Shinagawa Ward Housing Market 2026: Two Renewal Areas and Steady Demand
Data updated 2026-11-11 · Source: MLIT transaction price survey, 2005 Q3–2026 Q2 · Transactions in 2025: 1,251
In short
- 1North versus south
Osaki and Gotanda in the north, near the Yamanote line, are the priciest at about ¥1.5–1.6M per m².
- 2Small flats dominate
Almost half of condo sales are studios and 1K units.
- 3Renewal and risks
Two Urgent Urban Renewal Areas, Shinagawa–Tamachi and Osaki, are in the ward.
The answers, compared
What does a home cost?
¥40.0M
median used condo · ¥1.4M/m²
27% above the Tokyo median
7 of 47 areas in Tokyo, highest first
Are prices rising?
+29.9%
over 5 years
Faster than Tokyo (+26.5%)
28 of 50 areas in Tokyo, highest first
Can local earners afford it?
6.7× income
median price ÷ average taxable income
In line with Tokyo (6.8×)
31 of 50 areas in Tokyo, highest first
Rent or buy?
36years of rent
median price ÷ a year of median rent
Shorter than Tokyo (39)
32 of 50 areas in Tokyo, highest first
Are people moving in?
+0.9%
population, 2020–25
In line with Tokyo (+1.4%)
26 of 50 areas in Tokyo, highest first
How risky is it?
53%
chance of strong shaking (6-lower+) in 30 years
In line with Tokyo (53%)
14 of 50 areas in Tokyo, highest first
Rent in Shinagawa Ward
The average private rental costs ¥107k a month (2023), +7.6% since 2018. Tokyo: ¥95k
| Floor area | Typical layout | Average rent / month | Shinagawa WardTokyo |
|---|---|---|---|
| under 30 m² studio / 1K | studio / 1K | ¥80k vs 2018 +4.8% · Tokyo: ¥70k | |
| 30–49 m² 1LDK / 2DK | 1LDK / 2DK | ¥122k vs 2018 +19.4% · Tokyo: ¥99k | |
| 50–69 m² 2LDK / 3DK | 2LDK / 3DK | ¥158k vs 2018 +15.6% · Tokyo: ¥126k | |
| 70–99 m² 3LDK / family | 3LDK / family | ¥173k vs 2018 +7.3% · Tokyo: ¥155k | |
| 100–149 m² mostly houses | mostly houses | ¥174k vs 2018 -13.1% · Tokyo: ¥191k | |
| 150 m² + mostly houses | mostly houses | ¥87k vs 2018 -9.6% · Tokyo: ¥271k |
- Rent per m²
- ¥3,387
- median, per month · Tokyo: ¥2,800
- The median used condo (¥40.0M, 35 m²) costs about 27 years of average rent for a similar-sized home (¥122k 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. 108,610 rented homes.
Strong inflow
Shinagawa's population rose only 0.9% between 2020 and 2025, but in 2025 more people moved in from the rest of Japan than left, about 6 per 1,000 residents, seventh among the 23 wards. Households grew faster (+3.7%), so many newcomers live alone.
Prices
Condos cost about ¥1.4M per m², 1.3 times the Tokyo average and seventh among the wards. Prices per m² have risen about 5% a year for the past five years, slightly faster than before. The median condo sold for about ¥40M. Benchmark residential land rose 13% in the past year and 75% over ten years, and is only about 12% below its 1991 peak.
North versus south
Osaki and Gotanda in the north, near the Yamanote line, are the priciest at about ¥1.5–1.6M per m². Omori in the south sells at about ¥0.9M. Condos within 5 minutes of a station sell for about 17% more per m² than those 11–15 minutes away.
Small flats dominate
Almost half of condo sales are studios and 1K units. 2LDK and 3LDK are also common, especially along the Keikyu and Oimachi lines.
Renewal and risks
Two Urgent Urban Renewal Areas, Shinagawa–Tamachi and Osaki, are in the ward. The Shinagawa area will also gain the maglev Chuo Shinkansen terminal. About 40% of benchmark sites are in a flood zone, all of them shallow. A median condo costs about 36 years of median rent, a little better than the Tokyo average.
Living in Shinagawa Ward: people, homes and risks
- Population 2025
- 426,403
- +0.9% since 2020
- Tokyo: +1.4%
- Net moves in 2025
- +2,693
- +6.32 per 1,000 residents
- Tokyo: +4.58
- Vacant homes (2023)
- 10.1%
- 2.1% empty and not for rent or sale
- Tokyo: 10.9%
- Median rent (2023)
- ¥92k
- per month, all rented homes
- Tokyo: ¥78k
- Strong earthquake risk
- 53.1%
- chance of shaking of intensity 6-lower or more within 30 years
- Tokyo: 52.8%
- Reported crime
- 5.2
- per 1,000 residents in 2025 (2,225 crimes recorded by the Tokyo police)
- Tokyo: 6.9
- Average income per taxpayer
- ¥6.0M
- taxable income in 2023
- Tokyo: ¥5.4M
- Daytime population
- 138
- people here by day per 100 residents (2020 census)
- Foreign residents
- 4.1%
- 17,010 registered residents in 2024
- Tokyo: 5.2%
- Clinics
- 11.3
- per 10,000 residents; 15 hospitals, 353 dental clinics (2020)
- Tokyo: 9.8
- Official land price 2026
- ¥1.1M/m²
- +13.4% in a year · +44.3% in 5 years
- Tokyo: ¥407k/m²
- Flood exposure
- 39.7%
- of 58 benchmark sites in a worst-case flood zone (0.0% 3 m or deeper)
- Tokyo: 42.5%
- Landslide exposure
- 0.0%
- of 58 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.
- Shinagawa and Tamachi Station area · 184 ha · designated 2012 · Specified zone (highest priority)
- Osaki Station area · 61 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 Shinagawa 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
¥25.0M
¥1.3M/m²
- Togoshi
- Togoshi · 3 min walk
- 1K · 20 m²
- Built 2005 (21 yrs) · RC
¥34.0M
¥1.7M/m²
- Higashioi
- Samezu · 3 min walk
- 1K · 20 m²
- Built 2021 (5 yrs) · RC
¥95.0M
¥1.7M/m²
- Futaba
- Shimo Shimmei · 2 min walk
- 2LDK · 55 m²
- Built 2005 (20 yrs) · RC
House
¥58.0M
¥1.1M/m²
- Oi
- Oimachi · 9 min walk
- Land 55 m² · floor 55 m²
- Built 2018 (7 yrs) · Wood
¥120M
¥1.1M/m²
- Hatanodai
- Hatanodai · 6 min walk
- Land 80 m² · floor 110 m²
- Built 2026 (0 yrs) · Wood
¥280M
¥1.1M/m²
- Higashioi
- Tachiaigawa · 6 min walk
- Land 175 m² · floor 260 m²
- Built 2017 (9 yrs) · Wood
Show data table
| Year | Condo | House |
|---|---|---|
| 2005 | ¥20.0M | ¥60.0M |
| 2006 | ¥23.0M | ¥60.0M |
| 2007 | ¥27.0M | ¥67.0M |
| 2008 | ¥24.0M | ¥60.0M |
| 2009 | ¥31.0M | ¥53.0M |
| 2010 | ¥36.0M | ¥57.0M |
| 2011 | ¥26.0M | ¥51.0M |
| 2012 | ¥27.0M | ¥53.0M |
| 2013 | ¥26.0M | ¥54.0M |
| 2014 | ¥25.0M | ¥53.0M |
| 2015 | ¥29.5M | ¥61.0M |
| 2016 | ¥26.0M | ¥61.0M |
| 2017 | ¥27.0M | ¥63.0M |
| 2018 | ¥28.0M | ¥68.5M |
| 2019 | ¥30.0M | ¥68.0M |
| 2020 | ¥33.0M | ¥66.0M |
| 2021 | ¥33.0M | ¥80.0M |
| 2022 | ¥35.0M | ¥90.0M |
| 2023 | ¥32.0M | ¥84.0M |
| 2024 | ¥40.0M | ¥94.0M |
| 2025 | ¥40.0M | ¥110M |
| 2026 (partial) | ¥33.0M | ¥130M |
Show data table
| Year | Condo | House | Land |
|---|---|---|---|
| 2005 | ¥640k/m² | ¥587k/m² | ¥580k/m² |
| 2006 | ¥740k/m² | ¥617k/m² | ¥650k/m² |
| 2007 | ¥750k/m² | ¥591k/m² | ¥680k/m² |
| 2008 | ¥727k/m² | ¥600k/m² | ¥620k/m² |
| 2009 | ¥750k/m² | ¥576k/m² | ¥570k/m² |
| 2010 | ¥867k/m² | ¥576k/m² | ¥590k/m² |
| 2011 | ¥700k/m² | ¥537k/m² | ¥570k/m² |
| 2012 | ¥667k/m² | ¥537k/m² | ¥570k/m² |
| 2013 | ¥673k/m² | ¥555k/m² | ¥600k/m² |
| 2014 | ¥800k/m² | ¥573k/m² | ¥660k/m² |
| 2015 | ¥854k/m² | ¥588k/m² | ¥620k/m² |
| 2016 | ¥900k/m² | ¥640k/m² | ¥685k/m² |
| 2017 | ¥933k/m² | ¥664k/m² | ¥820k/m² |
| 2018 | ¥1.0M/m² | ¥709k/m² | ¥710k/m² |
| 2019 | ¥1.0M/m² | ¥711k/m² | ¥770k/m² |
| 2020 | ¥1.1M/m² | ¥737k/m² | ¥780k/m² |
| 2021 | ¥1.1M/m² | ¥776k/m² | ¥900k/m² |
| 2022 | ¥1.1M/m² | ¥861k/m² | ¥910k/m² |
| 2023 | ¥1.1M/m² | ¥864k/m² | ¥1.0M/m² |
| 2024 | ¥1.3M/m² | ¥943k/m² | ¥970k/m² |
| 2025 | ¥1.4M/m² | ¥1.0M/m² | ¥1.1M/m² |
| 2026 (partial) | ¥1.4M/m² | ¥1.1M/m² | ¥1.2M/m² |
Show data table
| Building age (years) | Condo | House |
|---|---|---|
| 0 | ¥1.7M/m² | ¥1.0M/m² |
| 1 | ¥1.7M/m² | ¥1.1M/m² |
| 2 | ¥1.3M/m² | ¥1.0M/m² |
| 3 | ¥1.4M/m² | ¥1.0M/m² |
| 4 | ¥1.4M/m² | ¥1.0M/m² |
| 5 | ¥1.4M/m² | ¥987k/m² |
| 6 | ¥1.5M/m² | ¥1.0M/m² |
| 7 | ¥1.4M/m² | ¥962k/m² |
| 8 | ¥1.4M/m² | ¥1.0M/m² |
| 9 | ¥1.3M/m² | ¥856k/m² |
| 10 | ¥1.3M/m² | – |
| 11 | ¥1.4M/m² | – |
| 12 | ¥1.3M/m² | ¥939k/m² |
| 13 | ¥1.3M/m² | ¥850k/m² |
| 14 | ¥1.3M/m² | – |
| 15 | ¥1.3M/m² | ¥960k/m² |
| 16 | ¥1.3M/m² | – |
| 17 | ¥1.2M/m² | ¥875k/m² |
| 18 | ¥1.2M/m² | – |
| 19 | ¥1.2M/m² | ¥929k/m² |
| 20 | ¥1.3M/m² | ¥880k/m² |
| 21 | ¥1.2M/m² | – |
| 22 | ¥1.2M/m² | ¥800k/m² |
| 23 | ¥1.2M/m² | – |
| 24 | ¥1.1M/m² | – |
| 25 | ¥1.1M/m² | ¥680k/m² |
| 26 | ¥1.1M/m² | ¥861k/m² |
| 27 | ¥1.1M/m² | ¥775k/m² |
| 28 | ¥1.0M/m² | ¥613k/m² |
| 29 | ¥1.1M/m² | ¥627k/m² |
| 30 | ¥1.0M/m² | ¥675k/m² |
| 31 | ¥1.0M/m² | ¥439k/m² |
| 32 | ¥1.0M/m² | ¥695k/m² |
| 33 | ¥933k/m² | ¥528k/m² |
| 34 | ¥750k/m² | ¥645k/m² |
| 35 | ¥844k/m² | ¥740k/m² |
| 36 | ¥800k/m² | ¥769k/m² |
| 37 | ¥834k/m² | ¥671k/m² |
| 38 | ¥739k/m² | ¥756k/m² |
| 39 | ¥845k/m² | ¥676k/m² |
| 40 | ¥910k/m² | ¥667k/m² |
| 41 | ¥800k/m² | ¥1.0M/m² |
| 42 | ¥833k/m² | ¥544k/m² |
| 43 | ¥800k/m² | ¥588k/m² |
| 44 | ¥810k/m² | ¥701k/m² |
| 45 | ¥743k/m² | ¥619k/m² |
| 46 | ¥889k/m² | ¥615k/m² |
| 47 | ¥800k/m² | – |
| 48 | ¥700k/m² | – |
| 49 | ¥800k/m² | ¥652k/m² |
| 50 | ¥750k/m² | ¥664k/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 | ¥375k/m² | ¥578k/m² | ¥1.0M/m² | – |
| 2006 | ¥400k/m² | ¥600k/m² | ¥1.1M/m² | – |
| 2007 | ¥526k/m² | ¥625k/m² | ¥989k/m² | – |
| 2008 | ¥483k/m² | ¥633k/m² | ¥1.0M/m² | – |
| 2009 | ¥450k/m² | ¥600k/m² | ¥1.0M/m² | – |
| 2010 | ¥500k/m² | ¥657k/m² | ¥1.1M/m² | – |
| 2011 | ¥428k/m² | ¥636k/m² | ¥800k/m² | ¥1.1M/m² |
| 2012 | ¥460k/m² | ¥600k/m² | ¥800k/m² | ¥964k/m² |
| 2013 | ¥475k/m² | ¥600k/m² | ¥829k/m² | ¥1.1M/m² |
| 2014 | ¥491k/m² | ¥653k/m² | ¥900k/m² | ¥1.2M/m² |
| 2015 | ¥545k/m² | ¥692k/m² | ¥1.0M/m² | ¥1.1M/m² |
| 2016 | ¥575k/m² | ¥753k/m² | ¥1.0M/m² | ¥1.1M/m² |
| 2017 | ¥594k/m² | ¥800k/m² | ¥1.0M/m² | ¥1.2M/m² |
| 2018 | ¥617k/m² | ¥800k/m² | ¥1.1M/m² | ¥1.3M/m² |
| 2019 | ¥640k/m² | ¥818k/m² | ¥1.1M/m² | ¥1.3M/m² |
| 2020 | ¥700k/m² | ¥867k/m² | ¥1.1M/m² | ¥1.2M/m² |
| 2021 | ¥800k/m² | ¥942k/m² | ¥1.1M/m² | ¥1.3M/m² |
| 2022 | ¥720k/m² | ¥960k/m² | ¥1.2M/m² | ¥1.3M/m² |
| 2023 | ¥800k/m² | ¥950k/m² | ¥1.2M/m² | ¥1.4M/m² |
| 2024 | ¥776k/m² | ¥1.1M/m² | ¥1.3M/m² | ¥1.4M/m² |
| 2025 | ¥818k/m² | ¥1.1M/m² | ¥1.4M/m² | ¥1.6M/m² |
| 2026 (partial) | – | ¥1.1M/m² | ¥1.5M/m² | ¥1.7M/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 | – | ¥475k/m² | ¥645k/m² | – |
| 2006 | ¥432k/m² | ¥500k/m² | ¥671k/m² | – |
| 2007 | ¥427k/m² | ¥498k/m² | ¥706k/m² | – |
| 2008 | – | ¥467k/m² | ¥689k/m² | – |
| 2009 | – | ¥400k/m² | ¥611k/m² | – |
| 2010 | – | ¥500k/m² | ¥644k/m² | – |
| 2011 | – | ¥417k/m² | – | ¥632k/m² |
| 2012 | – | ¥400k/m² | – | ¥611k/m² |
| 2013 | ¥346k/m² | ¥400k/m² | – | ¥622k/m² |
| 2014 | ¥446k/m² | ¥462k/m² | ¥622k/m² | ¥653k/m² |
| 2015 | – | ¥480k/m² | – | ¥737k/m² |
| 2016 | – | ¥530k/m² | ¥627k/m² | ¥732k/m² |
| 2017 | ¥467k/m² | ¥553k/m² | – | ¥733k/m² |
| 2018 | ¥550k/m² | ¥522k/m² | – | ¥831k/m² |
| 2019 | – | ¥563k/m² | – | ¥814k/m² |
| 2020 | ¥680k/m² | ¥611k/m² | ¥701k/m² | ¥800k/m² |
| 2021 | ¥538k/m² | ¥616k/m² | – | ¥862k/m² |
| 2022 | ¥800k/m² | ¥667k/m² | – | ¥1.1M/m² |
| 2023 | ¥552k/m² | ¥721k/m² | ¥867k/m² | ¥975k/m² |
| 2024 | ¥618k/m² | ¥657k/m² | ¥812k/m² | ¥1.0M/m² |
| 2025 | ¥690k/m² | ¥730k/m² | – | ¥1.1M/m² |
Prices near train stations in Shinagawa 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) |
|---|---|---|---|---|---|---|
| Osaki (大崎) | ¥75.0M | ¥1.6M/m² | ¥130M | 6 | 244 | 375,884+9% vs 2019 |
| Gotanda (五反田) | ¥35.0M | ¥1.5M/m² | ¥340M | 6 | 242 | 364,894-22% vs 2019 |
| Oimachi (大井町) | ¥41.5M | ¥1.3M/m² | ¥82.5M | 6 | 238 | 349,469-21% vs 2019 |
| Tachiaigawa (立会川) | ¥34.0M | ¥1.1M/m² | ¥83.0M | 6 | 185 | 16,820-13% vs 2019 |
| Omorikaigan (大森海岸) | ¥28.0M | ¥1.2M/m² | – | 6 | 178 | 12,949-22% vs 2019 |
| Fudo Mae (不動前) | ¥49.5M | ¥1.4M/m² | ¥175M | 5 | 162 | 28,265-10% vs 2019 |
| Togoshi (戸越) | ¥29.0M | ¥1.3M/m² | ¥91.0M | 6 | 158 | 20,035-12% vs 2019 |
| Nishi Oi (西大井) | ¥31.0M | ¥1.3M/m² | ¥82.0M | 7 | 156 | 35,376+12% vs 2019 |
| Musashi Koyama (武蔵小山) | ¥43.0M | ¥1.3M/m² | ¥110M | 6 | 150 | 51,900-2% vs 2019 |
| Omori(Tokyo) (大森(東京)) | ¥35.0M | ¥933k/m² | ¥130M | 8 | 148 | 156,466-19% vs 2019 |
| Shimbamba (新馬場) | ¥32.5M | ¥1.2M/m² | ¥90.0M | 5 | 137 | 14,577-14% vs 2019 |
| Ebara Nakanobu (荏原中延) | ¥26.0M | ¥1.1M/m² | ¥75.0M | 5 | 117 | 12,393-11% vs 2019 |
| Togoshi Ginza (戸越銀座) | ¥24.0M | ¥1.1M/m² | ¥95.0M | 5 | 103 | 18,702-9% vs 2019 |
| Hatanodai (旗の台) | ¥22.0M | ¥1.0M/m² | ¥88.5M | 5 | 94 | 38,032-6% vs 2019 |
| Meguro (目黒) | ¥81.0M | ¥1.6M/m² | ¥260M | 7 | 83 | 636,632+23% vs 2019 |
Used condo prices by layout in Shinagawa Ward
Sales from 2023–2025.
| Layout | Median used condo price | Typical size | Sales |
|---|---|---|---|
| 1K | ¥25.0M | 20 m² | 894 |
| 2LDK | ¥75.0M | 55 m² | 443 |
| 3LDK | ¥87.0M | 70 m² | 384 |
| 1LDK | ¥52.0M | 40 m² | 278 |
| 1DK | ¥28.0M | 25 m² | 129 |
| 2DK | ¥36.0M | 42.5 m² | 70 |
| 1R | ¥15.0M | 15 m² | 32 |
| Open floor | ¥66.0M | 60 m² | 13 |
How much does an apartment cost in Shinagawa Ward?
The median used condo (mansion) in Shinagawa Ward sold for ¥40.0M in 2025, about ¥1.4M/m², based on 843 recorded sales.
How much does a house cost in Shinagawa Ward?
The median house sale, including the land, was ¥110M in 2025 across 260 sales.
Are property prices in Shinagawa Ward going up?
Over the five years to 2025, condo prices per m² changed +29.9% and residential land prices changed +41.0%.
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.