In conjunction with declining home ownership we are also seeing an increasing proportion of renter households in Australia.
Australian renters are paying higher rents – median household rent has increased at a greater rate than median personal income. This has greatest impact on single person households and single-parent and couple households where there is only one income.
The median single income household would need to spend more than 50% of their household income to pay the median rent. This is unaffordable by any measure and is indicative of the housing stress facing Australian renters.