Brighter And some

Inner city renting out of reach for most

by Kate Watt, Marketing Manager 19 September 2018

Tenants can no longer afford to rent in Brisbane’s inner city suburbs, unless it’s a one-bedroom unit, according to a new report.

The Affordable Housing Income Gap Report reveals the gap between the incomes of a typical renting household and the income required to avoid housing stress.

In inner Brisbane, the annual salary required to rent a three-bedroom house without experiencing housing stress is $94,987 – about $17,000 more than a typical renting household makes in one year.

Tenants looking for a two-bedroom unit in inner Brisbane need an income of $83,200, which is $5512 more than a renting household typically makes. The median rent for a basic two-bedroom apartment in one of Brisbane’s inner suburbs is $480 per week.

These kinds of finances put renting in the inner city out of the reach of the typical teacher, accountant, journalist, vet or IT professional.

The least affordable postcode to rent a home in Brisbane is 4037 – taking in the Moreton Bay suburb of Eatons Hill – where the average weekly rent is $510.

The most affordable postcode to rent in greater Brisbane is 4184 – taking in the suburbs of Russell Island, Lamb Island and Amity Point. The suburb of Nathan, home to Griffith University, is also one of the cheapest places to rent, with the average weekly rent coming in at $250.

Five least affordable postcodes to rent in greater Brisbane:

  • 4037 Eatons Hill
  • 4520 Samford
  • 4035 Albany Creek
  • 4055 Ferny Grove
  • 4069 Brookfield

Looking for somewhere to rent? Contact our team or browse our listings for rent.