Gross rental yields in Japan: Tokyo and 7 other cities

Average gross rental yield in Japan stands at 4.20% (Q1, 2025). Previously, in Q2 2024 the rental yield was 4.33%.

Cities and areas compared
  • Osaka
  • Nagoya
  • Yokohama
  • Fukuoka
  • Sapporo
  • Kobe
  • Kawasaki
Historical Rental Yields in Japan

View the full rental yield dataset (2022 - Present)


  Last Updated: Jan. 30, 2025
Next Update: Jul. 2025
TOKYO - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
Central City  
Studio $215,019 $668 3.73%
1-Bedroom $457,966 $1,228 3.22%
2-Bedroom $825,726 $1,845 2.68%
3-Bedroom $1,143,802 $2,417 2.54%
4+Bedroom $1,207,417 $5,248 5.22%
Eastern 23 Wards      
Studio $145,678 $471 3.88%
1-Bedroom $240,465 $706 3.52%
2-Bedroom $285,632 $1,011 4.25%
3-Bedroom $310,442 $1,171 4.53%
4+Bedroom $399,503 $1,590 4.78%
Southern Part of the 23rd Ward  
Studio $157,765 $490 3.73%
1-Bedroom $278,952 $878 3.78%
2-Bedroom $431,311 $1,348 3.75%
3-Bedroom $520,372 $1,705 3.93%
Wester Part of the 23rd Ward      
Studio $123,413 $426 4.14%
1-Bedroom $221,381 $732 3.97%
2-Bedroom $318,012 $1,024 3.86%
3-Bedroom $412,226 $1,336 3.89%
4+Bedroom $421,769 $1,769 5.03%
Northern Part of the 23rd Ward      
Studio $132,637 $458 4.14%
1-Bedroom $208,658 $719 4.13%
2-Bedroom $291,357 $1,129 4.65%
3-Bedroom $380,419 $1,349 4.26%
Tokyo (all locations)      
Studio $158,402 $439 3.33%
1-Bedroom $278,634 $700 3.01%
2-Bedroom $405,865 $971 2.87%
3-Bedroom $412,226 $1,260 3.67%
4+Bedroom $475,842 $1,705 4.30%
Tokyo avg. Rental Yields 3.44%
OSAKA - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
Kita-ku  
1-Bedroom $476,987 $681 1.71%
2-Bedroom $507,649 $1,145 2.71%
3-Bedroom $572,155 $1,400 2.94%
Nishi-ku      
Studio $110,372 $403 4.38%
1-Bedroom $304,080 $674 2.66%
2-Bedroom $412,226 $1,018 2.96%
Joto-ku      
2-Bedroom $148,827 $573 4.62%
3-Bedroom $164,127 $827 6.05%
Chuo-ku  
Studio $111,326 $420 4.53%
1-Bedroom $343,840 $755 2.63%
2-Bedroom $544,546 $1,177 2.59%
3-Bedroom $533,095 $1,590 3.58%
Yodogawa-ku      
Studio $62,342 $356 6.85%
1-Bedroom $106,873 $515 5.78%
2-Bedroom $157,765 $636 4.84%
3-Bedroom $190,082 $891 5.62%
Tennoji-ku      
1-Bedroom $206,749 $598 3.47%
2-Bedroom $266,547 $827 3.72%
3-Bedroom $390,279 $1,323 4.07%
Abeno-ku  
2-Bedroom $272,273 $827 3.64%
3-Bedroom $283,087 $1,034 4.38%
Osaka (all locations)      
Studio $100,817 $352 4.19%
1-Bedroom $156,298 $476 3.65%
2-Bedroom $182,611 $609 4.00%
3-Bedroom $202,268 $824 4.89%
4+Bedroom $233,337 $1,090 5.61%
Osaka avg. Rental Yields 4.47%
NAGOYA - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
Naka-ku  
Studio $97,331 $375 4.62%
1-Bedroom $189,573 $573 3.63%
2-Bedroom $251,280 $884 4.22%
3-Bedroom $279,779 $922 3.95%
Chikusa-ku      
2-Bedroom $146,887 $585 4.78%
3-Bedroom $222,271 $700 3.78%
4+Bedroom $253,188 $827 3.92%
Higashi-ku      
1-Bedroom $221,381 $532 2.88%
2-Bedroom $269,092 $706 3.15%
3-Bedroom $367,696 $795 2.59%
Meito-ku  
2-Bedroom $94,786 $426 5.39%
3-Bedroom $119,914 $509 5.09%
Midori-ku  
2-Bedroom $110,372 $652 7.09%
3-Bedroom $209,294 $738 4.23%
Nagoya (all locations)  
Studio $98,921 $318 3.86%
1-Bedroom $170,866 $414 2.91%
2-Bedroom $170,208 $445 3.14%
3-Bedroom $180,723 $528 3.51%
4+Bedroom $195,838 $700 4.29%
Nagoya avg. Rental Yields 3.54%
YOKOHAMA - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
Minami-ku  
Studio $67,211 $380 6.78%
1-Bedroom $177,974 $495 3.34%
2-Bedroom $198,463 $632 3.82%
3-Bedroom $228,264 $900 4.73%
Naka-ku  
Studio $126,813 $431 4.08%
1-Bedroom $239,678 $710 3.55%
2-Bedroom $371,564 $951 3.07%
3-Bedroom $379,173 $1,140 3.61%
Nishi-ku  
1-Bedroom $280,892 $710 3.03%
2-Bedroom $331,618 $983 3.56%
Kanagawa-ku  
1-Bedroom $278,927 $602 2.59%
2-Bedroom $398,195 $808 2.43%
3-Bedroom $316,971 $1,094 4.14%
Yokohama (all locations)  
Studio $87,501 $374 5.13%
1-Bedroom $166,760 $507 3.65%
2-Bedroom $190,157 $628 3.96%
3-Bedroom $239,678 $831 4.16%
4+Bedroom $265,040 $1,154 5.22%
Yokohama avg. Rental Yields 4.43%
FUKUOKA - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
Center  
1-Bedroom $185,756 $503 3.25%
2-Bedroom $266,547 $891 4.01%
3-Bedroom $291,357 $1,053 4.34%
4+Bedroom $313,305 $1,717 6.58%
Fukuoka (all locations)  
Studio $88,425 $280 3.80%
1-Bedroom $139,921 $442 3.79%
2-Bedroom $157,765 $509 3.87%
3-Bedroom $184,484 $636 4.14%
4+Bedroom $221,381 $1,018 5.52%
Fukuoka avg. Rental Yields 4.22%
SAPPORO - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
Center  
1-Bedroom $126,848 $356 3.37%
2-Bedroom $158,910 $541 4.09%
3-Bedroom $203,250 $820 4.84%
4+Bedroom $207,703 $939 5.43%
Sapporo (all locations)  
Studio $38,041 $229 7.22%
1-Bedroom $120,232 $318 3.17%
2-Bedroom $145,042 $382 3.16%
3-Bedroom $157,765 $541 4.11%
4+Bedroom $171,697 $1,018 7.11%
Sapporo avg. Rental Yields 4.96%
KOBE - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
Center  
Studio $83,085 $380 5.49%
1-Bedroom $226,996 $533 2.82%
2-Bedroom $315,766 $729 2.77%
3-Bedroom $292,359 $967 3.97%
Kobe (all locations)  
Studio $77,828 $323 4.98%
1-Bedroom $125,545 $418 4.00%
2-Bedroom $160,997 $472 3.52%
3-Bedroom $171,071 $539 3.78%
4+Bedroom $193,074 $774 4.81%
Kobe avg. Rental Yields 4.22%
KAWASAKI - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
Center  
2-Bedroom $221,290 $824 4.47%
3-Bedroom $277,722 $1,078 4.66%
Kawasaki (all locations)  
Studio $74,820 $380 6.09%
1-Bedroom $195,293 $552 3.39%
2-Bedroom $220,973 $742 4.03%
3-Bedroom $284,697 $951 4.01%
4+Bedroom $344,299 $1,205 4.20%
Kawasaki avg. Rental Yields 4.34%
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 U-Occino

Research Methodology:

Our rental yield analysis is conducted biannually to ensure up-to-date insights. We assess 1-bedroom, 2-bedroom, 3-bedroom across the largest cities in Japan, 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. 

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