Buy-to-Let Properties in Offenbach: Figures, Locations, and an Honest Calculation
Kevin Celentano · 2026-10-13
Directly next to Frankfurt, significantly cheaper, and with a prognosis that expects further growth. In return, high unemployment and rent control. We have compiled the official figures for Offenbach am Main and calculate two apartments honestly.
Offenbach is often mentioned in the shadow of Frankfurt. But for investors, the city has its own profile. While the banking metropolis is becoming unaffordable for many, Offenbach still offers entry-level prices that, in combination with extremely low vacancy, allow for solid calculations.
Here you will find the official figures, the development of population and demand, the rules for landlords, and an honest calculation for two sample apartments.
01Offenbach in figures
All values we use for classification, with source and status.
| Key figure | Value | Source, Status |
|---|---|---|
| Inhabitants | 161,200 | Prognosis for 2026 (based on Zensus 2022) |
| Inhabitants 2022 (Census) | 154,675 | 2022 Census, as of May 15, 2022 |
| Development prognosis to 2040 | +7.4 % | Hessen Agentur, 2024 (159,200 to 171,000) |
| Vacancy rate | 2.2 % | 2022 Census (short-term available) |
| Share of rented apartments | 75.3 % | 2022 Census |
| Unemployment rate | 9.2 % | Offenbach Employment Agency, Sept 2026 |
| Purchase price used apartment (2023) | €3,140/sqm | Expert Committee, Ø all sales 2023 |
| Purchase price new-build (first sale, 2023) | €5,414/sqm | Expert Committee, Ø all sales 2023 |
| Model value used (built 1970, 70 sqm) | €2,854/sqm | Expert Committee, as of Jan 1, 2024 |
| Gross income multiplier | 23.0 | Expert Committee, 2024 model for used apartments |
| Rent index (median) | €8.85/sqm | 2026 Rent Index (average of all values) |
| Asking rent (new lease) | €13.67/sqm | City of Offenbach, Monitoring 2024 |
| Property transfer tax (Hesse) | 6.0 % | since Aug 1, 2014 |
02Population and demand
Offenbach is growing. While many other cities are struggling with stagnation, the Hessen Agentur expects a significant increase of 7.4% by 2040. The reason is the proximity to Frankfurt and the continued high immigration from abroad.
The demand for rental housing is high. Offenbach is a city of renters: 75.3% of all apartments are rented, only 21.6% are occupied by the owners. The vacancy rate is very low at 2.2%.
The household structure also supports demand: 43.5% of households are single-person households. Small to medium-sized apartments are therefore in high demand.
03Economy and labor market
The economic situation in Offenbach is ambivalent. On the one hand, the city benefits from the Frankfurt metropolitan region. Many people work in Frankfurt but live in Offenbach because of the lower rents and good S-Bahn connections.
On the other hand, the city itself has a high unemployment rate of 9.2% (as of September 2026). This is significantly higher than the Hessian average. For landlords, this means that a careful tenant selection is essential to minimize the risk of rent loss.
04Rents, purchase prices, and rental yield
Purchase prices in Offenbach have fallen slightly since the interest rate turnaround in 2022 but remain at a high level. According to the Expert Committee, used condominiums cost an average of €3,140/sqm in 2023.
Rents are also rising, but they are slowed down by rent control. The 2026 rent index shows a median rent of €8.85/sqm. In the case of new leases, however, asking rents of over €13/sqm are often called for.
With a gross yield of around 4%, the calculation with financing is tight. Use the rental yield calculator to check your specific offer.
05Rules for landlords in Offenbach
In Offenbach, strict rules for tenant protection apply:
- Rent Control (Mietpreisbremse): For new leases, the rent may be at most 10% above the local comparative rent (rent index).
- Rent Increase Cap (Kappungsgrenze): For existing contracts, the rent can be increased by a maximum of 15% within three years (up to the local comparative rent).
- Extended Termination Protection: After the conversion of a rental apartment into a condominium, a termination protection period of 5 years applies in the event of a sale to an owner-occupier.
06Sample calculation: Two apartments in Offenbach
We calculate an existing apartment (1960s) and a new-build apartment. Both are 65 sqm and are financed with 20% equity.
| Item | Existing Apartment (1965) | New-Build Apartment |
|---|---|---|
| Purchase price | €173,550 (€2,670/sqm) | €351,910 (€5,414/sqm) |
| Closing costs (approx. 7.9%) | €13,650 | €27,700 |
| Total investment | €187,200 | €379,610 |
| Equity (20%) | €37,440 | €75,920 |
| Loan amount | €149,760 | €303,690 |
| Net cold rent (forecast) | €575 (€8.85/sqm) | €975 (€15.00/sqm) |
| Annual rent (net cold) | €6,900 | €11,700 |
| Interest (3.5%) | −€5,242 | −€10,629 |
| Repayment (2.0%) | −€2,995 | −€6,074 |
| Non-recoverable costs | −€1,100 | −€800 |
| Cash flow before tax | −€2,437 (approx. −€203/month) | −€5,803 (approx. −€484/month) |
FAQHäufige Fragen
Is an apartment in Offenbach worth it as an investment?
It depends on the individual apartment. Offenbach is growing, has low vacancy, and cheaper prices than Frankfurt. This is offset by high unemployment, low existing rents, and rent control. For a 1960s apartment at €2,670/sqm and rent at the index level, the gross rental yield is around 4%. With financing, you often pay extra monthly, even after taxes.
How high is the rental yield in Offenbach?
Gross between approx. 4.0 and 4.8% for a used apartment built 1950–1974, depending on whether you calculate with the rent index (€8.85/sqm) or the average rent of sold rented apartments (€10.65/sqm). The expert committee cites a gross income multiplier of 23, which corresponds to around 4.3%.
How much does a condominium cost in Offenbach?
Used condominiums in 2023 cost an average of €3,140/sqm according to the committee, apartments from 2000 onwards approx. €4,340/sqm. New-build apartments were at €5,414/sqm for the first sale, excluding parking. For 2024, the committee cites factors of €2,921/sqm for a used sample apartment and €5,215/sqm for a new-build.
Is there rent control in Offenbach?
Yes. Offenbach is in the Hessian Tenant Protection Ordinance, valid until Nov 25, 2026. For new leases, the rent may be at most 10% above the local comparative rent; for existing contracts, a cap of 15% in three years applies. The ordinance is currently being revised. In the state report, Offenbach meets all criteria.
Which districts in Offenbach are interesting for investors?
Most apartments in 2023 were sold in the Mathildenviertel, Bieber, Nordend and the center. Inner-city locations near the S-Bahn are more suitable for individuals and commuters, while Bieber or Bürgel suit families. Check the residential area of the address, as it determines the range in the rent index.
How high are the closing costs in Offenbach?
In Hessen, there is a 6.0% property transfer tax. Notary and land registry cost approx. 1.5 to 1.9% of the purchase price with financing. For a €173,550 purchase price and full financing, it is around €13,650 without a broker, just under 7.9%.
Is Offenbach a cheap alternative to Frankfurt?
In terms of purchase price, yes, used apartments cost significantly less. However, rents are also lower, and rent control applies to both cities. Whether Offenbach is the better choice for you depends on the ratio of price, permitted rent, and risk of the individual apartment, not the distance to the Frankfurt skyline.