What a flat costs outside Yerevan: prices in 12 towns
In Gyumri a square metre of a flat is listed at about 41% of the Yerevan price. We looked at sale listings in 12 towns: what sellers ask per square metre and for a whole flat, and how much space the same money buys in different places.
Imagine two families, one in Gyumri and one in Yerevan, looking for a flat of the same size, about 80 m². The typical Yerevan flat is listed at $164,000 and the typical Gyumri flat at $69,160. The asking price of one typical Yerevan flat is the asking price of about 2.4 typical Gyumri flats, and the Gyumri flat is even a little bigger: 79 m² against 78.
We looked at 12 towns outside Yerevan, every town with 40 or more flats for sale. The prices come from listings: they show what sellers ask, not what buyers end up paying. Every number was measured on 4 November 2026.
The price of a square metre
The full price of a flat says little on its own, because flats differ in size from town to town. So we compare the price per square metre. For each town we take the median: line up all the listings by price and the median is the one in the middle. It is a better guide than the average, because a few very expensive or very cheap listings do not pull it around.
In Yerevan the median square metre is listed at $2,162. Outside the capital, Tsaghkadzor is the most expensive at $1,724 and Vanadzor the cheapest at $839. Gyumri and Sevan are almost level, at $893 and $895.
Three groups of towns
Seen as a share of the Yerevan price, the towns fall into three groups.
Next to Yerevan: Abovyan, Vagharshapat (Echmiadzin), Artashat, Masis and Charentsavan. Here a square metre costs 58–70% of the Yerevan price. Prices come closest to Yerevan in Abovyan (70%) and Vagharshapat (67%).
Further away: Armavir (55%), Hrazdan (47%), Sevan, Gyumri (41%) and Vanadzor (39%). After Yerevan, Gyumri and Vanadzor have the most listings, and this is where the gap with Yerevan is widest.
Resorts: Tsaghkadzor (80%) and Dilijan (58%). Flats in Tsaghkadzor are small, 51 m² for the typical one, yet a square metre there costs more than in any other town outside Yerevan.
The gap is wide even within one province. In Kotayk, sellers in Tsaghkadzor ask 80% of the Yerevan price per square metre, in Abovyan 70%, in Charentsavan 58% and in Hrazdan 47%. In Vagharshapat it is 67%. The typical flat is listed at $95,000 in Abovyan and Vagharshapat and at $63,000 in Hrazdan, a gap of $32,000. The prices are fresh: in every town 84–100% of the listings were seen in the last 30 days, so these are mostly today's offers, not old, forgotten listings.
What the same money buys
The price of a typical Gyumri flat, $69,160, buys about 32 m² in Yerevan at the city's median price per square metre. That is a small one-room flat. In Gyumri the same money buys 79 m².
The same money in Gyumri and in Yerevan
Gyumri
- Price
- 69,160 $ · as of 4 Nov 2026
- Size
- 79 m² · as of 4 Nov 2026
The typical flat in sale listings.
Yerevan
- Price
- 69,160 $ · as of 4 Nov 2026
- Size
- 32 m² · as of 4 Nov 2026
The same money at Yerevan's median price per m².
The other way round: $100,000 is about 46 m² in Yerevan, 66 in Abovyan, 69 in Vagharshapat, 97 in Hrazdan, 112 in Gyumri and 119 m² in Vanadzor.
Flat size and the full price
Flats also differ in size. The largest typical flats are in Gyumri (79 m²), Yerevan (78 m²), Artashat (75 m²) and Vanadzor (74.5 m²). The smallest are in Tsaghkadzor, at 51 m², then Hrazdan, at 60 m².
The full price of a flat depends on two things: the price per square metre and the number of square metres. That is why in Hrazdan, where a square metre costs more than in Gyumri, the typical flat is cheaper, at $63,000: it is smaller. The lowest typical price is in Vanadzor and Sevan, $60,000. Outside Yerevan the typical flat costs most in Abovyan and Vagharshapat, $95,000.
The typical Yerevan flat costs 2.7 times as much as one in Vanadzor and 2.4 times as much as one in Gyumri. That does not make any place "cheap" or "expensive" for what you get: we do not see the state of the building or the flat inside, only the price and the size.
All the numbers
| Town | Listings | Median, $/m² | Typical price, $ | Typical size, m² | % of Yerevan |
|---|---|---|---|---|---|
| Yerevan | 16,260 | 2,162 | 164,000 | 78 | 100 |
| Tsaghkadzor | 50 | 1,724 | 88,500 | 51 | 80 |
| Abovyan | 144 | 1,518 | 95,000 | 65 | 70 |
| Vagharshapat | 149 | 1,441 | 95,000 | 71 | 67 |
| Artashat | 64 | 1,291 | 90,000 | 75 | 60 |
| Charentsavan | 46 | 1,248 | 73,000 | 65 | 58 |
| Dilijan | 66 | 1,247 | 80,116 | 68 | 58 |
| Masis | 48 | 1,246 | 90,000 | 70 | 58 |
| Armavir | 50 | 1,195 | 80,000 | 72 | 55 |
| Hrazdan | 114 | 1,026 | 63,000 | 60 | 47 |
| Sevan | 58 | 895 | 60,000 | 69.5 | 41 |
| Gyumri | 190 | 893 | 69,160 | 79 | 41 |
| Vanadzor | 188 | 839 | 60,000 | 74.5 | 39 |
Smaller towns have few listings, between 46 and 66, so a handful of new listings there can move the median by tens of dollars. Gyumri (190) and Vanadzor (188) have the most data. Prices are spread widely, too: in Gyumri the middle half of listings (leaving out the cheapest and the most expensive quarters) ask between $734 and $1,071 per square metre, in Yerevan between $1,739 and $2,876.