Azerbaijan · Asia · Population: 2,300,000
Baku is relatively affordable for homebuyers, with rapidly rising prices driven by strong demand. The city has affordable rents compared to global standards. At $110,000 average home price in Azerbaijan, buyers should consider the 5.0x price-to-income ratio when planning a purchase.
| Average Home Price | $110,000 |
| Price per sqm | $1,500 |
| Price-to-Income Ratio | 5.0x |
| Mortgage Rate | 8.0% |
| 1-Year Price Change | +5.5% |
| 1-Bedroom Apartment | $450/mo |
| 3-Bedroom Apartment | $800/mo |
| Rent-to-Income Ratio | 20% |
| Median Household Income | $22,000/year |
| Years to Buy (at median income) | 5.0 years |
| Local Currency | AZN |
With a price-to-income ratio of 5.0x, Baku offers reasonable opportunities for homebuyers compared to global averages. Home prices have increased 5.5% in the past year.
Cities worldwide with home prices closest to Baku
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