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SUMMARY
Yes. Rent is getting more expensive in Tokyo, and the increase is broad enough to show up across small apartments, family homes, older stock, cheaper buildings and outer Tokyo.
The headline rent increases can look extreme because advertised rents are moving faster than the homes renters actually inquire about. Asking rents can be up around 10–15% in some categories while renter-accepted price levels look closer to the mid-single digits.
Small apartments are under the most visible pressure. In the 23 wards, condominium rents for units up to 30 m² are up 10.5% in a year, while cheaper apartment buildings in the same size band are up 11.4%.
Family renters are paying more too, but they seem more willing to compromise. The gap between advertised family rents and inquiry rents is unusually wide, which suggests landlords have less room to keep pushing large increases.
Moving outside the 23 wards still saves a lot of money, often 40–50% depending on unit size. The catch is that outer Tokyo rents are rising quickly too, so affordability is moving outward rather than staying fixed.
The rise is not just a luxury-tower story. Older and cheaper apartments are also setting records, which suggests tenants priced out of newer buildings are helping pull the rest of the market higher.
Over a longer horizon, the change is much bigger than the latest annual figures imply. Tokyo Kantei’s 23-ward condominium rent measure has risen from about ¥3,823/m² in mid-2022 to ¥5,157/m², roughly 35% in around four years.
Demand remains strong because Tokyo is still gaining residents even as Japan’s national population shrinks. Domestic migration, international residents and younger renters keep supporting the parts of the housing market where renting is most common.
Renters are not simply accepting every increase. They are sharing larger homes, choosing older buildings, moving farther from central wards and trading space for location, and those choices are starting to cap what landlords can charge.
Rental construction has begun recovering after a weak start to 2026, but new housing takes time to complete. That supply rebound is more likely to slow future rent growth than to produce a broad rent decline in the near term.
The direction is still up, but the next phase should be less dramatic. Another year of widespread 10–15% rent growth looks aggressive; slower, more uneven increases are the more plausible outcome.
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Is rent actually getting more expensive in Tokyo now?
Yes. Tokyo rent is clearly more expensive now, and the increase has spread far beyond a handful of luxury apartments in central neighborhoods.
The latest At Home rental data show year-on-year increases across every condominium size category in Tokyo’s 23 wards. Apartments of 30 m² or less averaged ¥114,147 a month, up 10.5%. Units between 30 and 50 m² reached ¥184,051, up 9.1%. Family-sized apartments of 50–70 m² averaged ¥259,881, 5.1% more than a year earlier, while units above 70 m² reached ¥416,440, up 6.7%.
Tokyo Kantei reaches the same conclusion using a different measurement. Its latest condominium-rental index put the 23 wards at ¥5,157 per square meter, 6.3% above the previous year and another 0.8% higher than the previous month.
That combination is difficult to dismiss as a change in the type of apartments being advertised. Monthly rents are up, rent per square meter is up, small units are up, family units are up, and cheaper apartment buildings are up too.
| Tokyo 23-ward condominiums | Average monthly asking rent | Change in one year | Extra rent per month |
|---|---|---|---|
| Up to 30 m² | ¥114,147 | +10.5% | +¥10,882 |
| 30–50 m² | ¥184,051 | +9.1% | +¥15,286 |
| 50–70 m² | ¥259,881 | +5.1% | +¥12,506 |
| Above 70 m² | ¥416,440 | +6.7% | +¥26,179 |
Are Tokyo rents really rising 10–15%, or is that exaggerated?
Tokyo rents are rising quickly, but saying that the typical renter is paying 10–15% more than last year would exaggerate what is actually happening.
The problem is that the biggest numbers usually come from advertised rents. LIFULL HOME'S currently measures an average advertised rent of ¥136,075 for single-person properties in the 23 wards, 14.9% higher than a year earlier. Family properties average ¥259,107, up 9.2%.
But LIFULL also tracks the apartments people actually contact agents about. That second dataset tells a much calmer story. Single-person inquiry properties averaged ¥100,457, only 4.2% above the previous year. Family inquiry properties averaged ¥181,950, up 3.6%.
Renters are refusing part of the increase landlords are trying to push through. They can react by choosing an older building, moving farther from a station, accepting less space or switching neighborhoods.
The useful distinction is between what landlords are trying to charge and what renters are actually willing to consider. Tokyo asking rents can genuinely be rising by around 10% or more in some categories while the increase renters are absorbing looks closer to the mid-single digits.
| Tokyo 23 wards | Average advertised rent | Annual change | Rent on inquiry properties | Annual change |
|---|---|---|---|---|
| Single-person homes | ¥136,075 | +14.9% | ¥100,457 | +4.2% |
| Family homes | ¥259,107 | +9.2% | ¥181,950 | +3.6% |
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Are small apartments getting expensive fastest in Tokyo?
Yes. Small Tokyo rentals are currently among the fastest-rising parts of the market.
At Home reports that condominium units of 30 m² or less in the 23 wards now average ¥114,147, up 10.5% in a year. Small units in ordinary apartment buildings have risen even faster, reaching ¥76,812 after an 11.4% increase.
The length of the run is more revealing than one annual comparison. Small condominium rents had set new records for 25 consecutive months before slipping by just 0.1% in the latest reading. Small apartment rents have reached a new high for 15 consecutive months.
Demand for this part of the market is also unusually deep. LIFULL found that inquiries for single-person rentals across the Tokyo metropolitan area had remained above year-earlier levels for four straight quarters. Tokyo continues to attract the age groups most likely to rent studios and 1K or 1LDK apartments, particularly young workers and students.
So a small Tokyo apartment is no longer the obvious cheap option it once was. These units still cost far less in absolute terms than family apartments, but their rents are currently rising faster.
Are Tokyo family rents rising too?
Yes. Family rents are climbing more slowly than rents for small apartments, but the extra amount households have to pay is substantial.
At Home puts the average 50–70 m² condominium in the 23 wards at ¥259,881 a month, up 5.1% in one year. That works out to roughly ¥150,000 more rent over twelve months. Apartments larger than 70 m² now average ¥416,440, an annual increase of more than ¥26,000 a month.
LIFULL’s separate family-rental series also recently reached a record ¥259,107 for advertised homes.
Families appear more price-sensitive than singles. LIFULL recorded declining inquiry volumes for family rentals across the wider Tokyo metropolitan area for four consecutive quarters. At the same time, the gap between what landlords advertise and what prospective tenants actually inquire about has become unusually large.
That probably puts a lower ceiling on future family-rent increases. A single renter may accept another ¥5,000 or ¥10,000 relatively easily. Adding ¥20,000–¥30,000 to a family rent of already ¥200,000 or more changes the household budget much more visibly.
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Has Tokyo rent become expensive even outside the central wards?
Yes. Rent inflation has spread across Tokyo, although moving outside the 23 wards can still cut the monthly bill dramatically.
At Home’s latest comparable data show a sharp absolute divide. A condominium of 30 m² or less averages ¥114,147 inside the 23 wards but ¥67,283 elsewhere in Tokyo. For a 30–50 m² unit, the averages are ¥184,051 and ¥105,539. Family-sized homes of 50–70 m² average ¥259,881 inside the wards and ¥144,016 outside them.
Those gaps mean renters can still save roughly 40–50% by leaving the 23 wards in some size categories.
But outer Tokyo is hardly a stagnant market these days. Condominium asking rents outside the wards rose 10.4% for units up to 30 m², 12.3% for 30–50 m² apartments and 10.2% for 50–70 m² homes.
The affordable geography is shifting outward rather than staying cheap. People can still escape the extreme rent levels of central Tokyo, but they increasingly encounter rising rents wherever they land.
| Condominium size | Tokyo 23 wards | Rest of Tokyo | Approximate 23-ward premium |
|---|---|---|---|
| Up to 30 m² | ¥114,147 | ¥67,283 | 70% |
| 30–50 m² | ¥184,051 | ¥105,539 | 74% |
| 50–70 m² | ¥259,881 | ¥144,016 | 80% |
| Above 70 m² | ¥416,440 | ¥203,097 | 105% |
Are cheaper and older Tokyo apartments getting more expensive too?
Yes. Tokyo’s rent increase has now reached older and cheaper housing, which makes the current cycle much broader than a new-build or luxury boom.
At Home separates rental condominiums from the cheaper apartment-building market. In the 23 wards, apartments of up to 30 m² now average ¥76,812, up 11.4% in a year. The 30–50 m² category reached ¥127,762, up 8.1%, while 50–70 m² apartments rose 5.5% to ¥176,959.
Every one of those categories is at its highest level in At Home’s series going back to 2015.
Tokyo Kantei’s data tell a similar story by building age. Rents for condominiums more than five years old remain firm across the age ranges it tracks. Interestingly, the weakest part of the market currently includes buildings aged five years or less, where rents have become harder to push higher.
That cuts against the idea that the averages are being distorted by expensive new towers. Tokyo Kantei’s typical rental sample is roughly 18 years old, yet the 23-ward average still reached ¥5,157 per square meter.
Older stock is being pulled upward as tenants search for alternatives to expensive new apartments. Owners can raise rents and still offer a noticeable discount to newer buildings.
| Tokyo 23-ward rental type | Monthly rent | Annual change | What it shows |
|---|---|---|---|
| Apartment, up to 30 m² | ¥76,812 | +11.4% | Budget singles are getting pricier |
| Apartment, 30–50 m² | ¥127,762 | +8.1% | Mid-size affordable stock is rising |
| Apartment, 50–70 m² | ¥176,959 | +5.5% | Family budget stock is rising too |
| Condominium rent per m² | ¥5,157/m² | +6.3% | Increase survives the size adjustment |
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How much have Tokyo rents risen over several years?
Tokyo rents have moved much more than the latest one-year figures suggest.
Tokyo Kantei’s condominium data put the average 23-ward rent at around ¥3,823 per square meter in mid-2022. The latest reading is ¥5,157. That is an increase of roughly 35% in about four years.
The path was uneven. Tokyo did not suddenly jump from ¥3,800 to more than ¥5,000. Rents moved higher in stages, paused at times and then accelerated more visibly during the latest part of the cycle.
That longer comparison is more useful than obsessing over one monthly move. A 0.5% or 1% change can disappear the following month. A roughly one-third increase in rent per square meter over several years changes what tenants can afford and what landlords expect from a vacant apartment.
The increase has also lasted long enough to reset reference prices. Landlords are no longer comparing a vacant unit with what similar properties rented for five years ago. They are comparing it with today’s much higher listings nearby.
Why is there still enough demand to keep Tokyo rents rising?
Tokyo keeps attracting renters even while Japan as a whole is losing population.
Tokyo’s estimated population recently reached roughly 14.3 million, around 66,000 higher than a year earlier. Growth has not been confined to Minato, Shibuya or other expensive central areas. Wards such as Adachi, Edogawa, Itabashi, Suginami and Ota were among those adding the largest numbers of residents.
Domestic migration remains strongly tilted toward the capital as well. According to Japan’s Statistics Bureau, Tokyo recorded a net domestic inflow of more than 65,000 people during 2025. The wider Tokyo metropolitan region attracted over 123,000 more domestic arrivals than departures.
Foreign-resident growth adds another layer. Tokyo had roughly 784,000 foreign residents at the beginning of 2026, an increase of more than 62,000 in a year.
Those groups overlap only partly, and obviously not every newcomer rents a private apartment. Still, the scale is large enough to explain why vacant homes do not automatically translate into weak rental demand. Tokyo continues to pull in workers, students and international residents at an age when renting is far more common than buying.
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Are Tokyo renters starting to change how they live because rent is too high?
Yes. Tokyo renters are increasingly changing the property they choose rather than simply paying whatever landlords ask.
LIFULL’s research gives us a particularly concrete example. For comparable homes in the 23 wards, sharing a two-person property can cut each resident’s monthly rent by around ¥43,000 compared with renting a single-person apartment alone. Listings designed or permitted for sharing attracted inquiries at 3.3 times the rate of ordinary single-person homes relative to their available supply.
Older housing is benefiting too. During the most recent spring quarter studied by LIFULL, a larger share of renter inquiries shifted toward properties more than 11 years old.
Moving outward is another obvious response. The difference between a 30–50 m² condominium inside and outside the 23 wards is currently almost ¥79,000 per month according to At Home.
Renters have several ways to resist higher Tokyo rents without leaving the metropolitan area altogether: share an apartment, accept an older building, live farther from the center or trade space for location.
These choices are already shaping the market. Landlords can push prices higher, but tenants are becoming noticeably more selective about which increases they accept.
Is Tokyo building enough rental housing to bring rents back down?
Tokyo has started building more rental housing again, but the current rebound is nowhere near strong enough to push rents down yet.
Tokyo’s rental-housing starts fell sharply earlier in 2026. The first quarter produced 15,552 rental starts, 19.4% fewer than a year earlier. That weak period followed a 7.4% drop in rental starts across fiscal 2025.
Construction has since turned around. Rental starts rose 5.9% year on year in May, strengthened further during the second quarter, and the newest Tokyo Metropolitan Government release shows 6,820 rental units started in July, up 10.4% from the previous year. July marked a fourth consecutive month of growth in rental starts.
The timing matters. Housing starts today become completed rentals later, so this rebound cannot immediately solve today’s shortage of desirable units.
It does tell us something about where the market may be heading. Developers are responding to higher rents, and supply is no longer shrinking at the pace seen earlier.
If that recovery continues for another year or two while renter demand cools, rent growth should become harder to sustain at current rates. For now, Tokyo is still absorbing the additional supply without a broad drop in rents.
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Are Tokyo rents starting to hit a ceiling?
In a few parts of the market, yes. Tokyo rents are still rising overall, but we can now see the first signs that landlords are reaching the limits of what tenants will accept.
At Home’s small-condominium category gives us one example. After 25 consecutive months of record highs, rents for units of 30 m² or less slipped 0.1% in the latest monthly reading. That is tiny, but it was the first decline in 26 months.
Tokyo Kantei sees another weak spot in newer condominiums. Properties aged five years or less have recently struggled to push rents higher even while older buildings remained firm.
The behaviour of renters points in the same direction. LIFULL’s asking rents have risen much faster than rents on properties receiving inquiries, particularly in the family segment. As seen above, people are increasingly searching for older housing, sharing larger units or moving farther out.
None of this looks like a Tokyo rental downturn yet. A single 0.1% monthly decline tells us very little on its own, and most major annual measures are still comfortably positive.
But the market now has a visible affordability ceiling. The easiest part of the rent increase has probably already happened.
Will Tokyo rents keep rising from here?
Tokyo rents will probably keep rising for now, but expecting another broad 10–15% annual increase would be aggressive.
Several forces still support higher rents. Tokyo continues to gain residents, small rental apartments remain in strong demand, rents have risen across both old and new stock, and the rebound in construction has not yet produced enough completed housing to flood the market.
At the same time, the forces pushing back are becoming stronger. Family-rental demand is softer, tenants are downgrading to older or cheaper homes, the newest condominiums are finding it harder to increase rents, and rental construction is finally recovering.
The more plausible next phase is slower and messier. Attractive small apartments in convenient parts of the 23 wards can still get more expensive. Older affordable units may continue catching up. Some premium new apartments may struggle to move at all.
We should be much more skeptical of another year in which nearly every Tokyo rental category rises at double-digit rates.
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So, is rent getting more expensive in Tokyo?
Yes. Tokyo rent is genuinely getting more expensive today, and the evidence is broad enough that there is little room left for debate about the direction of the market.
The exact pace needs more care. Advertised rents in some categories are rising around 10–15%, but renters are not swallowing all of those increases. Properties that actually receive inquiries suggest something closer to a mid-single-digit rise in the rent levels many households are willing to consider.
Tokyo Kantei’s 6.3% annual increase in 23-ward condominium rent per square meter fits that middle ground well. At Home also finds increases across every condominium size bracket and every cheaper apartment category it tracks. Over roughly four years, condominium rent per square meter in the 23 wards has risen by about 35%.
What has changed lately is the breadth of the increase. Small apartments, family homes, older buildings, cheaper apartments and outer Tokyo are all more expensive. This is no longer mainly a story about luxury towers in Minato or Shibuya.
The next leg should be less dramatic. Renters are pushing back, construction is recovering and some of the most expensive stock is already losing momentum. But those are reasons to expect slower rent growth, not cheaper Tokyo rent. As of now, the direction is still up.
OUR METHODOLOGY
We started from a simple premise: a Tokyo rent question is easy to answer with a few expensive listings and much harder to answer well. Instead of relying on one headline figure, we tested whether the increase was visible across multiple measures, housing types, locations and renter behaviours.
We prioritized fresh, recurring datasets and official statistics. At Home is the main source for asking rents by unit size, Tokyo 23 wards versus the rest of Tokyo, condominium versus apartment stock, and the recent record sequences. Tokyo Kantei provides the rent-per-square-meter series and the building-age comparison, while LIFULL HOME'S helps separate advertised rents from rents on properties that actually receive inquiries.
We then tested the rent data against demand and supply. Tokyo Metropolitan Government population data and the Statistics Bureau of Japan’s internal migration figures were used to check whether the capital is still attracting enough residents to support rental demand. Tokyo Metropolitan Government housing-start statistics were used to track the earlier construction slowdown and the more recent rebound in rental supply.
We did not combine those measures into one score. When independent datasets pointed in the same direction, we treated the conclusion as stronger. When they diverged, the gap itself was useful, especially the difference between what landlords advertise and what renters appear willing to consider.
Key sources include At Home’s July 2026 rental asking-rent report, Tokyo Kantei’s July 2026 condominium-rent report, LIFULL HOME'S July 2026 rental market report, LIFULL HOME'S April–June 2026 quarterly report, LIFULL HOME'S room-sharing study, the Tokyo Metropolitan Government’s July 2026 population estimate, the Statistics Bureau of Japan’s 2025 Internal Migration Report, and the Tokyo Metropolitan Government’s July 2026 housing-start release.
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