Renters earn $59 more than they need to survive
THE average household in Bundaberg must earn at least $933 a week to be able to pay rent comfortably.
A new report released by Compass Housing Services revealed the Bundy region was smack-bang in the middle when it came to housing affordability in Queensland, with the Rum City failing to appear among both the state's most affordable and least affordable local government areas.
Assessing housing affordability for households renting in the rental market across Australia, the report determined the median cost of rent in Bundaberg was $280.
From there it found the region's households would need an annual income of $48,533 to rent affordably and $51,584 992 for households renting privately, giving Bundaberg a weekly Affordable Housing Income Gap of -59.
The measurement is calculated by subtracting renters' median weekly income from the weekly income required to pay the median rent, without exceeding the 30 per cent affordability threshold. The result is the amount of extra income a typical renting household would need to avoid housing stress.
Bundaberg's AHIG of -59 means the typical renting household in the region spends 28 per cent of their income on rent and earns an average of $59 above what they would need in order to pay rent comfortably.
Fairing far better were Gladstone, Rockhampton and Mackay, with the average households earning $846, $398 and $376 above what the median rent in each area demanded respectively.
Significantly out of pocket according to the NewsMail's analysis were the Sunshine Coast, Noosa and Hervey Bay.
The three areas recorded AHIGs of $82, $186 and $65 respectively, indicating the average household in those regions earned far less that what the median rent required.