Adelaide’s top 20 expensive and affordable suburbs to rent

29 Apr 2022

| Home Loan

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 weekQuarterly change
(Jan-Mar 22)
Year on year change
$4853.0% increase9.0% increase
Units in Adelaide
Median rent per weekQuarterly change
(Jan-Mar 22)
Year on year change
$3842.7% increase6.6% 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.

RankSuburbProperty 
type
Median 
value
Gross

rental
yield

Median
rent
Monthly
change
Quarterly
change
Annual
change
1Glenelg SouthHouses$1,324,9602.83%$7840.6%5.9%11.0%
2MalvernHouses$1,778,4402.23%$7751.0%4.5%4.7%
3Myrtle BankHouses$1,492,4152.57%$7540.2%2.5%7.3%
4UnleyHouses$1,500,3242.49%$7531.0%4.7%10.2%
5BeaumontHouses$1,696,7562.24%$751-0.3%-0.5%8.0%
GlenelgHouses$970,8123.57%$7441.8%4.6%11.2%
7Somerton ParkHouses$1,143,4813.07%$7421.6%7.4%12.3%
8St GeorgesHouses$1,669,5912.19%$7350.3%0.7%10.8%
9FullartonHouses$1,472,5822.51%$7301.0%4.3%6.7%
10North AdelaideHouses$1,202,8703.05%$7191.5%3.7%12.6%
11BurnsideHouses$1,416,2592.57%$7161.7%0.5%6.7%
12St PetersHouses$1,791,4662.04%$7152.0%4.5%12.3%
13WalkervilleHouses$1,654,8732.21%$7050.1%2.4%8.3%
14Linden ParkHouses$1,503,8742.49%$7041.7%1.6%12.1%
15ParksideHouses$1,310,8352.70%$7041.3%5.2%9.2%
16GlensideHouses$1,367,3682.66%$7002.6%2.6%14.0%
17Glenelg EastHouses$1,113,2533.30%$6990.9%5.3%12.9%
18GoodwoodHouses$1,413,7022.52%$6871.2%4.3%10.6%
19GlenungaHouses$1,624,8422.21%$6860.9%1.7%14.4%
20 Kensington ParkHouses$1,442,1932.40%$6851.4%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.

RankSuburbProperty
type
Median
value
Gross
rental
yield
Median
Rent
Monthly
change
Quarterly
change
Annual
change
1SalisburyUnits$238,1306.32%$2890.9%1.8%2.4%
2Salisbury EastUnits$252,8005.89%$2910.4%0.7%3.0%
3Andrews FarmUnits$260,9066.05%$3061.7%3.2%12.1%
4Salisbury NorthUnits$265,6976.23%$3120.4%1.3%3.0%
5Elizabeth NorthHouses$248,2356.79%$3260.9%3.0%11.9%
6Elizabeth SouthHouses$263,1296.24%$3271.2%3.3%11.0%
7Windsor GardensUnits$289,4855.76%$3320.1%0.2%7.7%
8Elizabeth GroveHouses$281,6626.10%$3341.3%3.5%10.8%
9Croydon ParkUnits$336,7585.08%$3392.9%4.2%3.9%
10Davoren ParkHouses$282,7926.24%$3391.0%4.0%13.4%
11Bedford ParkUnits$268,5506.41%$3392.4%3.7%11.7%
12Brooklyn ParkUnits$322,9285.41%$3391.1%2.1%7.1%
13KlemzigUnits$304,0515.81%$341-0.8%0.5%8.2%
14Kurralta ParkUnits$329,2835.50%$3411.6%3.8%6.1%
15PlymptonUnits$329,6225.51%$3411.0%2.6%5.4%
16Elizabeth DownsHouses$263,1736.70%$3420.9%3.2%11.8%
17Smithfield PlainsHouses$302,9785.81%$3441.3%4.0%12.6%
18Elizabeth ValeHouses$323,6345.48%$3481.4%3.9%10.4%
19Elizabeth EastHouses$335,7445.25%$3480.9%1.9%10.3%
20Hope ValleyUnits$338,7045.29%$3501.1%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 (08) 8202 7777 between 8am – 8pm weekdays or 8am – 2pm Saturdays.

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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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