Itqualityassurance
HUD's rental affordability index measures whether a typical renter household has enough income to qualify for a lease on a typical rental home at the national level.
Why is housing affordability an issue in Australia?
Affordability is important for both Australians wanting to buy a home and for those renting. Many factors influence the supply, demand and cost of housing across the country, including Australia's growing and ageing population and government policies (AIHW 2021; Burke et al. 2020; Gurran et al. 2021).
How much can I afford to rent Australia?
Many renters like to rely on the 30% rule, which means a maximum of 30% of your income goes to rent. An ideal amount is about 20%, but 25% is also a good target to aim for. However, this isn't always feasible on a low income, as average rents in your chosen area may well be above 30% of what you're earning.
