Comparative Study of Price to Rent Ratio Outside of the City Centre

Our comparative study focuses on the price to rent ratio outside of the city center, providing valuable insights into the financial feasibility of renting in these areas. By examining property prices and rental rates in different locations, we help you assess the affordability and investment potential of renting outside the city center.

As of January 2021, Taipei, Shenzhen, and Seoul exhibited the highest price to rent ratios outside of the city center, with ratios of 73.3, 71.9, and 70.2, respectively. These ratios suggest relatively high property prices compared to rental rates in these areas. On the other hand, Cleveland, Lagos, and Detroit showcased lower ratios, indicating a more favorable rental market outside the city center.

By January 2022, Accra emerged as the location with the highest price to rent ratio outside of the city center, standing at 281.4. Shenzhen and Seoul followed closely, indicating high property prices relative to rental rates. Yangon, Memphis, and Lagos exhibited lower ratios, suggesting a relatively more affordable rental market outside the city center.

Moving to January 2023, Shenzhen claimed the top spot with a price to rent ratio of 81.2 outside of the city center. Taipei and Guangzhou secured the second and third positions, respectively. Ahmedabad, Yangon, and Lagos showcased lower ratios, indicating a relatively more favorable rental market in terms of price to rent ratio.

Analyzing the price to rent ratio outside of the city center allows you to assess the affordability and investment potential of renting in different areas. It helps you understand the relationship between property prices and rental rates outside the city center, enabling you to make informed decisions about renting and investment opportunities.

Price to Rent Ratio Outside of City Centre January 2023 (Ratio, January 2023)

Playstation 5 Amazon
City Country Ratio
1 Shenzhen China 81.2
2 Taipei Taiwan 75.2
3 Guangzhou China 69.9
4 Seoul South Korea 69
5 Shanghai China 62.2
6 Beijing China 61
7 Hong Kong China 58.8
8 Hangzhou China 55.1
9 Macao Macau 43
10 Jerusalem Israel 42
11 HsinChu Taiwan 41.7
12 Colombo Sri Lanka 40.7
13 Buenos Aires Argentina 40
14 Munich Germany 39.7
14 Paris France 39.7
15 Nuremberg Germany 39.5
16 Dubrovnik Croatia 39.4
17 Chengdu China 38.7
18 Kaohsiung Taiwan 38
19 Algiers Algeria 37.6
20 Frankfurt Germany 37.4
20 Split Croatia 37.4
21 Mumbai India 37.2
22 Manila Philippines 36.9
23 Taichung Taiwan 36.7
23 Tel Aviv-Yafo Israel 36.7
24 Stuttgart Germany 36.5
25 Brno Czech Republic 36.4
26 Innsbruck Austria 36
27 Plzen Czech Republic 35.8
28 Dusseldorf Germany 35.2
29 Tokyo Japan 35.1
30 Tuzla Bosnia and Herzegovina 34.8
31 Prague Czech Republic 34.6
32 Vienna Austria 34.4
33 Lyon France 34.1
34 Cluj-Napoca Romania 33.6
35 Kathmandu Nepal 33.4
36 Saint Petersburg Russia 32.8
37 Banja Luka Bosnia and Herzegovina 32.6
37 Bratislava Slovakia 32.6
38 Sarajevo Bosnia and Herzegovina 32.4
39 Graz Austria 32.2
40 Kochi India 32.1
41 Debrecen Hungary 32
42 Nis Serbia 31.9
43 Hamburg Germany 31.5
44 Heidelberg Germany 31.4
45 Olomouc Czech Republic 31.3
45 Zurich Switzerland 31.3
46 Stockholm Sweden 31.2
47 Haifa Israel 31.1
48 Krasnodar Russia 31
49 Zadar Croatia 30.9
50 Luxembourg Luxembourg 30.8
51 Lucknow (Lakhnau) India 30.6
52 Moscow Russia 30.5
53 Oslo Norway 30
53 Bolzano-Bozen Italy 30
54 Basel Switzerland 29.8
54 Nizhny Novgorod Russia 29.8
55 Geneva Switzerland 29.7
56 Bangkok Thailand 29.6
57 Skopje North Macedonia 29.1
58 Zagreb Croatia 29
59 Ramat Gan Israel 28.9
60 Voronezh Russia 28.8
60 Osijek Croatia 28.8
60 Pune India 28.8
61 Tromso Norway 28.7
62 Budapest Hungary 28.4
63 Ho Chi Minh City Vietnam 28.3
63 Perm Russia 28.3
64 Sydney Australia 28.2
65 Ljubljana Slovenia 28
66 Delhi India 27.9
67 Kosice Slovakia 27.8
68 Aalborg Denmark 27.7
69 Berlin Germany 27.5
70 Kazan Russia 27.4
70 Oradea Romania 27.4
71 Eskisehir Turkey 27.1
71 Indore India 27.1
72 Trondheim Norway 26.9
73 Saint Helier United Kingdom 26.7
74 Melbourne Australia 26.6
74 Novi Sad Serbia 26.6
74 Ufa Russia 26.6
75 Victoria Canada 26.5
76 Shiraz Iran 26.2
77 Surabaya Indonesia 26.1
77 Tallinn Estonia 26.1
77 Tampere Finland 26.1
78 Linz Austria 26
79 Helsinki Finland 25.9
79 Stavanger Norway 25.9
80 Dhaka Bangladesh 25.8
80 Toulouse France 25.8
81 Kaliningrad Russia 25.7
82 Samara Russia 25.5
82 Vancouver Canada 25.5
83 Auckland New Zealand 25.4
83 Florence Italy 25.4
84 Brisbane Australia 25.2
85 Chennai India 25.1
85 Curitiba Brazil 25.1
86 Grenoble France 25
86 Iasi Romania 25
86 Timisoara Romania 25
87 Athens Greece 24.8
87 Gothenburg Sweden 24.8
88 Espoo Finland 24.7
88 Toronto Canada 24.7
89 Groningen Netherlands 24.6
90 Hanoi Vietnam 24.5
91 Brasilia Brazil 24.2
91 Nice France 24.2
92 Penang Malaysia 24.1
93 Chittagong Bangladesh 24
93 Kaunas Lithuania 24
93 Poznan Poland 24
94 Vilnius Lithuania 23.9
94 Rijeka Croatia 23.9
95 Kolkata India 23.8
95 London United Kingdom 23.8
95 Tartu Estonia 23.8
96 Santiago Chile 23.7
96 Bialystok Poland 23.7
97 Gdansk Poland 23.4
97 Milan Italy 23.4
98 Krakow (Cracow) Poland 23.3
99 Constanta Romania 23.2
100 Ostrava Czech Republic 23
100 Wellington New Zealand 23
101 Sibiu Romania 22.9
101 Podgorica Montenegro 22.9
102 Mersin Turkey 22.8
102 Craiova Romania 22.8
103 Sofia Bulgaria 22.7
104 Arhus Denmark 22.6
105 Gurgaon India 22.5
106 Madrid Spain 22.3
107 Bhubaneswar India 22.2
108 Coimbatore India 22
108 Yekaterinburg Russia 22
109 Gdynia Poland 21.9
109 Thessaloniki Greece 21.9
109 Aberdeen United Kingdom 21.9
109 Bologna Italy 21.9
110 Haarlem Netherlands 21.8
110 Katowice Poland 21.8
111 Edinburgh United Kingdom 21.7
111 Belo Horizonte Brazil 21.7
112 Hyderabad India 21.6
112 Bogota Colombia 21.6
112 Bucharest Romania 21.6
113 Sao Paulo Brazil 21.5
113 Rome Italy 21.5
113 Novosibirsk Russia 21.5
114 Bangalore India 21.4
114 Guayaquil Ecuador 21.4
114 Malmo Sweden 21.4
115 Singapore Singapore 21.3
115 Belgrade Serbia 21.3
116 Lodz Poland 21.1
117 Odessa (Odesa) Ukraine 21
118 Rio de Janeiro Brazil 20.9
118 Coventry United Kingdom 20.9
119 Maribor Slovenia 20.8
120 Warsaw Poland 20.7
120 Noida India 20.7
121 Medellin Colombia 20.6
121 Vladivostok Russia 20.6
122 Belfast United Kingdom 20.5
122 Riga Latvia 20.5
123 Porto Alegre Brazil 20.4
123 Kuwait City Kuwait 20.4
123 Montreal Canada 20.4
123 Copenhagen Denmark 20.4
124 Perth Australia 20.3
125 Bergen Norway 20.2
125 Johor Bahru Malaysia 20.2
126 Mississauga Canada 20.1
126 Karachi Pakistan 20.1
127 Petaling Jaya Malaysia 19.9
128 Wroclaw Poland 19.7
128 Barranquilla Colombia 19.7
129 The Hague (Den Haag) Netherlands 19.6
129 Utrecht Netherlands 19.6
129 La Paz Bolivia 19.6
129 Minsk Belarus 19.6
129 Tunis Tunisia 19.6
130 Seville (Sevilla) Spain 19.5
130 Amsterdam Netherlands 19.5
131 Brussels Belgium 19.3
131 Szczecin Poland 19.3
131 Rabat Morocco 19.3
131 Jakarta Indonesia 19.3
132 Montevideo Uruguay 19.2
132 Brasov Romania 19.2
133 Lima Peru 19.1
133 Kuala Lumpur Malaysia 19.1
134 Plovdiv Bulgaria 19
135 Varna Bulgaria 18.9
136 Phnom Penh Cambodia 18.8
136 Bursa Turkey 18.8
136 Mashhad Iran 18.8
137 San Francisco United States 18.7
137 Turin Italy 18.7
138 Lisbon Portugal 18.6
139 New York United States 18.5
140 Manchester United Kingdom 18.4
140 Tirana Albania 18.4
141 Quito Ecuador 18.3
142 Malaga Spain 18.2
143 Barcelona Spain 18.1
143 Antwerp Belgium 18.1
144 Baku Azerbaijan 18
145 Coimbra Portugal 17.9
146 San Jose United States 17.7
146 Izmir Turkey 17.7
146 Glasgow United Kingdom 17.7
147 Casablanca Morocco 17.6
147 Pristina Kosovo 17.6
147 Eindhoven Netherlands 17.6
148 Bandung Indonesia 17.5
149 Gent Belgium 17.4
150 San Diego United States 17.2
150 Turku Finland 17.2
150 Reykjavik Iceland 17.2
151 Dnipro Ukraine 17.1
151 Ulaanbaatar Mongolia 17.1
152 Marrakech Morocco 16.9
152 Liverpool United Kingdom 16.9
153 Mexico City Mexico 16.8
153 Quebec City Canada 16.8
154 Kiev (Kyiv) Ukraine 16.7
155 Ad Dammam Saudi Arabia 16.5
156 Nanaimo Canada 16.3
156 Baghdad Iraq 16.3
157 Caracas Venezuela 16.1
158 Santo Domingo Dominican Republic 16
159 Porto Portugal 15.9
160 Chisinau Moldova 15.8
161 Lahore Pakistan 15.7
162 Kharkiv Ukraine 15.6
163 Cuenca Ecuador 15.5
163 Honolulu United States 15.5
164 Istanbul Turkey 15.4
164 Merida Mexico 15.4
165 Addis Ababa Ethiopia 15.2
165 Lviv Ukraine 15.2
166 Santa Cruz Bolivia 15.1
167 Bishkek Kyrgyzstan 15
168 Boston United States 14.5
168 Canberra Australia 14.5
169 Valencia Spain 14.3
170 Ankara Turkey 14.2
171 Cairo Egypt 14
171 Los Angeles United States 14
171 Nicosia Cyprus 14
172 Adelaide Australia 13.9
172 Amman Jordan 13.9
172 Tripoli Libya 13.9
173 Asuncion Paraguay 13.8
173 Columbus United States 13.8
174 Beirut Lebanon 13.7
174 Calgary Canada 13.7
174 Rotterdam Netherlands 13.7
175 San Antonio United States 13.6
175 Doha Qatar 13.6
175 Jeddah (Jiddah) Saudi Arabia 13.6
176 Cape Town South Africa 13.5
176 Islamabad Pakistan 13.5
177 Nairobi Kenya 13.4
178 San Jose United States 13.3
179 Seattle United States 13.1
180 Abu Dhabi United Arab Emirates 12.9
180 Tehran Iran 12.9
181 Dublin Ireland 12.8
181 Monterrey Mexico 12.8
182 Alexandria Egypt 12.7
182 Astana (Nur-Sultan) Kazakhstan 12.7
183 Faisalabad Pakistan 12.2
184 Durban South Africa 12
184 Edmonton Canada 12
184 Muscat Oman 12
185 Albuquerque United States 11.5
185 Portland United States 11.5
185 Quezon City Philippines 11.5
186 Cork Ireland 11.4
186 Panama City Panama 11.4
186 Raleigh United States 11.4
186 Riyadh Saudi Arabia 11.4
187 Almaty Kazakhstan 11.3
187 Surat India 11.3
188 Guatemala City Guatemala 11.1
189 Reno United States 11
190 Christchurch New Zealand 10.9
191 Austin United States 10.8
191 Ramallah Palestine 10.8
192 Jacksonville United States 10.5
193 Guadalajara Mexico 10.3
194 Dubai United Arab Emirates 10.2
195 Las Vegas United States 10.1
196 Larnaca Cyprus 9.9
197 Isfahan (Esfahan) Iran 9.6
198 Denver United States 9.5
198 Salt Lake City United States 9.5
199 Limassol Cyprus 9.4
200 Tashkent Uzbekistan 8.9
201 Chicago United States 8.8
202 Batumi Georgia 8.3
203 Tbilisi Georgia 8.1
204 Charlotte United States 8
204 Johannesburg South Africa 8
204 Yerevan Armenia 8
205 Pretoria South Africa 7.9
206 Phoenix United States 7.8
207 Antalya Turkey 7.7
208 Nashville United States 7.5
208 Tampa United States 7.5
209 Atlanta United States 7.4
209 Fort Lauderdale United States 7.4
210 Miami United States 7.3
211 Orlando United States 7
211 San Juan United States 7
212 Dallas United States 6.9
213 Houston United States 6.8
214 Ahmedabad India 4.5
215 Yangon Myanmar 2.7
216 Lagos Nigeria 1.4

Data from Numbeo

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