Ever wondered who makes up Australia’s population of renters? Based on ABS data and research from Rent.com.au, the key trends and demographics of renters around Australia have been identified. This research found the average renter in 2018 is a 34-year-old female, earns around $66k per year and lives with 2.4 people. The average renter sends an average of five enquiries or applications throughout her property search.
The Northern Territory is home to renters with the highest income of all states and territories at an average of $72k per year. In contrast, Tasmanian renters earn an average of $45k per year.
The oldest renters in Australia are in Queensland with the average age of renters about 35 years old, while Tasmania has the youngest renters at 32.8 years old. Tasmania also has the highest number of renters aged 15 to 24 years of age, while the highest number of 24 to 34-year-old renters live in Victoria.
Compared to Australia’s broader population, renters are typically in the younger age ranges with renters under 35 years old making up more than 60% of Australia’s renters. Over 30% of renters are between 25 and 34 years old and 28% of renters are between 15 and 24 years old.
Based on this research and ABS data, New South Wales has the highest proportion of renters at 30.8% — hardly surprising as the cost of property in Sydney maintains its high prices. Queensland has the next highest proportion of renters at 26.4%. The lowest percentage of renters are in Tasmania and the Australian Capital territory at 1.6% and 0.9% respectively.
Across all employment types — employed, retired, student, and between jobs — employed renters earn an average of $73,761 per year. This is higher than the other employment types and is also above the Australian average of $66,643.