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These days, finding an affordable place to live in the Shanghai area can be challenging. Home prices in Shanghai are now at a median cost of $154,175, lower than the North Carolina average of $226,477.
The average cost of rent is $819/mo in Shanghai, primarily driven by the current value of real estate in the Shanghai area. While nearly 65.13% of residents own their homes outright in Shanghai, 6.07% rent.
Housing affordability isn’t just about home prices, though. The average household income in Shanghai is $4,818 per month. Households that rent pay about 16.99% of their income on rent here. Shanghai's most expensive areas are in the western regions, while the cheapest areas are in the northwestern parts of the city.
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