Introduction: Existent studies on marginal dwellings made between 1960 to 2014 have been centered in specific cities or countries. The present study aims to express how this type of dwellings have come to exist, evolve and maintain themselves as an alternative housing option, and to establish the similarities that these settlements present in different Latin American countries. Methodology: It is based on a documentary research of retrospective design in urbanism, in which the following keywords were taken into account—as well as the connections between them—: marginal dwelling, informal settlements, spontaneous housing and informal city. Bibliographical research was made through search engines and libraries located in Colombia and Spain. Results: In the studied context it was possible to identify a strong marginal housing dynamics as a housing alternative, and the role of the different social actors that intervene in its emergence, development and consolidation, as well as the state responses and the characteristics that identify such settlements. Conclusions: Marginal housing it’s not just an alternative for areas with poor-income, but also for the state. The consolidation periods of these sectors span for three to four decades, after successive public intervention programs. A higher number of dismantlement of these settlements is seen in Spain.