Looking for an affordable rental in a highly competitive market can be a daunting task. But there’s a solution for those willing to team up with friends or family: sharing a house.

According to Rent.com.au’s latest report, renters in the top 20 suburbs can cut their weekly rent by up to 50% by choosing to share a house instead of renting an entire apartment. By splitting the rent and utilities with housemates, renters can save money while enjoying a more affordable housing option.

But sharing a house isn’t just about cost savings. It’s also a cost-effective way to help ease the national rental crisis. Filling vacant rooms reduces the demand for new housing construction, which can potentially lower housing costs in high-demand, low-vacancy areas. Plus, sharing a house gives you a chance to connect with your housemates, fostering a sense of community and support that’s especially valuable for newcomers to an area.

Overall, sharing a house can be a smart and savvy option for renters who want to stretch their housing budget. With the potential for substantial savings and the ability to help ease the national rental crisis, it’s definitely worth considering.

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Greg Bader, CEO of Rent.com.au, commented:

“We’ve seen house sharing go through several cycles over the last couple of years. It saw a substantial drop during COVID as people began working from home and prioritised having their own space. But in 2023, we’ve seen a real lift in the number of people sharing houses, driven largely by record-low property availability and the resulting rental increases that come with low vacancy rates.

“Sharing has always been a practical option, especially for the young and those just entering the workforce with limited budgets. However, we’re now seeing a real broadening in the market, with people from all age groups embracing house-sharing. While cost is still a major driver, the trend also caters to those seeking to maintain their preferred lifestyle, including living in an area they love.

“The savings on rent and utilities are self-evident, but there are other soft advantages too. If you’re new to an area, living with housemates can be a great way to expand your social circle and discover hidden gems in your community.

“However, it’s important to approach sharing with the right mindset and be prepared to compromise. Splitting rooms, parking, and chores can be a challenge, but with the right approach, you could save money on rent and make lasting friendships. Remember, sharing isn’t for everyone, but it’s worth considering for those looking to cut costs and build connections.

“At Rent.com.au, we’re committed to making the renting journey as seamless as possible. Our Renter Resume and Suburb Reviews products offer renters valuable information to help them find a property that meets their needs and budget. Sharing a house can be a smart and cost-effective option for many renters, and we’re here to make that process as easy as possible for our users.”

Median Rent
#Stateundefined1-bed unit2-bed unit3-bed house4-bed houseShared housing savings per bedroom (est)
1VICLaverton, 3028$295$360$340$400-55%
2NSWLidcombe 2141$500$590$570$670-55%
3QLDAnnandale 4184$340$525$430$515-55%
4WACarey Park 6230$290$380$400$350-54%
5WARivervale 6103$420$475$480$580-54%
6WACloverdale 6105$400$435$450$550-53%
7VICHampton Park 3976$330$380$400$450-53%
8VICCaroline Springs 3023$350$410$420$490-53%
9NSWParramatta 2150$470$540$550$675-52%
10VICBroadmeadows 3047$280$360$360$400-52%

For a state-by-state breakdown of top suburbs for renters in shared housing, check out the full report below.