Germany: average residential rent, by city 2024

Rents in Germany continued to increase in all seven major cities in 2024. The average rent per square meter in Munich was approximately 19.4 euros - the highest in the country. Conversely, Düsseldorf had the most affordable rent, at approximately 12.5 euros per square meter. But how does renting compare to buying? According to the house price to rent ratio, house prices in Germany have risen faster than rents in recent years, making renting more affordable than buying.

Affordability of housing

In 2022, Germany had the sixth-highest house price to income ratio in Europe. The indicator compares the affordability of housing across OECD countries and is calculated as the nominal house prices divided by nominal disposable income per head with 2015 chosen as a base year. Germany had an index value of 134, meaning that the house price growth had surpassed income growth by 34 percent since 2015.

How much does buying a property in Germany cost?

Just as with renting, Munich was the most expensive city for newly built apartments. In 2022, the cost per square meter in Munich was almost 3,000 euros higher than in the runner-up city, Frankfurt. Detached and semi-detached houses are usually more expensive. The price gap between Munich and the second most expensive city, Stuttgart, was nearly 4,000 euros per square meter.

Average rent price for residential real estate in selected cities in Germany from 2012 to 2024 (in euros per square meter)

Characteristic	Munich	Frankfurt am Main	Stuttgart	Hamburg	Cologne	Dusseldorf	Berlin
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Release date

April 2024

More information

Region

Germany

Survey time period

2012 to 2024

Special properties

As of Q4 quarter of each year (for 2024 only data from Q1)

Supplementary notes

*Excluding shared flats or furnished flats.

According to empirica, the data is based on an extensive collection of carefully prepared property market data from more than 100 sources (listing data). The collection is fed by property advertisements that are continuously researched throughout Germany and have been adjusted for duplicates and fraudulent advertisements. In addition to the well-known large property marketplaces, the research also includes smaller, specialized internet sources and print media. The determination of so-called hedonic prices is a procedure in which changes in quality are considered because the respective advertised flats can vary over time. Flats of all years of construction with a size of 60 to 80 square meters and upscale furnishings were considered.

KS = district-free city

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