Want to rent in inner Brisbane? Forget it, unless it’s a one-bedder
TENANTS can no longer afford to rent in Brisbane’s inner city suburbs unless it’s a one-bedroom unit, a new report reveals.
The Affordable Housing Income Gap Report, released Tuesday by Compass Housing, shows the gap between the incomes of a typical renting household and the income required to avoid housing stress in the nation’s three most populated states — Queensland, NSW and Victoria.
The report found the only affordable dwelling type for typical renting households in inner Brisbane was a one-bedroom unit.
In inner Brisbane, the annual salary required to rent a three-bedroom house without experiencing housing stress is $94,987 — around $17,000 more than a typical renting household makes in a year.
Tenants looking for a two-bedroom unit in inner Brisbane need an income of $83,200, which is $5,512 more than a renting household typically makes.
The median rent for a basic two-bedroom apartment in one of Brisbane’s inner suburbs is $480 per week.
To pay that without experiencing housing stress requires an income of at least $1600 per week, which puts it beyond the reach of a typical teacher, accountant, journalist, veterinarian or IT professional, according to the report.