Meguro Ward Housing Market 2025: Expensive, Quiet, and Not Getting Bigger
Data updated 2026-11-10 · Source: MLIT transaction price survey, 2005 Q3–2026 Q2
Key figures for 2025
- Median used condo price
- ¥58.0M
- ¥1.4M/m² · +10.8% vs 2024
- Median house price (land + building)
- ¥170M
- Residential land per m² (sales)
- ¥1.3M/m²
- +54.8% over 5 years
- Transactions in 2025
- 619
- #5 of 50 areas in Tokyo by price per m²
A premium residential ward
Meguro is the fifth most expensive of the 23 wards at about ¥1.4M per m² for a used condo. The median condo sold for about ¥58M, among the highest medians in Tokyo, because homes here are bigger than in the central business wards. Only about a third of condo sales are studios.
Prices rising, faster than before
Prices per m² rose about 5.5% a year over the past five years, faster than the five years before. Benchmark residential land rose 13.7% in the past year. Even so, Meguro's premium over the Tokyo average has narrowed a little over ten years, as the central wards pulled further ahead.
Population is flat
Meguro's population fell 0.6% between 2020 and 2025, one of only three wards to shrink. This is not because people are leaving: in 2025 more people moved in from the rest of Japan than left. Meguro is fully built up and new housing is scarce.
Station distance matters less
Condos within 5 minutes of a station sell for only about 6% more per m² than those 11–15 minutes away. Naka-Meguro and Meguro are the priciest of the busiest stations; Gakugei-Daigaku and Toritsu-Daigaku on the Toyoko line are the busiest.
Rents and risks
A median condo costs about 45 years of median rent, so yields are thin and buyers are paying for location. Meguro has no deep flood zones on its benchmark sites, and its earthquake probability is below most wards. No Urgent Urban Renewal Area is in the ward.
Living in Meguro Ward: people, homes and risks
- Population 2025
- 286,468
- -0.6% since 2020
- Tokyo: +1.4%
- Net moves in 2025
- +931
- +3.25 per 1,000 residents
- Tokyo: +4.58
- Vacant homes (2023)
- 10.7%
- 2.0% empty and not for rent or sale
- Tokyo: 10.9%
- Median rent (2023)
- ¥109k
- per month, all rented homes
- Tokyo: ¥78k
- Strong earthquake risk
- 48.5%
- chance of shaking of intensity 6-lower or more within 30 years
- Tokyo: 52.8%
- Official land price 2026
- ¥1.2M/m²
- +13.7% in a year · +45.1% in 5 years
- Tokyo: ¥407k/m²
- Flood exposure
- 26.5%
- of 49 benchmark sites in a worst-case flood zone (0.0% 3 m or deeper)
- Tokyo: 42.5%
- Landslide exposure
- 0.0%
- of 49 benchmark sites in a landslide warning area
- Tokyo: 0.8%
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 Meguro Ward
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
¥31.0M
¥1.2M/m²
- Shimomeguro
- Meguro · 10 min walk
- 1K · 25 m²
- Built 1999 (26 yrs) · SRC
¥61.0M
¥1.5M/m²
- Meguro
- Meguro · 12 min walk
- 1LDK · 40 m²
- Built 1977 (49 yrs) · SRC
¥120M
¥2.4M/m²
- Tairamachi
- Toritsu Daigaku · 7 min walk
- 2LDK · 50 m²
- Built 2018 (7 yrs) · RC
House
¥100M
¥714k/m²
- Megurohoncho
- Musashi Koyama · 8 min walk
- Land 95 m² · floor 140 m²
- Built 1997 (29 yrs) · Wood
¥170M
¥1.6M/m²
- Ookayama
- Ookayama · 3 min walk
- Land 85 m² · floor 105 m²
- Built 2026 (0 yrs) · Wood
¥390M
¥1.3M/m²
- Midorigaoka
- Midorigaoka(Tokyo) · 5 min walk
- Land 210 m² · floor 300 m²
- Built 2025 (0 yrs) · Steel
Show data table
| Year | Condo | House |
|---|---|---|
| 2005 | ¥24.0M | ¥81.5M |
| 2006 | ¥24.0M | ¥82.0M |
| 2007 | ¥34.0M | ¥100M |
| 2008 | ¥30.0M | ¥82.5M |
| 2009 | ¥34.0M | ¥66.0M |
| 2010 | ¥34.0M | ¥81.0M |
| 2011 | ¥28.0M | ¥74.5M |
| 2012 | ¥29.0M | ¥79.0M |
| 2013 | ¥32.0M | ¥79.0M |
| 2014 | ¥26.0M | ¥80.0M |
| 2015 | ¥33.0M | ¥93.0M |
| 2016 | ¥38.5M | ¥89.0M |
| 2017 | ¥36.0M | ¥86.0M |
| 2018 | ¥39.5M | ¥99.5M |
| 2019 | ¥38.0M | ¥92.0M |
| 2020 | ¥40.0M | ¥100M |
| 2021 | ¥49.0M | ¥120M |
| 2022 | ¥48.0M | ¥120M |
| 2023 | ¥54.0M | ¥140M |
| 2024 | ¥55.0M | ¥130M |
| 2025 | ¥58.0M | ¥170M |
| 2026 (partial) | ¥56.0M | ¥205M |
Show data table
| Year | Condo | House | Land |
|---|---|---|---|
| 2005 | ¥800k/m² | ¥662k/m² | ¥700k/m² |
| 2006 | ¥647k/m² | ¥714k/m² | ¥770k/m² |
| 2007 | ¥848k/m² | ¥780k/m² | ¥900k/m² |
| 2008 | ¥775k/m² | ¥687k/m² | ¥760k/m² |
| 2009 | ¥767k/m² | ¥630k/m² | ¥670k/m² |
| 2010 | ¥778k/m² | ¥600k/m² | ¥700k/m² |
| 2011 | ¥750k/m² | ¥665k/m² | ¥690k/m² |
| 2012 | ¥733k/m² | ¥649k/m² | ¥680k/m² |
| 2013 | ¥767k/m² | ¥640k/m² | ¥710k/m² |
| 2014 | ¥800k/m² | ¥718k/m² | ¥705k/m² |
| 2015 | ¥900k/m² | ¥725k/m² | ¥740k/m² |
| 2016 | ¥933k/m² | ¥740k/m² | ¥825k/m² |
| 2017 | ¥971k/m² | ¥819k/m² | ¥845k/m² |
| 2018 | ¥1.0M/m² | ¥800k/m² | ¥820k/m² |
| 2019 | ¥1.0M/m² | ¥781k/m² | ¥850k/m² |
| 2020 | ¥1.1M/m² | ¥860k/m² | ¥840k/m² |
| 2021 | ¥1.1M/m² | ¥956k/m² | ¥970k/m² |
| 2022 | ¥1.2M/m² | ¥958k/m² | ¥1.1M/m² |
| 2023 | ¥1.3M/m² | ¥1.0M/m² | ¥1.1M/m² |
| 2024 | ¥1.3M/m² | ¥1.1M/m² | ¥1.2M/m² |
| 2025 | ¥1.4M/m² | ¥1.2M/m² | ¥1.3M/m² |
| 2026 (partial) | ¥1.5M/m² | ¥1.3M/m² | ¥1.6M/m² |
Show data table
| Building age (years) | Condo | House |
|---|---|---|
| 0 | – | ¥1.2M/m² |
| 1 | ¥1.9M/m² | ¥1.2M/m² |
| 2 | ¥1.6M/m² | ¥1.4M/m² |
| 3 | ¥1.5M/m² | ¥1.4M/m² |
| 4 | ¥1.8M/m² | ¥1.2M/m² |
| 5 | ¥1.6M/m² | ¥1.0M/m² |
| 6 | ¥1.6M/m² | ¥1.1M/m² |
| 7 | ¥1.6M/m² | ¥1.1M/m² |
| 8 | ¥1.6M/m² | ¥1.2M/m² |
| 9 | ¥1.4M/m² | ¥1.0M/m² |
| 10 | ¥1.5M/m² | – |
| 11 | ¥1.5M/m² | ¥980k/m² |
| 12 | ¥1.6M/m² | – |
| 13 | ¥1.4M/m² | – |
| 14 | ¥1.4M/m² | – |
| 15 | ¥1.4M/m² | – |
| 16 | ¥1.3M/m² | ¥913k/m² |
| 17 | ¥1.3M/m² | ¥911k/m² |
| 18 | ¥1.4M/m² | ¥1.1M/m² |
| 19 | ¥1.4M/m² | – |
| 20 | ¥1.3M/m² | ¥1.0M/m² |
| 21 | ¥1.2M/m² | ¥864k/m² |
| 22 | ¥1.2M/m² | ¥900k/m² |
| 23 | ¥1.3M/m² | ¥813k/m² |
| 24 | ¥1.2M/m² | – |
| 25 | ¥1.3M/m² | ¥833k/m² |
| 26 | ¥1.3M/m² | ¥813k/m² |
| 27 | ¥1.3M/m² | ¥828k/m² |
| 28 | ¥1.3M/m² | ¥871k/m² |
| 29 | ¥1.3M/m² | – |
| 30 | ¥1.2M/m² | ¥814k/m² |
| 31 | ¥1.1M/m² | ¥667k/m² |
| 32 | ¥914k/m² | ¥817k/m² |
| 33 | ¥938k/m² | ¥969k/m² |
| 34 | ¥1.0M/m² | ¥980k/m² |
| 35 | ¥933k/m² | ¥741k/m² |
| 36 | ¥978k/m² | ¥1.2M/m² |
| 37 | ¥965k/m² | ¥579k/m² |
| 38 | ¥1.0M/m² | – |
| 39 | ¥910k/m² | ¥800k/m² |
| 40 | ¥867k/m² | – |
| 41 | ¥933k/m² | – |
| 42 | ¥976k/m² | – |
| 43 | ¥1.0M/m² | – |
| 44 | ¥925k/m² | – |
| 45 | ¥1.0M/m² | ¥1.1M/m² |
| 46 | ¥1.0M/m² | – |
| 47 | ¥1.0M/m² | – |
| 48 | ¥820k/m² | – |
| 49 | ¥860k/m² | – |
| 50 | ¥909k/m² | ¥946k/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 |
|---|---|---|---|---|
| 2005 | – | ¥660k/m² | ¥1.1M/m² | – |
| 2006 | ¥548k/m² | ¥657k/m² | ¥960k/m² | – |
| 2007 | ¥547k/m² | ¥786k/m² | ¥1.1M/m² | – |
| 2008 | ¥600k/m² | ¥780k/m² | ¥909k/m² | – |
| 2009 | ¥527k/m² | ¥720k/m² | ¥1.0M/m² | – |
| 2010 | ¥583k/m² | ¥705k/m² | ¥964k/m² | – |
| 2011 | ¥592k/m² | ¥671k/m² | ¥938k/m² | ¥1.0M/m² |
| 2012 | ¥546k/m² | ¥700k/m² | ¥905k/m² | – |
| 2013 | ¥543k/m² | ¥720k/m² | ¥925k/m² | ¥1.1M/m² |
| 2014 | ¥543k/m² | ¥733k/m² | ¥988k/m² | ¥1.1M/m² |
| 2015 | ¥680k/m² | ¥800k/m² | ¥1.1M/m² | ¥1.3M/m² |
| 2016 | ¥614k/m² | ¥842k/m² | ¥1.1M/m² | ¥1.2M/m² |
| 2017 | ¥710k/m² | ¥900k/m² | ¥1.1M/m² | ¥1.3M/m² |
| 2018 | ¥711k/m² | ¥933k/m² | ¥1.1M/m² | ¥1.3M/m² |
| 2019 | ¥769k/m² | ¥950k/m² | ¥1.1M/m² | ¥1.3M/m² |
| 2020 | ¥800k/m² | ¥900k/m² | ¥1.2M/m² | ¥1.3M/m² |
| 2021 | ¥815k/m² | ¥1.1M/m² | ¥1.3M/m² | ¥1.4M/m² |
| 2022 | ¥895k/m² | ¥1.1M/m² | ¥1.3M/m² | ¥1.4M/m² |
| 2023 | ¥1.0M/m² | ¥1.1M/m² | ¥1.4M/m² | ¥1.6M/m² |
| 2024 | ¥1.0M/m² | ¥1.2M/m² | ¥1.4M/m² | ¥1.7M/m² |
| 2025 | ¥1.0M/m² | ¥1.4M/m² | ¥1.6M/m² | ¥1.9M/m² |
| 2026 (partial) | – | ¥1.2M/m² | ¥1.6M/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 |
|---|---|---|---|---|
| 2005 | – | ¥554k/m² | ¥714k/m² | – |
| 2006 | – | ¥650k/m² | ¥747k/m² | – |
| 2007 | – | ¥641k/m² | ¥828k/m² | – |
| 2008 | – | ¥649k/m² | ¥788k/m² | – |
| 2009 | – | ¥575k/m² | ¥667k/m² | – |
| 2010 | – | ¥560k/m² | ¥675k/m² | – |
| 2011 | – | ¥596k/m² | ¥706k/m² | ¥739k/m² |
| 2012 | – | ¥553k/m² | ¥643k/m² | ¥778k/m² |
| 2013 | ¥559k/m² | ¥558k/m² | ¥679k/m² | ¥778k/m² |
| 2014 | – | ¥578k/m² | ¥726k/m² | ¥851k/m² |
| 2015 | – | ¥649k/m² | ¥765k/m² | ¥886k/m² |
| 2016 | – | ¥649k/m² | ¥743k/m² | ¥850k/m² |
| 2017 | – | ¥697k/m² | ¥745k/m² | ¥940k/m² |
| 2018 | – | ¥724k/m² | ¥802k/m² | ¥940k/m² |
| 2019 | ¥759k/m² | ¥654k/m² | ¥800k/m² | ¥870k/m² |
| 2020 | – | ¥684k/m² | ¥938k/m² | ¥978k/m² |
| 2021 | – | ¥762k/m² | ¥909k/m² | ¥1.1M/m² |
| 2022 | – | ¥814k/m² | – | ¥1.1M/m² |
| 2023 | – | ¥852k/m² | ¥1.1M/m² | – |
| 2024 | – | ¥875k/m² | ¥1.0M/m² | ¥1.1M/m² |
| 2025 | – | ¥895k/m² | – | ¥1.2M/m² |
Prices near train stations in Meguro Ward
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 |
|---|---|---|---|---|---|
| Gakugei Daigaku (学芸大学) | ¥52.0M | ¥1.2M/m² | ¥150M | 11 | 226 |
| Toritsu Daigaku (都立大学) | ¥55.0M | ¥1.3M/m² | ¥170M | 8 | 210 |
| Meguro (目黒) | ¥58.0M | ¥1.4M/m² | ¥150M | 9 | 205 |
| Naka Meguro (中目黒) | ¥59.5M | ¥1.5M/m² | ¥200M | 8 | 179 |
| Yutenji (祐天寺) | ¥56.0M | ¥1.3M/m² | ¥130M | 8 | 134 |
| Ikejiri Ohashi (池尻大橋) | ¥46.0M | ¥1.3M/m² | ¥695M | 6 | 112 |
| Musashi Koyama (武蔵小山) | ¥65.5M | ¥1.2M/m² | ¥130M | 8 | 69 |
| Nishi Koyama (西小山) | ¥67.0M | ¥1.2M/m² | ¥120M | 10 | 69 |
| Ookayama (大岡山) | ¥30.5M | ¥1.1M/m² | ¥98.0M | 9 | 55 |
| Komaba Todaimae (駒場東大前) | ¥59.0M | ¥1.4M/m² | ¥155M | 5 | 45 |
| Jiyugaoka(Tokyo) (自由が丘(東京)) | ¥73.0M | ¥1.4M/m² | ¥170M | 8 | 42 |
| Shinsen (神泉) | ¥40.0M | ¥1.4M/m² | – | 7 | 42 |
| Ebisu(Tokyo) (恵比寿) | ¥65.0M | ¥1.4M/m² | – | 9 | 41 |
| Midorigaoka(Tokyo) (緑が丘(東京)) | ¥65.5M | ¥1.3M/m² | ¥175M | 8 | 32 |
| Fudo Mae (不動前) | ¥40.0M | ¥1.3M/m² | – | 8 | 31 |
Used condo prices by layout in Meguro Ward
Sales from 2023–2025.
| Layout | Median used condo price | Typical size | Sales |
|---|---|---|---|
| 1K | ¥25.0M | 20 m² | 243 |
| 2LDK | ¥86.5M | 55 m² | 224 |
| 1LDK | ¥54.0M | 40 m² | 183 |
| 3LDK | ¥100M | 70 m² | 163 |
| 1DK | ¥36.0M | 30 m² | 55 |
| 2DK | ¥55.5M | 45 m² | 36 |
| 1R | ¥22.0M | 20 m² | 13 |
How much does an apartment cost in Meguro Ward?
The median used condo (mansion) in Meguro Ward sold for ¥58.0M in 2025, about ¥1.4M/m², based on 331 recorded sales.
How much does a house cost in Meguro Ward?
The median house sale, including the land, was ¥170M in 2025 across 170 sales.
Are property prices in Meguro Ward going up?
Over the five years to 2025, condo prices per m² changed +33.3% and residential land prices changed +54.8%.
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.