Not everyone’s dream rental is a flashy abode with all the bells and whistles.
Fancy having the cheapest rent in Melbourne?Play Video
For some, it’s a cheap rental so there’s more money to spend on important things like exotic holidays and pimped out breakfasts.
Rental prices continue to climb: In Melbourne alone, REIV data shows the median rent for a house went from $450 in December 2018 to $470 in January 2019. However, that doesn’t mean there still aren’t some inner-city bargains to be snapped up.
The perfect example of this is 71 Elizabeth Street in Coburg and while it’s unfortunately JUST been leased through New Key Real Estate, there are plenty more like it on the market.
This three-bedroom, one-bathroom home is just $395 per week. With a couple and two singles, rent would come in at $98.75 each. Considering the median rent for a three-bedder in Coburg is $550 per week, 71 Elizabeth is a gem in the rough.
For this price, you won’t get the flashy rental of your dreams, but there’s still a lot to love about it.
71 Elizabeth Street in Coburg is $395 per week. Picture: www.realestate.com.au/rent
Firstly, the bedrooms are all decent sizes and come with built-in robes. There’s also a bathroom with separate toilet (which will come in handy when sharing with housemates), gas heating, a huge backyard with a shed, and off-street parking.
Located in Coburg also means you’re a truly north Northsider. As the cool crew from Northcote and Thornbury continue to migrate further away from the city for cheaper rent, Coburg is attracting this demographic.
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71 Elizabeth is also a way to save money while still living independently. By opting for this cheaper rental, instead of paying $300 a week for a place in Fitzroy, you’ll make a saving of $9,600 a year. Home deposit, here you come!
This one may be off the market, but here are some more rental listings for close to 100 bucks a week across the country.
12/47 Waxman Parade, Brunswick West, VIC
This is a two-bedroom apartment in Brunswick West priced at $290 per week.
Share with a couple and a single and rent comes to just $93 each.
You could definitely have fun jazzing up that retro kitchen, and Sydney Road is a short stroll away.
This is a two-bedroom, one-bathroom apartment. Picture: realestate.com.au/rent
1/35 Burraneer Bay Road, Cronulla, NSW
It’s easy to waste money on a rental in Bondi where the median rent is $748 per week for a unit. However, you can have a beachside lifestyle for a fraction of the cost living in Cronulla, where the median rent is $480 per week.
1/35 Burraneer Bay Road, Cronulla provides you with all the perks of living next to the beach and near Sydney’s CBD, but you’ll be paying just $121 each on rent here if you live as a couple and a single.
1/35 Burraneer Bay Road is just a short walk to Cronulla Beach. Picture: www.realestate.com.au/rent
1/92 Langshaw Street, New Farm, QLD
This three-bedroom house in trendy New Farm is $440 per week. Share with a couple and two singles and you’ll be paying just $110 each.
The space is airy and bright, and cats are allowed on application, so your furry friend can become an additional housemate.
This cheap rental is located in trendy New Farm. Picture: www.realestate.com.au/rent
27/21 South Terrace, Adelaide, SA
This two-bedroom apartment may not be the most spacious home in Adelaide, but for just $250 a week, living in close quarters to your housemate for $125 each would be worth it.
Live with a couple as a single and you’ll be paying just $83 a week – you can use the extra money you save for decorating.
The living room in this two-bedroom apartment is small, but has potential. Picture: www.realestate.com.au/rent
504 William Street, Highgate, WA
This three-bedroom, one-bathroom home is located close to Hyde Park and some top-notch cafes and restaurants.
The older-style home is spacious inside and boasts a huge backyard for $350 per week. Moving in with a couple and two singles means you’ll be laughing at $87.50 per week each.