The 10 most affordable suburbs to rent property in Australia

Some good news for tenants, recently reported by abc.net.au, came from Corelogic RP Data’s monthly rental report which revealed rent prices fell in all eight Australian capital cities last month, the slowest growth since the survey began 20 years ago. On average there was a 0.3 per cent decline in rents across all capital cities.

RP Data’s head of research Tim Lawless noted “Rental appreciation continues to be sluggish and can be largely attributed to the ongoing boom in dwelling construction across Australia’s capital cities accompanied by record high participation in the housing market from investors.”

Bearing this in mind and the fact that home prices are rising at a record pace, renting may not be such a bad option after all. To help in your property search we’ve put together a list profiling the ten most affordable suburbs to rent in Australia based on Corelogic RP Data from earlier this year and our suburb reviews.

Where are the 10 cheapest places to rent in Australia?

1. Newborough, VIC.

Average rent: $143 per week

Rating:  8.9/10

Great for: Families with kids, retirees, singles, country lovers, schools, safety, peace and quiet and lack of traffic.

Not so great for: – 

2. Queenstown, TAS.

Average rent: $140 per week

Rating: 6.1/10

Great for: Affordable housing, families with kids, singles, retirees, country lovers, medical facilities, peace and quiet, neighbourly spirit, parking, mountain views, parks and recreation.

Not so great for: Public transport, shopping options and nightlife.

6 Denison Street, Queenstown, TAS.

3. Millicent, SA.

Average rent: $148 per week, down from $190 pw in 2014.

Rating: 7.1/10

Great for: Cost of living, parks and recreation, schools, child care, clean and green, professionals, singles, families with kids and retirees.

Not so great for: Shopping.

1 Julie-Anne Court, Millicent, SA.

4. Moe, VIC.

Average rent: $150 per week, down from $210 pw in 2014.

Rating: 9.4/10, ranked best suburb in Gippsland.

Great for: Families with kids, singles, retirees, gay and lesbian, students, country lovers, neighbourly spirit, cost of living, internet access, parks and recreation.

Not so great for: –  

5. Zeehan, TAS.

Average rent: $153 per week.

Rating: No reviews yet.

1 Zeehan Highway, Zeehan, TAS.

 6. Rosebery, TAS.

Average rent: $150 per week.

Rating: No reviews yet.

7. Peterborough, SA.

Average rent: $150 per week.

Rating: 9.1/10

Great for: Families with kids, singles, retirees, gay and lesbian, cost of living, peace and quiet, neighbourly spirit, parks and recreation.

Not so great for: Nightlife, gym and fitness.

162 Queen Street, Peterborough, SA.

8. Ouyen, VIC.

Average rent: $160 per week.

Rating: 8.8/10

Great for: Families with kids, retirees, professionals, peace and quiet, clean and green, neighbourly spirit, affordable housing.

Not so great for: Nightlife and shopping options. 

9. Morwell, VIC.

Average rent: $165 per week.

Rating: 7.6/10

Great for: Families with kids, singles, professionals, retirees, students, peace and quiet, safety, public transport, internet access, parks and recreation.

Not so great for: shopping and has close proximity to power station.

71 Mountain Grey Circuit, Morwell, VIC.

10.  Corowa, NSW.

Average rent: $165 per week, a steep drop from $230 pw in 2014.

Rating: 7/10, ranked third best suburb in Murray.

Great for: Families with kids, retirees, country lovers, peace and quiet, cost of living, internet access, clean and green, water sports, neighbourly spirit and affordable housing.

Not so great for: Public transport and safety.

Based on this list of most affordable suburbs for renters in Australia it might be high time to consider the benefits of making a tree change. Trading the hustle and bustle of capital city living to a more affordable and quiet country lifestyle may be a good way to cut your cost of living and save for a deposit for a house of your own one day.

Happy house hunting!