Average Monthly Rent for Seoul Studio Apartments Hits 625,000 Won, Up 7.7% Year-on-Year

Average Maintenance Fees Reach 84,000 Won, Up 10.9% Year-on-Year
Rents Rise at 9 Out of 10 Major Universities Except Sungkyunkwan University
Ewha Womans University Area Posts Highest Average Rent and Maintenance Fee

Last month, the average monthly rent for a studio apartment near major universities in Seoul, with a security deposit set at 10 million won, recorded 625,000 won. This marks a 7.7% increase compared to the same period last year.

On August 11, Dabangs, a real estate information platform, analyzed the average monthly rent and maintenance fees for studio apartments near 10 major universities in Seoul. The results showed that, based on a 10 million won deposit, the average monthly rent for a studio (with a floor area of 33㎡ or less) was 625,000 won—up 7.7% from 581,000 won in the same month last year. During that same period, average maintenance fees also climbed 10.9%, rising from 75,000 won to 84,000 won.

Prices have also risen since the beginning of the year. In January, Dabangs recorded the average monthly rent for studio apartments near major university areas in Seoul at 622,000 won, and the average maintenance fee at 82,000 won. Compared to July, just before the start of the second semester, the average monthly rent increased by 3,000 won (0.5%) and the average maintenance fee increased by 2,000 won (2.4%).

A view of a townhouse and multiplex complex in downtown Seoul. Photo by Yonhap News

Looking at the increases by area, the average monthly rent near Seoul National University saw the largest jump among the 10 universities, rising by 26% from 423,000 won last year to 533,000 won this year. The area near Hankuk University of Foreign Studies followed, with rent rising from 582,000 won to 670,000 won (15.1%), and the area near Yonsei University saw an increase from 614,000 won to 678,000 won (10.4%). Meanwhile, the area near Chung-Ang University experienced a rise from 477,000 won to 522,000 won (9.4%), and rent near Hanyang University increased from 575,000 won to 628,000 won (9.2%). In contrast, the area near Sungkyunkwan University was the only one among the ten surveyed to see a decline, with the average monthly rent decreasing by 4.5% from 576,000 won last year to 550,000 won this year.

The area with the highest increase in average maintenance fees was near Chung-Ang University, where the fee rose 34.2%, from 76,000 won last year to 102,000 won this year. Only the area near Sogang University saw a decrease, as average maintenance fees fell by 3.1%, from 64,000 won to 62,000 won year-on-year.

The highest average monthly rent and maintenance fee were both recorded in the area near Ewha Womans University. Last month, the average monthly rent in this area was 767,000 won and the average maintenance fee was 103,000 won—levels more than 20% higher than the average for major university areas in Seoul.

A representative from Dabangs explained, "Driven by the increase in single-person households and the resulting higher demand for small housing, there is an overall upward trend in both rents and maintenance fees for studio apartments in university areas."

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