Ramat Gan Housing Prices Outpace Average, Requiring High Incomes

Purchasing a four-room apartment in Ramat Gan now costs between 3.3 and 3.9 million shekels, with prices nearing 4 million in the city center and the Haruzim neighborhood. A three-room apartment averages around 2.7 million shekels. A desirable four-room apartment, equipped with an elevator, parking, and a protected room, falls within the 3.3 to 3.9 million shekel range.

Monthly mortgage payments for such a property, assuming a 30% down payment and a 25-year loan at an average interest rate of 3.2% for indexed loans and 4.7% for shekel loans, range from 13,100 to 15,500 shekels. This figure excludes additional costs like municipal taxes, building fees, and insurance.

To manage these mortgage payments, with banks typically limiting them to 40% of net income, a household would need a net monthly income of 33,000 to 39,000 shekels. If the mortgage constitutes 35% of income, the required net income rises to 37,000-44,000 shekels, and for those aiming for a 30% ratio, it's 44,000-52,000 shekels. A net income of 20,000 shekels is insufficient for a good four-room apartment in Ramat Gan, only financing a mortgage of approximately 1.4 million shekels, which corresponds to an apartment worth around 2 million shekels with a 30% down payment.

During the summer, transactions for smaller, older three-room apartments (70-75 sqm) in buildings without elevators were closed for 1.85 to 2 million shekels. The required down payment for a 3.3 million shekel apartment is nearly 990,000 shekels, and for a 3.9 million shekel apartment, it's about 1.17 million shekels. As a first-time buyer, with up to 75% financing allowed by banks, a down payment of 825,000 to 975,000 shekels might suffice, but this increases the monthly payment by an additional 940 to 1,100 shekels.

While the average price of an apartment in Ramat Gan saw a slight decrease of 0.8% in the first half of 2026, reaching approximately 3.07 million shekels, the national average increased by 3.9%. This trend suggests potential for negotiation, particularly for second-hand properties. Urban renewal projects, such as those planned in the Aba Hillel, Rechesi, and Arania intersection area, and the Matmid complex on Jabotinsky, are expected to drive future price increases by replacing older buildings with modern high-rises.

Compared to neighboring cities, Ramat Gan's housing prices are closer to Tel Aviv's (4.5-5 million shekels for a good apartment) than to Petah Tikva's (2.6-3 million shekels). The income required to afford housing in Ramat Gan also reflects this proximity to Tel Aviv.