Japan Rent Monitor, July 2026: Greater Tokyo Studios Ease a Fourth Month to ¥100,350 as Family Units Set a Record ¥162,546
- Listed rents for studio-type units across Greater Tokyo fell from ¥100,574 in June to ¥100,350 in July, down ¥224 (-0.2%) and a fourth consecutive slip, but still above ¥100,000.
- Family-type listed rents rose from ¥161,230 to ¥162,546, up ¥1,316 (+0.8%) and a record for this series.
- Year on year, studios are up 17.6% (19.2% last month) and family units 15.8% (16.4%) — both still double digit, but decelerating together.
- From April's peak of ¥101,250, studios have given back ¥900 or 0.9%; family units added ¥2,079 over the same stretch.
- In the Kansai region, studios went from ¥65,726 to ¥65,800 (+¥74, +0.1%), up 9.0% on the year, and family units from ¥90,459 to ¥90,896, up 10.1%.
- Greater Tokyo family rents are 1.79 times Kansai's — the same size of home costs ¥71,650 a month less in the Osaka region.
- Against the January 2020 baseline: Greater Tokyo studios +46.6%, family units +79.8%, Kansai studios +26.5%.
- Caveat: these are average listed rents, not contracted rents, and exclude key money, deposits and other upfront costs.
Listed rents for studio-type units across Greater Tokyo were ¥100,574 in June and ¥100,350 in July, down ¥224 or 0.2% and a fourth consecutive slip. Last month we noted the first break above ¥100,000 followed by two months of decline; four months on, the line still has not fallen back through that threshold, so March's move looks like it has held.
Family-type units are another story: ¥161,230 to ¥162,546, up ¥1,316 or 0.8% and a record for this series. The first chart puts both Greater Tokyo lines together — studios flattening out after April's peak, family units barely pausing.
Year on year, studios are up 17.6% and family units 15.8%, both still double digit but both below last month's 19.2% and 16.4%. The slope is easing even as the family-type level keeps setting records. Against the January 2020 baseline, Greater Tokyo studios are up 46.6% and family units 79.8% — close to a doubling in six and a half years.
The second chart compares Greater Tokyo studios with Kansai studios. Kansai moved from ¥65,726 to ¥65,800, just ¥74 in a month, and is up 9.0% on the year — half the Tokyo pace. Kansai family units went from ¥90,459 to ¥90,896, up 10.1%. Greater Tokyo family rents are 1.79 times Kansai's, so the same home costs ¥71,650 a month less in the Osaka region.
Two caveats. These are listed rents, not contracted rents. And they exclude key money, deposits, agency fees and fire insurance, which typically push the first month's outlay to four to six times the monthly rent.
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