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The house price to income index in Europe declined in 13 of the 28 European countries in 2024, indicating that income grew faster than house prices. Portugal had the highest house price to income index ranking, with values exceeding index points. Romania and Finland were on the other side of the spectrum, with less than 100 index points.

The house price to income ratio is an indicator for the development of housing affordability across OECD countries and is calculated as the nominal house prices divided by nominal disposable income per head, with 2015 chosen as a base year. A ratio higher than 100 means that the nominal house price growth since 2015 has outpaced the nominal disposable income growth, and housing is therefore comparatively less affordable. In 2024, the OECD average stood at index points.