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The Most Affordable Suburbs to Rent in Australia 2025
Where will you pay the cheapest rent in Australia? Here’s how the state capitals compare as well as which of their suburbs are the most affordable.
20 Jan 2025
Where will you pay the cheapest rent in Australia? Here’s how the state capitals compare as well as which of their suburbs are the most affordable.
National median weekly rents have only risen 0.4% for the November 2024 quarter according to the latest CoreLogic figures. Median rent across all Australian dwellings have still hit a record high of $644 per week, while the state capitals only saw marginally rental growth for the quarter.
The cheapest rent in Australia is currently $425 per week for houses and $374 per week for units. We look at the cheapest cities and suburbs to rent in Australia and at the state capitals where you can expect to pay more.
What’s the average rent cost in Australia?
When deciding on a rental agreement, the cost can be a big factor. The median rent across Australia is currently $644 per week, according to the latest CoreLogic data. In capital cities, it’s $675 per week, while the regional areas are over $100 cheaper at $559.
Nationally, rents rose 4.7% in the year to date, a far cry from the surging rental growths of the previous year. This may be due to affordability concerns, a decrease in net overseas migration and an increase in investor activity and property supply according to CoreLogic.
Here we break down the latest rent price results from CoreLogic for Australia’s capital cities, as well as look at some of their most affordable suburbs. So what city and suburbs have the cheapest rent in Australia?
Where are the cheapest cities to rent in Australia?
Taking out the top spot with the cheapest rent in Australia—among our capital cities at least—is in Hobart, Tasmania. It currently has a median rent that is $220 cheaper than the most expensive capital city, Sydney.
Below, capital cities are listed from the cheapest overall median rental prices to the most expensive, as calculated by CoreLogic.
1. Hobart: $556 per week
If you’re in search of the cheapest rent in Australia, Hobart takes out top billing across the state capitals. According to CoreLogic, the median weekly rent in Hobart has gone up 5.5% over the past year to $556. The most affordable suburb for houses is the riverside township of New Norfolk at $481 per week, and for units it’s Glenorchy at $448.
2. Melbourne: $606 per week
In the past 12 months, the median rent in Melbourne for all dwelling types has gone up 4.5% to $606 per week. One of Melbourne’s satellite cities, Melton, is the most affordable Australian suburb for houses at $425 per week. For units, Melton South is the cheapest for Melbourne at $380 per week. For a more comprehensive list of affordable Melbourne suburbs to rent, it might be worth checking out this article.
3. Adelaide: $610 per week
The median weekly rent in Adelaide jumped 6.4% over the past year to $610. Its most affordable suburbs for both houses and units can be found north of the city, being Elizabeth North at $467 per week for houses, and Salisbury at $438 for units.
4. Darwin: $642 per week
Median weekly rent values in Darwin have gone up 2.9% over the past year to $642 per week across all dwelling types. Its most affordable suburbs for both houses and units can be found in the satellite city of Palmerston. For houses, Moulden was cheapest at $543 per week, and for units, Gray was cheapest at $476.
5. Brisbane: $657 per week
According to CoreLogic, median weekly rent in Brisbane has risen 3.1% over the past year to $657. Russell Island, the biggest of the southern Moreton Bay islands, is Brisbane’s most affordable suburb for houses at $439 per week. For units, Booval in the nearby city of Ipswich, was most affordable at $374 per week, making it currently the cheapest suburb for rent in Australia.
6. Canberra: $663 per week
Canberra dropped from the second-most expensive capital city for renters in Australia to the third, with a median weekly rent of $663. This is up 1.9% year-on-year, which is actually the lowest increase across the state capitals. The most affordable suburb for houses is the northern suburb of Belconnen at $571 per week, and for units it’s Lyons in the district of Woden at $471 per week.
7. Perth: $693 per week
According to CoreLogic, Perth’s median weekly rent increased 7.6% over the past year—the biggest increase nationally—to $693. The southern parts of Perth are where you’ll find the most affordable suburbs. The satellite city of Mandurah is the most affordable for houses at $528 per week, whereas the suburb of Orelia, in Perth’s south west, is most affordable for units at $456.
8. Sydney: $776 per week
Sydney continues to be the nation’s most expensive capital city for renters. It has a median weekly rent of $776, up 3.4% over the past year. Sydney’s western suburbs of Tregear and Carramar were the most affordable for houses and units, $535 and $441 per week respectively. For a more comprehensive list of affordable Sydney suburbs to rent, it might be worth checking out this article.
Source: CoreLogic, November 2024. Median value refers to the 50th percentile of valuation estimates observed in the region. Median weekly rental value refers to the 50th percentile of rental valuation observed in the region. Growth rates are based on changes in the CoreLogic Rental Value index, which take into account value changes across the market. Only metrics with a minimum of 20 rental observations and a low standard error on the median values have been included.
Rent or buy in Australia: how does renting compare to home ownership?
CoreLogic’s latest figures show the median weekly rent across Australia as $644 per week. How does this stack up against home ownership?
Canstar found the average mortgage repayments for an established home across Australia are about $4,199 per month (or $1,050 per week). This is in addition to any fees that a lender may charge and assumes that the interest rate stays the same over that time.
While this example shows weekly mortgage repayments can be higher than the median weekly rent, it’s important to note that this doesn’t take into account all home ownership and renting variables. It’s also worth mentioning that CoreLogic’s data shows that median weekly rents continue to grow, especially in metropolitan areas. That being said, the growth seems to be at a slower pace than the previous year.
As everyone’s circumstances are different, it’s important to consider whether home ownership or renting is the better option for you. This will depend on your situation, including how much you would need to borrow to buy a home and where you live.
Owner occupied
20% min deposit
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Owner occupied
20% min deposit
Redraw facility
Owner occupied
10% min deposit
Redraw facility
Owner occupied
20% min deposit
Redraw facility
Cover image source: Ground Picture/Shutterstock.com
This article was reviewed by our Finance Editor Jessica Pridmore before it was updated, as part of our fact-checking process.
Owner occupied
20% min deposit
Redraw facility
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