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The best suburbs to rent for under $350 a week

Eliza Bavin
·Personal Finance Editor
·2-min read
A sign out the front of a home that was for rent but has a sticker on it to indicate it has been leased and the roofs of houses and the CBD in the background.
Renters are feeling the pressure as the cost of living rises but there are still some suburbs where housing is affordable. (Source: Getty)

Australia’s rent prices are rising with Aussies feeling the burn from the growing cost of living, but there are still some suburbs where you can bag a bargain.

New research commissioned by HOOD.ai found Australia’s top 10 rental markets in Australia for tenants on average salaries.

The report identified suburbs that struck a balance between being affordable and desirable.

As a result, the research process filtered out suburbs that were more than 100km from a capital city CBD.

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Suburbs were also excluded if they had a low socio-economic status, as measured by having a SEIFA socio-economic score of less than 5.

For the top 10 rental markets, median weekly rents ranged from $285 to $330, while household incomes ranged from $1,135 to $1,816 a week.

HOOD.ai founder and CEO Tommy Fraser said housing affordability was a hot-button political issue that was getting a lot of attention in the federal election campaign.

“It’s no wonder both sides of politics are talking about affordability, because the housing market is a tough place right now for people on average salaries,” Fraser said.

“Tenants are faced with very low vacancy rates in many parts of the country. So this latest report is really timely.”

Suburbs in Victoria dominated the list, taking five of the top 10 spots.

Meanwhile, not a single suburb in New South Wales made the list.

Here are the top 10 suburbs for renters for under $350 a week.

  1. Caulfield East. VIC - $285 per week

  2. Gardenvale, VIC - $290 per week

  3. Kingsville, VIC - $300 per week

  4. Plympton, SA - $320 per week

  5. Camden Park, SA - $320 per week

  6. Manifold Heights, VIC - $320 per week

  7. Glenelg North, SA - $325 per week

  8. Heatherton, VIC - $325 per week

  9. Wembley, WA - $330 per week

  10. Osborne Park, WA - $330 per week

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