Global Housing Affordability Review 2025

This report presents the Global Housing Affordability Review for 2025, which analyzes residential rental affordability across 80 urban markets worldwide. The document outlines the importance of housing affordability as a critical indicator of economic vitality and social cohesion, particularly in major urban areas. It details how excessive housing costs can limit access to essential goods and services, suppress savings, and increase financial vulnerability. The report notes that Salt Lake City and Austin are the most affordable locations, while cities like New York and Miami are outliers despite high rents. It also highlights the regional disparities in affordability, with North America being the most affordable region, followed by Europe and the Asia-Pacific. The analysis includes two key indicators: the rental affordability ratio and residual spending power, which help assess the local rental burden. The report emphasizes the need for institutional investors to consider these metrics when evaluating market viability and risks.