Gross rental yields in the Philippines: Manila and Cebu
The average gross rental yield in the Philippines stands at 5.57% (Q3, 2026). Previously, in Q1 2026, the rental yield was 5.11%.
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 | $220,700 | $880 | 4.78% |
| 2-Bedroom | $428,600 | $1,680 | 4.70% |
| 3-Bedroom | $999,600 | $4,000 | 4.80% |
| 4+Bedroom | $1,807,200 | $7,200 | 4.78% |
| Mandaluyong City | |||
| Studio & 1-Bedroom | $110,300 | $800 | 8.70% |
| 2-Bedroom | $369,300 | $2,240 | 7.28% |
| 3-Bedroom | $822,400 | $2,400 | 3.50% |
| Pasig City | |||
| Studio & 1-Bedroom | $167,900 | $560 | 4.00% |
| 2-Bedroom | $191,900 | $990 | 6.19% |
| 3-Bedroom | $399,800 | $1,600 | 4.80% |
| 4+Bedroom | $1,593,300 | $1,980 | 1.49% |
| Quezon City | |||
| Studio & 1-Bedroom | $110,400 | $400 | 4.35% |
| 2-Bedroom | $190,200 | $800 | 5.05% |
| 3-Bedroom | $279,100 | $1,040 | 4.47% |
| Pasay City | |||
| Studio & 1-Bedroom | $150,200 | $480 | 3.83% |
| 2-Bedroom | $256,900 | $640 | 2.99% |
| Paranaque City | |||
| Studio & 1-Bedroom | $126,300 | $370 | 3.52% |
| 2-Bedroom | $157,700 | $480 | 3.65% |
| 3-Bedroom | $456,400 | $1,600 | 4.21% |
| San Juan | |||
| Studio & 1-Bedroom | $119,900 | $720 | 7.21% |
| 2-Bedroom | $124,600 | $800 | 7.70% |
| 3-Bedroom | $439,800 | $1,920 | 5.24% |
| Metro Manila (all locations) | |||
| Studio & 1-Bedroom | $152,000 | $720 | 5.68% |
| 2-Bedroom | $289,000 | $1,600 | 6.64% |
| 3-Bedroom | $670,500 | $3,110 | 5.57% |
| 4+Bedroom | $1,596,400 | $5,270 | 3.96% |
| Metro Manila avg. Rental Yields | 5.46% | ||
| METRO MANILA (MANILA CITY) - Apartments | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Metro Manila (Manila City) | |||
| Studio & 1-Bedroom | $78,100 | $400 | 6.15% |
| 2-Bedroom | $127,500 | $720 | 6.78% |
| 3-Bedroom | $254,900 | $1,195 | 5.63% |
| Metro Manila (Manila City) avg. Rental Yields | 6.18% | ||
| CEBU CITY - Apartments | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Cebu City (all locations) | |||
| Studio & 1-Bedroom | $111,800 | $540 | 5.80% |
| 2-Bedroom | $247,400 | $1,040 | 5.04% |
| 3-Bedroom | $414,400 | $1,515 | 4.39% |
| Cebu City (all locations) avg. Rental Yields | 5.08% | ||
| 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.
