Kusatsu City Housing Market Report 2026
Data updated 2026-11-11 · Source: MLIT transaction price survey, 2005 Q3–2026 Q2 · Transactions in 2025: 331
In short
- 1Prices are still rising, but more slowly
Growth has cooled to about 1.2% a year, down from 6.3% a year in the previous five years.
- 2Moving with Shiga
Per m², condos here are 31% above the Shiga average.
- 3A modest station premium
Condos within a 5-minute walk of a station sell for about 1% more per m² than those 11–15 minutes away.
- 4A family market
81% of recent condo sales have three or more bedrooms.
The answers, compared
What does a home cost?
¥30.0M
median used condo · ¥413k/m²
20% above the Shiga median
Are prices rising?
-12.5%
over 5 years
Slower than Shiga (+8.3%)
11 of 14 areas in Shiga, highest first
Can local earners afford it?
7.0× income
median price ÷ average taxable income
Harder than Shiga (6.5×)
4 of 12 areas in Shiga, highest first
Rent or buy?
49years of rent
median price ÷ a year of median rent
Longer than Shiga (39)
2 of 12 areas in Shiga, highest first
Are people moving in?
+3.3%
population, 2020–25
Growing while Shiga shrinks (-1.5%)
1 of 14 areas in Shiga, highest first
How risky is it?
17%
chance of strong shaking (6-lower+) in 30 years
Lower than Shiga (21%)
8 of 14 areas in Shiga, highest first
Rent in Kusatsu City
The average private rental costs ¥56k a month (2023), +7.3% since 2018. Shiga: ¥56k
| Floor area | Typical layout | Average rent / month | Kusatsu CityShiga |
|---|---|---|---|
| under 30 m² studio / 1K | studio / 1K | ¥46k vs 2018 +5.4% · Shiga: ¥45k | |
| 30–49 m² 1LDK / 2DK | 1LDK / 2DK | ¥58k vs 2018 +5.3% · Shiga: ¥55k | |
| 50–69 m² 2LDK / 3DK | 2LDK / 3DK | ¥77k vs 2018 +16.3% · Shiga: ¥65k | |
| 70–99 m² 3LDK / family | 3LDK / family | ¥94k vs 2018 +23.4% · Shiga: ¥73k | |
| 100–149 m² mostly houses | mostly houses | ¥64k vs 2018 -24.8% · Shiga: ¥63k |
- Rent per m²
- ¥1,646
- median, per month · Shiga: ¥1,393
- The median used condo (¥30.0M, 75 m²) costs about 27 years of average rent for a similar-sized home (¥94k 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. 25,300 rented homes.
What the data says
Prices are still rising, but more slowly
Growth has cooled to about 1.2% a year, down from 6.3% a year in the previous five years. This looks more like a maturing market than a turning point, and it gives buyers a bit more room to negotiate.
Moving with Shiga
Per m², condos here are 31% above the Shiga average. That position has barely changed in ten years, so it moves with the wider market.
A modest station premium
Condos within a 5-minute walk of a station sell for about 1% more per m² than those 11–15 minutes away. The penalty for a longer walk is mild, so it is worth widening your search radius.
A family market
81% 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 picking up
There were about 13% more transactions in the last three years than the three before, so the market is liquid and selling later should be easier.
What a typical purchase costs
Half of all condo sales last year were between ¥22.0M and ¥40.0M. Listings outside that range are either unusual properties or worth a closer look.
A growing population
The population grew 3.3% between 2020 and 2025 (−1.5% for the wider area). More people moved in than out in 2025, a net gain of about 4.8 per 1,000 residents, so demand for homes is being topped up by newcomers.
Few abandoned homes
6.7% of homes were empty in 2023 (12.3% for the wider area), and 2.8% were empty without being for rent, for sale or used as second homes. Most empty homes here are rentals between tenants, not abandoned houses, a sign of a healthy market.
Buying vs renting
A median used condo costs about 49.1 years of the area's median rent (¥51k a month), compared with 38.5 years for the wider area. Prices are high relative to rents, so rental yields are thin and buyers are paying for expected growth. Rents here cover all rented homes, so treat this as a rough guide.
Lower earthquake risk
The government's seismic model gives a 17% chance of shaking of intensity 6-lower or stronger in the next 30 years (21% for the wider area). This is low by Japanese standards, although no part of Japan is free of earthquake risk.
A typical condo costs 7.0 years of local income
Taxpayers here reported an average taxable income of ¥4.3m in 2023 (¥3.7m for the wider area). That is +22% since 2014. The median resale condo sold for about 7.0 times that, against 6.5 times for the wider area. A higher multiple means prices lean more on buyers from outside the area or on two incomes. Averages are pulled up by a few very high earners, so a typical household earns less than this.
Official land prices are rising fast
On the government's fixed benchmark sites, which are valued the same way every year, residential land prices changed +4% in the year to January 2026 and +15% over five years. They are still 44% below their 1991 bubble-era level. Because these sites don't change, this is the cleanest measure of land value trends.
Some flood or landslide exposure
Of the official land-price benchmark sites here, which sit in typical neighbourhoods, 44% are inside the worst-case flood 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 Kusatsu City: people, homes and risks
- Population 2025
- 148,731
- +3.3% since 2020
- Shiga: -1.5%
- Net moves in 2025
- +715
- +4.81 per 1,000 residents
- Shiga: +0.25
- Vacant homes (2023)
- 6.7%
- 2.8% empty and not for rent or sale
- Shiga: 12.3%
- Median rent (2023)
- ¥51k
- per month, all rented homes
- Shiga: ¥52k
- Strong earthquake risk
- 16.6%
- chance of shaking of intensity 6-lower or more within 30 years
- Shiga: 20.6%
- Average income per taxpayer
- ¥4.3M
- taxable income in 2023
- Shiga: ¥3.7M
- Daytime population
- 107
- people here by day per 100 residents (2020 census)
- Foreign residents
- 2.5%
- 3,552 registered residents in 2024
- Shiga: 3.0%
- Clinics
- 8.5
- per 10,000 residents; 7 hospitals, 60 dental clinics (2020)
- Shiga: 7.8
- Official land price 2026
- ¥121k/m²
- +4.1% in a year · +14.5% in 5 years
- Shiga: ¥41k/m²
- Flood exposure
- 43.5%
- of 23 benchmark sites in a worst-case flood zone (0.0% 3 m or deeper)
- Shiga: 50.0%
- Landslide exposure
- 0.0%
- of 23 benchmark sites in a landslide warning area
- Shiga: 1.6%
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 Kusatsu 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
¥25.0M
¥385k/m²
- Noji
- Minami Kusatsu · 4 min walk
- 2LDK · 65 m²
- Built 2000 (25 yrs) · SRC
¥34.0M
¥453k/m²
- Shibukawa
- Kusatsu(Shiga) · 3 min walk
- 3LDK · 75 m²
- Built 1997 (29 yrs) · SRC
¥42.0M
¥646k/m²
- Minamikusatsu
- Minami Kusatsu · 8 min walk
- 3LDK · 65 m²
- Built 2018 (8 yrs) · RC
House
¥18.0M
¥90k/m²
- Kamigasa
- Kusatsu(Shiga) · 25 min walk
- Land 210 m² · floor 200 m²
- Built 1996 (29 yrs) · Wood
¥33.0M
¥143k/m²
- Yamadacho
- Kusatsu(Shiga)
- Land 800 m² · floor 230 m²
- Built 1993 (33 yrs) · Wood
¥53.0M
¥530k/m²
- Oiwake
- Minami Kusatsu · 28 min walk
- Land 155 m² · floor 100 m²
- Built 2025 (1 yrs) · Light steel
Show data table
| Year | Condo | House |
|---|---|---|
| 2007 | ¥18.0M | ¥27.0M |
| 2008 | ¥17.0M | ¥28.0M |
| 2009 | ¥24.0M | ¥30.0M |
| 2010 | ¥17.0M | ¥30.0M |
| 2011 | ¥18.0M | ¥28.0M |
| 2012 | ¥19.0M | ¥28.0M |
| 2013 | ¥21.0M | ¥28.0M |
| 2014 | ¥21.0M | ¥29.0M |
| 2015 | ¥23.0M | ¥29.0M |
| 2016 | ¥23.0M | ¥28.0M |
| 2017 | ¥24.0M | ¥29.0M |
| 2018 | ¥25.0M | ¥29.5M |
| 2019 | ¥27.0M | ¥32.0M |
| 2020 | ¥36.0M | ¥28.5M |
| 2021 | ¥28.0M | ¥29.0M |
| 2022 | ¥29.0M | ¥29.0M |
| 2023 | ¥28.0M | ¥35.0M |
| 2024 | ¥32.0M | ¥36.0M |
| 2025 | ¥30.0M | ¥35.0M |
| 2026 (partial) | ¥35.0M | ¥41.0M |
Show data table
| Year | Condo | House | Land |
|---|---|---|---|
| 2007 | ¥259k/m² | ¥220k/m² | ¥45k/m² |
| 2008 | ¥255k/m² | ¥227k/m² | ¥87k/m² |
| 2009 | ¥324k/m² | ¥243k/m² | ¥80k/m² |
| 2010 | ¥231k/m² | ¥264k/m² | ¥89k/m² |
| 2011 | ¥269k/m² | ¥258k/m² | ¥88k/m² |
| 2012 | ¥267k/m² | ¥221k/m² | ¥84k/m² |
| 2013 | ¥277k/m² | ¥242k/m² | ¥98k/m² |
| 2014 | ¥302k/m² | ¥227k/m² | ¥74k/m² |
| 2015 | ¥313k/m² | ¥240k/m² | ¥79k/m² |
| 2016 | ¥329k/m² | ¥250k/m² | ¥83k/m² |
| 2017 | ¥341k/m² | ¥255k/m² | ¥83k/m² |
| 2018 | ¥346k/m² | ¥270k/m² | ¥77k/m² |
| 2019 | ¥365k/m² | ¥265k/m² | ¥87k/m² |
| 2020 | ¥471k/m² | ¥233k/m² | ¥98k/m² |
| 2021 | ¥373k/m² | ¥244k/m² | ¥92k/m² |
| 2022 | ¥400k/m² | ¥229k/m² | ¥89k/m² |
| 2023 | ¥400k/m² | ¥309k/m² | ¥100k/m² |
| 2024 | ¥477k/m² | ¥294k/m² | ¥120k/m² |
| 2025 | ¥413k/m² | ¥309k/m² | ¥120k/m² |
| 2026 (partial) | ¥494k/m² | ¥304k/m² | ¥130k/m² |
Show data table
| Building age (years) | Condo | House |
|---|---|---|
| 0 | – | ¥411k/m² |
| 1 | – | ¥371k/m² |
| 9 | ¥538k/m² | – |
| 12 | – | ¥293k/m² |
| 17 | ¥413k/m² | – |
| 18 | ¥447k/m² | – |
| 19 | ¥413k/m² | – |
| 20 | ¥471k/m² | – |
| 21 | ¥425k/m² | – |
| 23 | ¥336k/m² | – |
| 24 | ¥317k/m² | – |
| 25 | ¥378k/m² | – |
| 27 | ¥250k/m² | – |
| 28 | ¥246k/m² | ¥200k/m² |
| 33 | ¥240k/m² | – |
| 35 | – | ¥184k/m² |
| 37 | – | ¥167k/m² |
| 38 | – | ¥189k/m² |
| 39 | – | ¥224k/m² |
| 40 | – | ¥172k/m² |
| 42 | – | ¥175k/m² |
| 43 | – | ¥114k/m² |
| 47 | – | ¥170k/m² |
| 50 | – | ¥180k/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 | 1981-2000 | 2001-2010 | 2011-2020 |
|---|---|---|---|
| 2007 | ¥255k/m² | – | – |
| 2008 | ¥227k/m² | – | – |
| 2009 | ¥240k/m² | ¥422k/m² | – |
| 2010 | ¥206k/m² | ¥309k/m² | – |
| 2011 | ¥231k/m² | ¥313k/m² | – |
| 2012 | ¥228k/m² | – | – |
| 2013 | – | ¥338k/m² | – |
| 2014 | ¥267k/m² | ¥345k/m² | – |
| 2015 | ¥267k/m² | ¥339k/m² | – |
| 2016 | ¥293k/m² | ¥355k/m² | – |
| 2017 | ¥248k/m² | – | – |
| 2018 | ¥284k/m² | ¥400k/m² | ¥681k/m² |
| 2019 | ¥300k/m² | ¥413k/m² | ¥600k/m² |
| 2020 | ¥320k/m² | ¥418k/m² | ¥671k/m² |
| 2021 | ¥286k/m² | – | – |
| 2022 | ¥289k/m² | ¥419k/m² | – |
| 2023 | ¥286k/m² | – | – |
| 2024 | ¥230k/m² | ¥503k/m² | ¥565k/m² |
| 2025 | ¥358k/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 | – | ¥191k/m² | ¥267k/m² | – |
| 2008 | – | ¥155k/m² | ¥292k/m² | – |
| 2009 | – | ¥156k/m² | ¥308k/m² | – |
| 2010 | ¥99k/m² | ¥146k/m² | ¥287k/m² | ¥300k/m² |
| 2011 | – | ¥160k/m² | – | ¥287k/m² |
| 2012 | – | ¥158k/m² | – | ¥296k/m² |
| 2013 | – | ¥165k/m² | – | ¥285k/m² |
| 2014 | – | ¥167k/m² | – | ¥291k/m² |
| 2015 | ¥139k/m² | ¥154k/m² | – | ¥337k/m² |
| 2016 | – | ¥156k/m² | – | ¥300k/m² |
| 2017 | – | ¥160k/m² | – | ¥290k/m² |
| 2018 | – | ¥155k/m² | – | ¥314k/m² |
| 2019 | – | ¥192k/m² | – | ¥333k/m² |
| 2020 | – | ¥149k/m² | – | ¥310k/m² |
| 2021 | – | ¥175k/m² | – | ¥307k/m² |
| 2022 | – | ¥160k/m² | – | – |
| 2023 | ¥170k/m² | ¥195k/m² | – | – |
| 2024 | ¥160k/m² | ¥189k/m² | – | – |
| 2025 | – | ¥173k/m² | – | – |
Prices near train stations in Kusatsu 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) |
|---|---|---|---|---|---|---|
| Kusatsu(Shiga) (草津(滋賀)) | ¥29.0M | ¥413k/m² | ¥35.0M | 12 | 361 | 58,114-2% vs 2019 |
| Minami Kusatsu (南草津) | ¥35.0M | ¥475k/m² | ¥35.0M | 16 | 293 | 53,720-12% vs 2019 |
| Seta(Shiga) (瀬田(滋賀)) | – | – | – | 21 | 18 | 34,294-6% vs 2019 |
| Ritto (栗東) | – | – | ¥42.0M | 19 | 16 | 18,148-24% vs 2019 |
Used condo prices by layout in Kusatsu City
Sales from 2023–2025.
| Layout | Median used condo price | Typical size | Sales |
|---|---|---|---|
| 3LDK | ¥30.0M | 70 m² | 141 |
| 2LDK | ¥32.0M | 65 m² | 34 |
| 4LDK | ¥38.0M | 85 m² | 28 |
How much does an apartment cost in Kusatsu City?
The median used condo (mansion) in Kusatsu City sold for ¥30.0M in 2025, about ¥413k/m², based on 77 recorded sales.
How much does a house cost in Kusatsu City?
The median house sale, including the land, was ¥35.0M in 2025 across 153 sales.
Are property prices in Kusatsu City going up?
Over the five years to 2025, condo prices per m² changed -12.5% and residential land prices changed +22.4%.
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.