Homely report: The Top 50 Most Affordable Places to Live in Australia 2024

The Homely Team
most affordable house
5 min read

Looking for the best and most budget-friendly places to settle down in Australia? We’ve released our first edition of the 50 Most Affordable Places to Live in Australia, according to our Homely users. 

Homely’s hyperlocal suburb and street reviews as well as local discussion forums provide an in-depth look at cities, suburbs, and towns across the nation, as reviewed by the people who actually live there. This data explores various facets, from cost of living and housing prices to community attributes and local amenities, like parks, schools and suburb friendliness. In addition to this valuable qualitative data, Homely also provides median house prices on suburbs, which can be useful in comparing possible purchase prices as well as potential rental yields. 

The area topping our list this year is surprisingly interesting and very budget-friendly, where you can pick up a 3-bed family home for around $300,000. Situated in the rugged west of Tassie with plenty of community activities and a welcoming, friendly vibe, Queenstown is fast becoming a highly attractive area for people looking to own a home in a quaint suburb in beautiful surroundings. Locals in Queenstown like Emmap28 say, “​​Queenstown is a beautiful small little town that has a variety of businesses to make life still enjoyable. Whilst the lifestyle is relaxed, businesses are still growing and strong.” You can read more local suburb reviews here.

Other notable highlights include Davoren Park near Adelaide, which locals consider a more affordable version of North Adelaide. Offering a perfect blend of affordability and quality lifestyle with all the amenities of Adelaide, it’s a hit among astute investors and savvy young families. Homely user Pistol says, “It is the undiscovered gem of the inner city suburbs. My advice is get in now before the secret is out.”

While median house prices around the $1m mark aren’t necessarily affordable to everyone, Homely locals have rated a handful of suburbs as relatively more affordable when compared to blue chip neighbours based on high quality lifestyle factors, amenities and access. A great example of this is Southport, Gold Coast, which has a median house price of $902,500 versus Surfers Paradise, which has a median price of $1.9m. Homely user Justin says “Lived on GC 20 yrs moved to Southport 3yrs ago due to excellent public transport, close to shops and broadwater. Everything is in Southport. Cheap to buy in comparison to other suburbs.”

In this report, we have collated median house prices using a range of trusted data sources^, as well as Homely user data gleaned from millions of suburb reviews, which serve as a a crucial tool for prospective homebuyers and real estate investors alike. So read on for the full list of the top 50, or discover what locals are saying about places you’re interested in on Homely. 

Homely’s top 50 most affordable suburbs for 2024

  1. Queenstown, TAS – Offers mountain views and a quiet lifestyle. Median price: $187,500. “So much potential, great affordable housing.”
  2. Mount Johns, NT – Located in Alice Springs, offers a serene desert environment with modern amenities. Median unit price: $218,750.
  3. Port Augusta – Most affordable with redevelopment potential. Median house price: $220,000. ““At the crossroads of great Australian adventures + very affordable living”
  4. Zeehan, TAS – Known for its mining heritage and quiet, remote lifestyle. Median price: $220,000.
  5. Ingham, QLD – Offers a peaceful lifestyle with sugar cane fields and proximity to tropical beaches. Median price: $222,500.
  6. Katanning, WA – Centrally located in the Great Southern region, known for its multicultural community and agricultural industry. Median price: $237,500.
  7. Morwell, VIC – Offers good public transport and recreational spaces. Median price: $330,000.
  8. Kalgoorlie, WA – Historic mining town with strong community. Median price: $347,000.
  9. Moe, VIC – Known for community spirit and affordability. Median price: $355,000. ““I’ve finally found an affordable home in a safe town”
  10. Kadina – Quiet life with access to services. Median price: $370,000.
  11. Davoren Park, SA – Known for its convenience without the price tag. Median house price: $382,750.
  12. Maryborough, QLD – Rich in history with affordable housing and a strong community feel. Median price: $385,000.
  13. Horsham, VIC – Known as a vibrant community hub in the Wimmera region with good amenities. Median price: $391,000.
  14. Murray Bridge, SA – Good growth potential, community-oriented. Median price: $400,000.
  15. Mount Gambier, SA – Affordable with a strong community focus. Median price: $415,000.
  16. Newborough – Appreciated for its family-friendly and peaceful environment. Median price: $420,000.
  17. Esperance, WA – Coastal town with scenic views and amenities. Median price: $445,000.
  18. Shepparton, VIC – Offers affordability with strong community vibes. Median price: $447,000.
  19. Bundaberg East – Low cost of living with good amenities. Median price: $460,000.
  20. Corio – Affordable with good growth potential. Median price: $480,000.
  21. Newtown, QLD – Offers good value for money. Median price: $485,000.
  22. Woodridge, QLD – Family-friendly with parks and recreation. Median price: $505,000.
  23. Traralgon, VIC – Known for its family-friendly environment. Median price: $505,000.
  24. Norman Gardens – Quiet suburb with growth potential. Median price: $505,000.
  25. Taree, NSW – Set on the Manning River with affordable homes and a slow-paced lifestyle. Median price: $505,000.
  26. Flora Hill – Popular among students and academics. Median price: $520,000.
  27. Rockingham, WA – Popular for dining and safe living. Median price: $532,000.
  28. Hackham – Family-friendly with parks and recreation. Median price: $535,750.
  29. Gawler, SA – Offers historic charm and growing amenities. Median price: $560,000.
  30. Centenary Heights – Affordable suburban lifestyle. Median price: $570,000.
  31. St Albans Park – Growing appeal among families. Median price: $590,000.
  32. Warrnambool – Coastal living with a growing market. Median price: $591,000.
  33. Broome – Strong growth, unique lifestyle. Median price: $610,000.
  34. Encounter Bay – Quiet, coastal lifestyle. Median price: $612,000.
  35. Pooraka – Offers good public transport and affordable living. Median price: $617,500.
  36. Madeley – Known for schools and green spaces. Median price: $670,000.
  37. Lang Lang, VIC – Praised for its beautiful scenery, community-friendly atmosphere, and affordable housing options. Median price: $672,500.
  38. Frankston, VIC – Offers a vibrant beach lifestyle with good amenities. Median price: $740,000.
  39. North Haven, SA – Known for its safe and quiet environment. Median price: $748,500.
  40. Kyneton – Combines country charm with community feel. Median price: $787,500.
  41. Elermore Vale, NSW – Family-friendly with access to Newcastle amenities. Median price: $818,250.
  42. Rainbow Beach, QLD – Offers peace and quiet with clean, green landscapes. Median price: $850,000.
  43. Little Mountain – Great for outdoor lifestyles. Median price: $890,650.
  44. Penrith, NSW – A bustling suburb in Greater Western Sydney, perfect for families $897,500
  45. Florey – Known for great schools and family living. Median price: $900,000.
  46. Oxley Park, NSW – Known for its neighborly spirit and access to parks. Median price: $902,500.
  47. Southport, QLD – Balances suburban comfort with city access. Median price: $902,500.
  48. Dundowran Beach – Beach proximity and quiet living. Median price: $975,000.
  49. Flinders View, QLD – Known for its family-friendly environment and green spaces. Median price: $1,000,000.
  50. Wynnum, QLD – Coastal suburb with great amenities and lifestyle. Median price: $1,050,000.Properties in Wynnum are still remarkably affordable compared to bayside suburbs in other major Australian cities. It’s almost like Brisbane hasnt realised the value of property close to the sea.” Andym11

Whether you’re looking to move to a vibrant city or a serene suburb, Homely’s 2024 report provides all the information you need to make a well-informed decision that suits your budget and lifestyle. Explore detailed profiles on Homely to discover where your next home could be in this ever-evolving Australian real estate market.

 

 

^Median house price data gathered from multiple sources including National Property Data Group and licensed Corelogic data providers. All qualitative data mined via Homely’s unique street and suburb review content, including millions of pieces of individual, user generated comments from real locals and local real estate agents. 

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The Homely Team
The Homely Team bring you the latest in Aus property ranging from tips on buying, selling, renting, investing, building, moving house, suburb information and agent advice, all from industry experts.

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