The 21 most profitable towns to invest in Estonia
One Place tracks 21 towns in Estonia with more than 10,000 residents and enough live apartment listings to price both sides of a rental yield. The median across all of them is 6.5% gross. Here are the highest scoring.
Market figures last recomputed on August 21, 2026.
- Highest gross yield in the top 21
- Valga vald12.7%
- Lowest entry price in the top 21
- Valga vald€472/m²
- Largest market in the top 21
- Tallinn457,572 residents
| # | Town | Residents | Sale price /m² | Rent /m²/month | Gross yield | Listings analysed | Score /100 |
|---|---|---|---|---|---|---|---|
| 1 | Narva linn | 53,360 | €585 | €5.2 | 10.6% | 741 sale · 133 rent | 72.0 |
| 2 | Valga vald | 15,693 | €472 | €5.0 | 12.7% | 80 sale · 16 rent | 63.2 |
| 3 | Tallinn | 457,572 | €3,999 | €14.9 | 4.5% | 5,672 sale · 1,906 rent | 49.1 |
| 4 | Tapa vald | 11,082 | €693 | €5.7 | 9.9% | 93 sale · 20 rent | 47.8 |
| 5 | Jõgeva vald | 13,122 | €616 | €4.6 | 9.0% | 80 sale · 19 rent | 42.7 |
| 6 | Tartu linn | 101,032 | €3,128 | €12.4 | 4.8% | 1,094 sale · 685 rent | 41.5 |
| 7 | Võru linn | 12,112 | €1,110 | €7.3 | 7.9% | 90 sale · 36 rent | 38.4 |
| 8 | Lääne-Harju vald | 13,837 | €1,130 | €7.3 | 7.7% | 174 sale · 40 rent | 38.4 |
| 9 | Maardu | 17,017 | €2,054 | €12.0 | 7.0% | 167 sale · 40 rent | 35.2 |
| 10 | Viljandi linn | 17,255 | €1,584 | €8.5 | 6.5% | 136 sale · 72 rent | 34.4 |
| 11 | Saaremaa vald | 30,304 | €1,613 | €9.0 | 6.7% | 100 sale · 23 rent | 33.7 |
| 12 | Rakvere linn | 15,695 | €1,351 | €8.1 | 7.2% | 111 sale · 25 rent | 33.5 |
| 13 | Haapsalu linn | 13,379 | €1,526 | €8.5 | 6.7% | 185 sale · 29 rent | 29.6 |
| 14 | Pärnu linn | 52,362 | €3,151 | €10.1 | 3.8% | 961 sale · 222 rent | 29.6 |
| 15 | Rae vald | 24,902 | €3,274 | €12.3 | 4.5% | 322 sale · 44 rent | 21.4 |
| 16 | Rapla vald | 13,453 | €1,709 | €8.2 | 5.8% | 116 sale · 18 rent | 21.3 |
| 17 | Saue vald | 26,079 | €2,801 | €9.7 | 4.2% | 147 sale · 41 rent | 18.9 |
| 18 | Viimsi vald | 23,018 | €3,746 | €11.7 | 3.7% | 257 sale · 43 rent | 15.5 |
| 19 | Harku vald | 18,176 | €3,486 | €12.2 | 4.2% | 174 sale · 25 rent | 14.4 |
| 20 | Tartu vald | 12,941 | €3,136 | €11.8 | 4.5% | 255 sale · 25 rent | 14.2 |
| 21 | Keila linn | 10,964 | €3,668 | €11.9 | 3.9% | 182 sale · 20 rent | 7.9 |
A town qualifies with at least 25 apartment sale listings and 15 apartment rental listings priced per square metre. The badge next to each name says how much data stands behind that town's figures.
Data confidenceHigh200 listings or moreMediumat least 60Lowfewer than 60
Counted on the thinner of a town's two sides: whichever of its sale and rental listings is the smaller number.
How this ranking is built
Gross yield is the median asking rent per m² per month multiplied by twelve, divided by the median asking sale price per m². Both sides are apartments only, and both are converted to euros before anything is compared.
The score out of 100 blends three measured quantities: the gross yield (60%, scored from 3.0% upwards and topping out at 12.0%), the town's population (25%, which stands in for how deep the tenant and resale markets are), and how many listings sit behind the estimate (15%).
What these numbers are not
- Both sides are asking prices, not signed prices or achieved rents. Where public transaction data lets us check, asking and sold prices per m² track within a few percent, but the level is an asking level.
- Nothing here is net of property tax, service charges, management, insurance, maintenance or vacancy. A net yield usually lands somewhere around two thirds of gross, and the gap varies far too much between countries to publish a single conversion.
- Rental listings are smaller than sale listings almost everywhere, and price per m² rises as flats get smaller. That lifts a yield built from two independent medians above what a town's typical sale stock would return. Towns where the size mismatch is extreme are dropped rather than adjusted.
- Population comes from Wikidata, which mirrors each country's own statistics office. A town we hold no population for cannot be ranked, however good its price data.
Prices and rents: live listings indexed by One Place. Population: Wikidata (CC0). Administrative boundaries: © OpenStreetMap contributors (ODbL).
Search these markets in plain words
Describe what you are looking for and One Place searches every listing it has indexed, with no filters to set up first.
Questions about this ranking
- How is the gross rental yield for towns in Estonia calculated?
- We take the median asking rent per square metre per month for apartments in the town, multiply it by twelve, and divide it by the median asking sale price per square metre for apartments in the same town. Both figures come from live listings indexed by One Place, and a town only appears once each side carries enough listings to be meaningful.
- Which towns in Estonia are included?
- Every municipality with at least 10,000 residents that carries enough live apartment listings to price both sale and rent. 21 towns in Estonia currently qualify; the table shows the highest scoring of them.
- Is this a net yield?
- No. These are gross figures, before property tax, service charges, management fees, insurance, maintenance and vacancy. A net yield is usually somewhere around two thirds of gross, but the gap varies enough between countries and between individual buildings that we do not publish a single conversion.
- How often does the ranking change?
- It is rebuilt from the live listing base, so it moves as prices and inventory move. The date above the table is the last time the underlying market aggregates were recomputed.
