Gross rental yields in the Philippines: Manila and Cebu
The average gross rental yield in the Philippines stands at 5.11% (Q1, 2026). Previously, in Q4 2025, the rental yield was 5.23%.
Cities compared
- Manila
- Cebu
Historical rental yields in the Philippines
| METRO MANILA - Apartments | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Taguig City | |||
| Studio & 1-Bedroom | $201,500 | $840 | 5.00% |
| 2-Bedroom | $436,600 | $1,680 | 4.62% |
| 3-Bedroom | $1,007,500 | $3,570 | 4.25% |
| 4+Bedroom | $2,031,700 | $8,400 | 4.96% |
| Mandaluyong City | |||
| Studio & 1-Bedroom | $95,700 | $760 | 9.53% |
| 2-Bedroom | $302,100 | $2,180 | 8.66% |
| 3-Bedroom | $795,100 | $2,520 | 3.80% |
| Pasig City | |||
| Studio & 1-Bedroom | $142,700 | $590 | 4.96% |
| 2-Bedroom | $226,700 | $1,040 | 5.51% |
| 3-Bedroom | $403,000 | $1,510 | 4.50% |
| 4+Bedroom | $1,671,100 | $2,190 | 1.57% |
| Quezon City | |||
| Studio & 1-Bedroom | $82,300 | $420 | 6.12% |
| 2-Bedroom | $196,500 | $790 | 4.82% |
| 3-Bedroom | $399,700 | $1,010 | 3.03% |
| Pasay City | |||
| Studio & 1-Bedroom | $94,000 | $420 | 5.36% |
| 2-Bedroom | $176,300 | $590 | 4.02% |
| Paranaque City | |||
| Studio & 1-Bedroom | $78,900 | $380 | 5.78% |
| 2-Bedroom | $109,100 | $500 | 5.50% |
| 3-Bedroom | $460,900 | $1,680 | 4.37% |
| San Juan | |||
| Studio & 1-Bedroom | $147,700 | $760 | 6.17% |
| 2-Bedroom | $167,900 | $1,090 | 7.79% |
| 3-Bedroom | $453,400 | $1,680 | 4.45% |
| Metro Manila (all locations) | |||
| Studio & 1-Bedroom | $121,800 | $660 | 6.50% |
| 2-Bedroom | $278,100 | $1,470 | 6.34% |
| 3-Bedroom | $752,600 | $2,790 | 4.45% |
| 4+Bedroom | $1,460,300 | $4,700 | 3.86% |
| Metro Manila avg. Rental Yields | 5.29% | ||
| METRO MANILA (MANILA CITY) - Apartments | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Metro Manila (Manila City) | |||
| Studio & 1-Bedroom | $84,000 | $420 | 6.00% |
| 2-Bedroom | $134,300 | $840 | 7.51% |
| 3-Bedroom | $319,000 | $1,600 | 6.02% |
| Metro Manila (Manila City) avg. Rental Yields | 6.51% | ||
| CEBU CITY - Apartments | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Cebu City (all locations) | |||
| Studio & 1-Bedroom | $122,600 | $500 | 4.89% |
| 2-Bedroom | $201,500 | $1,010 | 6.01% |
| 3-Bedroom | $470,200 | $1,510 | 3.85% |
| Cebu City (all locations) avg. Rental Yields | 4.92% | ||
| All yields are gross - i.e., before taxes, repair costs, ground rents, estate agents' fees, and any other costs. Net yields (what you'll really earn) are typically around 1.5% to 2% lower. Source: Global Property Guide and Lamudi |
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View the full rental yield dataset (2023 - Present)
Research Methodology:
Our rental yield analysis is conducted biannually to ensure up-to-date insights. We assess 1-bedroom, 2-bedroom, and 3-bedroom properties across the largest cities in the Philippines, comparing median rental prices with median purchase prices to determine gross rental yields.
We source data from a leading local property platform, capturing both asking rents and list prices to reflect current market conditions. The gross rental yield is calculated using the following formula:
(Median Monthly Rent × 12) ÷ Median Purchase Price × 100
For example, if the median monthly rent is €500 and the median purchase price is €100,000, the yield is calculated as:
(€500 × 12) ÷ €100,000 = 6% Gross Rental Yield
Note: NET yields vary from country to country, but are usually 1.5-2% lower.
