India · Asia · Population: 21,000,000
Mumbai is one of the most unaffordable housing markets globally, with steady growth in property values. The city has affordable rents compared to global standards. At $250,000 average home price in India, buyers should consider the 22.8x price-to-income ratio when planning a purchase.
| Average Home Price | $250,000 |
| Price per sqm | $6,500 |
| Price-to-Income Ratio | 22.8x |
| Mortgage Rate | 8.5% |
| 1-Year Price Change | +3.8% |
| 1-Bedroom Apartment | $600/mo |
| 3-Bedroom Apartment | $1,200/mo |
| Rent-to-Income Ratio | 52% |
| Median Household Income | $11,000/year |
| Years to Buy (at median income) | 22.8 years |
| Local Currency | INR |
With a price-to-income ratio of 22.8x, Mumbai is one of the most expensive cities for homebuyers. Consider renting or exploring nearby cities for better value. Home prices have increased 3.8% in the past year.
Cities worldwide with home prices closest to Mumbai
Our team analyzes data from OECD, Numbeo & National Statistics to deliver accurate, up-to-date information. All data is verified and cross-referenced with official sources.
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