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Average monthly rent in Seoul rises $30 in May, steepest rise so far this year

Published: 26 Jun. 2025, 13:13

A passerby walks past a real estate agency displaying rental listings in Seoul on June 23 as the city undergoes a sharp rise in housing prices. [YONHAP]

The average monthly rent for a one-room apartment in Seoul shot up by 40,000 won ($30) in May from the previous month — the sharpest rise this year — as prices for even the city’s most modest homes grow increasingly out of reach.

The average monthly rent for one-room apartments in Seoul climbed to 720,000 won in May.

The figure is based on one-room apartments under 33 square meters (355 square feet), with a standard deposit of 10 million won, according to a report released by real estate brokerage platform Dabang on Thursday.

By district, Yongsan topped the list with an average monthly rent of 1.02 million won — 141 percent of the citywide average of 720,000 won.

It was followed by Gangnam District at 127 percent, Seocho and Seongdong at 112 percent, Dongjak at 110 percent, Jung at 107 percent, Gangseo and Jungnang at 106 percent, Geumcheon and Yeongdeungpo at 105 percent and Gangdong at 102 percent. A total of 11 districts recorded higher-than-average rents.

Jeonse — long-term deposits in lieu of monthly rent — prices also rose.

The average jeonse deposit for one-room apartments in May reached 218.41 million won, up 5.87 million won, or 2.8 percent, from the previous month.

Seocho District remained the most expensive for the fifth consecutive month, with an average deposit of 272.58 million won. That’s 54.17 million won higher than the citywide average, or 125 percent of it.

Gangnam followed at 119 percent, then Gwangjin and Yongsan at 109 percent, Jung at 104 percent, Seongdong and Songpa at 102 percent and Mapo at 101 percent — totaling eight districts with above-average jeonse prices.

Dabang’s analysis was based on actual transactions in May. Average monthly rents were calculated using rental contracts with deposits under 100 million won, while average jeonse prices included all deposit-based transactions.

Translated from the JoongAng Ilbo using generative AI and edited by Korea JoongAng Daily staff.
BY HYEON YE-SEUL [[email protected]]