AU How long it takes to earn rent in each state
Property Here - Wednesday, May 08, 2013
HOW many hours work does it take you to cover your rent each week?
A widely accepted measure of affordable housing says that if your rent costs less than 30 per cent of your gross income, or a third of your working week, you're doing OK.
Comparing ABS data on average full-time earnings with RP Data figures on median rents shows how many hours on average it takes for a full-time worker to make their rent in each state.
Joel Pringle, campaign manager at Australians for Affordable Housing, says rent is much less affordable in the Northern Territory compared to other states because of the mining boom.
"Because the population and the existing housing stock is so low [the rise in the number of people living in the state] has pushed up the prices," he said.
Mr Pringle said high rents in the ACT were largely due to high white-collar employment.
"And it's such a small territory, such small population, that any swing really shows up," he said.
Mr Pringle added that high unemployment rates in Tasmania and South Australia meant that those who were employed were in a much better position to afford housing.
Median house rent: $590 (takes 16.6 hours to earn)
Median unit rent: $460 (takes 13 hours to earn)
Average weekly salary: $1417.4 ($35.44 per hour)
House rent $510 (takes 12.4 hours to earn)
Unit rent: $430 (takes 10.5 hours to earn)
Average weekly salary: $1645.1 ($41.13 per hour)
House rent: $410 (takes 11.7 hours to earn)
Unit rent: $430 (takes 12.29 hours to earn)
Average weekly salary: $1398.90 ($34.97 per hour)
House rent: $385 (takes 11.2 hours to earn)
Unit rent: $350 (takes 10.2 hours to earn)
Average weekly salary: $1370 ($34.25 per hour)
House rent: $420 (takes 10.7 hours to earn)
Unit rent: $420 (takes 10.7 hours to earn)
Average weekly salary: $1590.6 ($39.77 per hour)
House rent: $340 (takes 10.2 hours to earn)
Unit rent: $340 (takes 10.2 hours to earn)
Average weekly salary: $1331 ($33.28 per hour)
House rent: $320 (takes 10 hours to earn)
Unit rent: $280 (takes 8.8 hours to earn)
Average weekly salary: $1276 ($31.90 per hour)
House rent: $280 (takes 9.1 hours to earn)
Unit rent: $250 (takes 8.2 hours to earn)
Average weekly salary: $1226.6 ($30.67 per hour)
Australians for Affordable Housing also looked at the average salary of each job and analysed which workers must spend more than 30 per cent of their income in order to afford the median rents in each capital city.
In the Northern Territory and Queensland less than one in 10 professions pay salaries that can cover median capital city rents by spending less than 30 per cent of the pay cheque.
In the NT just one profession (engineering professionals) out of 86 can cover the median capital city rent for a house.
Eight professions (sales, marketing and public relations professionals; architects, designers, planners and surveyors; air and marine transport professionals; machine operators; stationary plant operators; mechanical engineering trades workers; building and engineering technicians and engineering professionals) can cover the median capital city rent for a unit.
In Queensland just five professions (health therapy professionals; engineering professionals; financial brokers and dealers, and investment advisers; air and marine transport professionals; medical practitioners) can cover median capital city rents for houses and units.
Do you rent? How much of your weekly pay cheque do you have to spend?
Read more: http://www.news.com.au/money/cost-of-living/how-long-it-takes-to-earn-rent-in-each-state/story-fnagkbpv-1226637001235#ixzz2SfguYb8T