With 115,762 students, 358,741 jobs and an aerospace industry employing more than 70,000 people in its employment area, Toulouse offers broad rental demand, with no rent control. Prices, rents, neighbourhoods, budgets and yield: what you need to know before buying in Toulouse from abroad.
The public indicators that matter before buying to let in Toulouse, each with its source.
Toulouse has 514,819 inhabitants according to the 2023 INSEE census. 65.8% of main residences are occupied by tenants and 55.6% of households consist of one person: favourable ground for small units and house shares.
The rent map of the Ministry of Housing and ANIL gives an advertised rent of about €16.3 per m² including charges for a 1- or 2-room apartment in Toulouse, compared with €12.8 for 3 rooms or more.
Sales recorded in DVF show the average price per m² for apartments up 1.3% between July 2025 and June 2026 compared with the previous twelve months, with 6,987 apartments sold.
Vacancy reaches 8.2% of dwellings according to INSEE. This overall rate includes run-down older homes and homes under renovation: a renovated, well-located property at the right rent generally lets faster.
| Indicator | Value | Source |
|---|---|---|
| Median price per m² of apartments sold | €3,295/m² (35,348 sales) | DVF, statistics (data.gouv.fr), July 2021 to June 2026 |
| Average price per m² over the last 12 months | 3 447 €/m² | DVF, statistics (data.gouv.fr), July 2025 to June 2026 |
| Population | 514,819 inhabitants | INSEE, census, 2023 |
| Average annual population change | +1.2% per year (2017 to 2023) | INSEE, census, 2023 |
| Young people aged 18 to 24 in education | 71,168, or 73.3% of 18 to 24-year-olds | INSEE, census, 2023 |
| Pupils, students and trainees among 15-64 year olds | 17,2 % | INSEE, census, 2023 |
| Main residences occupied by tenants | 65,8 % | INSEE, census, 2023 |
| Single-person households | 55.6% of households | INSEE, census, 2023 |
| One-room main residences | 16,5 % | INSEE, census, 2023 |
| Vacant homes | 8.2% of the housing stock | INSEE, census, 2023 |
| Advertised rent, apartment of 1 or 2 rooms | €16.3/m² including charges | 2025 rent map (Ministry of Housing, ANIL), 3rd quarter of 2025 |
| Advertised rent, apartment of 3 rooms or more | €12.8/m² including charges | 2025 rent map (Ministry of Housing, ANIL), 3rd quarter of 2025 |
| Change in the average price per m² of apartments sold | +1.3% (July 2025 to June 2026, compared with the previous 12 months) | DVF, monthly statistics (data.gouv.fr), average weighted by number of sales |
| Apartment sales over 12 months | 6,987 sales (July 2025 to June 2026) | DVF, monthly statistics (data.gouv.fr) |
| Market rent of empty homes re-let during the year | €13.3/m² excluding charges in Toulouse, from €11.4 (zone 5) to €16.9 (hyper-centre) | Local rent observatory of the Toulouse urban area, 2025 rents |
| Students at the three universities | Toulouse - Jean Jaurès 28,773, Université de Toulouse 28,578, Toulouse Capitole 16,854 (plus 2,164 at the Toulouse School of Economics) | Ministry of Higher Education, enrolment atlas, 2025-2026 |
| Aerospace jobs | 70,495 in the Toulouse employment area, 16.3% of market-sector salaried employment | INSEE Analyses Occitanie no. 145 (2022 data) |
| Staff of Toulouse University Hospital (CHU) | 17 029 | Toulouse University Hospital (CHU), key indicators, 2025 |
| Passengers at Toulouse-Matabiau station | 14.5 million in 2024 | SNCF Gares & Connexions, station footfall |
| Unemployment rate in the Toulouse employment area | 9.1% in the 2nd quarter of 2026 (8.3% in France) | INSEE, unemployment rate by employment area |
Expatriates supported by ImmoPourExpat have already bought in Toulouse: their property and their figures.
Three typical properties, at the median sale price and the town’s advertised rent: enough to place your budget before you start searching.
1 room of 25 m², the median size of studios sold
Market benchmark: 55.6% of households in Toulouse live alone, which supports demand for small units (INSEE, 2023 census).
2 rooms of 43 m², the median size of two-room apartments sold
Market benchmark: 65.8% of main residences are rented in Toulouse (INSEE, 2023 census).
4 rooms or more, 83 m², the median floor area sold
The advertised rent is an average for the town: depending on the neighbourhood, the condition of the property and its features, the rent you obtain may be higher or lower.
Median DVF sale prices from January 2025 to December 2025 in Toulouse. Rents estimated at the advertised rent of the 2025 rent map, including charges (€16.3 per m² for 1 or 2 rooms, €12.8 for 3 rooms or more). Notary fees estimated at 8% of the price (7 to 8% for older properties according to the notaires de France). Gross yield compares the annual rent with the purchase price, excluding fees and charges.
Toulouse offers neighbourhoods with very different profiles, from the old brick centre to recent eco-districts, linked by two metro lines, a tram line and, at the end of 2028, a third metro line.
Between Place du Capitole, Les Carmes and Saint-Étienne cathedral, the centre concentrates small homes: according to INSEE, three households in four are tenants in Capitole and Carmes, and 37% of Capitole residents are aged 18 to 24. The Institut catholique has 3,198 students here, and metro lines A and B cross at Jean-Jaurès. It is the most expensive zone of the rent observatory, at €16.9 per m² excluding charges for a re-let home. The whole area falls under the safeguarding plan, in force since June 2025: works require authorisation and the division of large homes is restricted.
On the other side of the Garonne, Saint-Cyprien lives around the La Grave and Hôtel-Dieu hospitals. According to INSEE, 79% of households are tenants and six homes in ten have one or two rooms. Metro A (Saint-Cyprien - République, Patte d’Oie, Arènes) and tram T1 link the district to the centre in a few minutes. As the low-lying part of the left bank, protected by dykes, Saint-Cyprien was the hardest hit by the 1875 flood: read the risk statement. The Arènes priority district is next door: choose the street carefully.
Between Compans-Caffarelli and Arnaud-Bernard, Université Toulouse Capitole has 16,854 students, including 9,068 in law, and the Toulouse School of Economics 2,164; Sciences Po Toulouse and TBS Education are a few streets away. In Arnaud-Bernard, 39% of residents are aged 18 to 24 and 76% of households are tenants, according to INSEE. Metro B serves Compans-Caffarelli, Jeanne-d’Arc and Canal du Midi. Note: in Arnaud-Bernard, a rental permit has been required before every new lease since 3 November 2025.
The Université de Toulouse, formerly Université Paul-Sabatier, has its main campus in Rangueil and 28,578 students, alongside INSA, ISAE-SUPAERO, ENAC and Rangueil University Hospital (860 beds). According to INSEE, half of the residents of the Rangueil district are aged 18 to 24, 82% of households are tenants and seven homes in ten have one or two rooms: prime territory for furnished studios. Five metro B stations and the Téléo cable car, linking the university, the hospital and the Oncopole, serve the area. Empalot, next to Saint-Agne, remains a priority district: check the address.
To the west, the Pierre-Paul Riquet hospital in Purpan (600 beds), the Purpan engineering school and the veterinary school attract healthcare staff and students, and, according to Tisséo, the Airbus sites in Colomiers, Saint-Martin and Defence and Space employ about 21,000 people. In Saint-Martin-du-Touch, 84% of main residences were completed between 1991 and 2017, the ZAC development plans 3,470 homes and metro line C will have a station there at the end of 2028. Tram T1 serves Purpan. The area has fewer tenants than average (56% in Purpan) and is close to the airport: check the noise zone of each address.
North of the Canal du Midi, Les Minimes lead to Borderouge, the metro B terminus, whose ZAC development has 5,300 homes around the Maourine park. According to INSEE, 62% of households in Les Minimes are tenants. Six metro B stations link the area to the centre. Rents here are among the lowest in Toulouse (zones 4 and 5 of the rent observatory) and the Izards and Trois Cocus priority district is next door: aim for a home close to the metro and visit the street.
On the former Montaudran airfield runway, the Toulouse Aerospace eco-district (56 hectares) plans 2,600 homes and already brings together more than 3,000 employees, researchers and students, around the B612 innovation centre and the Halle de La Machine. According to INSEE, 80% of households in Montaudran are tenants. The area has no metro yet, but line C will have five stations there, from Côte Pavée to Aerospace Campus, at the end of 2028; until then, Montaudran TER station and the Linéo buses serve it. Next door, Côte Pavée is a district of owner-occupiers, better suited to a family let than to a studio.
Neighbourhood profiles come from the 2020 INSEE census by large district, published by Toulouse Métropole, the latest available at this scale; rents come from the local rent observatory of the Toulouse urban area (2025). Official sale prices (DVF) are only published at municipal level, so no purchase price is given by neighbourhood.
Students, young professionals, engineers and healthcare staff: in Toulouse, demand comes from young tenants, drawn by the universities, the aerospace industry and the University Hospital.
According to INSEE, 43.6% of Toulouse residents aged 15 to 24 live alone, and six young people in ten who moved home during the year came from another municipality: studios and house shares near the campuses let at the start of every academic year.
According to INSEE, 35.2% of these jobs are managerial positions and 55.6% of Toulouse households consist of one person. Aerospace accounts for 70,495 jobs in the employment area, and the University Hospital for 17,029 staff.
Matabiau station welcomed 14.5 million passengers in 2024 (SNCF Gares & Connexions) and line C will link Airbus to the station at the end of 2028: engineers on assignment and transferred employees look for a furnished let or a mobility lease.
According to the local rent observatory, 26% of tenants in the unfurnished private rental stock of the urban area moved in during the year, and 70% of the studios observed were let in 2022 or later.
Sources: Ministry of Higher Education, 2025-2026 student enrolment atlas; INSEE, 2023 census and Analyses Occitanie no. 145 (2022 data); Toulouse University Hospital (2025); Tisséo Collectivités; SNCF Gares & Connexions (2024); local rent observatory of the Toulouse urban area (2025). Unemployment stands at 9.1% in the Toulouse employment area in the 2nd quarter of 2026, compared with 8.3% in France (INSEE).
In Toulouse, rent levels are not capped, but the high-demand zone limits increases between two tenants: choose the type of letting according to the property and the tenant you are targeting.
Investing in a house share from abroad →| Option | In Toulouse | Our view |
|---|---|---|
| Unfurnished rental | Three-year lease, suited to families and large homes in residential districts. In the high-demand zone, the rent of a new lease cannot exceed that of the previous tenant, except for a first letting, a home empty for more than 18 months or major works. | For a large home |
| Furnished | 115,762 students and 55.6% one-person households: furnished studios and two-room flats meet the broadest demand, near the campuses and the metro. | To prioritise |
| House share | According to INSEE, 14.1% of students in the Toulouse area live in house shares. They suit large apartments close to the campuses and the metro. | For a large home |
| Mobility lease | From 1 to 10 months, furnished, for a tenant in higher education, on an internship, in an apprenticeship, in vocational training, in civic service, on a job transfer or on a temporary assignment. | For a few months |
| Short-term rental | A change-of-use authorisation is compulsory for an investment: an individual can obtain two, valid for two years and renewable, without compensation; a company must provide compensation from the first home. | Possible, with authorisation |
In Toulouse, the rent is free for a first letting but then follows the high-demand zone rules, and the old centre has its own constraints. Check the rules below before costing your project.
Toulouse is in a high-demand zone, and remains so under the decree that will apply from 1 January 2027, but rent levels are not capped there. For a new lease signed between 1 August 2026 and 31 July 2027, the rent cannot exceed that of the previous tenant, except for the annual review, major works or a clearly undervalued rent; it remains free for a first letting or a home empty for more than 18 months. No increase is allowed for a home rated F or G.
A main residence can be let short-term for 120 days a year. For an investment, you need a change-of-use authorisation: an individual can obtain two, valid for two years and renewable, without compensation; beyond that, or for a company, you must provide compensation by converting other premises into housing. The energy rating must be between A and E, and the fine can reach €100,000 per home.
Only the Arnaud-Bernard district requires it: since 3 November 2025, every new lease of a main residence there needs prior authorisation, issued within 30 days of a complete application and valid for two years. Letting without authorisation exposes you to a fine of €5,000 to €15,000. The trial was announced for one year: check with the City Hall that it is continuing.
An unfurnished home empty for at least a year is already taxed in Toulouse: 17% of the cadastral rental value in the first year, 34% thereafter. In 2027, the new vacancy tax takes over with the same rates, which the municipality can raise. A home you keep for yourself as a second home pays a residence tax with a 20% surcharge.
The remarkable heritage site covers 256 hectares of the centre. Its safeguarding plan, in force since 13 June 2025, makes interior and exterior works subject to authorisation and restricts the division of large homes. In streets covered by a campaign, the City also requires façades to be restored at least every ten years.
A prevention plan covers flooding from the Garonne, the Touch and the Hers; part of the left bank and Les Amidonniers are protected by dykes. Two upper-tier Seveso sites, ArianeGroup and the Fondeyre oil depot, have their own technological risk prevention plan. Read the risk statement for each property: it is attached to the lease.
Your rents are taxed in France, whatever your country of residence. What changes is how they are treated at home and the rate of social contributions.
BelgiumFor a property held directly and let unfurnished, Belgium exempts these rents but uses them to set your tax rate. Social contributions: 7.5% if you are affiliated to Belgian social security and not dependent on any compulsory French scheme.
Investing from Belgium →
United KingdomThe United Kingdom also taxes your rents, with a credit for French income tax. The British tax authority (HMRC) includes in this credit the 7.5% solidarity levy, which is due if you are affiliated in the United Kingdom. Only the CSG and CRDS are excluded from it by the tax treaty.
Investing from the United Kingdom →
SwitzerlandSwitzerland exempts your French rents, but takes them into account for your tax rate. The 7.5% rate requires you to be covered by Swiss compulsory health insurance (LAMal) and not to be dependent on any compulsory French scheme.
Investing from Switzerland →The reduced rate depends on your affiliation, not your country: without affiliation in the European Union, the EEA, Switzerland or the United Kingdom, or if you are dependent on a compulsory French scheme, you pay the full rate.
Tax treaties by country →Rules taken from our country pages and our tax page, for 2025 income. Your exact situation depends on your affiliation and on your country’s tax treaty.
Your rents and your capital gain are taxed in France, even if you live abroad.
On resale, the tax on the capital gain is withheld by the notary, with allowances for length of ownership from the 6th year: exemption from tax after 22 years, and from social contributions after 30 years.
Depending on your situation, our strategies and the way your purchase is structured can reduce, or even neutralise, the tax: we look at them with you from the very first call.
Taxation for the expat investor →Property tax and household waste tax apply to half the cadastral rental value of the home: ask the seller for their latest notice to know the amount. Toulouse applies a 20% surcharge on the residence tax for second homes (2025). Sources: collectivites-locales.gouv.fr, impots.gouv.fr, notaires.fr.
Here is a simple example, for illustration purposes: a 40 m² two-room flat, at the median sale price and the average advertised rent.
| Furnished letting, micro-BIC regime | Affiliated in the EU, the EEA, Switzerland or the United Kingdom | Other cases (full rate) |
|---|---|---|
| Rents over one year | 7 824 € | 7 824 € |
| Taxable income after the 50% allowance | 3 912 € | 3 912 € |
| Income tax at the 20% minimum rate | − 782 € | − 782 € |
| Social contributions | − 293 € (7,5 %) | − 728 € (18,6 %) |
| Left after tax | 6 749 € | 6 314 € |
| Yield after tax | ≈ 5,1 % | ≈ 4,8 % |
Assumptions: furnished letting under the micro-BIC regime, 50% allowance, 20% minimum rate for non-residents (2025 income), rents received counted in full. The 7.5% rate also requires you not to be dependent on any compulsory French scheme: a retired person who receives only a French pension pays the full rate. Charges, property tax, notary fees and loan interest are not deducted: under the actual regime (régime réel), the tax can be significantly lower.
An advertised rentThe rent from the map is an advertised rent including charges, so it is higher than the rent excluding charges that you will receive.
The rent at your addressThe advertised rent is an average for the town: depending on the neighbourhood, the condition of the property and its size, the rent you obtain may be higher or lower.
Costs and chargesNotary fees, renovation works, property tax, insurance and management then reduce the net yield.
This calculation helps compare cities or properties; it does not guarantee any result.
Do you live abroad and are you looking at Toulouse? In 45 minutes, we tell you what is feasible with your budget, your down payment and your country of residence.
Book a call →Toulouse is 4 h 29 from Paris by direct TGV, with 7 trains a day according to the SNCF timetable, and its airport offers 67 direct-flight destinations this winter, including London, Brussels, Amsterdam, Geneva, Casablanca and Montreal. A shuttle links the airport to Matabiau station every 15 minutes.
7 direct TGVs on Thursday 12 November 2026, from Paris-Montparnasse to Toulouse-Matabiau, and 4 Intercités trains from Paris-Austerlitz, including one overnight.
At best with a change in Narbonne, according to the SNCF timetable: no direct train links Toulouse to Barcelona-Sants.
From Toulouse-Blagnac this winter, in 24 countries including France: London, Brussels, Amsterdam, Geneva, Lisbon, Casablanca, Montreal, Istanbul…
20 to 45 minutes by shuttle to Matabiau station depending on traffic, one departure every 15 minutes, €9.50 per journey.
38 stations, including Marengo-SNCF at the railway station and Jean-Jaurès for connections, plus tram T1 and the Téléo cable car.
27 km and 21 stations from Colomiers to Labège, via the Airbus sites, Matabiau station and Montaudran: opening planned for the end of 2028.
Timetables checked on 10 November 2026 in the official SNCF timetable (Thursday 12 and Tuesday 17 November), the 2026-2027 winter programme of Toulouse-Blagnac airport and the Tisséo shuttle timetable; they vary from day to day. Renfe trains to Spain are not included in the SNCF timetable. The Airport Line, which replaces tram T2, is announced for the end of 2026, with no precise date.
No, not for rent levels: Toulouse is not on the list of cities where reference rents apply, according to Service-Public. However, Toulouse is in a high-demand zone: for a new lease, the rent cannot exceed that of the previous tenant, except for the annual review, major works or a clearly undervalued rent. It is only free for a first letting, a home empty for more than 18 months or after recent major works. For a home rated F or G, no increase is allowed.
Yes, but with authorisation. Your apartment will be a second home: you need prior change-of-use authorisation, in addition to the registration number. An individual can obtain at most two temporary authorisations without compensation, valid for two years and renewable; a company must provide compensation from the first home. The home must have an energy rating of A to E, and the co-ownership rules must not prohibit this activity. Without authorisation, the fine can reach €100,000 per home.
Only in the Arnaud-Bernard district, where the City has been trialling it since 3 November 2025. It applies to main residences, unfurnished or furnished, at every first letting or change of tenant: the City Hall has 30 days to reply after a complete application, and the authorisation is valid for two years. Letting without authorisation exposes you to a fine of €5,000 to €15,000. Elsewhere in Toulouse, no authorisation is required, but the home must always be decent.
A furnished studio or two-room flat near the metro or a campus: according to INSEE, 44% of students in the Toulouse area live alone and 14% in house shares. Turnover is high: according to the local rent observatory, 70% of the studios observed were let in 2022 or later. From abroad, plan for a manager able to handle viewings and check-in and check-out inventories in summer, when tenants leave and arrive.
Yes, if it stays empty. Toulouse already applies the tax on vacant homes: an unfurnished home empty for at least a year on 1 January is taxed at 17% of its cadastral rental value in the first year, then 34%. In 2027, the new vacancy tax replaces it with the same rates, which the municipality can raise. A home occupied for more than 90 consecutive days in the year is not affected.
Yes. It covers 256 hectares of the centre, within the limits of the old city wall. Its safeguarding plan, in force since 13 June 2025, makes interior and exterior works subject to authorisation and restricts the division of large homes.
At the end of 2028, according to Toulouse Métropole. It will have 27 km and 21 stations, from Colomiers to Labège, with connections to line A at Matabiau, to line B at François-Verdier, La Vache and Labège, and to trains at five stations.
According to sales recorded in DVF from January 2025 to December 2025, a studio sold for a median price of €100,000, a two-room flat for €137,155 and a large home for €247,137. Allow about 8% notary fees on top for older properties, and a works budget if the energy rating is poor.
In 2026, the municipal property tax rate is 35.35%, plus 13.20% for the intermunicipality. These rates apply to half the cadastral rental value of the home: ask the seller for their latest property tax notice to know the amount.
For a 40 m² furnished two-room apartment bought for €131,800 and let for €652 a month, about 5.1% of the price remains after tax if you are covered by a scheme in the European Union, the EEA, Switzerland or the United Kingdom without depending on a mandatory French scheme, and 4.8% otherwise, under the micro-BIC regime and at the minimum rate of 20%. Charges, property tax and purchase costs are not deducted.
The capital gain is taxed in France at 19%, plus social contributions, and the notary withholds this tax at the time of sale, with an exemption from tax after 22 years and from social contributions after 30 years of ownership.
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