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Incheon offers foreign apartment investors gross rental yields around 3.3% in early 2026, with net yields closer to 2.2% after taxes and costs.
We constantly update this blog post so you always have the freshest data on Incheon rental yields.
This guide breaks down exactly what rents you can charge, which neighborhoods perform best, and what costs will eat into your returns.
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.
What rental yields can I realistically get from an apartment in Incheon?
What's the average gross rental yield for apartments in Incheon as of 2026?
As of early 2026, the average gross rental yield for apartments in Incheon sits around 3.3%, which is fairly typical for a large South Korean city where the deposit-heavy rental culture keeps cash yields modest compared to Western markets.
The realistic range for most apartment investments in Incheon spans from 2.6% to 4.2%, depending on factors like building age, district, and unit size.
The main factor that causes gross yields to vary significantly in Incheon is the local rental structure itself: apartments priced in popular new-town areas like Songdo often see purchase prices run ahead of achievable rents, compressing yields, while older stock in transit-connected areas like Bupyeong holds rent better relative to price.
Compared to Seoul, where gross yields often hover around 2% to 3%, Incheon apartments tend to offer slightly better returns because purchase prices are lower while rents stay competitive thanks to strong commuter demand and business district employment nodes.
What's the average net rental yield for apartments in Incheon as of 2026?
As of early 2026, the average net rental yield for apartments in Incheon comes in around 2.2%, which reflects the reality that taxes, vacancy, and maintenance chip away at your gross returns.
Most apartment investors in Incheon can realistically expect net yields between 1.6% and 3.0%, with the wide range depending on whether you self-manage or outsource and how efficiently you keep vacancies short.
The single biggest expense category that reduces gross yield to net yield for Incheon apartments is the combination of property tax and local surtaxes, which can feel like roughly 4% to 8% of your annual rent depending on the official assessed value of your apartment and your overall property holdings in Korea.
By the way, you will find much more detailed data in our property pack covering the real estate market in Incheon.
What's the typical rent-to-price ratio for apartments in Incheon in 2026?
As of early 2026, the typical rent-to-price ratio for apartments in Incheon runs around 3.3% annually, which translates to roughly 0.275% of your purchase price per month in gross-equivalent rent.
The realistic range for most apartment transactions in Incheon falls between 2.6% and 4.2% annually, meaning if you buy an apartment for 500 million won, you can expect somewhere between 1.1 million and 1.75 million won per month in gross rent equivalent.
Apartment categories and neighborhoods in Incheon with the highest rent-to-price ratios tend to be compact units near major transit hubs like Bupyeong Station or in older but well-connected parts of Michuhol-gu, where purchase prices stay moderate but commuter renter demand remains strong.
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How much rent can I charge for an apartment in Incheon?
What's the typical tenant budget range for apartments in Incheon right now?
The typical monthly tenant budget for renting an apartment in Incheon in early 2026 ranges from about 700,000 to 1,500,000 won (roughly 480 to 1,030 USD or 450 to 970 EUR) for the mass market, not including the upfront deposit that is standard in Korean leases.
Tenants targeting mid-range apartments in Incheon generally budget between 900,000 and 1,200,000 won per month (around 620 to 830 USD or 580 to 770 EUR), which typically gets you a decent two-bedroom in a reasonably modern building near transit.
Those seeking high-end or luxury apartments in Incheon, particularly in premium areas like Songdo or Cheongna, should expect to pay 1,500,000 to 2,000,000 won per month (approximately 1,030 to 1,380 USD or 970 to 1,290 EUR) for newer buildings with better amenities and international-school proximity.
We have a blog article where we update the latest data about rents in Incheon here.
What's the average monthly rent for a 1-bed apartment in Incheon as of 2026?
As of early 2026, the average monthly rent for a 1-bed apartment in Incheon falls between 650,000 and 950,000 won (around 450 to 655 USD or 420 to 610 EUR), assuming a standard wolse lease with a moderate deposit.
At the entry level, a decent 1-bed apartment in Incheon rents for around 650,000 to 750,000 won per month (roughly 450 to 520 USD or 420 to 480 EUR), which typically means older stock in areas like parts of Bupyeong-gu or Michuhol-gu, often a 10 to 15 minute walk from a subway station.
A typical mid-range 1-bed in Incheon goes for 750,000 to 850,000 won per month (about 520 to 585 USD or 480 to 550 EUR), and this usually gets you a unit in a building less than 15 years old with decent security, elevator access, and a short walk to transit in neighborhoods like Guwol-dong or Gyesan-dong.
High-end 1-bed apartments in Incheon, particularly in Songdo or Cheongna new-town areas, command 900,000 to 1,100,000 won per month (approximately 620 to 760 USD or 580 to 710 EUR), offering newer construction, better views, fitness facilities, and proximity to international schools or business districts.
What's the average monthly rent for a 2-bed apartment in Incheon as of 2026?
As of early 2026, the average monthly rent for a 2-bed apartment in Incheon ranges from 900,000 to 1,350,000 won (roughly 620 to 930 USD or 580 to 870 EUR), making this size the sweet spot for young couples, small families, and corporate tenants.
Entry-level 2-bed apartments in Incheon rent for around 900,000 to 1,050,000 won per month (about 620 to 720 USD or 580 to 680 EUR), typically found in older buildings in Bupyeong-gu or Juan-dong areas, often with basic finishes but functional layouts and reasonable transit access.
Mid-range 2-bed apartments in Incheon go for 1,050,000 to 1,200,000 won per month (approximately 720 to 830 USD or 680 to 770 EUR), and these are usually in buildings under 20 years old in areas like Namdong-gu or Gyeyang-gu, with underground parking, security cameras, and a 5 to 10 minute walk to a subway line.
High-end 2-bed apartments in Incheon, especially in the Songdo business district or prime Cheongna blocks, command 1,350,000 to 1,600,000 won per month (around 930 to 1,100 USD or 870 to 1,030 EUR), featuring modern construction, concierge-style management, and family-friendly amenities.
What's the average monthly rent for a 3-bed apartment in Incheon as of 2026?
As of early 2026, the average monthly rent for a 3-bed apartment in Incheon falls between 1,200,000 and 1,800,000 won (roughly 830 to 1,240 USD or 770 to 1,160 EUR), though pricing varies widely based on school zones and building quality.
Entry-level 3-bed apartments in Incheon rent for around 1,200,000 to 1,400,000 won per month (about 830 to 965 USD or 770 to 900 EUR), typically in older complexes in Michuhol-gu or outer Bupyeong areas, often with dated interiors but adequate space for families willing to trade newness for affordability.
Mid-range 3-bed apartments in Incheon go for 1,400,000 to 1,600,000 won per month (approximately 965 to 1,100 USD or 900 to 1,030 EUR), usually in established family neighborhoods like Guwol-dong or parts of Seo-gu, with reliable heating, good parking, and proximity to schools.
High-end 3-bed apartments in Incheon, particularly in top school zones within Songdo or branded new-town developments in Cheongna, command 1,800,000 to 2,200,000 won per month (around 1,240 to 1,520 USD or 1,160 to 1,420 EUR), offering premium finishes, building amenities, and the "address prestige" that Korean families value.
How fast do well-priced apartments get rented in Incheon?
A well-priced apartment in Incheon typically rents within 2 to 4 weeks in hot submarkets like Songdo, Cheongna, or near major stations, while average areas take closer to 4 to 6 weeks.
The typical vacancy rate for apartments in Incheon hovers around 3% to 5% in most neighborhoods, though this can spike higher in overbuilt new-town edges or drop lower near established transit and employment nodes.
The main factors that cause some Incheon apartments to rent faster than others are proximity to subway lines (especially Line 1, Incheon Metro, and AREX airport express), walkability to business district job nodes like Songdo's office cluster, and whether the building has straightforward parking since most Incheon tenants own cars.
And if you want to know what should be the right price, check our latest update on how much an apartment should cost 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.
Which apartment type gives the best yield in Incheon?
Which is better for yield between studios, 1-bed, 2-bed and 3-bed apartments in Incheon as of 2026?
As of early 2026, studios and compact 1-bed apartments typically offer the best rental yields in Incheon, outperforming larger units because smaller apartments hold their rent-per-square-meter better relative to purchase price.
The typical gross rental yield ranges by apartment type in Incheon are: studios at 3.6% to 4.6%, standard 1-beds at 3.3% to 4.2%, 2-beds at 2.9% to 3.6%, and 3-beds at 2.4% to 3.2%.
The main reason smaller units outperform in Incheon is the city's strong commuter and early-career renter demand around transit stations and industrial or business nodes, and these tenants are more payment-sensitive, which keeps smaller unit rents "tighter" against prices while larger family apartments in premium areas like Songdo see purchase prices run ahead of achievable rents.
Which features are best if you want a good yield for your apartment in Incheon?
The top features that most positively impact rental yield for apartments in Incheon are walkability to rail transit (Line 1, Incheon Subway, or AREX), proximity to job nodes like Songdo business district or Bupyeong commercial hub, and newer build quality without trophy pricing, meaning "good new-town edge" locations rather than the most famous branded blocks.
In Incheon's high-rise apartment market, middle floors (roughly 5th to 15th) tend to rent fastest because they balance good natural light and views with lower prices than top floors, while ground and very low floors can sit longer due to privacy concerns and street noise.
Apartments with balconies or enclosed sun rooms (which are common in Korean buildings) do command slightly higher rents in Incheon, but the premium is modest, around 3% to 5%, so it matters more for tenant appeal than for dramatically boosting your yield.
Building features like underground parking, CCTV security, and elevators are essentially expected in Incheon rather than premium add-ons, so they help you avoid discounts rather than command premiums, while concierge services in upscale Songdo towers justify higher service charges but often attract tenants willing to pay more anyway.
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Which neighborhoods give the best rental demand for apartments in Incheon?
Which neighborhoods have the highest rental demand for apartments in Incheon as of 2026?
As of early 2026, the neighborhoods with the highest rental demand for apartments in Incheon are Songdo-dong in Yeonsu-gu, Cheongna-dong in Seo-gu, Bupyeong-dong near Bupyeong Station, Guwol-dong in Namdong-gu, and Unseo-dong on Yeongjongdo island near the airport.
The main demand driver that makes these neighborhoods attractive to tenants in Incheon is concentrated employment: Songdo draws office workers and expats tied to its business district and international schools, Bupyeong pulls commuters thanks to its transit hub status, and Unseo-dong serves airport-linked workers on rotating schedules.
In these high-demand Incheon neighborhoods, well-priced apartments typically rent within 2 to 4 weeks, and vacancy rates stay around 2% to 4%, noticeably tighter than the citywide average.
One emerging neighborhood gaining rental demand momentum in Incheon is Gyeyang-gu around Gyesan-dong, where new subway connectivity improvements and more affordable pricing compared to Songdo are pulling younger renters priced out of premium areas.
By the way, we've written a blog article detailing what are the current best areas to invest in property in Incheon.
Which neighborhoods have the highest yields for apartments in Incheon as of 2026?
As of early 2026, the neighborhoods with the highest rental yields for apartments in Incheon are Bupyeong-gu around Bupyeong Station and Market areas, Michuhol-gu in parts of Juan-dong and Dohwa-dong, Gyeyang-gu around Gyesan-dong, and selected pockets of Namdong-gu near transit but away from the priciest new builds.
The typical gross rental yield range in these top-yielding Incheon neighborhoods runs from 3.5% to 4.5%, compared to the citywide average of around 3.3% and the compressed yields of 2.5% to 3.0% you often see in premium Songdo or Cheongna blocks.
The main reason these neighborhoods offer higher yields than others in Incheon is that purchase prices stay moderate due to older building stock and less "new-town branding," while rents remain competitive because strong transit connections and established commercial activity keep the renter pool deep and steady.
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of South Korea. As you can see, it breaks down price ranges and property types for popular cities in the country. We hope this makes it easier to explore your options and understand the market.
Should I do long-term rental or short-term rental in Incheon?
Is short-term rental legal for apartments in Incheon as of 2026?
As of early 2026, short-term rentals for residential apartments in Incheon exist in a gray area where renting out an entire apartment for frequent nightly stays typically requires tourism accommodation licensing or registration under Korea's tourism framework, which most individual apartment owners do not have.
The main legal restrictions for operating a short-term rental apartment in Incheon include needing to register as a tourism accommodation business under the Tourism Promotion Act, meeting health and safety standards, and potentially facing building-level restrictions since many apartment complexes prohibit commercial short-stay use in their management rules.
For Airbnb-style rentals in Incheon, the most accessible legal path for individuals is the registered homestay model where you live in the property and rent out rooms, but running a fully investor-owned apartment as a nightly rental without proper licensing puts you at risk of fines and enforcement action.
By the way, we also have a blog article detailing whether owning an Airbnb rental is profitable in Incheon.
What's the gross yield difference short-term vs long-term in Incheon in 2026?
As of early 2026, the gross yield difference between short-term and long-term rentals for apartments in Incheon can be meaningful on paper, with legal and well-operated short-term rentals potentially reaching 4.5% to 6.0% gross compared to the typical 3.3% gross for long-term wolse leases.
The typical gross yield range for short-term rentals in Incheon is 4.5% to 6.0% if you achieve strong occupancy, while long-term rentals reliably deliver 2.6% to 4.2% gross depending on location and unit type.
The main additional costs that reduce the net yield advantage of short-term rentals in Incheon include cleaning fees between guests, platform commissions (typically 3% to 15% of booking revenue), higher utility consumption, faster furniture and appliance wear, and the management intensity of handling bookings and guest communication.
To outperform a long-term rental in Incheon, a short-term rental typically needs to achieve at least 55% to 65% annual occupancy, which can be challenging given seasonal tourism patterns and the fact that Incheon is not a primary tourist destination like Seoul or Busan.
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What costs will eat into my net yield for an apartment in Incheon?
What are building service charges as a % of rent in Incheon as of 2026?
As of early 2026, the typical building service charge (called gwanlibi in Korean) for apartments in Incheon runs around 10% to 20% of monthly rent, which translates to roughly 70,000 to 200,000 won (about 50 to 140 USD or 45 to 130 EUR) depending on building amenities and unit size.
The realistic range of building service charges for most Incheon apartments spans from 8% of rent for basic older buildings to 25% for premium complexes with extensive shared facilities, though tenants typically pay this directly rather than landlords absorbing it.
Services that justify higher-than-average service charges in Incheon include heated underground parking (important during cold winters), fitness centers, community halls, and concierge or security guard stations, which are common in Songdo's international-style towers and Cheongna's family-oriented new-town complexes.
What annual maintenance budget should I assume for an apartment in Incheon right now?
The typical annual maintenance budget that apartment owners should assume in Incheon is around 0.3% to 0.6% of property value, which for a 500 million won apartment means budgeting roughly 1.5 to 3 million won per year (about 1,030 to 2,070 USD or 970 to 1,940 EUR).
The realistic range of annual maintenance costs in Incheon depends heavily on apartment age: newer buildings (under 10 years old) might need only 0.2% to 0.4% of property value, while older stock (20+ years) can require 0.5% to 0.8% as systems age and tenant expectations for refreshed finishes increase between lease cycles.
The most common maintenance expenses Incheon apartment owners face annually include appliance replacements (especially air conditioning units that work hard during humid summers), ondol underfloor heating repairs, repainting between tenants, and minor plumbing fixes related to Korea's hard water, which can wear out fixtures faster than owners expect.
What property taxes should I expect for an apartment in Incheon as of 2026?
As of early 2026, the typical annual property tax for apartments in Incheon runs around 0.15% to 0.35% of the official assessed tax base (not your purchase price), which for a mid-market apartment often translates to roughly 750,000 to 1,750,000 won per year (about 520 to 1,210 USD or 480 to 1,130 EUR).
The realistic range of property taxes in Incheon varies from around 500,000 won per year for modest apartments in Michuhol-gu or Bupyeong-gu up to 3 million won or more for higher-value properties in Songdo, depending on the official assessed value and whether you own multiple homes in Korea.
Property taxes for Incheon apartments are calculated based on the officially assessed value posted by the government (which you can check on the RealtyPrice portal), not your actual purchase price, and this assessed value is typically 50% to 70% of market value, which keeps the effective tax rate lower than it might seem.
There are limited property tax exemptions available for apartment owners in Incheon, though first-time homebuyers or those owning only one modest-value home may benefit from lower rates, while multi-home owners face progressively higher comprehensive holding tax rates at the national level.
If you want to go into more details, we also have a blog article detailing all the property taxes and fees in Incheon.
How much does landlord insurance cost for an apartment in Incheon in 2026?
As of early 2026, the typical annual landlord insurance cost for an apartment in Incheon ranges from 100,000 to 250,000 won (roughly 70 to 170 USD or 65 to 160 EUR) for basic coverage protecting against fire, water damage, and liability.
The realistic range of annual landlord insurance costs in Incheon spans from 80,000 won for minimal coverage on a small unit to 400,000 won (about 55 to 275 USD or 50 to 260 EUR) for comprehensive policies on larger apartments that include tenant default protection and extended liability coverage.
What's the typical property management fee for apartments in Incheon as of 2026?
As of early 2026, the typical property management fee for apartments in Incheon runs around 5% to 8% of collected monthly rent, which on a 1 million won per month rental translates to roughly 50,000 to 80,000 won (about 35 to 55 USD or 32 to 52 EUR) monthly.
The realistic range of property management fees in Incheon spans from 5% for basic rent collection and maintenance coordination up to 10% to 12% for full-service management that includes English-language tenant handling, which foreign owners often prefer for convenience.
Services typically included in standard property management fees in Incheon cover tenant finding and screening, lease preparation and renewal handling, rent collection and deposit administration, coordination of repairs with the building management office, and basic communication with tenants about maintenance issues.
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 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 |
|---|---|---|
| Bank of Korea | Official central bank setting interest rates that affect deposit-to-rent economics. | We used the January 2026 base rate to sanity-check rental yield expectations. We also used it to frame why jeonse versus wolse changes your yield math. |
| Local Tax Act (Korean Law Information Center) | Official legal text for local taxes where housing transaction and holding taxes live. | We used it as the anchor for acquisition and holding tax categories. We then translated that into investor-friendly "what to budget" ranges. |
| Incheon Metropolitan City | City's own guidance for residents and foreigners on local taxation. | We used it to confirm foreigners are taxed under the same framework. We also used it to keep explanations specific to Incheon. |
| Housing Lease Protection Act | Core tenant and landlord framework shaping rent increases and lease dynamics. | We used it to frame what's standard in Korea's lease system. We also used it to explain why rent growth is not frictionless. |
| Korea Real Estate Board | Government-affiliated body for nationwide housing price and rent monitoring. | We used it as the baseline public-sector source to triangulate pricing and rent direction. We also validated we weren't relying only on private listing sites. |
| RealtyPrice Portal | Official portal for posted and assessed values that feed into tax calculations. | We used it to anchor the reality that tax base is not your purchase price. We then used it to estimate effective holding-tax bite as a percentage of rent. |
| HOUSTAT (Korea Housing Finance Corp) | Public housing-finance statistics platform documenting income, rates, and prices. | We used it to estimate what typical households can afford. We then used that to cross-check our rent ranges for 1 to 3 bed units. |
| Savills Korea Residential Market Outlook | Major global real estate consultancy with transparent research publications. | We used it for macro context on the shift from jeonse toward monthly rent. We then localized it to Incheon by applying Incheon-specific price and rent levels. |
| PwC Korea Tax Update | Top-tier tax advisory firm summarizing Korea tax changes with statute references. | We used it as a cross-check on how taxes are interpreted in practice. We then kept our article conservative where rules can shift year to year. |
| Tourism Promotion Act (KLRI e-Law) | Official reference for the legal category of tourism accommodation businesses. | We used it to explain why most Airbnb-style short stays require licensing. We then translated that into what a foreign owner can realistically do. |
| EasyLaw (Government Legal Guide) | Government-backed plain-language legal guide for lease administration steps. | We used it to outline practical compliance steps that affect landlord risk. We used it to keep the article low-cognitive-load for non-professional buyers. |
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