This paper extends the literature on the internal migration patterns of the foreign-born by analyzing the situation in Spain, a country affected by recent but very significant migratory flows. We utilize a standard theoretical framework in order to assess the relative importance of human capital, economic, and social capital indicators. To this end, we take advantage of a new micro database, the National Immigrant Survey (Encuesta Nacional de Inmigrantes– ENI-2007). Our findings suggest that the main theories explaining internal migration patterns of the foreign-born are at least partly true. Evidence is presented in support of the importance of education and knowledge of the native language, income, and networks based on the sharing of social capital among family members, though less so for those based on friends and acquaintances. Spanish citizenship and employment status seem to be less important in explaining the propensity to move within the country. We argue that the lack of significance of some indicators is due mainly to the fact that Spain has become a major destination only very recently as well as to the way different immigrant groups tend to implement strategies for promotion and integration.