How Expensive Is Housing Around the World?

One simple way to compare housing affordability is the price-to-income ratio — how many times the average annual income a typical home costs.

According to 2026 Numbeo data, the approximate ratios are:

• USA: 3.5×

• Canada: 7.5×

• UK: 8×

• Australia: 8.2×

• Japan: 11.4×

• China: 21.5×

• Singapore: 22×

• Hong Kong: 31×

A ratio of 5× means a property costs roughly five times annual income. Generally, the higher the ratio, the more difficult housing is to afford.

The difference between countries is huge. Hong Kong and Singapore have extremely high property prices compared with local incomes, while the US has a much lower national ratio.

However, national averages can hide major differences between cities. Property in Mumbai, Bengaluru or London can be far more expensive relative to income than property in smaller cities within the same country.

Ultimately, housing affordability depends not only on property prices but also on income, mortgage rates, taxes, rents and housing supply.

The key takeaway: the best way to judge a property is not simply by asking how expensive it is, but by asking how expensive it is compared with the income of the people buying it.

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