Price-to-rent ratio in selected countries globally 2018

As of the fourth quarter of 2018, it was more expensive to rent than buy a house in most OECD countries, with Latvia having the highest house-price-to-rent ratio of 128.51. The lowest ratio was found in Russia, with 88.89.

‘House-price-to-rent ratio’

The house-price-to-rent-ratio is a measure of whether it is more profitable to rent or to buy a house. It is generally calculated by dividing the median house price by the median annual rent. In this statistic, the values have been normalized with 100 equaling the 2015 ratio. Consequentially, a value under 100 means renting is more affordable. When all OECD countries are considered as a whole, it has been more profitable to buy a house than to rent since 2015. .

‘Measures of housing affordability’

The national house-price-to-rent ratio may not fully reflect the cost of housing in a particular country as it does not capture to the price variations that can exist between different regions. It also does not take into consideration the relationship between incomes and housing costs, which is measured by the house-price-to-income and household-rent-to-income ratios. Taking both these factors into account uncovers vast differences in housing affordability between different regions and different professions.

House-price-to-rent ratio in selected countries worldwide in Q4 2018

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Release date

October 2019



Survey time period

Q4 2018

Supplementary notes

*as of Q2 2018.
**as of Q3 2018.
2015 equals 100 in the index.

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