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Analyzing urban land use density is one of the most effective ways to understand urban spatial structure, and describe the procedure of urban development. Moreover, in order to dissect more accurate urban spatial characteristics, examining the land value is highly recommended simultaneously. This study aims to analyze the causal relationships between urban land use density and land value. Then, this study classifies land use efficiency in each Gu-district in Seoul and finds policy implication for more desirable future land use. The data for this research is provided from the property tax ledger of City of Seoul. For the research methods, this study adopts basic statistical analysis to summarize data. Moreover, this study utilizes PLS-structural equation modeling in order to analyze land use efficiency. The result of the SEM shows that Seoul’s land is efficiently used in general. However, some Gu’s land use was experiencing inefficiency. The inefficiency was resulted from the unbalanced roles of residential and commercial land use. This study attempts to understand the relationship between the development density and land value during the urban development procedure using actual data of Gu-district in Seoul. This study contributes to provide basic data for more efficient urban land uses in Seoul in the future.