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 second quarter of 2025. This indicates that house prices have outpaced income growth by *****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.

The standardised house price-to-income ratio is defined as the ratio of the current price to income ratio relative to the long-term average price-to-income ratio, calculated over the period 2000 to the most recent data available. If the ratio equals 100, it means the current price-to-income ratio is equal to its long term average. House prices are provided by Eurostat, and income is calculated as adjusted household gross disposable income (B7G) per head of population based on Eurostat data.

The house price to income ratio in Germany stood at ***** points in the second quarter of 2025. This is higher than the observation from the second quarter one year earlier, when the ratio had been ***** points.

The house price to income ratio in Italy was 86.85 points in the first quarter of 2025. This is higher than the observation from the first quarter one year earlier, when the ratio had been 86.72 points.

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.

Switzerland Price to Income Ratio: sa data was reported at 125.810 2015=100 in 2024. This records an increase from the previous number of 124.006 2015=100 for 2023. Switzerland Price to Income Ratio: sa data is updated yearly, averaging 110.203 2015=100 from Dec 1970 (Median) to 2024, with 55 observations. The data reached an all-time high of 142.115 2015=100 in 1989 and a record low of 72.862 2015=100 in 2001. Switzerland 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 Switzerland – Table CH.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.

Residents buyers who are persons that purchased a residential property in a market sale and filed their T1 tax return form, as well as total income, family total income, sale price, price-to-income ratio, and age, by the number of buyers, age group, first-time home buyer status, and buyer characteristics (sex, family type, immigration status, period of immigration, admission category).

Hungary increased 9% of House Price to Income Ratio in 2019, from a year earlier.

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.

The house price to income ratio in Canada peaked in the second quarter of 2022, followed by a decline until the second quarter of 2025. The ratio 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. Canada's index score in the second quarter of 2025 amounted to *****, which means that house price growth has outpaced income growth by almost **** percent since 2015. Canadian home prices continue to grow House prices in Canada have steadily increased over the past decade, despite a very mild decline in 2023. This trend is forecast to continue until 2026, albeit at a lower rate than in the period between 2019 and 2022. In British Columbia, which has consistently been the most expensive province for housing, the average house price is expected to reach nearly *** million Canadian dollars in 2026. The rising homeownership costs have also affected rents. In 2024, the average two-bedroom apartment rent in Vancouver exceeded ***** Canadian dollars. Canadian incomes on the rise Incomes in Canada have steadily risen since 2000 and show no signs of slowing down in the near future. This should improve housing affordability, as long as home price growth slows down.

Japan JP: Standardised Price-Income Ratio: sa data was reported at 87.580 Ratio in 2024. This records a decrease from the previous number of 89.402 Ratio for 2023. Japan JP: Standardised Price-Income Ratio: sa data is updated yearly, averaging 128.381 Ratio from Dec 1960 (Median) to 2024, with 65 observations. The data reached an all-time high of 163.402 Ratio in 1973 and a record low of 73.561 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.

Global House Standardised Price-Income Ratio by Country, 2023 Discover more data with ReportLinker!

Context

This dataset is created via OECD datasource which is consisted of 2000 between 2020. https://data.oecd.org/price/housing-prices.htm

Content

The housing prices indicator shows indices of residential property prices over time. Included are rent prices, real and nominal house prices, and ratios of price to rent and price to income; the main elements of housing costs. In most cases, the nominal house price covers the sale of newly-built and existing dwellings, following the recommendations from RPPI (Residential Property Prices Indices) manual. The real house price is given by the ratio of nominal price to the consumers’ expenditure deflator in each country, both seasonally adjusted, from the OECD national accounts database. The price to income ratio is the nominal house price divided by the nominal disposable income per head and can be considered as a measure of affordability. The price to rent ratio is the nominal house price divided by the rent price and can be considered as a measure of the profitability of house ownership. This indicator is an index with base year 2015.

The housing affordability measure illustrates the relationship between income and housing costs. A household that spends 30% or more of its collective monthly income to cover housing costs is considered to be “housing cost-burden[ed].”[1] Those spending between 30% and 49.9% of their monthly income are categorized as “moderately housing cost-burden[ed],” while those spending more than 50% are categorized as “severely housing cost-burden[ed].”[2]

How much a household spends on housing costs affects the household’s overall financial situation. More money spent on housing leaves less in the household budget for other needs, such as food, clothing, transportation, and medical care, as well as for incidental purchases and saving for the future.

The estimated housing costs as a percentage of household income are categorized by tenure: all households, those that own their housing unit, and those that rent their housing unit.

Throughout the period of analysis, the percentage of housing cost-burdened renter households in Champaign County was higher than the percentage of housing cost-burdened homeowner households in Champaign County. All three categories saw year-to-year fluctuations between 2005 and 2023, and none of the three show a consistent trend. However, all three categories were estimated to have a lower percentage of housing cost-burdened households in 2023 than in 2005.

Data on estimated housing costs as a percentage of monthly income was sourced from the U.S. Census Bureau’s American Community Survey (ACS) 1-Year Estimates, which are released annually.

As with any datasets that are estimates rather than exact counts, it is important to take into account the margins of error (listed in the column beside each figure) when drawing conclusions from the data.

Due to the impact of the COVID-19 pandemic, instead of providing the standard 1-year data products, the Census Bureau released experimental estimates from the 1-year data in 2020. This includes a limited number of data tables for the nation, states, and the District of Columbia. The Census Bureau states that the 2020 ACS 1-year experimental tables use an experimental estimation methodology and should not be compared with other ACS data. For these reasons, and because data is not available for Champaign County, no data for 2020 is included in this Indicator.

For interested data users, the 2020 ACS 1-Year Experimental data release includes a dataset on Housing Tenure.

[1] Schwarz, M. and E. Watson. (2008). Who can afford to live in a home?: A look at data from the 2006 American Community Survey. U.S. Census Bureau.

[2] Ibid.

Sources: U.S. Census Bureau; American Community Survey, 2023 American Community Survey 1-Year Estimates, Table B25106; generated by CCRPC staff; using data.census.gov; (17 October 2024).; U.S. Census Bureau; American Community Survey, 2022 American Community Survey 1-Year Estimates, Table B25106; generated by CCRPC staff; using data.census.gov; (22 September 2023).; U.S. Census Bureau; American Community Survey, 2021 American Community Survey 1-Year Estimates, Table B25106; generated by CCRPC staff; using data.census.gov; (30 September 2022).; U.S. Census Bureau; American Community Survey, 2019 American Community Survey 1-Year Estimates, Table B25106; generated by CCRPC staff; using data.census.gov; (10 June 2021).; U.S. Census Bureau; American Community Survey, 2018 American Community Survey 1-Year Estimates, Table B25106; generated by CCRPC staff; using data.census.gov; (10 June 2021).;U.S. Census Bureau; American Community Survey, 2017 American Community Survey 1-Year Estimates, Table B25106; generated by CCRPC staff; using American FactFinder; (13 September 2018).; U.S. Census Bureau; American Community Survey, 2016 American Community Survey 1-Year Estimates, Table B25106; generated by CCRPC staff; using American FactFinder; (14 September 2017).; U.S. Census Bureau; American Community Survey, 2015 American Community Survey 1-Year Estimates, Table B25106; generated by CCRPC staff; using American FactFinder; (19 September 2016).; U.S. Census Bureau; American Community Survey, 2014 American Community Survey 1-Year Estimates, Table B25106; generated by CCRPC staff; using American FactFinder; (16 March 2016).; U.S. Census Bureau; American Community Survey, 2013 American Community Survey 1-Year Estimates, Table B25106; generated by CCRPC staff; using American FactFinder; (16 March 2016).; U.S. Census Bureau; American Community Survey, 2012 American Community Survey 1-Year Estimates, Table B25106; generated by CCRPC staff; using American FactFinder; (16 March 2016).; U.S. Census Bureau; American Community Survey, 2011 American Community Survey 1-Year Estimates, Table B25106; generated by CCRPC staff; using American FactFinder; (16 March 2016).; U.S. Census Bureau; American Community Survey, 2010 American Community Survey 1-Year Estimates, Table B25106; generated by CCRPC staff; using American FactFinder; (16 March 2016).; U.S. Census Bureau; American Community Survey, 2009 American Community Survey 1-Year Estimates, Table B25106; generated by CCRPC staff; using American FactFinder; (16 March 2016).; U.S. Census Bureau; American Community Survey, 2008 American Community Survey 1-Year Estimates, Table B25106; generated by CCRPC staff; using American FactFinder; 16 March 2016).; U.S. Census Bureau; American Community Survey, 2007 American Community Survey 1-Year Estimates, Table B25106; generated by CCRPC staff; using American FactFinder; (16 March 2016).; U.S. Census Bureau; American Community Survey, 2006 American Community Survey 1-Year Estimates, Table B25106; generated by CCRPC staff; using American FactFinder; (16 March 2016).; U.S. Census Bureau; American Community Survey, 2005 American Community Survey 1-Year Estimates, Table B25106; generated by CCRPC staff; using American FactFinder; (16 March 2016).

The house price to income ratio in Spain stood at ****** points in the first quarter of 2025. This is higher than the observation from the first quarter one year earlier, when the ratio had been ****** points.

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

Negative Equity in U.S. Housing Market

Measuring Home Values, Debt, and Credit Risk

By Zillow Data [source]

About this dataset

This dataset, Negative Equity in the US Housing Market, provides an in-depth look into the negative equity occurring across the United States during this single quarter. Included are metrics such as total amount of negative equity in millions of dollars, total number of homes in negative equity, percentage of homes with mortgages that are in negative equity and more. These data points provide helpful insights into both regional and national trends regarding the prevalence and rate of home mortgage delinquency stemming from a diminishment of value from peak levels.

Home types available for analysis include 'all homes', condos/co-ops, multifamily units containing five or more housing units as well as duplexes/triplexes. Additionally, Cash buyers rates for particular areas can also be determined by referencing this collection. Further metrics such as mortgage affordability rates and impacts on overall indebtedness are readily calculated using information related to Zillow's Home Value Index (ZHVI) forecast methodology and TransUnion data respectively.

Other variables featured within this dataset include characteristics like region type (i.e city, county ..etc), size rank based on population values , percentage change in ZHVI since peak levels as well as loan-to-value ratio greater than 200 across all regions constituted herein (NE). Moreover Zillow's own Secondary Mortgage Market Survey data is utilized to acquire average mortgage quote rates while correlative Census Bureau NCHS median household income figures represent typical assessable proportions between wages and debt obligations . So whether you're looking to assess effects along metro lines or detailed buffering through zip codes , this database should prove sufficient for insightful explorations! Nonetheless users must strictly adhere to all conditions encompassed within Terms Of Use commitments put forth by our lead provider before accessing any resources included herewith

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Research Ideas

• Analyzing regional and state trends in negative equity: Analyze geographic differences in the percentage of mortgages “underwater”, total amount of negative equity, number of homes at least 90 days late, and other key indicators to provide insight into the factors influencing negative equity across regions, states and cities.
• Tracking the recovery rate over time: Track short-term changes in numbers related to negative equity (e.g., region or area ZHVI Change from Peak) to monitor recovery rates over time as well as how different policy interventions are affecting homeownership levels in affected areas.
• Exploring best practices for promoting housing affordability: Compare affordability metrics (e.g., mortgage payments, price-to-income ratios) across different geographic locations over time to identify best practices for empowering homeowners and promoting stability within the housing market while reducing local inequality impacts related to availability of affordable housing options and access to credit markets like mortgages/loans etc

Acknowledgements

If you use this dataset in your research, please credit the original authors. Data Source

License

See the dataset description for more information.

Columns

File: NESummary_2017Q1_Public.csv | Column name | Description | |:------------------------------------------------|:-----------------------------------------------------------------------------------------------------------------------------------| | RegionType | The type of region (e.g., city, county, metro etc.) (String) | | City | Name of the city (String) | | County | Name of the county (String) | | State | Name of the state (String) | | Metro ...

In 2019, House Price to Income Ratio in Belgium was 101 Indexes. Discover more data with NationMaster!

In 2019, House Price to Income Ratio in Hungary was 125 Indexes. Discover more data with NationMaster!