The Singapore Rental Market in 2026: Prices, Trends and What They Mean
What private homes actually rent for — by bedroom and region — and why rents have stopped climbing after years of double-digit rises.
The median private (non-landed) home in Singapore rents for $4,300 a month, ranging from $3,300 for a one-bedder to $8,500 for a four-bedder, and from $3,850 in the suburbs (OCR) to $5,700 in the prime core (CCR). The bigger story is the slowdown: the URA rental index rose just 1.8% over the past year and 0.3% in the latest quarter to 161.4, a sharp cooling from the double-digit surges of a few years ago, as new completions gave tenants more choice. For tenants that means negotiating room; for landlords, compressed yields.
For a few years, Singapore's rental market only went one way — up, sharply. That has changed. Rents have essentially plateaued, and a wave of new completions has handed tenants the most choice they have had in years.
This page sets out what private homes actually rent for — by bedroom and by region — where the trend is heading, and what the shift means whether you are renting or letting out. It is part of our overview of the Singapore property market. The figures are transacted private rents; HDB sublet is a separate market.
What's happening in the Singapore rental market right now?
Rents are high but have stopped climbing. The median private home rents for $4,300 a month, while the URA rental index has flattened — up just 1.8% over the year — after years of double-digit surges, as new completions gave tenants more choice.
Two things at once: rents are high but no longer rising much. The median private (non-landed) home rents for $4,300 a month, but the URA rental index — the cleanest measure of the trend — has essentially flattened, at 161.4, up just 1.8% over the past year and 0.3% in the latest quarter.
That is a sharp change of gear. After the post-pandemic surge, when rents jumped by double digits a year, a large wave of new private completions has handed tenants far more choice, and more choice takes the heat out of rents. The market now sits in a plateau: elevated in absolute terms, but flat in direction. The rest of this page breaks down what that means by size, by region, and for your side of the deal.
Are rents in Singapore rising or falling?
They've plateaued. The URA rental index has crept from 156.6 in mid-2024 to 161.4 now — up 1.8% over the year and 0.3% in the latest quarter — after years of steep rises. Rents cooled before prices did, driven by new supply.
Neither, really — they have plateaued. The URA rental index has barely moved over the past year and even dipped late in 2025 before edging back:
| Quarter | Rental Index |
|---|---|
| 2024Q2 | 156.6 |
| 2024Q3 | 157.9 |
| 2024Q4 | 157.9 |
| 2025Q1 | 158.5 |
| 2025Q2 | 159.8 |
| 2025Q3 | 161.7 |
| 2025Q4 | 160.9 |
| 2026Q1 | 161.4 |
From 156.6 in mid-2024 to 161.4 now, the index has crept up gently and then stalled — a world away from the steep climb of the preceding years. Rents stopped climbing before prices did, which is typical: tenants can move in months while owners hold for years, so the rental line is the first place a hot housing market cools. The driver is supply — the completions pipeline — not a collapse in demand.
What is the average rent in Singapore?
The median private home rents for $4,300 a month (middle half $3,500–$5,600), from $3,300 for a one-bedder to $8,500 for a four-bedder. Rent per square foot generally falls as flats get bigger, even as the total rises.
For a private, non-landed home, the median rent is $4,300 a month, with the middle half of leases running from $3,500 to $5,600. But the average is almost meaningless on its own, because rent scales strongly with size:
| Bedrooms | Median rent | Rent psf | Leases (n) |
|---|---|---|---|
| 1-bed | $3,300 | $6.36 | 22,223 |
| 2-bed | $4,100 | $5.15 | 31,705 |
| 3-bed | $5,300 | $4.29 | 27,510 |
| 4-bed | $8,500 | $4.54 | 6,071 |
| 5+-bed | $10,800 | $3.95 | 312 |
Note the per-square-foot rate generally falls as flats get bigger — a one-bedder rents at $6.36 psf against a five-bedder's $3.95 — even though the total cheque rises. So a one-bedder is the cheapest to rent outright but the most expensive by the foot; a family-sized unit is the reverse. These are transacted private rents; HDB sublet rents are a separate market.
How much does rent vary by region in Singapore?
Significantly. A median home rents for $5,700 in the prime Core Central Region versus $3,850 in the suburban Outside Central Region — about 48% more — with the city fringe (RCR) in between at $4,300.
A lot — the prime core commands a clear premium over the suburbs:
| Region | Median rent | Rent psf | Leases (n) |
|---|---|---|---|
| CCR (Core Central Region) | $5,700 | $5.85 | 25,610 |
| RCR (Rest of Central Region) | $4,300 | $5.53 | 28,737 |
| OCR (Outside Central Region) | $3,850 | $4.40 | 33,474 |
A median home in the Core Central Region rents for $5,700 — about 48% more than the $3,850 in the Outside Central Region. The city fringe (RCR) sits in between at $4,300. The premium buys location: proximity to the CBD, the best transport and the amenities that expatriate and higher-income tenants pay up for. Volume, meanwhile, is highest in the suburbs (OCR), where most of the rental stock is. To see rents for a specific district or project, use the property listings finder.
Why have Singapore rents stopped rising?
Supply caught up with demand. A large wave of new private completions added rental stock just as demand steadied, slowing rent growth and handing tenants negotiating power — without, so far, pushing rents sharply down.
The short answer is supply catching up with demand. The rental surge of the preceding years was driven by a collision of forces — construction delays that held back completions, and a rebound in foreign hiring and returning residents that swelled demand. That gap has since closed from the supply side: a large wave of private projects has completed and handed keys to their buyers, many of whom let the units out.
More homes chasing a steadier pool of tenants does two things: it slows rent growth, and it hands tenants negotiating power they did not have at the peak. It does not, by itself, push rents down sharply — demand for well-located homes remains firm — but it takes the urgency out of the market.
Insight line: rents are set at the margin by how many keys are handed over, not by the headlines. The completions pipeline is the number to watch.
What does the plateau mean for tenants and landlords?
Tenants have gained negotiating room — more listings and flat rents mean you can bargain on price and terms. Landlords face compressed yields (flat rents against rising prices) and should price to the current market, not last year's peak.
It depends which side of the lease you are on.
If you are renting, the balance has shifted your way. With more listings and flat rents, there is room to negotiate — on price, on the lease term, on furnishing — that simply did not exist at the peak. Compare recent transacted rents for the same project and bedroom count before you agree, rather than the headline asking rent, which still tends to open high.
If you are letting out, the easy rental upside is behind you. Flat rents against still-rising purchase prices mean gross yields have compressed — the rent has stayed put while the capital value climbed. Price to the current market, not to last year's peak, and expect to work a little harder to secure a tenant.
Work out gross versus net yield for a specific unit with the rental yield guide, and check what is actually on the market in the listings overview. This is general information, not financial advice.
The biggest mistake people make reading the rental market
Judging the market by asking rents, which open high. Anchor to transacted rents for the same project and bedroom count, compare per-foot rates like with like, and remember a gross yield is before costs.
The most common mistake is judging the market by asking rents. Listing prices tend to open high — a landlord's opening position, not the market's answer — so anchoring to them overstates what tenants actually pay. Always check transacted rents for the same project and bedroom count.
Two more traps:
- Confusing the rate with the cheque. A one-bedder is the cheapest to rent overall but the most expensive per square foot; compare like with like.
- Treating a gross yield as your return. Gross yield is before maintenance, tax, vacancy and agent fees — the net figure is meaningfully lower, and a flat rental market compresses it further.
Get those right and the rental market is easy to read: elevated, plateaued, and tilting gently towards tenants.
Methodology and sources
Where every figure comes from — and what we deliberately did not claim.
Where the figures come from. The rental index and its quarterly trend are URA's official Rental Index for private residential property (whole island), read from PropKaki's database as of 2026Q1. Median rents by bedroom and region are computed over URA rental contracts (rental_stats_mv), trailing 12 months, non-landed private homes only. Rent per square foot uses the contract rent against the unit's floor area.
What we have not claimed: that these are asking rents (they are transacted contracts); that the plateau is a forecast (we describe the trend, not predict the next move); that HDB sublet rents follow the same pattern (that is a separate market); or that any specific unit rents at the median (floor, condition, furnishing and lease all move it). Rents are gross, before any agency fee, maintenance or tax. Data as of 2026 — verify the latest on URA and data.gov.sg. This is general information, not financial advice.
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Take any point from this analysis and apply it to your own project, budget or decision.
PropKakiFor most buyers this year, staying well within budget beats trying to time the market.