Cities with the most cost-efficient rent costs

Article
Published 2019-06-14 13:10

The latest study by Comparethemarket ranks the best and worst cities for cost-efficient rent. That is, the ratio of one’s salary that goes into their rent. These are the best cities.

Seoul

The capital city of South Korea appears to be the most cost-efficient city for rent prices. On average, rent usually only costs a family around 14.46% of its income and 28.91% of an individual’s income. Indeed, while the average monthly salary is $4,925 per household of two persons and $2,462 for an individual. And the average rent price is $712 in the city centre.

Osaka

It is no surprise that two Japanese cities are featured in the top five of comparethemarket’s study. Indeed, according to another study the country is also known to offer the best pay packages in Asia. On average, the monthly take-home salary for an individual stands at $2,230 and for a household at $4,461.The average rent price stands at $674.

Tokyo

Tokyo is the best paying country in Asia and the second best in the world according to a study by ECA International. According to Comparethemarket, a single person in Tokyo receives $2,813 in a month on average and the income of a household of two stands at $5,626 on average. But the rent in Tokyo is not proportional to the income. Indeed, the average rent in the city centre stands at $1,045 on average.

Berlin

Berlin is the only European country in the top 10 cities with the most cost-effective rent prices. The average salary in the German city is $2,397 monthly for an individual and of $4,794 for a household of two persons. To rent in the city centre, one would pay on average $967 per month.

Delhi

In Delhi, the capital city of India, an individual would spend 42% of their monthly salary on rent while a household would spend 21%, on average. Indeed, the monthly salary per person stands at $534 and for a household at $1,069 while the average rent in the city centre is of $224.