Portugal, Canada, and the United States were the countries with the highest house price to income ratio in 2024. In all three countries, the index exceeded 130 index points, while the average for all OECD countries stood at 116.2 index points. The index measures the development of housing affordability and is calculated by dividing nominal house price by nominal disposable income per head, with 2015 set as a base year when the index amounted to 100. An index value of 120, for example, would mean that house price growth has outpaced income growth by 20 percent since 2015. How have house prices worldwide changed since the COVID-19 pandemic? House prices started to rise gradually after the global financial crisis (2007–2008), but this trend accelerated with the pandemic. The countries with advanced economies, which usually have mature housing markets, experienced stronger growth than countries with emerging economies. Real house price growth (accounting for inflation) peaked in 2022 and has since lost some of the gain. Although, many countries experienced a decline in house prices, the global house price index shows that property prices in 2023 were still substantially higher than before COVID-19. Renting vs. buying In the past, house prices have grown faster than rents. However, the home affordability has been declining notably, with a direct impact on rental prices. As people struggle to buy a property of their own, they often turn to rental accommodation. This has resulted in a growing demand for rental apartments and soaring rental prices.

The house price to income ratio in the United States has reached concerning levels, with the index hitting ***** in the fourth quarter of 2024. This indicates that house prices have outpaced income growth by over ** percent since 2015, highlighting a growing affordability crisis in the housing market. The widening gap between home prices and wages is putting homeownership out of reach for many Americans, particularly as real wages have remained stagnant. Rising home prices and stagnant wages While average annual real wages in the United States have increased slightly since 2014, home prices have soared. The median sales price of existing single-family homes reached a record-high in 2024, representing a substantial increase over the past five years. This disparity between wage growth and home price appreciation has led to a significant decrease in housing affordability across the country. Affordability challenges in the U.S. housing market The U.S. Housing Affordability Index, which measures whether a family earning the median income can afford a median-priced home, plummeted in 2024, marking the second-worst year for homebuyers since records began. This decline in affordability is reflected in homebuyer sentiment, with homebuyer sentiment plummeting.

United States US: Price to Income Ratio: sa data was reported at 130.892 2015=100 in 2024. This records an increase from the previous number of 129.315 2015=100 for 2023. United States US: Price to Income Ratio: sa data is updated yearly, averaging 113.539 2015=100 from Dec 1970 (Median) to 2024, with 55 observations. The data reached an all-time high of 132.929 2015=100 in 1979 and a record low of 90.287 2015=100 in 2012. United States US: Price to Income Ratio: sa data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s United States – Table US.OECD.AHPI: House Price Index: Seasonally Adjusted: OECD Member: Annual. Nominal house prices divided by nominal disposable income per head. Net household disposable income is used. The population data come from the OECD national accounts database.

Japan JP: Standardised Price-Income Ratio: sa data was reported at 87.536 Ratio in 2024. This records a decrease from the previous number of 89.289 Ratio for 2023. Japan JP: Standardised Price-Income Ratio: sa data is updated yearly, averaging 113.262 Ratio from Dec 1960 (Median) to 2024, with 65 observations. The data reached an all-time high of 163.202 Ratio in 1973 and a record low of 73.471 Ratio in 2009. Japan JP: Standardised Price-Income Ratio: sa data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Japan – Table JP.OECD.AHPI: House Price Index: Seasonally Adjusted: OECD Member: Annual. Nominal house prices divided by nominal disposable income per head. Net household disposable income is used. The population data come from the OECD national accounts database. The long-term average is calculated over the whole period available when the indicator begins after 1980 or after 1980 if the indicator is longer. This value is used as a reference value. The ratio is calculated by dividing the indicator source on this long-term average, and indexed to a reference value equal to 100.

The house price to income index in Europe declined in almost all European countries in 2023, indicating that income grew faster than house prices. Portugal, Luxembourg, and the Netherlands led the house price to income index ranking in 2023, with values exceeding *** index points. Romania, Bulgaria, and Finland were on the other side of the spectrum, with less than 100 index points. The house price to income ratio is an indicator for the development of housing affordability 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. A ratio higher than 100 means that the nominal house price growth since 2015 has outpaced the nominal disposable income growth, and housing is therefore comparatively less affordable. In 2023, the OECD average stood at ***** index points.

The Housing Affordability Index, calculated by the Runstad Center for Real Estate Studies, measures the ability of a middle-income family to carry the mortgage payments on a median-price home. When the index is 100 there is a balance between the family’s ability to pay and the cost. Higher indexes indicate housing is more affordable.

For example, an index of 126 means that a median-income family has 26 percent more income than the bare minimum required to qualify for a mortgage on a median-price home. An index of 80 means that a median-income family has less income than the minimum required.

Israel IL: Price to Income Ratio: sa data was reported at 104.421 2015=100 in 2016. This records an increase from the previous number of 100.000 2015=100 for 2015. Israel IL: Price to Income Ratio: sa data is updated yearly, averaging 91.925 2015=100 from Dec 1995 (Median) to 2016, with 22 observations. The data reached an all-time high of 109.755 2015=100 in 1997 and a record low of 70.115 2015=100 in 2007. Israel IL: Price to Income Ratio: sa data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Israel – Table IL.OECD.AHPI: House Price Index: Seasonally Adjusted: OECD Member: Annual. Nominal house prices divided by nominal disposable income per head. Net household disposable income is used. The population data come from the OECD national accounts database.

Australia Standardised Price-Income Ratio: sa data was reported at 149.268 Ratio in Dec 2024. This records a decrease from the previous number of 152.371 Ratio for Sep 2024. Australia Standardised Price-Income Ratio: sa data is updated quarterly, averaging 82.643 Ratio from Mar 1970 (Median) to Dec 2024, with 220 observations. The data reached an all-time high of 153.422 Ratio in Jun 2024 and a record low of 62.554 Ratio in Sep 1983. Australia Standardised Price-Income Ratio: sa data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Australia – Table AU.OECD.AHPI: House Price Index: Seasonally Adjusted: OECD Member: Quarterly. Nominal house prices divided by nominal disposable income per head. Net household disposable income is used. The population data come from the OECD national accounts database. The long-term average is calculated over the whole period available when the indicator begins after 1980 or after 1980 if the indicator is longer. This value is used as a reference value. The ratio is calculated by dividing the indicator source on this long-term average, and indexed to a reference value equal to 100.

Graph and download economic data for Median Sales Price of Houses Sold for the United States (MSPUS) from Q1 1963 to Q1 2025 about sales, median, housing, and USA.

Affordability ratios calculated by dividing house prices by gross annual residence-based earnings. Based on the median and lower quartiles of both house prices and earnings in England and Wales.

Germany DE: Standardised Price-Income Ratio: sa data was reported at 88.538 Ratio in 2024. This records a decrease from the previous number of 93.578 Ratio for 2023. Germany DE: Standardised Price-Income Ratio: sa data is updated yearly, averaging 95.901 Ratio from Dec 1980 (Median) to 2024, with 45 observations. The data reached an all-time high of 146.141 Ratio in 1981 and a record low of 76.343 Ratio in 2010. Germany DE: Standardised Price-Income Ratio: sa data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Germany – Table DE.OECD.AHPI: House Price Index: Seasonally Adjusted: OECD Member: Annual. Nominal house prices divided by nominal disposable income per head. Net household disposable income is used. The population data come from the OECD national accounts database. The long-term average is calculated over the whole period available when the indicator begins after 1980 or after 1980 if the indicator is longer. This value is used as a reference value. The ratio is calculated by dividing the indicator source on this long-term average, and indexed to a reference value equal to 100.

Portugal, the Netherlands and Austria are among the countries where house prices grew the most in comparison to income since 2015. In the fourth quarter of 2024, the house price to income ratio in the Netherlands and Austria exceeded *** index points, indicating that since 2015, house price growth has outpaced income growth by ** percent. In Portugal, the index amounted to *** index points in the same period. This was not the case in all countries in the ranking: In Finland, Bulgaria, and Romania, the opposite trend was observed, showing that incomes grew faster than house prices. The house price to income ratio is calculated as the nominal house prices divided by nominal income per capita, with 2015 chosen as the base year of the index. The ratio signifies the development of housing affordability, with higher figures meaning housing is more unaffordable. There are other indices, such as RHPI (or house price indices corrected by inflation rates) which look at this as well.

Housing Index in Spain increased to 2033 EUR/SQ. METRE in the first quarter of 2025 from 1972.10 EUR/SQ. METRE in the fourth quarter of 2024. This dataset provides the latest reported value for - Spain House Prices - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Graph and download economic data for Real Residential Property Prices for United States (QUSR628BIS) from Q1 1970 to Q1 2025 about residential, HPI, housing, real, price index, indexes, price, and USA.

Annual house price data based on a sub-sample of the Regulated Mortgage Survey.

Housing Index in Hong Kong decreased to 136.44 points in July 13 from 136.68 points in the previous week. This dataset provides - Hong Kong House Price Index - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Graph and download economic data for Consumer Price Index for All Urban Wage Earners and Clerical Workers: Housing in U.S. City Average (CWSR0000SAH) from Jan 1967 to May 2025 about clerical workers, urban, wages, CPI, housing, inflation, price index, indexes, price, and USA.

Housing Index in Poland increased to 213.20 points in the first quarter of 2025 from 211.65 points in the fourth quarter of 2024. This dataset provides the latest reported value for - Poland Housing Index - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

In 2023, Ahmedabad had the most affordable housing market of the eight biggest metropolitan areas in India with a proportion of ** percent of income to monthly instalment of a housing unit. In Mumbai the affordability index was at ** percent, the only city with higher than threshold affordability ratio set at ** percent. However, the affordability index has significantly improved from pre-pandemic times in 2019 for many cities including Mumbai, Bengaluru and NCR.

This indicator is defined as the ratio of the average house price (detached, semi-detached, terraced, flat/maisonette) in a local authority to the average, gross, full time annual earnings in a local authority. The purpose of this indicator is to monitor progress towards improving housing opportunities and affordable housing. It measures the relationship between average full time earnings and average house prices within an area and therefore provides an indication of how affordable housing is in that area. The ratio using residence based earnings information measures how affordable housing is for those living in the area, the indicator using workplace earnings information measures how affordable local housing is for those working in the area. The two together provide a picture of the different circumstances of those living or working in an area. Monitored over time this indicator will measure how quickly housing costs are increasing relative to the increase in average earnings. The indicator has limitations as it does not measure the affordability of privately rented or social housing. In addition, it only measures the income of people working full time and excludes part time workers, those who are self-employed and those claiming benefits. Information on those claiming benefits are measured by indicators 1.1, 1.2, 1.3 and 1.6 in the local basket of inequalities indicators. Nevertheless this indicator provides an indication of the overall housing opportunities in an area. This indicator has been discontinued and so there will be no further updates. Legacy unique identifier: P01086