Average Australian Needs to Earn Over $130,000 a Year to Rent a Typical Home Without Stress: Report

The start reality of renting in Australia has been laid bare as new data sheds light on a glaring lack of affordability.

A 'For Lease' sign is seen at the front of a new house in Sydney, Australia, on Jan. 11, 2024. Jenny Evans/Getty Images

A new report has revealed the extent of the cost of renting in Australia, with costs leaving many people with little left over for food, utilities, and transport.

The Everybody’s Home report found that when average rents are considered, most people would need to earn a gross income of more than $130,000 a year for rent to be within the internationally accepted benchmark of 30 percent of income.