How much of your salary does rent eat up: ranking of European cities

Rent in European cities varies significantly and often exceeds half of your salary. Find out where rent eats up more than 100% of your income, and where you have most of your money left to live on

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Renting housing is becoming an increasingly significant financial burden for residents of large cities. In some European capitals, housing costs completely “eat up” salaries, while in others, a significant amount remains for living expenses after paying rent. We will tell you where it is more profitable to live in this article, with reference to PaySpace Magazine, which analyzed data from Deutsche Bank Research and compared net salaries and the cost of renting one-bedroom apartments in city centers.

Read also: What is the hourly wage in EU countries and how does it differ from Ukraine?

Salaries in Europe and around the world: where do they pay the most?

The highest average salaries are recorded in Switzerland. In Geneva, residents earn an average of €7,307 per month, and in Zurich, €7,127. This makes the country the absolute leader in terms of income in Europe.

High incomes are also recorded in cities in Western and Northern Europe. In Luxembourg, Amsterdam, Copenhagen, and Frankfurt, average net salaries exceed €4,000.

Among the five largest economies in Europe, the most modest incomes are in Rome (€2,046) and Madrid (€2,193). In Berlin (€3,565) and Paris (€3,630), salaries are significantly higher. For comparison, residents of London earn an average of €3,637.

Read also: How many years does it take to earn enough to buy an apartment in European countries?

Rental prices: from Athens to London

The difference in the cost of renting one-bedroom apartments in city centers is striking. In London, it reaches €2,732 (£2,365) per month — the highest in Europe.

In Zurich, Dublin, Amsterdam, and Geneva, rents also exceed €2,000. In Athens, however, they are only €595, and in Budapest, they are less than €900.

Read also: Renting a one-bedroom apartment in Ukraine — where is it cheaper, and where is it more expensive?

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Where are salaries not even enough to cover rent?

The most telling indicator is the share of income that has to be spent on housing. In Lisbon, for example, this figure reaches 116%. This means that the average salary there is not even enough to cover rent.

The situation is also difficult in London, where 75% of earnings are spent on rent. In Barcelona and Madrid, the figure is 74%, and in Milan, 71%.

In Rome, 65% of income goes towards housing, in Dublin — 62%, in Athens — 57%, in Warsaw — 56%, in Prague — 54%, and in Budapest — 52%.

Read also: Which EU countries will offer the best employment conditions for refugees from Ukraine in 2025?

Cheapest rent: where is housing the least expensive?

Geneva is the only European city where rent takes up less than a third of income—29%. Next are Luxembourg and Frankfurt (34% each), Zurich and Helsinki (35% each), and Vienna (38%).

In Berlin, residents spend about 40% of their income on rent, and in Paris, 45%. This is significantly less than in Madrid or Rome.

In other cities, the situation is as follows: Amsterdam — 49%, Stockholm — 46%, Edinburgh — 44%, Copenhagen — 43%, Oslo — 42%.

Read also: How much will Ukrainians be paid in different EU countries in 2025?

Comparison with other regions of the world

The Deutsche Bank Research study covers more than just Europe. Among the cities where salaries do not cover rent are Bogota (120%), Mexico City (118%), São Paulo (102%), and Istanbul (101%).

In Rio de Janeiro, rent takes up exactly 100% of salaries, in Manila — 94%, in Buenos Aires — 88%, and in Mumbai — 84%.

Even in wealthy New York, the situation is not easy: here, rent takes up 81% of income — the highest among US cities.

We remind you! The real estate market in Ukraine depends on seasonality and regional characteristics. Read when it is more profitable to buy housing in Kyiv, Lviv, or Odesa in our previous article.

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