Aussies share how much they pay in rent compared to what they earn

Australians are feeling the pinch as the average cost of living increases – with the price of petrol, small goods and rentals skyrocketing. 

And now thousands have compared what they’re paying in rent with their income, with some spending as much as 50 per cent of their salary on renting homes they love. 

‘If people don’t mind sharing, what do you pay for rent in Sydney and what percentage of your monthly income?’ a woman wrote on Reddit. 

One person admitted they spend $215 on rent and earn between $500 and $1,000 per week 

The open Reddit forum was quickly flooded with responses from tenants in and around the Sydney CBD

One person admitted they spend 50 per cent of their income on rent 

‘I’ll start. Currently paying $360 per week in Ryde area. Lease ends soon and seems like places are getting quite expensive and nice places always have a lot of people interested in them or applying. 

‘There are quite a few more expensive places for … lesser quality as well.’ 

The open forum was quickly flooded with responses from tenants in and around the Sydney CBD, with prices often costing between $250 and up to $430 per week and some spending a whopping 50 per cent of their salary on rent. 

Another Reddit user said they pay $3300 a month ($825 per week) but split the cost with their partner 

Another person said they spend 30 per cent of their income on rent 

‘Last year I was paying $215 per week for a room in a share house in Jannali, my wage was between $500 and $1,000 per week,’ one person wrote. 

‘I pay about $3,300 a month split rent with my girlfriend and we live in Chippendale. Ends up [being] about 25 per cent of my income which isn’t bad considering we can walk to everything, including jobs in the city,’ another added.  

A third wrote: ‘I pay $430 per week for a two-bedroom in Meadowbank. It’s just under 50 per cent of my income. It’s expensive, but I love it here.’

Another admitted: ‘I pay $330 a week for a studio in Surry Hills near Taylor Square. Way too much if you ask me. Plus, I am currently taking my landlord to the tribunal for taking over a month to install a working smoke alarm.’ 

Russia’s invasion of Ukraine has caused petrol prices to spike in Australia and around the world in recent weeks, but it’s not just at the bowser that people feel the pressure – the cost of oil flows through to everything (stock image)

Russia’s invasion of Ukraine has caused petrol prices to spike in Australia and around the world in recent weeks, but it’s not just at the bowser that people feel the pressure – the cost of oil flows through to everything. 

Automotive fuel has risen by 32.3 per cent in the past year in Australia.  

Gerry Incollingo, Managing Director of financial planning business LCI Partners, previously told FEMAIL the average Australian should spend a maximum of 30 per cent of their monthly gross income on rent.

Pushing further than this recommended amount can place strain on the person and their financial situation.

‘Of course, circumstances differ across the board and sometimes it may seem necessary to compromise on other expenses to increase your ability to afford rent, however, it is commonly considered that pushing for higher than 30 per cent often generates housing stress,’ Mr Incollingo said.

‘Prospective renters should make it their primary focus to accurately determine how much they make and calculate how much they are able to afford within a safe sweet spot.’ 

Failing to understand and manage your financial position can result in ‘rental stress’ and the possibility of being unable to pay for additional bills.