A Home Now Costs More Years of Your Life Than Ever
UN Habitat's World Cities Report 2026 has a chapter titled The Housing Affordability Crisis, and the title is not being dramatic. The global median house price to income ratio rose from 9.3 in 2010 to 11.2 in 2023 (United Nations Human Settlements Programme, 2026).
Nearly 96% of countries are seriously, severely or impossibly unaffordable. Only Saudi Arabia and the United Arab Emirates fall below 3, the threshold for broad affordability (United Nations Human Settlements Programme, 2026).
The Map of Misery, With Numbers
Eastern and South Eastern Asia has the highest regional ratio at 17.5, and Hong Kong hit 23.4 in 2024. Central and Southern Asia rose 73%, from 9.7 to 16.8, while Sub-Saharan Africa sits at 8.9, with some countries two to three times higher (United Nations Human Settlements Programme, 2026).
| Hong Kong | 23.4 |
| Eastern and South Eastern Asia | 17.5 |
| Central and Southern Asia | 16.8 |
| Global median | 11.2 |
| Sub-Saharan Africa | 8.9 |
India shows how fast things can slip. In its eight largest cities, the affordable share of new builds fell from 52% in 2018 to 17% in 2025, and Mumbai's ratio is 14.3 (United Nations Human Settlements Programme, 2026).
Renting Is Not an Escape Hatch
If buying is out of reach, renting is hardly a bargain. A total of 44% of tenant households worldwide spend over 30% of income on rent. The rate is 55% in Sub-Saharan Africa, 50% in Europe and Northern America, and 48% in Latin America and the Caribbean (United Nations Human Settlements Programme, 2026).
The supply problem is stubborn. The global housing shortage grew from about 201.2 million units in 2010 to 268.8 million in 2023, after peaking at 280.3 million in 2020. More than 1.1 billion people live in informal settlements, and about 23% of adults feel insecure about their land or housing rights (United Nations Human Settlements Programme, 2026).
A Plot Twist From Finland
There is one genuinely hopeful number. Finland's Housing First approach reduced long term homelessness by 68% between 2008 and 2022 (United Nations Human Settlements Programme, 2026). Housing First means the front door comes before the lecture.
Housing First means the front door comes before the lecture.
What You Can Actually Do About It
Run your own numbers by dividing the price of the home you want by your annual income, and compare your rent with your income. If rent takes more than 30%, you are in the group this report highlights. Ask your local council or city hall what it is doing about housing supply, and support projects that add homes in your area. Then ask yourself, if you had to buy or rent your current home today, could you still afford it?
References
United Nations Human Settlements Programme. (2026). World cities report 2026, chapter 3, The housing affordability crisis. UN-Habitat. https://unhabitat.org/sites/default/files/2026/05/wcr_2026_chapter_3.pdf
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