Nara Housing Market 2026: Osaka's Bedroom Towns Are Ageing

Data updated 2026-11-11 · Source: MLIT transaction price survey, 2005 Q3–2026 Q2 · Transactions in 2025: 2,415

In short

1
Nara City is rising, the suburbs are not
Nara's condo prices per m² accelerated to about 5% a year over the last five years.
2
Ageing new towns
Much of northern Nara was built as hilltop "new towns" for Osaka commuters in the 1970s to 1990s.
3
A family market
About 80% of condo sales are three-bedroom family homes.

The answers, compared

What does a home cost?

¥19.0M

median used condo · ¥262k/m²

53% below the Japan median

22 of 47 prefectures, highest first

Are prices rising?

+31.0%

over 5 years

Slower than Japan (+33.4%)

10 of 47 prefectures, highest first

Can local earners afford it?

4.9× income

median price ÷ average taxable income

Easier than Japan (6.6×)

29 of 47 prefectures, highest first

Rent or buy?

30years of rent

median price ÷ a year of median rent

Shorter than Japan (38)

28 of 47 prefectures, highest first

Are people moving in?

-4.2%

population, 2020–25

Shrinking faster than Japan (-2.5%)

21 of 47 prefectures, highest first

How risky is it?

48%

chance of strong shaking (6-lower+) in 30 years

Higher than Japan (38%)

14 of 47 prefectures, highest first

Rent in Nara

The average private rental costs ¥58k a month (2023), +6.7% since 2018. Japan: ¥65k

Floor area	Typical layout	Average rent / month
under 30 m² studio / 1K	studio / 1K	¥41k vs 2018 +3.2% · Japan: ¥53k
30–49 m² 1LDK / 2DK	1LDK / 2DK	¥52k vs 2018 +1.2% · Japan: ¥64k
50–69 m² 2LDK / 3DK	2LDK / 3DK	¥64k vs 2018 +6.3% · Japan: ¥75k
70–99 m² 3LDK / family	3LDK / family	¥82k vs 2018 +19.6% · Japan: ¥88k
100–149 m² mostly houses	mostly houses	¥60k vs 2018 -7.0% · Japan: ¥84k
150 m² + mostly houses	mostly houses	¥58k vs 2018 -5.8% · Japan: ¥91k

Rent per m²: ¥1,259; median, per month · Japan: ¥1,598; The median used condo (¥19.0M, 70 m²) costs about 19 years of average rent for a similar-sized home (¥82k 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. 98,500 rented homes.

Nara City is rising, the suburbs are not

Nara's condo prices per m² accelerated to about 5% a year over the last five years. Nara City is up about 50% and Yamatotakada has roughly doubled on small numbers of sales, while Ikoma and Kashihara have barely moved. On the government's fixed benchmark sites, residential land has slipped slightly over five years and is about two-thirds below its 1991 peak.

Ageing new towns

Much of northern Nara was built as hilltop "new towns" for Osaka commuters in the 1970s to 1990s. Those residents are ageing: Nara's population fell 4.2% between 2020 and 2025 and, unusually, households did not grow at all. 7.7% of homes are abandoned. Older condos in these areas trade at a 54% discount to 1980s and 90s buildings, one of the biggest gaps in Japan, and houses take about 40 years to bottom out in price.

A family market

About 80% of condo sales are three-bedroom family homes. A median condo costs about 30 years of the local median rent.

Hazards

Nara's earthquake risk is moderate to high (about 48% chance of 6-lower shaking in 30 years). Hillside suburbs bring landslide exposure: about 5% of benchmark sites are in landslide warning areas, roughly double the national rate. Historic districts in Nara City also have preservation rules that limit building.

Living in Nara: people, homes and risks

Population 2025: 1,269,180; -4.2% since 2020; Japan: -2.5%
Net moves in 2025: -1,070; -0.84 per 1,000 residents
Vacant homes (2023): 14.6%; 7.7% empty and not for rent or sale; Japan: 13.8%
Median rent (2023): ¥53k; per month, all rented homes; Japan: ¥57k
Strong earthquake risk: 47.5%; chance of shaking of intensity 6-lower or more within 30 years; Japan: 38.4%
Average income per taxpayer: ¥3.8M; taxable income in 2023; Japan: ¥3.9M
Foreign residents: 1.4%; 18,914 registered residents in 2024; Japan: 3.0%
Clinics: 9.7; per 10,000 residents; 77 hospitals, 693 dental clinics (2020); Japan: 8.5
Official land price 2026: ¥66k/m²; -0.1% in a year · -1.5% in 5 years; Japan: ¥74k/m²
Flood exposure: 32.5%; of 385 benchmark sites in a worst-case flood zone (2.3% 3 m or deeper); Japan: 42.6%
Landslide exposure: 4.9%; of 385 benchmark sites in a landslide warning area; Japan: 2.6%

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 Nara

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

Lower-priced2026 Q1

¥9.0M

¥86k/m²

Tezukayama, Nara City
Higashi Ikoma · 29 min walk
3LDK · 105 m²
Built 1991 (35 yrs) · RC

Typical2026 Q2

¥18.0M

¥189k/m²

Ayameikeminami, Nara City
Ayameike · 10 min walk
4LDK · 95 m²
Built 1992 (34 yrs) · RC

Higher-priced2026 Q1

¥33.0M

¥440k/m²

Naizencho, Kashihara City
Yamato Yagi · 8 min walk
3LDK · 75 m²
Built 2005 (21 yrs) · RC

House

Lower-priced2026 Q2

¥4.5M

¥53k/m²

Yanagimotocho, Tenri City
Yanagimoto · 7 min walk
Land 110 m² · floor 85 m²
Built 1988 (38 yrs) · Wood

Typical2026 Q1

¥17.0M

¥155k/m²

Nishitomigaoka, Nara City
Gakuemmae(Nara)
Land 240 m² · floor 110 m²
Built 1970 (56 yrs) · Light steel

Higher-priced2026 Q2

¥35.0M

¥47k/m²

Oaza Minami, Koryo Town, Kitakatsuragi County
Hashio · 7 min walk
Land 750 m² · floor 740 m²
Built 1976 (50 yrs) · Steel

Median transaction price by year2026 so far: treat with caution — The 2026 figure (shaded) is 32% below 2025, but it covers only part of the year and 426 house sales so far. Early-year numbers are often revised and are easily skewed by a few large deals.

Show data table

Year	Condo	House
2007	¥11.0M	¥26.0M
2008	¥12.0M	¥24.0M
2009	¥11.0M	¥23.0M
2010	¥10.0M	¥22.0M
2011	¥11.0M	¥20.0M
2012	¥11.0M	¥21.0M
2013	¥12.0M	¥21.0M
2014	¥12.0M	¥20.0M
2015	¥12.0M	¥20.0M
2016	¥12.0M	¥20.0M
2017	¥14.0M	¥20.0M
2018	¥12.0M	¥20.0M
2019	¥12.0M	¥20.0M
2020	¥13.0M	¥19.0M
2021	¥15.0M	¥18.0M
2022	¥15.0M	¥19.0M
2023	¥16.0M	¥19.0M
2024	¥16.0M	¥17.0M
2025	¥19.0M	¥19.0M
2026 (partial)	¥17.0M	¥13.0M

Median price per m² by yearHouses are the better deal on space — A m² of house floor space costs about 43% less than a m² of condo, even though the house price includes land. If you need room more than convenience, a house buys considerably more space. That gap has widened over the decade as condo prices pulled ahead.

Show data table

Year	Condo	House	Land
2007	¥167k/m²	¥216k/m²	¥67k/m²
2008	¥171k/m²	¥200k/m²	¥66k/m²
2009	¥157k/m²	¥190k/m²	¥62k/m²
2010	¥151k/m²	¥188k/m²	¥62k/m²
2011	¥157k/m²	¥178k/m²	¥61k/m²
2012	¥166k/m²	¥180k/m²	¥57k/m²
2013	¥169k/m²	¥174k/m²	¥59k/m²
2014	¥173k/m²	¥173k/m²	¥53k/m²
2015	¥185k/m²	¥157k/m²	¥57k/m²
2016	¥173k/m²	¥167k/m²	¥57k/m²
2017	¥200k/m²	¥162k/m²	¥56k/m²
2018	¥185k/m²	¥150k/m²	¥55k/m²
2019	¥187k/m²	¥160k/m²	¥55k/m²
2020	¥200k/m²	¥156k/m²	¥54k/m²
2021	¥215k/m²	¥140k/m²	¥54k/m²
2022	¥216k/m²	¥150k/m²	¥57k/m²
2023	¥235k/m²	¥153k/m²	¥54k/m²
2024	¥231k/m²	¥133k/m²	¥61k/m²
2025	¥262k/m²	¥150k/m²	¥61k/m²
2026 (partial)	¥243k/m²	¥104k/m²	¥64k/m²

Price per m² by building age (2021–2025 sales)How condos age here — In recent sales, condos lose about a quarter of their per-m² value by around 12 years old and half by around 24. Prices keep falling by roughly 1.9% a year even after 25 years, so older condos here are cheap for a reason. Check the repair fund and rebuild plans.Houses bottom out at around 40 years — House prices per m² drop about 73% from new by age 40, then flatten, because by then buyers are mostly paying for the land. A house older than that costs little more than its plot, a good option if you plan to renovate or rebuild.

Show data table

Building age (years)	Condo	House
0	–	¥320k/m²
1	¥557k/m²	¥292k/m²
2	¥540k/m²	¥345k/m²
3	–	¥290k/m²
4	¥504k/m²	¥292k/m²
5	¥517k/m²	¥276k/m²
6	¥506k/m²	¥277k/m²
7	¥519k/m²	¥248k/m²
8	¥484k/m²	¥271k/m²
9	¥494k/m²	¥257k/m²
10	¥529k/m²	¥213k/m²
11	¥550k/m²	¥238k/m²
12	¥376k/m²	¥250k/m²
13	¥292k/m²	¥200k/m²
14	¥373k/m²	¥227k/m²
15	¥333k/m²	¥205k/m²
16	¥323k/m²	¥191k/m²
17	¥333k/m²	¥190k/m²
18	¥360k/m²	¥194k/m²
19	¥318k/m²	¥171k/m²
20	¥278k/m²	¥153k/m²
21	¥293k/m²	¥170k/m²
22	¥288k/m²	¥165k/m²
23	¥292k/m²	¥152k/m²
24	¥231k/m²	¥138k/m²
25	¥214k/m²	¥124k/m²
26	¥200k/m²	¥135k/m²
27	¥172k/m²	¥108k/m²
28	¥187k/m²	¥120k/m²
29	¥215k/m²	¥98k/m²
30	¥143k/m²	¥104k/m²
31	¥129k/m²	¥105k/m²
32	¥120k/m²	¥108k/m²
33	¥146k/m²	¥100k/m²
34	¥143k/m²	¥102k/m²
35	¥144k/m²	¥105k/m²
36	¥200k/m²	¥91k/m²
37	¥131k/m²	¥96k/m²
38	¥148k/m²	¥90k/m²
39	¥161k/m²	¥78k/m²
40	¥161k/m²	¥91k/m²
41	¥194k/m²	¥71k/m²
42	¥146k/m²	¥57k/m²
43	¥91k/m²	¥73k/m²
44	¥150k/m²	¥64k/m²
45	¥108k/m²	¥68k/m²
46	¥74k/m²	¥62k/m²
47	¥92k/m²	¥66k/m²
48	–	¥81k/m²
49	–	¥76k/m²
50	¥91k/m²	¥63k/m²

Condo price per m² by construction periodBuilding age matters less than location — Over the last decade, pre-1981 condos have appreciated at about the same pace as 2000s buildings (around 1.8% a year), so in this market location matters more than building age. Pre-1981 buildings, built before the current earthquake standard, trade about 54% below 1980s–90s buildings.

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
2007	–	¥160k/m²	¥288k/m²	–
2008	¥95k/m²	¥148k/m²	¥294k/m²	–
2009	¥85k/m²	¥133k/m²	¥271k/m²	–
2010	¥89k/m²	¥132k/m²	¥288k/m²	–
2011	¥78k/m²	¥138k/m²	¥291k/m²	–
2012	¥77k/m²	¥138k/m²	¥272k/m²	–
2013	¥75k/m²	¥142k/m²	¥267k/m²	–
2014	¥67k/m²	¥149k/m²	¥271k/m²	¥593k/m²
2015	¥93k/m²	¥141k/m²	¥282k/m²	¥456k/m²
2016	¥89k/m²	¥150k/m²	¥280k/m²	–
2017	¥74k/m²	¥145k/m²	¥278k/m²	¥478k/m²
2018	¥94k/m²	¥141k/m²	¥271k/m²	¥433k/m²
2019	¥91k/m²	¥147k/m²	¥278k/m²	¥378k/m²
2020	¥95k/m²	¥160k/m²	¥264k/m²	¥453k/m²
2021	¥98k/m²	¥167k/m²	¥292k/m²	¥488k/m²
2022	¥80k/m²	¥185k/m²	¥305k/m²	¥514k/m²
2023	¥106k/m²	¥186k/m²	¥339k/m²	¥479k/m²
2024	¥109k/m²	¥183k/m²	¥327k/m²	¥576k/m²
2025	¥92k/m²	¥200k/m²	¥333k/m²	¥543k/m²
2026 (partial)	–	¥200k/m²	¥370k/m²	–

House price per m² by construction period

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
2007	¥133k/m²	¥153k/m²	¥310k/m²	–
2008	¥113k/m²	¥137k/m²	¥305k/m²	–
2009	¥98k/m²	¥131k/m²	¥294k/m²	–
2010	¥104k/m²	¥130k/m²	¥283k/m²	¥340k/m²
2011	¥116k/m²	¥130k/m²	¥229k/m²	¥287k/m²
2012	¥107k/m²	¥119k/m²	¥205k/m²	¥289k/m²
2013	¥88k/m²	¥124k/m²	¥208k/m²	¥290k/m²
2014	¥93k/m²	¥110k/m²	¥200k/m²	¥269k/m²
2015	¥86k/m²	¥112k/m²	¥183k/m²	¥284k/m²
2016	¥91k/m²	¥99k/m²	¥200k/m²	¥286k/m²
2017	¥77k/m²	¥109k/m²	¥183k/m²	¥270k/m²
2018	¥78k/m²	¥93k/m²	¥180k/m²	¥276k/m²
2019	¥73k/m²	¥100k/m²	¥187k/m²	¥290k/m²
2020	¥62k/m²	¥91k/m²	¥190k/m²	¥270k/m²
2021	¥66k/m²	¥96k/m²	¥171k/m²	¥274k/m²
2022	¥79k/m²	¥109k/m²	¥180k/m²	¥259k/m²
2023	¥68k/m²	¥97k/m²	¥185k/m²	¥276k/m²
2024	¥66k/m²	¥103k/m²	¥180k/m²	¥248k/m²
2025	¥63k/m²	¥100k/m²	¥200k/m²	¥256k/m²
2026 (partial)	¥50k/m²	¥83k/m²	¥190k/m²	¥259k/m²

Prices by area in Nara

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
Nara City	¥300k/m²	¥21.0M	¥27.0M	¥97k/m²	+50.0%
Ikoma City	¥294k/m²	¥19.0M	¥27.0M	¥84k/m²	+8.4%
Kashiba City	–	–	¥34.0M	¥100k/m²	–
Yamatotakada City	¥200k/m²	¥14.0M	¥8.0M	¥54k/m²	+105.3%
Kashihara City	¥189k/m²	¥14.5M	¥24.0M	¥84k/m²	-5.7%
Katsuragi City	–	–	¥24.0M	¥71k/m²	–
Tawaramoto Town, Shiki County	–	–	¥18.0M	¥60k/m²	–
Yamatokoriyama City	–	–	¥16.0M	¥62k/m²	–
Heguri Town, Ikoma County	–	–	¥14.0M	–	–
Tenri City	–	–	¥23.0M	¥35k/m²	–
Ikaruga Town, Ikoma County	–	–	¥15.0M	¥64k/m²	–
Sango Town, Ikoma County	–	–	¥10.0M	–	–
Sakurai City	–	–	¥18.5M	¥45k/m²	–
Kanmaki Town, Kitakatsuragi County	–	–	¥8.3M	–	–
Koryo Town, Kitakatsuragi County	–	–	–	¥57k/m²	–

Prices near train stations in Nara

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
Ikoma (生駒)	¥17.0M	¥255k/m²	¥20.5M	11	243
Gakuemmae(Nara) (学園前(奈良))	¥18.0M	¥230k/m²	¥33.0M	15	243
Nara (奈良)	¥19.0M	¥320k/m²	¥22.0M	8	208
Kintetsu Nara (近鉄奈良)	¥21.0M	¥296k/m²	¥20.0M	14	199
Tomio (富雄)	¥18.0M	¥249k/m²	¥27.0M	11	167
Shin Omiya (新大宮)	¥14.0M	¥231k/m²	¥31.0M	8	143
Yamato Saidaiji (大和西大寺)	¥30.5M	¥454k/m²	¥29.0M	12	141
Gakken Nara Tomigaoka (学研奈良登美ケ丘)	¥35.0M	¥431k/m²	¥41.5M	15	129
Oji(Nara) (王寺)	¥21.0M	¥304k/m²	¥12.0M	13	116
Yamato Koizumi (大和小泉)	–	–	¥12.5M	15	111
Ayameike (菖蒲池)	¥26.0M	¥312k/m²	¥29.0M	13	111
Higashi Ikoma (東生駒)	¥17.0M	¥246k/m²	¥26.0M	11	108
Sakurai(Nara) (桜井(奈良))	¥9.2M	¥141k/m²	¥20.0M	14	106
Haibara (榛原)	–	–	¥4.3M	6	98
Goido (五位堂)	¥23.5M	¥310k/m²	¥29.0M	15	97

Used condo prices by layout in Nara

Sales from 2023–2025.

Layout	Median used condo price	Typical size	Sales
3LDK	¥17.0M	70 m²	696
2LDK	¥15.0M	60 m²	162
4LDK	¥22.0M	85 m²	158
1LDK	¥15.5M	47.5 m²	22
2DK	¥14.0M	55 m²	12
1DK	¥11.0M	35 m²	10

How much does an apartment cost in Nara?

The median used condo (mansion) in Nara sold for ¥19.0M in 2025, about ¥262k/m², based on 364 recorded sales.

How much does a house cost in Nara?

The median house sale, including the land, was ¥19.0M in 2025 across 1261 sales.

Are property prices in Nara going up?

Over the five years to 2025, condo prices per m² changed +31.0% and residential land prices changed +13.0%.

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.