Average monthly rent for studio apartments in 10 major Seoul college areas is 625,000 KRW with a 10 million KRW deposit
Up 7.7% compared to the same period a year ago
Monthly rent near Seoul National University surged 26% from 423,000 KRW to 533,000 KRW
Homeownership rate for youth households dropped from 14.6% to 12.2%
Monthly rent prices around college areas are rising steeply. According to data compiled by the real estate platform Dabang, the average monthly rent for a studio apartment near 10 major universities in Seoul in July 2026 stood at 625,000 KRW with a deposit of 10 million KRW, marking a 7.7% increase from the same period a year earlier.
Regional disparities have also widened. Monthly rent near Seoul National University jumped 26% from 423,000 KRW to 533,000 KRW over the past year, while rent near Hankuk University of Foreign Studies rose 15.1% to 670,000 KRW. Due to soaring rents, an increasing number of students are moving into gosiwons or dormitories, while office workers flock to relatively cheaper college areas, creating a repetitive cycle that drives up market prices again.
The burden of housing costs is also confirmed by statistics. In the Ministry of Land, Infrastructure and Transport's 2024 Korea Housing Survey, the homeownership rate among youth households fell from 14.6% to 12.2%. Park Won-gap, Senior Real Estate Specialist Advisor at KB Kookmin Bank, pointed out that housing cost support, such as the expansion of public rental housing, is necessary.
The structure where young people's wallets take the first hit every time rent rises remains unchanged. Without stable housing cost measures for college areas, young people will continue to shoulder the heavy burden of 'rent tuition' coming right after university tuition.