Renting in Krakow – A Closer Look at the Average Rental Costs

So, you’re wondering how much it costs to rent an apartment in Krakow? Now, let me explain, Krakow is a beautiful city but renting an apartment here can be a bit pricey. Every part of the city felt the surge of housing costs in the latter half of 2022, not just the picturesque Old Town. But don’t you worry, I’ve got all the details you need to make an informed decision about renting in Kraków.

• You may also like to read: Flats for Sale in Krakow – Finding Good Opportunity in The Market

Average One-Room Studio Rents in Kraków

If you’re looking for a cozy space just for yourself, a one-room studio near the city center might be right up your alley. These apartments are hot commodities, making them the most expensive per square meter. However, I think that modern apartments in newer buildings are gaining traction too, as long as they’re conveniently located. They should either be close to the city center or provide a swift commute to Krakow’s charming old quarters.

Interestingly, apartments slightly away from the city’s bustling core are also popular, particularly if they’re near famous Krakow universities. This makes sense, doesn’t it? Being there, you need to know that proximity to university amenities is often crucial for students and staff.

According to the otodom.pl portal, average price for 1 room studio is 2,700 PLN per month, considering the fact that the apartment is located near Main Square. Similar studios that are situated further away cost approx. 2,000 PLN / month. On the above picture, You can see the price 2,250 PLN + rent, which is 450 PLN / month.

Two-Room Apartments in Kraków – Average Cost

Now, if you need more space, a two-room apartment might be just the ticket. You’ll find these in various locations, and they don’t necessarily have to be in the Old Town to be sought after.

I am convinced it is worth to say that apartments with two separate rooms and a standalone kitchen are just as popular as those with an open-concept living room and kitchenette. It seems that these two layouts each appeal to different types of tenants. For instance, the former attracts students or working individuals without families, while the latter is preferred by couples or small families.

Average price for 2 room apartment in Kraków Old Town is 3,700 PLN per month plus rent, which equals 4,200 PLN. Similar apartments that are situated further away cost approx. 2,900 PLN / month. On the above picture, You can see the total rent of 4,200 PLN / month for 54 square meter apartment.

Looking for More Space? Consider Three-Room Apartments

For those needing even more room, a three-room or larger apartment might be the way to go. Now, I know that this option typically appeals to a larger group of students or families. In the first case, proximity to universities and the city center is paramount. For families, however, I can tell you that other factors come into play.

It’s all about location and amenities for families. They usually prefer a neighborhood that’s great for leisurely strolls, is close to kindergartens and primary schools, and offers comfort. For instance, a gorgeous apartment on the top floor of an old building might sound attractive, but without an elevator, it’s likely to lose out to a less fancy option in a quietr area. Especially, if the latter has perks like dedicated parking in an underground garage.

Average price for 23 room apartment in Kraków Old Town is 4,500 PLN per month plus rent which usually is somewhere between 700 and 1000 PLN. Similar apartments that are situated further away cost approx. 3,500 PLN / month plus rent. On the above picture, You can see the total rent of 5,400 PLN / month for 94 square meter apartment and similar price for newer, 65 square meter 3-room apartment.

Market’s Average Rent in Kraków

Krakow wasn’t always a city where you had to shell out big bucks for rent, be it for a one-, two-, or three-room apartment. Compared to other Polish cities, the rent here used to be fairly affordable. However, things took a turn in the second half of 2022, when rental costs took a significant leap.

As of June 2023, the average rent per square meter of an apartment was a little over 60 PLN, and the total rent averaged around 3,350 PLN. That’s a whopping 24% increase compared to the previous year.

Rising Rental Costs in Kraków

Now, I am convinced that Krakow has become one of the most expensive cities to rent an apartment in. It’s an interesting change, given that for years the rent remained fairly stable, with the average studio apartment going for about 1,200 PLN.

During the pandemic, when many universities switched to remote learning, the city experienced a drop in tenants, which in turn led to a slight dip in rental prices. This meant that even a well-equipped, attractive apartment in a historical tenement building could be rented for less per square meter than a similar place in Warsaw or Gdańsk.

However, I believe it is worth to say that rental costs started creeping up with the rise in interest rates in 2023, with the most dramatic increase happening between August and September 2022. If the experts are right, this trend isn’t slowing down anytime soon, so brace yourself for high rents in 2024 too.

The situation gets even trickier when you factor in the noticeable shortage of rental apartments in Krakow. According to both rental agency employees and tenants, finding an available apartment is a growing challenge.

You see, apart from the significant increase in interest rates, real estate agencies also point to a correlation between high prices and a lack of available properties on the market. This is why, nowadays, you might have to pay more to rent an apartment in Krakow than in Warsaw. Finding a high-standard apartment with a reasonable price tag in Krakow is almost like finding a four-leaf clover.

Watch For Agent’s Commissions

Now, I know that hiring a real estate agency to help you find an apartment in Krakow involves paying a commission. The amount you’ll have to pay depends on a few things, including the attrctiveness of the apartment and the amount of work the agent puts into sealing the deal.

What does this mean for you? If you’re looking for a studio apartment in a prime location, the agent will usually charge both you and the landlord a commission equivalent to a month’s rent. On the other hand, if you’re eyeing a larger apartment, the commission could range from half to a full month’s rent. So, consider these costs when you’re budgeting for your next move.

References:

• https://lifeinkrakow.pl/w-opinii/5193,jak-znalezc-mieszkanie-na-wynajem-w-krakowie-telefonowac-a-nie-pisac-sms-y
• https://sadurscy.pl/blog/2018/12/na-mieszkaniu-na-wynajem-w-krakowie-nie-zarobisz/