Brisbane remains one of Australia’s more affordable capital cities for rental properties, but low- to moderate-income earners were still priced “frustratingly” out of the market.
The May quarter of the Rental Affordability Index, released on Wednesday, showed while overall rents continued to become more affordable for Brisbane residents, low-income earners were struggling.
The index now considers average rents across Brisbane to be “affordable”, with an RAI score of 121, compared with 2012’s score of 111, when the RAI was first introduced.
Households paying 30 per cent of their income on rent are given an RAI score of 100 – the “critical threshold level” for housing stress.
The lower the RAI score, the more expensive the rent.
The average household on an income of $80,000 seeking a rental home in central Brisbane would find central suburbs such as New Farm and Highgate Hill “unaffordable”, with rents consuming more than 30 per cent of the household income.
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