Brisbane is one of five capital cities where median household income comfortably exceeds median yearly rent.
While the household incomes of tenants in Hobart, Melbourne and, you guessed it, Sydney fall short compared to rental expenses, reports realestate.com.au.
How big is the rental affordability gap? Well in Sydney you’d need to earn more than $15,000 above the median income to avoid rental stress.
Check out the size of the rental affordability gap in Aussie capital cities experiencing housing stress:
- Sydney’s median household income falls short by $15,653 to avoid rental stress
- Melbourne $2,053
- Hobart $1,373
Conversely five Australian capital cities have median household incomes that exceed the amount needed to avoid rental stress.
Check out the cities where renters are having a party:
- Darwin’s median household income is $36,033 above that needed to avoid rental stress
- Perth $17,273
- Canberra $15,400
- Brisbane $5,387
- Adelaide $2,907
So if you’d been considering a move to the Top End, maybe now is the time to try it!
Want to join the rental party? Check our listings for rent.
Need a tenant? Talk to us about landlording.