In which cities is it most expensive to rent an apartment before costs equal its purchase price

The longest period — about 17 years — will be needed by residents of Zhytomyr and Rivne if we compare the total costs of renting a one-bedroom apartment with its current median price.

In Zhytomyr, the median price for long-term rental of a one-bedroom apartment is 11,000 UAH per month, while purchasing such housing averages 2.23 million UAH. In Rivne, the rent is about 12,000 UAH, while the median purchase price is 2.45 million UAH.

Approximately 16 years will be needed to rent a one-bedroom apartment in Vinnytsia, Kyiv, and Chernihiv for the total rent payments to equal the current apartment price.

In Vinnytsia, the median rent is 14,000 UAH per month, while the purchase price is 2.64 million UAH. In the capital, these figures are 17,000 UAH and 3.36 million UAH, respectively. In Chernihiv, the rent costs about 8,000 UAH, while the median purchase price exceeds 1.5 million UAH.

Another approximately 15 years of renting will be needed in Odesa, Cherkasy, and Chernivtsi.

In Odesa, a one-bedroom apartment can be rented for an average of 13,000 UAH per month, while purchasing it costs about 2.26 million UAH. In Cherkasy, the median rental rate is 12,000 UAH, and the purchase price is 2.13 million UAH. In Chernivtsi, renting costs about 15,000 UAH per month, while the median price of an apartment is 2.78 million UAH.

According to OLX Real Estate, it will take about 14 years for rental costs of a one-bedroom apartment to equal its current price in Kropyvnytskyi, Lutsk, and Sumy.

In Kropyvnytskyi, the median rent is 8,500 UAH per month, while purchasing an apartment costs about 1.38 million UAH. In Lutsk, these figures are 15,000 UAH and 2.52 million UAH, respectively. In Sumy, the rent is about 6,500 UAH, while the median purchase price exceeds 1 million UAH.

Approximately 13 years will be needed to rent housing in five regional centers — Lviv, Poltava, Ternopil, Uzhhorod, and Khmelnytskyi.

In Lviv, the median rent for a one-bedroom apartment is 22,248 UAH per month, while its purchase is about 3.38 million UAH. In Poltava, these figures are 11,150 UAH and 1.74 million UAH, in Ternopil — 14,800 UAH and 2.33 million UAH.

In Uzhhorod, the rent costs an average of 22,404 UAH per month, while the median purchase price is 3.47 million UAH. In Khmelnytskyi, an apartment can be rented for about 12,500 UAH, while purchasing it costs about 1.98 million UAH.

In Kharkiv, this period is reduced to about 12 years. The median rental rate for a one-bedroom apartment here is 7,500 UAH per month, while its purchase costs about 1.12 million UAH.

The smallest gap between rental and purchase costs is recorded in Ivano-Frankivsk, Dnipro, and Zaporizhzhia.

In Ivano-Frankivsk, at the current price level, rental payments will equal the apartment price in about 11 years. The median rent for a one-bedroom apartment here is 17,707 UAH per month, while its purchase costs about 2.25 million UAH.

In Dnipro, the similar period is about 10 years. The median rent is 12,000 UAH per month, while the purchase price of a one-bedroom apartment is about 1.43 million UAH.

The fastest accumulation of rental payments to the cost of owning housing occurs in Zaporizhzhia — in about 9 years. The median rent for a one-bedroom apartment here is 7,000 UAH per month, while its purchase costs about 717,000 UAH.

Thus, a low rental rate alone does not mean that renting in a particular city is a more advantageous alternative to buying. The key indicator is the ratio of rental costs to apartment prices.

A vivid example is Zaporizhzhia: here, one of the lowest rental rates among the analyzed cities, but purchasing housing is also relatively inexpensive. As a result, in this city, rental costs will equal the current median apartment price the fastest — in about nine years.

"The price ratio is also influenced by the local market situation. In particular, in frontline cities, the security factor significantly restrains the cost of purchasing housing, while the demand for rent may be supported by internal migration and people temporarily residing in the city. Therefore, the prices for purchase and rent react differently to the situation, which forms such a pattern."

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