be adequate

[Sam]

I know of several families in the area (not personally, just homes I regularly pass on walks) that have 2-3 children living in one-and two-bed places. The reason I know this is because due to the lack of space, the garden/balcony is used as a separate "room" and the children are always out there playing, and they definitely live there full-time. There are a lot of people living in homes with at least twice the number of occupants as bedrooms.

That's a good point and having such a great Weather most of the time.

Of course it's possible to live on 20K. That 20K number is either an average or median. Either way plenty of people are going to be well under it.

What you need to ask yourself is if you'd enjoy the lifestyle. The other problem is it's always easier for established locals who have a local support group. A family with two kids likely has friends with two kids. That means kids clothing getting passed around when somebody outgrows them. Plus all the other advantages of not having to establish a new home with all those costs.

Less materialistic lifestyle, that's always good. Recycling clothes helps the planet too. Like it so far!

With the slightly lower cost of living out there I would say it is entirely possible to live on 20k. The couple of riders to that would be to me anyway:
1) what kind of lifestyle you are used to &
2) what you’re personal circumstances are, ie, retired or not, want to work or not !
We are in the lucky position of owning our property with no mortgage etc so makes a big difference but 20k is still over 1650 per month so while not a huge amount, I think would be adequate

No matter if they're working or not; our hypothetical family of four has 20K income, not owning any property. But yes, owning a property is the best way how to spend less in the future. They can think about a mortgage in the future I guess.

Let's do the numbers:

€20k / 12months = 1,650 € - Monthly budget

Cheap 3 bed house in Caleta - 750 €/month https://www.idealista.com/en/inmueble/87783616/

Second hand car: let's say we pay 3,000 € for an old car (sorry not really a car person) which will last 8 years. That's 375 € per year/ 12 = 35 € per month. Plus insurance, MOT, servicing plus gas, I'm guessing 200 € each month. - Can you tell me how much off am I, please? No idea what I'm talking about here.

Bills: Electric, water, internet, mobile phones - 150 €

Cheap restaurants 4 times per month, each time 50 € will add another 200 €. - can always skip if they are short of Money that week/month.

Groceries: 75€ weekly seems to be about right, making it 300€ per month.

Clothes, school, sports, hobbies, doggo in need of medicine, other travel, etc: ???

Let's put this together: 750 rent + 200 car + 150 bills + 200 meals + 300 groceries = 1,600 € Monthly or 19,200 per year.

Not sure if I missed something, what's your thoughts?