Why Seoul students are being forced into cramped housing
Apartment buildings stand near Ewha Womans University in Seodaemun District, Seoul, Jan. 27. Korea Times photo by Chun Yae-hyun
With the spring semester just weeks away, university students in Seoul are facing a severe housing crunch as monthly rents skyrocket, compounding the financial strain of rising tuition and inflation.
Yoo, a 20-year-old sophomore at Yonsei University from South Jeolla Province, recently found out they didn't get a space through the school’s dormitory lottery. They are now scrambling to find off-campus housing before classes begin in March.
"No matter how much I scrimp, my fixed monthly costs for food, books and transport are already around 700,000 won ($480)," Yoo said. "Adding rent on top of that will double my living expenses. I’m really worried."
Yoo’s search for a room near the Sinchon campus has been futile. Most affordable units were snapped up, and remaining studios cost over 700,000 won per month, excluding maintenance fees. The sophomore considered moving to the Sillim Station area — a district known for cheaper housing — but the 40-minute commute is a major deterrent.
The atmosphere on campuses across Seoul is grim. Students describe a "triple whammy" of financial pressure driven by tuition hikes at major private universities, soaring prices for daily goods due to inflation and record-high rents.
The price of learning
In the neighborhood surrounding Ewha Womans University in Seodaemun District, realtors say the average monthly rent for a studio now ranges between 700,000 and 900,000 won. Even units marketed as "budget-friendly" require a hefty 10 million won security deposit and monthly payments of 660,000 won.
"I lived alone in this area two years ago, and rents seem to have jumped by nearly 100,000 won since then," said Lee Ju-won, a 22-year-old Yonsei student. "The competition for dorms has also become much fiercer."
The 'jeonse' trap
Market analysts attribute the surge to a structural shift in Korea’s real estate market. Scams involving Korea's unique lump-sum "jeonse" deposit lease system have pushed many tenants away from large deposits and toward monthly rentals.
As students flock to monthly rent to avoid the risk of losing large amounts of savings in deposit scams, the spike in demand has driven up prices for small studios in university districts.
According to the Korea Real Estate Board's National Housing Price Trend Survey, the rental price index for multi-family housing in the capital region hit 101.51 in December 2025, based on a benchmark of 100 set in March of that year. This marks the highest level since the board began compiling related data in June 2015.
The upward trend also extends to officetels (multi-purpose studio apartments), where monthly rents in Seoul climbed 0.76 percent from October to December compared to the previous quarter, the sharpest quarterly rise since statistics were first compiled.
An increase in international students is also fueling the shortage. According to the Ministry of Justice, the number of foreign students in Korea reached 308,838 in December 2025, a 17.1 percent jump from the previous year and double the figure from 2020.
"Since the end of the pandemic, the influx of foreign students has created a shortage of listings," said a realtor in Seodaemun District surnamed Yu. "In peak season like this, rooms are rented as soon as they are listed."
Rental listings are displayed on the window of a real estate agency near Sogang University in Mapo District, Seoul, Jan. 27. Korea Times photo by Kwon Jeong-hyeon
Forced to Downgrade
Priced out of standard studios, many students are being forced to downgrade their living standards. Some are turning to "gosiwon," a kind of micro-apartment with shared kitchens and bathrooms, or boarding houses.
"Gosiwon rooms require almost no deposit, and boarding houses provide food, which makes it affordable," said Oh, a 20-year-old student at Sungkyunkwan University. "I can't ask my parents for more money, so I plan to juggle tutoring and part-time jobs."
Experts argue that the government must intervene to protect students' right to education.
"Structural economic problems like inflation and housing costs are being offloaded onto students," said Jeong Se-eun, a professor of economics at Chungnam National University. "The government needs long-term measures, such as expanding dormitory capacity and providing direct housing subsidies."
This article from the Hankook Ilbo, the sister publication of The Korea Times, is translated by a generative AI system and edited by The Korea Times.