Instead of the rapid rent increases seen in previous years, the rental market opened 2026 at a restrained pace. The latest data from the KSH–ingatlan.com Rent Index show that in January, rents rose by 1.3% month-on-month both nationwide and in Budapest. Such a modest start to the year was last seen in early 2021, at the height of the coronavirus pandemic.On an annual basis, rents increased by 5% nationwide and 5.1% in Budapest, down from 5.4% and 5.6% respectively in December. Moreover, the pace of rent growth is now well below the over-9% annual increases recorded in January last year.
“Although wage growth and salary increases at the beginning of the year usually push rents upward, landlords this year are unable to raise rents to the same extent as in previous years. This has created a unique and intense competitive environment in the market,”
said Balogh László, chief economic expert at ingatlan.com.
Weakest Start in Years for the Rental Market
The current rental supply consists of 16,800 available rental properties, representing a 6% year-on-year decline. Due to falling rents in recent months, demand absorbed much of the available supply. However, 2026 has started extremely weakly on the demand side.Between early January and mid-February—the first seven weeks of the year—demand was 18% lower than a year earlier.
“In the first seven weeks of 2026, we recorded 135,000 phone inquiries regarding rental apartments and houses. These figures are significantly lower than in previous years and point to a marked slowdown. However, this is not surprising overall, as the decline is primarily due to the Otthon Start Program, which has drawn many potential and actual tenants out of the rental market toward homeownership,”
Balogh László added.
Current Asking Rents
According to ingatlan.com’s latest market overview, the median monthly rent in Budapest was HUF 260,000 in mid-February. Among districts with the largest supply:
- District VI: HUF 290,000
- District XIII: HUF 270,000
- District XI: HUF 279,000
In Districts VII, VIII, and IX, prospective tenants can expect HUF 250,000.
District V and District II continue to stand out, with medians of HUF 362,500 and HUF 360,000 respectively.
At the other end of the scale are District X, District XIX, and District XXI, each with a median rent of HUF 200,000.Among major regional cities, Debrecen is the most expensive, with a median rent of HUF 220,000. It is followed by Győr and Székesfehérvár, both at HUF 200,000.In several county capitals—Nyíregyháza, Pécs, Szeged, Szombathely, Tatabánya, and Veszprém—the median rent stands at HUF 180,000.
Still Waiting for the “Moment of Truth”
Regarding future trends, Balogh László said that although the significant slowdown in rent growth suggests that nominal wage increases will keep rents on an upward path in the medium term, the pace of price growth is expected to become increasingly modest.He added:
“The ‘moment of truth’ for the rental market is expected in July–August, when the peak rental season begins. This is when it will become clear which direction rents and demand will move. Until then, the market is likely to be characterized by weaker year-on-year demand and slowing rent increases.”
