Monthly rents for studio units in Seoul's low-rise multi-unit housing market are climbing sharply even as jeonse deposits fall, adding to housing costs for young adults.
Average monthly rent for studio units of 33 square meters or less in Seoul's low-rise multi-unit buildings stood at 710,000 won in September, according to an analysis by property platform Dabang based on actual transaction prices reported to the Ministry of Land, Infrastructure and Transport. That is up 35,000 won, or 5.2%, from a month earlier. The average jeonse deposit — a lump-sum deposit paid instead of monthly rent — fell 2.37 million won, or 1.1%, over the same period to 219.91 million won.
By district, Gangnam recorded the highest prices for both jeonse and monthly rent. The average jeonse deposit in Gangnam was 287.08 million won, or 131% of the citywide average, up 7.6% from the previous month. Seocho (123%), Gwangjin (109%), Mapo (108%), Yongsan (106%), Yeongdeungpo (103%) and Dongjak (100%) also came in at or above the Seoul average.
Gangnam also led the monthly rent market at 970,000 won, or 138% of the Seoul average, up 10.8% from a month earlier. It was followed by Yongsan (126%), Gwanak (123%), Seongdong (117%), Gwangjin (112%), Seocho (109%), Mapo and Jung (108%), Gangseo and Geumcheon (106%) and Dongjak (102%).
Rent movements diverged across districts depending on whether deals in newly built complexes entered the data. In Gwanak, average monthly rent jumped 30.0% in a single month as transactions in newly built studios increased. In Yongsan, by contrast, prices that had spiked in August on a concentration of deals in new buildings normalized toward typical levels, resulting in a 23.1% decline from the previous month.
The survey covered studio units of 33 square meters or less in low-rise multi-unit buildings traded in Seoul in September 2026. Average monthly rent and average jeonse deposits were calculated using a deposit-to-rent conversion rate on a 10 million won deposit basis. Monthly rent figures were drawn from transactions with deposits of less than 100 million won, while jeonse figures covered all jeonse transactions.