Europe's rent-salary balance has been announced: Where does Istanbul rank?

Rising housing prices and rents in Europe are increasingly eroding the incomes of employees. The Mapping the World's Prices 2026 report published by the Deutsche Bank Research Institute compared the rent burden in European cities.

In the research reported by Euronews, the total income of two employees living in the same city and receiving an average net salary per person was taken as basis. The remaining amount was calculated by subtracting the monthly rent of a three-bedroom (3+1) apartment in the city center from this income.

WHAT IS REMAINING FROM TWO SALARIES?

According to the research, the average monthly net salary per person in Istanbul is 1,027 euros (approximately 57 thousand TL), and the monthly rent of a three-bedroom apartment in the city center is 1,701 euros (approximately 95 thousand TL).

When rent expenses are subtracted from the total net income of two working people of 2,054 euros (approximately 114 thousand TL), only 353 euros (approximately 20 thousand TL) remain.

With this result, Istanbul became the second city among the 28 European cities examined, with the least money left in the hands of employees after rent. In Lisbon, which ranks first, only 253 euros (approximately 14 thousand TL) remain after rent from two salaries.

Moreover, these amounts show the amounts before food, electricity, natural gas, transportation and other mandatory expenses are met.

TABLE HEAVY FOR MINIMUM WAGE

While the research is based on average net salaries, the situation faced by those working on minimum wage in Türkiye is much more severe.

In 2026, the net minimum wage is 28 thousand 75 lira and 50 kuruş. Accordingly, the total monthly income of a couple who both work for minimum wage is 56 thousand 151 TL.

Deutsche Bank's rent of approximately 95 thousand TL for Istanbul city center exceeds the total income of this couple by approximately 39 thousand TL.

In other words, even if two minimum wage earners combine all their salaries, they cannot cover the rent of the flat on which the research is based.

HOW LONG DOES HE STAY IN WHICH CITY?

According to the research, the European city where employees had the most money left after rent was paid was Zurich, Switzerland.

Although the monthly rent for a three-bedroom apartment in Zurich reaches 5,502 euros (approximately 307 thousand TL), thanks to high salaries, a working couple has 9,140 euros (approximately 509 thousand TL) after rent.

Zurich is followed by Geneva with 8,783 euros, Luxembourg with 5,890 euros, Birmingham with 5,238 euros and Copenhagen with 5,233 euros.

The remaining monthly income after rent in other major European cities is as follows:

London: 3,148 euros (approximately 175 thousand 400 TL)

Madrid: 1.905 euros (approximately 106 thousand 100 TL)

Rome: 1,265 euros (approximately 70 thousand 500 TL)

Athens: 1.148 euros (approximately 64 thousand TL)

Milan: 697 euros (approximately 38 thousand 800 TL)

One of the striking results of the research is that in 11 European cities, the average net salary in that city is not enough to cover the rent of a three-bedroom apartment in the city center.

In addition to Istanbul, these cities include London, Dublin, Lisbon, Milan, Madrid, Barcelona, ​​Rome, Athens, Prague and Budapest.

The research reveals that the housing crisis should be evaluated not only by rental prices but also by the weight of rents against the incomes of employees.

Guardian: If Europe does not solve its housing crisis it could fuel the rise of the far right.

HOUSING CRISIS SPREAD TO THE STREET

The increasingly severe housing crisis in Europe is reflected not only in economic indicators but also in mass protests. Rising rents, low wages and a shortage of affordable housing have forced thousands of people onto the streets in many countries.

Particularly in Spain, the housing crisis has led to large-scale demonstrations in recent months. Thousands of people held protests in the capital Madrid against increasing rents and evictions. The reactions that grew after an 87-year-old woman was evicted from her home at the end of September strengthened the demands for new legislation to protect tenants.

A similar picture is observed in Lisbon, which is the city where employees have the least amount of money left after rent, according to the research. In Portugal, on October 10, thousands of people protested high rents and the cost of living in various cities, especially Lisbon and Porto. In the banners carried by the demonstrators, it was emphasized that salaries were not enough to live on and young people had difficulty in moving to a house separate from their families.