Korea rent and deposit calculator

Compare the real monthly cost of up to three homes, including the deposit.

Last verified: Oct 14, 2026

Home 1

Deposit (보증금)

₩

Monthly rent (월세)

₩

Maintenance fee (관리비)

₩

Contract length

months

Deposit-to-rent rate

Used to turn the deposit into a monthly cost. The legal cap for conversions during a lease is 5%.

Housing cost · Home 1

Real monthly cost

₩641,667

Real cost over the contract ₩15,400,000

Breakdown

Tap a line to see the math

Rent + maintenance₩600,000
₩500,000 + ₩100,000 = ₩600,000
Cost of the deposit₩41,667
₩10,000,000 × 5% ÷ 12 = ₩41,667
Legal cap 5% = base rate 3% + 2% (never above 10%)
Real monthly cost₩641,667
₩600,000 + ₩41,667 = ₩641,667
Cash paid over the contract₩14,400,000
₩600,000 × 24 months = ₩14,400,000
Real cost over the contract₩15,400,000
₩641,667 × 24 months = ₩15,400,000
Equivalent jeonse deposit₩130,000,000
₩10,000,000 + ₩500,000 × 12 ÷ 5% = ₩130,000,000

A deposit of ₩10,000,000 costs about ₩41,667 a month at 5%.

Convert deposit and rent

Amount to convert

₩

₩41,667 at 5%

Inputs are saved on this device only.

Results are estimates for reference only and are not tax or legal advice. Actual amounts can differ depending on your contract, employer and individual circumstances.

How it is calculated

Jeonse, wolse and the deposit

Most Korean rentals ask for a deposit (보증금, sometimes called key money) that is returned when you move out. With wolse you pay a smaller deposit plus monthly rent; with jeonse you pay a large deposit, often 50–80% of the home's value, and no monthly rent. Because the deposit could otherwise earn interest, the calculator adds its cost to the monthly rent so homes with different deposits can be compared fairly.

The legal conversion rate

When a deposit is converted to monthly rent during a lease or at renewal, the rate cannot exceed the Bank of Korea base rate plus 2 percentage points, and never more than 10% a year. With the base rate at 3.00% since August 27, 2026, the cap is 5.0%. New contracts are agreed freely, but the legal rate is a useful benchmark when you negotiate.

Goshiwon, share house or one-room?

A goshiwon (고시원) is a small furnished room with shared facilities, usually with little or no deposit and monthly payment. Share houses offer private rooms with shared kitchens and often accept short contracts. One-room (원룸) and officetel studios are self-contained but normally need a deposit of several million won or more and a contract of one year or longer.

Frequently asked questions

›What is the difference between jeonse and wolse?

Jeonse uses one large deposit and no monthly rent. Wolse combines a smaller deposit with monthly rent. Both deposits are returned at the end of the contract.

›How much deposit do I need for a one-room in Seoul?

It varies widely by area. Many one-room and officetel listings ask for a deposit of ₩5–10 million with monthly rent, while goshiwon and share houses may ask for little or none.

›How do you convert deposit to monthly rent in Korea?

Multiply the deposit amount by the conversion rate and divide by 12. At the 5.0% legal cap, ₩10 million of deposit equals about ₩41,667 a month.

›Can foreigners get their deposit protected?

Yes. Foreigners can report their move-in with their residence card address and get a fixed date on the contract, which gives the deposit legal priority. Deposit insurance from HUG or SGI is also available to registered foreigners.

›Is the maintenance fee included in rent?

Usually not. The maintenance fee (관리비) is paid separately and may or may not include utilities, internet and cleaning, so ask what it covers.

Before you sign: lease safety checklist

Check these before paying any deposit. Your ticks are saved on this device.

0 of 8 checked

- Read the property register (등기부등본) on the day you sign: owner name, mortgages and seizures
- Confirm the landlord's ID matches the owner on the register, or see a proper power of attorney
- Use a licensed real estate agent and get the confirmation and explanation document (중개대상물 확인·설명서)
- Read every special term (특약) in the contract, including who pays repairs and how the deposit is returned
- Report your move-in (전입신고) at the community service centre or online right after moving
- Get a fixed date (확정일자) on the contract to protect the deposit's priority
- Consider jeonse deposit insurance (전세보증보험) from HUG or SGI
- Pay the deposit by bank transfer to the owner's own account, never in cash

Recent rule changes

All rule changes →

Aug 27, 2026HousingIn effect
Base rate raised to 3.00%: rent conversion cap now 5.0%
The Bank of Korea raised its base rate to 3.00% on August 27, 2026. The legal cap for converting a deposit into monthly rent during a lease or renewal is the base rate + 2%p, so it is now 5.0% a year.
Affects: allSource: bok.or.kr

Sources and verification