Authored by the expert who managed and guided the team behind the Japan Property Pack
Everything you need to know before buying real estate is included in our Japan Property Pack
Japan has a unique rental market where big-city apartments near train stations keep getting more expensive, while the country overall has millions of vacant homes.
In this article, we break down what rents actually look like across Japan in 2026, from studio apartments to family-sized units, and we keep updating this blog post with fresh data.
And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Japan.
Insights
- Tokyo's prime wards like Minato-ku and Shibuya-ku command rents that are often double or more the Japan nationwide average for the same apartment size.
- Japan's official vacancy rate sits at nearly 14%, but most of those empty homes are old or rural properties that do not compete with rentable apartments in major cities.
- February through April is by far the busiest rental season in Japan because the school year and fiscal year both start in April, creating a rush of job transfers and student moves.
- Walk-to-station time is the single biggest rent driver in Japan, with properties under 10 minutes from a train station commanding clear premiums over similar units further away.
- Furnished rentals remain a small niche in Japan, mostly serving expats and corporate relocations, while the standard Japanese lease assumes the tenant brings everything including light fixtures.
- Tokyo 23-ward rents grew between 5% and 8% year-over-year through 2025, while the rest of Japan saw much calmer growth of just 1% to 2%.
- Well-priced apartments in top Tokyo neighborhoods often lease within 7 to 21 days, while older or poorly located stock can sit on the market for over two months.
- Landlords in Japan typically pay fixed asset tax and city planning tax totaling around 1.4% to 1.7% of the assessed property value each year.
What are typical rents in Japan as of 2026?
What's the average monthly rent for a studio in Japan as of 2026?
As of January 2026, the average monthly rent for a studio apartment in Japan is around ¥55,000, which works out to roughly $370 or €340.
That said, studio rents in Japan can realistically range from about ¥30,000 ($200 or €185) in smaller cities and older buildings up to ¥120,000 ($800 or €730) or more in central Tokyo neighborhoods.
The main factors that cause studio rents to vary within Japan are location (especially distance to train stations), building age, and whether the property is in a major city like Tokyo or Osaka versus a regional town.
What's the average monthly rent for a 1-bedroom in Japan as of 2026?
As of January 2026, the average monthly rent for a 1-bedroom apartment (often called 1DK or 1LDK in Japan) is around ¥72,000, which is approximately $480 or €440.
Depending on location and building quality, 1-bedroom rents in Japan realistically range from about ¥45,000 ($300 or €275) in less central areas to ¥180,000 ($1,200 or €1,100) in Tokyo's most desirable wards.
For context, neighborhoods like Nerima-ku or Adachi-ku in Tokyo offer some of the more affordable 1-bedroom options, while areas like Minato-ku, Shibuya-ku, and Meguro-ku sit at the expensive end of the spectrum.
What's the average monthly rent for a 2-bedroom in Japan as of 2026?
As of January 2026, the average monthly rent for a 2-bedroom apartment (typically 2DK or 2LDK) in Japan is around ¥98,000, which equals roughly $655 or €600.
The realistic range for 2-bedroom apartments in Japan spans from about ¥60,000 ($400 or €365) in regional cities and outer suburbs up to ¥300,000 ($2,000 or €1,825) or higher in central Tokyo's premium neighborhoods.
On the affordable side, areas like Saitama, Chiba, and parts of Kanagawa offer family-sized apartments at lower rents, while Minato-ku, Chuo-ku, and Shibuya-ku in Tokyo are among the most expensive for 2-bedroom units.
By the way, you will find much more detailed rent ranges in our property pack covering the real estate market in Japan.
What's the average rent per square meter in Japan as of 2026?
As of January 2026, the average rent per square meter in Japan is approximately ¥2,200, which translates to about $15 or €13 per square meter per month.
Across different neighborhoods in Japan, rent per square meter realistically ranges from ¥1,500 ($10 or €9) in regional areas and older stock up to ¥5,500 ($37 or €33) or more in Tokyo's central premium apartments.
Compared to other major Japanese cities, Tokyo's prime wards run significantly higher than Osaka, Nagoya, or Fukuoka, which typically fall somewhere between the national average and Tokyo's peak rates.
Properties that push rent per square meter above average in Japan are usually newer reinforced-concrete buildings, located within a 10-minute walk of a major train station, and feature modern amenities like auto-lock entry and separate bath and toilet.
How much have rents changed year-over-year in Japan in 2026?
As of January 2026, rents in Japan have increased by roughly 1% to 2% year-over-year nationwide, while Tokyo's 23 central wards have seen stronger growth of about 5% to 8%.
The main factors driving rent increases in Japan include continued strong demand for well-located apartments in major cities, rising land prices in urban areas, and gradual wage increases that are being passed through to housing costs.
This growth pattern is similar to what Japan experienced in 2024 and 2025, where Tokyo consistently outpaced the national average due to tight supply in prime neighborhoods.
What's the outlook for rent growth in Japan in 2026?
As of January 2026, rents in Japan are projected to grow by about 1% to 2% nationwide, with top-city prime locations potentially seeing 3% to 6% increases through the year.
The key factors likely to influence rent growth in Japan include ongoing urban migration, continued land price appreciation in well-connected areas, and whether wage growth keeps pace with inflation.
Neighborhoods expected to see the strongest rent growth in Japan include Tokyo's central wards like Minato-ku, Shibuya-ku, and Meguro-ku, along with transit-rich areas in Osaka and Fukuoka.
Risks that could cause rent growth in Japan to differ from projections include an economic slowdown, changes in remote work patterns, or faster-than-expected new construction in high-demand areas.
We have made this infographic to give you a quick and clear snapshot of the property market in Japan. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.
Which neighborhoods rent best in Japan as of 2026?
Which neighborhoods have the highest rents in Japan as of 2026?
As of January 2026, the neighborhoods with the highest average rents in Japan are Minato-ku (areas like Azabu and Roppongi), Shibuya-ku (Ebisu and Daikanyama), and Chiyoda-ku in central Tokyo, where monthly rents can easily exceed ¥300,000 ($2,000 or €1,825) for a 1-bedroom.
These Tokyo neighborhoods command premium rents because of their proximity to major business districts, excellent train access, upscale dining and shopping, and high concentrations of newer, well-maintained apartment buildings.
The typical tenant profile renting in these high-rent neighborhoods in Japan includes corporate executives, expats on housing allowances, dual-income professional couples, and diplomats.
By the way, we've written a blog article detailing what are the current best areas to invest in property in Japan.
Where do young professionals prefer to rent in Japan right now?
The top three neighborhoods where young professionals prefer to rent in Japan are Shibuya and Ebisu (Shibuya-ku), Nakameguro (Meguro-ku), and Shimokitazawa (Setagaya-ku), all offering a mix of nightlife, cafes, and quick commutes.
Young professionals in these Japan neighborhoods typically pay monthly rents ranging from ¥80,000 to ¥150,000 ($535 to $1,000 or €490 to €915) for a studio or 1-bedroom apartment.
What attracts young professionals to these neighborhoods in Japan includes walkable streets with trendy restaurants and bars, easy access to major train lines, and a generally vibrant social atmosphere.
By the way, you will find a detailed tenant analysis in our property pack covering the real estate market in Japan.
Where do families prefer to rent in Japan right now?
The top three neighborhoods where families prefer to rent in Japan are Setagaya-ku (especially Futako-Tamagawa), Suginami-ku (Ogikubo area), and Koto-ku (Toyosu), all offering more space and a calmer environment while staying connected to central Tokyo.
Families in these Japan neighborhoods typically pay monthly rents of ¥120,000 to ¥250,000 ($800 to $1,670 or €730 to €1,520) for a 2 to 3 bedroom apartment.
What makes these neighborhoods attractive to families in Japan includes larger apartment sizes, proximity to parks and green spaces, lower crime rates, and good access to reputable schools.
Top-rated educational options near these family-friendly neighborhoods in Japan include various public and private elementary schools, as well as international schools in adjacent areas like the American School in Japan (Chofu) and Tokyo International School.
Which areas near transit or universities rent faster in Japan in 2026?
As of January 2026, the areas near transit hubs or universities that rent fastest in Japan include the Shinjuku and Ikebukuro station zones, Takadanobaba (near Waseda University), and Hongo (near the University of Tokyo).
Properties in these high-demand areas in Japan typically stay listed for just 7 to 14 days when priced correctly, compared to 4 to 6 weeks in less connected locations.
The rent premium for properties within walking distance of major transit or universities in Japan is typically ¥10,000 to ¥25,000 ($65 to $165 or €60 to €150) per month above similar units further away.
Which neighborhoods are most popular with expats in Japan right now?
The top three neighborhoods most popular with expats in Japan are Hiroo and Azabu (Minato-ku), Ebisu (Shibuya-ku), and Nakameguro (Meguro-ku), all known for English-friendly services and international communities.
Expats in these Japan neighborhoods typically pay monthly rents of ¥180,000 to ¥400,000 ($1,200 to $2,670 or €1,095 to €2,435) for a 1 to 2 bedroom apartment.
What makes these neighborhoods attractive to expats in Japan includes proximity to international schools, English-speaking staff at local businesses, diverse dining options, and a higher density of furnished rental options.
The nationalities most represented in these expat-friendly neighborhoods in Japan include Americans, Europeans (especially British, French, and German), Australians, and professionals from other Asian countries working for multinational companies.
And if you are also an expat, you may want to read our exhaustive guide for expats in Japan.
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Who rents, and what do tenants want in Japan right now?
What tenant profiles dominate rentals in Japan?
The top three tenant profiles that dominate the rental market in Japan are singles and couples in metro areas (the largest group), families in inner suburbs and commuter belts, and international tenants concentrated in Tokyo, Osaka, and Fukuoka.
Singles and couples make up roughly 50% to 60% of rental demand in major Japanese cities, while families account for about 25% to 30%, and international tenants represent around 5% to 10% in the most global neighborhoods.
Singles and couples in Japan typically seek studios to 1LDK apartments, families look for 2LDK to 3LDK units with more floor space, and international tenants often prefer furnished or semi-furnished options in English-friendly buildings.
If you want to optimize your cashflow, you can read our complete guide on how to buy and rent out in Japan.
Do tenants prefer furnished or unfurnished in Japan?
In Japan, roughly 85% to 90% of tenants prefer unfurnished apartments, while furnished rentals remain a niche of about 10% to 15%, mostly serving expats and corporate relocations.
The typical rent premium for furnished apartments in Japan is around ¥20,000 to ¥50,000 ($135 to $335 or €120 to €305) per month compared to unfurnished units of similar size and location.
Tenant profiles that tend to prefer furnished rentals in Japan include expats on short-term assignments, corporate employees on temporary transfers, and international students who cannot easily buy furniture.
Which amenities increase rent the most in Japan?
The top five amenities that increase rent the most in Japan are walk-to-station time under 10 minutes, newer reinforced-concrete construction, auto-lock security systems, in-unit washer hookups, and separate bath and toilet layouts.
These amenities in Japan typically command rent premiums of ¥5,000 to ¥30,000 ($35 to $200 or €30 to €185) per month each, with station proximity and building age having the largest impact.
In our property pack covering the real estate market in Japan, we cover what are the best investments a landlord can make.
What renovations get the best ROI for rentals in Japan?
The top five renovations that get the best ROI for rental properties in Japan are refreshing kitchen and bath surfaces, adding or upgrading air conditioning, installing auto-lock entry systems, adding parcel lockers, and improving soundproofing in older wood-frame buildings.
These renovations in Japan typically cost between ¥100,000 and ¥800,000 ($670 to $5,350 or €610 to €4,870) and can justify rent increases of ¥5,000 to ¥20,000 ($35 to $135 or €30 to €120) per month.
Renovations that tend to have poor ROI in Japan include luxury finishes that exceed neighborhood norms, adding rooms by reducing living space, and cosmetic upgrades that do not address core tenant concerns like cleanliness and convenience.
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 strong is rental demand in Japan as of 2026?
What's the vacancy rate for rentals in Japan as of 2026?
As of January 2026, Japan's official nationwide housing vacancy rate is around 13.8%, but the practical rental vacancy rate in liquid urban markets is closer to 8% to 10%, with Tokyo's prime wards running as low as 3% to 5%.
Vacancy rates across different neighborhoods in Japan range from under 5% in central Tokyo's best-connected areas to over 15% in regional towns and areas with older, less desirable housing stock.
The current vacancy rate in Japan's major rental markets is roughly in line with historical averages for urban areas, though the headline national figure has been creeping up due to Japan's aging population and rural depopulation.
Finally please note that you will have all the indicators you need in our property pack covering the real estate market in Japan.
How many days do rentals stay listed in Japan as of 2026?
As of January 2026, rentals in Japan stay listed for an average of about 3 to 4 weeks nationwide, though this varies significantly by location and property quality.
The realistic range for days on market across Japan spans from 7 to 21 days for well-priced units in top Tokyo wards to 6 to 10 weeks or more for older or poorly located properties.
Compared to one year ago, days-on-market figures in Japan's major cities have remained stable or slightly improved, reflecting continued strong demand in prime locations despite the overall vacancy picture.
Which months have peak tenant demand in Japan?
The peak months for tenant demand in Japan are February through April, when the country experiences a rush of moves driven by the start of the fiscal year and school year in April.
This seasonal pattern in Japan is driven by company job transfers (which typically take effect in April), new graduates entering the workforce, and students moving for university, all concentrated in a narrow window.
The months with the lowest tenant demand in Japan are generally late May through August, after the spring rush settles, and then December, when most people avoid moving during the year-end holidays.
Buying real estate in Japan can be risky
An increasing number of foreign investors are showing interest. However, 90% of them will make mistakes. Avoid the pitfalls with our comprehensive guide.
What will my monthly costs be in Japan as of 2026?
What property taxes should landlords expect in Japan as of 2026?
As of January 2026, landlords in Japan should expect to pay annual property taxes of around 1.4% to 1.7% of the assessed property value, which is typically lower than market value.
For a property assessed at ¥20 million, this translates to roughly ¥280,000 to ¥340,000 ($1,870 to $2,270 or €1,705 to €2,070) per year, though actual amounts vary by municipality and property type.
Property taxes in Japan are calculated based on the Fixed Asset Tax (standard rate of 1.4%) plus the City Planning Tax (up to 0.3% in applicable urban zones), both applied to the locally assessed value rather than the purchase price.
Please note that, in our property pack covering the real estate market in Japan, we cover what exemptions or deductions may be available to reduce property taxes for landlords.
What maintenance budget per year is realistic in Japan right now?
A realistic annual maintenance budget for a typical rental property in Japan is around ¥150,000 to ¥350,000 ($1,000 to $2,340 or €915 to €2,130), depending on unit size and building age.
Maintenance costs in Japan can range from about ¥120,000 ($800 or €730) per year for a newer studio to ¥450,000 ($3,000 or €2,740) or more for an older family-sized apartment requiring more upkeep.
Landlords in Japan typically set aside around 5% to 10% of annual rental income for maintenance, which includes building management fees, repair reserve contributions, and in-unit fixes between tenants.
What utilities do landlords often pay in Japan right now?
In Japan, landlords most commonly pay for common-area utilities through building management fees, and occasionally include internet if the unit is marketed as "internet included."
When landlords do cover internet in Japan, the typical monthly cost is around ¥3,000 to ¥5,000 ($20 to $35 or €18 to €30), while common-area utilities are bundled into management fees that can range from ¥5,000 to ¥20,000 ($35 to $135 or €30 to €120) per month.
The common practice in Japan is for tenants to pay their own electricity, gas, and water directly to utility companies, while landlords handle building-level costs through the monthly management fee structure.
How is rental income taxed in Japan as of 2026?
As of January 2026, rental income in Japan is treated as taxable income and subject to progressive income tax rates that can range from 5% to 45%, plus local inhabitant taxes of around 10%.
Main deductions landlords can claim against rental income in Japan include property depreciation, management fees, repair costs, insurance premiums, loan interest, and property taxes.
A common tax mistake specific to Japan that landlords should avoid is failing to properly withhold taxes when renting to companies or when the landlord is a non-resident, which can trigger penalties from the National Tax Agency.
We cover these mistakes, among others, in our list of risks and pitfalls people face when buying property in Japan.
We made this infographic to show you how property prices in Japan compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
What sources have we used to write this blog article?
Whether it's in our blog articles or the market analyses included in our property pack about Japan, we always rely on the strongest methodology we can ... and we don't throw out numbers at random.
We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.
| Source | Why it's authoritative | How we used it |
|---|---|---|
| Statistics Bureau of Japan - Housing and Land Survey | It's Japan's official housing survey, produced under the national statistics system. | We use it as the official anchor for what rents and vacancies look like nationwide. We treat it as the baseline and then adjust with market data for 2025-2026. |
| e-Stat - Official Statistics of Japan | e-Stat is the official government portal where survey tables are published and archived. | We use it to verify the exact definition of monthly rent in official tables. We use its structure to map studio, 1-bed, and 2-bed to Japan's common size bands. |
| Savills Japan - Tokyo Residential Leasing Q1 2025 | Savills is a major global real estate consultancy with a published research methodology. | We use it to anchor Tokyo 23-ward rent-per-sqm levels and recent growth rates. We then carry that forward to January 2026 with a conservative extrapolation. |
| Savills - Tokyo Residential Leasing PDF Q1 2025 | The PDF provides definitional details on unit types, size caps, building age, and station distance. | We use it to ensure we're not mixing prime new buildings with the broader mass market. We reference its rent-per-sqm benchmark as a premium Tokyo indicator. |
| Savills - Tokyo Residential Leasing PDF Q3 2025 | It's the same research series, updated later in 2025. | We use it to confirm that Tokyo rent growth remained firm through 2025. We treat it as a cross-check against the earlier 2025 print. |
| REINS - Real Estate Information Network System | REINS is the industry infrastructure body for transaction and listing statistics in Japan. | We use it as the authoritative place to source market watch indicators for listing activity. We use it mainly for triangulation when discussing time-to-let and seasonality. |
| JETRO - Taxes in Japan | JETRO is a government-related organization and its tax explainers are built for practical accuracy. | We use it to anchor which recurring ownership taxes exist for property in Japan. We then translate that into a simple landlord budget line-item. |
| National Tax Agency Japan - Rental Income Guidance | This is Japan's tax authority explaining how rental income is treated in practice. | We use it to describe how withholding can work when rent is paid to non-resident landlords. We use it to keep the tax on rental income section precise. |
| PwC Worldwide Tax Summaries - Japan | PwC is a major global tax advisory firm and the summary is maintained and date-stamped. | We use it as a cross-check on how Japan classifies rental real estate income at a high level. We use it to support the deductible expenses explanation in plain language. |
| Reuters - Japan Land Prices | Reuters is a major wire service and this item is based on the government land price survey. | We use it to explain why well-located housing stays expensive even when Japan has vacant homes overall. We use it as macro context for 2026 rent outlook. |
| Japan Economic Foundation - Economic Indicators | It clearly cites Japan's official Housing and Land Survey numbers in a digestible form. | We use it to pull the nationwide headline vacancy rate without ambiguity. We then explain why vacant homes do not equal easy rentals in big cities. |
| LIFULL HOME'S - Market Report | LIFULL HOME'S is one of Japan's major listing platforms and publishes standardized monthly reports. | We use it as a private-sector advertised rent pulse for Greater Tokyo. We use it to triangulate directionally with consultancy research rather than replacing official stats. |
| Patience Realty - Market Commentary | Patience Realty is a Japan-focused agency that provides regular market updates for investors. | We use it to verify utility responsibility norms and leasing conventions. We use it for additional market color on Tokyo and Fukuoka rent trends. |
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