These figures are contained in the UN-Habitat World Cities Report 2026, which states that housing affordability depends on how closely housing prices align with local incomes, rather than simply on a country’s overall wealth.
The ratio of housing prices to income ranges from 3.0 in the most affordable markets to 86.7 in the least affordable ones. The global average is 11.2, meaning that in Moldova the ratio is higher than the average but far from the extremes.
The most affordable housing in the world is in Saudi Arabia and the United Arab Emirates, where the ratio is 3. South Africa is slightly worse, but not by much, at 3.4. Next come North Korea, Oman, and Nauru.
The United States ranks seventh, outperforming many other developed countries on this metric.
Why is that?
In the Gulf states, relatively high incomes and government programs supporting housing construction help many citizens maintain access to homeownership.
In the United States, rising mortgage rates and limited housing supply in recent years have reduced housing affordability. Nevertheless, housing costs remain relatively low compared to household incomes on an international scale.
However, about three billion people worldwide still lack access to the housing market, as housing prices in many countries continue to outpace income growth, the report states.
And what about our neighbors?
In Germany, the index is 10.7, ranking 114th in the world. In Italy, it is 9.7, ranking 104th.
In Romania, the index is 10.9, ranking 116th. In Ukraine, it is 12.2, ranking 132nd. For some reason, Russia is not included in the ranking; Belarus has an index of 13.8 and ranks 144th.
Real estate is least affordable in Syria—with a ratio of 86.7—followed by Sri Lanka at 40.8 and China at 34.6.
