section_path: Economy/Present-day economy/Standard of living
section_name: Standard of living
paragraph_text: Standard of living
  
  Mean household income and spending are 12% above the Spanish average.: 537, 553 The proportion classified as "at risk of poverty" in 2010 was 15.6%, up from 13.0% in 2006 but less than the average for Spain of 21.8%. The proportion classified as affluent was 43.3%, much higher than Spain overall (28.6%).: 540–3
  
  Consumption by Madrid residents has been affected by job losses and by austerity measures, including a rise in sales tax from 8% to 21% in 2012.
  
  Although residential property prices have fallen by 39% since 2007, the average price of dwelling space was €2,375.6 per sq. m. in early 2014,: 70 and is shown as second only to London in a list of 22 European cities.