Despite the full-scale invasion, the demand for rental apartments is growing rapidly. Find out more about the cheapest and most expensive cities in Ukraine for apartment rental in 2024

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According to LUN, the average cost of renting an apartment in Ukraine is UAH 10,100. In addition, interest in renting real estate this year has even exceeded the record highs of 2023. BisinessUA, citing a report by the State Statistics Service, reports that rents have risen by 5.4% since the beginning of the year.

Today's article will tell you about the most expensive and cheapest regional centers for renting housing.

You can learn more about the cost of renting an apartment in different European cities by following the link.

In which cities of Ukraine is it the most expensive to rent an apartment?

Zakarpattia remains an unprecedented leader in terms of housing costs. Although prices in the region have decreased by 7.8% compared to 2023, the average rental price in Uzhhorod is UAH 18,500. This is the highest figure in the entire country.

Lviv is in second place with an average apartment rental price of UAH 17,000. The highest price growth is observed in Ivano-Frankivsk. In 2024, the average cost of renting apartments in the region increased by a record 37%.

The capital traditionally remains among the most expensive cities for rent with an average price of UAH 16,500. While Zakarpattia and Lviv regions are ahead of Kyiv in the segment of one-bedroom apartments, the capital remains in first place in the context of 2- and 3-room apartments with average prices of UAH 22,900 and UAH 37,500 per month, respectively.

Earlier, we said that Ukraine is developing a new housing policy that provides for the introduction of social rent.

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Analysis of the trend of rising rental rates

Despite the fact that apartment rental prices are gradually increasing, demand remains high. This fact is confirmed by the fact that the period during which offers remain on the market without a tenant is decreasing. This trend indicates a stable interest even in the face of rising rental rates.

The ratio of the annual rent to the total market value of an apartment is analyzed to determine the feasibility of purchasing a home. By the end of 2024, the data is changing in favor of buying a home. For example, in the capital, the average for one-room apartments is about 12.6 years of rent, in Lviv - almost 13.3, and in Odesa - about 15.5. It is worth mentioning that last year these figures were different: 15 years of rental equivalent in Kyiv, 11 years in Lviv, and 17 years in Odesa. Thus, some cities demonstrate a shift in the economic equilibrium towards the purchase of real estate.

For its part, the assessment of rental affordability is usually based on the ratio of the average salary in the region to the typical rental rate. Kharkiv currently holds a leading position in terms of affordability: a one-bedroom apartment “eats up” about 20% of the region's salary, a two-bedroom apartment - about 30%, and a three-bedroom apartment - 40%. In contrast, in cities like Lviv, Uzhhorod, Ivano-Frankivsk, and Kyiv, rents are much more costly for families.

In which cities is it the cheapest to rent an apartment?

The lowest average apartment rental prices are recorded in the eastern and southern regions. For example, in Kharkiv, you can rent an apartment for UAH 4,000 per month, in Zaporizhzhia and Mykolaiv for UAH 5,000, and in Kherson for a record low of UAH 3,000 per month.

This pricing policy is due to the proximity of the regions to the front line and the border with Russia. It is also affected by the extremely difficult security situation and constant shelling by the occupiers.

Unfortunately, today's realities force Ukrainians to live under constant stress and threat from the aggressor country. Therefore, the issue of real estate protection becomes especially important. On the Visit Ukraine portal, you can take out apartment insurance, which will guarantee compensation for damages in case of damage to housing as a result of missiles, UAVs and drones, as well as in case of natural disasters, fire, theft and other illegal actions.

You can find out more about the apartment insurance service covering war risks in our previous article here.

We remind you! Housing prices in the suburbs of Kyiv continue to rise, but remain cheaper than in the capital. Read more about how much it costs to buy and rent apartments in different cities near Kyiv and which areas are better to choose for living.

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