National Shelter, Community Sector Bank and SGS Economics and Planning have partnered to launch Australia's first Rental Affordabability Index.
The Index reveals the depth and extremity of housing stress faced by renters in the current market. Both low income and moderate income households suffer poverty due to high rental costs.
Housing stress occurs when households pay 30% or more on rent. Low income households are having to pay around 65% of income on rent to access a tenancy. This means that rents are extremely unaffordable.
This first issue of the Index releals evidence that low income households are in a dire situation, single income households are worst off and rent costs are now locking low and moderate income households out of inner cities.
To read the media release click here.
To see the full report click here.
For more analysis from SGS Economics and Planning, who did the reseach, click here.
For interactive maps, click here.