Property - 16 Mar, 2020

What are Sydney’s cheapest suburbs for rent?

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If you’ve been to countless auctions and left disappointed by every home or apartment selling for a price that surpasses your budget, new data released by CoreLogic has revealed that you could be able to score your dream property by opting to rent. 

Anyone who has tried to buy a house in Sydney in recent years will be familiar with the struggle of trying to secure a home at an affordable price that won’t leave you indebted for life. Not only is it competitive, but it is also extremely expensive. With house prices in Sydney skyrocketing, it’s important to look at alternatives such as renting so that you can ease the strain on your wallet.   

Why should you rent? 

One of the most common misconceptions is that renting is only for students and young couples. Statistics show that renting is actually growing in popularity amongst Australians of all ages, with 32% of all Australian households belonging to renters. This is a 2% increase from 2015-2016 where the figure sat at 30%.

The main feature that has been attracting Australians to renting is the fact that you you don’t have to stress about as saving up for a deposit on a house. The only upfront costs you may have to pay might be a bond for the first couple of weeks. 

Sydney is also changing rapidly. One minute you might be living in a quiet suburban area, but the next minute you might find that it is congested, overpopulated and your house is overshadowed by a newly built high-rise. The short-term nature of renting will mean that once your lease is up, you can choose to move where-ever you like. 

While the lack of stability, having to stick to your landlords house rules and the obligation to regularly pay rent may at face value seem like a huge challenge, if you choose to rent in cheap areas you will be able to enjoy your savings instead of having it consumed by your home loan.

 Take a look at these suburbs where you could be able to rent out a home for just a few hundred dollars a week: 

Related: What does rental growth yield mean and how does it affect capital growth?

Top 5 Sydney suburbs that are cheapest to rent a house  

Blackett 

Median Rent per Week: $340

Located 47km from the CBD, Blackett’s main advantage is its close proximity to the M4 motorway and Great Western Highway which will give you easy access to the city. The suburb is also accessible by bus or the nearby train stations of Mount Druitt and St Marys. The suburb is highly residential with 89.6% of private dwellings being houses, so there will be plenty of homes for you to choose from. 

Lethbridge Park 

Median Rent per Week: $340

Closeby to Blackett is Lethbridge Park which is located in the LGA of Blacktown. 45.4% of those living in the area are families with children, so if you’re a family looking for a home then Lethbridge Park may be for you. The area is also highly multicultural with over 40.4% of the population having been born overseas. 

Whalan 

Median Rent per Week: $350

Once again, the Blacktown LGA is able to boast another suburb that is cheap to rent. Whalan offers a mixture of greenery, parks and reserves as well as residential areas. The main reserve in Whalan has four soccer fields and football fields that is perfect for kids and families. In addition to this, residents can enjoy being close to the Mount Druitt Westfield Shopping Centre as well as various primary schools in the area. 

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Tregear 

Median Rent per Week: $350

Tregear is within the same Blacktown Local Government area and is 41km away from the Sydney CBD. While the area only has a few shops and a couple of schools, residents often praise the fact that everything is within walking distance as well as the cultural diversity of the area. The humble and quiet suburb of Tregear has a great rental value, with the median rent per week being just $350, while the median price for a house being $430,000. 

Budgewoi

Median Rent per Week: $365

Waterfront living doesn’t have to be expensive and Budgewoi stands testament to this Located on the Central Coast, you may be able to rent a lakeside home that is only a train ride away from Sydney’s CBD for just $365. If you’re a regular beachgoer, Budgewoi Beach is a popular spot amongst locals that has views of Norah Head Lighthouse as well as Bird Island and is perfect for walks.  

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Top 5 Sydney Suburbs where it is cheaper to rent an apartment 

Gorokan 

Median Rent per Week: $330

It’s surprising that only 35% of residents are renters in Gorokan considering the low rent price of $330 for an apartment. With a population of only around 8000, the suburb overlooks Lake Tuggerah. This quiet coastal town is home to mainly retirees and holiday homeowners who are able to enjoy swimming, fishing and surfing the in neighbouring lakes and patrolled beaches.

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Stay calm and kind.

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Toukley 

Median Rent per Week: $332

Opposite to Gorokan is the lakeside town of Toukley. 12.9% of residents in Toukley are elderly singles and 12.5% are elderly couples, so consider Toukley if you’re looking for a retirement getaway. The suburb in situated in between Tuggerah Lake and Budgewoi Lake, and you will find that many of the properties in this area are able to offer picturesque lake views or better yet will be located right on the lakeside. 

Cabramatta 

Median Rent per Week: $340

Cabramatta is culturally rich with its large Vietnamese-Australian and Chinese-Australian population. It is often considered a go-to spot for Asian cuisine and is Australia’s largest non-anglo celtic commercial precinct. Just 30 km from Sydney’s CBD, Cabramatta lies on the Inner West and Southern Train lines and will be able to offer convenience in addition to its rich culture. 

Leumeah 

Median Rent per Week: $340

Leumeah is a burgeoning suburb In Sydney’s South West LGA of Campbelltown. While the suburb is approximately an hour away from Sydney’s CBD by train, the suburb is greener than areas close to the city and has been described by residents as “quiet and peaceful.” The area is ideal for families, with the 21.6% suburb’s population consisting of established couples and families. 

Canley Value

Median Rent per Week: $350

Canley Vale is easily accessible by train and offers a variety of restaurants, cafes as well as close by leisure centres and gyms.  In addition to this, there are a range of public primary and high schools in the area such as Canley Vale High School and Lansvale Public School.  It’s close proximity to the Fairfield CBD, as well as the ease of access to the Sydney CBD and the variety of amenities available is what makes Canley Vale an attractive area to rent. 

Words by Vidya Kathirgamalingam

Whether you are buying, selling or switching to renting, be sure to contact eChoice today. Our brokers have access to a range of products that can help you manage your home loan.

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This information is a guide only and is an estimate only based on the past 12 months of aggregated online mortgage enquiries from eChoice and partner programs.

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