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Munich is struggling with record rents: How much can an apartment cost?
Rent prices are rising in Fürstenried: economists warn that many Munich residents have to spend more than 30% of their income on rent.
Munich is struggling with record rents: How much can an apartment cost?
The rental prices in Munich can get on your last nerve. A new report from TZ shows that the cost of housing in the Bavarian capital is at a record high. More and more Munich residents are struggling to find a roof over their heads, while the average rent is now a whopping 25 euros per square meter. This brings many people to the brink of despair. Economists recommend not spending more than 30 percent of your net income on rent - a recommendation that is difficult for many to implement in reality. Rental prices often exceed this limit and present families, singles and couples with immense challenges. Students in particular don't have it easy: a room in a shared apartment costs around 790 euros, while a one-room apartment can cost up to 1200 euros.
The differences between the districts are immense. In outlying districts such as Fürstenried, for example, new one-room apartments with around 40 square meters are available for just under 1,000 euros. In the popular Haidhausen, however, you have to expect around 250 euros more. Even in the rather cheap Hasenbergl, a four-room apartment with 90 square meters costs almost 2,000 euros. When you then see that a 66 square meter apartment in the English Garden is rented for an incredible 4,750 euros per month, the absurdity of the situation becomes clear.
New rent index for Munich
The rent index for Munich will be recreated in 2025, as the city website reports. Since 2011, the city council has decided to recreate the rent index every two years instead of updating it. The basis for this is a representative random sample from the population register, which specifically takes into account all freely financed apartments for which new rental agreements were concluded or existing rental prices were adjusted between February 2018 and January 2024. This measure is intended to ensure more transparency and fairness.
But supra-regional trends are also noticeable. According to a published apartment rent index, rents in Germany are rising continuously. The numbers extend into 2024 and show that confidence in affordable housing could be dwindling.
Munich remains a city of contrasts: high-priced and filled with the dreams of many. But reality paints a different picture, and finding affordable housing is becoming increasingly challenging. It remains to be hoped that politicians here will react soon to make living in the capital of Weißwurst and Oktoberfest worth living for everyone.