Home Affordability is Eroding in OECD Nations 🏠

What We're Showing

The home price-to-income ratio change since 2015 in 33 countries, based on data from the OECD.

OECD’s price-to-income ratio measures housing affordability by dividing nominal house prices by net household disposable income per capita.

30 countries are a part of the OECD, and three countries (Bulgaria, Croatia, Romania) are not.

The index ratio indexed to 2015. Data as of Q3 2024 and is seasonally adjusted. 

Key Takeaways

• Portugal, Canada, and the U.S. experienced the steepest increase in home price-to-income ratios among OECD countries, driven by a combination of strong housing demand, limited supply, and investment speculation.
• In Europe, Romania, Finland, and Italy have seen their home price-to-income ratio fall in the double-digits since 2015.
• By contrast, the Netherlands, Switzerland, and Czechia have seen the ratio increase by more than 20%.