A single person in Australia now needs an annual income of at least AUD130,000 (US$81,700) to rent a typical housing unit without financial strain.
Even those earning six-figure salaries are facing housing costs exceeding 30% of their income in capital cities and numerous regional areas, according to a recent report by campaign group Everybody’s Home, as cited by the ABC.
The report analyzed rental affordability for individuals earning between AUD40,000 and AUD130,000 per year.
Experts often cite the 30% threshold as a key indicator of housing affordability, particularly for low-income households.
Those who make less than AUD130,000 might face financial difficulty with rent.
For someone earning AUD70,000 annually, rent would consume more than half their income based on the average unit price.
Lower earners, such as those making AUD40,000, could be forced to allocate over 70% of their income to rent.
Maiy Azize, spokesperson for Everybody’s Home, said that the research highlights how even high-income individuals are struggling with “staggeringly high” rents.
“The situation is even more dire for those on lower incomes, with people earning AUD40,000 per year facing extreme rental stress nationwide,” she added.
Source: Vnexpress
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