Gross rental yields in Japan: Tokyo and 7 other cities
Average gross rental yield in Japan stands at 4.22% (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 |
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| 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 | $99,232 | $318 | 3.85% |
| 2-Bedroom | $145,042 | $382 | 3.16% |
| 3-Bedroom | $157,765 | $541 | 4.11% |
| 4+Bedroom | $171,697 | $1,018 | 7.11% |
| Sapporo avg. Rental Yields | 5.09% | ||
| KOBE - Apartments | COST ($) | 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 |
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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.