Most affordable rental suburbs of 2024 revealed

January is the busiest month of the year for renters, with listings reaching a 12-month high and more renters actively seeking new homes.

However, in spite of the abundance of listings, the search for affordable rental properties remains challenging for many.

Across most regions and capital cities, median weekly rents are at an all-time high, making it increasingly difficult for renters to find affordably priced homes.

In December, the national median weekly rental price stood at $620, marking a significant increase of 7.8% over the past 12 months and a 10.5% rise over the past five years.

The highest rents continue to be in the larger capital cities, with Sydney taking the lead at a steep $730 per week.

In contrast, the cheapest rents are found in regional areas.

Renters can get a two-bed house for $270 per week in Queenstown, Tasmania. Image: realestate.com.au

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For instance, Whyalla Stuart in South Australia's outback claims the title of the most affordable rental suburb in the country, with a median house rent of just $280.

While Whyalla might seem remote, located over a four-hour drive from Adelaide, it is a sizable city thriving with manufacturing companies, especially in the steel and iron industries.

Other regional suburbs also offer affordable housing, including Queenstown in Tasmania with a median house rent of $295, while both Nebo, in Queensland, and Port Augusta, in South Australia, follow closely at $300 per week.

Cheapest suburbs for renting a house

Whyalla Norrie, another South Australian outback locality, matches this affordability with a similar median weekly rent.

For units, Cobar in New South Wales stands out with median rents at an exceptionally low $200.

This affordability extends within the state, with Deniliquin and Glen Innes offering units at $220 and $225, respectively.

Cheapest suburbs for renting a unit

Further options include Cowra at $233 and Broken Hill at $240, catering to those looking for budget-friendly unit rentals in NSW's regional areas.

Surprisingly, even within the boundaries of Australia's bustling capital cities, pockets of affordability exist.

In Greater Brisbane, Russell Island offers house rentals at a mere $400 weekly.

Cheapest capital city suburbs for renting a house

Similar affordability can be found in Melton, which hosts both the cheapest houses and units in Greater Melbourne at $400 and $360, respectively.

Meanwhile, Gagebrook in Greater Hobart lists houses at $433, while New Norfolk offers units at $390.

Renters can live in a house on the beautiful Russell Island in Queensland for around $400 per week. Image: realestate.com.au.

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In Perth, Calista provides an economical option for house renters at $480, whereas Shoalwater presents unit rentals at $410.

Cheapest capital city suburbs for renting a unit

Sydney's affordable rental scene features Willmot for houses at $450 and South Granville for units at $360, showing that even within the nation's most expensive city, more affordable options are available for the savvy renter.

Whether considering a move to Australia's regional heartlands or scouting for a home in its capital cities, knowing where to find affordable properties can help renters navigate the unpredictable rental market and secure more accessible housing options.