Buy-to-let properties in Wolfsburg: Figures, locations and an honest calculation

Michael Pauker · 2026-10-13

You are considering buying a let apartment, and Wolfsburg comes to mind. The city has more than twice as many jobs as employed residents, purchase prices are only slightly above the national average, and an apartment here often costs less than in Brunswick or Hanover.

However, Wolfsburg is no ordinary location. Almost everything in the city depends on one company, and this company is currently restructuring. At the same time, there is more vacant housing in Wolfsburg than the state average.

We have compiled the official figures and, at the end, will calculate the figures for an existing and a newly built apartment.

01Wolfsburg in figures

All values we use for classification, with source and date.

02Population and demand

At the end of 2025, Wolfsburg officially had 129,813 inhabitants, around 250 more than a year earlier. The city is therefore hardly growing. In its forecast from early 2026, the State Statistical Office expects this to remain the case: by 2040, the number of inhabitants in the main variant will be practically at the 2024 level, and by 2045 it will be 0.8% lower. Inbound migration is just balancing out the surplus of deaths.

How do Wolfsburgers live? In the 2022 Census, 45.3% of households were single-person households, fewer than in most university cities. Only 55.1% of apartments were let, while almost 39% were owner-occupied. Apartments are 91 m² on average. Wolfsburg is therefore more a city of families and own homes than a classic tenant city.

The figures contradict the image of an overheated city. Wolfsburg has many jobs, but many employees live in the surrounding area and commute. Whether they move into the city depends on supply, price, and the situation on the labour market.

03Economy and labour market

As of 30 June 2025, 114,571 employees subject to social insurance worked in Wolfsburg. However, only 53,015 employees lived in the city. 73,768 people commuted in, and only 12,259 commuted out. For every employee living in Wolfsburg, there are more than two jobs. Wolfsburg is thus a pronounced commuter city.

The reason is Volkswagen. The corporate headquarters and main plant shape the city, supplemented by suppliers, service providers, and the Autostadt. This is precisely where the greatest risk for landlords lies. On 3 September 2026, the Volkswagen Supervisory Board approved a future plan until 2030, according to which around 50,000 jobs are to be cut across the group. According to reports, Volkswagen has not yet announced how these jobs will be distributed across the locations.

The city's unemployment rate in August 2026 was 7.4%, with 5,035 unemployed. This is 421 more than a year earlier. In the entire district of the Helmstedt Employment Agency, the rate was 6.5%. The direction is therefore different from the years when Wolfsburg was primarily known for full employment.

For your calculation, this means two things. As long as the group keeps personnel at the location, demand for apartments remains broad. A job cut would first affect commuters and temporary staff and could increase vacancy rates. This uncertainty belongs in every purchase decision in Wolfsburg.

04Rents, purchase prices and rental yield

There are two reliable reference points for rents. The 2022 Census determined an average net cold rent of €7.21/m² for all let apartments in Wolfsburg. This is the average across all current contracts, including very old ones. According to the portal immoportal.com, new listings average €8.68/m², with apartments built between 1970 and 1999 at €8.07/m² and apartments after 2015 at €11.49/m² (as of 1 Oct 2026).

Wolfsburg also has a qualified rent index (Mietspiegel), which has been in an updated version since 1 Jan 2026. it is the benchmark for rent increases and for the rent control. Before buying, check where your apartment's rent stands compared to the rent index.

Purchase prices come from the appraisal committees in Lower Saxony. In the 2025 reporting year, an existing condominium in Wolfsburg cost a median of €2,270/m², evaluated from 146 sales. The state average was €2,130/m², and Brunswick was at €2,410/m². Apartments built between 1950 and 1977 cost €1,810/m², while apartments built from 2023 cost €3,360/m².

The purchase price factor, i.e. how many years' net cold rent the purchase price costs, is derived from the purchase price and rent. The reciprocal is the gross rental yield. We have calculated both for an apartment built between 1950 and 1977 (€1,810/m²) with three rent assumptions.

The gross yield is thus significantly higher than in large cities like Hanover or Frankfurt. There is a reason for this. The market prices in the risk inherent in the dependence on one employer and the higher vacancy rate. Measured against the median of all existing apartments (€2,270/m²), the gross yield with the Census rent drops to around 3.8%. You can check your own figure with the rental yield calculator.

05Districts at a glance

Wolfsburg is a young city, founded in 1938 for the Volkswagen plant. Many districts were created as planned settlements, others were independent towns that only joined with the regional reform in 1972. The appraisal committees do not publish prices per district. The table therefore shows asking rents according to immoportal.com and our assessment.

06Example calculation: Condominium in Wolfsburg

What remains of the rent after costs, interest, and taxes? We calculate two examples. Both assume 100% financing of the purchase price, while incidental costs (7.0%) are paid from equity.

• Existing apartment: 65 m², built 1965, purchase price €117,650 (€1,810/m²), rent €8.00/m².
• New build: 65 m², built 2024, purchase price €218,400 (€3,360/m²), rent €12.50/m².

Calculation: Net rent minus interest, repayment, and non-recoverable costs (approx. 20-25% of rent). Tax benefit includes depreciation (3% for existing, 5% degressive for new build) and interest.

In both cases, you pay extra every month. In Wolfsburg, a property only pays for itself from day one if you bring in more equity or buy significantly below the median. The advantage: for around €110 a month, you build up assets that are worth over €117,000.

07Summary: Is Wolfsburg worth it?

Wolfsburg is a location for investors who consciously look for yields slightly above the average and can live with the risk of a "one-company town".

1. High dependence: The city stands and falls with Volkswagen. A crisis there directly affects the housing market.
2. Vacancy as a factor: 5.6% vacancy rate means that not every apartment is a "sure-fire success". Quality and location within the city are more important here than in cities with housing shortages.
3. Moderate prices: With around €2,270/m² (median), the hurdle for getting started is lower than in many other major German cities.
4. Rent control: In spite of the vacancy, the rent control applies. This limits the potential for rent increases in new lettings.

Our recommendation: Wolfsburg is suitable as a supplement to a portfolio if you already have properties in more stable, broader-based locations. For the first property, the dependence on one employer might be too high.