Gross rental yields in Japan: Tokyo, Osaka and 5 other cities
Average gross rental yield in Japan stands at 4.55% (Q1, 2026). Previously, in Q3 2025, the rental yield was 4.34%.
Cities and areas compared
- Tokyo
- Osaka
- Yokohama
- Fukuoka
- Sapporo
- Kobe
- Kawasaki
Historical Rental Yields in Japan
| TOKYO - Apartments | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Central City | |||
| Studio | $291,500 | $790 | 3.25% |
| 1-Bedroom | $572,800 | $1,340 | 2.81% |
| 2-Bedroom | $1,005,800 | $2,040 | 2.43% |
| 3-Bedroom | $1,330,400 | $2,860 | 2.58% |
| Eastern 23 Wards | |||
| Studio | $141,000 | $540 | 4.60% |
| 1-Bedroom | $241,600 | $860 | 4.27% |
| 2-Bedroom | $329,700 | $1,500 | 5.46% |
| 3-Bedroom | $348,800 | $1,370 | 4.71% |
| 4+Bedroom | $521,900 | $1,900 | 4.37% |
| Southern Part of the 23rd Ward | |||
| Studio | $208,800 | $560 | 3.22% |
| 1-Bedroom | $318,200 | $1,030 | 3.88% |
| 2-Bedroom | $512,100 | $1,530 | 3.59% |
| 3-Bedroom | $590,700 | $1,910 | 3.88% |
| Western Part of the 23rd Ward | |||
| Studio | $197,300 | $470 | 2.86% |
| 1-Bedroom | $241,300 | $860 | 4.28% |
| 2-Bedroom | $336,100 | $1,200 | 4.28% |
| 3-Bedroom | $444,300 | $1,470 | 3.97% |
| 4+Bedroom | $508,000 | $1,780 | 4.20% |
| Northern Part of the 23rd Ward | |||
| Studio | $126,000 | $510 | 4.86% |
| 1-Bedroom | $263,500 | $860 | 3.92% |
| 2-Bedroom | $337,300 | $1,270 | 4.52% |
| 3-Bedroom | $448,100 | $1,590 | 4.26% |
| Tokyo (all locations) | |||
| Studio | $183,300 | $480 | 3.14% |
| 1-Bedroom | $362,800 | $860 | 2.84% |
| 2-Bedroom | $463,400 | $1,220 | 3.16% |
| 3-Bedroom | $514,800 | $1,480 | 3.45% |
| 4+Bedroom | $572,500 | $1,790 | 3.75% |
| Tokyo avg. Rental Yields | 3.27% | ||
| OSAKA - Apartments | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Kita-ku | |||
| 1-Bedroom | $574,800 | $760 | 1.59% |
| 2-Bedroom | $763,900 | $1,180 | 1.85% |
| 3-Bedroom | $635,300 | $1,590 | 3.00% |
| Nishi-ku | |||
| 1-Bedroom | $324,600 | $790 | 2.92% |
| 2-Bedroom | $517,800 | $1,110 | 2.57% |
| 3-Bedroom | $789,300 | $1,530 | 2.33% |
| Joto-ku | |||
| 2-Bedroom | $140,000 | $740 | 6.34% |
| 3-Bedroom | $225,000 | $820 | 4.37% |
| Chuo-ku | |||
| Studio | $136,900 | $470 | 4.12% |
| 1-Bedroom | $371,800 | $800 | 2.58% |
| 2-Bedroom | $628,900 | $1,180 | 2.25% |
| Osaka (all locations) | |||
| Studio | $104,700 | $390 | 4.47% |
| 1-Bedroom | $146,300 | $550 | 4.51% |
| 2-Bedroom | $206,200 | $820 | 4.77% |
| 3-Bedroom | $221,500 | $920 | 4.98% |
| 4+Bedroom | $253,400 | $1,090 | 5.16% |
| Osaka avg. Rental Yields | 4.78% | ||
| YOKOHAMA - Apartments | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Yokohama (all locations) | |||
| 1-Bedroom | $148,600 | $540 | 4.36% |
| 2-Bedroom | $190,900 | $690 | 4.34% |
| 3-Bedroom | $222,200 | $930 | 5.02% |
| 4+Bedroom | $272,400 | $1,400 | 6.17% |
| Yokohama avg. Rental Yields | 4.97% | ||
| FUKUOKA - Apartments | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Fukuoka (all locations) | |||
| 1-Bedroom | $148,100 | $510 | 4.13% |
| 2-Bedroom | $173,800 | $730 | 5.04% |
| 3-Bedroom | $222,700 | $850 | 4.58% |
| 4+Bedroom | $230,100 | $1,020 | 5.32% |
| Fukuoka avg. Rental Yields | 4.77% | ||
| SAPPORO - Apartments | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Sapporo (all locations) | |||
| 2-Bedroom | $114,200 | $390 | 4.10% |
| 3-Bedroom | $158,500 | $640 | 4.85% |
| 4+Bedroom | $161,700 | $830 | 6.16% |
| Sapporo avg. Rental Yields | 5.03% | ||
| KOBE - Apartments | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Kobe (all locations) | |||
| 1-Bedroom | $132,000 | $440 | 4.00% |
| 2-Bedroom | $170,600 | $470 | 3.31% |
| 3-Bedroom | $173,700 | $540 | 3.73% |
| 4+Bedroom | $179,500 | $935 | 6.25% |
| Kobe avg. Rental Yields | 4.32% | ||
| KAWASAKI - Apartments | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Center | |||
| 2-Bedroom | $234,800 | $890 | 4.55% |
| 3-Bedroom | $311,900 | $1,240 | 4.77% |
| Kawasaki (all locations) | |||
| 1-Bedroom | $171,200 | $610 | 4.28% |
| 2-Bedroom | $215,200 | $840 | 4.68% |
| 3-Bedroom | $291,500 | $1,050 | 4.32% |
| 4+Bedroom | $292,700 | $1,430 | 5.86% |
| Kawasaki avg. Rental Yields | 4.71% | ||
| 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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View the full rental yield dataset (2022 - 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 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.
