Short answer: the average salary in Ukraine for August 2026 (UAH 31,892 before tax, Derzhstat, the State Statistics Service) equals about 0.58 m² of resale housing in Odesa. A 70 m² flat costs roughly 10 annual salaries, or about 13 if you use the average salary of Odesa region. In European cities, according to Deloitte Property Index 2025, the same ratio ranges from 4.9 annual salaries in Turin and Odense to 15.4 in Amsterdam. Below we show where the figures come from and how we calculated them, so you can check the maths and plug in your own income.
Where the figures come from
We only use data with a date and a source:
- Salary in Ukraine: UAH 31,892, the average nominal salary of a full-time employee for August 2026, Derzhstat.
- Salary in Odesa region: UAH 24,300 for April 2026, the latest regional month we found in Derzhstat data. There is no monthly series for the city of Odesa alone, so we use the region.
- Housing price in Odesa: median of $1,227 per m², asking prices on the resale market in the FAKTOR database as of 30.09.2026, 3,584 listings.
- Exchange rate: official National Bank of Ukraine rate for 30.09.2026, UAH 44.8624 per dollar and UAH 50.9278 per euro.
- Europe: Deloitte Property Index, 14th edition (August 2025). It measures affordability as the number of average gross annual salaries needed to buy a new 70 m² flat, using 2024 prices.
How we calculated it
- Price of 1 m² in hryvnias: $1,227 × 44.8624 = UAH 55,046.
- Square metres per monthly salary: 31,892 / 55,046 = 0.58 m². For Odesa region: 24,300 / 55,046 = 0.44 m².
- Price of a 70 m² flat: $1,227 × 70 = $85,890, or UAH 3,853,232.
- Annual salary: 31,892 × 12 = UAH 382,704; for the region 24,300 × 12 = UAH 291,600.
- Annual salaries per flat: 3,853,232 / 382,704 = 10.1; for the region 3,853,232 / 291,600 = 13.2.
| Indicator | Ukraine average, August 2026 | Odesa region, April 2026 |
|---|---|---|
| m² per monthly salary | 0.58 | 0.44 |
| Monthly salaries per 70 m² | 121 | 159 |
| Annual salaries per 70 m² | 10.1 | 13.2 |
Like Deloitte, we use gross salary, before personal income tax and the military levy are deducted. Take-home pay is lower, so the real saving period is longer. The calculation also ignores living costs: it shows the ratio between prices and incomes, not how long it takes to save for a flat.
How it compares with Europe
Deloitte Property Index 2025 compares cities with the same logic: how many average gross annual salaries a new 70 m² flat costs.
| City | Annual salaries per 70 m² |
|---|---|
| Amsterdam | 15.4 |
| Athens | 15.3 |
| Prague | 15.0 |
| Budapest | 11.4 |
| Odesa (our calculation, Ukraine average salary) | 10.1 |
| Katowice | 7.1 |
| Manchester | 5.3 |
| Turin, Odense | 4.9 |
By price per metre, Odesa is one of the cheapest in the comparison: $1,227 at the NBU rate is about €1,081 per m². In the same report the average price of new housing for 2024 was €5,030 per m² in the Czech Republic, €4,800 in Germany, €2,792 in Poland, €1,676 in Romania (all housing, new and resale) and €949 in Turkey.
Why the comparison is only approximate
- Different markets. Deloitte uses prices of new flats, we use the median asking price on the Odesa resale market. The final deal price is usually a little below the asking price.
- Different years. European prices are for 2024, our data is for September 2026.
- City and region. Salaries in Odesa are most likely higher than the regional average, but Derzhstat publishes monthly data for the region.
- Currency. Housing in Odesa is priced in dollars while salaries are paid in hryvnias. A change in the exchange rate shifts the result even when prices and wages stay put.
The conclusion is simple: a square metre in Odesa is several times cheaper than in most EU cities, but because wages are lower, a flat is about as affordable for a Ukrainian as for a resident of Budapest or Prague, and clearly less affordable than in Turin or Manchester.
What it means for a buyer
Instead of averages, work out your own ratio: the price of the flat divided by your household's annual income. Then a few practical steps:
- Compare districts. The price per metre differs noticeably between Odesa districts, so the same floor area can cost very different amounts.
- Check eOselia. The state mortgage programme offers 3% or 7% for the first 10 years, a down payment from 20% (from 10% for young borrowers) and a term of up to 20 years. In Odesa region, except for internally displaced persons, it finances housing under construction or no older than 3 years.
- Consider an instalment plan. For new builds it spreads the payment without a bank, but read the indexation terms carefully.
- Negotiate. The median asking price is a starting point, not the deal price.
How FAKTOR helps
We find a flat that fits your budget, show real prices by district and help with the mortgage and document checks before the deal.
Related: how much a square metre costs in Odesa, mortgages and state programmes, flat prices by district, Odesa property prices in September 2026.
How many square metres in Odesa does an average salary buy?
With the August 2026 average salary in Ukraine (UAH 31,892 gross, Derzhstat) and the resale median of $1,227 per m² (FAKTOR database, 30.09.2026), one monthly salary buys about 0.58 m². With the Odesa region salary for April 2026 it is about 0.44 m².
How many years of work does a 70 m² flat in Odesa cost?
About 10 gross annual salaries at the Ukraine average and about 13 at the Odesa region average. This ignores living costs and taxes, so the real saving period is longer.
Where is housing more affordable: Ukraine or the EU?
A square metre in Odesa is cheaper than in most EU countries, but because of lower wages affordability is similar to Budapest or Prague. According to Deloitte Property Index 2025, a new 70 m² flat costs 4.9 annual salaries in Turin and Odense and 15.4 in Amsterdam.
Can the ratio be improved?
Yes: the eOselia state mortgage, a developer instalment plan, a district with a lower price per metre and negotiating the asking price all reduce the amount you need up front.
We will shortlist options for your budget and guide the deal from the first viewing to signing.
