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If you're thinking about renting a property in Incheon, you're probably wondering what the actual rental prices look like right now.
In this guide, we break down the current rents in Incheon across different apartment sizes, neighborhoods, and tenant types, so you know exactly what to expect.
We update this article regularly to make sure the numbers stay fresh and reliable.
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
- In Incheon in 2026, most rental contracts require a deposit of ₩5 to 40 million upfront, which significantly lowers your monthly rent compared to deposit-free options.
- Songdo International City commands the highest rents in Incheon, with 2-bedroom apartments often reaching ₩1.6 to 2 million per month due to its international schools and modern infrastructure.
- Incheon rents grew by about 2% year-over-year in early 2026, but neighborhoods like Bupyeong and Namdong stayed closer to flat because of steady new supply.
- Over 60% of new rental contracts in South Korea now use monthly rent (wolse) instead of the traditional large-deposit jeonse system, and Incheon follows this national trend.
- Studios near Bupyeong Station in Incheon rent out in under two weeks on average, making it one of the fastest-moving rental submarkets in the city.
- Expats in Incheon concentrate heavily around Songdo and the Yeongjong airport corridor, where English-speaking services and international amenities are easier to find.
- February and March are peak rental months in Incheon because of Korea's school and job transition calendar, which means more competition and faster-moving listings.
- Landlords in Incheon typically see the best return on investment from kitchen and bathroom refreshes, not from luxury upgrades that overcapitalize the unit.
What are typical rents in Incheon as of 2026?
What's the average monthly rent for a studio in Incheon as of 2026?
As of early 2026, the average monthly rent for a studio apartment in Incheon is around ₩550,000 (approximately $380 USD or €325 EUR).
Most studios in Incheon rent for somewhere between ₩450,000 and ₩700,000 per month ($310 to $485 USD, or €265 to €410 EUR), depending on location and building quality.
The biggest factors that cause studio rents to vary in Incheon are proximity to subway stations like Bupyeong or Guwol, the age and condition of the building, and whether the unit is in a newer development or an older neighborhood.
What's the average monthly rent for a 1-bedroom in Incheon as of 2026?
As of early 2026, the average monthly rent for a 1-bedroom apartment in Incheon is around ₩850,000 (approximately $590 USD or €500 EUR).
Most 1-bedroom apartments in Incheon rent for somewhere between ₩700,000 and ₩1,050,000 per month ($485 to $730 USD, or €410 to €620 EUR), with the range depending on neighborhood and building age.
The cheapest 1-bedroom rents in Incheon tend to be in older areas like Juan-dong or parts of Bupyeong, while the most expensive 1-bedrooms are in Songdo International City, where newer buildings and premium amenities push prices higher.
What's the average monthly rent for a 2-bedroom in Incheon as of 2026?
As of early 2026, the average monthly rent for a 2-bedroom apartment in Incheon is around ₩1,250,000 (approximately $870 USD or €735 EUR).
Most 2-bedroom apartments in Incheon rent for somewhere between ₩1,000,000 and ₩1,600,000 per month ($695 to $1,110 USD, or €590 to €940 EUR), depending on the specific district and building quality.
The cheapest 2-bedroom rents in Incheon are generally found in older neighborhoods like Michuhol-gu, while the most expensive 2-bedrooms are in Songdo International City and Cheongna, where family-sized apartments in newer complexes often reach ₩1.6 to 2 million per month.
By the way, you will find much more detailed rent ranges in our property pack covering the real estate market in Incheon.
What's the average rent per square meter in Incheon as of 2026?
As of early 2026, the average rent per square meter in Incheon is around ₩22,000 per month (approximately $15 USD or €13 EUR per square meter).
Across different neighborhoods in Incheon, the rent per square meter typically ranges from ₩18,000 to ₩28,000 ($12.50 to $19.50 USD, or €10.50 to €16.50 EUR), with premium areas like Songdo at the higher end.
Compared to Seoul, where rent per square meter often exceeds ₩35,000, Incheon offers significantly more affordable options while still providing good access to the capital via subway and bus networks.
In Incheon, properties that push rent per square meter above average are typically newer buildings with good security, those within walking distance of a subway station, or apartments in master-planned communities like Songdo with parks and modern amenities.
How much have rents changed year-over-year in Incheon in 2026?
As of early 2026, rents in Incheon have increased by approximately 2% compared to the same period in 2025, with a realistic range of 0% to 4% depending on district and unit size.
The main factors driving rent changes in Incheon this year include the ongoing shift from jeonse (large deposit) to wolse (monthly rent) contracts, steady demand from Seoul commuters, and localized new supply in areas like Cheongna and Songdo.
This year's rent growth in Incheon is slightly slower than 2024, when some premium submarkets saw increases closer to 3% to 5%, reflecting a more balanced supply-demand picture in early 2026.
What's the outlook for rent growth in Incheon in 2026?
As of early 2026, we expect rents in Incheon to grow by 1% to 4% over the full year, with the base case around 2% to 3%.
The key factors likely to influence rent growth in Incheon include the Bank of Korea's interest rate stance (which affects landlord preference for monthly rent over deposits), continued demand from Seoul commuters seeking value, and the pace of new apartment completions in Incheon's new-town districts.
The neighborhoods expected to see the strongest rent growth in Incheon are Songdo International City and well-connected station areas like Bupyeong, where demand consistently outpaces new supply.
Risks that could push rent growth above or below projections include a faster-than-expected rate cut cycle (which could revive jeonse demand and cool wolse rents) or a large wave of new apartment deliveries that temporarily increases tenant choice in specific districts.
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 rent best in Incheon as of 2026?
Which neighborhoods have the highest rents in Incheon as of 2026?
As of early 2026, the three neighborhoods with the highest average rents in Incheon are Songdo International City in Yeonsu-gu, Cheongna International City in Seo-gu, and the Yeongjong/Unseo area near Incheon International Airport, where 2-bedroom apartments often exceed ₩1.5 million per month ($1,040 USD or €880 EUR).
These neighborhoods command premium rents in Incheon because they combine newer buildings, modern amenities, international schools, parks, and strong transport links to Seoul and the airport.
The tenant profile in these high-rent Incheon neighborhoods typically includes expats, airport-related professionals, dual-income families, and professionals who prioritize lifestyle quality and are willing to pay more for newer, well-managed complexes.
By the way, we've written a blog article detailing what are the current best areas to invest in property in Incheon.
Where do young professionals prefer to rent in Incheon right now?
The three neighborhoods where young professionals prefer to rent in Incheon are Bupyeong (especially around Bupyeong Station), Guwol-dong in Namdong-gu, and Songdo International City in Yeonsu-gu.
Young professionals in these Incheon neighborhoods typically pay between ₩500,000 and ₩900,000 per month ($350 to $625 USD, or €295 to €530 EUR) for studios and 1-bedroom apartments.
These neighborhoods attract young professionals in Incheon because they offer convenient subway access to Seoul, a good selection of cafes and restaurants, and relatively affordable rents compared to living in the capital itself.
By the way, you will find a detailed tenant analysis in our property pack covering the real estate market in Incheon.
Where do families prefer to rent in Incheon right now?
The three neighborhoods where families prefer to rent in Incheon are Songdo International City in Yeonsu-gu, Cheongna International City in Seo-gu, and the Geomdan/Gumdan area in Seo-gu.
Families in these Incheon neighborhoods typically pay between ₩1,200,000 and ₩2,000,000 per month ($830 to $1,390 USD, or €705 to €1,175 EUR) for 2- to 3-bedroom apartments.
These neighborhoods are attractive to families in Incheon because they offer larger apartment layouts, good schools, parks, playgrounds, and a planned-community feel with secure building access and parking.
Top-rated schools and educational options near these family-friendly Incheon neighborhoods include international schools in Songdo (like Chadwick International or Songdo Global Campus schools) and well-regarded Korean public schools in Cheongna and Geomdan.
Which areas near transit or universities rent faster in Incheon in 2026?
As of early 2026, the three areas near transit hubs or universities that rent fastest in Incheon are Bupyeong Station, Juan Station in Michuhol-gu, and the area near Incheon National University in Songdo.
Properties in these high-demand Incheon areas typically stay listed for 10 to 20 days on average, compared to 25 to 35 days in less connected neighborhoods.
The rent premium for properties within walking distance of transit or universities in Incheon is typically ₩50,000 to ₩100,000 per month ($35 to $70 USD, or €30 to €60 EUR) compared to similar units further away.
Which neighborhoods are most popular with expats in Incheon right now?
The three neighborhoods most popular with expats in Incheon are Songdo International City in Yeonsu-gu, the Yeongjong/Unseo area near Incheon International Airport, and Cheongna International City in Seo-gu.
Expats in these Incheon neighborhoods typically pay between ₩1,000,000 and ₩2,000,000 per month ($695 to $1,390 USD, or €590 to €1,175 EUR) for furnished or semi-furnished apartments.
These neighborhoods attract expats in Incheon because they offer international schools, English-friendly services, modern apartments, and easy access to the airport and Seoul.
The nationalities and expat communities most represented in these Incheon neighborhoods include Americans, Canadians, Europeans working for international companies, and professionals from across Asia employed in the airport ecosystem or at multinational firms in Songdo's business district.
And if you are also an expat, you may want to read our exhaustive guide for expats in Incheon.
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Who rents, and what do tenants want in Incheon right now?
What tenant profiles dominate rentals in Incheon?
The three tenant profiles that dominate the rental market in Incheon are Seoul/Gyeonggi commuters looking for more affordable housing, young singles and couples near transit hubs, and families in new-town apartment complexes like Songdo and Cheongna.
Commuters make up roughly 40% of renters in Incheon, while young singles and couples represent about 30%, and families account for the remaining 30%, though these shares vary by neighborhood.
Commuters typically seek 1- to 2-bedroom apartments near subway stations, young singles focus on studios and small 1-bedrooms with good nightlife access, and families look for 2- to 3-bedroom units in newer complexes with schools and parks nearby.
If you want to optimize your cashflow, you can read our complete guide on how to buy and rent out in Incheon.
Do tenants prefer furnished or unfurnished in Incheon?
In Incheon, approximately 70% to 75% of tenants rent unfurnished apartments (the Korean standard), while 25% to 30% prefer furnished or semi-furnished units, especially for shorter stays or expat rentals.
The typical rent premium for a furnished apartment in Incheon compared to unfurnished is around ₩100,000 to ₩200,000 per month ($70 to $140 USD, or €60 to €120 EUR), depending on the quality of furnishings.
Tenants who prefer furnished rentals in Incheon are typically expats, airport-linked workers, and short-term renters who want to avoid the upfront cost and hassle of buying appliances and furniture.
Which amenities increase rent the most in Incheon?
The five amenities that increase rent the most in Incheon are proximity to a subway station (within 10-minute walk), secure building access with CCTV and lobby security, dedicated parking spaces, newer building age (under 10 years), and in-unit washer/dryer and air conditioning.
In Incheon, subway proximity typically adds ₩50,000 to ₩100,000 per month ($35 to $70 USD, or €30 to €60 EUR), while secure modern buildings and parking can each add ₩30,000 to ₩70,000 per month ($20 to $50 USD, or €18 to €40 EUR) compared to units without these features.
In our property pack covering the real estate market in Incheon, we cover what are the best investments a landlord can make.
What renovations get the best ROI for rentals in Incheon?
The five renovations that get the best ROI for rental properties in Incheon are kitchen and bathroom refreshes (new fixtures, clean silicone, modern taps), fresh flooring and wall paint, improved closet and storage space, upgraded appliances (washer, refrigerator, air conditioning), and better lighting fixtures.
In Incheon, a kitchen/bathroom refresh typically costs ₩2 to 5 million ($1,400 to $3,500 USD, or €1,175 to €2,940 EUR) and can support a rent increase of ₩50,000 to ₩100,000 per month, while flooring and paint refreshes cost ₩1 to 3 million and can add ₩30,000 to ₩70,000 per month.
Renovations with poor ROI that landlords in Incheon should avoid include luxury finishes like marble countertops or high-end designer fixtures, which overcapitalize the unit without proportionally increasing what tenants are willing to pay in most neighborhoods.
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.
How strong is rental demand in Incheon as of 2026?
What's the vacancy rate for rentals in Incheon as of 2026?
As of early 2026, the vacancy rate for rental properties in Incheon is estimated at around 4% for normally priced units in active submarkets.
Across different neighborhoods in Incheon, vacancy rates range from as low as 2% in high-demand station areas like Bupyeong to 6% or higher in newer developments where supply has recently outpaced demand.
The current vacancy rate in Incheon is roughly in line with historical averages, though new-town districts like Songdo and Cheongna can experience temporary spikes when large apartment complexes are completed and landlords compete for tenants.
Finally please note that you will have all the indicators you need in our property pack covering the real estate market in Incheon.
How many days do rentals stay listed in Incheon as of 2026?
As of early 2026, rentals in Incheon stay listed for an average of 20 to 35 days before finding a tenant.
Across different property types and neighborhoods in Incheon, days on market can range from under 2 weeks for correctly priced studios near major stations to 6 to 10 weeks for larger or overpriced units in less connected areas.
The current days-on-market figure in Incheon is similar to one year ago, though the ongoing shift toward monthly rent (wolse) contracts has slightly increased listing churn as tenants move more frequently than under traditional long-term jeonse leases.
Which months have peak tenant demand in Incheon?
The peak months for tenant demand in Incheon are February through March and August through September, which align with Korea's major school and job transition periods.
These seasonal demand patterns in Incheon are driven by the Korean academic calendar (school years start in March), corporate hiring cycles, and the tradition of moving during transition periods rather than mid-year.
The months with the lowest tenant demand in Incheon are typically December through January and June through July, when fewer people are actively looking to move and listings tend to sit longer.
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What will my monthly costs be in Incheon as of 2026?
What property taxes should landlords expect in Incheon as of 2026?
As of early 2026, landlords in Incheon should expect to pay annual property-related taxes (property tax plus local add-ons) in the range of ₩1 to 4 million per year ($695 to $2,780 USD, or €590 to €2,350 EUR) for a mid-priced apartment, depending on assessed value.
The realistic low-to-high range of annual property taxes in Incheon runs from under ₩1 million for smaller, older units to over ₩5 million for high-value apartments in premium areas like Songdo.
Property taxes in Incheon are calculated based on the government-assessed value of the property, with rates set by national and local tax authorities, so higher-value properties in newer buildings pay more.
Please note that, in our property pack covering the real estate market in Incheon, we cover what exemptions or deductions may be available to reduce property taxes for landlords.
What maintenance budget per year is realistic in Incheon right now?
A realistic annual maintenance budget for a typical rental property in Incheon is around ₩1.5 to 4 million per year ($1,040 to $2,780 USD, or €880 to €2,350 EUR), which represents roughly 0.5% to 1% of the property's value.
The realistic low-to-high range of annual maintenance costs in Incheon runs from under ₩1 million for newer apartments with few issues to over ₩5 million for older units that require more frequent repairs.
Most landlords in Incheon set aside 5% to 10% of their annual rental income for maintenance reserves, which covers appliance replacements, plumbing fixes, and turnover refresh costs like repainting.
What utilities do landlords often pay in Incheon right now?
In Incheon, landlords rarely pay utilities on behalf of tenants, as the standard practice is for tenants to pay their own electricity, gas, water, and internet.
In cases where landlords do cover utilities (mainly for furnished studios or short-term lets), the typical monthly cost is ₩100,000 to ₩200,000 ($70 to $140 USD, or €60 to €120 EUR) for a studio or small 1-bedroom.
The common practice in Incheon is for tenants to handle all consumption-based utility costs, while building management fees (which cover shared areas and building maintenance) are either split or paid by the tenant depending on the lease agreement.
How is rental income taxed in Incheon as of 2026?
As of early 2026, rental income in Incheon is subject to Korea's national income tax, with rates ranging from 6% to 45% depending on total taxable income, though smaller landlords may qualify for simplified taxation or exemptions.
The main deductions landlords in Incheon can claim against rental income include property-related expenses (repairs, maintenance, management fees), depreciation, interest on loans used to purchase the property, and certain insurance costs.
A common tax mistake landlords in Incheon should avoid is failing to report rental income correctly when using the jeonse system, as the implied rental value from large deposits can trigger tax obligations even without monthly cash payments.
We cover these mistakes, among others, in our list of risks and pitfalls people face when buying property 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 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) | REB is the government-linked body that produces Korea's official housing market statistics. | We use REB as the anchor source for rent trend direction in Incheon. We cross-check our rent-level estimates against what REB's indices imply about year-over-year movement. |
| REB R-ONE Statistics Platform | This is REB's dedicated public-facing portal for real estate statistics and market indicators. | We use R-ONE as the primary reference point for official-statistics-style rent and market indicators. We use it to justify claims about trends being based on a recognized national platform. |
| MOLIT Real Transaction Price Open System | This is the central government portal for real transaction-based housing data in Korea. | We treat MOLIT transaction data as the closest thing to ground truth for rent levels. We use it to frame typical rent as contract-based rather than asking-price-based. |
| MOLIT Real Estate Transaction Management System | RTMS is the government system behind mandatory reporting of real estate transactions and lease workflows. | We use RTMS as supporting evidence that lease data is collected through a formal reporting pipeline. We use it to explain why transaction-based estimates are more reliable than classifieds. |
| Public Data Portal (Data.go.kr) | This is Korea's official catalog for government datasets and APIs. | We use it to point readers to the exact dataset family used for lease transaction data. We also use it to show our approach is verifiable and reproducible. |
| MOLIT Apartment Jeonse/Wolse Transaction OpenAPI | It's an official MOLIT dataset describing reported apartment lease transactions with a documented API. | We use this as the backbone for our rent-level estimates, interpreted as contract-reported monthly rents and deposits. We then sanity-check those levels using REB trend indicators. |
| KOSIS (Korean Statistical Information Service) | KOSIS is the official national statistics portal run by Korea's public statistics system. | We use KOSIS as the official stats spine when discussing population, household context, and housing structure. We also use it as a reference point for broader housing indicators. |
| 2020 Population and Housing Census | It's a national census publication that directly reports vacant housing counts and reasons for vacancy. | We use this to explain what vacancy means in Korean statistics and what typically drives it. We then adapt that concept carefully when estimating rental vacancy in Incheon. |
| Bank of Korea Monetary Policy Statement | It's the central bank's official statement of policy stance and priorities. | We use it to connect interest-rate direction to landlord behavior and rent pressure. We use it to justify our rent-growth outlook assumptions for 2026. |
| Housing Lease Protection Act | This is the official government legal database publishing Korea's housing lease law. | We use it to explain tenant protections and why lease terms in Korea often follow standardized patterns. We also use it to frame the jeonse-to-wolse conversion as a legal concept. |
| National Tax Service Tax Law Portal | It's the NTS's official portal for Korean national tax law and guidance. | We use it to ground how rental income is treated for tax purposes. We also use it to keep the tax section aligned with official guidance. |
| NTS Income Tax Guide for Foreigners | It's an official NTS publication designed to explain income tax clearly to non-specialists and foreigners. | We use it to keep the rental-income tax explanation beginner-friendly and accurate. We use it as a cross-check for what non-residents typically need to consider. |
| Incheon Metropolitan City Tax Overview | It's the city's official overview of national vs. local taxes for residents and newcomers. | We use it to localize the monthly costs section for Incheon. We also use it as an official resource for readers who want city-level guidance. |
| MK News (MOLIT Housing Stats) | It's a mainstream national business outlet explicitly citing MOLIT housing statistics releases. | We use it to support the claim that Korea's market is structurally shifting toward monthly rent. We then connect that shift to what renters and landlords should expect in Incheon. |
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