The cost of renting accommodation in Germany continues to rise, but there are still several cities where reasonable rental prices can be found.
According to data from the German Ministry of Housing Construction, around 54% of households in Germany prefer renting over buying property. This is a significantly higher percentage compared to European standards, where less than 30% of households in the EU opt for rental accommodations. In this article, we will explore the ten most cost-effective cities for renting property in Germany.
What's the average rental cost in Germany?
According to the latest data from Destatis, Germany's statistical bureau, in 2022, the average cold rent per square meter was €8.70. In smaller towns, renters can expect rates of around €7.50 per square meter, while in larger cities, the average rental cost is approximately €9.60 per square meter.
Nevertheless, in the Ruhr region of North Rhine-Westphalia and eastern Germany, there are cities where favorable rental offers can still be found.
This is especially noteworthy when compared to cities like Munich, where the average rent now exceeds €18 per square meter.
So, which cities in Germany offer the most affordable rental rates based on the latest square meter cost data? Check the list below:
· Hemnitz, Saxony: €5.63
· Gelsenkirchen, North Rhine-Westphalia: €6.46
· Hagen, North Rhine-Westphalia: €6.66
· Magdeburg, Saxony-Anhalt: €6.71
· Bremerhaven, Bremen: €6.86
· Salzgitter, Lower Saxony: €6.88
· Remscheid, North Rhine-Westphalia: €7.00
· Herne, North Rhine-Westphalia: €7.06
· Recklinghausen, North Rhine-Westphalia: €7.11
· Halle, Saale, Saxony-Anhalt: €7.11
However, it's worth noting that even in these more affordable cities, finding housing can still be challenging, whether it's an apartment of your own or a room in a shared flat. Here are some tried-and-true tips to make your search less stressful:
- Leverage Social Networks and Local Groups: Join Facebook groups or other online communities specializing in apartment hunting or the real estate market in your region. These groups often feature budget-friendly listings or share valuable recommendations.
- Utilize Personal Connections: Inform friends, family, colleagues, and acquaintances that you're on the lookout for an apartment. Sometimes, they can help you find available housing in their area or might be planning to move soon.
- Be Flexible: Open yourself up to different apartment sizes or alternative housing arrangements. Lower your expectations and broaden your possibilities.
- Rent Directly: Try searching for apartments directly from private landlords or small rental companies rather than through large agencies, which typically offer newer and pricier units. Private landlords often offer more budget-friendly rental rates.
- Join a Housing Cooperative: Learn about housing cooperatives or nonprofit housing associations in your desired neighborhood. They often provide affordable housing, especially for those with lower incomes. However, waiting lists can be quite long.
- Negotiate: Don't hesitate to negotiate with your landlord about the rental fee; they might agree to lower it. This is particularly relevant if you plan to rent for an extended period, carry out some maintenance work yourself, or purchase furniture and appliances from the previous tenant.
- Move Further from the City Center: Consider the option of moving to the outskirts of the city. Rental prices are lower there, and generally, good transportation connections are available.