Authored by the expert who managed and guided the team behind the Latvia Property Pack
Yes, the analysis of Riga's property market is included in our pack
This article breaks down current rental prices in Riga, covering studios, 1-bedrooms, and 2-bedrooms across different neighborhoods.
We constantly update this blog post to reflect the latest rent data and market trends in Riga as of the first half of 2026.
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 Riga.
Insights
- Rents in Riga have risen about 6 to 8% year-over-year in 2026, with central neighborhoods like Centrs and Vecrīga seeing the steeper increases due to limited supply.
- A studio in Riga costs around €490 per month on average, but you can find options from €350 in outer districts like Purvciems up to €750 in the Quiet Centre.
- Heating efficiency is a major rent driver in Riga because winter utility bills can swing significantly, making well-insulated apartments worth €50 to €100 more per month.
- Expats in Riga cluster heavily in Klusais centrs and Vecrīga, where English-friendly services and walkability justify rent premiums of 20 to 30% above the city average.
- Vacancy rates in Riga sit around 4 to 6% in January 2026, tight enough to keep rents rising but not so tight that landlords can ignore pricing competitiveness.
- Well-priced rentals in Riga typically find tenants within 10 to 20 days, while overpriced or poorly heated units can sit for 60 days or more.
- Rental income in Latvia is taxed at a flat 10% for individuals, making it one of the simpler tax regimes for landlords in the Baltic region.
- Āgenskalns has become a favorite for young professionals in Riga, offering left-bank charm and improving cafes at rents 15 to 20% below Centrs.
What are typical rents in Riga as of 2026?
What's the average monthly rent for a studio in Riga as of 2026?
As of early 2026, the average monthly rent for a studio apartment in Riga is around €490, which is approximately $515 USD.
Most studio rentals in Riga fall within a realistic range of €400 to €600 per month (about $420 to $630 USD), depending on location and building quality.
The main factors that cause studio rents to vary in Riga are neighborhood (central Centrs or Vecrīga command premiums), building condition (renovated versus Soviet-era), and heating efficiency, which matters a lot during cold Riga winters.
What's the average monthly rent for a 1-bedroom in Riga as of 2026?
As of early 2026, the average monthly rent for a 1-bedroom apartment in Riga is around €880, which is approximately $925 USD.
Most 1-bedroom rentals in Riga fall within a realistic range of €650 to €1,050 per month (about $680 to $1,100 USD), with renovated units in good buildings sitting at the higher end.
The cheapest 1-bedroom rents in Riga tend to be in outer estates like Purvciems, Imanta, and Zolitūde (often €550 to €800), while the highest rents are found in Centrs, Klusais centrs, and Vecrīga-adjacent areas (€850 to €1,300 or more).
What's the average monthly rent for a 2-bedroom in Riga as of 2026?
As of early 2026, the average monthly rent for a 2-bedroom apartment in Riga is around €1,370, which is approximately $1,440 USD.
Most 2-bedroom rentals in Riga fall within a realistic range of €950 to €1,650 per month (about $1,000 to $1,730 USD), with larger or premium units exceeding this range.
The most affordable 2-bedroom rents in Riga are found in outer estates like Imanta and Purvciems (often €800 to €1,150), while central neighborhoods like Centrs and Klusais centrs can reach €1,600 to €2,200 or higher for renovated, spacious flats.
By the way, you will find much more detailed rent ranges in our property pack covering the real estate market in Riga.
What's the average rent per square meter in Riga as of 2026?
As of early 2026, the average rent per square meter in Riga is around €14 to €18 per month, which is approximately $15 to $19 USD per square meter.
The realistic range across Riga neighborhoods spans from €10 to €14 per square meter in Soviet-era housing estates (about $10.50 to $15 USD) up to €18 to €25 per square meter in premium central areas ($19 to $26 USD).
Compared to other Baltic capitals, Riga's rent per square meter is generally lower than Tallinn but similar to Vilnius, making it a relatively affordable option in the region.
Properties that push rent per square meter above average in Riga typically have modern renovations, good energy performance, building elevators, secure entry systems, and prime central locations near parks or the riverfront.
How much have rents changed year-over-year in Riga in 2026?
As of early 2026, rents in Riga have increased by approximately 6 to 8% compared to January 2025, with premium central units seeing the higher end of that range.
The main factors driving rent increases in Riga this year include limited supply in walkable central neighborhoods, continued demand from professionals and expats, and tenants' willingness to pay more for energy-efficient apartments with lower heating costs.
This year's rent growth in Riga is similar to the previous year's trend, which also saw mid-single-digit increases, though the pace has moderated slightly from the sharper jumps seen in 2023 and 2024.
What's the outlook for rent growth in Riga in 2026?
As of early 2026, rent growth in Riga is projected to be moderate at around 3 to 6% for the year, rather than the sharper spikes seen in recent years.
Key factors likely to influence Riga rent growth include the gradual delivery of new apartment projects, evolving financing conditions, and continued demand from professionals seeking well-located, energy-efficient housing.
Neighborhoods expected to see the strongest rent growth in Riga are Centrs, Klusais centrs, and Skanste, where supply remains tight and demand from expats and local professionals stays robust.
Risks that could cause Riga rent growth to differ from projections include unexpected shifts in economic conditions, changes in mortgage rates affecting homeownership versus renting decisions, and any oversupply if multiple new developments deliver simultaneously.
We have made this infographic to give you a quick and clear snapshot of the property market in Latvia. 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 Riga as of 2026?
Which neighborhoods have the highest rents in Riga as of 2026?
As of early 2026, the top three neighborhoods with the highest average rents in Riga are Vecrīga (Old Town), Klusais centrs (Quiet Centre), and Centrs, where 1-bedroom apartments typically rent for €1,000 to €1,500 per month (about $1,050 to $1,575 USD).
These Riga neighborhoods command premium rents because they offer walkability to offices, restaurants, and cultural venues, plus renovated historic buildings with character and secure, well-maintained common areas.
The tenant profile in these high-rent Riga neighborhoods typically includes expats on corporate assignments, embassy staff, senior professionals, and business owners who prioritize location and quality over cost.
By the way, we've written a blog article detailing what are the current best areas to invest in property in Riga.
Where do young professionals prefer to rent in Riga right now?
The top three neighborhoods where young professionals prefer to rent in Riga are Centrs (including the Skanste area), Āgenskalns, and Teika.
Young professionals in these Riga neighborhoods typically pay €650 to €950 per month for a 1-bedroom apartment (about $680 to $1,000 USD), with Āgenskalns often offering the best value.
These neighborhoods attract young professionals in Riga because they offer good public transport links, a growing cafe and restaurant scene, and a walkable lifestyle without the premium prices of Vecrīga or Klusais centrs.
By the way, you will find a detailed tenant analysis in our property pack covering the real estate market in Riga.
Where do families prefer to rent in Riga right now?
The top three neighborhoods where families prefer to rent in Riga are Mežaparks, Teika, and Āgenskalns.
Families in these Riga neighborhoods typically pay €1,000 to €1,500 per month for a 2 to 3-bedroom apartment (about $1,050 to $1,575 USD), with Mežaparks at the higher end due to larger units.
These neighborhoods attract families in Riga because they offer green spaces, quieter residential streets, good daily services like grocery stores and pharmacies, and a sense of community.
Top educational options near these family-friendly Riga neighborhoods include the International School of Latvia (near Teika), Riga State Gymnasium options in Centrs, and several well-regarded public schools in Mežaparks and Āgenskalns.
Which areas near transit or universities rent faster in Riga in 2026?
As of early 2026, the top three areas near transit hubs or universities that rent fastest in Riga are Centrs, Torņakalns, and Teika.
Well-priced properties in these high-demand Riga areas typically stay listed for just 10 to 15 days, compared to 20 to 30 days in less connected neighborhoods.
The typical rent premium for properties within walking distance of transit or universities in Riga is around €50 to €100 per month (about $50 to $105 USD), reflecting the convenience tenants are willing to pay for.
Which neighborhoods are most popular with expats in Riga right now?
The top three neighborhoods most popular with expats in Riga are Klusais centrs (Quiet Centre), Centrs, and Vecrīga, with parts of Ķīpsala also attracting international residents.
Expats in these Riga neighborhoods typically pay €900 to €1,400 per month for a 1-bedroom apartment (about $945 to $1,470 USD), with furnished options at the higher end.
These neighborhoods attract expats in Riga because they offer English-friendly services, walkability to international offices and embassies, premium renovated apartments, and easy access to restaurants and cultural venues.
The expat communities most represented in these Riga neighborhoods include professionals from the UK, Germany, Scandinavia, and the US, often working in IT, finance, or for multinational companies and diplomatic missions.
And if you are also an expat, you may want to read our exhaustive guide for expats in Riga.
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Who rents, and what do tenants want in Riga right now?
What tenant profiles dominate rentals in Riga?
The top three tenant profiles that dominate the rental market in Riga are local professionals (singles and couples), families seeking more space, and expats on corporate or embassy assignments.
Local professionals make up roughly 50 to 55% of Riga's rental demand, families account for about 25 to 30%, and expats represent around 15 to 20%, with the expat share higher in central premium neighborhoods.
Local professionals in Riga typically seek studios or 1-bedroom apartments in well-connected areas, families look for 2 to 3-bedroom units in quieter neighborhoods like Teika or Mežaparks, and expats often want furnished 1 to 2-bedroom flats in Centrs or Klusais centrs.
If you want to optimize your cashflow, you can read our complete guide on how to buy and rent out in Riga.
Do tenants prefer furnished or unfurnished in Riga?
In Riga, roughly 55 to 60% of tenants prefer furnished or partly furnished rentals, while 40 to 45% prefer unfurnished apartments where they can bring their own furniture.
The typical rent premium for a furnished apartment in Riga is around €80 to €150 per month (about $85 to $160 USD) compared to an equivalent unfurnished unit.
Tenant profiles that tend to prefer furnished rentals in Riga include expats, young professionals relocating for work, and anyone seeking a quick move-in without the hassle of buying furniture.
Which amenities increase rent the most in Riga?
The top five amenities that increase rent the most in Riga are efficient heating and good insulation, a renovated building with secure entry, dedicated parking, a working elevator (especially in older buildings), and a modern kitchen with quality appliances.
These amenities command the following rent premiums in Riga: good heating and insulation add €50 to €100 per month ($50 to $105 USD), renovated common areas add €30 to €70 ($30 to $75 USD), parking adds €50 to €100 ($50 to $105 USD), an elevator adds €30 to €60 ($30 to $65 USD), and a modern kitchen adds €40 to €80 ($40 to $85 USD).
In our property pack covering the real estate market in Riga, we cover what are the best investments a landlord can make.
What renovations get the best ROI for rentals in Riga?
The top five renovations that get the best ROI for rental properties in Riga are window replacement and insulation improvements, kitchen refresh (cabinets, counters, appliances), bathroom modernization, new flooring and fresh paint, and upgraded lighting fixtures.
These renovations in Riga typically cost and return the following: windows and insulation cost €2,000 to €5,000 ($2,100 to $5,250 USD) and can add €50 to €100 monthly rent; a kitchen refresh costs €1,500 to €4,000 ($1,575 to $4,200 USD) and adds €40 to €80 monthly; bathroom work costs €1,000 to €3,000 ($1,050 to $3,150 USD) and adds €30 to €60 monthly; flooring and paint cost €500 to €1,500 ($525 to $1,575 USD) and add €20 to €50 monthly; and lighting costs €200 to €500 ($210 to $525 USD) and adds €10 to €20 monthly.
Renovations that tend to have poor ROI in Riga and should be avoided include overly luxurious finishes that exceed neighborhood standards, structural changes that don't add functional space, and high-end smart home systems that tenants don't prioritize.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Latvia 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 Riga as of 2026?
What's the vacancy rate for rentals in Riga as of 2026?
As of early 2026, the vacancy rate for rental properties in Riga is estimated at around 4 to 6%, indicating a relatively tight market where demand is absorbing supply steadily.
The realistic range of vacancy rates across Riga neighborhoods spans from around 2 to 4% in high-demand central areas like Centrs and Klusais centrs, up to 6 to 8% in outer estates like Zolitūde or Bolderāja where turnover is higher.
The current vacancy rate in Riga is slightly below the historical average of 6 to 8%, reflecting sustained demand and limited new rental supply in prime locations.
Finally please note that you will have all the indicators you need in our property pack covering the real estate market in Riga.
How many days do rentals stay listed in Riga as of 2026?
As of early 2026, the average number of days rentals stay listed in Riga is around 15 to 25 days for competitively priced properties.
The realistic range across property types and neighborhoods in Riga spans from 10 to 20 days for well-priced units in central areas, up to 30 to 60 days or more for overpriced apartments or those with issues like poor heating, bad layouts, or no elevator.
The current days-on-market figure in Riga is similar to one year ago, though slightly faster in premium central neighborhoods where demand has remained strong throughout 2025.
Which months have peak tenant demand in Riga?
The peak months for tenant demand in Riga are typically late August through September, driven by the start of the academic year and professionals settling into new jobs after summer.
The specific factors driving seasonal demand in Riga include university enrollment cycles, companies starting new employees after summer holidays, and the natural preference to move before winter makes relocations less appealing.
The months with the lowest tenant demand in Riga are typically December and January, when holidays slow down decision-making and harsh winter weather discourages moving.
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What will my monthly costs be in Riga as of 2026?
What property taxes should landlords expect in Riga as of 2026?
As of early 2026, landlords in Riga should expect annual property taxes of roughly €200 to €600 for a typical apartment (about $210 to $630 USD), depending on the property's cadastral value.
The realistic range of annual property taxes in Riga spans from around €100 to €300 ($105 to $315 USD) for smaller or lower-value properties, up to €600 to €1,500 or more ($630 to $1,575 USD) for larger or premium central apartments.
Property taxes in Riga are calculated based on the cadastral value of the property, with rates typically ranging from 0.2% to 0.6% for standard residential properties, set by the municipality according to property status and use.
Please note that, in our property pack covering the real estate market in Riga, we cover what exemptions or deductions may be available to reduce property taxes for landlords.
What utilities do landlords often pay in Riga right now?
In Riga, landlords most commonly pass through all utilities to tenants, including heating, water, electricity, waste collection, and building maintenance fees, with the lease explicitly stating what's included.
When landlords do cover certain costs in Riga, they typically handle building-level charges that aren't easily separated, which can run €30 to €80 per month ($30 to $85 USD) depending on the building's management structure.
The common practice in Riga is for tenants to pay utilities separately based on actual consumption, with heating being the largest variable cost (it can swing from €50 in summer to €150 or more in winter for a 50 square meter apartment).
How is rental income taxed in Riga as of 2026?
As of early 2026, rental income in Latvia is taxed at a flat rate of 10% for individual landlords, making it one of the more straightforward tax regimes in the Baltic region.
The main deductions landlords can claim against rental income in Latvia include property depreciation, repair and maintenance costs, property management fees, and mortgage interest, though the simplified 10% rate often makes itemizing less attractive.
A common tax mistake specific to Riga landlords is failing to properly register rental income with VID (the State Revenue Service) or underestimating the importance of keeping receipts for deductible expenses, which can lead to penalties during audits.
We cover these mistakes, among others, in our list of risks and pitfalls people face when buying property in Riga.
We made this infographic to show you how property prices in Latvia 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 Riga, 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 |
|---|---|---|
| Eurostat HICP via FRED | It's the EU's official harmonised rent inflation series, redistributed by a central-bank-grade data platform. | We used it to measure how rents have been moving nationally and to anchor the year-over-year rent change. We also used the latest index level to time-adjust late-2025 asking-rent medians into January 2026. |
| Global Property Guide | It's a long-running, methodology-forward housing data publisher used by global institutions. | We used its Riga monthly rent medians by unit type as our market asking rent baseline for January 2026. We cross-checked its neighborhood-level examples to keep the neighborhood section concrete. |
| City24 | It's a major regional property portal whose listings are primary market evidence used in professional datasets. | We treated City24 as raw asking rent supply that underpins the median-rent approach. We used it for triangulation rather than as a standalone source. |
| Central Statistical Bureau of Latvia | It's Latvia's official national statistics agency with authoritative housing data. | We used CSP housing structure data to convert monthly rents into realistic per-square-meter estimates. We also used it as a reality check on assumed apartment sizes in Riga. |
| ECB Data Portal | It's an official European Central Bank data gateway that republishes Eurostat datasets with standardised series keys. | We used it to corroborate that the rent inflation concept is the official HICP actual rentals for housing series. We used it as a second authoritative reference point alongside FRED. |
| Ministry of Finance of Latvia | It's an official government publication describing Latvia's tax framework. | We used it to ground how property-related taxes work in practice. We used it to keep the monthly costs section aligned with government wording and rates. |
| State Revenue Service (VID) | It's Latvia's tax authority, the source of truth for income taxation and compliance. | We used it as the authoritative reference for rental income taxation administration. We paired it with rate summaries from advisory firms for readability. |
| Grant Thornton Latvia | It's a major international accounting firm that publishes clear, up-to-date tax summaries. | We used it to present rental-income tax rates in plain language. We cross-checked rates against official government sources to avoid relying on a single secondary summary. |
| Rīgas Siltums | It's the main district heating provider for Riga, publishing the tariff that flows into many winter utility bills. | We used it to explain why utilities in Riga can swing seasonally. We used it as a concrete, Riga-specific input to the monthly costs discussion. |
| Public Utilities Commission (SPRK) | It's Latvia's utilities regulator, publishing tariff filings and summaries. | We used it to corroborate that heating tariffs are regulated. We used it to keep the utilities section verifiable and official. |
| Colliers Baltic | It's a global real estate services firm that publishes professional market research. | We used it for macro context on demand, supply, and what's driving the Riga market. We used it to triangulate the outlook section with professional research. |
| Arco Real Estate | It's a long-standing Latvian real estate firm publishing regular, dated market overviews. | We used it to triangulate the broader Riga housing market direction. We used it as a local professional counterpoint to international datasets. |
| Latvia Sotheby's International Realty | It's a top-tier brokerage brand whose research is especially relevant for Riga's premium and expat submarket. | We used it to inform what counts as premium in Riga and what features command higher rents. We used it only for segmentation, not as the citywide average. |
| Global Property Guide (Landlord-Tenant) | It's a widely used cross-country legal and rental-market explainer that cites Latvia's governing laws. | We used it to explain that rents are generally negotiable and increases depend on the contract. We used it to support the tenant preferences and lease guidance sections. |
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