With rental costs in Switzerland continuing to rise, a new study from Homegate and the Zürcher Kantonalbank has revealed which parts of the country have seen prices rise the fastest. The bank found that in one canton, the cost of renting a house or apartment has soared by over 10 percent in a year, while one city has seen asking rents rise by nearly a third since 2020.

Rental costs in Switzerland continue to rise

While most current renters look forward to a drop in rent following the cut to the reference interest rate, new arrivals and those looking for new homes are paying much more. According to the data, as of February 2025, asking rents in Switzerland were 2,8 percent higher than a year ago, having increased by 0,2 percent compared to January.

The biggest price hikes were reported in Canton Schwyz, where prospective renters are paying 10,5 percent more on average than they were a year ago. Large increases were also reported in Nidwalden (9,3 percent) and Zug (8,4 percent).

By contrast, only two Swiss cantons have seen average rental costs fall in the last year, namely Appenzell Innerrhoden and Ausserrhoden (-1,6 percent).

Where have rental costs risen fastest and slowest?

Looking at average costs over the last five years, Canton Schwyz has seen rents rise the most. Since February 2020, rents in the region have risen by 28 percent. Graubünden followed in second with hikes of 22,4 percent, with Zurich rounding out the top three with 21,6 percent.

Generally, the strongest price rises were reported in German-speaking Switzerland, especially in central and northern areas. Graubünden and other regions in the mountains such as Uri and Valais have also reported fast price rises.

Though the report did not explain why rental costs in these regions were rising the fastest, the areas with the biggest increases are also the places with the lowest taxes, the highest salaries and where housing supply has fallen the furthest behind demand. For mountainous regions, locals have blamed the rising prices on the popularity of second and holiday homes.

Though no canton has seen rental costs fall since 2020, the slowest increases were reported where housing is cheapest and most plentiful, namely Jura and Neuchâtel. Prices in these regions have risen by 5,6 and 5,8 percent in the last five years, meaning both cantons have seen rental costs rise slower than inflation.

How have rental costs in Switzerland changed?

In all, here are the 13 cantons which have seen average rental costs rise the fastest (in percent since 2020):

1. Schwyz (27,7)
2. Graubünden (22,4)
3. Zurich (21,6)
4. Nidwalden (20,4)
5. Uri (19,7)
6. Schaffhausen (18,6)
7. Zug (18,2)
8. Valais (17,8)
9. Lucerne (17,6)
10. Glarus (16,5)
11. Thurgau (15,5)
12. Basel-Stadt (15,1)
13. Aargau (14,8)

Here are the regions where rental costs have risen the slowest:

1. Jura (5,6)
2. Neuchâtel (5,8)
3. Ticino (7,6)
4. Basel-Land (8,4)
5. Fribourg (8,5)
6. Bern (9,8)
7. Geneva (10,8)
8. Obwalden (11,1)
9. Vaud (11,9)
10. Solothurn (12,6)
11. Appenzell Ausserrhoden (13,2)
12. Appenzell Innerrhoden (13,2)
13. St. Gallen (13,3)

In terms of Swiss cities, Zurich has seen prices rise the fastest. Rental homes in the Swiss metropolis are nearly a third more expensive than they were in 2020. Significant rises were also reported in Lucerne (17,6 percent), Basel (15 percent) and Lugano (13,4 percent), while the slowest increases were reported in Geneva (9,8 percent) and Lausanne (9,9 percent).

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