How sharing a place can save you money

by Meredith

Every renter would love to live in their city’s most desirable suburbs. But in prime locales, even one-bedroom or studio apartments can be prohibitive in price.

image

The beachside lifestyle that a one-bedroom/studio in Bondi offers will set you back, on average, almost $600 a week, while a similar property at Southbank, on the edge of Melbourne’s CBD, will cost you an average of $555 per week – putting them well out of reach for most renters.

So how can you have the location and lifestyle you want, but without the hit to your hip pocket?

Have you considered a share house?

Renting in an established share house can save you as much $500 a week in some suburbs, and in most cases you’ll be saving at least $100 to $200.

Try these popular suburbs in your city on for size.

NSW – Potts Point

Average rent for one-bedroom/studio - $504
Average rent per room on Flatmates.com.au - $363

Weekly saving = $141

One of Sydney’s millionaire’s playgrounds, with harbour views and within walking distance of the CBD, it’s not hard to see why Potts Point attracts premium prices.

But if share housing takes your fancy then the experience suddenly becomes far more affordable, with an average room costing two-fifths of what you’d pay for your own one-bedroom apartment in the same area.

VIC – South Yarra

Average rent for one-bedroom/studio - $438
Average rent per room on Flatmates.com.au - $283

Weekly saving = $155

Prestigious South Yarra, in Melbourne’s inner city, is a renter’s mecca, with a mix of established period homes, older apartments and new high-rises.

While you can expect to pay well over $400 for your own place, a room in a larger apartment or property will set you back less than half that amount, on average.

QLD – Fortitude Valley

Average rent for one-bedroom/studio - $353
Average rent per room on Flatmates.com.au - $249

Weekly saving = $104

On the edge of Brisbane’s CBD and renowned for its pubs, bars and nightlife, as well as being home to Chinatown, Fortitude Valley is where many renters want to be.

Being this close to the city might cost you megabucks in Sydney or Melbourne, but here you’ll pay an average of less than $240 for a room in a share house, saving yourself hundreds of dollars in rent each month and giving you more to spend on enjoying your location.

WA – Perth

Average rent for one-bedroom/studio - $331
Average rent per room on Flatmates.com.au - $218

Weekly saving = $113

Many renters in Perth want to be where the action is, and for that, the CBD is the place to be.

Apartments and studios are many and varied in the WA capital, but will still set you back an average of more than $330 a week. Share housing, on the other hand, will see you pay less than two thirds of that amount.

ACT – Kingston

Average rent for one-bedroom/studio - $457
Average rent per room on Flatmates.com.au - $260

Weekly saving = $197

With all of its government employees, as well as its stunning landscape, Canberra is known for being a pricey rental market, and inner-city Kingston is right up there. You can expect to pay a pretty penny to live there, with one-bedrooms and studios averaging more than $450 a week.

But look into a share house and you can easily halve that weekly expenditure, plus you’ll be in a larger property.

SA – Adelaide

Average rent for one-bedroom/studio - $365
Average rent per room on Flatmates.com.au - $218

Weekly saving = $147

Similarly to Perth, the heart of Adelaide is ‘rent central’, but you’ll be paying for the privilege. Studios and one-bedrooms average around $365 per week, but the cost dips below $300 per week if you’re open to sharing with a housemate or two.

TAS – Hobart

Average rent for one-bedroom/studio - $301
Average rent per room on Flatmates.com.au - $205

Weekly saving = $104

Renting in stunning Hobart is a steal, compared with other state capitals, but you can still make it even more affordable by opting to share.

A little over $200 will get you an average room on flatmates.com.au, shaving about 30% off your rent if you’ve been considering a one-bedroom of your own.


Average room price current 17 December, based on rooms listed on Flatmates.com.au in the previous six months. One bed properties and studios average price provided by Realestate.com.au, 21 August 2018.

  • Meredith
  • support@flatmates.com.au
  • Meredith is Flatmates.com.au's Community Moderator. Originally from California, Meredith now calls Sydney home.