Cheapest places to rent in NSW 2022

Sydney life is expensive and finding cheap rooms to rent within 10km of the CBD isn’t easy. But look around and you’ll find locations that will put you within a stone’s throw of the action, without breaking the bank.

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Sydney life is expensive and finding cheap rooms to rent within 10km of the CBD isn’t easy. But look around and you’ll find locations that will put you within a stone’s throw of the action, without breaking the bank.
CROYDON PARK
Where is the cheapest place to live in NSW?
What is the average rent in Australia 2022?
Where is the cheapest place to rent to live?
What city has the cheapest houses to rent?

Flatmates.com.au has run new data on suburb rental prices. Over the coming weeks we’ll be bringing you articles on the cheapest and most expensive suburbs to rent a private room in a share house in each capital city. If you’re a Sydney kid, check out the five cheapest suburbs within 10km of Sydney’s CBD below.

CROYDON PARK

Distance: 10km from the CBD
Rent average: $220/week private room

Renters have well and truly woken up to the lifestyle and amenities on offer in Sydney’s inner west, but if you’re thrifty and find the right suburb, there’s still plenty of value to be had.

Croydon Park fits that bill perfectly, with its $220 average price tag for a room in a share house on our site, marking it as the cheapest suburb to rent within 10km of the city.

You get plenty for your money in this vibrant village-like community that’s well supplied with great shops, parks and multicultural food options. Croydon Park is quickly being snapped up by investors for it’s large supply of sought-after period homes and terraces, so be quick on this one, it won’t stay cheap forever.

EARLWOOD

Distance: 10km from the CBD
Rent average: $220/week private room

Earlwood is only a couple of suburbs to the south and positioned on the banks of the Cooks River. This little suburb has heaps going for it. It’s cheap, convenient and situated in perfect share house territory.

Something of a well-kept secret among its more credentialed neighbouring suburbs (Marrickville and Dulwich Hill we’re looking at you), Earlwood has some of the best public transport access in Sydney, with its borders bookended by two train lines, making CBD access a cinch.

Well-serviced for retail, the suburb has a Coles supermarket, shopping strip and eateries on and around popular Homer Street, while parks, gardens and pubs are a plenty.

EASTLAKES

Distance: 7km from the CBD
Rent average: $230/week private room

Eastlakes cops its fair share of flak for being almost directly under Sydney Airport’s flight path, but when it comes to value for money, it’s understandably a rental hotspot.

Of the suburbs to feature in our ‘cheapest’ list, Eastlakes is by far the closest to the CBD and has become a beacon for young renters, with almost a quarter of residents falling into that demographic.

It’s also renowned for its larger homes and block sizes – if you’ve got a pooch or consider yourself a green thumb, most share houses in this suburb come with a yard, all at an affordable price.

Close to the M1 and the airport and home to Eastlakes Shopping Centre, many residents love the area because it’s only a short distance from South Coogee Beach, but without the South Coogee price tag (average $320 per week).

TEMPE

Distance: 8km from the CBD
Rent average: $230/week private room

Another affordable inner west option, Tempe might be close to the airport, but at least being so close to the airpot is great inspo for that next holiday.

You won’t have to search far to furnish your new share house room – Tempe is where you’ll find IKEA, along with a host of other major retailers.

You’ll also find a train station and given it’s only 8km from the city and even less to Sydney Uni, it’s an increasingly sought-after choice among both workers and students.

CONCORD

Distance: 10km from the CBD
Rent average: $240/week private room

Suburbs along the Parramatta River continue to see hot demand, and yet Concord also ticks the affordability box.

You’d be hard-pressed to find another suburb with so many amenities at an average rent of under $250.

Just 10km from the CBD, it’s got transport on many fronts, with trains, buses and ferries all readily accessible, while sports-loving residents will have a field day (pardon the pun), considering it abuts the Sydney Olympic Park Precinct, which includes ANZ Stadium, Qudos Bank Arena and Quaycentre.

You’ll also find Costco, Aldi, DFO Homebush, Woolworths and Coles among the vast array of retail options in the immediate area.

Sydney may be one of the world’s most unaffordable cities, but it is possible to live close to the CBD on an affordable rent. Happy hunting!

CoreLogic’s Quarterly Rental Review for Rental Q1 2022 revealed the most expensive and cheapest suburbs to rent houses and units in Australia’s capital cities.

The report also noted that national unit rents climbed at a quicker rate than national house rents, at 3 per cent and 2.4 per cent, respectively, breaking the trend seen since May 2019, with both sectors recording an increase in the pace of quarterly rental growth.

However, on an annual basis, houses (9 per cent) continue to beat units (8 per cent) despite the recent increase in unit rents.

Looking at the capital cities, Canberra remains as the most expensive capital city rental market. According to CoreLogic data, renting in the ACT costs $674 a week, on average – significantly higher than the national median rent of $509 per week.

Sydney was the second-most expensive city at $621 per week, followed by Darwin, where a rental property costs $559 a week, Hobart at $532 a week, Brisbane at $523 per week, and PerthPerth, TAS Perth, WA at $496 a week.

Melbourne was tagged as the second-cheapest rental market, with a typical dwelling costing renters $468 a week, on average.

Adelaide has the accolade of being the most affordable capital city to rent in, with weekly rates averaging $464.

“Eased international travel restrictions are likely to be a catalyst for continued growth in the rental market, as overseas arrivals such as international students and long term migrants are typically renters when they first come to Australia,” CoreLogic head of research Eliza Owen said.

Here are the most expensive and affordable places to rent houses and units in each capital city:

Sydney

Most expensive - house: Vaucluse ($2,394 median rent)

Most expensive - unit: Point Piper ($1,096 median rent)

Most affordable - house: Tregear ($412 median rent)

Most affordable - unit: Cabramatta ($342 median rent)

Melbourne

Most expensive - house: BrightonBrighton, SA Brighton, VIC Brighton, TAS Brighton, QLD ($1,281 median rent)

Most expensive - unit: Brighton East ($629 median rent)

Most affordable - house: Melton ($356 median rent)

Most affordable - unit: Melton South ($305 median rent)

Brisbane

Most expensive - house: AscotAscot, QLD Ascot, QLD Ascot, WA Ascot, VIC Ascot, VIC ($1,055 median rent)

Where is the cheapest place to live in NSW?

The top 10 affordable suburbs in New South Wales.

What is the average rent in Australia 2022?

Canberra is the most expensive city for renters with the median unit price coming in at $550 per week, followed by Sydney ($520 per week), Darwin ($500 per week), and Hobart ($450 per week). ... Median unit rents in September 2022 (Source: PropTrack).

Where is the cheapest place to rent to live?

Overall, renters have experienced a 15% increase in housing costs since February 2021. As mortgage rates rise, it becomes more expensive to buy, which boosts demand for rentals and allows landlords to charge more. Tulsa, Oklahoma has the cheapest rent in the U.S.