Japan House Price to Income and Rent Ratios
Quarterly analytical house price indicators for Japan computed by the OECD: nominal and real house price indices (base 2015 = 100), the rent component of consumer prices, the price-to-income ratio that compares house prices with household disposable income per head, and the price-to-rent ratio that compares buying with renting.
| Indicator | Q2-2026 | Q1-2026 | Q4-2025 | Q3-2025 | Q2-2025 | Q1-2025 | Q4-2024 | Q3-2024 | Q2-2024 | Q1-2024 | Q4-2023 | Q3-2023 | Q2-2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Nominal house price index | 140.31 | 138.47 | 136.63 | 136.6 | 133.56 | 132.72 | 131.78 | 130.53 | 129.9 | 128.57 | 128.24 | |||
| Real house price index | 119.1 | 118.17 | 117.17 | 117.74 | 116.36 | 116.45 | 116.47 | 116.2 | 115.94 | 115.54 | 116.42 | |||
| Rent price index | 100.76 | 100.64 | 100.45 | 100.27 | 100.16 | 99.97 | 99.89 | 99.77 | 99.66 | 99.54 | 99.45 | 99.4 | 99.36 | |
| Affordability ratios2 | ||||||||||||||
| Price-to-income ratio | 114.08 | 114.16 | 114.05 | 114.31 | 112.56 | 112.15 | 114.02 | 116.76 | 117.99 | 115.47 | 114.22 | |||
| Price-to-rent ratio | 139.67 | 138.09 | 136.41 | 136.64 | 133.71 | 133.02 | 132.23 | 131.14 | 130.61 | 129.35 | 129.06 | |||
| Standardised ratios, long-term average = 1002 | ||||||||||||||
| Standardised price-to-income ratio | 87.61 | 87.67 | 87.58 | 87.78 | 86.44 | 86.13 | 87.56 | 89.66 | 90.61 | 88.67 | 87.71 | |||
| Standardised price-to-rent ratio | 109.41 | 108.18 | 106.86 | 107.04 | 104.75 | 104.21 | 103.59 | 102.73 | 102.32 | 101.33 | 101.1 |
Latest reading
Real house price index stood at 119.1 in Q4 2025. That is +0.8% from Q3 2025 and +2.4% from a year earlier. The series on this page is quarterly and runs from Q1 1970 to Q4 2025. Source: OECD – Analytical house prices indicators.
- Latest
- 119.1
- Q4 2025
- vs previous period
- +0.8%
- Q3 2025
- vs a year earlier
- +2.4%
About this data
Quarterly analytical house price indicators for Japan computed by the OECD: nominal and real house price indices (base 2015 = 100), the rent component of consumer prices, the price-to-income ratio that compares house prices with household disposable income per head, and the price-to-rent ratio that compares buying with renting. Each ratio is also given in standardised form where the long-term average of the series equals 100, which is the reading the OECD uses to say whether housing is dear or cheap by its own history rather than in absolute terms.
