Latvia · Europe · Population: 630,000
Riga is relatively affordable for homebuyers, with steady growth in property values. The city has affordable rents compared to global standards. At $150,000 average home price in Latvia, buyers should consider the 6.5x price-to-income ratio when planning a purchase.
| Average Home Price | $150,000 |
| Price per sqm | $2,500 |
| Price-to-Income Ratio | 6.5x |
| Mortgage Rate | 5.5% |
| 1-Year Price Change | +4.8% |
| 1-Bedroom Apartment | $500/mo |
| 3-Bedroom Apartment | $850/mo |
| Rent-to-Income Ratio | 22% |
| Median Household Income | $23,000/year |
| Years to Buy (at median income) | 6.5 years |
| Local Currency | EUR |
With a price-to-income ratio of 6.5x, Riga offers reasonable opportunities for homebuyers compared to global averages. Home prices have increased 4.8% in the past year.
Cities worldwide with home prices closest to Riga
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