Data confidence level:
How much does it cost to rent an apartment in Australia? Unsurprisingly, this number varies dramatically depending size and suburb, and there is also great disparity between cities. This FACT indicates the median rental rate for a unit (or apartment) in each Australian capital city. The median has been utilised as it gives a more accurate reflection of the overall data set. The median value is the middle price in a series of sales, where half of the sales are of lower value and half are of higher value. Here, all sizes of units have been considered. The data represents statistics for the July Quarter in 2015. In Australia, rent and mortgage repayments are generally calculated in weekly instalments, and so the data here represents weekly repayments.
This data suggests that Sydney-siders pay more for apartments, which is likely influenced by the high cost and demand of real estate (apartments) in the CBD. The cheapest rental unit rates in are in Hobart, coinciding with the rental housing data.