3 ms·

Median wage in Sydney is not exceptionally high though

• cpncrunch 2y ago
  But still more than enough to pay for housing on less than half of post-tax income. Median salary is $1250/week in Australia, and presumably higher in Sydney.
  • lmpdev 2y ago
    Sydney is $1,300/w pretax which is ~$1,050 net And median Sydney rents just hit $745/w So approximately 70% of median income is lost to rent each week for a median single income household Similar story for me personally in Brisbane
    • cpncrunch 2y ago
      You can rent for below median though.
      • averageRoyalty 2y ago
        You've missed the point though. Yes you can get above median wages and below median rent, but in a highly competitive market (low unemployment, low housing supply) you probably won't. Even fudging the numbers so 50-60% of your post tax income is rent doesn't leave a lot on the table for savings, other (high) cost of living expenses etc. Additionally, median wage is a reach for those in their first 5-10 years of career, but the jobs are still highly focused in cities.