Despite the fact that Sydney isn’t among the top ten most expensive cities in the world, it’s certainly not cheap to go about your business in the Harbour City, even if you are filling your time with free things to do. The cost of living is on the up, and we're looking to save a dollar or two whenever we can. For a lot of us, the biggest outgoing expense is typically housing – so it's always good to have in mind the spots in Sydney where you can rent a room in a share house for cheap (or at least, for a lot less than certain hyper-pricey places).
A survey of more than 10,000 people from across Australia by Flatmates.com.au has revealed the cheapest suburbs to rent a room in Sydney, by the median cost that renters pay per week. Topping the list was Bringelly in Western Sydney, with an average weekly rental price of $190 per week; $760 for a month of rent is pretty decent, though it is more than an hour’s drive from the city, so it depends on where you work or study whether you can make this work.
Next on the cheap rentals list is Chipping Norton, Prestons and Smithfield, where rent will set you back $200 a week (that’s $400 less than Sydney’s most expensive suburb, where renting a room will cost you an average of $600). The prices in these suburbs all come in way below the national median weekly rental cost, which is $290.
But with the way the economy is heading, you'd better nab a cheap rental quickly, before everyone catches on. The survey results found that more and more people are turning to share house living, amid the cost of living crisis and the tight rental market. Almost half of all respondents said the main reason they chose to live with others was simply because they couldn't afford to live on their own. This goes for both renters and homeowners, who are choosing to lease spare rooms to offset rising interest rates and financial challenges. Flatmates.com.au reported that the fastest-growing demographic of members on their site in the last year was the 55- to 64-year-old bracket, followed by the 65- to 74-year-olds.
"Australians are looking for new ways to navigate the rental crisis and tackle the rising cost of living," says Flatmates.com.au community manager Claudia Conley. "Over the past year, our audience has grown in size and diversity, and with the peak season for share accommodation at our doorstep, we expect demand for share house living to grow.
"Share accommodation is a long-term and legitimate way to live for many Australians, and until more homes are built to keep up with the demand for rentals, we expect share accommodation to remain popular."
So if you've got a good deal on your share house, consider yourself lucky. And hey, living in a share house isn't all bad – you've got live-in besties and there's always someone to binge-watch Netflix with. Now that doesn't sound too bad to us.
The top ten cheapest suburbs in Sydney to rent a room by median weekly room price:
1. Bringelly
2. Chipping Norton
3. Prestons
4. Smithfield
5. Richmond
6. Casula
7. Glenmore Park
8. Toongabbie
9. Berala
10. Roselands