Authored by the expert who managed and guided the team behind the Germany Property Pack
Yes, the analysis of Hamburg's property market is included in our pack
Hamburg has two rental realities: what tenants already pay in existing contracts, and what newcomers see when searching for apartments.
This gap matters a lot if you're planning to rent or invest in Hamburg's property market.
We update this blog post regularly to give you the freshest numbers on Hamburg rents.
And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Hamburg.
Insights
- The gap between new-lease rents (around 13 euros per square meter) and existing contract rents (around 9 to 10 euros per square meter) in Hamburg shows how much more newcomers pay compared to long-term tenants.
- Hamburg's official vacancy rate is 1.9%, but market-active vacancy sits below 1%, which explains why apartments in popular districts get snapped up in just two to three weeks.
- Properties near the University of Hamburg in Rotherbaum or TU Hamburg in Harburg rent significantly faster during October and April, when semester cycles drive student and staff demand.
- The Mietspiegel 2025 shows that location quality (normal versus good) can swing Hamburg rents by 20% or more, even for identical apartment sizes.
- Expats in Hamburg cluster near the International School of Hamburg area in Othmarschen, where rents often exceed 15 euros per square meter for family-sized apartments.
- Hamburg's new property tax rate (Grundsteuer B Hebesatz of 975%) took effect in 2025, and landlords can typically pass this cost to tenants under the Betriebskosten framework.
- The most demanded apartment size in Hamburg is 50 to 90 square meters, with 79% of landlords in good locations reporting re-letting times under three weeks.
- Rent growth for new leases in Hamburg has cooled to around 3% to 6% year-over-year, down from sharper increases in previous years.
What are typical rents in Hamburg as of 2026?
What's the average monthly rent for a studio in Hamburg as of 2026?
As of early 2026, the average monthly rent for a studio apartment (around 30 square meters) in Hamburg is approximately 400 euros cold rent, which equals roughly 415 USD or 385 EUR at current exchange rates.
Most studio rents in Hamburg fall between 320 euros and 500 euros per month (around 330 to 520 USD or 310 to 480 EUR), depending on the neighborhood and building condition.
The main factors that cause Hamburg studio rents to vary are location quality (central versus outer districts), building age, energy efficiency, and whether the unit has been recently renovated.
What's the average monthly rent for a 1-bedroom in Hamburg as of 2026?
As of early 2026, the average monthly rent for a 1-bedroom apartment (around 50 square meters) in Hamburg is approximately 665 euros cold rent, which equals roughly 690 USD or 640 EUR.
Most 1-bedroom rents in Hamburg range from 500 euros to 850 euros per month (around 520 to 880 USD or 480 to 820 EUR), depending on building quality and neighborhood.
For 1-bedroom apartments in Hamburg, the cheapest rents are typically found in outer districts like Rahlstedt or Harburg, while the highest rents appear in Eppendorf, Winterhude, and HafenCity.
What's the average monthly rent for a 2-bedroom in Hamburg as of 2026?
As of early 2026, the average monthly rent for a 2-bedroom apartment (around 70 square meters) in Hamburg is approximately 930 euros cold rent, which equals roughly 965 USD or 895 EUR.
Most 2-bedroom rents in Hamburg fall between 700 euros and 1,200 euros per month (around 725 to 1,245 USD or 675 to 1,155 EUR), depending on location and apartment condition.
The cheapest 2-bedroom apartments in Hamburg are typically found in Wilhelmsburg, Billstedt, and parts of Harburg, while the most expensive ones are in HafenCity, Eppendorf, and the Elbe-side neighborhoods like Blankenese and Othmarschen.
By the way, you will find much more detailed rent ranges in our property pack covering the real estate market in Hamburg.
What's the average rent per square meter in Hamburg as of 2026?
As of early 2026, the average rent per square meter for new leases in Hamburg is approximately 13.30 euros (around 13.80 USD or 12.80 EUR), while existing contract rents average between 9 and 10 euros per square meter.
Rent per square meter in Hamburg ranges from about 8 euros in outer districts like Billstedt to over 16 euros (around 8.30 to 16.60 USD or 7.70 to 15.40 EUR) in premium areas like HafenCity and Rotherbaum.
Compared to other major German cities, Hamburg sits in the upper tier, with rents lower than Munich but higher than Berlin and Cologne.
Properties that push rent per square meter above average in Hamburg typically feature modern energy-efficient heating, elevator access, balconies, and quiet locations near the Alster or parks.
How much have rents changed year-over-year in Hamburg in 2026?
As of early 2026, existing contract rents in Hamburg have increased by approximately 2% year-over-year, while new-lease asking rents have risen by around 3% to 6% depending on the district.
The main factors driving Hamburg rent changes in 2026 are persistently low vacancy rates (below 1% for market-active rentals), limited new construction relative to demand, and rising energy costs that make modern buildings more attractive.
This year's rent growth in Hamburg is more moderate than in 2024, when new-lease rents climbed faster due to sharper post-pandemic demand.
What's the outlook for rent growth in Hamburg in 2026?
As of early 2026, projected rent growth for Hamburg is between 1% and 3% for the year, with premium central districts likely to see slightly higher increases.
Key factors influencing Hamburg rent growth in 2026 include the structural housing shortage (Zensus 2022 showed only 1.9% vacancy), continued population inflows, and the pace of new apartment completions tracked in the city's annual Wohnungsbaubericht.
Neighborhoods expected to see the strongest rent growth in Hamburg include HafenCity, Altona, and areas near new transit developments where demand concentrates.
The main risks that could cause Hamburg rent growth to differ from projections are a sharper economic slowdown, unexpected construction completions, or changes to national rent regulation policies.
We have made this infographic to give you a quick and clear snapshot of the property market in Germany. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.
Which neighborhoods rent best in Hamburg as of 2026?
Which neighborhoods have the highest rents in Hamburg as of 2026?
As of early 2026, the three Hamburg neighborhoods with the highest average rents are HafenCity (around 16 to 18 euros per square meter, or 16.60 to 18.70 USD / 15.40 to 17.35 EUR), Rotherbaum/Harvestehude (around 15 to 17 euros per square meter), and Eppendorf (around 14 to 16 euros per square meter).
These Hamburg neighborhoods command premium rents because of their waterfront or Alster views, high-quality building stock, excellent transit connections, and concentration of upscale restaurants and shops.
Tenants in these high-rent Hamburg neighborhoods are typically executives, senior professionals, international company staff, and established families with higher household incomes.
By the way, we've written a blog article detailing what are the current best areas to invest in property in Hamburg.
Where do young professionals prefer to rent in Hamburg right now?
The three Hamburg neighborhoods most popular with young professionals are Sternschanze (Schanze), St. Pauli, and Eimsbüttel, all known for their nightlife, cafes, and excellent transit links.
Young professionals in these Hamburg neighborhoods typically pay between 650 and 950 euros per month (around 675 to 985 USD or 625 to 915 EUR) for a 1-bedroom apartment.
These neighborhoods attract young professionals because of their walkable streets, vibrant bar and restaurant scenes, proximity to creative industries, and easy S-Bahn and U-Bahn access to the city center.
By the way, you will find a detailed tenant analysis in our property pack covering the real estate market in Hamburg.
Where do families prefer to rent in Hamburg right now?
The three Hamburg neighborhoods most popular with families are Eppendorf, Winterhude, and Blankenese, all offering more space, quieter streets, and good schools.
Families in these Hamburg neighborhoods typically pay between 1,100 and 1,600 euros per month (around 1,140 to 1,660 USD or 1,060 to 1,540 EUR) for a 2 to 3-bedroom apartment.
These neighborhoods attract families because they combine green spaces, playgrounds, and safe residential streets with good shops and access to central Hamburg.
Top-rated schools near these family-friendly Hamburg neighborhoods include Gymnasium Eppendorf, Heinrich-Hertz-Schule in Winterhude, and Gymnasium Blankenese, along with several well-regarded primary schools.
Which areas near transit or universities rent faster in Hamburg in 2026?
As of early 2026, the three Hamburg areas near transit or universities that rent fastest are Rotherbaum/Grindel (near the University of Hamburg), Harburg (near TU Hamburg), and Altona station area.
Properties in these high-demand Hamburg areas typically stay listed for just 2 to 3 weeks, compared to 4 to 6 weeks in average neighborhoods.
The rent premium for apartments within walking distance of transit or universities in Hamburg is typically 50 to 100 euros per month (around 52 to 104 USD or 48 to 96 EUR) compared to similar units further away.
Which neighborhoods are most popular with expats in Hamburg right now?
The three Hamburg neighborhoods most popular with expats are Othmarschen/Nienstedten (near the International School of Hamburg), Eppendorf, and HafenCity.
Expats in these Hamburg neighborhoods typically pay between 1,200 and 1,800 euros per month (around 1,245 to 1,870 USD or 1,155 to 1,735 EUR) for a 2-bedroom apartment.
These neighborhoods attract expats because of their proximity to international schools, English-speaking communities, high-quality housing stock, and easy commutes to major employers.
The most represented expat communities in these Hamburg neighborhoods include British, American, Dutch, and Scandinavian professionals, often working in shipping, consulting, or multinational companies.
And if you are also an expat, you may want to read our exhaustive guide for expats in Hamburg.
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Who rents, and what do tenants want in Hamburg right now?
What tenant profiles dominate rentals in Hamburg?
The three tenant profiles that dominate Hamburg's rental market are singles and couples (especially in central districts), young professionals with job mobility, and small families looking for 50 to 90 square meter apartments.
Singles and couples represent roughly 50% of Hamburg renters, young professionals account for about 25%, and families make up around 20%, with the remaining 5% being students and retirees.
Singles and couples typically seek 1 to 2-bedroom apartments in central or nightlife-rich areas, young professionals prefer transit-accessible neighborhoods, and families focus on 2 to 3-bedroom units near schools and green spaces.
If you want to optimize your cashflow, you can read our complete guide on how to buy and rent out in Hamburg.
Do tenants prefer furnished or unfurnished in Hamburg?
In Hamburg, approximately 80% of long-term tenants prefer unfurnished apartments, while around 20% (mainly expats and short-term movers) look for furnished options.
The typical rent premium for furnished apartments in Hamburg is 100 to 200 euros per month (around 104 to 208 USD or 96 to 193 EUR) compared to equivalent unfurnished units.
Tenants who prefer furnished rentals in Hamburg are primarily international professionals on temporary assignments, corporate relocations, and students who need move-in-ready solutions.
Which amenities increase rent the most in Hamburg?
The five amenities that increase Hamburg rents the most are modernized energy-efficient heating, elevator access, a balcony or terrace, a high-quality bathroom, and a quiet yet central location near the Alster or parks.
Energy-efficient heating can add 30 to 50 euros per month to Hamburg rents (around 31 to 52 USD or 29 to 48 EUR), an elevator adds 20 to 40 euros, a balcony adds 30 to 60 euros, a modern bathroom adds 25 to 50 euros, and a premium quiet location can add 50 to 100 euros monthly.
In our property pack covering the real estate market in Hamburg, we cover what are the best investments a landlord can make.
What renovations get the best ROI for rentals in Hamburg?
The five renovations with the best ROI for Hamburg rental properties are energy-efficiency upgrades (insulation and windows), bathroom modernization, sound insulation, durable flooring, and fresh paint.
Energy upgrades typically cost 5,000 to 15,000 euros (around 5,190 to 15,570 USD or 4,820 to 14,450 EUR) and can increase monthly rent by 30 to 60 euros, bathroom renovations cost 3,000 to 8,000 euros and add 25 to 50 euros monthly, sound insulation costs 1,000 to 3,000 euros and adds 15 to 30 euros, flooring costs 1,500 to 4,000 euros and adds 10 to 25 euros, and fresh paint costs 500 to 1,500 euros and helps minimize vacancy.
Renovations with poor ROI that Hamburg landlords should avoid include luxury kitchen installations (often not recouped in rent) and custom built-in furniture that may not match tenant preferences.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Germany versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.
How strong is rental demand in Hamburg as of 2026?
What's the vacancy rate for rentals in Hamburg as of 2026?
As of early 2026, the effective rental-market vacancy rate in Hamburg is approximately 0.5% to 1.0%, meaning the city operates at near-full occupancy for rental apartments.
Vacancy rates across Hamburg neighborhoods range from essentially 0% in premium central districts like Eppendorf and Winterhude to around 2% in outer areas like Billstedt and parts of Bergedorf.
The current Hamburg vacancy rate is well below the historical average of around 2% to 3%, reflecting persistent housing shortage conditions that have tightened steadily over the past decade.
Finally please note that you will have all the indicators you need in our property pack covering the real estate market in Hamburg.
How many days do rentals stay listed in Hamburg as of 2026?
As of early 2026, rental apartments in Hamburg stay listed for an average of 3 to 4 weeks before being rented.
Days on market in Hamburg ranges from just 2 to 3 weeks in top inner districts like Eppendorf and Winterhude, to 6 to 10 weeks in outer or less-demanded areas like Billstedt and Wilhelmsburg.
The current days-on-market figure in Hamburg is similar to one year ago, as the tight vacancy situation has kept demand consistently strong throughout 2025.
Which months have peak tenant demand in Hamburg?
Peak tenant demand in Hamburg occurs in spring (March to May) and around the semester starts in early October and early April.
The specific factors driving Hamburg's seasonal demand are university semester cycles (students and staff moving), corporate relocation patterns that favor spring and autumn, and the general German preference for moving in warmer months.
The lowest tenant demand in Hamburg typically falls in December and January, when holiday periods and cold weather discourage moves.
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What will my monthly costs be in Hamburg as of 2026?
What property taxes should landlords expect in Hamburg as of 2026?
As of early 2026, landlords in Hamburg should expect annual property tax (Grundsteuer B) of roughly 200 to 600 euros (around 208 to 623 USD or 193 to 578 EUR) for a typical apartment, depending on property value and size.
Property taxes in Hamburg range from about 150 euros per year for small older apartments to over 1,000 euros (around 156 to 1,038 USD or 145 to 964 EUR) for larger or more valuable properties in prime locations.
Hamburg property taxes are calculated using the assessed property value (Grundsteuerwert), a municipal rate (Hebesatz of 975% from 2025), and a base rate (Messzahl), which together determine the final tax bill.
Please note that, in our property pack covering the real estate market in Hamburg, we cover what exemptions or deductions may be available to reduce property taxes for landlords.
What maintenance budget per year is realistic in Hamburg right now?
A realistic annual maintenance budget for a typical Hamburg rental apartment is 1,000 to 2,000 euros (around 1,038 to 2,076 USD or 964 to 1,928 EUR), or roughly 15 to 30 euros per square meter.
Maintenance costs in Hamburg range from about 10 euros per square meter per year for newer buildings to 35 euros or more (around 10 to 36 USD or 10 to 34 EUR) for older Altbau properties that need more frequent repairs.
Experienced Hamburg landlords typically set aside 10% to 15% of their annual rental income for maintenance and unexpected repairs.
What utilities do landlords often pay in Hamburg right now?
In Hamburg, landlords typically do not pay utilities directly; instead, they collect utility costs (Nebenkosten) from tenants through monthly advance payments that are settled annually.
The average Nebenkosten in Hamburg runs about 3.30 euros per square meter per month (around 3.40 USD or 3.20 EUR), covering heating, water, garbage collection, building insurance, and property tax.
The common practice in Hamburg is that tenants pay all operating costs defined under the Betriebskostenverordnung, while landlords separately cover non-allocable expenses like administration fees and major maintenance reserves.
How is rental income taxed in Hamburg as of 2026?
As of early 2026, rental income in Hamburg is taxed as regular income under the category "Einkünfte aus Vermietung und Verpachtung" at your personal income tax rate, which ranges from 0% to 45% depending on total income.
Landlords in Hamburg can deduct mortgage interest, depreciation (typically 2% per year for buildings), maintenance costs, property management fees, property tax, and insurance premiums from their rental income.
A common Hamburg-specific tax mistake landlords should avoid is failing to properly separate Betriebskosten (pass-through costs) from deductible expenses, which can trigger audits or disallowed deductions.
We cover these mistakes, among others, in our list of risks and pitfalls people face when buying property in Hamburg.
We made this infographic to show you how property prices in Germany compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
What sources have we used to write this blog article?
Whether it's in our blog articles or the market analyses included in our property pack about Hamburg, we always rely on the strongest methodology we can … and we don't throw out numbers at random.
We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.
| Source | Why it's authoritative | How we used it |
|---|---|---|
| Hamburg Mietenspiegel 2025 Table | It's Hamburg's official qualified rent mirror used in real rent-setting and legal disputes. | We used it as the ground truth for existing contract rents by size, building age, and location quality. We also used its structure to explain what drives rent differences across Hamburg neighborhoods. |
| Hamburg Mietenspiegel 2025 Brochure | It documents the methodology and legal status of the Mietspiegel, a core German rent benchmark. | We used it to explain what Nettokaltmiete means and how the Mietspiegel is built. We also used it to clarify which costs are not included in cold rent. |
| Statistikportal.de Hamburg | It's an official statistics portal with time series for rent indices. | We used it to quantify how fast existing rents are moving over time. We used the 2024-2025 index path to project our January 2026 estimate. |
| IVD Nord Hamburger Mietenstudie 2025 | It summarizes an unusually large dataset of 283,000 actual leases, not just listings. | We used it as a second anchor for real paid rents and the gap between new and existing leases. We also used its Nebenkosten figure to translate cold rent into realistic monthly costs. |
| Mieterverein zu Hamburg | It's a major local tenant institution that directly references the official Mietenspiegel results. | We used it to cross-check the headline average comparison rent and the two-year change. We used it to sanity-check that our 2026 projections are not overstated. |
| ImmoScout24 | It's a leading German property portal with transparent listing-based rent tracking. | We used it to estimate new-lease asking rents, which is what movers actually see. We used its Q3 2025 level and year-over-year change as our main market rent input for January 2026. |
| GREIX Mietpreisindex (Kiel Institute) | It's produced by a major research institute and explicitly documents its hedonic index methodology. | We used it to validate the direction and pace of asking-rent changes. We used its methodology notes to explain why we trust the trend even when portals differ. |
| IVD Nord Hamburg Rental Survey | It's an industry association survey focused specifically on Hamburg's rental market. | We used it to estimate days-on-market and which size bands are most demanded. We used it to support neighborhood-style guidance on which inner districts rent fastest. |
| Statistik Nord Zensus 2022 | It's an official statistical agency release based on the census. | We used it as the best official baseline for structural vacancy in the housing stock. We then contrasted it with market-active vacancy to explain why renters still feel scarcity. |
| Hamburg Finance Authority | It's the official Hamburg government tax guidance page. | We used it to state the Grundsteuer B rate parameters applying from 2025 onward. We used it to translate what landlords should expect into a practical line item. |
| Betriebskostenverordnung (BetrKV) §2 | It's the official consolidated federal law portal. | We used it to define which operating costs are legally Betriebskosten and can be passed to tenants. We used it to clearly separate pass-through costs from landlord-only costs. |
| Einkommensteuergesetz (EStG) §21 | It's the official federal law portal for the income tax code. | We used it to anchor how Germany legally treats rental income. We used it to explain that rental profit is taxed under normal income tax rules, not a special flat rate. |
| BMF Tax Changes 2025 | It's a primary federal government publication. | We used it to support how the income tax tariff is adjusted, including the 2026 indexation note. We used it to keep the tax discussion factual and date-accurate. |
| University of Hamburg | It's the official university calendar and a real driver of local rental seasonality. | We used it to explain why demand spikes around semester starts. We used it to name the specific busy months pattern for Hamburg rather than giving generic seasonality advice. |
| TU Hamburg | It's the official university site and confirms the Harburg campus location. | We used it when naming near-university rental corridors around Harburg and TUHH. We used it to keep neighborhood advice concrete and Hamburg-specific. |
| AGIS Schools | It's an authoritative directory of international schools in Germany. | We used it to identify where the International School of Hamburg is located. We used this as an anchor for explaining where expat families tend to cluster in Hamburg. |
| Die Welt (rent trends) | It's a major German news outlet reporting on real estate market developments. | We used it to validate that Hamburg listing rents have recently cooled. We used its reporting to support our projection of modest growth heading into 2026. |
| Hamburg Wohnungsbaubericht 2024 | It's the official city report on housing construction and stock. | We used it to understand the supply side of Hamburg's rental market. We used it to explain how new completions affect rent growth projections. |
| Sparkasse | It's a trusted German financial institution with practical property guidance. | We used it as a reference for typical maintenance reserve calculations. We used its per-square-meter guidelines and adjusted them for Hamburg's building stock. |
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