"Tuition Is Hard Enough": Seoul Students Now Pay 700,000 Won a Month for Housing, a Record High

Average Studio Rent Near Major Seoul Universities Tops 620,000 Won
Maintenance Costs Also Rise...Average Reaches 82,000 Won

As the overall upward trend in monthly rents continues, the average monthly rent for studio apartments near major universities in Seoul has exceeded 620,000 won.

A flyer about boarding is posted on a community bulletin board near Chung-Ang University in Dongjak District, Seoul. Reporter Kang Jinhyeong

On February 24, real estate information platform Dabang analyzed studio rents near 10 major universities in Seoul as of last month and found that the average monthly rent was 622,000 won (with a 10 million won deposit and an exclusive area of 33 square meters or less). This represents a 2.0% increase from the same month last year (609,000 won) and is the highest level since Dabang began this survey in 2019.

By university area, the neighborhood around Sungkyunkwan University saw the largest increase. The average monthly rent there was 738,000 won, up 18.1% from the same period last year (625,000 won). This was followed by the areas around Hanyang University (up 11.3%), Korea University (up 9.8%), Yonsei University (up 6.2%), and Seoul National University (up 1.9%), all of which also recorded increases.

In contrast, some areas saw declines, including the neighborhoods around Chung-Ang University (469,000 won, down 11.0%), Sogang University (599,000 won, down 6.7%), Hankuk University of Foreign Studies (599,000 won, down 5.1%), and Ewha Womans University (711,000 won, down 4.0%).

The burden of maintenance fees has also grown. The average maintenance fee for studio apartments near major universities in Seoul was 82,000 won, up 5.1% from last year. Around Chung-Ang University, the maintenance fee rose from 84,000 won to 102,000 won, a 21.4% increase, marking the steepest rise. Maintenance fees also increased around Sungkyunkwan University (up 13.6%), Hankuk University of Foreign Studies (up 9.0%), Kyung Hee University (up 6.4%), Korea University (up 6.3%), Hanyang University (up 5.5%), Seoul National University (up 4.7%), and Yonsei University (up 3.9%).

Meanwhile, the areas around Sogang University and Ewha Womans University saw maintenance fees fall by 18.3% and 2.9%, respectively.

A Dabang official explained, "After a temporary adjustment in July last year, monthly rents in university districts are once again on an upward trajectory," adding, "It appears that the overall strength in monthly rents has also affected the rental market in university areas."