What are rents like in South Korea right now? (January 2026)

If you're looking to rent or invest in South Korea, understanding current rent levels is essential.

This article covers the latest rental prices across South Korea and breaks down what's driving the market in 2026.

We constantly update this blog post to keep our numbers fresh.

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 South Korea.

Who is the author of this content?

BAMBOOROUTES

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

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

What are typical rents in South Korea as of 2026?

What's the average monthly rent for a studio in South Korea as of 2026?

As of January 2026, the average monthly rent for a studio in South Korea is around 550,000 won ($410 USD or €375 EUR), though Seoul pushes this higher.

Most studios range from 450,000 to 750,000 won ($335 to $555 USD, or €305 to €510 EUR), with Seoul often at the top or above.

The main factors causing studio rents to vary in South Korea are location (Seoul versus regional cities), subway proximity, building age, and whether it's an officetel or traditional one-room.

What's the average monthly rent for a 1-bedroom in South Korea as of 2026?

As of January 2026, the average monthly rent for a 1-bedroom apartment in South Korea is around 850,000 won ($630 USD or €575 EUR).

Most 1-bedrooms range from 700,000 to 1,100,000 won ($520 to $815 USD, or €475 to €745 EUR), with premium Seoul neighborhoods above this band.

The cheapest 1-bedroom rents are in regional cities like Daegu and Daejeon, while the most expensive cluster in Seoul's Gangnam-gu, Seocho-gu, and Yongsan-gu.

What's the average monthly rent for a 2-bedroom in South Korea as of 2026?

As of January 2026, the average monthly rent for a 2-bedroom apartment in South Korea is around 1,300,000 won ($960 USD or €880 EUR).

Most 2-bedrooms range from 1,000,000 to 1,800,000 won ($740 to $1,335 USD, or €680 to €1,220 EUR), depending on city and neighborhood.

The cheapest 2-bedroom rents are in regional cities and Seoul's outer districts, while the most expensive are in Daechi-dong (Gangnam-gu), Banpo-dong (Seocho-gu), and Jamsil-dong (Songpa-gu).

By the way, you will find much more detailed rent ranges in our property pack covering the real estate market in South Korea.

What's the average rent per square meter in South Korea as of 2026?

As of January 2026, the average rent per square meter in South Korea is around 22,000 won ($16 USD or €15 EUR) per month.

The range spans 15,000 to 40,000 won ($11 to $30 USD, or €10 to €27 EUR) per month, with Seoul's desirable districts at the high end.

South Korea's rent per square meter is moderate overall, though Seoul's prime districts rival prices in parts of Tokyo and Hong Kong.

Characteristics pushing rent per square meter above average include subway proximity, newer construction, high floors, and location within prestigious school districts.

How much have rents changed year-over-year in South Korea in 2026?

As of January 2026, rents in South Korea have increased by an estimated 1% to 3% year-over-year, with Seoul running hotter in certain pockets.

The main drivers are the ongoing jeonse-to-wolse shift, tighter lending conditions, and limited new supply in prime Seoul locations.

This continues 2025's pattern of modest increases, though Seoul's monthly rent growth has accelerated faster than the national average due to jeonse conversions.

What's the outlook for rent growth in South Korea in 2026?

As of January 2026, projected rent growth in South Korea is expected to remain steady with slight upward pressure, likely 1% to 3% for the year.

Key factors include continued one-person household growth, ongoing jeonse-to-wolse conversion, and lending constraints keeping more households renting.

Neighborhoods expected to see strongest rent growth are Seoul's Yongsan-gu, Seongdong-gu (especially Seongsu-dong), and parts of Gangnam-gu.

Risks include sudden jeonse loan policy changes, unexpected housing supply increases, or economic slowdowns reducing household formation.

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 South Korea as of 2026?

Which neighborhoods have the highest rents in South Korea as of 2026?

As of January 2026, the highest-rent neighborhoods in South Korea are Gangnam-gu (Apgujeong-dong, Cheongdam-dong), Seocho-gu (Banpo-dong, Jamwon-dong), and Yongsan-gu (Hannam-dong, Ichon-dong), where family apartments can exceed 2,000,000 won ($1,480 USD or €1,355 EUR) monthly.

These neighborhoods command premiums due to top-tier schools, excellent subway access, newer high-end apartments, and prestige reputations.

Typical tenants include affluent Korean families prioritizing education, senior executives, and high-earning expats seeking premium standards.

By the way, we've written a blog article detailing what are the current best areas to invest in property in South Korea.

Where do young professionals prefer to rent in South Korea right now?

The top neighborhoods for young professionals in South Korea are Mapo-gu (Yeonnam-dong, Hongdae area), Seongdong-gu (Seongsu-dong), and Yongsan-gu (Samgakji, parts of Itaewon).

Young professionals typically pay 550,000 to 900,000 won ($410 to $665 USD, or €375 to €610 EUR) for studios and small one-bedrooms.

These neighborhoods attract young renters with walkable cafe scenes, fast subway commutes, co-working spaces, and vibrant nightlife.

By the way, you will find a detailed tenant analysis in our property pack covering the real estate market in South Korea.

Where do families prefer to rent in South Korea right now?

The top neighborhoods for families in South Korea are Seocho-gu (Banpo-dong), Gangnam-gu (Daechi-dong), and Songpa-gu (Jamsil-dong).

Families typically pay 1,500,000 to 3,000,000 won ($1,110 to $2,220 USD, or €1,015 to €2,035 EUR) for 2-3 bedroom apartments.

These neighborhoods attract families with large apartment complexes, playgrounds, proximity to top hagwons (private academies), and safe community environments.

Top educational options include Daechi-dong's renowned "Hagwon Street," prestigious public schools in the Gangnam-Seocho corridor, and international schools accessible from Songpa-gu.

Which areas near transit or universities rent faster in South Korea in 2026?

As of January 2026, the fastest-renting areas near transit or universities in South Korea are the Sinchon-Ewha corridor (Yonsei, Sogang, Ewha), Anam area (Korea University), and Gwanak-gu (Seoul National University).

Properties in these high-demand areas stay listed around 10 to 20 days, compared to 24+ days elsewhere.

The typical rent premium for properties within walking distance of transit or universities is 50,000 to 100,000 won ($37 to $74 USD, or €34 to €68 EUR) monthly.

Which neighborhoods are most popular with expats in South Korea right now?

The top expat neighborhoods in South Korea are Itaewon and Hannam-dong (Yongsan-gu), Seorae Village (Seocho-gu), and Yeonnam-dong/Hongdae (Mapo-gu) for younger expats.

Expats typically pay 800,000 to 2,500,000 won ($590 to $1,850 USD, or €540 to €1,695 EUR), depending on unit size and furnishing.

These neighborhoods offer English-friendly services, international restaurants, proximity to international schools, and established expat communities.

The most represented nationalities include Americans, Europeans (especially French in Seorae Village), Japanese, and tech workers from various countries in Pangyo.

And if you are also an expat, you may want to read our exhaustive guide for expats in South Korea.

Who rents, and what do tenants want in South Korea right now?

What tenant profiles dominate rentals in South Korea?

The dominant tenant profiles in South Korea are single young professionals and students, newlyweds and early-stage families, and expats in Seoul and tech hubs like Pangyo.

Single-person households represent roughly 40% of all households, newlyweds and young families make up another significant portion, and expats account for a smaller but high-value segment.

Singles seek studios near subways, newlyweds look for 2-bedrooms in family districts, and expats prioritize furnished units in international neighborhoods.

If you want to optimize your cashflow, you can read our complete guide on how to buy and rent out in South Korea.

Do tenants prefer furnished or unfurnished in South Korea?

In South Korea, roughly 70% of long-term family apartment rentals are unfurnished, while 50-60% of studios and officetels are part-furnished, especially near universities and transit.

The typical furnished premium is 100,000 to 200,000 won ($74 to $148 USD, or €68 to €136 EUR) monthly.

Tenants preferring furnished rentals include expats on shorter assignments, students, and young professionals wanting quick move-ins.

Which amenities increase rent the most in South Korea?

The top five rent-boosting amenities in South Korea are subway proximity (5-minute walk), building security (keypad, CCTV, guard), in-unit washer/dryer, modern HVAC, and elevator with parking.

Typical premiums: subway proximity adds 50,000-100,000 won ($37-74 USD), security adds 30,000-70,000 won ($22-52 USD), in-unit laundry adds 30,000-50,000 won ($22-37 USD), modern HVAC adds 20,000-50,000 won ($15-37 USD), and elevator/parking adds 50,000-100,000 won ($37-74 USD).

In our property pack covering the real estate market in South Korea, we cover what are the best investments a landlord can make.

What renovations get the best ROI for rentals in South Korea?

The top five ROI renovations in South Korea are bathroom refreshes, kitchen upgrades, soundproofing/insulation, appliance packages, and floor replacement.

Typical costs and rent increases: bathroom (2-5 million won, +50,000-100,000 won/month), kitchen (3-7 million won, +50,000-80,000 won/month), soundproofing (1.5-4 million won, +30,000-60,000 won/month), appliances (2-4 million won, +40,000-70,000 won/month), flooring (1.5-3.5 million won, +30,000-50,000 won/month).

Renovations with poor ROI include luxury finishes exceeding neighborhood standards, structural changes not adding space, and expensive built-ins limiting tenant flexibility.

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 South Korea as of 2026?

What's the vacancy rate for rentals in South Korea as of 2026?

As of January 2026, the estimated vacancy rate for rentals in South Korea is around 6% nationwide, though prime Seoul neighborhoods are much tighter.

Vacancy ranges from 2-4% in high-demand Seoul areas to 8%+ in slower regional markets and oversupplied suburban zones.

The current rate is slightly below historical average, reflecting sustained demand from household formation, jeonse conversion, and limited prime-location supply.

Finally please note that you will have all the indicators you need in our property pack covering the real estate market in South Korea.

How many days do rentals stay listed in South Korea as of 2026?

As of January 2026, rentals in South Korea stay listed around 24 days on average nationwide.

The range spans 10-20 days for move-in-ready studios in prime Seoul to 30-45 days for family apartments in non-prime or regional areas.

Days-on-market is slightly lower than last year, reflecting increased churn as more tenants shift to monthly rent contracts seeking faster move-ins.

Which months have peak tenant demand in South Korea?

Peak tenant demand in South Korea hits in February-March and August-September, creating two rental seasons yearly.

These patterns are driven by the academic calendar (semesters starting March and September), corporate hiring cycles, and traditional Korean moving culture.

The lowest demand months are December-January and June-July, when holidays, weather, and gaps between seasons slow relocations.

What will my monthly costs be in South Korea as of 2026?

What property taxes should landlords expect in South Korea as of 2026?

As of January 2026, landlords in South Korea should expect property taxes of 0.15-0.35% of assessed value yearly, translating to roughly 750,000-1,750,000 won ($555-1,295 USD, or €510-1,185 EUR) for a typical 500 million won apartment.

The range spans under 500,000 won for lower-value regional properties to several million won for high-value Seoul holdings, especially if Comprehensive Real Estate Holding Tax applies.

Property taxes are calculated on officially assessed value (typically below market value), with rates varying by property type, total holdings, and local factors.

Please note that, in our property pack covering the real estate market in South Korea, we cover what exemptions or deductions may be available to reduce property taxes for landlords.

What utilities do landlords often pay in South Korea right now?

In South Korea, landlords rarely pay utilities for standard rentals, though some include internet for furnished one-rooms or corporate leases.

When included, internet typically costs 30,000-50,000 won ($22-37 USD, or €20-34 EUR) monthly.

Standard practice is tenants pay electricity (KEPCO), gas (city gas/KOGAS), water (local utility), and internet directly, while building management fees may be split depending on lease terms.

How is rental income taxed in South Korea as of 2026?

As of January 2026, rental income in South Korea is subject to income tax at 6-45% depending on total taxable income; landlords should set aside roughly 10-25% of rental profit for taxes.

Main deductions include property depreciation, mortgage interest, maintenance costs, management fees, and property taxes paid.

A common mistake specific to South Korea is failing to properly report jeonse deposit interest income or underreporting rental income from multiple properties, as the National Tax Service has increased real estate scrutiny.

We cover these mistakes, among others, in our list of risks and pitfalls people face when buying property in South Korea.

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 South Korea, 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) - National Survey	It's the official, legally mandated housing-market survey body used by the government and lenders.	We used it as the anchor for rent and jeonse trend direction. We cross-checked rent-change claims against REB's survey framework.
Korea Real Estate Board (REB) - Main Portal	It's REB's official site publishing statistics and market monitoring.	We used it to verify measurement methods and update frequency. We kept terminology consistent (monthly rent vs. jeonse).
Ministry of Land, Infrastructure and Transport (MOLIT)	MOLIT is the central ministry responsible for housing policy in South Korea.	We used it for policy context affecting rentals. We cross-checked rent-market shifts against MOLIT-reported systems.
Real Estate Transaction Management System (RTMS)	It's the government system for reporting and verifying housing lease contracts.	We used it to ground our "real transaction" lens. We justified focusing on deposits plus monthly rent.
Seoul Metropolitan Government - Lease Explainer	It's an official city explainer referencing the national reporting system.	We used it to explain rentals in plain English. We reduced cognitive load for readers unfamiliar with Korean norms.
OECD Housing Prices Indicator	The OECD is a top-tier international source with consistent cross-country methods.	We used it to benchmark South Korea rent inflation internationally. We triangulated direction and pace of rent change.
Global Property Guide - Korea Rent Index	It's a transparent republisher clearly attributing data to the OECD.	We used it for quarterly rent-change tables. We cross-checked year-over-year narrative against published patterns.
Statistics Korea (KOSTAT) - Census Portal	It's the official national census and strongest source for household structure.	We used it to explain who rents (1-person household rise). We justified why studios dominate demand.
Statistics Korea (KOSTAT) - Census Release	It's an official release with housing-stock and household composition stats.	We used it as demographic backbone for tenant profiles. We connected demographics to unit-type demand.
Savills Research - Korea Residential Outlook	Savills is a major global consultancy with institutional readership.	We used it to cross-check market structure shifts. We supported our 2026 outlook section.
Savills Research - Korea Housing Spotlight	It compiles and interprets official housing-market signals.	We used it to triangulate tenant shares and market drivers. We added practical nuance about who rents.
National Tax Service of Korea (NTS)	It's the official tax authority administering income tax including rental income.	We used it to keep tax sections accurate. We pointed readers to the correct filing authority.
Reuters - Korea Housing Policy	Reuters is a reputable wire service quoting official statements clearly.	We used it for policy timing and context. We cross-checked claims against MOLIT's regulatory role.
Korea Electric Power Corporation (KEPCO)	KEPCO is the national electricity utility and authoritative billing source.	We used it to anchor electricity in the utilities section. We kept "who pays what" grounded in billing reality.
Korea Gas Corporation (KOGAS)	KOGAS is the state-run gas company and authoritative source.	We used it to anchor gas in utilities discussion. We avoided hearsay about gas bills.