Cost of Living in Seoul – How Much Does Rent Cost?
I have lived in Seoul for over 35 years and have recently noticed more and more foreigners choosing to reside in the city. Whether for a short-term stay, studying abroad, work, or immigration, many foreigners wonder about the cost of rent in Seoul.
Rent prices in Seoul vary significantly depending on location, housing type, and lease terms. Based on 2024 data and my personal experience, I have compiled a guide to different housing options and costs in the city.
1. Housing Options for Foreigners in Seoul
Seoul offers a variety of housing options to suit different budgets and lifestyles.
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Studio Apartment (원룸, One-room): A compact living space ideal for students or single residents, typically ranging from 15–30㎡ with a small kitchen and bathroom.
(원룸 외관
- *Exterior of a typical one-room apartment building.*)
- (원룸 내부, 작고 아담한 공간입니다
*Inside a one-room apartment—small and cozy.*) -
Officetel (오피스텔, Modern Studio Apartment): A popular option for young professionals, often equipped with built-in furniture, kitchen facilities, and a washing machine.
(오피스텔 외관
- *Modern officetel building in Seoul.*)
- (오피스텔 내부, 살림에 필요한 비품이 구비되어 있어요
- *Officetel interior, fully equipped for daily living.*)
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Shared Housing (쉐어하우스, Share House): A cost-effective option for long-term foreign residents, with shared kitchen and living areas.
(쉐어하우스 외관
- *Exterior of a shared house.*)
(쉐어하우스는 개인룸과 공동공간으로 되어 있어요*Shared houses have private rooms and common areas.*)-
Apartments (아파트, Traditional Apartments): Suitable for families or long-term expats planning to settle in Korea.
(아파트 외관
- *Exterior view of a typical Korean apartment.*)
(아파트 내부, 살아보면 아파트는 참 편리한 공간입니다*Once you live in one, you’ll see how convenient Korean apartments really are.*)
2. Rent Prices in Central vs. Outer Seoul
Studio Apartments (One-room, 원룸)
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Central Seoul (Gangnam, Itaewon, Hongdae, etc.): $530–$1,130 (₩700,000–₩1,500,000) / month
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Outer Seoul (Suyu, Sillim, Guro, etc.): $300–$600 (₩400,000–₩800,000) / month
Officetels (Modern Studio Apartments, 오피스텔)
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Central Seoul: $900–$1,900 (₩1,200,000–₩2,500,000) / month
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Outer Seoul: $600–$1,130 (₩800,000–₩1,500,000) / month
Shared Housing (Share House, Guesthouse)
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Across Seoul: $225–$530 (₩300,000–₩700,000) / month
(각 주거형태별로 비용을 간략하게 나타낸 표
- *A quick summary chart comparing rent by housing type.*)
3. Rent Differences Based on Location and Deposit System
(서울 중심부와 외곽을 알 수 있는 지도
*Map showing central and outer areas of Seoul.*)
1. Location-Based Price Differences
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Expensive Areas: Gangnam, Itaewon, Hongdae, Jongno, Myeongdong
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More Affordable Areas: Sillim, Guro, Nowon, Greater Seoul (Ilsan, Suwon, Gwangmyeong, Seongnam, etc.)
2. Korea’s Unique Deposit System (Jeonse vs. Monthly Rent)
Korea has a unique deposit-based rental system that may be unfamiliar to many foreigners.
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Jeonse (Key Money Lease): A large deposit is paid upfront, eliminating the need for monthly rent. Only maintenance fees and utilities are paid ($38,000–$225,000 (₩50M–₩300M)). The deposit is returned at the end of the lease.
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Wolse (Monthly Rent): A lower deposit ($3,800–$15,000 (₩5M–₩20M)) is paid along with a monthly rent payment.
3. Additional Costs
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Utilities (Electricity, Gas, Water, Internet): $75–$150 (₩100,000–₩200,000) / month
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Maintenance Fees: Most officetels and apartments charge monthly maintenance fees.
4. How to Find Affordable Rent in Seoul
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Use Korean real estate apps like Zigbang (직방) and Dabang (다방) to compare prices.
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Consider living outside central Seoul to save on rent.
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Explore short-term rental options for students or digital nomads.
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Check foreigner communities on Facebook or Reddit for shared housing opportunities.
(직방을 통해 집을 구하면 쉽고 안전한 계약이 가능해요
- *Apps like Zigbang make it easy and safe to find housing.*)
Work with a Real Estate Agent
Like in any other major city, rent in Seoul can be expensive. If you are living alone, a studio or officetel is a great option, while families may prefer apartments.
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Once you decide on your preferred area, working with a real estate agent is the safest way to secure a rental contract. This ensures that your deposit is properly handled and helps prevent any contractual issues.
If you have any questions about finding housing in Seoul, leave a comment below!
Hope this video gives you a better sense of what Korea is like today.
유튜브를 통해서 더 자세한 내용을 알아보세요
*Watch the YouTube video for more in-depth information.*
