Gangnam One-Room Monthly Rent Hits 1.02 Million Won... Most Expensive in Seoul for 13 Consecutive Months [Real Estate AtoZ]

Average Monthly Rent for One-Room Apartments (Up to 33 sqm) in Multi-Family and Multi-Unit Buildings

Seoul Sees a 60,000 Won Drop in June, But Gangnam-gu Rises by 50,000 Won

In June, the average monthly rent for a one-room apartment in Gangnam-gu, Seoul, once again exceeded 1 million won, following a similar trend observed in March. While the average monthly rent across Seoul dropped by 60,000 won over the past month, Gangnam-gu saw an increase of 50,000 won, highlighting the pronounced strength of Gangnam even in the one-room market.

According to “Dabangyeojido,” a report published on the 28th by the real estate information platform Dabang, the average monthly rent in June for one-room apartments (multi-family·multi-unit buildings) of 33 square meters or less in Gangnam-gu reached 1.02 million won, which is a 5.1% increase from 970,000 won the previous month.

During the same period, the average monthly rent in Seoul declined from 700,000 won to 640,000 won, marking an 8.2% drop. This is the largest decrease so far this year and the lowest level from January to June. In contrast, Gangnam-gu’s monthly rent stood at 158% of the Seoul average, the highest among the 25 districts.

In March, Gangnam-gu's monthly rent surpassed 1 million won for the first time this year. Although it fell to 930,000 won in April, it rebounded to 970,000 won in May and climbed further to 1.02 million won in June. Compared to the Seoul average, the ratios were 141% in March, 134% in April, 138% in May, and 158% in June, showing an expanding gap.

Since June of last year, Gangnam-gu has maintained the highest average monthly rent among all Seoul districts for 13 consecutive months. Following Gangnam-gu, the next most expensive areas in terms of monthly rent were Seongdong-gu at 860,000 won (134% of the Seoul average), Yongsan-gu at 840,000 won (130%), Dongdaemun-gu at 750,000 won (116%), and Seocho-gu at 740,000 won (116%). The most affordable area was Gangbuk-gu, at 390,000 won. This represents a difference of 630,000 won from Gangnam-gu—about 2.6 times higher.

While Gangnam-gu had the highest monthly rent, the district with the highest average jeonse deposit was Seocho-gu. Seocho-gu’s average jeonse deposit increased by 2.7% from the previous month to 286.85 million won, ranking as the highest among Seoul’s 25 districts for the 11th consecutive month.

Jongno-gu exhibited the largest increase among Seoul districts. The average jeonse deposit in Jongno-gu surged from 121.75 million won in May to 235.63 million won in June, an increase of 113.88 million won (93.5%) in just one month. Zigbang explained, “This likely reflects transactions of newly built properties that command higher deposits.”

For this survey, monthly rents were calculated using transactions with deposits under 100 million won, converted to a standardized deposit of 10 million won to facilitate comparison. This approach allows for direct comparison of monthly rents by aligning deposit amounts, which vary from contract to contract, to the same condition.

This content was produced with the assistance of AI translation services.