April RentRabbit.com.au Tenant Opportunity Report reveals Melbourne’s top 20 tenant-friendly suburbs

New research commissioned by RentRabbit.com.au has found Melbourne’s standout suburbs for tenants who want to live in good locations but have only average incomes.

The quarterly RentRabbit.com.au Tenant Opportunity Report identifies the top 20 suburbs in Melbourne where tenants can find affordable rents in decent suburbs that are within commuting distance of the CBD.

To make sure locations are tenant-friendly, suburbs are excluded if their SA3 is more than 100km from the CBD.

(The Australian Bureau of Statistics refers to a cluster of suburbs as a ‘statistical area 3’, or a ‘SA3’. SA3s often closely align to local government areas.)

Suburbs are also excluded if they have a low socio-economic status, as measured by having a SEIFA socio-economic score of less than 4.

(A SEIFA economic score is an Australian Bureau of Statistics measure that ranks areas in Australia according to relative socio-economic advantage and disadvantage. If a suburb has a score of 4, it means it’s in the fourth decile [i.e. 31-40%] in terms of its socio-economic position.)

That leaves a small list of Melbourne suburbs. To establish a top 20 ranking, these suburbs are then ranked based on weekly rental rates (from lowest to highest).

All the suburbs had a median weekly rent of $420 or below and were located within 35km of the CBD.

RentRabbit.com.au co-founder Ben Pretty said it’s encouraging to see that tenants still have some decent options, even if the odds are stacked against them in the current market.

“Melbourne’s vacancy rate has fallen considerably over the past year, which has made it harder for tenants to find accommodation and has led to sharp rental increases,” he said.

“It’s definitely a landlord’s market in many parts of Melbourne, and I’ve been hearing some really harrowing stories of tenants doing it hard, especially families on lower incomes.

“The aim of the RentRabbit.com.au Tenant Opportunity Report is to show tenants that although conditions are tough right now, it’s still possible to find somewhere to live that’s affordable, desirable and commutable.”

Top 20 ranking

Key stats on the top 20 suburbs

1. The house market of Altona Meadows (Hobsons Bay)

2. The house market of Seabrook (Hobsons Bay)

3. The house market of Derrimut (Brimbank)

4. The house market of Derrimut (Brimbank)

5. The house market of Sydenham (Brimbank)

6. The house market of Notting Hill (Monash)

7. The house market of Mill Park (Whittlesea – Wallan)

8. The house market of Sunbury (Sunbury)

9. The house market of Epping (Whittlesea – Wallan)

10. The house market of Whittlesea (Whittlesea – Wallan)

11. The house market of Brooklyn (Hobsons Bay)

12. The house market of Reservoir (Darebin – North)

13. The house market of Mickleham (Tullamarine – Broadmeadows)

14. The house market of Craigieburn (Tullamarine – Broadmeadows)

15. The house market of Mernda (Whittlesea – Wallan)

16. The house market of Gladstone Park (Tullamarine – Broadmeadows)

17. The house market of Keilor Downs (Brimbank)

18. The house market of Avondale Heights (Keilor)

19. The house market of Beveridge (Whittlesea – Wallan)

20. The house market of Diggers Rest (Sunbury)