Ramat Gan Housing Prices Skyrocket, Requiring Over NIS 40,000 Monthly Income

Purchasing a four-room apartment in Ramat Gan now demands a monthly net income of NIS 37,000 to NIS 44,000, with prices for such homes ranging from NIS 3.3 to 3.9 million. In the city center and desirable neighborhoods like Haruzim, prices can approach NIS 4 million. A three-room apartment has a median price of approximately NIS 2.7 million.

These figures translate to monthly mortgage payments of NIS 13,100 to NIS 15,500, assuming a 30% down payment and a 25-year loan at average interest rates. This excludes additional costs such as property taxes, building fees, and insurance. To keep mortgage payments at 40% of net income, a household needs to earn NIS 33,000-39,000 monthly; at 35%, this rises to NIS 37,000-44,000, and for those aiming for a 30% ratio, the required income is NIS 44,000-52,000.

An income of NIS 20,000 net per month is insufficient for a good four-room apartment in Ramat Gan. This income level, with a maximum mortgage payment of NIS 8,000 (40% of income), can finance a loan of about NIS 1.4 million, allowing for a property around NIS 2 million with a 30% down payment. Transactions in this price range during the summer involved smaller, older three-room apartments (70-75 sqm) in buildings without elevators, costing NIS 1.85-2 million.

Significant down payments are also required, ranging from approximately NIS 990,000 for a NIS 3.3 million apartment to NIS 1.17 million for a NIS 3.9 million one. First-time buyers can secure up to 75% financing, reducing the required down payment to NIS 825,000-975,000, but this increases the monthly mortgage payment. Additional costs for legal services, real estate agents, and potentially purchase tax must also be factored in.

While the average price of an apartment in Ramat Gan saw a slight decrease of 0.8% to about NIS 3.07 million in the first half of 2026, compared to a national average increase of 3.9%, prices remain high. Urban renewal projects, such as those planned in the Aba Hillel, Rechesi, and Arania intersection area, and the Zhabotinsky area, are expected to maintain property values by replacing older buildings with modern, high-rise apartments.

Ramat Gan's housing market is significantly more expensive than nearby Petah Tikva (NIS 2.6-3 million) and closer to Tel Aviv's prices (NIS 4.5-5 million), reflecting its desirability and proximity to the major city.