Rent vs Buy Calculator Australia
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Compare your income against the real cost of living: rent or mortgage, every cost included. Instant affordability insights for suburbs right across the country.
Illustrative examples only. Figures shown are representative, not live results. Search your own suburb for real numbers.
Explore all 14,000+ Australian suburbsAffordaLive isn't just a basic rent vs buy calculator. No more guessing, no spreadsheets, no hours of manual research. Just type in any suburb to see your real costs side by side: mortgage vs rent, stamp duty, LMI, everyday expenses, and a 30-year outlook, all in seconds. See the full feature list →
Input your combined household net (take-home) income. If you and a partner are both earning, add both amounts together, and AffordaLive calculates what your household can actually afford.
Type any suburb, postcode or region across all 8 Australian states and territories. The calculator instantly loads prefilled benchmark data: median rents, property prices, and living cost estimates for that location.
Switch between Rent and Buy mode. View total monthly outgoings, leftover income, affordability grade, stamp duty, LMI, savings goals, and a 30-year cost comparison chart.
All prefilled figures are current average estimates updated regularly. For the most popular suburbs, we maintain detailed local benchmarks. For all other suburbs across Australia, estimates are drawn from nearby benchmark data or ABS Census figures.
You can modify any prefilled figure. Switch to Advanced mode in the calculator to manually enter your own numbers for rent, purchase price, or any living cost.
We do our best to ensure data coverage across all 14,000+ Australian suburbs, but gaps may exist for very small or newly established localities. If no data is available for a suburb, the calculator will let you know and allow you to enter your own figures.
The decision to rent or buy in Australia is rarely as simple as “which is cheaper each week.” Both paths carry significant costs that don’t always appear in listings or mortgage quotes. AffordaLive models all of them.
Varies significantly by state and property type. Rules for first home buyers differ depending on whether you’re buying a new home, an established home, or vacant land. For example, in QLD new homes are fully exempt with no price cap, but established homes are only exempt under $700,000. In SA, new homes are fully exempt while established homes receive no concession at all.
Check the rules in your state: NSW · VIC · QLD · WA · SA · TAS · ACT · NT
If your deposit is under 20%, Lenders Mortgage Insurance (LMI) applies, up to $30,000+. Eligible first home buyers under the Government’s Home Guarantee Scheme (HGS) can buy with just 5% deposit and no LMI. AffordaLive models both scenarios.
Budget 1–2% of the property value annually — $8,000–$16,000/yr on an $800K property.
For apartments and townhouses, quarterly fees range from $500 to $5,000+ per quarter.
Council rates are a compulsory owner cost. Insurance is optional but commonly taken out to protect the property. Together, typically $4,000–$8,000/year in metro areas.
Every dollar paid in rent builds no equity. Over 20–30 years, this opportunity cost can be substantial.
Rents across Australia have risen 30–50% since 2020 in many cities. At every lease renewal, you’re exposed to market movements.
Renters can be asked to vacate with short notice, creating financial and lifestyle uncertainty.
Most rentals restrict modifications, pets, and personalisation, limiting lifestyle quality.
Each move typically costs $3,000–$8,000 in bond, removalists, and connection fees.
The right answer depends on your financial position, lifestyle, and the specific suburb you’re targeting.
Do you have enough for a deposit (5–20%), plus stamp duty, LMI if applicable, and emergency savings? The Government’s Home Guarantee Scheme lets eligible first home buyers buy with just 5% deposit and no LMI. AffordaLive models all of this.
In some suburbs, buying is cheaper than renting monthly. In others (particularly inner-city apartments) the reverse is true. Gross rental yields vary from 2.5% in blue-chip suburbs to 7%+ in regional areas.
Buying involves significant upfront costs. If you’re likely to move within 3–5 years, these may outweigh capital gains. The 30-year comparison chart shows the full picture.
Houses on land appreciate more reliably than apartments in most Australian markets. Apartments can carry high strata fees that significantly impact total ownership costs.
Are you settled in your career and location? Renting offers flexibility; owning provides stability and security of tenure. Neither is inherently better. It depends on your life stage.
Financial planners recommend housing costs not exceed 30% of net income. AffordaLive flags when you’re above this threshold and shows exactly what income you’d need to meet the guideline.
Enter your income, search any Australian suburb, and see exactly what you can and can’t afford, in seconds, completely free.
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Once you've found your suburb, a personalised paid report is available from $29.00.