Colombia · South America · Population: 2,500,000
Medellin is moderately affordable compared to major global cities, with steady growth in property values. The city has affordable rents compared to global standards. At $85,000 average home price in Colombia, buyers should consider the 7.2x price-to-income ratio when planning a purchase.
| Average Home Price | $85,000 |
| Price per sqm | $1,500 |
| Price-to-Income Ratio | 7.2x |
| Mortgage Rate | 12.5% |
| 1-Year Price Change | +3.8% |
| 1-Bedroom Apartment | $400/mo |
| 3-Bedroom Apartment | $700/mo |
| Rent-to-Income Ratio | 32% |
| Median Household Income | $12,000/year |
| Years to Buy (at median income) | 7.2 years |
| Local Currency | COP |
With a price-to-income ratio of 7.2x, Medellin offers reasonable opportunities for homebuyers compared to global averages. Home prices have increased 3.8% in the past year.
Cities worldwide with home prices closest to Medellin
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