What is the average apartment rent in Tokyo?

Authored by the expert who managed and guided the team behind the Japan Property Pack

Yes, the analysis of Tokyo's property market is included in our pack

Who is the author of this content?

BAMBOOROUTES

A team specialized in real estate investing in APAC countries (Japan, Thailand, Indonesia, Australia, etc.).

We are a team of financial experts, legal professionals, developers, and local real estate specialists dedicated to helping people like you avoid mistakes when investing in real estate in a foreign place, particularly in Tokyo. If you'd like to learn more about us, you can check our presentation page.

How this content was created 🔎📝

At BambooRoutes, we explore the Japanese real estate market every day. Our team doesn't just analyze data from a distance—we're actively engaging with local realtors, investors, and property managers in cities like Tokyo, Osaka, and Kyoto. This hands-on approach allows us to gain a deep understanding of the market from the inside out.

These observations are originally based on what we've learned through these conversations and our observations. But it was not enough. To back them up, we also needed to rely on trusted resources

We prioritize accuracy and authority. Trends lacking solid data or expert validation were excluded.

Trustworthiness is central to our work. Every source and citation is clearly listed, ensuring transparency. A writing AI-powered tool was used solely to refine readability and engagement.

To make the information accessible, our team designed custom infographics that clarify key points. We hope you will like them! All illustrations and media were created in-house and added manually.

What's the current average rent in Tokyo by district or neighborhood?

As of September 2025, Tokyo rental prices show dramatic variation across different districts and neighborhoods.

Central wards including Minato, Chiyoda, and Shibuya command the highest rents in the city. Studios in these premium locations average ¥135,000-¥150,000 per month, while 1LDK apartments range from ¥228,000-¥300,000 monthly.

Popular urban districts like Shibuya and Shinjuku offer slightly more affordable options, with studios averaging ¥124,000-¥135,000 and 1LDK units ranging from ¥185,000-¥267,000 per month. Northern and eastern districts such as Toshima and Arakawa provide middle-tier pricing, with studios at ¥91,000-¥104,000 and 1LDK apartments from ¥164,500-¥191,000.

Outer wards including Adachi and Katsushika represent the most affordable options within Tokyo's 23 special wards. Studios in these areas cost ¥80,000-¥100,000 monthly, while 1LDK units range from ¥130,000-¥170,000. Greater Tokyo suburbs extend beyond the special wards and offer the lowest rents, with studios starting at ¥70,000-¥90,000 and 1LDK apartments from ¥120,000-¥150,000.

The price differential between central and outer areas reaches 50-80% for comparable property types, reflecting Tokyo's highly stratified rental market based on location and accessibility.

How does rent differ between property types like studios, 1-bedroom, family apartments, and luxury units?

Tokyo rental prices increase significantly with property size and quality, creating distinct market segments for different tenant types.

Property Type	Central Tokyo Range (¥/month)	Outer Tokyo Range (¥/month)	Typical Features
Studio (1K/1R)	¥135,000-¥150,000	¥80,000-¥100,000	15-25 sqm, single room with kitchenette
1LDK	¥228,000-¥300,000	¥130,000-¥170,000	30-50 sqm, separate bedroom and living area
2LDK Family	¥300,000+	¥170,000-¥240,000	50-70 sqm, two bedrooms plus living/dining
3LDK Family	¥400,000+	¥220,000-¥300,000	70-90 sqm, three bedrooms plus living areas
Luxury Units	¥373,900-¥401,300	¥128,700-¥179,900	Premium finishes, concierge, prime locations
Detached Houses	¥373,900+	¥128,700-¥179,900	100-200 sqm, private garden, parking

Studios represent the entry-level market, primarily targeting young professionals and students. The jump from studios to 1LDK apartments typically costs 60-80% more rent, reflecting the premium for separate living and sleeping spaces.

Family apartments (2LDK and 3LDK) command significantly higher rents, with 2LDK units costing roughly double studio rents and 3LDK units reaching triple or quadruple studio prices in central areas. Luxury units and detached houses represent the premium segment, with prices varying widely based on specific amenities and locations.

What's the average rent per square meter for each type of property?

Tokyo's rent per square meter varies significantly by property type and location, with smaller units commanding higher per-square-meter rates.

Studios demonstrate the highest per-square-meter costs due to their compact size and fixed overhead costs. In central Tokyo, studios average ¥4,800-¥6,700 per square meter monthly, making them expensive on a space basis but accessible for single occupants.

1LDK apartments offer better per-square-meter value at ¥4,600-¥5,000 monthly in central areas. Family apartments show increasing efficiency with size, with 2LDK units at ¥5,000-¥5,400 per square meter and 3LDK units at ¥5,400-¥5,600 per square meter.

Large luxury units command premium rates of ¥6,200 or more per square meter due to high-end finishes and prime locations. Detached houses offer the best per-square-meter value at ¥1,100-¥2,200 monthly, reflecting their suburban locations and older building stock.

The inverse relationship between unit size and per-square-meter cost means larger families can achieve better space efficiency, while single tenants pay premium rates for central location convenience.

What is the total monthly cost for a renter once you add in management fees, utilities, and local taxes?

Tokyo renters face significant additional costs beyond base rent that typically add ¥20,000-¥25,000 to monthly housing expenses.

Management and repair fees represent the largest additional cost, averaging ¥300-¥400 per square meter monthly. For an 18.25 square meter studio, this adds approximately ¥7,300 per month, while larger family apartments may incur ¥15,000-¥25,000 in management fees.

Utility costs for a single occupant average ¥13,000 monthly, covering electricity, gas, and water services. Internet and television services add another ¥3,000-¥5,000 monthly depending on the package selected.

Local taxes for renters remain minimal, often bundled into building management fees rather than charged separately. However, some premium buildings may include additional service charges for amenities like gyms or concierge services.

A practical example shows total monthly costs: a central Tokyo studio renting for ¥120,000 would incur ¥7,300 in management fees, ¥13,000 in utilities, and ¥4,000 for internet, totaling ¥144,300 monthly. Family apartments face proportionally higher additional costs, with total monthly expenses often exceeding base rent by 20-25%.

How do financing costs or mortgage payments compare with current rental income for property owners?

Tokyo property owners face tight margins between mortgage payments and rental income, particularly in central districts where acquisition costs remain high.

A typical 70 square meter apartment in central Tokyo costs ¥90-¥100 million to purchase in prime areas like Minato, Shibuya, or Chiyoda. Assuming a 1.5% mortgage rate over 35 years, monthly payments reach approximately ¥256,000 on a ¥90 million principal.

Similar properties generate gross rental income of ¥285,000 monthly when achieving typical yields of 3.8-4.2%. After deducting management fees, maintenance, and taxes, net rental income often breaks even with mortgage payments or produces modest positive cash flow.

The narrow margin between financing costs and rental income explains why many Tokyo property owners rely on capital appreciation rather than rental yield for investment returns. Central Tokyo yields of 2-4% barely cover financing costs, while outer areas offering 5-7% yields provide better cash flow opportunities.

It's something we develop in our Japan property pack.

What are typical examples of actual rental prices right now for different property types in central vs suburban areas?

Current Tokyo rental market examples demonstrate the significant price differential between central and suburban locations across all property types.

In central Minato ward, a modern 25 square meter studio apartment rents for ¥145,000 monthly, while a comparable unit in outer Adachi ward costs ¥85,000. A 40 square meter 1LDK apartment in central Shibuya commands ¥280,000 monthly, compared to ¥145,000 for similar space in suburban Saitama.

Family apartments show even larger absolute price differences. A 60 square meter 2LDK in central Chiyoda ward rents for ¥350,000 monthly, while an equivalent property in outer Katsushika ward costs ¥190,000. Three-bedroom family apartments demonstrate the most dramatic variation, with central 3LDK units reaching ¥450,000-¥500,000 versus suburban equivalents at ¥250,000-¥300,000.

Luxury detached houses in prime central locations like Minato ward command ¥400,000+ monthly, while similar properties in greater Tokyo suburbs rent for ¥150,000-¥200,000. The price premium for central location consistently reaches 50-80% across all property categories.

These examples reflect September 2025 market conditions and demonstrate why location choice significantly impacts rental budgets for Tokyo residents.

What are the vacancy rates by property type and by neighborhood?

Tokyo's rental market shows varying vacancy rates across districts and property types, with central areas experiencing higher vacancy despite premium pricing.

The citywide vacancy rate averages 9% as of 2025, but specific districts show significant variation. Toshima leads with 13% vacancy, followed by Minato at 12.4% and Chuo at 11.9%, indicating oversupply in certain premium segments.

Suburban districts typically maintain lower vacancy rates due to better affordability and family demand. Family-oriented properties and larger apartments generally experience lower vacancy than small studio units or premium luxury apartments.

Smaller units and premium luxury apartments face higher vacancy rates due to their narrow target market and premium pricing. Many international tenants and young professionals prefer these units but represent a limited pool compared to the broader family and middle-income market.

Older family units in outer areas maintain the lowest vacancy rates, reflecting strong demand from Japanese families seeking space and value. The vacancy pattern suggests oversupply in luxury small units while family-friendly properties remain in high demand.

Who are the main renter profiles in Tokyo today—students, expats, families, or professionals—and how do they differ in demand?

Tokyo's rental market serves distinct tenant segments with different location preferences and space requirements, creating varied demand patterns across the city.

1. **Young Professionals and Expats**: Drive highest demand in central and premium wards, preferring modern 1LDK and 2LDK apartments with proximity to business districts and English-speaking amenities. They typically budget ¥150,000-¥300,000 monthly and prioritize convenience over space.2. **Japanese Families**: Dominate suburban and outer ward demand, seeking 2LDK+ apartments and detached houses in areas like Setagaya, Suginami, and Nerima. They prioritize space, schools, parks, and value, typically budgeting ¥200,000-¥350,000 for family-sized accommodations.3. **Students**: Concentrate in northern and eastern Tokyo near universities, preferring affordable studios and shared accommodations. Their average rent budget ranges ¥80,000-¥110,000 monthly, making them price-sensitive tenants seeking basic amenities.4. **Retirees**: Represent a growing segment in outer city areas, seeking quiet neighborhoods with good medical facilities and transportation. They often downsize from larger properties and prefer manageable apartment living over house maintenance.5. **International Corporate Tenants**: Command premium apartment segments with company housing allowances, often renting luxury 2LDK-3LDK units in central areas for ¥300,000-¥500,000+ monthly.

Each segment's demand creates distinct market dynamics, with professionals driving central area prices while families support suburban rental markets.

What are the current rental yields for different types of apartments, and how do they vary by area?

Tokyo rental yields in 2025 show clear geographic patterns, with outer areas significantly outperforming central districts for investment returns.

Central wards including Minato, Chiyoda, and Shibuya generate rental yields of 2-3% annually, reflecting high property acquisition costs relative to rental income. These premium locations attract investors seeking capital appreciation rather than rental cash flow.

Urban districts like Shibuya and Shinjuku also produce yields in the 2-3% range, though some properties may reach 3-4% depending on specific location and property condition. The trade-off between location prestige and yield performance remains significant.

Outer wards and suburban areas deliver substantially higher rental yields of 5-7% annually, making them attractive for income-focused investors. These areas benefit from lower acquisition costs while maintaining steady rental demand from families and price-conscious tenants.

The citywide average rental yield ranges from 3.4-4.2%, with southern districts averaging 3.8% in 2024. Properties targeting families and middle-income tenants typically achieve better yields than luxury or premium small units.

It's something we develop in our Japan property pack.

We did some research and made this infographic to help you quickly compare rental yields of the major cities in Japan versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you're planning to invest there.

How have rents and yields changed compared with one year ago and five years ago?

Tokyo's rental market has experienced significant growth over both short and long-term periods, with accelerating rent increases in recent years.

Over the past year, citywide rents increased 6.7%, with some districts showing dramatic growth. Minato ward saw rents rise 12% year-over-year, while Setagaya experienced exceptional growth of 21%. Single-person units in certain areas recorded increases of 15.8%, reflecting strong demand from young professionals and international tenants.

The five-year trend shows even more substantial appreciation, with central area rents rising 30-50% since 2020. Outer and suburban areas experienced more moderate but still significant increases of 10-20% over the same period. This pattern reflects Tokyo's economic recovery and increased international interest in Japanese real estate.

Rental yields have remained relatively stable or declined slightly despite rent increases, as property acquisition costs have risen faster than rental income. Central areas particularly show yield compression as investor demand drives up property prices.

The consistent upward trend in rents demonstrates Tokyo's rental market strength, though the pace of growth may moderate as affordability concerns emerge for certain tenant segments.

What is the rental market forecast for one year, five years, and ten years ahead?

Tokyo's rental market outlook suggests continued growth with evolving demand patterns across different time horizons.

The next year will likely see continued rent growth of 2-5% citywide, driven by persistent high demand from professionals and expatriates. Premium zones may experience more modest growth as affordability limits emerge, while rental supply constraints support pricing power for landlords.

Five-year projections point to significant market changes from major infrastructure developments. The Takanawa Gateway redevelopment and Toranomon/Azabu projects will likely lift rents in affected neighborhoods substantially. Suburban demand may increase as remote work flexibility encourages tenants to prioritize space and affordability over central location proximity.

Ten-year forecasts suggest moderate rent growth in central and urban cores, with higher appreciation potential in redeveloped areas and improved outer districts. Population demographic shifts and completed infrastructure upgrades will create new premium rental zones while traditional central areas may see slower growth.

The overall trajectory supports rental market stability with selective opportunities in emerging areas, though investors should expect lower yields in established central districts as the market matures.

How do Tokyo rents and yields compare with other global cities like New York, London, Hong Kong, or Singapore?

Tokyo offers significantly more affordable rental costs than other major global financial centers while maintaining comparable investment yields.

City	1BR Central Rent (¥/month)	3BR Central Rent (¥/month)	Typical Yield (%)
Tokyo	¥200,000-¥300,000	¥400,000-¥600,000	3.0-4.2
New York	¥400,000-¥600,000+	¥750,000-¥1,000,000+	2.5-3.5
London	¥400,000-¥600,000+	¥700,000-¥900,000+	2.7-3.7
Hong Kong	¥420,000-¥700,000+	¥900,000-¥1,200,000+	2.4-3.2
Singapore	¥600,000-¥800,000+	¥1,000,000+	2.7-3.4

Tokyo demonstrates clear affordability advantages, with central one-bedroom apartments costing 50-70% less than equivalent units in New York, London, Hong Kong, or Singapore. Three-bedroom family apartments show even greater savings, often costing half the price of comparable space in other global cities.

Rental yields in Tokyo match or exceed those in competing cities, particularly in suburban areas where 5-7% yields significantly outperform the 2-3% typical in other global centers. However, Tokyo apartments typically offer less space per unit than Western cities.

The combination of lower rental costs and competitive yields makes Tokyo attractive for both tenants and investors compared to other major Asian and Western financial centers, though space constraints require adjusted expectations for living standards.

It's something we develop in our Japan property pack.

Conclusion

This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.

Sources

1. BambooRoutes - Average Rent Tokyo
2. BambooRoutes - Average Rent Japan
3. BambooRoutes - Average Apartment Rent Tokyo
4. Eaves Japan - Japan Single Family Rental Market Guide
5. Japan Guide - Cost of Living
6. Japan Living Guide - Utility Prices
7. Wise - Cost of Living Tokyo
8. ARealty - Tokyo Apartments Guide 2025
9. Global Property Guide - Japan Rental Yields
10. E-Housing - Tokyo Rental Yield Analysis