Chiyoda Ward Housing Market 2026: A Tiny, Thin Market at the Top of Tokyo
Data updated 2026-11-11 · Source: MLIT transaction price survey, 2005 Q3–2026 Q2 · Transactions in 2025: 316
In short
- 1Few homes, very high prices
Chiyoda is the political and business heart of Tokyo, home to only about 66,000 people.
- 2Rising steadily, but not accelerating
Condo prices per m² have risen about 5% a year for the past five years, about the same pace as the five years before.
- 3A ward that is not growing
Chiyoda's population fell 0.7% between 2020 and 2025, one of only three wards to shrink (with Shibuya and Meguro), while Tokyo grew 1.4%.
- 4Newer is worth much more
Condos lose value fast with age here.
- 5Rents and risks
A median condo costs about 33 years of the ward's median rent, a better ratio than the Tokyo average.
The answers, compared
What does a home cost?
¥50.0M
median used condo · ¥1.6M/m²
1.5× the Tokyo median
2 of 47 areas in Tokyo, highest first
Are prices rising?
+33.3%
over 5 years
Faster than Tokyo (+26.5%)
21 of 50 areas in Tokyo, highest first
Can local earners afford it?
4.3× income
median price ÷ average taxable income
Easier than Tokyo (6.8×)
48 of 50 areas in Tokyo, highest first
Rent or buy?
33years of rent
median price ÷ a year of median rent
Shorter than Tokyo (39)
39 of 50 areas in Tokyo, highest first
Are people moving in?
-0.7%
population, 2020–25
Slower than Tokyo (+1.4%)
37 of 50 areas in Tokyo, highest first
How risky is it?
54%
chance of strong shaking (6-lower+) in 30 years
In line with Tokyo (53%)
11 of 50 areas in Tokyo, highest first
Rent in Chiyoda Ward
The average private rental costs ¥158k a month (2023), -6.8% since 2018. Tokyo: ¥95k
| Floor area | Typical layout | Average rent / month | Chiyoda WardTokyo |
|---|---|---|---|
| under 30 m² studio / 1K | studio / 1K | ¥95k vs 2018 -2.6% · Tokyo: ¥70k | |
| 30–49 m² 1LDK / 2DK | 1LDK / 2DK | ¥149k vs 2018 -11.2% · Tokyo: ¥99k | |
| 50–69 m² 2LDK / 3DK | 2LDK / 3DK | ¥198k vs 2018 -6.9% · Tokyo: ¥126k | |
| 70–99 m² 3LDK / family | 3LDK / family | ¥350k vs 2018 +44.3% · Tokyo: ¥155k | |
| 100–149 m² mostly houses | mostly houses | ¥342k vs 2018 -10.4% · Tokyo: ¥191k |
- Rent per m²
- ¥3,929
- median, per month · Tokyo: ¥2,800
- The median used condo (¥50.0M, 35 m²) costs about 28 years of average rent for a similar-sized home (¥149k 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. 17,680 rented homes.
Few homes, very high prices
Chiyoda is the political and business heart of Tokyo, home to only about 66,000 people. It is joint second with Chuo among the 23 wards for the price per m² of a used condo, behind Minato, at about ¥1.6M per m² in 2025. That is about 1.5 times the Tokyo average. Only about 300 homes change hands each year, so a few luxury sales can move the median a lot.
Rising steadily, but not accelerating
Condo prices per m² have risen about 5% a year for the past five years, about the same pace as the five years before. On the government's benchmark sites, residential land rose 10.7% in the past year and 61% over ten years.
A ward that is not growing
Chiyoda's population fell 0.7% between 2020 and 2025, one of only three wards to shrink (with Shibuya and Meguro), while Tokyo grew 1.4%. The buyers are investors and companies more than new residents: almost half of condo sales are studios or 1K units, and the most traded unit is a 20 m² 1K at around ¥29M.
Newer is worth much more
Condos lose value fast with age here. Half the price is gone by about 40 years old, and pre-1981 condos sell at a deep discount to newer ones. The gap between the cheapest and most expensive quarter of sales is huge (about ¥31M against ¥160M), so the median says little about any one flat.
Rents and risks
A median condo costs about 33 years of the ward's median rent, a better ratio than the Tokyo average. Chiyoda is on high ground near the palace, and none of its benchmark sites are in deep flood zones. Two Urgent Urban Renewal Areas, Central Tokyo and Akihabara–Kanda, cover much of the ward.
Living in Chiyoda Ward: people, homes and risks
- Population 2025
- 66,199
- -0.7% since 2020
- Tokyo: +1.4%
- Net moves in 2025
- -51
- -0.77 per 1,000 residents
- Tokyo: +4.58
- Vacant homes (2023)
- 12.6%
- 1.4% empty and not for rent or sale
- Tokyo: 10.9%
- Median rent (2023)
- ¥128k
- per month, all rented homes
- Tokyo: ¥78k
- Strong earthquake risk
- 54.4%
- chance of shaking of intensity 6-lower or more within 30 years
- Tokyo: 52.8%
- Reported crime
- 44.8
- per 1,000 residents in 2025 (2,965 crimes recorded by the Tokyo police)
- Tokyo: 6.9
- Average income per taxpayer
- ¥11.8M
- taxable income in 2023
- Tokyo: ¥5.4M
- Daytime population
- 1355
- people here by day per 100 residents (2020 census)
- Foreign residents
- 6.0%
- 4,108 registered residents in 2024
- Tokyo: 5.2%
- Clinics
- 76.7
- per 10,000 residents; 15 hospitals, 332 dental clinics (2020)
- Tokyo: 9.8
- Official land price 2026
- ¥4.1M/m²
- +10.7% in a year · +37.7% in 5 years
- Tokyo: ¥407k/m²
- Flood exposure
- 44.1%
- of 59 benchmark sites in a worst-case flood zone (0.0% 3 m or deeper)
- Tokyo: 42.5%
- Landslide exposure
- 1.7%
- of 59 benchmark sites in a landslide warning area
- Tokyo: 0.8%
Urban renewal zones
Areas designated by the national government for priority redevelopment, with relaxed planning rules and financial support for large projects.
- Central Tokyo and Waterfront · 2043 ha · designated 2002 · Specified zone (highest priority)
- Akihabara and Kanda · 157 ha · designated 2002
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 Chiyoda Ward
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
¥30.0M
¥1.5M/m²
- Kandaizumicho
- Akihabara · 3 min walk
- 1K · 20 m²
- Built 2005 (21 yrs) · RC
¥60.0M
¥1.5M/m²
- Kandasakumacho
- Akihabara · 6 min walk
- 1LDK · 40 m²
- Built 2008 (18 yrs) · RC
¥220M
¥3.4M/m²
- Kandajimbocho
- Jimbocho · 0 min walk
- 2LDK · 65 m²
- Built 2003 (23 yrs) · SRC
House
¥250M
¥1.0M/m²
- Iidabashi
- Iidabashi · 4 min walk
- Land 75 m² · floor 240 m²
- Built 1986 (39 yrs) · Steel
¥530M
¥2.0M/m²
- Kandatsukasamachi
- Awajicho · 3 min walk
- Land 50 m² · floor 260 m²
- Built 2020 (5 yrs) · Steel
¥1.70B
¥1.4M/m²
- Hirakawacho
- Hanzomon · 4 min walk
- Land 185 m² · floor 1200 m²
- Built 1984 (42 yrs) · SRC
Show data table
| Year | Condo | House |
|---|---|---|
| 2005 | ¥22.0M | ¥240M |
| 2006 | ¥24.0M | ¥220M |
| 2007 | ¥28.0M | ¥225M |
| 2008 | ¥22.5M | ¥320M |
| 2009 | ¥27.0M | ¥180M |
| 2010 | ¥23.0M | ¥315M |
| 2011 | ¥27.5M | ¥190M |
| 2012 | ¥22.0M | ¥190M |
| 2013 | ¥23.0M | ¥300M |
| 2014 | ¥24.0M | ¥285M |
| 2015 | ¥23.0M | ¥250M |
| 2016 | ¥28.0M | ¥255M |
| 2017 | ¥29.5M | ¥340M |
| 2018 | ¥30.0M | ¥380M |
| 2019 | ¥32.0M | ¥305M |
| 2020 | ¥34.0M | ¥340M |
| 2021 | ¥40.0M | ¥430M |
| 2022 | ¥39.5M | ¥460M |
| 2023 | ¥43.0M | ¥550M |
| 2024 | ¥48.5M | ¥525M |
| 2025 | ¥50.0M | ¥530M |
| 2026 (partial) | ¥87.0M | – |
Show data table
| Year | Condo | House | Land |
|---|---|---|---|
| 2005 | ¥1.0M/m² | ¥469k/m² | – |
| 2006 | ¥800k/m² | ¥542k/m² | ¥1.5M/m² |
| 2007 | ¥856k/m² | ¥667k/m² | ¥2.0M/m² |
| 2008 | ¥867k/m² | ¥593k/m² | – |
| 2009 | ¥780k/m² | ¥467k/m² | – |
| 2010 | ¥800k/m² | ¥550k/m² | ¥1.3M/m² |
| 2011 | ¥800k/m² | ¥542k/m² | ¥1.0M/m² |
| 2012 | ¥800k/m² | ¥411k/m² | – |
| 2013 | ¥825k/m² | ¥469k/m² | ¥1.7M/m² |
| 2014 | ¥950k/m² | ¥562k/m² | – |
| 2015 | ¥1.0M/m² | ¥551k/m² | – |
| 2016 | ¥1.1M/m² | ¥667k/m² | – |
| 2017 | ¥1.1M/m² | ¥880k/m² | – |
| 2018 | ¥1.1M/m² | ¥897k/m² | – |
| 2019 | ¥1.2M/m² | ¥789k/m² | – |
| 2020 | ¥1.2M/m² | ¥1.1M/m² | ¥2.9M/m² |
| 2021 | ¥1.3M/m² | ¥966k/m² | – |
| 2022 | ¥1.3M/m² | ¥1.1M/m² | – |
| 2023 | ¥1.3M/m² | ¥1.2M/m² | – |
| 2024 | ¥1.5M/m² | ¥1.2M/m² | – |
| 2025 | ¥1.6M/m² | ¥1.5M/m² | – |
| 2026 (partial) | ¥1.9M/m² | – | – |
Show data table
| Building age (years) | Condo | House |
|---|---|---|
| 0 | – | ¥1.8M/m² |
| 1 | ¥2.4M/m² | – |
| 2 | ¥2.3M/m² | – |
| 3 | ¥1.6M/m² | – |
| 4 | ¥1.8M/m² | – |
| 5 | ¥2.2M/m² | – |
| 6 | ¥1.5M/m² | – |
| 7 | ¥2.0M/m² | – |
| 8 | ¥1.6M/m² | – |
| 9 | ¥1.5M/m² | – |
| 10 | ¥1.5M/m² | – |
| 11 | ¥1.6M/m² | – |
| 12 | ¥1.5M/m² | – |
| 13 | ¥1.4M/m² | – |
| 14 | ¥1.3M/m² | – |
| 15 | ¥1.4M/m² | – |
| 16 | ¥1.3M/m² | – |
| 17 | ¥1.3M/m² | – |
| 18 | ¥1.4M/m² | – |
| 19 | ¥1.3M/m² | – |
| 20 | ¥1.4M/m² | – |
| 21 | ¥1.5M/m² | – |
| 22 | ¥1.5M/m² | – |
| 23 | ¥1.2M/m² | – |
| 24 | ¥1.4M/m² | – |
| 25 | ¥1.5M/m² | – |
| 33 | – | ¥1.1M/m² |
| 34 | – | ¥813k/m² |
| 37 | ¥1.1M/m² | – |
| 38 | ¥1.2M/m² | – |
| 39 | ¥1.1M/m² | – |
| 40 | ¥1.1M/m² | – |
| 41 | ¥1.0M/m² | – |
| 42 | ¥1.1M/m² | – |
| 43 | ¥1.0M/m² | – |
| 44 | ¥1.0M/m² | – |
| 45 | ¥1.2M/m² | – |
| 46 | ¥1.1M/m² | – |
| 47 | ¥1.1M/m² | – |
| 48 | ¥1.3M/m² | – |
| 50 | ¥1.3M/m² | ¥960k/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 |
|---|---|---|---|---|
| 2005 | – | – | ¥1.0M/m² | – |
| 2006 | ¥553k/m² | ¥733k/m² | ¥1.0M/m² | – |
| 2007 | ¥567k/m² | ¥800k/m² | ¥1.1M/m² | – |
| 2008 | ¥610k/m² | ¥829k/m² | ¥1.1M/m² | – |
| 2009 | ¥590k/m² | ¥670k/m² | ¥944k/m² | – |
| 2010 | ¥550k/m² | ¥750k/m² | ¥950k/m² | – |
| 2011 | ¥560k/m² | ¥645k/m² | ¥942k/m² | – |
| 2012 | ¥500k/m² | ¥690k/m² | ¥900k/m² | – |
| 2013 | ¥527k/m² | ¥686k/m² | ¥992k/m² | ¥1.1M/m² |
| 2014 | ¥590k/m² | ¥800k/m² | ¥1.0M/m² | ¥1.4M/m² |
| 2015 | ¥650k/m² | ¥935k/m² | ¥1.1M/m² | ¥1.4M/m² |
| 2016 | ¥783k/m² | ¥1.0M/m² | ¥1.1M/m² | ¥1.2M/m² |
| 2017 | ¥850k/m² | ¥1.0M/m² | ¥1.1M/m² | ¥1.3M/m² |
| 2018 | ¥800k/m² | ¥1.0M/m² | ¥1.2M/m² | ¥1.3M/m² |
| 2019 | ¥867k/m² | ¥1.1M/m² | ¥1.2M/m² | ¥1.4M/m² |
| 2020 | ¥933k/m² | ¥1.1M/m² | ¥1.2M/m² | ¥1.5M/m² |
| 2021 | ¥933k/m² | ¥1.1M/m² | ¥1.3M/m² | ¥1.5M/m² |
| 2022 | – | ¥1.2M/m² | ¥1.3M/m² | ¥1.5M/m² |
| 2023 | ¥1.1M/m² | ¥1.1M/m² | ¥1.3M/m² | ¥1.6M/m² |
| 2024 | ¥1.1M/m² | ¥1.4M/m² | ¥1.4M/m² | ¥2.0M/m² |
| 2025 | ¥1.2M/m² | ¥1.3M/m² | ¥1.5M/m² | ¥2.6M/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 |
|---|---|---|
| 2005 | – | ¥503k/m² |
| 2006 | ¥410k/m² | ¥533k/m² |
| 2007 | – | ¥658k/m² |
| 2008 | – | ¥636k/m² |
| 2009 | – | ¥484k/m² |
| 2011 | – | ¥461k/m² |
| 2013 | – | ¥485k/m² |
| 2014 | – | ¥562k/m² |
| 2015 | – | ¥684k/m² |
| 2016 | – | ¥698k/m² |
| 2017 | – | ¥923k/m² |
| 2018 | – | ¥941k/m² |
| 2019 | – | ¥819k/m² |
| 2022 | – | ¥1.1M/m² |
Prices near train stations in Chiyoda Ward
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) |
|---|---|---|---|---|---|---|
| Hanzomon (半蔵門) | ¥170M | ¥2.0M/m² | ¥1.45B | 3 | 77 | 71,847-22% vs 2019 |
| Iwamotocho (岩本町) | ¥34.0M | ¥1.4M/m² | ¥500M | 3 | 76 | 49,899-10% vs 2019 |
| Jimbocho (神保町) | ¥62.5M | ¥1.9M/m² | ¥285M | 2 | 70 | 212,604-45% vs 2019 |
| Kanda(Tokyo) (神田(東京)) | ¥35.5M | ¥1.3M/m² | ¥645M | 2 | 66 | 229,362-16% vs 2019 |
| Ichigaya (市ケ谷) | ¥100M | ¥1.6M/m² | – | 4 | 64 | 184,551-19% vs 2019 |
| Akihabara (秋葉原) | ¥47.5M | ¥1.4M/m² | ¥340M | 4 | 58 | 647,929-16% vs 2019 |
| Kudanshita (九段下) | ¥80.0M | ¥1.7M/m² | – | 4 | 50 | 258,062-12% vs 2019 |
| Kojimachi (麹町) | ¥44.0M | ¥1.4M/m² | – | 2 | 49 | 54,142-17% vs 2019 |
| Bakurocho (馬喰町) | ¥29.0M | ¥1.3M/m² | – | 3 | 41 | 48,064-8% vs 2019 |
| Iidabashi (飯田橋) | ¥110M | ¥2.0M/m² | – | 3 | 35 | 282,824-26% vs 2019 |
| Suehirocho(Tokyo) (末広町(東京)) | ¥33.0M | ¥1.3M/m² | ¥450M | 2 | 33 | 24,601-8% vs 2019 |
| Ogawamachi(Tokyo) (小川町(東京)) | ¥31.0M | ¥1.4M/m² | – | 3 | 31 | 69,171-7% vs 2019 |
| Suidobashi (水道橋) | ¥35.0M | ¥1.3M/m² | ¥900M | 4 | 31 | 137,154-18% vs 2019 |
| Asakusabashi (浅草橋) | ¥42.0M | ¥1.1M/m² | – | 4 | 24 | 153,123-10% vs 2019 |
| Ochanomizu (御茶ノ水) | ¥17.0M | ¥1.1M/m² | – | 2 | 24 | 171,914-19% vs 2019 |
Used condo prices by layout in Chiyoda Ward
Sales from 2023–2025.
| Layout | Median used condo price | Typical size | Sales |
|---|---|---|---|
| 1K | ¥29.0M | 20 m² | 249 |
| 1LDK | ¥65.0M | 40 m² | 130 |
| 2LDK | ¥150M | 65 m² | 114 |
| 3LDK | ¥220M | 85 m² | 53 |
| 1DK | ¥43.5M | 30 m² | 38 |
| 1R | ¥20.0M | 15 m² | 17 |
| 2DK | ¥60.0M | 47.5 m² | 16 |
| Open floor | ¥145M | 80 m² | 12 |
How much does an apartment cost in Chiyoda Ward?
The median used condo (mansion) in Chiyoda Ward sold for ¥50.0M in 2025, about ¥1.6M/m², based on 261 recorded sales.
How much does a house cost in Chiyoda Ward?
The median house sale, including the land, was ¥530M in 2025 across 43 sales.
Are property prices in Chiyoda Ward going up?
Over the five years to 2025, condo prices per m² changed +33.3%.
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.