Frankfurt is known for its booming economy and astronomical rents. But how expensive is it really to live in the metropolis on the Main? The following text takes a detailed look at Frankfurt’s housing market – from the most popular neighborhoods to tips for finding an apartment and the most important landlords. The analysis shows that behind the headlines about exorbitant rents there can also be affordable options. Whether it’s a family neighborhood or a hip, trendy district, affordable or luxurious – Frankfurt has something for everyone. Anyone looking for a place to live here just needs to know where.
The housing market in Frankfurt am Main
Anyone looking to rent an apartment in Frankfurt am Main is faced with a dynamic real estate market. With an average rent of €19.95/m² and peak values of up to €25.53/m² in the city center, Frankfurt is one of the more expensive places in Germany. However, the city also offers more affordable corners, such as the area with the lowest rent of €10.60/m².
The best neighborhoods for your needs
Frankfurt is diverse: from the lively Nordend, which is particularly popular with young professionals, to family-friendly areas such as Sachsenhausen with its international schools and museums. Those looking for urban life will find what they are looking for in the Bahnhofsviertel, while the Ostend with the zoo and the European Central Bank is particularly popular with families.
Tips for a successful apartment search
Finding an apartment in Frankfurt can be challenging. Here are some tips to increase your chances:
- Preparedocuments: Have all the necessary documents ready so you can act quickly.
- Show flexibility: Be prepared to make compromises in order to find what you are looking for more quickly.
- Use online portals: Platforms such as Immonet, Immobilienscout 24, WG Gesucht, Tauschwohnung, eBay Kleinanzeigen offer a wide selection of rental apartments in Frankfurt.
Major landlords in Frankfurt: Who shapes the housing market?
Frankfurt am Main, as one of the most important financial centers in Europe, offers a diverse and dynamic housing market. For apartment seekers, it is therefore of interest to know who the big players in this market are. Here we present four major landlords in Frankfurt who make a significant contribution to shaping housing in the city.
ABG Frankfurt Holding
With around 54,000 apartments, ABG Frankfurt Holding is by far the largest landlord in Frankfurt am Main. As a municipal company, ABG plays a central role in the provision of housing and therefore bears a major social responsibility. ABG Frankfurt Holding offers a wide range of apartments, from affordable options to high-quality apartments in prime locations.
Vonovia
Vonovia is one of the leading housing companies in Germany and owns more than 500,000 apartments nationwide, including a significant portfolio in Frankfurt. As a listed company, Vonovia is a key player in the Frankfurt housing market and offers a variety of housing options to suit different needs and budgets.
Nassauische Heimstätte
Nassauische Heim stätte is another major landlord in Frankfurt that offers a wide range of apartments in the city and the surrounding region. With a focus on social housing and sustainable urban development, Nassauische Heimstätte is committed to creating liveable and affordable housing.
GWH Wohnungsgesellschaft mbH Hessen
GWH Wohnungsgesellschaft mbH Hessen, a subsidiary of Helaba Landesbank Hessen-Thüringen, is also a major player on the Frankfurt housing market. With a broad portfolio of apartments, GWH offers housing for a diverse tenant base in both the social housing and privately financed segments.
These four major landlords play a key role in shaping the housing market in Frankfurt am Main and offer a wide range of housing options for the city’s residents. Anyone looking to rent an apartment in Frankfurt will find a variety of options from these providers that meet a wide range of requirements.
Well-known districts in Frankfurt am Main: diversity and quality of life
Frankfurt am Main is a city of contrasts and diversity, which is also reflected in its neighborhoods. Some of the best-known districts are Bornheim, Bockenheim, Nordend, Sachsenhausen and the Bahnhofsviertel. These districts are distinguished by their unique characteristics and their popularity among residents and visitors.
Bornheim: the charming district
Bornheim, often affectionately referred to as “Bernem”, is known for its Berger Strasse, which invites you to stroll along with its numerous cafés, bars and stores. The high density of historic buildings from the 19th century gives the district a special flair and makes it one of the most popular residential areas in Frankfurt.
Bockenheim: university flair and diversity
Bockenheim, which is characterized by the Johann Wolfgang Goethe University, offers a lively environment with a mix of students, academics and families. Leipziger Strasse is the heart of the district and offers a variety of shopping opportunities and culinary delights.
Nordend: urban living and Wilhelminian-style architecture
Nordend is known for its impressive Wilhelminian-style houses and is one of the most densely populated districts in Frankfurt. With the Bethmannpark, Nordend also offers a green oasis that invites you to relax.
Sachsenhausen: cultural center and quality of life
Sachsenhausen, located south of the Main, is famous for its Museumsufer and traditional cider pubs. It is a district that offers both cultural highlights and a high quality of living and is particularly popular with families.
Bahnhofsviertel: change and multiculturalism
The Bahnhofsviertel has changed in recent years and is now a melting pot of cultures with a diverse gastronomic scene. Despite its sometimes dubious reputation, it attracts a young and creative scene and is constantly evolving.
In response to your request for a running text on affordable housing and support programmes in Frankfurt, I have written the following article:
Affordable housing in Frankfurt – a battle against windmills
In Frankfurt, the search for affordable housing for low-income earners is often in vain. Long waiting lists for social housing, rising rents and low vacancy rates mean that hope is fading. But the city is working to remedy the situation.
Funding programmes should bring relief
In order to create more affordable housing, Frankfurt has launched various municipal subsidy programmes. These are intended to make the construction of social housing and low-cost rental flats more attractive through favourable loans and grants.
The central programme is the “Frankfurt Programme for the Construction of Affordable Rental Housing” with two funding channels: Subsidy programme 1 is aimed at very low-income households, while subsidy programme 2 is aimed at middle-class households. The basic rent is well below the local comparative rent.
There are further subsidy programmes for student housing, housing projects and the purchase of owner-occupied residential property. Despite these efforts, affordable housing is still in short supply in Frankfurt.
Advice and information
The Housing Office can help you find social housing or subsidised rental accommodation. Eligible persons can be placed on waiting lists there. The office also provides information on funding opportunities.
The association “Mieter helfen Mietern” offers free legal advice on tenancy law. So if you have problems, don’t be afraid to seek help.
Despite all the hurdles involved in finding accommodation, there is support available from the City of Frankfurt. Those affected should take advantage of the offers, even if the struggle for affordable housing will continue.
FAQ: Frequently asked questions about renting in Frankfurt
What are the average rents in Frankfurt?
Average rents are €19.95/m², although prices vary depending on the neighbourhood
Which neighbourhoods are particularly popular?
Popular neighbourhoods include Nordend, Sachsenhausen, Westend, Bornheim and Bockenheim.
How can I improve my chances of finding accommodation?
Prepare all documents and show flexibility in your requirements.
How can I improve my chances of finding accommodation?
Frankfurt am Main, known as the heart of the financial sector in Germany, is also known for its high cost of living. The city attracts people from all over the world due to its economic importance, high quality of life and cultural diversity. But this attractiveness comes at a price, especially when it comes to housing. Rents in Frankfurt are among the highest in Germany, which raises the question: Is it expensive to live in Frankfurt?
Is it expensive to live in Frankfurt?
Rents in Frankfurt vary greatly depending on the location, size and condition of the flat. In the 4th quarter of 2023, the average asking rent for a flat in Frankfurt am Main was around €14.80 per square metre. However, rents can be significantly higher in sought-after districts such as the Westend. The rent index for Frankfurt am Main shows that rents can range between €13.41 and €22.43 per square metre, with the city centre being the most expensive with peak values of up to €25.53/m². These figures make it clear that living in Frankfurt is an expensive affair for many, especially when compared to other German cities.
How many flats are there in Frankfurt?
Frankfurt has an extensive housing stock that meets the diverse needs of its residents. At the end of 2021, the stock of flats in residential and non-residential buildings totalled 410,235 This figure reflects the dynamic development of Frankfurt’s housing market, which is constantly changing to meet the growing population and changing requirements. Despite the extensive housing supply, demand for housing in Frankfurt remains high, resulting in a tight housing market and rising rents.
Conclusion
Renting apartments in Frankfurt means getting involved in a lively market that offers both opportunities and challenges. However, with the right preparation and an open mind, you can find your new home in this vibrant city. After you have found an apartment, you should think about a fast internet connection!