Rental housing prices accelerate in Germany: most expensive cities named
Rental rates for housing in Germany have accelerated again. In the third quarter of 2026, asking rents for apartments rose by an average of 3.7% year-on-year and by 1.2% compared with the previous quarter. Among large cities, the biggest increase was recorded in Hamburg, while Munich remains the most expensive for tenants.
This is evidenced by the results of the GREIX study, published on October 15 by the Kiel Institute for the World Economy. The analysts examined rental offers for apartments in 37 German cities and regions, including the country's 30 largest cities.
The quarterly increase in rental rates was the highest since the beginning of 2025, and the annual rate of price growth reached its maximum since the end of last year. Adjusted for inflation, rents rose by 0.3% over the quarter and by 0.7% over the year.
According to GREIX project leader Jonas Zdrzalek, after two quarters with annual growth near 3%, the rental market is picking up again. Apartments in the existing housing stock are the main contributor to the price rise, while rates in new buildings are growing more slowly.
Among Germany's eight largest cities, Hamburg saw the fastest year-on-year rent increase at 6.7%. In Düsseldorf and Cologne, rates rose by 5.4%, in Munich by 4.8%, and in Frankfurt am Main by 3.7%. In Berlin, annual growth was only 1.4%, but prices rose by 2.1% over the last quarter.
Munich remains the most expensive city for renting an apartment, with an average rate of 23.7 euros per square meter per month without utilities.
Average rental rates in Germany's major cities:
- Munich - 23.7 euros/m²;
- Frankfurt am Main - 17.9 euros/m²;
- Hamburg - 16.5 euros/m²;
- Stuttgart - 16.4 euros/m²;
- Cologne - 16.0 euros/m²;
- Berlin - 15.8 euros/m²;
- Düsseldorf - 15.1 euros/m²;
- Leipzig - 10.4 euros/m².
On average for all 37 cities and regions studied, the rental cost is 14.6 euros per square meter.
Significantly cheaper housing can be found in smaller cities. In Chemnitz, the average rate is 6.3 euros/m², in Gelsenkirchen 7.7 euros/m², and in Duisburg and Hamm 8.6 euros/m² each.
For comparison, renting a 50-square-meter apartment at the average rate would cost about 1185 euros per month in Munich, 790 euros in Berlin, and 520 euros in Leipzig. These are calculated amounts without utilities, which do not take into account the specifics of a particular apartment.
The study also showed that apartments in new buildings are being rented out more slowly. In the eight largest cities, such offers stay on the market on average about two weeks longer than apartments in older housing stock.
Analysts attribute this to the high cost of new housing. Due to significant rental rates, only a limited number of households can afford such apartments, which curbs further price increases in this segment.
For Ukrainians living in Germany or planning to move, it is important to note that the GREIX figures reflect asking rents in new listings, not payments under all existing contracts. In addition, the rates quoted are the so-called Kaltmiete, i.e., the basic rent without heating and other utility costs.