Apartment rents now cost more than half a typical single worker’s take-home pay in all Australian capital cities, report finds
Advocacy group warns of widespread housing stress as rents rise Get our breaking news email , free app or daily news podcast Renting a unit in any of Australia’s capital cities now costs a typical single worker most of their take-home pay, spurring advocates to urge Labor to offer renters more protections. New modelling shows someone earning $70,000 – close to the median annual income – would…
A new report reveals that renting an apartment in any of Australia's capital cities now consumes more than half of a typical single worker's take-home pay, raising concerns of widespread housing stress. Advocacy group Everybody's Home, which published the analysis in its "Priced Out" report, urges Labor to provide renters with more protections.
The analysis shows a single person earning the median annual income of $70,000 would need to spend two-thirds of their earnings on rent for a median Sydney apartment. Renters in Adelaide, the report found, still spend over 50% of their pay on rent, while in Sydney, it would cost nearly 70%. Housing stress is defined as spending over 30% of household income on housing, and with low-income earners, this issue is not new but has been worsening for years.
Even a person earning $130,000 would have to spend 40% of their income on the median Sydney rental. The report calls for limits on rent increases, new minimum standards for rental properties, and a rapid construction of new social housing to help people afford to rent.
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