What the price-to-rent ratio is
OECD house-price-to-rent ratios. Prices relative to rents, not a transaction price. Ranked by each economy’s latest quarter.
Source: OECD Analytical House Prices. Licence: OECD data; attribution required (terms).
Price-to-rent ratio
Every licensed economy, ranked by the latest quarter. Click a country in the list or the chart legend to show or hide it. Country desks cover a smaller set.
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| Period | Price/rent |
|---|---|
| Q1 2026 | 207.4 |
| Q4 2025 | 202.4 |
| Q3 2025 | 195.6 |
| Q2 2025 | 190.5 |
| Q1 2025 | 185.1 |
| Q4 2024 | 178.8 |
| Q3 2024 | 174.7 |
| Q2 2024 | 171.0 |
| Q1 2024 | 168.5 |
| Q4 2023 | 171.9 |
| Q3 2023 | 170.6 |
| Q2 2023 | 169.8 |
| Q1 2023 | 167.5 |
| Q4 2022 | 167.6 |
| Q3 2022 | 166.3 |
| Q2 2022 | 163.1 |
| Q1 2022 | 159.9 |
| Q4 2021 | 155.5 |
| Q3 2021 | 151.3 |
| Q2 2021 | 147.7 |
| Q1 2021 | 144.4 |
| Q4 2020 | 142.1 |
| Q3 2020 | 138.4 |
| Q2 2020 | 139.2 |
#CountryPrice/rentChangePeriod
1Portugal207.4+5.0 (+2.5%)Q1 2026
2Hungary181.4-8.6 (-4.5%)Q1 2026
3Mexico174.4+0.8 (+0.5%)Q2 2026
4Latvia171.5+0.9 (+0.5%)Q1 2026
5Spain168.9+4.3 (+2.6%)Q1 20266Czechia168.8+1.3 (+0.8%)Q1 2026
7Croatia168.2+6.6 (+4.1%)Q1 2025
8Netherlands166.5+0.2 (+0.1%)Q4 20259Bulgaria166.4-0.8 (-0.5%)Q4 2025
10Slovakia163.1+0.3 (+0.2%)Q4 2025
11Greece157.0+0.2 (+0.1%)Q4 2025
12Lithuania150.5+2.9 (+2.0%)Q2 2026
13Iceland146.8-0.9 (-0.6%)Q4 2025
14Luxembourg143.5+0.8 (+0.5%)Q1 2026
15Japan139.7+1.6 (+1.1%)Q4 202516Estonia137.1+3.0 (+2.2%)Q1 2026
17Denmark136.0+3.6 (+2.7%)Q1 2026
18Chile134.2+0.4 (+0.3%)Q4 2023
19Australia133.9+3.0 (+2.3%)Q3 202520United States133.2+0.5 (+0.4%)Q4 202421Switzerland131.9+1.3 (+1.0%)Q2 202622Euro area130.2+0.9 (+0.7%)Q4 202523Slovenia130.1+2.6 (+2.0%)Q1 2026
24Germany129.5-0.1 (-0.1%)Q1 202625Colombia129.0+0.6 (+0.5%)Q1 2026
26Israel126.2-1.6 (-1.2%)Q1 2026
27Türkiye125.3-6.1 (-4.7%)Q2 2026
28Poland125.2+0.9 (+0.7%)Q4 2025
29New Zealand121.4-1.4 (-1.1%)Q4 202530Norway119.7-0.6 (-0.5%)Q2 202631Canada119.4-3.2 (-2.6%)Q2 202632Ireland115.5+0.4 (+0.3%)Q1 202633Austria113.2+0.8 (+0.7%)Q4 2025
34France113.1-1.5 (-1.3%)Q2 202635Belgium109.9-1.0 (-0.9%)Q1 2026
36United Kingdom109.9-0.2 (-0.2%)Q2 202637Romania107.0+0.9 (+0.8%)Q1 2025
38Sweden106.3-0.2 (-0.2%)Q1 202639Italy103.5+0.3 (+0.3%)Q4 202540South Africa102.8+0.5 (+0.4%)Q4 2025
41Korea102.4+0.2 (+0.2%)Q1 202542Finland82.7-0.3 (-0.3%)Q1 2026
What this measure means and how to read it
The price-to-rent ratio compares house prices with rents. The OECD compiles it from national house-price and rent indexes on a 2015=100 base; Younivi republishes the OECD measure. A value above 100 means prices have risen faster than rents since 2015. It is a yield-style comparison, not a property's sale price or the actual return received by an investor.
Use changes over time to see whether buying prices have moved ahead of rental income. A rising ratio can point to a lower gross rental yield if other factors stay equal. The change since 2015 is more useful than comparing raw levels across economies with different rental markets, tax rules and dwelling mixes.
The ratio excludes mortgage rates, maintenance, vacancies, taxes and other running costs. Average rents can hide large differences between cities and kinds of housing. A high ratio does not by itself predict falling prices, and a low ratio does not make housing cheap in cash terms.
For a comparison with the price-to-income ratio, see the Younivi note Price-to-income versus price-to-rent.