Newcastle and Hunter rental affordability revealed in Compass Housing report

News | Aug 22, 2018

THE Upper Hunter local government area has been deemed the state’s most affordable for renters in a new report comparing incomes and rental rates to measure housing stress.

Compass Housing will today release the Affordable Housing Income Gap Report, which measures how much extra the typical renting household needs to dodge housing stress.

Tenants in Scone and surrounds pay a median of 20 per cent of their income as rent, beating Queanbeyan’s 24 per cent to be the state’s lowest rate.

Residents in the Upper Hunter would need to make $833 a week to comfortably match the median rent of $250, putting the area’s median household income of $1223 substantially ahead of the prices. The report pegs the gap between incomes and rents as -$390.

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