Rent vs Mortgage
A comparison of the rents vs mortgage repayments for houses and units in Melbourne.
Sources and Assumptions
The following sources are used
- Neoval property price data as at
- ABS rent data from the 2021 census
- RBA interest rates, with the latest data from
The analysis only includes SA2s from the greater Melbourne region (although it would be easy to extend nationally given appropriate rent data).
Repayments are calculated on the assumption of a 20% deposit and a 30 year mortgage using the RBA rate of
Aggregate Ratios
Of
Units typically have a
Distribution
Price distribution
Geographic distribution
Where are the mortgages relatively "affordable" (closest to rents)?
The FIXED
colour range option ensures the same fixed range of colours for consistent display across both units and houses, while the DYNAMIC
option adjusts the range based on the data to maximise the contrast.
SA2 Details
The specific details for all SA2s included can be checked below.