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Can We Really Afford Where We Live?

We all want to be able to live in the prime suburbs of Sydney, those ones that are just minutes away from all the fun and excitement of the big smoke, But can we really afford it?

To be able to live a comfortable and rental stress free life we should only be spending maximum 30% of our weekly income on rent according to property agents. But as some Sydney-siders like to push their limits, they push that rental stress on to themselves.

When it comes to locations, the further from the big smoke the more comfortable renters are.

If we look at Central Sydney ie: Haymarket, Ultimo and Sydney CBD, we see that on average renters are paying 47.3% of their weekly wage which can start the growth of rental stress.

Compare to South Sydney locations such as Cronulla, Kurnell and Sylvania Waters and Eastern Sydney locations such as Tamarama, North Bondi and Coogee we see that on average renters are paying between 25.8% to 27.4% which shows that maybe leaving the city might be that little bit easier on the weekly income.

Being able to live a comfortable life and doing all the things you love is a major key to living a happy life so maybe when you go for your next rental property ask yourself,

Is it below that 30% mark?

Image sourced
Hordern Rental Market
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Can We Really Afford Where We Live?