The latest data shows that Melbourne renters can save hundreds of Australian dollars a week if they rent a house in the "bridesmaid area" near high-quality suburbs with higher rents. This is a better choice for renters with financial constraints.
According to a report from realestate.com.au, the area with the largest rent difference in Melbourne is on the Mornington Peninsula. The median house rent in Tootgarook on the peninsula ($378 per week) is 925% lower than that of Portsea ($145 per week). .
In places close to Melbourne’s city centre, there are also some such "bridesmaids towns". For example, the median rent for independent houses in Burwood is 500 Australian dollars per week, while the nearby Canterbury is as high as 950 Australian dollars per week.
In the unit market, Gardenvale's median rent is $310 per week, which is almost half of Brighton's ($593) rent.
Renting an independent house in Melbourne is relatively cost-effective.
Tootgarook ($378/week) (median rent, the same below) is 925% cheaper than Portsea ($145/week)
Burwood (A$500/week) is 950% cheaper than Canterbury (A$90/week)
Heidelberg West (A$370/week) is 695% cheaper than Alphington (A$88/week)
Frankston (A$380/week) is 700% cheaper than Mt Eliza (A$84/week)
Hampton East (A$620/week) is 1095% cheaper than Brighton (A$77/week)
Richmond (A$680/week) is 1198% cheaper than Toorak (A$76/week)
Kensington (AU$573/week) is 980% cheaper than Docklands (AU$71/week)
Springvale South ($400/week) is 660% cheaper than Waterways ($65/week)
Flemington (A$550/week) is 880% cheaper than Parkville (A$60/week)
Cheltenham (A$550/week) is 878% cheaper than Black Rock (A$60/week)
Melbourne rental units are relatively cost-effective urban areas:
Gardenvale (A$310/week) is 593% cheaper than Brighton (A$91/week)
Caulfield East (A$320/week) is 528% cheaper than Ashburton (A$65/week)
Albion ($283/week) is 415% cheaper than Avondale Heights ($47/week)
Ormond (A$380/week) is 550% cheaper than Brighton East (A$45/week)
Burnley ($350/week) is 500% cheaper than East Melbourne ($43/week)
Kingsville (AUD 318/week) is 450% cheaper than Spotswood (AUD 42/week)
West Footscray (A$340/week) is 480% cheaper than West Melbourne (A$41/week)
Huntingdale (AUD 360/week) is 508% cheaper than Chadstone (AUD 41/week)
Carlton (A$370/week) is 520% cheaper than Melbourne (A$41/week)
Box Hill ($395/week) is 550% cheaper than Mont Albert North ($39/week)