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Sydney Rental Market: Seeking the Most Affordable Areas
Sydney Rental Market: Seeking the Most Affordable Areas Sydney
By   Internet
  • City News
  • Sydney rents
  • housing affordability
  • suburban prices
  • renters
Abstract: Despite the relatively high rental prices in Sydney, there are still relatively affordable rental options in areas like Blacktown, suitable for tenants on a limited budget. However, assessing rental affordability requires considering multiple factors to accurately determine whether the rent aligns with individual financial capabilities.

Renting in Sydney has always been a topic of concern, especially for struggling tenants who find the high rents daunting. However, in this densely populated city, there are still some places where relatively affordable rents can be found.


According to analysis by Atom Go Tian, Senior Data Analyst at Ray White, the affordability of rents varies across Sydney and its surrounding areas. Over the past 12 months, Blacktown in Western Sydney has been one of the most affordable areas for tenants, with a median rent for its 158 rental listings below $550 AUD, with most below the $500 AUD per week mark. Additionally, Campbelltown and St Marys are also areas with relatively low rents, with a large number of listings available for rent below $500 AUD.


Sydney Rental Market: Seeking the Most Affordable Areas

realestate.com.au


However, assessing rental affordability is not straightforward, as each family's economic situation is different. Go Tian points out that determining whether a rent is affordable cannot simply be based on the rent itself; one must also consider the household's income level. According to his analysis, if the proportion of weekly rent to total income is kept between 33% to 35%, then the weekly rent should be between $475 AUD to $500 AUD, which would more accurately reflect whether the rent is affordable.


Sydney Rental Market: Seeking the Most Affordable Areas

realestate.com.au


In addition to Blacktown, areas like Umina Beach, Gorokan, Toukley, and Wyee on the Central Coast also offer relatively affordable rents. While these areas may not be located in the city center, they still have a certain advantage in terms of rental prices.


Furthermore, while Sydney is not the most affordable city for renters nationwide, it is also not the most expensive. According to Go Tian, nationally, Hobart is one of the most affordable cities for renters, while Sydney and the Gold Coast are relatively less affordable.

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Sydney Rental Market: Seeking the Most Affordable Areas
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