Housing costs continue to squeeze household budgets across Europe, and a new report from Deutsche Bank Research Institute highlights just how uneven the burden is. The Mapping the World’s Prices 2026 study calculates how much a working couple has left each month after paying rent on a three-bedroom flat in the city centre, using local net salaries.
The findings show a wide gap: from €9,140 left in Zurich to just €253 in Lisbon. Swiss cities dominate the top of the ranking, while southern European capitals struggle at the bottom.
Swiss cities lead, Luxembourg and Birmingham follow
Zurich has the highest rent among the 28 European cities surveyed (€5,502), but it also offers the highest net salary (€7,321). A couple there ends up with €9,140 after rent. Geneva is close behind, with €8,783 left, thanks to the second-highest net salary of €6,516.
Luxembourg ranks third with €5,890 remaining. Its rent (€3,206) is high but lower than in London, Dublin, or Amsterdam, and its net salary (€4,548) is the third-highest. Birmingham follows with €5,238, just ahead of Copenhagen at €5,233.
The contrast between Birmingham and London is striking. A couple in Birmingham has €5,238 left after rent, while in London the figure drops to €3,148. Although salaries are lower in Birmingham, a city-centre flat costs €1,949 there versus €4,362 in London.
Other cities with more than €4,000 left include Oslo (€4,936), Frankfurt (€4,786), Munich (€4,575), and Amsterdam (€4,431). Amsterdam’s rent is among the five highest (€3,542), but a strong net salary (€3,986) compensates. Vienna (€3,709) and Stockholm (€3,674) are close behind.
Berlin beats Paris, Dublin underperforms
Paris has higher net salaries than Berlin (€3,171 versus €2,946), yet couples in Berlin have more left after rent: €3,554 compared with €3,336 in Paris. The reason is rent: a city-centre flat costs €3,005 in Paris but only €2,339 in Berlin.
Dublin offers a net salary of €3,455, higher than Paris, Berlin, Vienna, or Stockholm. But its rent is the fourth-highest in Europe (€3,873), exceeding one net salary, leaving couples with just €3,038.
Southern Europe lags, Central and Eastern Europe fares better
Lisbon and Milan are the hardest hit. In Lisbon, a couple has only €253 left after rent, with a net salary of €1,408 against rent of €2,561. Milan leaves €697, Madrid €1,905, Barcelona €1,832, Rome €1,265, and Athens €1,148. In Athens, rent (€1,164) is slightly higher than one net salary (€1,156).
Istanbul sits near the bottom with €353 left, despite a net salary of €1,027 and rent of €1,701.
Central and Eastern European cities perform better than the south. Prague leaves €2,054, Warsaw €1,985, and Budapest €1,548—all above Rome and Athens.
It’s worth noting that these figures only account for rent. Food, utilities, transport, and other essentials still have to come out of the remaining amount.
One salary rarely enough
In 11 of the 28 cities, rent exceeds one net salary: Athens, Barcelona, Budapest, Dublin, Istanbul, Lisbon, London, Madrid, Milan, Prague, and Rome. Lisbon has the largest gap—rent is 82% higher than one salary. In Milan, rent is €3,184 versus a net salary of €1,940.
In Prague and Budapest, rent and one net salary are nearly equal.
Europe’s global standing
Europe performs well globally. Zurich and Geneva top the list of 69 cities, ahead of San Francisco (€7,992). Seven of the top ten are European. No European city appears in the bottom ten, which are all in Latin America, Asia, or Africa. In six of those cities, rent exceeds two net salaries; Manila (-€882) and Bangkok (-€759) are the lowest.
Moscow leaves a couple with just €313 after rent, while several European cities outperform New York (€1,921).
The report underscores how housing affordability varies dramatically across the continent. For those considering a move, the data offers a clear picture of where a dual income goes furthest. Meanwhile, Portuguese cities like Porto and Lisbon may be welcoming, but their rental markets leave little room for savings.
As European policymakers debate housing reforms, the gap between western and southern Europe remains a pressing concern. For now, the message is clear: where you live in Europe determines not just your quality of life, but how much of your paycheck you actually keep.
