Adelaide’s top 20 expensive and affordable suburbs to rent
Adelaide’s property rental market continues to stay strong, which is great news if you’re a landlord or looking to buy an investment property.
According to CoreLogic’s Quarterly Rental Review, Adelaide recorded the second strongest quarterly rental growth in Australia out of all the capital cities from January 2022 – March 2022.
Here’s a look at Adelaide’s change in rents based on CoreLogic data, including:
- Median rent per week: the middle value of advertised weekly rents captured by CoreLogic during the quarter.
- Quarterly change: the difference between the median weekly advertised rental rate in the current quarter compared to the last quarter. The result is expressed as a percentage.
- Year on year change: the difference between the median weekly advertised rental rate in the current quarter compared to the same quarter last year. The result is expressed as a percentage.
Change in rent
Houses in Adelaide
| Median rent per week | Quarterly change (Jan-Mar 22) | Year on year change |
|---|---|---|
| $485 | 3.0% increase | 9.0% increase |
Units in Adelaide
| Median rent per week | Quarterly change (Jan-Mar 22) | Year on year change |
|---|---|---|
| $384 | 2.7% increase | 6.6% increase |
Suburb performance
This isn’t to say all rental properties in Adelaide are expensive. There’s still variance in median rent from suburb to suburb.
To help give you an understanding of how individual Adelaide suburbs are performing, CoreLogic has listed the most expensive and affordable suburbs to rent, as part of their Quarterly Rental Review.
Take a look at which suburbs topped the lists.
Top 20 most expensive suburbs to rent
Based on CoreLogic’s median rent value these are the most expensive suburbs to rent a property in Adelaide.
| Rank | Suburb | Property type | Median value | Gross
rental | Median rent | Monthly change | Quarterly change | Annual change |
|---|---|---|---|---|---|---|---|---|
| 1 | Glenelg South | Houses | $1,324,960 | 2.83% | $784 | 0.6% | 5.9% | 11.0% |
| 2 | Malvern | Houses | $1,778,440 | 2.23% | $775 | 1.0% | 4.5% | 4.7% |
| 3 | Myrtle Bank | Houses | $1,492,415 | 2.57% | $754 | 0.2% | 2.5% | 7.3% |
| 4 | Unley | Houses | $1,500,324 | 2.49% | $753 | 1.0% | 4.7% | 10.2% |
| 5 | Beaumont | Houses | $1,696,756 | 2.24% | $751 | -0.3% | -0.5% | 8.0% |
| 6 | Glenelg | Houses | $970,812 | 3.57% | $744 | 1.8% | 4.6% | 11.2% |
| 7 | Somerton Park | Houses | $1,143,481 | 3.07% | $742 | 1.6% | 7.4% | 12.3% |
| 8 | St Georges | Houses | $1,669,591 | 2.19% | $735 | 0.3% | 0.7% | 10.8% |
| 9 | Fullarton | Houses | $1,472,582 | 2.51% | $730 | 1.0% | 4.3% | 6.7% |
| 10 | North Adelaide | Houses | $1,202,870 | 3.05% | $719 | 1.5% | 3.7% | 12.6% |
| 11 | Burnside | Houses | $1,416,259 | 2.57% | $716 | 1.7% | 0.5% | 6.7% |
| 12 | St Peters | Houses | $1,791,466 | 2.04% | $715 | 2.0% | 4.5% | 12.3% |
| 13 | Walkerville | Houses | $1,654,873 | 2.21% | $705 | 0.1% | 2.4% | 8.3% |
| 14 | Linden Park | Houses | $1,503,874 | 2.49% | $704 | 1.7% | 1.6% | 12.1% |
| 15 | Parkside | Houses | $1,310,835 | 2.70% | $704 | 1.3% | 5.2% | 9.2% |
| 16 | Glenside | Houses | $1,367,368 | 2.66% | $700 | 2.6% | 2.6% | 14.0% |
| 17 | Glenelg East | Houses | $1,113,253 | 3.30% | $699 | 0.9% | 5.3% | 12.9% |
| 18 | Goodwood | Houses | $1,413,702 | 2.52% | $687 | 1.2% | 4.3% | 10.6% |
| 19 | Glenunga | Houses | $1,624,842 | 2.21% | $686 | 0.9% | 1.7% | 14.4% |
| 20 | Kensington Park | Houses | $1,442,193 | 2.40% | $685 | 1.4% | 1.3% | 10.0% |
Top 20 most affordable suburbs to rent
Based on CoreLogic’s median rent value these are the most affordable suburbs to rent a property in Adelaide.
| Rank | Suburb | Property type | Median value | Gross rental yield | Median Rent | Monthly change | Quarterly change | Annual change |
|---|---|---|---|---|---|---|---|---|
| 1 | Salisbury | Units | $238,130 | 6.32% | $289 | 0.9% | 1.8% | 2.4% |
| 2 | Salisbury East | Units | $252,800 | 5.89% | $291 | 0.4% | 0.7% | 3.0% |
| 3 | Andrews Farm | Units | $260,906 | 6.05% | $306 | 1.7% | 3.2% | 12.1% |
| 4 | Salisbury North | Units | $265,697 | 6.23% | $312 | 0.4% | 1.3% | 3.0% |
| 5 | Elizabeth North | Houses | $248,235 | 6.79% | $326 | 0.9% | 3.0% | 11.9% |
| 6 | Elizabeth South | Houses | $263,129 | 6.24% | $327 | 1.2% | 3.3% | 11.0% |
| 7 | Windsor Gardens | Units | $289,485 | 5.76% | $332 | 0.1% | 0.2% | 7.7% |
| 8 | Elizabeth Grove | Houses | $281,662 | 6.10% | $334 | 1.3% | 3.5% | 10.8% |
| 9 | Croydon Park | Units | $336,758 | 5.08% | $339 | 2.9% | 4.2% | 3.9% |
| 10 | Davoren Park | Houses | $282,792 | 6.24% | $339 | 1.0% | 4.0% | 13.4% |
| 11 | Bedford Park | Units | $268,550 | 6.41% | $339 | 2.4% | 3.7% | 11.7% |
| 12 | Brooklyn Park | Units | $322,928 | 5.41% | $339 | 1.1% | 2.1% | 7.1% |
| 13 | Klemzig | Units | $304,051 | 5.81% | $341 | -0.8% | 0.5% | 8.2% |
| 14 | Kurralta Park | Units | $329,283 | 5.50% | $341 | 1.6% | 3.8% | 6.1% |
| 15 | Plympton | Units | $329,622 | 5.51% | $341 | 1.0% | 2.6% | 5.4% |
| 16 | Elizabeth Downs | Houses | $263,173 | 6.70% | $342 | 0.9% | 3.2% | 11.8% |
| 17 | Smithfield Plains | Houses | $302,978 | 5.81% | $344 | 1.3% | 4.0% | 12.6% |
| 18 | Elizabeth Vale | Houses | $323,634 | 5.48% | $348 | 1.4% | 3.9% | 10.4% |
| 19 | Elizabeth East | Houses | $335,744 | 5.25% | $348 | 0.9% | 1.9% | 10.3% |
| 20 | Hope Valley | Units | $338,704 | 5.29% | $350 | 1.1% | 1.8% | 8.6% |
Further research
Like with all investing, it’s important you do your own research like visiting the area, understanding local development and infrastructure (access to public transport, job market and crime rate etc.), as well as looking at your own needs, goals and financial circumstances.
If you’re ready to buy an investment property in South Australia, you can apply for a home loan online, or if you’d like to chat we’re more than happy to walk you through the process. Make an appointment with one of our friendly Mobile Lending Managers who can come to your home or office at a time that suits you. You can also visit us at 400 King William Street, Adelaide or call us on 13 8777 between 8am – 8pm weekdays or 8am – 2pm Saturdays.
INFORMATION YOU SHOULD KNOW
This data is sourced from CoreLogic and reflects 1 January 2022 to 31 March 2022 period.
Median Value: The median value of all properties across the geography based on the CoreLogic Automated Valuation Model.
Gross Rental Yield: The CoreLogic automated valuation model (AVM) rental yield is based on the annualised rent (Median Asking Rent x 52 weeks), divided by the median AVM of those properties advertised for rent.
Median rent per week: The middle value of advertised weekly rents captured by CoreLogic during the quarter.
This article is intended as general information only and has been prepared without taking into account the personal financial situation, objectives or needs of the reader. Before acting on this information, you should consider its appropriateness, having regard to your objectives, financial situation and needs.
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