Australia’s rental crisis deteriorates

Tuesday 25 November 2025

Cotality has released alarming data illustrating the sharp deterioration of rental affordability over recent years following record net overseas migration.

The following chart plots the percentage of median household income spent on renting the median dwelling at the national level:

Rental affordability nationally was tracking at its most favourable level in 15 years in Q4 2020, with the median tenant household spending 26.2% of their income on rent.

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.