Melbourne vs Riga
Home Price & Cost of Living Comparison
Live DataLast updated: March 31, 2026·Source: OECD, Numbeo & National Statistics
💡 Why it matters: Melbourne vs Riga
Riga is 78% more affordable for homebuyers. Melbourne has a price-to-income ratio of 9.2x compared to 6.5x in Riga.
| Metric | Melbourne | Riga |
|---|---|---|
| Avg Home Price | $680,000 | $150,000 |
| Price / sqm | $8,500 | $2,500 |
| Rent (1BR) | $2,200/mo | $500/mo |
| Rent (3BR) | $3,200/mo | $850/mo |
| Price-to-Income | 9.2x | 6.5x |
| Mortgage Rate | 6.2% | 5.5% |
| 1yr Change | +3.2% | +4.8% |
| Median Income | $74,000/yr | $23,000/yr |
| Population | 5,100,000 | 630,000 |
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HomePricePeek Research TeamData Specialists
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.
✓ OECD, Numbeo & National Statistics✓ Updated 2025
Frequently Asked Questions
Is Melbourne or Riga more expensive?
Riga is more affordable. Home prices differ by $530,000 (78%).
Which city has cheaper rent, Melbourne or Riga?
Rent for a 1BR in Melbourne is $2,200/mo vs $500/mo in Riga.
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