Minami Ward, Okayama City Housing Market Report 2026
Data updated 2026-11-11 · Source: MLIT transaction price survey, 2005 Q3–2026 Q2 · Transactions in 2025: 258
In short
- 1The trend has turned down
After rising earlier, house prices per m² have slipped by about 0.5% a year over the last five years.
- 2Moving with Okayama
Per m², houses here are 37% above the Okayama average.
- 3Station distance barely matters
Houses 11–15 minutes from a station sell for similar or higher prices than those near one, which usually means buyers here drive or value quiet residential streets.
- 4A family market
80% of recent condo sales have three or more bedrooms.
The answers, compared
What does a home cost?
¥26.0M
median house · ¥182k/m²
42% above the Okayama median
2 of 12 areas in Okayama, highest first
Are prices rising?
+22.2%
over 5 years
Faster than Okayama (+15.5%)
5 of 15 areas in Okayama, highest first
Can local earners afford it?
7.0× income
median price ÷ average taxable income
Harder than Okayama (6.0×)
1 of 14 areas in Okayama, highest first
Rent or buy?
40years of rent
median price ÷ a year of median rent
Longer than Okayama (35)
2 of 14 areas in Okayama, highest first
Are people moving in?
-3.0%
population, 2020–25
Shrinking slower than Okayama (-4.2%)
5 of 15 areas in Okayama, highest first
How risky is it?
48%
chance of strong shaking (6-lower+) in 30 years
Higher than Okayama (34%)
3 of 15 areas in Okayama, highest first
Rent in Minami Ward, Okayama City
The average private rental costs ¥55k a month (2023), +0.7% since 2018. Okayama: ¥53k
| Floor area | Typical layout | Average rent / month | Minami Ward, Okayama CityOkayama |
|---|---|---|---|
| under 30 m² studio / 1K | studio / 1K | ¥44k vs 2018 +7.7% · Okayama: ¥42k | |
| 30–49 m² 1LDK / 2DK | 1LDK / 2DK | ¥51k vs 2018 -3.6% · Okayama: ¥51k | |
| 50–69 m² 2LDK / 3DK | 2LDK / 3DK | ¥60k vs 2018 -0.3% · Okayama: ¥60k | |
| 70–99 m² 3LDK / family | 3LDK / family | ¥68k vs 2018 +4.0% · Okayama: ¥70k | |
| 100–149 m² mostly houses | mostly houses | ¥70k vs 2018 +6.6% · Okayama: ¥61k | |
| 150 m² + mostly houses | mostly houses | ¥61k vs 2018 -12.3% · Okayama: ¥58k |
- Rent per m²
- ¥1,217
- median, per month · Okayama: ¥1,310
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. 19,040 rented homes.
What the data says
The trend has turned down
After rising earlier, house prices per m² have slipped by about 0.5% a year over the last five years. That often reflects weaker local demand, so check vacancy and population trends before buying.
Moving with Okayama
Per m², houses here are 37% above the Okayama average. That position has barely changed in ten years, so it moves with the wider market.
Station distance barely matters
Houses 11–15 minutes from a station sell for similar or higher prices than those near one, which usually means buyers here drive or value quiet residential streets.
A family market
80% of recent condo sales have three or more bedrooms. Demand comes mainly from owner-occupier families, which tends to make prices steadier but rental yields lower.
Sales are thinning out
Transactions are down about 9% on the previous three years. Fewer sales mean less choice and slower resale, so allow more time to sell later.
What a typical purchase costs
Half of all house sales last year were between ¥11.0M and ¥42.0M. Listings outside that range are either unusual properties or worth a closer look.
A shrinking population
The population fell 3% between 2020 and 2025 (−4.2% for the wider area). Moves in and out roughly balanced in 2025. Households still grew 2.4% as people live in smaller households, which supports demand for smaller homes even as the population shrinks.
Typical vacancy
11.7% of homes were empty in 2023 (16.4% for the wider area), and 4.9% were empty without being for rent, for sale or used as second homes. The level of abandoned homes is around the national norm.
Moderate earthquake risk
The government's seismic model gives a 48% chance of shaking of intensity 6-lower or stronger in the next 30 years (34% for the wider area). Post-1981 buildings are designed for this level of shaking, but check ground conditions and insurance.
Local incomes are close to average
Taxpayers in the city as a whole reported an average taxable income of ¥3.7m in 2023 (¥3.5m for the wider area). That is +16% since 2014. Averages are pulled up by a few very high earners, so a typical household earns less than this.
Official land prices are edging up
On the government's fixed benchmark sites, which are valued the same way every year, residential land prices changed +2% in the year to January 2026 and +5% over five years. They are still 42% below their 1991 bubble-era level. Because these sites don't change, this is the cleanest measure of land value trends.
Significant flood risk
Of the official land-price benchmark sites here, which sit in typical neighbourhoods, 90% are inside the worst-case flood zone, 43% are in a tsunami inundation zone. Most worst-case flood zones are shallow (under 0.5 m) at the edges, so depth matters as much as the share. Check the hazard map for any specific address before buying.
Living in Minami Ward, Okayama City: people, homes and risks
- Population 2025
- 162,747
- -3.0% since 2020
- Okayama: -4.2%
- Net moves in 2025
- -264
- -1.62 per 1,000 residents
- Okayama: -3.09
- Vacant homes (2023)
- 11.7%
- 4.9% empty and not for rent or sale
- Okayama: 16.4%
- Median rent (2023)
- ¥54k
- per month, all rented homes
- Okayama: ¥50k
- Strong earthquake risk
- 47.6%
- chance of shaking of intensity 6-lower or more within 30 years
- Okayama: 33.5%
- Average income per taxpayer
- ¥3.7M
- taxable income in 2023, citywide figure
- Okayama: ¥3.5M
- Daytime population
- 93
- people here by day per 100 residents (2020 census)
- Foreign residents
- 1.9%
- 3,089 registered residents in 2024
- Okayama: 2.1%
- Clinics
- 7.0
- per 10,000 residents; 9 hospitals, 89 dental clinics (2020)
- Okayama: 9.1
- Official land price 2026
- ¥55k/m²
- +1.5% in a year · +5.4% in 5 years
- Okayama: ¥37k/m²
- Flood exposure
- 90.0%
- of 30 benchmark sites in a worst-case flood zone (0.0% 3 m or deeper)
- Okayama: 69.1%
- Tsunami exposure
- 43.3%
- of 30 benchmark sites in a tsunami inundation zone
- Okayama: 13.7%
- Landslide exposure
- 3.3%
- of 30 benchmark sites in a landslide warning area
- Okayama: 5.8%
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 Minami Ward, Okayama 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.
Condo
¥9.7M
¥162k/m²
- Hamano
- Okayama
- 3LDK · 60 m²
- Built 1995 (30 yrs) · RC
¥20.0M
¥235k/m²
- Izumida
- Bizen Nishiichi · 11 min walk
- 3LDK · 85 m²
- Built 2000 (26 yrs) · RC
¥25.0M
¥357k/m²
- Fukutominaka
- Okayama
- 2LDK · 70 m²
- Built 2020 (5 yrs) · RC
House
¥10.0M
¥83k/m²
- Sone
- Chayamachi · 28 min walk
- Land 160 m² · floor 120 m²
- Built 1989 (36 yrs) · Wood
¥25.0M
¥172k/m²
- Nishiichi
- Bizen Nishiichi · 3 min walk
- Land 185 m² · floor 145 m²
- Built 1978 (48 yrs) · Wood
¥42.0M
¥400k/m²
- Izumida
- Bizen Nishiichi · 29 min walk
- Land 140 m² · floor 105 m²
- Built 2025 (1 yrs) · Wood
Show data table
| Year | Condo | House |
|---|---|---|
| 2007 | – | ¥18.0M |
| 2008 | ¥10.5M | ¥19.0M |
| 2009 | – | ¥19.0M |
| 2010 | ¥11.5M | ¥21.0M |
| 2011 | ¥12.0M | ¥18.0M |
| 2012 | ¥13.0M | ¥25.0M |
| 2013 | ¥15.0M | ¥16.0M |
| 2014 | – | ¥23.0M |
| 2015 | – | ¥23.0M |
| 2016 | ¥14.0M | ¥23.5M |
| 2017 | ¥13.0M | ¥23.0M |
| 2018 | ¥12.0M | ¥22.5M |
| 2019 | – | ¥27.0M |
| 2020 | – | ¥22.0M |
| 2021 | ¥14.0M | ¥26.0M |
| 2022 | ¥15.0M | ¥29.0M |
| 2023 | ¥15.0M | ¥26.0M |
| 2024 | ¥18.0M | ¥23.0M |
| 2025 | – | ¥26.0M |
| 2026 (partial) | – | ¥29.0M |
Show data table
| Year | Condo | House | Land |
|---|---|---|---|
| 2007 | – | ¥152k/m² | ¥58k/m² |
| 2008 | ¥155k/m² | ¥153k/m² | ¥49k/m² |
| 2009 | – | ¥150k/m² | ¥54k/m² |
| 2010 | ¥179k/m² | ¥143k/m² | ¥57k/m² |
| 2011 | ¥150k/m² | ¥129k/m² | ¥47k/m² |
| 2012 | ¥185k/m² | ¥172k/m² | ¥42k/m² |
| 2013 | ¥200k/m² | ¥130k/m² | ¥44k/m² |
| 2014 | – | ¥162k/m² | ¥56k/m² |
| 2015 | – | ¥178k/m² | ¥50k/m² |
| 2016 | ¥200k/m² | ¥152k/m² | ¥43k/m² |
| 2017 | ¥186k/m² | ¥147k/m² | ¥48k/m² |
| 2018 | ¥185k/m² | ¥185k/m² | ¥42k/m² |
| 2019 | – | ¥188k/m² | ¥54k/m² |
| 2020 | – | ¥173k/m² | ¥54k/m² |
| 2021 | ¥188k/m² | ¥196k/m² | ¥48k/m² |
| 2022 | ¥186k/m² | ¥229k/m² | ¥64k/m² |
| 2023 | ¥200k/m² | ¥219k/m² | ¥62k/m² |
| 2024 | ¥240k/m² | ¥170k/m² | ¥50k/m² |
| 2025 | – | ¥182k/m² | ¥66k/m² |
| 2026 (partial) | – | ¥172k/m² | ¥61k/m² |
Show data table
| Building age (years) | House |
|---|---|
| 0 | ¥314k/m² |
| 1 | ¥340k/m² |
| 2 | ¥324k/m² |
| 20 | ¥211k/m² |
| 24 | ¥115k/m² |
| 26 | ¥161k/m² |
| 28 | ¥137k/m² |
| 29 | ¥117k/m² |
| 30 | ¥115k/m² |
| 33 | ¥135k/m² |
| 34 | ¥110k/m² |
| 40 | ¥98k/m² |
| 44 | ¥65k/m² |
| 45 | ¥125k/m² |
| 47 | ¥97k/m² |
| 49 | ¥92k/m² |
| 50 | ¥105k/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 |
|---|---|---|---|---|
| 2007 | ¥112k/m² | ¥141k/m² | ¥261k/m² | – |
| 2008 | ¥113k/m² | ¥126k/m² | ¥273k/m² | – |
| 2009 | ¥100k/m² | ¥127k/m² | ¥250k/m² | – |
| 2010 | ¥106k/m² | ¥125k/m² | ¥255k/m² | – |
| 2011 | ¥102k/m² | ¥125k/m² | – | – |
| 2012 | – | ¥133k/m² | – | ¥289k/m² |
| 2013 | ¥93k/m² | ¥115k/m² | – | ¥292k/m² |
| 2014 | ¥125k/m² | ¥122k/m² | – | ¥311k/m² |
| 2015 | ¥105k/m² | ¥141k/m² | – | ¥290k/m² |
| 2016 | ¥106k/m² | ¥93k/m² | – | ¥292k/m² |
| 2017 | ¥99k/m² | ¥113k/m² | – | ¥290k/m² |
| 2018 | – | ¥124k/m² | – | ¥278k/m² |
| 2019 | ¥127k/m² | ¥103k/m² | – | ¥313k/m² |
| 2020 | ¥106k/m² | ¥147k/m² | – | ¥296k/m² |
| 2021 | ¥92k/m² | ¥146k/m² | – | – |
| 2022 | – | ¥129k/m² | – | – |
| 2023 | – | ¥118k/m² | – | – |
| 2024 | ¥72k/m² | ¥117k/m² | – | – |
| 2025 | ¥103k/m² | ¥101k/m² | – | – |
Prices near train stations in Minami Ward, Okayama 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) |
|---|---|---|---|---|---|---|
| Okayama (岡山) | ¥24.0M | ¥243k/m² | ¥26.0M | – | 221 | 130,676-6% vs 2019 |
| Bizen Nishiichi (備前西市) | ¥16.0M | ¥216k/m² | ¥32.0M | 16 | 99 | 3,742+3% vs 2019 |
| Senoo (妹尾) | – | – | ¥26.0M | 13 | 63 | 5,560-12% vs 2019 |
| Hazakawa (迫川) | – | – | ¥13.0M | 19 | 17 | 354-14% vs 2019 |
| Hikosaki (彦崎) | – | – | ¥32.0M | 7 | 13 | 590+5% vs 2019 |
| Bitchu Mishima (備中箕島) | – | – | – | 13 | 10 | 432+7% vs 2019 |
| Uematsu (植松) | – | – | ¥8.8M | 10 | 10 | 382+3% vs 2019 |
Used condo prices by layout in Minami Ward, Okayama City
Sales from 2023–2025.
| Layout | Median used condo price | Typical size | Sales |
|---|---|---|---|
| 3LDK | ¥17.0M | 75 m² | 34 |
How much does a house cost in Minami Ward, Okayama City?
The median house sale, including the land, was ¥26.0M in 2025 across 141 sales.
Are property prices in Minami Ward, Okayama City going up?
Over the five years to 2025, residential land prices changed +22.2%.
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.