Home rental prices increased 5.5% year-on-year in July, according to the latest KSH–Ingatlan.com rental index, while rents in Budapest rose by 5%. On a monthly basis, however, the market accelerated, with rental prices increasing 1.6% nationwide and 1.7% in Budapest.
In Budapest, the median monthly asking rent stood at HUF 260,000 in early August, according to Ingatlan.com data. Outside the capital, the largest university and regional centres remain significantly cheaper, but the gap is narrowing in some parts of the market.
Budapest reaches HUF 260,000
The HUF 260,000 median is increasingly becoming an important benchmark for anyone looking to rent in the Hungarian capital. The II and V districts have been among the most expensive, with median rents around HUF 350,000, while the cheapest districts have been closer to HUF 210,000–220,000.
The result is a market where finding a Budapest apartment below HUF 200,000 has become increasingly difficult, while properties above HUF 300,000 face a more limited pool of potential tenants.
University cities are becoming expensive too
Budapest is not the only Hungarian city where tenants are facing high housing costs. The median monthly rent in Debrecen reached HUF 220,000, while both Szeged and Győr were around HUF 200,000.
The cheapest county-seat rental markets remain dramatically more affordable. Békéscsaba, for example, has been around HUF 115,000, while Szekszárd has been around HUF 125,000 and Miskolc around HUF 130,000.
Earlier summer data showed that the number of rental listings are declining. Between early June and early July, the number of advertised rental properties fell by approximately 2.6% nationwide, while Budapest recorded a 3.4% decline.
