Which suburbs have the most affordable mortgages in Australia?
Who has the most leftover money after their mortgage repayments? We've identified the top 10 suburbs in each state.
We’ve compiled a nationwide and state-by-state comparison of the most affordable suburbs in Australia. By subtracting the average annual mortgage repayments from the average after-tax income for a household in that suburb, we can identify the suburbs with the lowest levels of mortgage stress. The bigger the difference, the less stressed you'll be.
Note that this won't usually be the suburbs with lower house prices. In those markets, mortgage payments are likely to take up a large percentage of household income. Nor will it be the ritziest suburbs: prices there are so high that even the well-off won't have a lot to spare.
The table below shows the 20 most affordable suburbs and cities, based on the amount of money the typical household has left after paying the mortgage. The top 20 list is dominated by regional areas. Since the majority of jobs are found in capitals, we've also done a top 10 analysis for capital cities and regional areas in each state.
The top 10 most affordable suburbs in Australia: capital cities
Western Australia bagged seven out of the top ten spots for most affordable capital city suburbs in the country, with Brentwood topping the list. Residents of Brentwood have an average household income of $75,398 per year to spend after mortgage repayments are made.
Also in the list are other Western Australian suburbs including Willagee, Cottesloe, North Dandalup, North Fremantle, Ardross and West Perth.
The only non-WA suburbs to make the list were Chapel Hill and Kenmore in Queensland, and Vale Park in South Australia.
| Area | State | Median house value | Annual mortgage repayments | Av. after-tax income per household | Income remaining |
|---|---|---|---|---|---|
| BRENTWOOD | WA | $827,500 | $37,926 | $113,324 | $75,398 |
| WILLAGEE | WA | $596,500 | $27,339 | $97,530 | $70,191 |
| COTTESLOE | WA | $1,842,000 | $84,422 | $153,834 | $69,412 |
| KENMORE | QLD | $618,500 | $28,347 | $97,619 | $69,272 |
| NORTH DANDALUP | WA | $336,500 | $15,422 | $84,167 | $68,745 |
| VALE PARK | SA | $612,000 | $28,049 | $94,868 | $66,819 |
| NORTH FREMANTLE | WA | $1,063,000 | $48,719 | $115,475 | $66,756 |
| CHAPEL HILL | QLD | $704,500 | $32,289 | $97,619 | $65,330 |
| ARDROSS | WA | $1,065,000 | $48,811 | $113,324 | $64,513 |
| WEST PERTH | WA | $863,500 | $39,576 | $102,464 | $62,888 |
The top 10 most affordable suburbs in Australia: regional
If you prefer to swap sprawling city life for a simpler regional lifestyle, the most affordable suburb was St Andrews, Victoria, with an average income after repayments of $128,196. This was followed by Moranbah in Queensland, where the average household enjoys $90,162 per year after handling mortgage payments.
| Area | State | Median house value | Annual mortgage repayments | Av. after-tax income per household | Income remaining |
|---|---|---|---|---|---|
| ST ANDREWS | VIC | $702,000 | $32,174 | $160,370 | $128,196 |
| MORANBAH | QLD | $276,000 | $12,650 | $102,812 | $90,162 |
| DAMPIER | WA | $602,500 | $27,614 | $115,641 | $88,027 |
| MILLARS WELL | WA | $409,500 | $18,768 | $105,741 | $86,973 |
| BULGARRA | WA | $428,000 | $19,616 | $105,741 | $86,125 |
| BLACKWATER | QLD | $224,500 | $10,289 | $96,327 | $86,038 |
| NICKOL | WA | $432,000 | $19,799 | $105,741 | $85,942 |
| ROXBY DOWNS | SA | $351,000 | $16,087 | $101,997 | $85,910 |
| PEGS CREEK | WA | $457,500 | $20,968 | $105,741 | $84,773 |
| DYSART | QLD | $267,000 | $12,237 | $94,821 | $82,584 |
State by state comparison of most affordable suburbs
New South Wales
Top 10 most affordable capital city suburbs
The remote Scotland Island in the Pittwater Estuary took out first place for NSW’s top 10 most affordable suburbs, with an average income of $60,869 per year remaining after home loan payments are made.
If getting to and from your house on a boat isn’t your ideal living arrangement, Normanhurst made it to second place with an average income after repayments of $46,379 - this is despite having a median house value of $358,000 more than Scotland Island.
Trailing at number 10 on the list was Warragamba, leaving its residents with just $38,638 in income once the mortgage is looked after. This suburb has a median house value of $382,500.
| Area | Median house value | Annual mortgage repayments | Av. after-tax income per household | Income remaining |
|---|---|---|---|---|
| SCOTLAND ISLAND | $780,000 | $35,749 | $96,618 | $60,869 |
| NORMANHURST | $1,138,500 | $52,180 | $98,559 | $46,379 |
| BALMAIN | $1,685,000 | $77,227 | $121,742 | $44,515 |
| WEST PYMBLE | $1,441,500 | $66,067 | $109,844 | $43,777 |
| TERREY HILLS | $1,249,000 | $57,244 | $100,304 | $43,060 |
| SOUTH TURRAMURRA | $1,344,000 | $61,598 | $103,355 | $41,757 |
| HUNTERS HILL | $2,255,500 | $103,374 | $144,507 | $41,133 |
| ROZELLE | $1,381,000 | $63,294 | $102,275 | $38,981 |
| BIRCHGROVE | $1,807,500 | $82,841 | $121,742 | $38,901 |
| WARRAGAMBA | $382,500 | $17,531 | $56,169 | $38,638 |
Top 10 most affordable regional suburbs
If you want to pull up stumps in regional NSW, Singleton and Singleton Heights took out first place. The average income left over after mortgage repayments here is $59,147 with a median house value of $334,750.
Hot on the heels of first place was nearby Scone, in the Hunter region of NSW. It had a slightly lower median house price and average leftover annual income of $338,500 and $58,315 respectively.
Rounding out the top 10 was Wallerawang in the Central Tablelands near Lithgow, with a median house price of $237,000 and a remaining income of $50,350 per year.
| Area | Median house value | Annual mortgage repayments | Av. after-tax income per household | Income remaining |
|---|---|---|---|---|
| SINGLETON & SINGLETON HEIGHTS | $334,750 | $15,343 | $74,489 | $59,147 |
| SCONE | $338,500 | $15,514 | $73,829 | $58,315 |
| MUSWELLBROOK | $271,500 | $12,443 | $69,138 | $56,695 |
| COBAR | $209,000 | $9,579 | $66,002 | $56,423 |
| HUNTERVIEW | $397,000 | $18,195 | $74,489 | $56,294 |
| GREEN POINT | $947,000 | $43,403 | $98,813 | $55,410 |
| EAST BRANXTON | $373,000 | $17,095 | $68,399 | $51,304 |
| NORTH ROTHBURY | $375,000 | $17,187 | $68,399 | $51,212 |
| TELARAH | $273,000 | $12,512 | $63,086 | $50,574 |
| WALLERAWANG | $237,000 | $10,862 | $61,212 | $50,350 |
Victoria
Top 10 most affordable capital city suburbs
Albert Park, the hosting suburb of the international Formula One Grand Prix, took the podium from the competition for most affordable capital city suburb in Victoria. It had an average remaining income of $57,028 once mortgage repayments were made.
In second place was Somerton, with an average income of $53,096 leftover and a median house value of $545,000 - well shy of Albert Park’s $1.533 million.
Wyndham Vale rounded out the top 10 list with an income after repayments of $37,893 and a median house value of $324,000.
| Area | Median house value | Annual mortgage repayments | Av. after-tax income per household | Income remaining |
|---|---|---|---|---|
| ALBERT PARK | $1,533,500 | $70,283 | $127,311 | $57,028 |
| SOMERTON | $545,000 | $24,978 | $78,074 | $53,096 |
| HAMPTON EAST | $957,500 | $43,884 | $93,707 | $49,823 |
| PORT MELBOURNE | $1,224,000 | $56,098 | $102,299 | $46,201 |
| WERRIBEE | $322,500 | $14,781 | $56,565 | $41,784 |
| MIDDLE PARK | $1,888,500 | $86,553 | $127,311 | $40,758 |
| WILLIAMSTOWN NORTH | $804,500 | $36,872 | $77,208 | $40,336 |
| WONGA PARK | $927,000 | $42,486 | $81,329 | $38,843 |
| SOUTH MELBOURNE | $1,222,500 | $56,029 | $94,371 | $38,342 |
| WYNDHAM VALE | $324,000 | $14,850 | $52,743 | $37,893 |
Top 10 most affordable regional suburbs
Regional Victoria was topped by St.Andrews, with a median house value of $702,000 and an average remaining income of $128,196, followed by Portsea with a median house value of $1,576,600 and an after-mortgage repayment income of $80,042 per year.
The suburb with the lowest median house value in the top 10 - $104,500 in Rupanyup - saw owners keep an after-repayment income of $58,571.
| Area | Median house value | Annual mortgage repayments | Av. after-tax income per household | Income remaining |
|---|---|---|---|---|
| ST ANDREWS | $702,000 | $32,174 | $160,370 | $128,196 |
| PORTSEA | $1,576,000 | $72,231 | $152,273 | $80,042 |
| FLINDERS | $896,500 | $41,088 | $106,505 | $65,417 |
| RUPANYUP | $104,500 | $4,789 | $63,360 | $58,571 |
| EAGLE POINT | $278,000 | $12,741 | $64,196 | $51,455 |
| YINNAR | $210,000 | $9,625 | $58,011 | $48,386 |
| MURTOA | $114,500 | $5,248 | $53,073 | $47,825 |
| TRARALGON | $256,500 | $11,756 | $59,327 | $47,571 |
| GLENGARRY | $358,500 | $16,431 | $63,644 | $47,213 |
| TOONGABBIE | $306,000 | $14,025 | $60,963 | $46,938 |
Queensland
Top 10 most affordable capital city suburbs
The most affordable suburb in Queensland’s capital cities was Kenmore in Brisbane’s South-West. This suburb had a median house value of $618,500 and left owners with an after-mortgage income of $69,272.
Nearby Chapel Hill took second place with a more expensive median house value of $704,500 and a household income of $65,330.
Cedar Creek, nearer to Logan and the Gold Coast, had the most expensive property prices in the list with a house value of $1.37 million and a household income after repayments of $61,374.
| Area | Median house value | Annual mortgage repayments | Av. after-tax income per household | Income remaining |
|---|---|---|---|---|
| KENMORE | $618,500 | $28,347 | $97,619 | $69,272 |
| CHAPEL HILL | $704,500 | $32,289 | $97,619 | $65,330 |
| CEDAR CREEK | $1,376,000 | $63,065 | $124,439 | $61,374 |
| BARDON | $892,500 | $40,905 | $101,601 | $60,696 |
| BALMORAL | $936,000 | $42,899 | $102,615 | $59,716 |
| UPPER BROOKFIELD | $841,500 | $38,568 | $97,619 | $59,051 |
| KENMORE HILLS | $855,000 | $39,186 | $97,619 | $58,433 |
| FIG TREE POCKET | $868,000 | $39,782 | $97,619 | $57,837 |
| MILTON | $842,000 | $38,590 | $94,512 | $55,922 |
| MOUNT NEBO | $412,500 | $18,906 | $74,495 | $55,589 |
Top 10 most affordable regional suburbs
If regional Queensland is your pick, Moranbah, a coal mining town near Mackay, came in first with an after-mortgage income of $90,162 per household.
Second spot was taken by Blackwater, another coal mining town leaving residents with a household income of $86,938 per year once mortgage repayments were made.
The state’s most expensive regional properties in the top 10 list were in Calliope in Central Queensland, with a median house price of $343,000 but a high average income of $64,758 after repayments were made.
| Area | Median house value | Annual mortgage repayments | Av. after-tax income per household | Income remaining |
|---|---|---|---|---|
| MORANBAH | $276,000 | $12,650 | $102,812 | $90,162 |
| BLACKWATER | $224,500 | $10,289 | $96,327 | $86,038 |
| DYSART | $267,000 | $12,237 | $94,821 | $82,584 |
| BARNEY POINT | $268,000 | $12,283 | $80,478 | $68,195 |
| WEST GLADSTONE | $303,000 | $13,887 | $80,478 | $66,591 |
| SUN VALLEY | $303,500 | $13,910 | $80,478 | $66,568 |
| KIN KORA | $314,500 | $14,414 | $80,478 | $66,064 |
| SOUTH GLADSTONE | $315,000 | $14,437 | $80,478 | $66,041 |
| CLINTON | $342,000 | $15,674 | $80,478 | $64,804 |
| CALLIOPE | $343,000 | $15,720 | $80,478 | $64,758 |
Western Australia
Top 10 most affordable capital city suburbs
As mentioned above, Brentwood took out first place in WA and Australia as a whole with its highest remaining income of $75,398 per year and a median house value of $827,500.
In second place was Willagee, 15 km South-South West of the Perth CBD, with a median house price over $300,000 less than Brentwood.
Daglish, a suburb in the trendy Subiaco area, was 10th in the list with an average remaining income of $66,756 per household.
| Area | Median house value | Annual mortgage repayments | Av. after-tax income per household | Income remaining |
|---|---|---|---|---|
| BRENTWOOD | $827,500 | $37,926 | $113,324 | $75,398 |
| WILLAGEE | $596,500 | $27,339 | $97,530 | $70,191 |
| COTTESLOE | $1,842,000 | $84,422 | $153,834 | $69,412 |
| NORTH DANDALUP | $336,500 | $15,422 | $84,167 | $68,745 |
| NORTH FREMANTLE | $1,063,000 | $48,719 | $115,475 | $66,756 |
| ARDROSS | $1,065,000 | $48,811 | $113,324 | $64,513 |
| WEST PERTH | $863,500 | $39,576 | $102,464 | $62,888 |
| KENSINGTON | $907,500 | $41,592 | $104,468 | $62,876 |
| MOUNT CLAREMONT | $1,321,000 | $60,544 | $120,741 | $60,197 |
| DAGLISH | $1,133,000 | $51,928 | $111,918 | $59,990 |
Top 10 most affordable regional suburbs
Far away from the city, the major port town of Dampier took first place with an average household income of $88,027 remaining after mortgage repayments.
Second and third were close with Millars Well and Bulgarra, leaving homeowners with a remaining average income of $86,973 and $86,125 respectively.
| Area | Median house value | Annual mortgage repayments | Av. after-tax income per household | Income remaining |
|---|---|---|---|---|
| DAMPIER | $602,500 | $27,614 | $115,641 | $88,027 |
| MILLARS WELL | $409,500 | $18,768 | $105,741 | $86,973 |
| BULGARRA | $428,000 | $19,616 | $105,741 | $86,125 |
| NICKOL | $432,000 | $19,799 | $105,741 | $85,942 |
| PEGS CREEK | $457,500 | $20,968 | $105,741 | $84,773 |
| KAMBALDA EAST | $101,500 | $4,652 | $84,276 | $79,624 |
| BAYNTON | $572,000 | $26,216 | $105,741 | $79,525 |
| KAMBALDA WEST | $154,000 | $7,058 | $84,276 | $77,218 |
| PORT HEDLAND | $848,500 | $38,888 | $112,808 | $73,920 |
| NEWMAN | $628,000 | $28,782 | $102,255 | $73,473 |
Northern Territory
Top 10 most affordable capital city suburbs
Northern Territory’s most affordable suburb was Ludmilla in Darwin’s inner suburbs. It had an after mortgage repayment take home income of $52,174, followed by Stuart Park and Bakewell in second and third with $47,934 and $43,943 respectively.
Gray, an inner city suburb in Palmerston, had the most affordable housing with a median value of $468,000 and a household income after repayments of $43,202.
| Area | Median house value | Annual mortgage repayments | Av. after-tax income per household | Income remaining |
|---|---|---|---|---|
| LUDMILLA | $630,000 | $28,874 | $81,048 | $52,174 |
| STUART PARK | $722,500 | $33,114 | $81,048 | $47,934 |
| BAKEWELL | $532,500 | $24,405 | $68,348 | $43,943 |
| PARAP | $819,000 | $37,536 | $81,048 | $43,512 |
| GRAY | $468,000 | $21,449 | $64,752 | $43,303 |
| WOODROFFE | $470,000 | $21,541 | $64,752 | $43,211 |
| DRIVER | $478,000 | $21,908 | $64,752 | $42,844 |
| MOULDEN | $482,000 | $22,091 | $64,752 | $42,661 |
| GUNN | $568,500 | $26,055 | $68,348 | $42,293 |
| WAGAMAN | $523,000 | $23,970 | $64,820 | $40,850 |
Top 10 most affordable regional suburbs
Northern Territory’s most affordable regional suburbs list was topped by the beautiful beach town of Dundee. Homeowners here have a post-mortgage repayment income of $47,607.
Gillen had the highest median house value in the list at $464,000 and homeowners took home an average of $36,828 per household after repayments were made.
| Area | Median house value | Annual mortgage repayments | Av. after-tax income per household | Income remaining |
|---|---|---|---|---|
| DUNDEE BEACH | $357,000 | $16,362 | $63,969 | $47,607 |
| TENNANT CREEK | $258,000 | $11,825 | $58,634 | $46,809 |
| KATHERINE SOUTH | $371,500 | $17,027 | $58,635 | $41,608 |
| THE GAP | $385,000 | $17,645 | $58,967 | $41,322 |
| KATHERINE | $393,000 | $18,012 | $58,635 | $40,623 |
| KATHERINE EAST | $397,000 | $18,195 | $58,635 | $40,440 |
| SADADEEN | $430,500 | $19,731 | $58,967 | $39,236 |
| BRAITLING | $455,500 | $20,876 | $58,967 | $38,091 |
| GILLEN | $464,500 | $21,289 | $58,967 | $37,678 |
| BATCHELOR | $306,000 | $14,025 | $50,853 | $36,828 |
Tasmania
Top 10 most affordable capital city suburbs
Historical South Hobart presented the most affordable suburb in Tasmania, with a median house value of $440,000 and household incomes of $43,982.
This was followed by Dynnyrne in Hobart, leaving homeowners with an annual income of $43,560 after mortgage repayments.
At the bottom of the top 10 list was Goodwood, also in Hobart, with a median house value of $217,000 and average remaining incomes of $37,643 per year.
| Area | Median house value | Annual mortgage repayments | Av. after-tax income per household | Income remaining |
|---|---|---|---|---|
| SOUTH HOBART | $440,000 | $20,166 | $64,148 | $43,982 |
| DYNNYRNE | $538,500 | $24,680 | $68,240 | $43,560 |
| WARRANE | $239,000 | $10,954 | $53,219 | $42,265 |
| MORNINGTON | $266,500 | $12,214 | $53,219 | $41,005 |
| MOUNT NELSON | $503,000 | $23,053 | $63,833 | $40,780 |
| NORTH HOBART | $437,000 | $20,029 | $58,815 | $38,786 |
| SANDY BAY | $648,500 | $29,722 | $68,240 | $38,518 |
| MONTAGU BAY | $325,500 | $14,918 | $53,219 | $38,301 |
| TAROONA | $489,000 | $22,412 | $60,344 | $37,932 |
| GOODWOOD | $217,000 | $9,946 | $47,589 | $37,643 |
Top 10 most affordable regional suburbs
The most affordable suburb in regional Tasmania was Queenstown, on the west coast of the island.
The average household in Queenstown has an income of $58,218 after mortgage repayments. Second and third were Waverly and Ravenswood with close incomes of $46,809 and $46,648 respectively.
St Leonards had the highest median house values of $237,500 and take home incomes of $42,661.
| Area | Median house value | Annual mortgage repayments | Av. after-tax income per household | Income remaining |
|---|---|---|---|---|
| QUEENSTOWN | $80,500 | $3,689 | $62,007 | $58,318 |
| WAVERLEY | $147,000 | $6,737 | $53,546 | $46,809 |
| RAVENSWOOD | $150,500 | $6,898 | $53,546 | $46,648 |
| LULWORTH | $217,000 | $9,946 | $53,924 | $43,978 |
| ACTON | $147,000 | $6,737 | $50,457 | $43,720 |
| ST LEONARDS | $237,500 | $10,885 | $53,546 | $42,661 |
| SHOREWELL PARK | $173,500 | $7,952 | $50,457 | $42,505 |
| GEORGE TOWN | $140,500 | $6,439 | $48,858 | $42,419 |
| HILLCREST | $189,500 | $8,685 | $50,457 | $41,772 |
| SUMMERHILL | $262,500 | $12,031 | $53,546 | $41,515 |
South Australia
Top 10 most affordable capital city suburbs
Vale Park in Adelaide topped South Australia’s most affordable capital city suburbs list with a household income of $66,819 per year.
This was followed by Collinswood in second with an income of $61,273 after mortgage repayments were made and a median household income of $733,000.
Trailing in third was North Adelaide with a take-home income after repayments of $58,775 per year.
| Area | Median house value | Annual mortgage repayments | Av. after-tax income per household | Income remaining |
|---|---|---|---|---|
| VALE PARK | $612,000 | $28,049 | $94,868 | $66,819 |
| COLLINSWOOD | $733,000 | $33,595 | $94,868 | $61,273 |
| NORTH ADELAIDE | $852,000 | $39,049 | $97,824 | $58,775 |
| UNLEY | $917,000 | $42,028 | $97,800 | $55,772 |
| WALKERVILLE | $951,500 | $43,609 | $94,868 | $51,259 |
| GILBERTON | $969,500 | $44,434 | $94,868 | $50,434 |
| HYDE PARK | $1,067,500 | $48,926 | $97,800 | $48,874 |
| MALVERN | $1,067,500 | $48,926 | $97,800 | $48,874 |
| CLAPHAM | $589,000 | $26,995 | $75,677 | $48,682 |
| CRAFERS WEST | $600,500 | $27,522 | $75,267 | $47,745 |
Top 10 most affordable regional suburbs
If you’re calling regional South Australia home, the most affordable suburb was Roxby Downs, a mining town 563 km north of Adelaide.
Residents here took home $85,910 after repayments, due to the high incomes they receive.
This was followed by Whyalla Jenkins in second place with a lower household income of $58,383.
Methodology
This study by finder.com.au calculated the average mortgage repayments per year using a home loan rate of 5.1% and using median house value data from onthehouse.com.au. The average after tax income was calculated by deducting the relevant tax from the average wage for each postcode using data from the ATO. This was then used to calculate the remaining income after mortgage repayments were deducted and the suburbs were then ranked in descending order.
Picture: Ross Websdale, licensed under Creative Commons Attribution-NonCommercial-ShareAlike 2.0 Generic (image cropped)
