Affordable Seoul Housing: Low Deposit Solutions for Expats
Low-Deposit Housing Options for Expats
1. Co-Living Spaces (Best Overall Value)
Modern co-living has revolutionized Seoul's housing market for international residents, offering the perfect balance of affordability, community, and convenience.
Deposit Requirements:
Range: ₩0 - ₩1,000,000
Many properties: Zero deposit available
Fully refundable upon checkout
Monthly Costs:
Private rooms: ₩600,000 - ₩900,000
Premium rooms: ₩900,000 - ₩1,200,000
All-inclusive rates (no surprise bills)
What's Included:
Fully furnished private bedroom
High-speed WiFi (100+ Mbps)
All utilities (electricity, water, gas)
Shared kitchen with appliances
Common living areas
Laundry facilities
Cleaning services
Community events
Why Choose Co-Living:
Minimal financial barrier to entry
Instant international community
No furniture or setup needed
English-speaking staff
Flexible terms (monthly extensions)
Prime locations near transit
Professional property management
Best Neighborhoods for Co-Living:
Hongdae: Young, creative, nightlife-focused
Gangnam: Professional, modern, upscale
Itaewon: International, diverse, LGBTQ+ friendly
Sinchon: Student-friendly, affordable
Jongno: Central, historic, convenient
Ideal For:
Digital nomads (1-6 months)
Students and language learners
Working holiday visa holders
Young professionals on assignment
Solo travelers seeking community
2. Goshiwon (Ultra-Budget Option)
Goshiwon are compact private rooms originally designed for students, now popular with budget-conscious expats.
Deposit Requirements:
Typically: ₩300,000 - ₩500,000
Some locations: Zero deposit
Immediate move-in possible
Monthly Costs:
₩300,000 - ₩550,000
Lowest-cost option in Seoul
What's Included:
Tiny private room (5-7㎡)
Bed and small desk
Shared bathroom facilities
Shared kitchen (basic)
Utilities included
Often provides rice and kimchi
Advantages:
Extremely low cost
Very low or zero deposit
Central locations available
Month-to-month flexibility
No long-term commitment
Disadvantages:
Very small space (similar to large closet)
Shared bathrooms and showers
Thin walls, potential noise
Limited privacy
Minimal storage
Ideal For:
Extreme budget travelers
Short stays (1-3 months)
Solo residents comfortable with minimal space
Students prioritizing location over comfort
3. Serviced Residences
Hotel-like apartments designed for extended stays, offering more space and privacy.
Deposit Requirements:
Usually one month's rent
Some accept credit card authorization
No traditional Korean deposit system
Monthly Costs:
Studio: ₩1,500,000 - ₩2,500,000
One-bedroom: ₩2,000,000 - ₩3,500,000
Premium pricing for premium service
What's Included:
Hotel-quality furnishings
Daily or weekly housekeeping
Concierge services
Building amenities (gym, lounge)
24/7 reception and security
Maintenance included
Kitchenette or full kitchen
Advantages:
Complete privacy
Professional service standards
No community living required
Flexible cancellation policies
English-speaking staff standard
Disadvantages:
Higher monthly costs
Less social interaction
May feel isolated for solo travelers
Premium pricing
Ideal For:
Business travelers with corporate budgets
Families needing more space
Those prioritizing privacy and service
Professionals on temporary assignments
4. Airbnb Monthly Stays
Entire apartments available through the familiar Airbnb platform.
Deposit Requirements:
Handled through Airbnb platform
Typically one month's payment upfront
No traditional Korean deposit
Monthly Costs:
Studio: ₩1,000,000 - ₩1,800,000
One-bedroom: ₩1,500,000 - ₩2,500,000
Plus Airbnb service fees (10-15%)
Advantages:
Easy booking in English
Transparent pricing and reviews
Entire apartment to yourself
Flexible terms and cancellation
No in-person negotiations
Familiar platform for international users
Disadvantages:
Service fees increase total cost
Quality varies significantly by host
Less support for local issues
No community aspect
Host responsiveness varies
Ideal For:
Those wanting complete independence
Couples or small families
Travelers comfortable with online booking
Those seeking apartment-style living
Comparing Your Options: Which Is Right for You?
Choose Co-Living If:
✓ Staying 1-6 months ✓ Want to meet other international residents ✓ Prefer all-inclusive, hassle-free living ✓ Like having English-speaking support ✓ Want flexibility with minimal commitment ✓ Budget: ₩600,000-₩1,000,000/month
Choose Goshiwon If:
✓ Budget is top priority ✓ Comfortable with very small spaces ✓ Staying solo for 1-3 months ✓ Want ultra-low deposit ✓ Need central Seoul location ✓ Budget: ₩300,000-₩550,000/month
Choose Serviced Residence If:
✓ Need privacy and personal space ✓ Have higher budget or corporate coverage ✓ Relocating with family ✓ Want hotel-level service ✓ Prioritize comfort over cost ✓ Budget: ₩1,500,000-₩3,500,000/month
Choose Airbnb If:
✓ Want entire apartment to yourself ✓ Prefer familiar booking platform ✓ Need flexible cancellation ✓ Comfortable with variable host quality ✓ Don't need community aspect ✓ Budget: ₩1,200,000-₩2,500,000/month + fees
Special Offer: Low-Deposit Option in Jongno
Looking for high-quality co-living with minimal deposit? Here's an excellent option in the historic Jongno district.
Noden Jongno: Premium Co-Living with Minimal Deposit
If you're looking for the perfect example of low-deposit, high-quality co-living in Seoul, Noden Jongno stands out as an excellent choice.
Why Noden Jongno?
Minimal Deposit Requirement With a deposit of just 1 million won, Noden Jongno removes the financial barrier that keeps many expats from enjoying quality housing in Seoul. This is a fraction of what traditional rentals demand, making it accessible for short to medium-term residents.
Brand New Construction The building is newly constructed with modern amenities and fresh facilities throughout. You won't have to worry about outdated appliances or worn-out furniture—everything is pristine and designed with contemporary living in mind.
Prime Central Location Located in the heart of Jongno, one of Seoul's most central districts, you'll be perfectly positioned to explore the city. The area blends Seoul's rich history with modern convenience, offering easy access to both traditional markets and contemporary cafes.
Exceptional Transit Access Just a 3-minute walk from the nearest subway station, Noden Jongno makes getting anywhere in Seoul incredibly convenient. Whether you're commuting to Gangnam for work, heading to Hongdae for nightlife, or exploring Itaewon on weekends, you're well-connected to the entire city.
All-Inclusive Living Like most quality co-living spaces, Noden Jongno offers fully furnished rooms with utilities, high-speed internet, and cleaning services included in the monthly rate. This means no surprise bills and complete peace of mind.
Learn More: Visit Noden Jongno to explore available rooms, check current promotions, and book your stay.
Start Your Seoul Journey Today
Seoul is waiting for you—and you don't need millions of won in deposit to experience it. With low-deposit options available, living in Korea's capital has never been more accessible.
Your Path to Affordable Seoul Housing:
✅ Skip traditional Korean deposits (₩5-10 million won) ✅ Choose co-living for best overall value ✅ Move in with minimal upfront costs ✅ Spend your money on experiences, not deposits
Ready to find your perfect Seoul accommodation?
Explore options like Noden Jongno for low-deposit, high-quality co-living in central Seoul.
Your Seoul adventure starts now—affordably, easily, and without the deposit burden.