Miyagi Housing Market 2026: Sendai's Land Has Recovered Most of Its Bubble Losses
Data updated 2026-11-11 · Source: MLIT transaction price survey, 2005 Q3–2026 Q2 · Transactions in 2025: 4,278
In short
- 1Land prices have nearly come back
On the government's fixed benchmark sites, Miyagi's residential land rose about 21% over five years and 41% over ten, and is now only 19% below its 1991 level, one of the strongest recoveries in Japan.
- 2Condos are accelerating, from a low base
Condo prices per m² rose about 3.4% a year over the last five years, up from 1.5% before.
- 3A shrinking prefecture around a stable city
Miyagi's population fell 3.2% between 2020 and 2025, and more people left than arrived in 2025.
- 4Houses bottom out at about 27 years
Houses lose about 60% of their per-m² value by 27 years old and then level off at land value.
The answers, compared
What does a home cost?
¥20.0M
median used condo · ¥320k/m²
43% below the Japan median
14 of 47 prefectures, highest first
Are prices rising?
+17.9%
over 5 years
Slower than Japan (+33.4%)
25 of 47 prefectures, highest first
Can local earners afford it?
5.7× income
median price ÷ average taxable income
Easier than Japan (6.6×)
15 of 47 prefectures, highest first
Rent or buy?
32years of rent
median price ÷ a year of median rent
Shorter than Japan (38)
21 of 47 prefectures, highest first
Are people moving in?
-3.2%
population, 2020–25
Shrinking faster than Japan (-2.5%)
13 of 47 prefectures, highest first
How risky is it?
26%
chance of strong shaking (6-lower+) in 30 years
Lower than Japan (38%)
23 of 47 prefectures, highest first
Rent in Miyagi
The average private rental costs ¥57k a month (2023), +2.9% since 2018. Japan: ¥65k
| Floor area | Typical layout | Average rent / month | MiyagiJapan |
|---|---|---|---|
| under 30 m² studio / 1K | studio / 1K | ¥46k vs 2018 +4.0% · Japan: ¥53k | |
| 30–49 m² 1LDK / 2DK | 1LDK / 2DK | ¥56k vs 2018 +3.6% · Japan: ¥64k | |
| 50–69 m² 2LDK / 3DK | 2LDK / 3DK | ¥65k vs 2018 +2.7% · Japan: ¥75k | |
| 70–99 m² 3LDK / family | 3LDK / family | ¥77k vs 2018 +6.9% · Japan: ¥88k | |
| 100–149 m² mostly houses | mostly houses | ¥69k vs 2018 -1.5% · Japan: ¥84k | |
| 150 m² + mostly houses | mostly houses | ¥61k vs 2018 -4.4% · Japan: ¥91k |
- Rent per m²
- ¥1,469
- median, per month · Japan: ¥1,598
- The median used condo (¥20.0M, 65 m²) costs about 26 years of average rent for a similar-sized home (¥65k a month).
- Excludes management fees, repair reserve, property tax and mortgage interest.
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. 294,000 rented homes.
Land prices have nearly come back
On the government's fixed benchmark sites, Miyagi's residential land rose about 21% over five years and 41% over ten, and is now only 19% below its 1991 level, one of the strongest recoveries in Japan. Post-2011 reconstruction, the extended Sendai subway and steady demand for homes in Sendai have driven the rise.
Condos are accelerating, from a low base
Condo prices per m² rose about 3.4% a year over the last five years, up from 1.5% before. Miyagi's condos are still cheaper than the national average, and the gap has widened over the decade because the big metros grew faster. Within Sendai, Taihaku Ward (along the Namboku subway line) is up about 34% in five years and Aoba Ward (the center, a government renewal zone) about 23%. Izumi Ward, a popular family area to the north, has grown more slowly.
A shrinking prefecture around a stable city
Miyagi's population fell 3.2% between 2020 and 2025, and more people left than arrived in 2025. Almost all the decline is outside Sendai. Transactions are down about 13% compared with three years earlier.
Houses bottom out at about 27 years
Houses lose about 60% of their per-m² value by 27 years old and then level off at land value. Older condos are much cheaper: pre-1981 buildings sell at a 47% discount to 1980s and 90s ones.
Risks
13% of benchmark sites are in tsunami zones, mostly in coastal Sendai, Natori, Ishinomaki and other towns devastated in 2011, where much housing has since moved to higher ground. The chance of 6-lower shaking within 30 years is about 26%, below the national average.
Living in Miyagi: people, homes and risks
- Population 2025
- 2,227,240
- -3.2% since 2020
- Japan: -2.5%
- Net moves in 2025
- -2,046
- -0.92 per 1,000 residents
- Vacant homes (2023)
- 12.4%
- 4.6% empty and not for rent or sale
- Japan: 13.8%
- Median rent (2023)
- ¥52k
- per month, all rented homes
- Japan: ¥57k
- Strong earthquake risk
- 26.3%
- chance of shaking of intensity 6-lower or more within 30 years
- Japan: 38.4%
- Average income per taxpayer
- ¥3.5M
- taxable income in 2023
- Japan: ¥3.9M
- Foreign residents
- 1.3%
- 29,286 registered residents in 2024
- Japan: 3.0%
- Clinics
- 7.7
- per 10,000 residents; 138 hospitals, 1,063 dental clinics (2020)
- Japan: 8.5
- Official land price 2026
- ¥78k/m²
- +2.8% in a year · +21.0% in 5 years
- Japan: ¥74k/m²
- Flood exposure
- 36.2%
- of 549 benchmark sites in a worst-case flood zone (2.9% 3 m or deeper)
- Japan: 42.6%
- Tsunami exposure
- 12.8%
- of 549 benchmark sites in a tsunami inundation zone
- Japan: 7.8%
- Landslide exposure
- 1.5%
- of 549 benchmark sites in a landslide warning area
- Japan: 2.6%
Urban renewal zones
Areas designated by the national government for priority redevelopment, with relaxed planning rules and financial support for large projects.
- Central Sendai · 186 ha · designated 2002 · Specified zone (highest priority)
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 Miyagi
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.
Condo
¥11.0M
¥550k/m²
- Ichibancho, Aoba Ward, Sendai City
- Aoba Dori Ichibancho · 6 min walk
- 1K · 20 m²
- Built 2003 (23 yrs) · RC
¥22.0M
¥314k/m²
- Miyagino, Miyagino Ward, Sendai City
- Miyaginohara · 8 min walk
- 3LDK · 70 m²
- Built 1988 (38 yrs) · RC
¥36.0M
¥554k/m²
- Kamisugi, Aoba Ward, Sendai City
- Kita Yobancho · 14 min walk
- 3LDK · 65 m²
- Built 2000 (26 yrs) · RC
House
¥8.0M
¥80k/m²
- Kawadaira, Aoba Ward, Sendai City
- Kita Sendai
- Land 195 m² · floor 100 m²
- Built 1974 (52 yrs) · Wood
¥25.0M
¥192k/m²
- Nijinooka, Izumi Ward, Sendai City
- Yaotome · 24 min walk
- Land 250 m² · floor 130 m²
- Built 1987 (39 yrs) · Wood
¥44.0M
¥419k/m²
- Shimizunuma, Miyagino Ward, Sendai City
- Miyaginohara · 11 min walk
- Land 185 m² · floor 105 m²
- Built 2026 (0 yrs) · Wood
Show data table
| Year | Condo | House |
|---|---|---|
| 2005 | – | – |
| 2006 | ¥9.7M | ¥22.0M |
| 2007 | ¥10.0M | ¥21.0M |
| 2008 | ¥9.9M | ¥20.0M |
| 2009 | ¥9.7M | ¥18.0M |
| 2010 | ¥9.0M | ¥19.0M |
| 2011 | ¥9.0M | ¥19.0M |
| 2012 | ¥11.0M | ¥22.0M |
| 2013 | ¥14.0M | ¥23.0M |
| 2014 | ¥15.0M | ¥24.0M |
| 2015 | ¥15.0M | ¥25.0M |
| 2016 | ¥16.0M | ¥26.0M |
| 2017 | ¥16.0M | ¥27.0M |
| 2018 | ¥17.0M | ¥26.0M |
| 2019 | ¥16.0M | ¥26.0M |
| 2020 | ¥17.0M | ¥27.0M |
| 2021 | ¥19.0M | ¥26.0M |
| 2022 | ¥18.0M | ¥28.0M |
| 2023 | ¥18.0M | ¥26.0M |
| 2024 | ¥19.0M | ¥26.0M |
| 2025 | ¥20.0M | ¥26.0M |
| 2026 (partial) | ¥21.0M | ¥25.0M |
Show data table
| Year | Condo | House | Land |
|---|---|---|---|
| 2005 | – | – | ¥9k/m² |
| 2006 | ¥165k/m² | ¥162k/m² | ¥28k/m² |
| 2007 | ¥171k/m² | ¥156k/m² | ¥30k/m² |
| 2008 | ¥159k/m² | ¥148k/m² | ¥30k/m² |
| 2009 | ¥154k/m² | ¥136k/m² | ¥29k/m² |
| 2010 | ¥144k/m² | ¥143k/m² | ¥30k/m² |
| 2011 | ¥147k/m² | ¥138k/m² | ¥29k/m² |
| 2012 | ¥183k/m² | ¥171k/m² | ¥26k/m² |
| 2013 | ¥220k/m² | ¥184k/m² | ¥24k/m² |
| 2014 | ¥236k/m² | ¥200k/m² | ¥24k/m² |
| 2015 | ¥250k/m² | ¥210k/m² | ¥25k/m² |
| 2016 | ¥257k/m² | ¥217k/m² | ¥27k/m² |
| 2017 | ¥263k/m² | ¥223k/m² | ¥27k/m² |
| 2018 | ¥267k/m² | ¥225k/m² | ¥30k/m² |
| 2019 | ¥253k/m² | ¥211k/m² | ¥28k/m² |
| 2020 | ¥271k/m² | ¥229k/m² | ¥32k/m² |
| 2021 | ¥290k/m² | ¥224k/m² | ¥34k/m² |
| 2022 | ¥308k/m² | ¥221k/m² | ¥39k/m² |
| 2023 | ¥295k/m² | ¥209k/m² | ¥40k/m² |
| 2024 | ¥300k/m² | ¥210k/m² | ¥39k/m² |
| 2025 | ¥320k/m² | ¥209k/m² | ¥55k/m² |
| 2026 (partial) | ¥323k/m² | ¥194k/m² | ¥40k/m² |
Show data table
| Building age (years) | Condo | House |
|---|---|---|
| 0 | – | ¥326k/m² |
| 1 | ¥707k/m² | ¥300k/m² |
| 2 | ¥627k/m² | ¥344k/m² |
| 3 | ¥657k/m² | ¥338k/m² |
| 4 | ¥627k/m² | ¥274k/m² |
| 5 | ¥614k/m² | ¥281k/m² |
| 6 | ¥686k/m² | ¥277k/m² |
| 7 | ¥594k/m² | ¥265k/m² |
| 8 | ¥608k/m² | ¥248k/m² |
| 9 | ¥586k/m² | ¥211k/m² |
| 10 | ¥593k/m² | ¥231k/m² |
| 11 | ¥496k/m² | ¥223k/m² |
| 12 | ¥550k/m² | ¥224k/m² |
| 13 | ¥503k/m² | ¥214k/m² |
| 14 | ¥453k/m² | ¥247k/m² |
| 15 | ¥443k/m² | ¥211k/m² |
| 16 | ¥427k/m² | ¥200k/m² |
| 17 | ¥427k/m² | ¥208k/m² |
| 18 | ¥411k/m² | ¥161k/m² |
| 19 | ¥448k/m² | ¥190k/m² |
| 20 | ¥387k/m² | ¥150k/m² |
| 21 | ¥350k/m² | ¥160k/m² |
| 22 | ¥352k/m² | ¥198k/m² |
| 23 | ¥343k/m² | ¥163k/m² |
| 24 | ¥323k/m² | ¥154k/m² |
| 25 | ¥293k/m² | ¥125k/m² |
| 26 | ¥286k/m² | ¥127k/m² |
| 27 | ¥277k/m² | ¥136k/m² |
| 28 | ¥282k/m² | ¥135k/m² |
| 29 | ¥257k/m² | ¥118k/m² |
| 30 | ¥240k/m² | ¥133k/m² |
| 31 | ¥216k/m² | ¥142k/m² |
| 32 | ¥214k/m² | ¥127k/m² |
| 33 | ¥200k/m² | ¥123k/m² |
| 34 | ¥200k/m² | ¥126k/m² |
| 35 | ¥240k/m² | ¥126k/m² |
| 36 | ¥245k/m² | ¥121k/m² |
| 37 | ¥255k/m² | ¥117k/m² |
| 38 | ¥234k/m² | ¥123k/m² |
| 39 | ¥244k/m² | ¥105k/m² |
| 40 | ¥217k/m² | ¥100k/m² |
| 41 | ¥252k/m² | ¥103k/m² |
| 42 | ¥220k/m² | ¥108k/m² |
| 43 | ¥231k/m² | ¥103k/m² |
| 44 | ¥229k/m² | ¥82k/m² |
| 45 | ¥177k/m² | ¥108k/m² |
| 46 | ¥125k/m² | ¥70k/m² |
| 47 | ¥172k/m² | ¥93k/m² |
| 48 | ¥136k/m² | ¥65k/m² |
| 49 | ¥128k/m² | ¥62k/m² |
| 50 | ¥118k/m² | ¥53k/m² |
Each line follows buildings from one construction period over time. 1981 is when Japan's current earthquake-resistance standard (shin-taishin) took effect.
Show data table
| Year | 1971-1980 | 1981-2000 | 2001-2010 | 2011-2020 |
|---|---|---|---|---|
| 2006 | ¥91k/m² | ¥162k/m² | ¥300k/m² | – |
| 2007 | ¥88k/m² | ¥169k/m² | ¥278k/m² | – |
| 2008 | ¥67k/m² | ¥157k/m² | ¥294k/m² | – |
| 2009 | ¥58k/m² | ¥138k/m² | ¥267k/m² | – |
| 2010 | ¥62k/m² | ¥129k/m² | ¥267k/m² | – |
| 2011 | ¥73k/m² | ¥141k/m² | ¥275k/m² | – |
| 2012 | ¥91k/m² | ¥167k/m² | ¥300k/m² | – |
| 2013 | ¥105k/m² | ¥200k/m² | ¥317k/m² | – |
| 2014 | ¥131k/m² | ¥217k/m² | ¥357k/m² | – |
| 2015 | ¥122k/m² | ¥233k/m² | ¥346k/m² | – |
| 2016 | ¥157k/m² | ¥233k/m² | ¥371k/m² | ¥507k/m² |
| 2017 | ¥148k/m² | ¥233k/m² | ¥373k/m² | ¥517k/m² |
| 2018 | ¥142k/m² | ¥233k/m² | ¥371k/m² | ¥529k/m² |
| 2019 | ¥163k/m² | ¥229k/m² | ¥369k/m² | ¥520k/m² |
| 2020 | ¥148k/m² | ¥233k/m² | ¥372k/m² | ¥492k/m² |
| 2021 | ¥168k/m² | ¥244k/m² | ¥367k/m² | ¥536k/m² |
| 2022 | ¥140k/m² | ¥270k/m² | ¥438k/m² | ¥600k/m² |
| 2023 | ¥180k/m² | ¥246k/m² | ¥436k/m² | ¥629k/m² |
| 2024 | ¥146k/m² | ¥246k/m² | ¥422k/m² | ¥626k/m² |
| 2025 | ¥140k/m² | ¥262k/m² | ¥429k/m² | ¥669k/m² |
| 2026 (partial) | – | ¥286k/m² | ¥451k/m² | – |
Each line follows buildings from one construction period over time. 1981 is when Japan's current earthquake-resistance standard (shin-taishin) took effect.
Show data table
| Year | 1971-1980 | 1981-2000 | 2001-2010 | 2011-2020 |
|---|---|---|---|---|
| 2006 | ¥100k/m² | ¥128k/m² | ¥245k/m² | – |
| 2007 | ¥86k/m² | ¥124k/m² | ¥243k/m² | – |
| 2008 | ¥85k/m² | ¥104k/m² | ¥244k/m² | – |
| 2009 | ¥76k/m² | ¥100k/m² | ¥238k/m² | – |
| 2010 | ¥78k/m² | ¥110k/m² | ¥229k/m² | ¥272k/m² |
| 2011 | ¥77k/m² | ¥106k/m² | ¥192k/m² | ¥248k/m² |
| 2012 | ¥91k/m² | ¥118k/m² | ¥190k/m² | ¥255k/m² |
| 2013 | ¥91k/m² | ¥131k/m² | ¥193k/m² | ¥260k/m² |
| 2014 | ¥100k/m² | ¥126k/m² | ¥214k/m² | ¥267k/m² |
| 2015 | ¥90k/m² | ¥130k/m² | ¥214k/m² | ¥276k/m² |
| 2016 | ¥100k/m² | ¥139k/m² | ¥195k/m² | ¥280k/m² |
| 2017 | ¥94k/m² | ¥143k/m² | ¥208k/m² | ¥290k/m² |
| 2018 | ¥93k/m² | ¥130k/m² | ¥200k/m² | ¥295k/m² |
| 2019 | ¥100k/m² | ¥126k/m² | ¥200k/m² | ¥290k/m² |
| 2020 | ¥91k/m² | ¥124k/m² | ¥184k/m² | ¥291k/m² |
| 2021 | ¥79k/m² | ¥119k/m² | ¥200k/m² | ¥286k/m² |
| 2022 | ¥82k/m² | ¥135k/m² | ¥200k/m² | ¥281k/m² |
| 2023 | ¥100k/m² | ¥132k/m² | ¥196k/m² | ¥248k/m² |
| 2024 | ¥98k/m² | ¥126k/m² | ¥189k/m² | ¥238k/m² |
| 2025 | ¥68k/m² | ¥117k/m² | ¥189k/m² | ¥253k/m² |
| 2026 (partial) | ¥57k/m² | ¥110k/m² | ¥213k/m² | ¥236k/m² |
Prices by area in Miyagi
Median prices for 2025. Sorted by condo price per m² (or house price per m² where there are few condo sales).
| Area | Condo price per m² | Median used condo price | Median house price (land + building) | Residential land per m² (sales) | Condo 5-yr change |
|---|---|---|---|---|---|
| Taihaku Ward, Sendai City | ¥354k/m² | ¥22.0M | ¥32.0M | ¥110k/m² | +33.7% |
| Aoba Ward, Sendai City | ¥329k/m² | ¥21.0M | ¥32.0M | ¥96k/m² | +23.2% |
| Miyagino Ward, Sendai City | ¥325k/m² | ¥21.0M | ¥39.0M | ¥110k/m² | +10.8% |
| Tagajo City | – | – | ¥34.0M | ¥90k/m² | – |
| Izumi Ward, Sendai City | ¥307k/m² | ¥22.0M | ¥31.0M | ¥93k/m² | +8.2% |
| Rifu Town, Miyagi County | – | – | ¥31.0M | ¥78k/m² | – |
| Wakabayashi Ward, Sendai City | ¥297k/m² | ¥18.5M | ¥42.0M | ¥170k/m² | +2.1% |
| Natori City | – | – | ¥35.0M | ¥91k/m² | – |
| Tomiya City | – | – | ¥32.0M | ¥66k/m² | – |
| Taiwa Town, Kurokawa County | – | – | ¥28.0M | ¥63k/m² | – |
| Iwanuma City | – | – | ¥27.0M | ¥51k/m² | – |
| Higashimatsushima City | – | – | ¥17.0M | – | – |
| Ogawara Town, Shibata County | – | – | ¥14.5M | – | – |
| Osaki City | – | – | ¥16.0M | ¥24k/m² | – |
| Shiogama City | – | – | ¥14.0M | ¥34k/m² | – |
| Ishinomaki City | – | – | ¥11.0M | ¥11k/m² | – |
| Tome City | – | – | ¥12.0M | ¥12k/m² | – |
| Shibata Town, Shibata County | – | – | ¥13.0M | – | – |
| Kakuda City | – | – | ¥8.1M | – | – |
| Kesennuma City | – | – | ¥4.5M | ¥8k/m² | – |
| Watari Town, Watari County | – | – | ¥4.5M | ¥8k/m² | – |
| Shiroishi City | – | – | ¥4.0M | ¥10k/m² | – |
| Kurihara City | – | – | ¥4.8M | ¥5k/m² | – |
| Kami Town, Kami County | – | – | ¥3.0M | – | – |
Prices near train stations in Miyagi
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 |
|---|---|---|---|---|---|
| Izumi Chuo(Miyagi) (泉中央) | ¥22.0M | ¥309k/m² | ¥31.0M | 16 | 964 |
| Kita Sendai (北仙台) | ¥21.0M | ¥329k/m² | ¥29.0M | 10 | 330 |
| Minami Sendai (南仙台) | ¥17.0M | ¥250k/m² | ¥32.0M | 14 | 310 |
| Nagamachi Minami (長町南) | ¥24.0M | ¥358k/m² | ¥25.0M | 11 | 307 |
| Kita Yobancho (北四番丁) | ¥23.0M | ¥369k/m² | ¥110M | 8 | 286 |
| Yaotome (八乙女) | ¥19.5M | ¥296k/m² | ¥28.0M | 10 | 252 |
| Sendai(Miyagi) (仙台) | ¥25.0M | ¥414k/m² | ¥25.0M | 9 | 243 |
| Furukawa (古川) | ¥10.0M | ¥143k/m² | ¥19.0M | 21 | 218 |
| Asahigaoka(Miyagi) (旭ケ丘(宮城)) | ¥15.0M | ¥207k/m² | ¥32.0M | 15 | 215 |
| Kawaramachi(Miyagi) (河原町(宮城)) | ¥16.5M | ¥248k/m² | ¥33.0M | 9 | 161 |
| Oroshimachi(Miyagi) (卸町(宮城)) | ¥15.0M | ¥257k/m² | ¥47.0M | 8 | 153 |
| Dainohara (台原) | ¥17.0M | ¥243k/m² | ¥38.0M | 10 | 146 |
| Ishinomaki (石巻) | ¥8.4M | ¥129k/m² | ¥12.0M | 18 | 136 |
| Kotodai Koen (勾当台公園) | ¥22.0M | ¥367k/m² | ¥150M | 7 | 136 |
| Toshogu (東照宮) | ¥19.0M | ¥283k/m² | ¥39.0M | 11 | 134 |
Used condo prices by layout in Miyagi
Sales from 2023–2025.
| Layout | Median used condo price | Typical size | Sales |
|---|---|---|---|
| 3LDK | ¥24.0M | 70 m² | 1046 |
| 2LDK | ¥20.0M | 60 m² | 366 |
| 4LDK | ¥24.0M | 80 m² | 235 |
| 1K | ¥3.9M | 20 m² | 162 |
| 1LDK | ¥15.0M | 45 m² | 79 |
| 2DK | ¥9.0M | 45 m² | 59 |
| 1DK | ¥7.0M | 30 m² | 57 |
| 3DK | ¥9.8M | 55 m² | 19 |
How much does an apartment cost in Miyagi?
The median used condo (mansion) in Miyagi sold for ¥20.0M in 2025, about ¥320k/m², based on 731 recorded sales.
How much does a house cost in Miyagi?
The median house sale, including the land, was ¥26.0M in 2025 across 2217 sales.
Are property prices in Miyagi going up?
Over the five years to 2025, condo prices per m² changed +17.9% and residential land prices changed +71.9%.
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.