Rent in Budapest Skyrocketing - Where's Most Expensive and Cheapest?

  • 17 Apr 2024 5:45 AM
  • Hungary Today
Rent in Budapest Skyrocketing -  Where's Most Expensive and Cheapest?
According to the Central Statistical Office (KSH) and the rent index, rent prices were 11.7 percent higher in the country and 12.4 percent higher in the capital in March compared to a year earlier.

In Budapest, the average rent was already HUF 270,000 (EUR 684) in April. Only the solvency of demand is putting a slight brake on the pace of price increases.

Monthly rents rose by 0.8 percent on average in Hungary and by 1.8 percent in Budapest compared to February, writes Világgazdaság.

The picture was bleak in the rental market in March, with the monthly increase accelerating from 1.1 percent to 1.8 percent in Budapest, while the national rate slowed from 1 percent in February to 0.8 percent, said László Balogh, chief economist at, commenting on the latest data.

The monthly slowdown in national rent growth is mainly due to the limited ability to pay. The increase in rents does not reflect inflation, but rather the rise in wages, the expert noted. This is partly due to the fact that average rental prices in the capital and Debrecen have broken a psychological barrier.

In Budapest, the average rent for an apartment is now HUF 270,000 (EUR 684). Flats smaller than 40 square meters are much cheaper, with rents averaging HUF 185,000 (EUR 469).

If wage growth does not slow down, the average rent level could reach HUF 300,000 (EUR 760) in Budapest next year, the expert emphasized.

Balogh believes that the rising rent prices could be partly compensated by the Youth Guarantee Plus Program and the “Housing Benefit 2024” rent subsidy programs launched by the government in the spring. These are socially-based rent subsidies to help young people and jobseekers into the labor market.

Based on the April supply, significant differences remain. District 5 (the heart of the capital) is the most expensive, with rents costing HUF 380,000 (EUR 963). Among the districts with the highest supply, districts 11 and 13 have average rents in line with the capital’s average, at HUF 270,000 (EUR 684).

The cheapest are in districts 18 and 21, where rents are below HUF 200,000 (EUR 507).

Looking at the markets in the county seats, Debrecen (eastern Hungary) has the highest rent for tenants. There, the average rent has broken the HUF 200,000 (EUR 507) psychological barrier: in mid-April the average was HUF 220,000 (EUR 558).

This is followed by: 

Győr (northwestern Hungary)
Székesfehérvár (central Hungary)
Veszprém (western Hungary) with HUF 176-180,000 (EUR 446-456).

At the other end of the scale are Miskolc, Salgótarján (both in northern Hungary) and Békéscsaba (southeastern Hungary), with rents of HUF 90-100,000 (EUR 228-253).


You're very welcome to comment, discuss and enjoy more stories, via our Facebook page: + via XpatLoop’s groups: Budapest Expats / Expats Hungary

You can subscribe to our newsletter here:

Do you want your business to reach tens of thousands of potential high-value expat customers?
Then just contact us here!

  • How does this content make you feel?

XpatLoop Media Partner

Hungary Today

Online since 2014, this source states its aim as "to provide a complete, unbiased picture of Hungary”. It continues by acknowledging this “does not necessarily mean that our writers do not have their own opinions, sometimes reflected to a degree in the articles they publish”, and it's really worth readers keeping that in mind. Another stated aim is to become ‘the leading English-language news portal of Hungary’, a position held for 20 years by good old independent XpatLoop! Still our team has no issue with positively highlighting one or two useful articles published by Hungary Today here with permission for your interest.

Explore More Reports