South Africa · Africa · Population: 3,700,000
Durban is relatively affordable for homebuyers, with steady growth in property values. The city has affordable rents compared to global standards. At $120,000 average home price in South Africa, buyers should consider the 4.8x price-to-income ratio when planning a purchase.
| Average Home Price | $120,000 |
| Price per sqm | $1,500 |
| Price-to-Income Ratio | 4.8x |
| Mortgage Rate | 11.5% |
| 1-Year Price Change | +3.2% |
| 1-Bedroom Apartment | $550/mo |
| 3-Bedroom Apartment | $900/mo |
| Rent-to-Income Ratio | 22% |
| Median Household Income | $25,000/year |
| Years to Buy (at median income) | 4.8 years |
| Local Currency | ZAR |
With a price-to-income ratio of 4.8x, Durban offers reasonable opportunities for homebuyers compared to global averages. Home prices have increased 3.2% in the past year.
Cities worldwide with home prices closest to Durban
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