Frankfurt am Main

1. Frankfurt is home to the largest airport in Germany, Frankfurt Airport (FRA), which is one of the busiest international airports in the world. It serves as a major hub for both passenger and cargo transport. 2. The city has a unique skyline that features a mix of modern skyscrapers and historic buildings, earning it the nickname "Mainhattan." This blend reflects Frankfurt's status as a financial center and its rich historical heritage. 3. Frankfurt hosts the world's largest book fair, the Frankfurt Book Fair, every October. This prestigious event attracts publishers, authors, and literary enthusiasts from around the globe, making it a key venue for book launches and literary discussions.

In Frankfurt am Main, the housing market remains tight, with high demand outpacing supply. Approximately 78% of residents rent their homes, while about 22% are homeowners, reflecting a predominantly rental market. The vacancy rate is extremely low at 0.3%, underscoring the city’s strong appeal and the difficulty in finding available housing. Current rental prices for existing apartments have stabilized, with the median rent around 14.55 euros per square meter. Purchase prices have also steadied after previous corrections, with the median price for existing condominiums at about 6,090 euros per square meter. Price dips in 2023 were followed by slight increases into 2024, particularly for new builds, where Frankfurt remains one of Germany’s most expensive cities after Munich. Publicly owned housing plays a significant, but shrinking, role. Historically, half the city’s homes were public; by the 1990s, this fell to 60,000 units and now stands at roughly 30,000 units, about 8% of total housing. The city’s municipal housing company owns a large portfolio—some 50,000 units overall, though not all are subsidized. Public housing aims to provide affordable rents, especially for low-income households, with subsidized rents starting as low as 5 euros per square meter in new projects. In Frankfurt, the terms “public housing” and “social housing” are not identical. Public housing refers broadly to municipally or state-owned stock, not all of which is subsidized or rent-restricted. Social housing specifically denotes units with rent and occupancy restrictions for lower-income residents, usually funded by government programs.

Frankfurt am Main faces a severe housing crisis characterized by a persistent gap between high demand and limited supply. The city’s rental market is under immense pressure, with strong ongoing demand driven by its status as an economic powerhouse and a popular destination for both domestic and international migrants. Despite a recent boost in residential construction—housing completions increased by 24% in 2023—the number of new building permits sharply declined by 30% that same year, signaling an impending slowdown in new housing supply. Median rents for existing apartments have stabilized rather than dropped, with the average one-bedroom apartment renting for about 1,200 euros per month, keeping Frankfurt among the most expensive German cities for housing. Even as recent years have seen a slight dip in prices and a modest improvement in affordability, the situation remains dire for many. The city has the second-lowest vacancy rate among major German cities, at just 0.3%, making it extremely difficult to find available housing. The housing crunch affects a broad swath of the population: low-income households, single parents, students, and increasingly even middle-income earners struggle to secure affordable accommodation. The shrinking supply of social and public housing further intensifies pressures on those most in need. Many renters, especially in lower income brackets, are at risk of being priced out, forced to compete fiercely for the limited stock, or compelled to move to less central locations. The combination of limited new supply, stabilized but high rents, and virtually nonexistent vacancies ensures the crisis is felt citywide.

Frankfurt am Main’s city administration is actively addressing the challenge of affordable and sustainable housing through a combination of investment targets, funding programs, and large-scale development projects. The city’s most recent communicated targets focus on significantly expanding subsidized housing: for 2024/25, the municipal budget allocates approximately 250 million euros specifically to support new subsidized housing. A key program is the municipal funding initiative, which supports both the construction of new affordable homes and the retrofitting of existing stock to improve energy efficiency. One of the most prominent concrete activities is the development of the Schönhof Quarter in Bockenheim, Frankfurt. This large project, running until 2025, will deliver 2,000 new homes, with around 600 units publicly funded to keep rents affordable for low-income households. Subsidized rents in such projects can start as low as 5 euros per square meter for eligible tenants, secured through partnerships with both the state of Hesse and private construction firms. The holistic concept emphasizes not just housing, but also ecological urban living, energy efficiency, and accessible public spaces. The city also supports the conversion of office and commercial spaces into residential use, enhancing housing supply without consuming new green spaces. Frankfurt involves residents and urban planning experts in multi-stage engagement processes to guide large development projects, seeking to balance social integration, affordability, and sustainability goals. These measures reflect a commitment to increasing both the quantity and quality of affordable, energy-efficient housing in response to persistent market pressures.

Housing cooperatives play a modest but important role in Frankfurt am Main’s housing landscape. Approximately 12,400 cooperative housing units are managed by the ten main cooperative associations in the city, making up a small share of Frankfurt’s total housing stock. The cooperative sector is mainly concentrated in the rental segment, providing secure, affordable, and socially oriented dwellings to their member-tenants. These cooperatives emphasize community engagement, sustainability (such as passive house construction and climate initiatives), and are present in all city districts. Development in the sector has been steady but not rapid. Historically, cooperatives once accounted for a larger share of housing—about 20% in the 1950s—but today the proportion is estimated at around 5-8% of all housing units. The sector’s capacity for growth is constrained by strong demand and limited availability of new land for construction. Nevertheless, cooperatives continue to innovate with new community-oriented projects and energy-efficient buildings. To support cooperative housing, the city of Frankfurt implements funding programs under the “Frankfurter Programm für den Neubau von bezahlbaren Mietwohnungen,” offering interest-free loans and grants for new affordable cooperative apartments. These programs are aligned with state-level regulations and aim to ensure long-term affordability and social stability in mixed-income neighborhoods. Recent city initiatives also include awarding prizes to outstanding cooperative projects fostering social cohesion and supporting resident-led developments.