Most Affordable Cities

Tuesday 02 Feb 2021

Findings from the annual rental affordability index (RAI) report were released recently, and though affordability had improved, with rental prices dropping in most cities, the report found rent still puts a huge strain on budgets for low-income earners in each of Australia's main cities. 


Perth was found to be Australia's most affordable city for renters in the current climate, with Melbourne coming in a close second. Rents fell dramatically in greater Melbourne, greater Brisbane and greater Hobart; though the latter remains Australia's most unaffordable city, due to generally lower than average household incomes and reduced supply of rental properties. Adelaide comes in at a close 2nd for unaffordability for the same reasons. 


With the general consensus being that rent should be no more than 30% of overall household income, and a general lack of affordable social housing nationally, the situation for many became particularly dire during the pandemic. Job losses were quickly buffered with government payments, though many have been affected by incremental decreases to JobSeeker payments


If you're looking to relocate right now, with affordable rent as your motivating factor, Melbourne must surely hold the winning ticket - especially with the Victorian Government's Big Housing Build announced in November.