Authored by the expert who managed and guided the team behind the South Korea Property Pack
Everything you need to know before buying real estate is included in our South Korea Property Pack
If you're thinking about investing in Incheon's rental market, understanding what kind of return you can realistically expect is essential before putting your money down.
This guide breaks down the actual rental yields across Incheon's neighborhoods and property types, so you can make an informed decision based on real numbers rather than guesswork.
We constantly update this blog post to reflect the latest market conditions in Incheon.
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 Incheon.
Insights
- Incheon's citywide gross rental yield sits around 3.6% in early 2026, which is notably higher than Seoul's compressed yields because property prices here haven't climbed as aggressively while rents remain supported by Songdo's corporate base and airport logistics jobs.
- The spread between Incheon's highest and lowest yield neighborhoods is dramatic, ranging from about 2.3% in premium Songdo towers to over 5% in transit-rich areas like Bupyeong, meaning location choice can nearly double your return.
- Studios and one-bedroom units in Incheon consistently deliver the strongest gross yields at 4% to 5.2%, outperforming family-sized apartments because smaller-ticket prices meet strong monthly rent demand from young professionals and commuters.
- Incheon landlords should budget around 1.2 percentage points of yield erosion from gross to net, with vacancy and leasing friction eating 0.3% to 0.6%, running costs another 0.3% to 0.7%, and taxes up to 0.4%.
- Vacancy in well-located Incheon properties runs about 4% to 6% annually, translating to roughly two to four weeks empty per year if you price correctly and stay near transit hubs like Bupyeong or Juan stations.
- Bupyeong-gu around Bupyeong Station delivers some of Incheon's best yields at 3.9% to 5% gross because moderate purchase prices meet persistent commuter demand from workers heading into Seoul daily.
- Songdo International City in Yeonsu-gu has Incheon's lowest yields at 2.3% to 3.2% gross, as the international-school vibe and newer towers command premium prices that rents simply cannot match proportionally.
- Korean apartment management fees are publicly disclosed through the K-APT system, allowing Incheon landlords to verify actual building costs before buying rather than relying on seller estimates.
- Brokerage fees for leasing in Incheon follow a legally capped framework, typically running a fraction to one month of rent equivalent, which creates predictable tenant-placement costs for yield calculations.
What are the rental yields in Incheon as of 2026?
What's the average gross rental yield in Incheon as of 2026?
As of early 2026, the average gross rental yield across all residential property types in Incheon sits at approximately 3.6% per year.
Most typical residential properties in Incheon fall within a gross yield range of roughly 3% to 5%, depending on the neighborhood and property type you choose.
Compared to Seoul, where yields are often compressed below 3% due to sky-high prices, Incheon offers a more favorable ratio because purchase prices remain lower while rental demand stays solid thanks to the city's job base.
The single most important factor pushing Incheon's yields to this level is the combination of Songdo's corporate employment, airport and port logistics jobs, and commuter demand from workers traveling into Seoul, all of which keep rents relatively stable even when prices are more affordable than the capital.
What's the average net rental yield in Incheon as of 2026?
As of early 2026, the average net rental yield for residential properties in Incheon comes in at approximately 2.4% per year after accounting for all typical landlord expenses.
The gap between gross and net yields in Incheon typically runs about 1.2 percentage points, which reflects the real cost of owning and managing a rental property here.
The expense category that most significantly reduces your gross yield in Incheon is the combination of vacancy and leasing friction, which together can eat up 0.3% to 0.6% of property value annually, followed closely by ongoing maintenance and repair reserves.
Most standard investment properties in Incheon deliver net yields in the 1.8% to 3% range, with the variation depending mainly on how well you manage vacancy and whether your building has predictable maintenance costs through its management disclosure system.
By the way, you will find much more detailed rent ranges in our property pack covering the real estate market in Incheon.
We made this infographic to show you how property prices in South Korea 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 yield is considered "good" in Incheon in 2026?
A gross rental yield of 4% or higher is generally considered "good" by local investors in Incheon, as it indicates you're either buying efficiently or targeting neighborhoods with strong renter demand relative to price.
The threshold that separates average-performing properties from high-performing ones in Incheon is roughly 4% gross and 2.8% net, which means you're clearing a meaningful margin above the citywide average and compensating yourself for the hassle and uncertainty of being a landlord.
How much do yields vary by neighborhood in Incheon as of 2026?
As of early 2026, the spread in gross rental yields between Incheon's highest-yield and lowest-yield neighborhoods is substantial, ranging from about 2.3% to over 5%.
The neighborhoods that typically deliver the highest rental yields in Incheon are working-class areas with good transit access and moderate purchase prices, such as Bupyeong-gu around Bupyeong Station, Michuhol-gu near Juan Station, and Gyeyang-gu around the Gyeyang and Imhak areas.
On the other end, the lowest yields tend to appear in prestige new-city developments where prices have run ahead of rents, particularly Songdo International City in Yeonsu-gu and Cheongna International City in Seo-gu.
The main reason yields vary so much across Incheon neighborhoods is the gap between purchase price premiums, which reflect lifestyle and newness, and actual rents, which are driven more by practical tenant demand for location and convenience.
By the way, we've written a blog article detailing what are the current best areas to invest in property in Incheon.
How much do yields vary by property type in Incheon as of 2026?
As of early 2026, gross rental yields in Incheon range from about 3% to 6% depending on the property type, with compact units at the high end and standard family apartments at the lower end.
The property type that currently delivers the highest average gross yield in Incheon is villas and low-rise multi-family buildings, which can reach 4% to 6%, though studios and one-bedroom officetels follow closely at 4% to 5.2%.
Standard family-sized apartments tend to deliver the lowest gross yields in Incheon, typically falling in the 3% to 4.2% range, because their higher purchase prices reflect owner-occupier demand rather than pure rental economics.
The key reason yields differ between property types in Incheon is that smaller units command relatively higher rents per square meter from convenience-seeking tenants, while family apartments carry price premiums for space and amenities that rents don't fully offset.
By the way, you might want to read the following:
What's the typical vacancy rate in Incheon as of 2026?
As of early 2026, the typical residential vacancy rate for investor-owned properties in Incheon runs about 4% to 6% when you price correctly and buy near transit or employment nodes.
Across different neighborhoods in Incheon, vacancy rates can range from under 3% in high-demand areas near major stations to over 8% in older buildings with weak transit access or dated interiors.
The main factor that currently drives vacancy rates up or down in Incheon is proximity to rail stations and job centers, with properties near Bupyeong Station, Juan Station, or Songdo's business district filling much faster than those in isolated pockets.
Compared to national averages, Incheon's vacancy sits in a moderate range, helped by the city's role as a jobs hub for airport logistics and its function as a more affordable alternative to Seoul for commuters.
Finally please note that you will have all the indicators you need in our property pack covering the real estate market in Incheon.
What's the rent-to-price ratio in Incheon as of 2026?
As of early 2026, the average rent-to-price ratio for residential properties in Incheon is approximately 0.30% per month, which translates to the roughly 3.6% annual gross yield mentioned earlier.
A rent-to-price ratio above 0.33% monthly, or roughly 4% annually, is generally considered favorable for buy-to-let investors in Incheon because it directly corresponds to a gross yield that clears the "good" threshold and leaves room for expenses.
Compared to Seoul, where rent-to-price ratios often fall below 0.25% monthly due to extreme price appreciation, Incheon offers a more attractive ratio for income-focused investors, though it still trails some secondary Korean cities where prices are even lower.
We have made this infographic to give you a quick and clear snapshot of the property market in South Korea. 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 and micro-areas in Incheon give the best yields as of 2026?
Where are the highest-yield areas in Incheon as of 2026?
As of early 2026, the top three highest-yield areas in Incheon are Bupyeong-gu around Bupyeong Station and the market district, Michuhol-gu near Juan Station and Juan-dong, and Gyeyang-gu around the Gyeyang and Imhak station areas.
In these top-performing areas, gross rental yields typically range from 3.8% to 5%, with some well-bought properties in Bupyeong and Juan reaching above 5% when purchase prices are particularly favorable.
The main characteristic these high-yield areas share is the combination of moderate purchase prices and steady everyday renter demand, driven by excellent transit access, local shopping convenience, and a large base of commuters who work in Seoul or central Incheon.
You'll find a much more detailed analysis of the areas with high profitability potential in our property pack covering the real estate market in Incheon.
Where are the lowest-yield areas in Incheon as of 2026?
As of early 2026, the lowest-yield areas in Incheon are Songdo International City in Yeonsu-gu, Cheongna International City in Seo-gu, and select premium tower complexes in newer development zones across the city.
In these low-yield areas, gross rental yields typically range from just 2.3% to 3.7%, with Songdo's prime international business district towers often sitting at the very bottom of that range.
The main reason yields are compressed in these areas is that purchase prices embed a strong lifestyle and newness premium, including international schools, modern amenities, and planned-community appeal, that rents simply cannot match proportionally.
Buying a property in a low-yield area is one of the mistakes we cover in our list of risks and pitfalls people face when buying property in Incheon.
Which areas have the lowest vacancy in Incheon as of 2026?
As of early 2026, the neighborhoods with the lowest residential vacancy rates in Incheon are Songdo in Yeonsu-gu, the Bupyeong Station area in Bupyeong-gu, and the Juan Station corridor in Michuhol-gu.
In these low-vacancy areas, vacancy rates typically run between 2% and 4%, meaning landlords can expect their units to sit empty for only one to two weeks per year if priced correctly.
The main demand driver that keeps vacancy low in these areas is their concentration of jobs, transit access, and daily convenience, whether that's Songdo's corporate tenant base, Bupyeong's commuter hub status, or Juan's affordable urban living appeal.
The trade-off investors typically face when targeting these low-vacancy areas is that the lowest-vacancy spots, especially Songdo, often come with compressed yields because strong demand has already pushed purchase prices up significantly.
Which areas have the most renter demand in Incheon right now?
The three neighborhoods currently experiencing the strongest renter demand in Incheon are Songdo in Yeonsu-gu for its international business district appeal, Bupyeong in Bupyeong-gu for pure commuter convenience, and areas near Inha University in Michuhol-gu for student and young professional housing.
The renter profiles driving most of the demand in these areas are corporate employees and expats in Songdo, Seoul-bound commuters and retail workers in Bupyeong, and university students plus hospital staff near the Inha University influence zone.
In these high-demand neighborhoods, well-priced rental listings typically get filled within one to three weeks, with desirable units near major stations or in newer buildings often receiving multiple inquiries within days of listing.
If you want to optimize your cashflow, you can read our complete guide on how to buy and rent out in Incheon.
Which upcoming projects could boost rents and rental yields in Incheon as of 2026?
As of early 2026, the top three upcoming projects expected to boost rents in Incheon are continued commercial and office expansion in Songdo's international business district, the ongoing build-out of Cheongna and Geomdan new towns with added retail and schools, and improvements to airport and logistics corridors that strengthen worker inflow.
The neighborhoods most likely to benefit from these projects are Songdo in Yeonsu-gu as its business district matures, Cheongna and Geomdan areas in Seo-gu as infrastructure fills in, and transit-adjacent pockets in Gyeyang-gu and Namdong-gu that gain from improved connectivity.
Once these projects are completed, investors might realistically expect rent increases in the 5% to 15% range over a three to five year period in directly affected micro-areas, though gains depend heavily on how much new supply arrives alongside the infrastructure improvements.
You'll find our latest property market analysis about Incheon here.
Get fresh and reliable information about the market in Incheon
Don't base significant investment decisions on outdated data. Get updated and accurate information with our guide.
What property type should I buy for renting in Incheon as of 2026?
Between studios and larger units in Incheon, which performs best in 2026?
As of early 2026, studios and one-bedroom units outperform larger units in terms of rental yield in Incheon, while family-sized apartments offer better stability and easier resale.
Studios in Incheon typically deliver gross yields of 4% to 5.2% (roughly ₩16 million to ₩26 million annually on a ₩400 million property, or about $11,000 to $18,000 USD / €10,000 to €17,000 EUR), compared to 3% to 4.2% for two to three bedroom apartments.
The main factor that explains why studios outperform is that smaller-ticket purchase prices meet strong monthly rent demand from young professionals, commuters, and single-person households who prioritize location over space.
However, larger units might actually be the better investment choice if you're targeting family tenants who stay longer, want lower turnover costs, or prefer the deeper resale market that family-sized apartments enjoy in Incheon's established residential districts.
What property types are in most demand in Incheon as of 2026?
As of early 2026, modern apartments near rail and transit nodes are the most in-demand property type in Incheon, attracting the broadest pool of both renters and future buyers.
The top three property types ranked by current tenant demand in Incheon are modern apartments near major stations, studios and one-bedrooms in business nodes like Songdo and Bupyeong, and affordable villas in inner districts for price-sensitive renters.
The primary trend driving this demand pattern is the growing number of single-person and small households in Incheon, combined with commuters who prioritize transit access to Seoul over square footage.
One property type that is currently underperforming in demand and likely to remain so is detached houses, which appeal to a narrower tenant pool and face competition from newer apartment complexes that offer more amenities and easier maintenance.
What unit size has the best yield per m² in Incheon as of 2026?
As of early 2026, compact units in the studio to 40 square meter range deliver the best gross rental yield per square meter in Incheon.
For this optimal unit size in Incheon, gross rental yield per square meter typically runs about ₩400,000 to ₩550,000 annually per m² (roughly $280 to $385 USD / €260 to €360 EUR per m²), compared to ₩300,000 to ₩400,000 for larger family units.
The main reason smaller units have better yield per square meter is that renters pay a premium for location and convenience even when the unit is compact, while purchase prices per square meter don't rise proportionally, making the math more favorable for landlords.
By the way, we also have a blog article detailing whether owning an Airbnb rental is profitable in Incheon.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in South Korea 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.
What costs cut my net yield in Incheon as of 2026?
What are typical property taxes and recurring local fees in Incheon as of 2026?
As of early 2026, annual property taxes for a typical rental apartment in Incheon run about 0.1% to 0.4% of property value, which works out to roughly ₩500,000 to ₩2 million (about $350 to $1,400 USD / €330 to €1,300 EUR) for a ₩500 million property.
Beyond property taxes, landlords in Incheon must also budget for local billing items handled through Incheon ETAX and WETAX portals, though for typical residential units these are already captured in the effective holding tax estimate rather than being separate large line items.
Combined, these taxes and fees typically represent about 3% to 10% of gross annual rental income for most Incheon residential properties, depending on the property's assessed value and whether you fall into higher tax brackets for more expensive holdings.
By the way, we cover all the hidden fees and taxes in our property pack covering the real estate market in Incheon.
What insurance, maintenance, and annual repair costs should landlords budget in Incheon right now?
Annual landlord insurance for a typical rental property in Incheon costs roughly ₩200,000 to ₩500,000 (about $140 to $350 USD / €130 to €330 EUR), though many Korean apartment owners rely on building-level coverage plus personal umbrella policies rather than standalone landlord insurance.
For maintenance and repairs, Incheon landlords should budget about 0.5% to 1% of property value annually for apartments and officetels, or ₩2.5 million to ₩5 million (roughly $1,750 to $3,500 USD / €1,650 to €3,300 EUR) on a ₩500 million property, with villas and older buildings requiring closer to 1% to 1.5%.
The repair expense that most commonly catches landlords off guard in Incheon is HVAC system replacement or major plumbing work in older buildings, which can run several million won and isn't always predictable from management fee disclosures.
In total, landlords should realistically budget ₩3 million to ₩6 million annually (about $2,100 to $4,200 USD / €2,000 to €4,000 EUR) for the combined cost of insurance, maintenance, and repairs on a typical Incheon investment property.
Which utilities do landlords typically pay, and what do they cost in Incheon right now?
For standard long-term rentals in Incheon, tenants typically pay all utilities including electricity, gas, water, and monthly building management fees, meaning landlords only cover utilities during vacancy periods or if running a furnished short-term rental.
If you do need to cover utilities during vacancy or for a serviced rental, expect monthly costs of roughly ₩100,000 to ₩250,000 (about $70 to $175 USD / €65 to €165 EUR) for a typical apartment, based on published tariffs from KEPCO for electricity and Incheon Waterworks for water.
What does full-service property management cost, including leasing, in Incheon as of 2026?
As of early 2026, full-service property management in Incheon typically costs about 3% to 7% of monthly rent for ongoing management, which works out to roughly ₩45,000 to ₩105,000 (about $30 to $75 USD / €30 to €70 EUR) on a ₩1.5 million monthly rent.
On top of ongoing management, the leasing or tenant-placement fee in Incheon follows a legally capped brokerage framework, typically running a fraction to one month of rent equivalent, which for a ₩1.5 million monthly rent means roughly ₩500,000 to ₩1.5 million (about $350 to $1,050 USD / €330 to €1,000 EUR) per tenant placement.
What's a realistic vacancy buffer in Incheon as of 2026?
As of early 2026, landlords in Incheon should set aside about 8% of annual rental income as a vacancy buffer, which accounts for turnover time, marketing, and the occasional slow period between tenants.
In practice, most Incheon landlords experience about two to four weeks of vacancy per year if they own well-located properties near transit and price their units competitively, though properties in weaker locations may see longer gaps.
Buying real estate in Incheon 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 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 Incheon, 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 |
|---|---|---|
| Korea Real Estate Board (REB) | It's Korea's official real estate statistics body used by policymakers and the market. | We use REB as the "ground truth" backbone for price and rent trend benchmarks. We cross-check any private-sector numbers against REB before turning them into yield estimates. |
| MOLIT Real Transaction Price System | This is the Ministry of Land's official system for reported real transaction data. | We use it to anchor typical purchase prices by area and district so yield math starts from real deals, not asking prices. We use it as the main price denominator input. |
| KOSIS (Statistics Korea) | It's the national statistics portal run by the Korean government. | We use it for slower-moving fundamentals like housing stock and vacancy-type indicators when available by region. We treat this as the default reference when official city-level numbers exist. |
| KB Financial Group Research | KB is one of Korea's biggest financial groups and a widely cited housing research publisher. | We use KB research to sanity-check REB-based conclusions, especially rent direction and market sentiment. We also use it to interpret what's driving rents in the capital region, including Incheon. |
| KB Think | It's KB's public-facing channel that summarizes how their analysts read the housing cycle. | We use it to explain why yields are moving in plain terms. We use it as a narrative cross-check against the harder datasets. |
| Incheon Metropolitan City (Tax Overview) | It's the official city government source for local tax direction and where to pay or ask questions. | We use it to confirm which taxes are local versus national and where landlords actually interact with the system. We use it to keep the net yield cost list locally grounded. |
| Incheon ETAX | It's Incheon's official electronic portal for local tax payment and notices. | We use it as the practical reference point for recurring local taxes and billing. We use it to avoid vague Korea-only statements when talking about Incheon specifically. |
| WETAX | It's the nationwide portal for local tax filing and payment across Korea. | We use it to frame recurring owner taxes as standardized nationwide local tax items. We use it to explain net yield owner holding cost mechanics simply. |
| National Tax Service (NTS) | It's Korea's tax authority, so it's the reference for rental income taxation and compliance. | We use it to map what part of net yield is tax on rental income versus property holding taxes. We use it to keep landlord budgeting realistic for January 2026. |
| NTS Foreign Taxpayers' Guide | It's an official NTS publication designed to answer practical tax questions. | We use it to support the what taxes reduce net yield section with an official reference. We use it to avoid hand-wavy statements around rental income reporting. |
| K-APT Management Fee System | It's the official disclosure system for apartment management fees in Korea. | We use it to ground ongoing building costs in real disclosed data. We use it to explain why apartments often have predictable running costs in Incheon. |
| K-APT Regional Statistics | It's the same official system presented as usable regional averages. | We use it to estimate a realistic maintenance plus common charges line item for net yield. We use it as the main source for recurring building-level cost ranges. |
| KEPCO Electric Rates | KEPCO is the national electricity utility, and this is its published tariff table. | We use it to explain what utilities can cost if a landlord covers them during vacancy or for serviced rentals. We use it to keep utility budgeting tied to published rates. |
| Incheon Waterworks Tariffs | It's the official Incheon water tariff schedule published by the city waterworks. | We use it to anchor the water costs part of utilities with a city-specific reference. We use it to show that utility costs are not just guesses. |
| Seoul Metropolitan Government Brokerage Guide | It clearly cites the national legal basis and gives the fee cap tables in plain English. | We use it to estimate leasing and renewal friction costs that affect net yield over time. We use it as a legal and consumer-facing reference applicable across Korea including Incheon. |
Get the full checklist for your due diligence in Incheon
Don't repeat the same mistakes others have made before you. Make sure everything is in order before signing your sales contract.
Related blog posts