This paper estimates the inherent value of an apartment by multiple regression and neural network model, after analyzing intrinsic factors such as physical, regional, and environmental characteristics of an apartment with Hedonic price function. The purpose of this paper is to find out inherent factors which influence an apartment price and to analyze how much each factor has an impact on the price through comparison and verification of the estimated values. The research method is as followings: First, we set an apartment price model with the inherent factors such as Floor, Situation, the number of Rooms, the number of Bathrooms, Sewage disposal, Sea view, Noise, Open, Old. Second, this paper estimates the inherent value of an apartment by neural network model, and then figures out the factors determining an apartment price.