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What are Sydney's cheapest suburbs for rent?
Finding an affordable place to live in Sydney is hard but not impossible. We reveal the 20 suburbs that have the cheapest rent in Sydney for both houses and units.
16 Dec 2024
Finding an affordable place to live in Sydney is hard but not impossible. We reveal the 20 suburbs that have the cheapest rent in Sydney for both houses and units.
Sydney is the most expensive capital city in the rental market, according to CoreLogic figures for November 2024. This applies to both houses and units; with the median rent for houses being $814 and rent for units being $716 per week.
Dwelling rental values in Sydney increased by only 0.1% over the quarter and 3.4% over the 12 months to September. CoreLogic noted that Sydney rents actually fell over the three months to August 2024, which was the first decline in rents over a rolling three-month period since October 2020, amid COVID-related lockdowns. A decrease in net overseas migration, general affordability concerns and increased investor activity and supply of housing seem to be the contributing factors to this slowing of rental values.
Over the November quarter, rental values across Sydney decreased by 0.3% for units, while houses only saw an increase of 0.3%. The growth in unit rents (3.4%) only slightly outpaced the growth in house rents (3.3%) over the 12 months to November.
The number of available properties to rent has become less of an issue for Sydney renters in 2024. Just 12 months ago the vacancy rate in Sydney was a lean 1.7%, but has now increased to 2.2%. Again, this may be due to the decrease in net overseas migration, with Corelogic noting an ongoing slowdown in foreign student arrivals. Investor activity has also risen and with it most likely the supply of rental properties, meaning Sydney renters may find further relief in this increased supply.
It’s worth noting that there is a wide gap between the most expensive suburbs to rent and the cheapest. For houses, the most expensive median rent is in the exclusive enclave of Vaucluse, where it costs $2,184 a week. Meanwhile, in the city’s cheapest suburb, Tregear, it costs just $535 a week. For units, the suburb of Barangaroo, just south of the Iconic Sydney Opera House, has a median rental value of $1,290 per week. Carramar in the city of Parramatta, on the other hand, has the cheapest median rent for units at just $441 per week.
Related: Top 10 richest and poorest suburbs in Australia
CoreLogic has compiled a list of the suburbs with the cheapest rent in Sydney, for both houses and apartments.
Top 20 cheapest Sydney suburbs to rent
It’s possible to find a unit with a median rent that’s less than $500 a week in Sydney, but it does mean living at least 23 kilometres away from the CBD. The top ten cheapest suburbs for both houses and units are, on average, over 39 kilometres away from the centre of Sydney.
If you’re interested in buying in Sydney, our articles on the best affordable suburbs and 10 best Sydney suburbs to invest in may give you more insight.
Top 20 cheapest Sydney suburbs to rent: Houses
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| Suburb | Distance from Sydney’s general post office (GPO) |
Median weekly rental value |
Vacancy rate (Nov 2024) |
|---|---|---|---|
| Tregear | 41km | $535 | 3.00% |
| Lethbridge Park | 40km | $540 | 3.40% |
| Shalvey | 40km | $540 | 3.00% |
| Bidwill | 39km | $542 | 0.80% |
| Emerton | 40km | $542 | 3.80% |
| Blackett | 39km | $544 | 5.00% |
| Willmot | 42km | $544 | 4.20% |
| Whalan | 39km | $551 | 2.50% |
| Hebersham | 38km | $555 | 3.60% |
| Dharruk | 39km | $555 | 2.30% |
| Mount Victoria | 94km | $569 | 3.10% |
| North St Marys | 41km | $572 | 6.00% |
| Airds | 42km | $579 | 4.60% |
| Leumeah | 40km | $582 | 2.90% |
| Blackheath | 89km | $582 | 1.10% |
| Gorokan | 74km | $583 | 1.20% |
| Ambarvale | 45km | $584 | 2.60% |
| Bradbury | 44km | $585 | 2.30% |
| Mount Druitt | 38km | $586 | 2.70% |
| Campbelltown | 43km | $586 | 2.30% |
Data source: CoreLogic, November 2024. Median values refers to the middle of valuations observed in the region. Growth rates are based on changes in the CoreLogic Home Value index, which take into account value changes across the market. Only metrics with a minimum of 20 sales observations and a low standard error on the median valuation have been included.
Top 20 cheapest Sydney suburbs to rent: Units
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| Suburb | Distance from Sydney’s general post office (GPO) |
Median weekly rental value |
Vacancy rate (Nov 2024) |
|---|---|---|---|
| Carramar | 23km | $441 | 0.80% |
| Cabramatta | 25km | $447 | 0.70% |
| Gorokan | 73km | $462 | 0.60% |
| Berkeley Vale | 62km | $464 | 1.30% |
| Canley Vale | 25km | $475 | 1.10% |
| Jamisontown | 50km | $476 | 1.30% |
| Warwick Farm | 26km | $486 | 2.60% |
| Leumeah | 40km | $487 | 0.60% |
| Fairfield | 24km | $487 | 0.70% |
| Minto | 37km | $488 | 1.00% |
| Richmond | 52km | $494 | 0.80% |
| Mount Druitt | 38km | $495 | 0.90% |
| Kingswood | 47km | $497 | 1.00% |
| Wyong | 68km | $497 | 1.10% |
| Camden | 52km | $504 | Not available |
| Werrington | 44km | $505 | 3.20% |
| Liverpool | 27km | $507 | 1.80% |
| Wyoming | 53km | $511 | 1.80% |
| St Marys | 41km | $512 | 2.40% |
| Wiley Park | 14km | $514 | 0.90% |
Data source: CoreLogic, November 2024. Median values refers to the middle of valuations observed in the region. Growth rates are based on changes in the CoreLogic Home Value index, which take into account value changes across the market. Only metrics with a minimum of 20 sales observations and a low standard error on the median valuation have been included.
Cover image source: Engel Ching/Shutterstock.com
This article was reviewed by our Finance Editor Jessica Pridmore before it was updated, as part of our fact-checking process.
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