Seoul’s housing costs are rising for renters, particularly those seeking small studio units. Dabang’s analysis of the Ministry of Land, Infrastructure and Transport’s actual transaction price disclosure system found that the average September monthly rent for studios of 33 square meters or less in low-rise multi-unit housing reached 710,000 Korean won, based on a 10 million won deposit. The figure increased 35,000 won, or 5.2%, from August, while the average jeonse deposit fell 2.37 million won, or 1.1%, to 219.91 million won. Gangnam had the highest studio rent at 970,000 won, compared with 480,000 won in Dobong, while Gangnam also recorded the highest average jeonse deposit at 287.08 million won. Seoul’s one-person households rose 22.2% over five years to 1,699,910 last year, and 7.53% of existing apartment jeonse contracts renewed as monthly-rent leases from January through September, up from 6.25% a year earlier. Monthly rent accounted for 51.0% of Seoul apartment lease transactions during the period, the first time exceeding half. The average Seoul apartment monthly rent reached 1.661 million won in September, up 218,000 won from a year earlier. Separately, Seoul apartment transaction prices rose 15.50% year on year in August, the strongest annual increase since November 2021, while apartment jeonse transaction prices gained 11.31% year on year.