Mietrendite-Atlas 2026
Gross rental yields across Germany's 25 largest cities, computed from source-verified purchase prices and cold rents. The result upends the usual hierarchy: Wuppertal (~4.9%) pays a 1.9× higher yield than Hamburg (~2.6%), and Germany's most expensive markets sit at the bottom of the table.
The Ranking, all 25 cities
| # | City | Gross yield | Price €/m² | Cold rent €/m² |
|---|---|---|---|---|
| 1 | Wuppertal | ~4.9% | €2,250 | 9.18 € |
| 2 | Leipzig | ~4.8% | €2,636 | 10.51 € |
| 3 | Mönchengladbach | ~4.7% | €2,318 | 9.14 € |
| 4 | Stuttgart | ~4.5% | €4,310 | 16.76 € |
| 5 | Essen | ~4.3% | €2,776 | 9.91 € |
| 6 | Bremen | ~4.3% | €2,934 | 10.49 € |
| 7 | Duisburg | ~4.3% | €2,076 | 7.5 € |
| 8 | Berlin | ~4.1% | €5,320 | 18 € |
| 9 | Cologne | ~4.1% | €4,277 | 14.7 € |
| 10 | Frankfurt am Main | ~4.1% | €5,680 | 19.57 € |
| 11 | Dortmund | ~4.1-4.7% | €2,605 | 10.1 € |
| 12 | Wiesbaden | ~4.1% | €4,296 | 14.74 € |
| 13 | Dresden | ~4% | €2,971 | 10.41 € |
| 14 | Hanover | ~4% | €3,564 | 11.85 € |
| 15 | Bochum | ~4% | €2,511 | 8.28 € |
| 16 | Nuremberg | ~3.9% | €3,680 | 11.97 € |
| 17 | Augsburg | ~3.9% | €4,435 | 15.12 € |
| 18 | Bonn | ~3.8% | €4,458 | 14.25 € |
| 19 | Mannheim | ~3.8% | €3,930 | 12.39 € |
| 20 | Düsseldorf | ~3.5-4.2% | €4,435 | 15.41 € |
| 21 | Bielefeld | ~3.5% | €2,776 | 8.21 € |
| 22 | Karlsruhe | ~3.4% | €4,206 | 11.94 € |
| 23 | Münster | ~3.3% | €4,000 | 13.4 € |
| 24 | Munich | ~3.2% | €8,200 | 21.44 € |
| 25 | Hamburg | ~2.6% | €6,273 | 13.58 € |
Gross yield = annual average cold rent ÷ average purchase price, city-wide averages. Each city links to its full report with neighbourhood data, regulation and sources.
Key findings
The yield map is inverted. Germany's prestige markets pay the least: Hamburg (~2.6%) and Munich (~3.2%) close the table, while Wuppertal, Leipzig and Mönchengladbach lead at 4.7–4.9%. Investors buying purely for income are structurally better served in North Rhine-Westphalia and Saxony than in the classic A-cities.
NRW dominates the income play. 5 of the top ten cities lie in North Rhine-Westphalia, the combination of moderate purchase prices (from ~€2,076/m² in Duisburg) and stable rents produces the country's strongest cash-flow markets.
Berlin is mid-table. At ~4.1% the capital neither rewards income investors nor prices like Munich. Its case rests on rent reversion potential under regulation, detailed in our Berlin report.
Yield is the start of the analysis, not the end. Gross yields ignore purchase costs (varying by state), non-recoverable costs and vacancy. Net figures and cash flow for any price point can be modelled with our Rental Yield Calculator.
Methodology & sources
Basis: city-wide average asking/transaction prices (€/m²) and average cold rents (Kaltmiete) (€/m²/month) for the 25 largest German cities by population, each verified against primary sources (Gutachterausschüsse, official municipal market reports and federal statistics) in July 2026. Gross yield = (cold rent × 12) ÷ purchase price. Per-city sources are cited on each linked city report. The underlying dataset powers all LDP Insights pages and is updated with each data release (last: 2026-07-30).
Citation & press use
Figures and the ranking may be quoted freely with attribution to "Mietrendite-Atlas 2026, LDP Group" and a link to this page. Press enquiries and interview requests: info@ldp.group.
The full dataset behind this study (25 cities: prices, rents, yields, vacancy, transfer tax) is free to download: ldp-german-city-data-2026.csv. Attribution to LDP Group with a link required.
Frequently asked questions
Which German city has the highest rental yield in 2026?
Wuppertal leads Germany's 25 largest cities with a gross rental yield of ~4.9% (average purchase price €2,250/m², average cold rent 9.18 €/m²). Yields above 4% cluster in North Rhine-Westphalia and Eastern German cities.
Which major German city has the lowest rental yield?
Hamburg, at ~2.6% gross: purchase prices of €6,273/m² are not matched by proportional rents. Munich (~3.2%) is second-lowest despite Germany's highest prices at €8,200/m².
What is a gross rental yield and how is it calculated?
Gross rental yield = annual cold rent (Kaltmiete) divided by the purchase price. It excludes purchase costs, non-recoverable operating costs and vacancy. See our Rental Yield Calculator for net figures. All figures here use city-wide averages from primary sources (July 2026).
Does a higher yield mean a better investment?
Not by itself. High-yield cities typically trade growth for income: strong cash flow, slower appreciation. Low-yield cities like Munich price in stability and long-term value growth. The right choice depends on financing, tax situation and investment horizon.