How Much Rent Can You Afford?
Before you begin your hunt for a good place to rent, it's crucial to figure out how much rent you can actually afford. You should also understand the costs that are involved, not just the rent. Also, keep yourself updated with what people typically pay for rent in different parts of Australia, as this helps you to judge if a property is priced fairly or it's too expensive for the area.
The Short Answer
As per the common guidelines, your rent shouldn't be more than about 30% of your income before tax. For instance, if you earn $1,000 a week before tax, your rent should not be more than about $300 a week. However, the rent isn't the only price you have to pay while moving into a new place; you also have to pay a bond/security deposit, 2-3 weeks' rent in advance. So basically, you will usually need 6 weeks' worth of rent saved up before moving into a new rental property. So ensure you have enough money to cover the initial costs apart from your regular budget for weekly or monthly rent payments. With our guide, you can plan one step and avoid any financial stress.
Rent Affordability Calculator
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At or below 30% is generally considered affordable.
Affordable rent
$519
per week
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Average Rent by City
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Median house (weekly)
$780
Median unit (weekly)
$680
Indicative weekly asking rents, mid-2026, for illustration. For live suburb-level rents see our market data pages. Rents change constantly — confirm current figures.
What Renting Really Costs
Rent is Just One Aspect. Explore the Complete Scenario
- ➔The 30% guide is a generic point, not a universal rule. If you have high earnings, you can definitely raise the bar higher than 30%.
- ➔Calculate all the fixed costs before you set your limit and count all household income.
- ➔It's a smart decision to keep aside a buffer amount in case of a rent increase at renewal.
The Details, Expanded
Click on the Section for Full Explanations
If you fall under the category of low-income households then you can follow the 30% rule while renting a house. If your rent goes beyond 30% of your gross income, then the rent would be defined as rental stress. However, it's a guide and not a hard limit; you can go above and beyond the 30% rule as per your will. What actually matters is whether rent plus your other costs leave enough for you to live your life comfortably and save. You can use our calculator to find out.
FAQs about the Cost of Renting
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