Photo: Roppongi, Minato, Tokyo · Takashi Miyazaki / Unsplash

Shinjuku Ward Housing Market 2026: Studios, Students and a Big House-Price Jump

Data updated 2026-11-11 · Source: MLIT transaction price survey, 2005 Q3–2026 Q2 · Transactions in 2025: 1,158

In short

1
The busiest ward for sales
Shinjuku had about 1,150 recorded sales in 2025, more than any of the central wards.
2
House prices jumped in 2025
The median house sold for about ¥180M in 2025, against ¥130M in 2024.
3
A strange population picture
Shinjuku grew 3.5% between 2020 and 2025, and households grew 6.7%.
4
Station distance has a big premium
Condos within 5 minutes of a station sell for about 18% more per m² than those 11–15 minutes away.
5
Rents and risks
A median condo costs about 38 years of median rent, close to the Tokyo average.

The answers, compared

What does a home cost?

¥43.0M

median used condo · ¥1.4M/m²

30% above the Tokyo median

6 of 47 areas in Tokyo, highest first

Are prices rising?

+27.3%

over 5 years

Faster than Tokyo (+26.5%)

36 of 50 areas in Tokyo, highest first

Can local earners afford it?

6.6× income

median price ÷ average taxable income

In line with Tokyo (6.8×)

34 of 50 areas in Tokyo, highest first

Rent or buy?

38years of rent

median price ÷ a year of median rent

In line with Tokyo (39)

29 of 50 areas in Tokyo, highest first

Are people moving in?

+3.5%

population, 2020–25

Faster than Tokyo (+1.4%)

9 of 50 areas in Tokyo, highest first

How risky is it?

50%

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

Lower than Tokyo (53%)

18 of 50 areas in Tokyo, highest first

Rent in Shinjuku Ward

The average private rental costs ¥119k a month (2023), +16.3% since 2018. Tokyo: ¥95k

Floor area	Typical layout	Average rent / month
under 30 m² studio / 1K	studio / 1K	¥83k vs 2018 +8.1% · Tokyo: ¥70k
30–49 m² 1LDK / 2DK	1LDK / 2DK	¥122k vs 2018 +6.7% · Tokyo: ¥99k
50–69 m² 2LDK / 3DK	2LDK / 3DK	¥157k vs 2018 +13.5% · Tokyo: ¥126k
70–99 m² 3LDK / family	3LDK / family	¥214k vs 2018 +2.9% · Tokyo: ¥155k
100–149 m² mostly houses	mostly houses	¥412k vs 2018 +137.2% · Tokyo: ¥191k
150 m² + mostly houses	mostly houses	¥696k vs 2018 +61.7% · Tokyo: ¥271k

Rent per m²: ¥3,506; median, per month · Tokyo: ¥2,800; The median used condo (¥43.0M, 30 m²) costs about 29 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. 112,800 rented homes.

The busiest ward for sales

Shinjuku had about 1,150 recorded sales in 2025, more than any of the central wards. More than half of condo sales are studios and 1K units; the 20 m² 1K at about ¥26M is the most traded home in the ward. Condos cost about ¥1.4M per m², about 1.3 times the Tokyo average, the sixth highest of the 23 wards.

House prices jumped in 2025

The median house sold for about ¥180M in 2025, against ¥130M in 2024. This is mainly a change in what sold, not every house becoming 40% more valuable: per m², houses rose about 10%. Condo prices have risen about 5% a year for a decade, without speeding up.

A strange population picture

Shinjuku grew 3.5% between 2020 and 2025, and households grew 6.7%. Yet in 2025 it had the biggest net outflow to the rest of Japan of any ward, about 10 people per 1,000. The growth most likely comes from abroad, from students and workers who rent the ward's many small flats.

Station distance has a big premium

Condos within 5 minutes of a station sell for about 18% more per m² than those 11–15 minutes away. Kagurazaka and Shinjuku-Gyoemmae are the priciest of the busiest stations; Shimo-Ochiai and Ochiai-Minami-Nagasaki are the cheapest.

Rents and risks

A median condo costs about 38 years of median rent, close to the Tokyo average. Shinjuku is mostly on high ground: fewer than one in five benchmark sites is in a flood zone, one of the lowest shares among the wards. The Shinjuku Station area is an Urgent Urban Renewal Area, and its major rebuilding is under way.

Living in Shinjuku Ward: people, homes and risks

Population 2025: 361,634; +3.5% since 2020; Tokyo: +1.4%
Net moves in 2025: -3,776; -10.44 per 1,000 residents; Tokyo: +4.58
Vacant homes (2023): 11.2%; 0.5% empty and not for rent or sale; Tokyo: 10.9%
Median rent (2023): ¥93k; per month, all rented homes; Tokyo: ¥78k
Strong earthquake risk: 49.5%; chance of shaking of intensity 6-lower or more within 30 years; Tokyo: 52.8%
Reported crime: 19.3; per 1,000 residents in 2025 (6,977 crimes recorded by the Tokyo police); Tokyo: 6.9
Average income per taxpayer: ¥6.5M; taxable income in 2023; Tokyo: ¥5.4M
Daytime population: 227; people here by day per 100 residents (2020 census)
Foreign residents: 13.6%; 48,097 registered residents in 2024; Tokyo: 5.2%
Clinics: 18.7; per 10,000 residents; 13 hospitals, 430 dental clinics (2020); Tokyo: 9.8
Official land price 2026: ¥1.1M/m²; +10.4% in a year · +40.0% in 5 years; Tokyo: ¥407k/m²
Flood exposure: 18.2%; of 77 benchmark sites in a worst-case flood zone (0.0% 3 m or deeper); Tokyo: 42.5%
Landslide exposure: 0.0%; of 77 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.

Shinjuku Station area · 221 ha · designated 2002 · Specified zone (highest priority)

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 Shinjuku 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

Lower-priced2026 Q2

¥26.0M

¥1.3M/m²

Kitashinjuku
Okubo(Tokyo) · 10 min walk
1K · 20 m²
Built 1986 (40 yrs) · RC

Typical2026 Q2

¥43.0M

¥2.1M/m²

Kitashinjuku
Higashi Nakano · 3 min walk
1K · 20 m²
Built 2020 (6 yrs) · RC

Higher-priced2026 Q2

¥84.0M

¥1.9M/m²

Kagurazaka
Iidabashi · 1 min walk
2DK · 45 m²
Built 2001 (25 yrs) · RC

House

Lower-priced2026 Q2

¥90.0M

¥857k/m²

Nakai
Nakai · 4 min walk
Land 75 m² · floor 105 m²
Built 2026 (0 yrs) · Wood

Typical2026 Q1

¥220M

¥1.2M/m²

Yaraicho
Kagurazaka · 4 min walk
Land 175 m² · floor 180 m²
Built 1984 (42 yrs) · Light steel

Higher-priced2026 Q1

¥560M

¥1.0M/m²

Nakaochiai
Nakai · 5 min walk
Land 240 m² · floor 540 m²
Built 2020 (6 yrs) · RC

Median transaction price by yearA jump driven by what sold — The median house price rose 57% between 2023 and 2025. Per m², prices rose only 17%, so most of the jump comes from larger or higher-end properties changing hands, not from the same homes getting that much more expensive.A sharp recent rise — The median condo price rose 26% between 2023 and 2025. Prices per m² rose 17%, so most of it is a real increase, with the rest coming from larger homes selling.2026 so far: treat with caution — The 2026 figure (shaded) is 122% above 2025, but it covers only part of the year and 43 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
2005	¥23.0M	¥85.0M
2006	¥21.0M	¥76.0M
2007	¥23.0M	¥120M
2008	¥22.5M	¥77.0M
2009	¥20.0M	¥63.0M
2010	¥23.0M	¥64.0M
2011	¥20.0M	¥67.0M
2012	¥21.0M	¥70.0M
2013	¥22.0M	¥64.0M
2014	¥23.0M	¥72.0M
2015	¥23.0M	¥83.0M
2016	¥24.0M	¥85.0M
2017	¥26.0M	¥110M
2018	¥28.0M	¥95.0M
2019	¥28.0M	¥93.0M
2020	¥31.0M	¥85.5M
2021	¥32.0M	¥88.0M
2022	¥33.0M	¥120M
2023	¥34.0M	¥115M
2024	¥39.0M	¥130M
2025	¥43.0M	¥180M
2026 (partial)	¥43.0M	¥400M

Median price per m² by yearHouses are the better deal on space — A m² of house floor space costs about 24% 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.

Show data table

Year	Condo	House	Land
2005	¥655k/m²	¥521k/m²	¥720k/m²
2006	¥662k/m²	¥556k/m²	¥700k/m²
2007	¥730k/m²	¥654k/m²	¥740k/m²
2008	¥750k/m²	¥622k/m²	¥730k/m²
2009	¥675k/m²	¥508k/m²	¥580k/m²
2010	¥743k/m²	¥533k/m²	¥620k/m²
2011	¥733k/m²	¥552k/m²	¥610k/m²
2012	¥700k/m²	¥548k/m²	¥610k/m²
2013	¥708k/m²	¥553k/m²	¥620k/m²
2014	¥800k/m²	¥571k/m²	¥630k/m²
2015	¥882k/m²	¥630k/m²	¥690k/m²
2016	¥909k/m²	¥659k/m²	¥760k/m²
2017	¥950k/m²	¥674k/m²	¥830k/m²
2018	¥1.0M/m²	¥747k/m²	¥850k/m²
2019	¥1.1M/m²	¥725k/m²	¥760k/m²
2020	¥1.1M/m²	¥772k/m²	¥910k/m²
2021	¥1.1M/m²	¥834k/m²	¥995k/m²
2022	¥1.2M/m²	¥800k/m²	¥970k/m²
2023	¥1.2M/m²	¥911k/m²	¥1.1M/m²
2024	¥1.3M/m²	¥1.0M/m²	¥1.1M/m²
2025	¥1.4M/m²	¥1.1M/m²	¥1.3M/m²
2026 (partial)	¥1.5M/m²	¥1.4M/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 26 years old and half by around 50. Prices keep falling by roughly 1.8% 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 18 years — House prices per m² drop about 25% from new by age 18, 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	¥1.6M/m²	¥1.1M/m²
1	¥2.0M/m²	¥1.3M/m²
2	¥1.7M/m²	¥1.1M/m²
3	¥1.5M/m²	–
4	¥1.5M/m²	¥1.1M/m²
5	¥1.5M/m²	–
6	¥1.5M/m²	¥1.1M/m²
7	¥1.5M/m²	¥913k/m²
8	¥1.4M/m²	¥954k/m²
9	¥1.4M/m²	¥878k/m²
10	¥1.4M/m²	–
11	¥1.4M/m²	–
12	¥1.4M/m²	¥959k/m²
13	¥1.3M/m²	¥955k/m²
14	¥1.3M/m²	¥1.1M/m²
15	¥1.3M/m²	–
16	¥1.3M/m²	–
17	¥1.3M/m²	–
18	¥1.3M/m²	¥838k/m²
19	¥1.3M/m²	¥835k/m²
20	¥1.3M/m²	–
21	¥1.2M/m²	–
22	¥1.2M/m²	–
23	¥1.2M/m²	¥824k/m²
24	¥1.2M/m²	–
25	¥1.2M/m²	–
26	¥1.1M/m²	–
27	¥1.1M/m²	¥849k/m²
28	¥1.1M/m²	¥848k/m²
29	¥1.0M/m²	–
30	¥1.2M/m²	¥1.1M/m²
31	¥1.1M/m²	¥786k/m²
32	¥1.0M/m²	¥746k/m²
33	¥850k/m²	¥626k/m²
34	¥929k/m²	¥800k/m²
35	¥933k/m²	¥840k/m²
36	¥867k/m²	¥750k/m²
37	¥850k/m²	–
38	¥876k/m²	–
39	¥933k/m²	¥694k/m²
40	¥950k/m²	¥500k/m²
41	¥914k/m²	¥934k/m²
42	¥800k/m²	¥643k/m²
43	¥867k/m²	¥643k/m²
44	¥878k/m²	¥692k/m²
45	¥852k/m²	¥786k/m²
46	¥950k/m²	¥788k/m²
47	¥920k/m²	¥690k/m²
48	¥775k/m²	–
49	¥620k/m²	¥728k/m²
50	¥750k/m²	¥776k/m²

Condo price per m² by construction periodOlder buildings are keeping up — Older pre-1981 buildings have actually risen faster (5.3% a year) than 2000s buildings (3.5%), usually a sign that land value is driving prices. Pre-1981 buildings, built before the current earthquake standard, trade about 20% 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
2005	¥415k/m²	¥565k/m²	¥1.0M/m²	–
2006	¥467k/m²	¥600k/m²	¥920k/m²	–
2007	¥507k/m²	¥667k/m²	¥1.0M/m²	–
2008	¥545k/m²	¥700k/m²	¥963k/m²	–
2009	¥463k/m²	¥615k/m²	¥900k/m²	–
2010	¥487k/m²	¥625k/m²	¥954k/m²	–
2011	¥478k/m²	¥600k/m²	¥854k/m²	–
2012	¥440k/m²	¥587k/m²	¥850k/m²	¥1.0M/m²
2013	¥467k/m²	¥640k/m²	¥867k/m²	¥1.1M/m²
2014	¥530k/m²	¥650k/m²	¥900k/m²	¥1.0M/m²
2015	¥540k/m²	¥716k/m²	¥1.0M/m²	¥1.2M/m²
2016	¥600k/m²	¥800k/m²	¥1.0M/m²	¥1.2M/m²
2017	¥650k/m²	¥833k/m²	¥1.0M/m²	¥1.2M/m²
2018	¥690k/m²	¥800k/m²	¥1.1M/m²	¥1.2M/m²
2019	¥691k/m²	¥840k/m²	¥1.1M/m²	¥1.2M/m²
2020	¥733k/m²	¥937k/m²	¥1.1M/m²	¥1.3M/m²
2021	¥700k/m²	¥933k/m²	¥1.2M/m²	¥1.3M/m²
2022	¥781k/m²	¥1.0M/m²	¥1.2M/m²	¥1.4M/m²
2023	¥862k/m²	¥1.0M/m²	¥1.3M/m²	¥1.4M/m²
2024	¥862k/m²	¥1.1M/m²	¥1.3M/m²	¥1.6M/m²
2025	¥933k/m²	¥1.2M/m²	¥1.4M/m²	¥1.6M/m²
2026 (partial)	–	¥1.2M/m²	¥1.5M/m²	¥1.9M/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
2005	¥460k/m²	¥480k/m²	¥653k/m²	–
2006	¥347k/m²	¥516k/m²	¥703k/m²	–
2007	–	¥574k/m²	¥773k/m²	–
2008	–	¥545k/m²	¥670k/m²	–
2009	¥394k/m²	¥421k/m²	¥646k/m²	–
2010	¥356k/m²	¥461k/m²	¥608k/m²	–
2011	¥369k/m²	¥479k/m²	¥627k/m²	¥688k/m²
2012	¥484k/m²	¥441k/m²	–	¥674k/m²
2013	¥462k/m²	¥494k/m²	–	¥631k/m²
2014	¥370k/m²	¥485k/m²	¥651k/m²	¥691k/m²
2015	¥533k/m²	¥511k/m²	–	¥730k/m²
2016	¥500k/m²	¥595k/m²	–	¥815k/m²
2017	¥485k/m²	¥612k/m²	¥741k/m²	¥909k/m²
2018	¥674k/m²	¥624k/m²	–	¥937k/m²
2019	¥541k/m²	¥667k/m²	–	¥879k/m²
2020	¥586k/m²	¥660k/m²	–	¥900k/m²
2021	¥622k/m²	¥694k/m²	¥847k/m²	¥893k/m²
2022	¥651k/m²	¥702k/m²	¥800k/m²	–
2023	¥737k/m²	¥700k/m²	–	¥1.1M/m²
2024	¥788k/m²	¥1.0M/m²	¥775k/m²	–
2025	¥842k/m²	¥1.0M/m²	–	¥1.1M/m²

Prices near train stations in Shinjuku 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)
Waseda(TokyoMetro) (早稲田(メトロ))	¥33.0M	¥1.3M/m²	¥165M	6	192	79,193-6% vs 2019
Shinjuku Gyoemmae (新宿御苑前)	¥48.0M	¥1.4M/m²	–	6	185	47,369-14% vs 2019
Okubo(Tokyo) (大久保(東京))	¥33.5M	¥1.2M/m²	¥150M	5	179	48,622-14% vs 2019
Higashi Shinjuku (東新宿)	¥35.0M	¥1.3M/m²	¥96.0M	4	170	75,455-12% vs 2019
Takadanobaba (高田馬場)	¥34.0M	¥1.2M/m²	¥140M	7	162	783,543-15% vs 2019
Shimo Ochiai(Tokyo) (下落合(東京))	¥34.5M	¥1.1M/m²	¥115M	4	152	11,361-9% vs 2019
Ushigome Yanagicho (牛込柳町)	¥43.0M	¥1.4M/m²	¥89.0M	4	146	19,728-7% vs 2019
Nishi Shinjuku Gochome (西新宿五丁目)	¥36.0M	¥1.4M/m²	–	4	139	31,076-14% vs 2019
Kagurazaka (神楽坂)	¥59.0M	¥1.5M/m²	¥240M	5	138	38,583-9% vs 2019
Ochiai Minami Nagasaki (落合南長崎)	¥27.0M	¥1.1M/m²	¥89.0M	6	130	25,931-8% vs 2019
Edogawabashi (江戸川橋)	¥42.0M	¥1.4M/m²	¥315M	4	127	48,975-9% vs 2019
Akebonobashi (曙橋)	¥44.0M	¥1.3M/m²	¥190M	4	127	35,291-10% vs 2019
Yotsuya Sanchome (四谷三丁目)	¥70.0M	¥1.8M/m²	¥190M	4	126	41,217-12% vs 2019
Wakamatsu Kawada (若松河田)	¥40.5M	¥1.4M/m²	¥120M	4	119	27,802-14% vs 2019
Nishi Shinjuku (西新宿)	¥44.0M	¥1.4M/m²	–	6	101	77,992-15% vs 2019

Used condo prices by layout in Shinjuku Ward

Sales from 2023–2025.

Layout	Median used condo price	Typical size	Sales
1K	¥26.0M	20 m²	1041
2LDK	¥84.0M	55 m²	380
1LDK	¥52.5M	40 m²	338
3LDK	¥100M	70 m²	273
1DK	¥41.0M	30 m²	151
2DK	¥35.0M	40 m²	69
1R	¥15.0M	15 m²	53
Open floor	¥33.5M	32.5 m²	28

How much does an apartment cost in Shinjuku Ward?

The median used condo (mansion) in Shinjuku Ward sold for ¥43.0M in 2025, about ¥1.4M/m², based on 873 recorded sales.

How much does a house cost in Shinjuku Ward?

The median house sale, including the land, was ¥180M in 2025 across 199 sales.

Are property prices in Shinjuku Ward going up?

Over the five years to 2025, condo prices per m² changed +27.3% and residential land prices changed +42.9%.

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.