Okayama Housing Market 2025: Steady Prices, Serious Flood Exposure
Data updated 2026-11-10 · Source: MLIT transaction price survey, 2005 Q3–2026 Q2
Key figures for 2025
- Median used condo price
- ¥21.0M
- ¥293k/m² · +2.7% vs 2024
- Median house price (land + building)
- ¥17.0M
- +0.2% vs 2024
- Residential land per m² (sales)
- ¥39k/m²
- +14.7% over 5 years
- Transactions in 2025
- 3,101
- #17 of 47 areas in Japan by price per m²
A stable regional hub
Okayama's condo prices per m² have grown a steady 3% a year for a decade. Okayama City's Kita Ward, around the station, is up about 19% in five years and is a government renewal zone; Kurashiki has barely moved. On the government's fixed benchmark sites, residential land has risen only about 3% in five years, while commercial land rose about 9%.
Population loss
Okayama's population fell 4.2% between 2020 and 2025, and about 5,600 more people left than arrived in 2025. 8.7% of homes are abandoned.
"Safe from disasters"? Not from floods
Okayama is often promoted as a prefecture with few natural disasters, and its earthquake risk is moderate (about 34% chance of 6-lower shaking in 30 years). But it has some of Japan's highest flood exposure: about 69% of benchmark sites are in a worst-case flood zone and 31% face 3 m or deeper flooding, second only to Gifu. The 2018 floods that devastated Kurashiki's Mabi district followed exactly these hazard maps. About 14% of sites are also in tsunami inundation zones along the Seto Inland Sea coast.
Condos lose value early
Okayama condos lose about a quarter of their per-m² value by 13 years old and half by 26. A median condo costs about 35 years of the local median rent.
Living in Okayama: people, homes and risks
- Population 2025
- 1,808,664
- -4.2% since 2020
- Japan: -2.5%
- Net moves in 2025
- -5,594
- -3.09 per 1,000 residents
- Vacant homes (2023)
- 16.4%
- 8.6% empty and not for rent or sale
- Japan: 13.8%
- Median rent (2023)
- ¥50k
- per month, all rented homes
- Japan: ¥57k
- Strong earthquake risk
- 33.5%
- chance of shaking of intensity 6-lower or more within 30 years
- Japan: 38.4%
- Official land price 2026
- ¥37k/m²
- +0.9% in a year · +2.9% in 5 years
- Japan: ¥74k/m²
- Flood exposure
- 69.1%
- of 379 benchmark sites in a worst-case flood zone (30.9% 3 m or deeper)
- Japan: 42.6%
- Tsunami exposure
- 13.7%
- of 379 benchmark sites in a tsunami inundation zone
- Japan: 7.8%
- Landslide exposure
- 5.8%
- of 379 benchmark sites in a landslide warning area
- Japan: 2.6%
Urban renewal zones
Areas designated by the national government for priority redevelopment, with relaxed planning rules and financial support for large projects.
- Okayama Station and Omotecho · 113 ha · designated 2003
Check flood, landslide and tsunami zones for a specific address on the government hazard map ↗
Sources: 2025 Census (preliminary), 2025 Internal Migration Report, 2023 Housing and Land Survey (Statistics Bureau of Japan); J-SHIS seismic hazard model (NIED, 2024); Land Price Publication (MLIT). Earthquake probability is measured at the municipal center.
Example sales in Okayama
Real transactions from the last four quarters, picked near the lower (20th percentile), middle and upper (80th percentile) price points. Locations are shown at district level, as published by MLIT.
Condo
¥10.0M
¥154k/m²
- Daiku, Kita Ward, Okayama City
- Okayama · 18 min walk
- 2LDK · 65 m²
- Built 1986 (39 yrs) · SRC
¥23.0M
¥354k/m²
- Higashifurumatsu, Kita Ward, Okayama City
- Omoto(Okayama) · 10 min walk
- 3LDK · 65 m²
- Built 2004 (22 yrs) · RC
¥33.0M
¥413k/m²
- Inarimachi, Kurashiki City
- Kurashiki · 13 min walk
- 3LDK · 80 m²
- Built 2022 (4 yrs) · SRC
House
¥5.3M
¥27k/m²
- Hikami, Tsuyama City
- Higashi Tsuyama · 23 min walk
- Land 650 m² · floor 195 m²
- Built 1977 (49 yrs) · Wood
¥19.0M
¥86k/m²
- Takao, Niimi City
- Niimi · 9 min walk
- Land 820 m² · floor 220 m²
- Built 1979 (47 yrs) · Steel
¥38.0M
¥281k/m²
- Hosen, Minami Ward, Okayama City
- Bizen Nishiichi
- Land 120 m² · floor 135 m²
- Built 2026 (0 yrs) · Wood
Show data table
| Year | Condo | House |
|---|---|---|
| 2007 | ¥12.0M | ¥17.0M |
| 2008 | ¥14.0M | ¥16.0M |
| 2009 | ¥12.0M | ¥15.0M |
| 2010 | ¥12.5M | ¥16.0M |
| 2011 | ¥11.0M | ¥16.0M |
| 2012 | ¥13.0M | ¥16.0M |
| 2013 | ¥14.0M | ¥16.0M |
| 2014 | ¥14.0M | ¥16.0M |
| 2015 | ¥15.0M | ¥18.0M |
| 2016 | ¥14.0M | ¥17.0M |
| 2017 | ¥15.0M | ¥18.0M |
| 2018 | ¥17.0M | ¥17.0M |
| 2019 | ¥17.0M | ¥17.0M |
| 2020 | ¥19.0M | ¥18.0M |
| 2021 | ¥17.0M | ¥20.0M |
| 2022 | ¥19.0M | ¥17.0M |
| 2023 | ¥21.5M | ¥18.0M |
| 2024 | ¥20.0M | ¥17.0M |
| 2025 | ¥21.0M | ¥17.0M |
| 2026 (partial) | ¥23.0M | ¥20.0M |
Show data table
| Year | Condo | House | Land |
|---|---|---|---|
| 2007 | ¥178k/m² | ¥125k/m² | ¥36k/m² |
| 2008 | ¥200k/m² | ¥124k/m² | ¥35k/m² |
| 2009 | ¥184k/m² | ¥116k/m² | ¥34k/m² |
| 2010 | ¥175k/m² | ¥117k/m² | ¥36k/m² |
| 2011 | ¥169k/m² | ¥115k/m² | ¥30k/m² |
| 2012 | ¥183k/m² | ¥112k/m² | ¥32k/m² |
| 2013 | ¥200k/m² | ¥113k/m² | ¥31k/m² |
| 2014 | ¥200k/m² | ¥118k/m² | ¥30k/m² |
| 2015 | ¥215k/m² | ¥124k/m² | ¥32k/m² |
| 2016 | ¥200k/m² | ¥122k/m² | ¥31k/m² |
| 2017 | ¥213k/m² | ¥129k/m² | ¥32k/m² |
| 2018 | ¥250k/m² | ¥132k/m² | ¥30k/m² |
| 2019 | ¥246k/m² | ¥126k/m² | ¥33k/m² |
| 2020 | ¥254k/m² | ¥130k/m² | ¥34k/m² |
| 2021 | ¥246k/m² | ¥152k/m² | ¥33k/m² |
| 2022 | ¥274k/m² | ¥133k/m² | ¥34k/m² |
| 2023 | ¥297k/m² | ¥133k/m² | ¥34k/m² |
| 2024 | ¥286k/m² | ¥128k/m² | ¥35k/m² |
| 2025 | ¥293k/m² | ¥128k/m² | ¥39k/m² |
| 2026 (partial) | ¥325k/m² | ¥130k/m² | ¥40k/m² |
Show data table
| Building age (years) | Condo | House |
|---|---|---|
| 0 | – | ¥313k/m² |
| 1 | ¥493k/m² | ¥305k/m² |
| 2 | ¥538k/m² | ¥327k/m² |
| 3 | ¥471k/m² | ¥295k/m² |
| 4 | ¥513k/m² | ¥250k/m² |
| 5 | ¥477k/m² | ¥270k/m² |
| 6 | ¥414k/m² | ¥250k/m² |
| 7 | ¥446k/m² | ¥256k/m² |
| 8 | ¥414k/m² | ¥261k/m² |
| 9 | ¥413k/m² | ¥252k/m² |
| 10 | ¥400k/m² | ¥222k/m² |
| 11 | ¥376k/m² | ¥216k/m² |
| 12 | ¥378k/m² | ¥208k/m² |
| 13 | ¥351k/m² | ¥208k/m² |
| 14 | ¥368k/m² | ¥185k/m² |
| 15 | ¥347k/m² | ¥191k/m² |
| 16 | ¥337k/m² | ¥185k/m² |
| 17 | ¥338k/m² | ¥171k/m² |
| 18 | ¥340k/m² | ¥157k/m² |
| 19 | ¥360k/m² | ¥164k/m² |
| 20 | ¥347k/m² | ¥153k/m² |
| 21 | ¥320k/m² | ¥138k/m² |
| 22 | ¥279k/m² | ¥121k/m² |
| 23 | ¥282k/m² | ¥117k/m² |
| 24 | ¥286k/m² | ¥111k/m² |
| 25 | ¥264k/m² | ¥100k/m² |
| 26 | ¥214k/m² | ¥136k/m² |
| 27 | ¥229k/m² | ¥110k/m² |
| 28 | ¥215k/m² | ¥98k/m² |
| 29 | ¥214k/m² | ¥84k/m² |
| 30 | ¥178k/m² | ¥113k/m² |
| 31 | ¥171k/m² | ¥88k/m² |
| 32 | ¥190k/m² | ¥84k/m² |
| 33 | ¥190k/m² | ¥100k/m² |
| 34 | ¥172k/m² | ¥96k/m² |
| 35 | ¥150k/m² | ¥86k/m² |
| 36 | ¥161k/m² | ¥96k/m² |
| 37 | – | ¥91k/m² |
| 38 | – | ¥65k/m² |
| 39 | – | ¥62k/m² |
| 40 | – | ¥68k/m² |
| 41 | – | ¥76k/m² |
| 42 | – | ¥86k/m² |
| 43 | – | ¥94k/m² |
| 44 | – | ¥63k/m² |
| 45 | – | ¥67k/m² |
| 46 | – | ¥69k/m² |
| 47 | – | ¥59k/m² |
| 48 | ¥100k/m² | ¥60k/m² |
| 49 | – | ¥58k/m² |
| 50 | ¥70k/m² | ¥45k/m² |
Each line follows buildings from one construction period over time. 1981 is when Japan's current earthquake-resistance standard (shin-taishin) took effect.
Show data table
| Year | 1981-2000 | 2001-2010 | 2011-2020 |
|---|---|---|---|
| 2007 | ¥173k/m² | – | – |
| 2008 | ¥168k/m² | ¥292k/m² | – |
| 2009 | ¥160k/m² | ¥263k/m² | – |
| 2010 | ¥162k/m² | ¥286k/m² | – |
| 2011 | ¥157k/m² | ¥283k/m² | – |
| 2012 | ¥153k/m² | ¥272k/m² | – |
| 2013 | ¥153k/m² | ¥269k/m² | – |
| 2014 | ¥161k/m² | ¥293k/m² | – |
| 2015 | ¥171k/m² | ¥286k/m² | ¥365k/m² |
| 2016 | ¥171k/m² | ¥303k/m² | ¥344k/m² |
| 2017 | ¥171k/m² | ¥300k/m² | ¥366k/m² |
| 2018 | ¥183k/m² | ¥311k/m² | ¥355k/m² |
| 2019 | ¥173k/m² | ¥320k/m² | ¥386k/m² |
| 2020 | ¥200k/m² | ¥333k/m² | ¥387k/m² |
| 2021 | ¥185k/m² | ¥326k/m² | ¥420k/m² |
| 2022 | ¥190k/m² | ¥343k/m² | ¥413k/m² |
| 2023 | ¥213k/m² | ¥328k/m² | ¥446k/m² |
| 2024 | ¥200k/m² | ¥341k/m² | ¥431k/m² |
| 2025 | ¥200k/m² | ¥369k/m² | ¥439k/m² |
Each line follows buildings from one construction period over time. 1981 is when Japan's current earthquake-resistance standard (shin-taishin) took effect.
Show data table
| Year | 1971-1980 | 1981-2000 | 2001-2010 | 2011-2020 |
|---|---|---|---|---|
| 2007 | ¥90k/m² | ¥129k/m² | ¥261k/m² | – |
| 2008 | ¥92k/m² | ¥120k/m² | ¥259k/m² | – |
| 2009 | ¥85k/m² | ¥106k/m² | ¥250k/m² | – |
| 2010 | ¥81k/m² | ¥109k/m² | ¥235k/m² | ¥261k/m² |
| 2011 | ¥81k/m² | ¥110k/m² | ¥219k/m² | ¥264k/m² |
| 2012 | ¥72k/m² | ¥104k/m² | ¥190k/m² | ¥277k/m² |
| 2013 | ¥83k/m² | ¥108k/m² | ¥153k/m² | ¥284k/m² |
| 2014 | ¥84k/m² | ¥104k/m² | ¥178k/m² | ¥287k/m² |
| 2015 | ¥67k/m² | ¥106k/m² | ¥162k/m² | ¥280k/m² |
| 2016 | ¥74k/m² | ¥99k/m² | ¥168k/m² | ¥270k/m² |
| 2017 | ¥68k/m² | ¥100k/m² | ¥176k/m² | ¥267k/m² |
| 2018 | ¥66k/m² | ¥92k/m² | ¥158k/m² | ¥287k/m² |
| 2019 | ¥61k/m² | ¥89k/m² | ¥164k/m² | ¥291k/m² |
| 2020 | ¥62k/m² | ¥100k/m² | ¥172k/m² | ¥274k/m² |
| 2021 | ¥69k/m² | ¥104k/m² | ¥187k/m² | ¥264k/m² |
| 2022 | ¥72k/m² | ¥85k/m² | ¥168k/m² | ¥261k/m² |
| 2023 | ¥67k/m² | ¥96k/m² | ¥164k/m² | ¥251k/m² |
| 2024 | ¥54k/m² | ¥96k/m² | ¥151k/m² | ¥246k/m² |
| 2025 | ¥55k/m² | ¥91k/m² | ¥157k/m² | ¥239k/m² |
| 2026 (partial) | ¥47k/m² | ¥100k/m² | ¥164k/m² | ¥260k/m² |
Prices by area in Okayama
Median prices for 2025. Sorted by condo price per m² (or house price per m² where there are few condo sales).
| Area | Condo price per m² | Median used condo price | Median house price (land + building) | Residential land per m² (sales) | Condo 5-yr change |
|---|---|---|---|---|---|
| Kita Ward, Okayama City | ¥338k/m² | ¥24.0M | ¥24.0M | ¥88k/m² | +19.2% |
| Kurashiki City | ¥260k/m² | ¥18.0M | ¥21.0M | ¥48k/m² | +5.9% |
| Naka Ward, Okayama City | – | – | ¥24.0M | ¥64k/m² | – |
| Minami Ward, Okayama City | – | – | ¥26.0M | ¥66k/m² | – |
| Soja City | – | – | ¥20.0M | ¥42k/m² | – |
| Higashi Ward, Okayama City | – | – | ¥16.5M | ¥52k/m² | – |
| Asakuchi City | – | – | ¥9.1M | ¥22k/m² | – |
| Akaiwa City | – | – | ¥11.0M | ¥12k/m² | – |
| Tsuyama City | – | – | ¥9.6M | ¥31k/m² | – |
| Kasaoka City | – | – | ¥11.0M | ¥15k/m² | – |
| Setouchi City | – | – | ¥8.0M | ¥23k/m² | – |
| Tamano City | – | – | ¥3.7M | ¥22k/m² | – |
| Bizen City | – | – | ¥4.0M | ¥7k/m² | – |
| Maniwa City | – | – | ¥3.0M | ¥8k/m² | – |
| Ibara City | – | – | – | ¥14k/m² | – |
Prices near train stations in Okayama
Sales from 2023–2025, grouped by nearest station.
| Station | Median used condo price | Condo price per m² | Median house price (land + building) | Walk (min) | Sales |
|---|---|---|---|---|---|
| Okayama (岡山) | ¥24.0M | ¥353k/m² | ¥27.0M | 14 | 921 |
| Kurashiki (倉敷) | ¥21.0M | ¥296k/m² | ¥27.0M | 18 | 384 |
| Omoto(Okayama) (大元) | ¥21.0M | ¥313k/m² | ¥56.0M | 11 | 207 |
| Shin Kurashiki (新倉敷) | – | – | ¥27.0M | 18 | 135 |
| Tsuyama (津山) | – | – | ¥8.9M | 18 | 121 |
| Bizen Nishiichi (備前西市) | ¥16.0M | ¥225k/m² | ¥35.0M | 16 | 116 |
| Seto (瀬戸) | – | – | ¥15.5M | 14 | 106 |
| Kojima (児島) | – | – | ¥8.0M | 15 | 105 |
| Chayamachi (茶屋町) | – | – | ¥20.5M | 12 | 102 |
| Nakasho (中庄) | ¥15.0M | ¥300k/m² | ¥18.0M | 14 | 99 |
| Nishiachi (西阿知) | – | – | ¥29.0M | 18 | 94 |
| Niwase (庭瀬) | – | – | ¥24.0M | 16 | 94 |
| Kasaoka (笠岡) | – | – | ¥9.8M | 20 | 86 |
| Hokaiin (法界院) | ¥23.0M | ¥317k/m² | ¥34.0M | 11 | 82 |
| Takashima(Okayama) (高島(岡山)) | ¥15.0M | ¥229k/m² | ¥33.0M | 15 | 82 |
Used condo prices by layout in Okayama
Sales from 2023–2025.
| Layout | Median used condo price | Typical size | Sales |
|---|---|---|---|
| 3LDK | ¥23.0M | 70 m² | 339 |
| 2LDK | ¥19.0M | 65 m² | 124 |
| 4LDK | ¥27.0M | 80 m² | 69 |
| 1K | ¥3.3M | 20 m² | 33 |
| 1LDK | ¥20.0M | 52.5 m² | 20 |
| 2DK | ¥15.0M | 60 m² | 14 |
| 1DK | ¥3.9M | 32.5 m² | 10 |
How much does an apartment cost in Okayama?
The median used condo (mansion) in Okayama sold for ¥21.0M in 2025, about ¥293k/m², based on 203 recorded sales.
How much does a house cost in Okayama?
The median house sale, including the land, was ¥17.0M in 2025 across 1570 sales.
Are property prices in Okayama going up?
Over the five years to 2025, condo prices per m² changed +15.5% and residential land prices changed +14.7%.
About this data
Figures are medians of real transactions reported to Japan's Ministry of Land, Infrastructure, Transport and Tourism (MLIT) through its quarterly price survey. House prices per m² divide the total price (land and building) by the floor area. Medians based on fewer than 20 sales are not shown. The latest quarters are preliminary and are revised as more survey responses arrive.
Information only, not investment advice.