Gero City Housing Market Report 2026
Data updated 2026-11-11 · Source: MLIT transaction price survey, 2005 Q3–2026 Q2 · Transactions in 2025: 40
In short
- 1A long, slow decline
House prices per m² have been falling for a decade, by about 0.5% a year recently.
- 2Outperforming Gifu
Per m², houses here are 68% below the Gifu average.
- 3What a typical purchase costs
Half of all house sales last year were between ¥1.1M and ¥7.8M.
- 4A shrinking population
The population fell 10.1% between 2020 and 2025 (−4.4% for the wider area).
The answers, compared
What does a home cost?
¥3.3M
median house · ¥18k/m²
78% below the Gifu median
19 of 19 areas in Gifu, highest first
Can local earners afford it?
1.1× income
median price ÷ average taxable income
Easier than Gifu (5.7×)
20 of 20 areas in Gifu, highest first
Rent or buy?
11years of rent
median price ÷ a year of median rent
Shorter than Gifu (35)
18 of 20 areas in Gifu, highest first
Are people moving in?
-10.1%
population, 2020–25
Shrinking faster than Gifu (-4.4%)
25 of 26 areas in Gifu, highest first
How risky is it?
8%
chance of strong shaking (6-lower+) in 30 years
Lower than Gifu (29%)
22 of 26 areas in Gifu, highest first
Rent in Gero City
The average private rental costs ¥43k a month (2023), -7.9% since 2018. Gifu: ¥50k
- Rent per m²
- ¥1,131
- median, per month · Gifu: ¥1,148
Source: Statistics Bureau of Japan, Housing and Land Survey 2023. Privately owned rentals (excluding rent-free homes), monthly rent without management fees. These averages include older homes, so they run below asking rents for newly listed units. 810 rented homes.
What the data says
A long, slow decline
House prices per m² have been falling for a decade, by about 0.5% a year recently. Prices are low, but resale values are likely to keep easing, so buy here to live, not as an investment.
Outperforming Gifu
Per m², houses here are 68% below the Gifu average. The discount has shrunk from 73% ten years ago, so Gero City is catching up with its surroundings.
What a typical purchase costs
Half of all house sales last year were between ¥1.1M and ¥7.8M. Listings outside that range are either unusual properties or worth a closer look.
A shrinking population
The population fell 10.1% between 2020 and 2025 (−4.4% for the wider area). More people moved out than in during 2025 (about 10.4 per 1,000 residents), which weakens long-term housing demand.
Many abandoned homes
19.7% of homes were empty in 2023 (16.1% for the wider area), and 14.8% were empty without being for rent, for sale or used as second homes. That is a high share of truly abandoned homes (akiya), a sign of weak demand. Cheap houses are easy to find, but resale can be slow.
Lower earthquake risk
The government's seismic model gives a 8% chance of shaking of intensity 6-lower or stronger in the next 30 years (29% for the wider area). This is low by Japanese standards, although no part of Japan is free of earthquake risk.
Local incomes are below average
Taxpayers here reported an average taxable income of ¥3.0m in 2023 (¥3.5m for the wider area). That is +20% since 2014. Averages are pulled up by a few very high earners, so a typical household earns less than this.
Living in Gero City: people, homes and risks
- Population 2025
- 27,350
- -10.1% since 2020
- Gifu: -4.4%
- Net moves in 2025
- -285
- -10.42 per 1,000 residents
- Gifu: -2.39
- Vacant homes (2023)
- 19.7%
- 14.8% empty and not for rent or sale
- Gifu: 16.1%
- Median rent (2023)
- ¥25k
- per month, all rented homes
- Gifu: ¥48k
- Strong earthquake risk
- 8.1%
- chance of shaking of intensity 6-lower or more within 30 years
- Gifu: 28.6%
- Average income per taxpayer
- ¥3.0M
- taxable income in 2023
- Gifu: ¥3.5M
- Daytime population
- 100
- people here by day per 100 residents (2020 census)
- Foreign residents
- 3.3%
- 941 registered residents in 2024
- Gifu: 3.7%
- Clinics
- 11.0
- per 10,000 residents; 3 hospitals, 14 dental clinics (2020)
- Gifu: 8.6
- Official land price 2026
- ¥25k/m²
- -1.0% in a year · – in 5 years
- Gifu: ¥39k/m²
- Flood exposure
- 33.3%
- of 3 benchmark sites in a worst-case flood zone (0.0% 3 m or deeper)
- Gifu: 62.5%
- Landslide exposure
- 66.7%
- of 3 benchmark sites in a landslide warning area
- Gifu: 3.4%
Check flood, landslide and tsunami zones for a specific address on the government hazard map ↗
Sources: 2025 Census (preliminary), 2025 Internal Migration Report, 2023 Housing and Land Survey (Statistics Bureau of Japan); J-SHIS seismic hazard model (NIED, 2024); Land Price Publication (MLIT); recorded crime: Tokyo Metropolitan Police Department (Tokyo only); incomes: Ministry of Internal Affairs taxation survey via the Statistics Bureau's municipal indicators; foreign residents: Basic Resident Register; medical facilities and station passengers: MLIT National Land Numerical Information. Earthquake probability is measured at the municipal center.
Example sales in Gero City
Real transactions from the last four quarters, picked near the lower (20th percentile), middle and upper (80th percentile) price points. Locations are shown at district level, as published by MLIT.
House
¥1.0M
¥7k/m²
- Osakachoosakamachi
- Hida Osaka · 11 min walk
- Land 190 m² · floor 140 m²
- Built 1998 (28 yrs) · Wood
¥3.0M
¥21k/m²
- Ogawa
- Gero · 24 min walk
- Land 510 m² · floor 145 m²
- Built 1995 (31 yrs) · Wood
¥16.0M
¥188k/m²
- Hagiwarachonishiueda
- Gero
- Land 350 m² · floor 85 m²
- Built 1987 (39 yrs)
Show data table
| Year | House |
|---|---|
| 2009 | ¥5.7M |
| 2010 | – |
| 2011 | ¥7.4M |
| 2012 | – |
| 2013 | ¥5.8M |
| 2014 | ¥6.3M |
| 2015 | ¥2.5M |
| 2016 | ¥3.5M |
| 2017 | ¥3.0M |
| 2018 | ¥2.6M |
| 2019 | ¥3.0M |
| 2020 | ¥5.0M |
| 2021 | ¥3.0M |
| 2022 | – |
| 2023 | ¥3.6M |
| 2024 | ¥5.4M |
| 2025 | ¥3.3M |
Show data table
| Year | House | Land |
|---|---|---|
| 2009 | ¥59k/m² | ¥13k/m² |
| 2010 | – | ¥12k/m² |
| 2011 | ¥50k/m² | ¥10k/m² |
| 2012 | – | ¥9k/m² |
| 2013 | ¥30k/m² | ¥8k/m² |
| 2014 | ¥41k/m² | ¥7k/m² |
| 2015 | ¥18k/m² | ¥9k/m² |
| 2016 | ¥40k/m² | ¥9k/m² |
| 2017 | ¥22k/m² | ¥13k/m² |
| 2018 | ¥39k/m² | – |
| 2019 | ¥23k/m² | ¥8k/m² |
| 2020 | ¥33k/m² | – |
| 2021 | ¥26k/m² | ¥8k/m² |
| 2022 | – | ¥4k/m² |
| 2023 | ¥36k/m² | ¥5k/m² |
| 2024 | ¥36k/m² | ¥3k/m² |
| 2025 | ¥18k/m² | – |
Prices near train stations in Gero City
Sales from 2023–2025, grouped by nearest station.
| Station | Median used condo price | Condo price per m² | Median house price (land + building) | Walk (min) | Sales | Daily passengers (2023) |
|---|---|---|---|---|---|---|
| Gero (下呂) | – | – | ¥4.5M | 13 | 28 | 1,638+2% vs 2019 |
| Hida Kanayama (飛騨金山) | – | – | ¥2.6M | 19 | 16 | 281-21% vs 2019 |
| Hida Hagiwara (飛騨萩原) | – | – | ¥7.7M | 14 | 11 | 578-25% vs 2019 |
How much does a house cost in Gero City?
The median house sale, including the land, was ¥3.3M in 2025 across 24 sales.
About this data
Figures are medians of real transactions reported to Japan's Ministry of Land, Infrastructure, Transport and Tourism (MLIT) through its quarterly price survey. House prices per m² divide the total price (land and building) by the floor area. Medians based on fewer than 20 sales are not shown. The latest quarters are preliminary and are revised as more survey responses arrive.
Information only, not investment advice.