In Prague and Brno, renting a 60-square-meter apartment requires close to 60% of the average net monthly wage, while in Ostrava, the same type of apartment consumes just under 50% of earnings, according to an analysis by the real estate platform UlovDomov.cz. Despite wage increases in the Czech Republic last year, rent prices have risen even faster, intensifying the financial strain on tenants. While rents are high, the analysis reveals that renting is still more affordable than paying a mortgage. In Prague and Brno, monthly mortgage payments for a comparable apartment would exceed 90% of the average net wage, whereas in Ostrava, mortgage costs are nearing parity with rent expenses. Regional Comparisons • Prague: Renting a 2+1 apartment (60 m²) costs an average of CZK 22,000, plus CZK 3,500 for utilities, bringing the total to CZK 25,500. With an average net wage of CZK 43,770, housing accounts for 58.3% of monthly income. • Brno: A similar 2+kk apartment costs CZK 18,000, with CZK 2,500 for utilities, totaling CZK 20,500. With an average net wage of CZK 35,249 in the South Moravian Region, housing expenses consume 58.2% of income. • Ostrava: Rent for the same apartment costs CZK 12,600, plus CZK 2,500 for utilities, totaling CZK 15,100. With an average net wage of CZK 32,723 in the Moravian-Silesian Region, housing accounts for 46.1% of income. Households spending over 30% of their net income on housing can apply for a housing allowance, which reduces rent costs by 6-8% on average. According to the Czech Statistical Office, CZK 17.9 billion was paid out in housing allowances last year, double the amount from the previous year. The Prosperity and Financial Health Index by the Czech Savings Bank and Europe Portal ranks housing availability and quality in the Czech Republic as the fifth worst in the EU. Buying an average apartment now requires 13 annual wages, a slight improvement from 15 last year, but still a significant burden. The relative affordability of renting compared to buying has diminished, with the Czech Republic dropping from third most affordable for renters in the EU last year to 13th this year. The growing gap between wages and rent underscores the increasing difficulty for Czech residents to secure affordable housing. This trend highlights the urgent need for structural reforms to address housing costs and improve accessibility. Source: CTK