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.

Population with Income per Capita below Living Cost: % of Total: NC: Chechen Republic data was reported at 15.200 % in 2024. This records a decrease from the previous number of 17.400 % for 2023. Population with Income per Capita below Living Cost: % of Total: NC: Chechen Republic data is updated yearly, averaging 19.700 % from Dec 2012 (Median) to 2024, with 13 observations. The data reached an all-time high of 21.700 % in 2012 and a record low of 14.200 % in 2014. Population with Income per Capita below Living Cost: % of Total: NC: Chechen Republic data remains active status in CEIC and is reported by Federal State Statistics Service. The data is categorized under Russia Premium Database’s Demographic and Labour Market – Table RU.GA015: Population with Income per Capita below Living Cost.

As of 2023, Rwanda had the lowest average monthly salary of employees in the world in terms of purchasing power parities (PPP), which takes the average cost of living in a country into account. Gambia had the second lowest average wages, with Ethiopia in third. Of the 20 countries with the lowest average salaries in the world, 17 were located in Africa. On the other hand, Luxembourg had the highest average monthly salaries of employees.

Population with Income per Capita below Living Cost: % of Total: CF: Moscow Region data was reported at 4.900 % in 2024. This records a decrease from the previous number of 5.500 % for 2023. Population with Income per Capita below Living Cost: % of Total: CF: Moscow Region data is updated yearly, averaging 9.850 % from Dec 1995 (Median) to 2024, with 30 observations. The data reached an all-time high of 35.200 % in 2000 and a record low of 4.900 % in 2024. Population with Income per Capita below Living Cost: % of Total: CF: Moscow Region data remains active status in CEIC and is reported by Federal State Statistics Service. The data is categorized under Russia Premium Database’s Demographic and Labour Market – Table RU.GA015: Population with Income per Capita below Living Cost.

Luxembourg had the highest average monthly salary of employees in the world in 2024 in terms of purchasing power parities (PPP), which takes the average cost of living in a country into account. Belgium followed in second, with the Netherlands in third.

Population with Income per Capita below Living Cost: % of Total: SB: Republic of Khakassia data was reported at 13.600 % in 2024. This records a decrease from the previous number of 15.800 % for 2023. Population with Income per Capita below Living Cost: % of Total: SB: Republic of Khakassia data is updated yearly, averaging 18.800 % from Dec 1995 (Median) to 2024, with 30 observations. The data reached an all-time high of 40.500 % in 1999 and a record low of 13.600 % in 2024. Population with Income per Capita below Living Cost: % of Total: SB: Republic of Khakassia data remains active status in CEIC and is reported by Federal State Statistics Service. The data is categorized under Russia Premium Database’s Demographic and Labour Market – Table RU.GA015: Population with Income per Capita below Living Cost.

Turkey, Russia, Portugal, and Latvia were the countries with the highest house price-to-rent-ratio in the ranking in the second quarter of 2024. In all three countries, the ratio exceeded 160 index points, meaning that house price growth had outpaced rents by over 60 percent between 2015 and 2024. What does the house-price-to-rent ratio show? The house-price-to-rent-ratio measures the evolution of house prices compared to rents. 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 that rental rates have risen more than house prices. When all OECD countries are considered as a whole, the gap between house prices and rents was wider than in the Euro area. 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 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.

Population with Income per Capita below Living Cost: % of Total: CF: Smolensk Region data was reported at 8.100 % in 2024. This records a decrease from the previous number of 10.400 % for 2023. Population with Income per Capita below Living Cost: % of Total: CF: Smolensk Region data is updated yearly, averaging 17.150 % from Dec 1995 (Median) to 2024, with 30 observations. The data reached an all-time high of 32.000 % in 1999 and a record low of 8.100 % in 2024. Population with Income per Capita below Living Cost: % of Total: CF: Smolensk Region data remains active status in CEIC and is reported by Federal State Statistics Service. The data is categorized under Russia Premium Database’s Demographic and Labour Market – Table RU.GA015: Population with Income per Capita below Living Cost.

Population with Income per Capita below Living Cost: % of Total: SF: Republic of Kalmykia data was reported at 13.200 % in 2024. This records a decrease from the previous number of 18.800 % for 2023. Population with Income per Capita below Living Cost: % of Total: SF: Republic of Kalmykia data is updated yearly, averaging 36.150 % from Dec 1995 (Median) to 2024, with 30 observations. The data reached an all-time high of 66.400 % in 2000 and a record low of 13.200 % in 2024. Population with Income per Capita below Living Cost: % of Total: SF: Republic of Kalmykia data remains active status in CEIC and is reported by Federal State Statistics Service. The data is categorized under Russia Premium Database’s Demographic and Labour Market – Table RU.GA015: Population with Income per Capita below Living Cost.

Population with Income per Capita below Living Cost: % of Total: CF: Kursk Region data was reported at 6.300 % in 2024. This records a decrease from the previous number of 7.600 % for 2023. Population with Income per Capita below Living Cost: % of Total: CF: Kursk Region data is updated yearly, averaging 10.950 % from Dec 1995 (Median) to 2024, with 30 observations. The data reached an all-time high of 42.200 % in 2000 and a record low of 6.300 % in 2024. Population with Income per Capita below Living Cost: % of Total: CF: Kursk Region data remains active status in CEIC and is reported by Federal State Statistics Service. The data is categorized under Russia Premium Database’s Demographic and Labour Market – Table RU.GA015: Population with Income per Capita below Living Cost.

Population with Income per Capita below Living Cost: % of Total: CF: Kostroma Region data was reported at 8.700 % in 2023. This records a decrease from the previous number of 9.500 % for 2022. Population with Income per Capita below Living Cost: % of Total: CF: Kostroma Region data is updated yearly, averaging 18.200 % from Dec 1995 (Median) to 2023, with 29 observations. The data reached an all-time high of 38.300 % in 1999 and a record low of 8.700 % in 2023. Population with Income per Capita below Living Cost: % of Total: CF: Kostroma Region data remains active status in CEIC and is reported by Federal State Statistics Service. The data is categorized under Russia Premium Database’s Demographic and Labour Market – Table RU.GA015: Population with Income per Capita below Living Cost.

Population with Income per Capita below Living Cost: % of Total: VR: Republic of Chuvashia data was reported at 10.400 % in 2024. This records a decrease from the previous number of 13.000 % for 2023. Population with Income per Capita below Living Cost: % of Total: VR: Republic of Chuvashia data is updated yearly, averaging 18.950 % from Dec 1995 (Median) to 2024, with 30 observations. The data reached an all-time high of 57.200 % in 1999 and a record low of 10.400 % in 2024. Population with Income per Capita below Living Cost: % of Total: VR: Republic of Chuvashia data remains active status in CEIC and is reported by Federal State Statistics Service. The data is categorized under Russia Premium Database’s Demographic and Labour Market – Table RU.GA015: Population with Income per Capita below Living Cost.

Population with Income per Capita below Living Cost: % of Total: SF: Rostov Region data was reported at 7.700 % in 2024. This records a decrease from the previous number of 9.600 % for 2023. Population with Income per Capita below Living Cost: % of Total: SF: Rostov Region data is updated yearly, averaging 15.050 % from Dec 1995 (Median) to 2024, with 30 observations. The data reached an all-time high of 34.200 % in 1995 and a record low of 7.700 % in 2024. Population with Income per Capita below Living Cost: % of Total: SF: Rostov Region data remains active status in CEIC and is reported by Federal State Statistics Service. The data is categorized under Russia Premium Database’s Demographic and Labour Market – Table RU.GA015: Population with Income per Capita below Living Cost.

Population with Income per Capita below Living Cost: % of Total data was reported at 13.200 % in 2017. This records a decrease from the previous number of 13.300 % for 2016. Population with Income per Capita below Living Cost: % of Total data is updated yearly, averaging 17.700 % from Dec 1992 (Median) to 2017, with 26 observations. The data reached an all-time high of 33.500 % in 1992 and a record low of 10.700 % in 2012. Population with Income per Capita below Living Cost: % of Total data remains active status in CEIC and is reported by Federal State Statistics Service. The data is categorized under Russia Premium Database’s Demographic and Labour Market – Table RU.GA014: Population with Income per Capita below Living Cost.

Average Household Income: Semarang Municipality: Wage/Salary data was reported at 5,637,331.000 IDR in 2018. Average Household Income: Semarang Municipality: Wage/Salary data is updated yearly, averaging 5,637,331.000 IDR from Dec 2018 (Median) to 2018, with 1 observations. The data reached an all-time high of 5,637,331.000 IDR in 2018 and a record low of 5,637,331.000 IDR in 2018. Average Household Income: Semarang Municipality: Wage/Salary data remains active status in CEIC and is reported by Statistics Indonesia. The data is categorized under Indonesia Premium Database’s Domestic Trade and Household Survey – Table ID.HB003: Cost of Living Survey (SBH-2018): Average Monthly Household Income: by Cities.

Average Household Income: Tanjung Pandan Municipality: Ownership of Assets and Gifts data was reported at 658,295.000 IDR in 2018. Average Household Income: Tanjung Pandan Municipality: Ownership of Assets and Gifts data is updated yearly, averaging 658,295.000 IDR from Dec 2018 (Median) to 2018, with 1 observations. The data reached an all-time high of 658,295.000 IDR in 2018 and a record low of 658,295.000 IDR in 2018. Average Household Income: Tanjung Pandan Municipality: Ownership of Assets and Gifts data remains active status in CEIC and is reported by Statistics Indonesia. The data is categorized under Indonesia Premium Database’s Domestic Trade and Household Survey – Table ID.HB003: Cost of Living Survey (SBH-2018): Average Monthly Household Income: by Cities.

Population with Income per Capita below Living Cost: % of Total: SB: Omsk Region data was reported at 9.100 % in 2024. This records a decrease from the previous number of 10.600 % for 2023. Population with Income per Capita below Living Cost: % of Total: SB: Omsk Region data is updated yearly, averaging 14.050 % from Dec 1995 (Median) to 2024, with 30 observations. The data reached an all-time high of 44.400 % in 2000 and a record low of 9.100 % in 2024. Population with Income per Capita below Living Cost: % of Total: SB: Omsk Region data remains active status in CEIC and is reported by Federal State Statistics Service. The data is categorized under Russia Premium Database’s Demographic and Labour Market – Table RU.GA015: Population with Income per Capita below Living Cost.

Average Household Income: Palembang Municipality: Wage/Salary data was reported at 4,931,040.000 IDR in 2018. Average Household Income: Palembang Municipality: Wage/Salary data is updated yearly, averaging 4,931,040.000 IDR from Dec 2018 (Median) to 2018, with 1 observations. The data reached an all-time high of 4,931,040.000 IDR in 2018 and a record low of 4,931,040.000 IDR in 2018. Average Household Income: Palembang Municipality: Wage/Salary data remains active status in CEIC and is reported by Statistics Indonesia. The data is categorized under Indonesia Premium Database’s Domestic Trade and Household Survey – Table ID.HB003: Cost of Living Survey (SBH-2018): Average Monthly Household Income: by Cities.

Population with Income per Capita below Living Cost: % of Total: CF: Voronezh Region data was reported at 5.400 % in 2024. This records a decrease from the previous number of 6.700 % for 2023. Population with Income per Capita below Living Cost: % of Total: CF: Voronezh Region data is updated yearly, averaging 18.300 % from Dec 1995 (Median) to 2024, with 30 observations. The data reached an all-time high of 41.900 % in 2000 and a record low of 5.400 % in 2024. Population with Income per Capita below Living Cost: % of Total: CF: Voronezh Region data remains active status in CEIC and is reported by Federal State Statistics Service. The data is categorized under Russia Premium Database’s Demographic and Labour Market – Table RU.GA015: Population with Income per Capita below Living Cost.

Population with Income per Capita below Living Cost: % of Total: CF: Ryazan Region data was reported at 9.400 % in 2024. This records a decrease from the previous number of 10.600 % for 2023. Population with Income per Capita below Living Cost: % of Total: CF: Ryazan Region data is updated yearly, averaging 15.450 % from Dec 1995 (Median) to 2024, with 30 observations. The data reached an all-time high of 49.300 % in 2000 and a record low of 9.400 % in 2024. Population with Income per Capita below Living Cost: % of Total: CF: Ryazan Region data remains active status in CEIC and is reported by Federal State Statistics Service. The data is categorized under Russia Premium Database’s Demographic and Labour Market – Table RU.GA015: Population with Income per Capita below Living Cost.