Municipalities ranked by the estimated market value of all land and buildings. Designated cities are counted as a whole and Tokyo's 23 wards as one (ward-level assessed values are not published).
Data last updated: November 2026 (Land Price Publication 2026, Prefectural Survey 2026, transactions through Q2 2026)
| Rank | Area | Total value | ≈ USD | Land | Buildings | Share of Japan | Avg. residential |
|---|---|---|---|---|---|---|---|
| 1 | Kobe City Hyogo |
¥17.1 trillion | $108.3B | ¥12.5 trillion | ¥4.6 trillion | 1.2% | ¥184K/m² |
| 2 | Nishinomiya City Hyogo |
¥6.4 trillion | $40.8B | ¥5.2 trillion | ¥1.2 trillion | 0.46% | ¥293K/m² |
| 3 | Amagasaki City Hyogo |
¥5.4 trillion | $34.0B | ¥4.2 trillion | ¥1.2 trillion | 0.39% | ¥209K/m² |
| 4 | Himeji City Hyogo |
¥5.0 trillion | $31.5B | ¥3.6 trillion | ¥1.4 trillion | 0.36% | ¥68K/m² |
| 5 | Akashi City Hyogo |
¥2.5 trillion | $15.5B | ¥1.8 trillion | ¥660.4 billion | 0.18% | ¥118K/m² |
| 6 | Takarazuka City Hyogo |
¥2.4 trillion | $15.3B | ¥1.9 trillion | ¥492.6 billion | 0.17% | ¥166K/m² |
| 7 | Itami City Hyogo |
¥2.2 trillion | $13.9B | ¥1.8 trillion | ¥435.1 billion | 0.16% | ¥199K/m² |
| 8 | Kakogawa City Hyogo |
¥2.1 trillion | $13.4B | ¥1.6 trillion | ¥558.7 billion | 0.15% | ¥78K/m² |
| 9 | Ashiya City Hyogo |
¥1.7 trillion | $10.5B | ¥1.4 trillion | ¥299.3 billion | 0.12% | ¥401K/m² |
| 10 | Kawanishi City Hyogo |
¥1.2 trillion | $7.9B | ¥936.6 billion | ¥305.8 billion | 0.09% | ¥99K/m² |
| 11 | Takasago City Hyogo |
¥879.1 billion | $5.6B | ¥660.2 billion | ¥218.9 billion | 0.06% | ¥63K/m² |
| 12 | Sanda City Hyogo |
¥843.3 billion | $5.3B | ¥563.4 billion | ¥279.9 billion | 0.06% | ¥55K/m² |
| 13 | Miki City Hyogo |
¥574.5 billion | $3.6B | ¥397.1 billion | ¥177.4 billion | 0.04% | ¥30K/m² |
| 14 | Tatsuno City Hyogo |
¥548.8 billion | $3.5B | ¥382.4 billion | ¥166.4 billion | 0.04% | ¥40K/m² |
| 15 | Toyooka City Hyogo |
¥474.5 billion | $3.0B | ¥317.0 billion | ¥157.5 billion | 0.03% | ¥29K/m² |
| 16 | Ako City Hyogo |
¥422.2 billion | $2.7B | ¥311.7 billion | ¥110.5 billion | 0.03% | ¥41K/m² |
| 17 | Ono City Hyogo |
¥390.7 billion | $2.5B | ¥256.6 billion | ¥134.2 billion | 0.03% | ¥37K/m² |
| 18 | Tanba City Hyogo |
¥346.6 billion | $2.2B | ¥207.3 billion | ¥139.3 billion | 0.03% | ¥15K/m² |
| 19 | Kasai City Hyogo |
¥343.0 billion | $2.2B | ¥218.2 billion | ¥124.8 billion | 0.03% | ¥29K/m² |
| 20 | Kato City Hyogo |
¥338.7 billion | $2.1B | ¥209.6 billion | ¥129.2 billion | 0.02% | ¥27K/m² |
| 21 | Harima Town Hyogo |
¥337.1 billion | $2.1B | ¥259.8 billion | ¥77.2 billion | 0.02% | ¥84K/m² |
| 22 | Sumoto City Hyogo |
¥274.4 billion | $1.7B | ¥165.6 billion | ¥108.8 billion | 0.02% | ¥32K/m² |
| 23 | Minamiawaji City Hyogo |
¥259.8 billion | $1.6B | ¥139.7 billion | ¥120.1 billion | 0.02% | ¥22K/m² |
| 24 | Awaji City Hyogo |
¥251.0 billion | $1.6B | ¥144.7 billion | ¥106.4 billion | 0.02% | ¥29K/m² |
| 25 | Taishi Town Hyogo |
¥249.2 billion | $1.6B | ¥184.3 billion | ¥64.9 billion | 0.02% | ¥57K/m² |
| 26 | Tamba Sasayama City Hyogo |
¥245.2 billion | $1.6B | ¥159.2 billion | ¥86.0 billion | 0.02% | ¥19K/m² |
| 27 | Nishiwaki City Hyogo |
¥236.3 billion | $1.5B | ¥152.7 billion | ¥83.6 billion | 0.02% | ¥19K/m² |
| 28 | Inami Town Hyogo |
¥227.9 billion | $1.4B | ¥163.8 billion | ¥64.1 billion | 0.02% | ¥44K/m² |
| 29 | Inagawa Town Hyogo |
¥213.1 billion | $1.3B | ¥130.6 billion | ¥82.5 billion | 0.01% | ¥42K/m² |
| 30 | Shiso City Hyogo |
¥209.1 billion | $1.3B | ¥140.2 billion | ¥68.9 billion | 0.01% | ¥21K/m² |
| 31 | Aioi City Hyogo |
¥193.4 billion | $1.2B | ¥135.2 billion | ¥58.2 billion | 0.01% | ¥40K/m² |
| 32 | Fukusaki Town Hyogo |
¥177.8 billion | $1.1B | ¥117.3 billion | ¥60.5 billion | 0.01% | ¥38K/m² |
| 33 | Asago City Hyogo |
¥169.4 billion | $1.1B | ¥104.5 billion | ¥64.9 billion | 0.01% | ¥22K/m² |
| 34 | Kamigori Town Hyogo |
¥100.5 billion | $636.51M | ¥62.7 billion | ¥37.8 billion | 0.01% | ¥17K/m² |
| 35 | Yabu City Hyogo |
¥99.6 billion | $630.63M | ¥57.0 billion | ¥42.6 billion | 0.01% | ¥18K/m² |
| 36 | Sayo Town Hyogo |
¥89.2 billion | $564.91M | ¥48.5 billion | ¥40.7 billion | 0.01% | ¥12K/m² |
| 37 | Taka Town Hyogo |
¥80.3 billion | $508.71M | ¥44.3 billion | ¥36.0 billion | 0.01% | ¥8,721/m² |
| 38 | Kami Town Hyogo |
¥69.7 billion | $441.16M | ¥42.6 billion | ¥27.1 billion | 0.01% | ¥15K/m² |
| 39 | Shin-onsen Town Hyogo |
¥57.6 billion | $364.84M | ¥33.8 billion | ¥23.8 billion | 0.00% | ¥20K/m² |
| 40 | Ichikawa Town Hyogo |
¥56.0 billion | $354.62M | ¥31.9 billion | ¥24.1 billion | 0.00% | ¥9,533/m² |
| 41 | Kamikawa Town Hyogo |
¥51.0 billion | $323.26M | ¥27.6 billion | ¥23.5 billion | 0.00% | ¥8,950/m² |
41 areas · calculated Nov 2, 2026. Total value is estimated from assessed values for fixed-asset tax (MIC survey), with residential land brought to the level of official land prices; tax-exempt land and buildings are not included. Designated cities are counted as a whole and Tokyo's 23 wards as one.
Based on Japan's official land price surveys and MLIT transaction data, aggregated by Fudosan Zukan. Forecasts and the index are Fudosan Zukan indicators. Prices in Japanese yen.