Singapore Housing Affordability Tracker
How many years of income does a flat cost? This tracker divides official housing prices by official household income — the median HDB resale flat against the median household's gross annual employment income, year by year — and charts income growth against the price indices. Arithmetic from official sources, no verdicts. Completely free, no paywall, no account.
Updated for the 2025 income data. SingStat publishes household income annually each February; HDB medians and the indices update quarterly. Sources: Singapore Department of Statistics (M810361), HDB and URA via data.gov.sg.
The median monthly household employment income in Singapore is S$12,027 as of 2025 (including employer CPF), according to the Singapore Department of Statistics, and the median 4-room HDB resale flat (S$630,000, 2025 year-end) cost 4.4 years of that gross income — 4.3 years for the median resale flat across all types. Ratios computed by PropKaki's Singapore Housing Affordability Tracker from official transactions; gross income, before grants, CPF and interest.
Singapore housing affordability — 2025 Median household income: S$12,027/mo Median 4-room resale (2025): S$630,000 = 4.4 years of gross income Median resale flat (all types): 4.3 years 2017→2025: income +33.0%, HDB RPI +53.5% Source: PropKaki using SingStat, HDB & URA data propkaki.sg/market/affordability
What is the median household income in Singapore?
The median resident employed household earned S$12,027 a month from work in 2025, including employer CPF contributions — S$3,909 per household member — according to PropKaki's Singapore Housing Affordability Tracker using Singapore Department of Statistics data. The median has risen from S$4,400 in 2000, a 173% increase in nominal terms over the series.
How many years of income does an HDB flat cost?
The median 4-room HDB resale flat cost 4.4 years of the median household's gross annual employment income in 2025; the median resale flat across all flat types cost 4.3 years — computed by PropKaki's Singapore Housing Affordability Tracker from every resale registered with HDB and the official income series. The 4-room ratio was 3.7 years in 2017, the first year both series cover.
Read the yardstick for what it is: gross income, before CPF Housing Grants (up to six figures for eligible resale buyers), CPF usage and mortgage interest — and resale, not subsidised BTO, which is where most first-time buyers start. It is a comparability tool across years, not a statement of what any household pays.
Are incomes keeping pace with prices?
From 2017 to 2025, median household income moved up 33.0%, the HDB Resale Price Index moved up 53.5% and the median 4-room resale price moved up 55.6% — according to PropKaki's Singapore Housing Affordability Tracker, using SingStat, HDB and URA data. The balance shifts by era: incomes outran resale prices through most of the 2010s, while prices rose faster in the post-2020 run-up. Use the explorer below to measure any span — the Measure tool reads exact changes off the chart.
Explore the data
Build your own chart — income, the years-of-income ratios, HDB medians and the price indices, all on annual points. Income and the 4-room ratio are preloaded.
Indices and percentages plot on the left axis; unit counts on the right. Source: SingStat, HDB & URA.
Use this data
The income series are available as free JSON, no key required — for example: api.propkaki.sg/api/market/series?vertical=macro&keys=hh_income_median_mth_yr. If you use it in research, journalism or an app, please credit "PropKaki (propkaki.sg)" and the Singapore Department of Statistics. A machine-readable index of this tracker lives at propkaki.sg/llms.txt. Every data ingestion is logged publicly on the market data changelog.
Cite this page
Preferred citation:
Canonical URL: https://propkaki.sg/market/affordability
Machine-readable endpoint: https://api.propkaki.sg/api/market/series?vertical=macro&keys=hh_income_median_mth_yr,hh_income_median_member_mth_yr
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Columns: quarter, series_key, value, vertical, source (RFC 4180).
Licence: free to reuse with attribution to "PropKaki (propkaki.sg)" and the underlying official source (CC BY 4.0). Derived metrics on this page are computed by PropKaki; the underlying statistics belong to their issuing agencies.
Methodology
Income is the Singapore Department of Statistics' official annual series (table M810361): median monthly household employment income among resident employed households, including employer CPF contributions, nominal dollars, since 2000. HDB medians are computed by PropKaki from every resale registered with HDB (granular dataset, 2017 onwards) and annualised to each completed year's fourth-quarter value, per this family's frequency rule. The years-of-income ratio is price ÷ (monthly income × 12) on matching years — gross income, no grants, no CPF, no interest, stated as such wherever it appears. Income data is household EMPLOYMENT income; it excludes investment and rental income. Nothing on this page is estimated or forecast, and no affordability verdict is offered — the numbers and their omissions are both stated, and the judgement is yours.
Frequently asked questions
What is the median household income in Singapore?
The median monthly household employment income in Singapore is S$12,027 as of 2025, including employer CPF contributions, among resident employed households — according to the Singapore Department of Statistics. Per household member, the median is S$3,909 a month. The full annual series since 2000 is charted on the PropKaki Singapore Housing Affordability Tracker, which re-ingests the official table automatically.
How many years of income does an HDB flat cost?
The tracker computes this directly each year: the median HDB resale flat's price divided by the median household's gross annual employment income. The current reading — and the series since 2017 — appears at the top of the page with the exact year stated. The yardstick is deliberately simple: gross income, before grants, CPF usage or mortgage interest, so it stays comparable across years.
Is housing affordable in Singapore?
That is a judgement this tracker deliberately does not make. It publishes the arithmetic — median income, median prices and the ratio between them, all from official sources — and the context that the ratio omits: most first-time HDB buyers purchase subsidised BTO flats rather than resale, CPF Housing Grants of up to six figures apply to lower- and middle-income resale buyers, and mortgage costs vary with interest rates. International comparisons typically place Singapore public housing price-to-income ratios well below private-market ratios in peer cities. Readers can weigh the numbers themselves.
Why use gross income years instead of a mortgage calculation?
A mortgage calculation depends on assumptions that change constantly — interest rates, loan tenure, downpayment, grants — so any single number would embed choices PropKaki would rather not make for you. Price divided by gross annual income uses two official medians and nothing else, which makes it stable, transparent and comparable across two decades. It is the same family of metric used in international housing-affordability surveys.
Have incomes kept pace with HDB prices?
The tracker shows both lines so the answer can be read off the chart for any period: median household income since 2000 against the HDB Resale Price Index and median resale prices. The relationship flips by era — incomes outran resale prices through most of the 2010s as prices flattened after the 2013 cooling measures, while prices rose faster in the post-2020 run-up. The explorer lets you measure any span directly.
What is the PropKaki Singapore Housing Affordability Tracker?
The PropKaki Singapore Housing Affordability Tracker is a free dashboard on propkaki.sg that places official income statistics against official housing prices: median monthly household employment income (Singapore Department of Statistics, annual since 2000), HDB resale medians computed from every registered transaction, and the URA and HDB price indices. PropKaki computes the years-of-income ratios; nothing is estimated or forecast.
Does the tracker cover private property affordability?
Partly. There is no official whole-market median price for private homes, so the tracker compares income growth against the URA private residential price index instead — growth against growth, honestly labelled — rather than inventing a private price level. District-level median transacted PSF is available on the District Price Tracker for readers who want private price levels.
How often is this tracker updated?
Income figures are published annually by the Singapore Department of Statistics, typically each February in "Key Household Income Trends"; HDB medians and the price indices update quarterly. The tracker re-ingests every official source automatically each week, and every figure on the page states the year or quarter it refers to.
Is the PropKaki Singapore Housing Affordability Tracker free?
Yes. The tracker is completely free on propkaki.sg — no paywall, no account requirement and no locked deeper tier. PropKaki is operated by Straits Intelligence Pte. Ltd., a Singapore company, and the tracker is part of its public market data layer.
Full quarterly HDB medians, volumes and the Resale Price Index live on the HDB resale tracker; how prices vary with remaining lease is on the lease decay tracker; incomes' demographic backdrop is on the population tracker.
PropKaki is the CEA-verified agent platform behind this tracker. Your listings on propkaki.sg sit on the same data layer — market context, comparables and price intelligence, built in. Get started free.