9 July 2026
Rental prices on the Gold Coast have reached a new record high, with the median asking rent rising to approximately $900 per week in June. The fast-growing city is now recognised as Australia’s most expensive rental market, driven by ongoing supply shortages, strong tenant demand and limited affordable new housing.
The Gold Coast has officially become Australia’s most expensive city to rent a home, with rental prices reaching new record highs in the June quarter.
According to the latest market data, the median asking rent has climbed to around $950 per week for houses and $850 per week for units, reflecting continued strong demand and limited housing supply. Separate industry data also reported median asking rents approaching $900 per week, following another increase over the past three months.
The Gold Coast’s rental growth mirrors a broader national trend, with rental prices across Australia’s capital cities recording their strongest pace of growth in almost two years. However, the Gold Coast continues to lead the country as one of the most competitive rental markets.
Premium coastal suburbs remain the most expensive locations for both houses and apartments, driven by lifestyle appeal, limited availability and strong demand. Apartments in beachside and inner-city precincts continue to achieve rental values comparable to houses, highlighting the premium placed on location.
Despite the headline figures, property analysts emphasise that the Gold Coast is not a single rental market. Rental prices vary considerably across the city, with several northern and inland suburbs continuing to provide more affordable housing options. While these areas have also experienced rental growth, they generally remain more accessible than the established coastal suburbs.
Industry experts attribute the continued rise in rents to several ongoing factors, including population growth, a shortage of rental properties, higher borrowing costs and an insufficient supply of affordable housing. With vacancy rates remaining well below a balanced market, competition among tenants continues to support upward pressure on rental prices.
Another contributing factor is the type of housing currently being built. Many new developments are focused on premium or luxury homes, leaving relatively few affordable properties entering the market. As a result, increasing demand continues to place significant pressure on existing rental stock.
The Gold Coast’s vacancy rate remains around 1.1%, substantially below the 2.6% to 3.5% range generally considered to represent a healthy and balanced rental market. Until housing supply improves—particularly in the affordable housing sector—industry leaders expect rental conditions to remain tight and rental prices to stay elevated.
Why the Gold Coast Rental Market Remains High ?
According to Nicola Powell, Chief of Research and Economics at Domain, current market conditions continue to favour landlords.
“We’ve seen three rate hikes this year, there’s not enough rental supply, it’s still a landlord’s market,” Ms Powell said.
She also noted that the Gold Coast should not be viewed as a single rental market, with rental prices varying significantly across the region. While the northern Gold Coast recorded some of the strongest rental growth over the past 12 months due to rapid population growth, it remains one of the city’s more affordable areas for renters.
For houses, Pimpama remained the most affordable suburb, with a median asking rent of $743 per week, followed by Willow Vale ($750) and Labrador ($775). For units, Nerang ($650), Ashmore ($685) and Labrador ($700) offered the most affordable rental options.
Ms Powell encouraged tenants to research the market carefully, noting that although some suburbs have experienced strong rental growth, others have remained relatively stable or even recorded slight declines.
Meanwhile, Antonia Mercorella, CEO of the Real Estate Institute of Queensland (REIQ), described the latest rental figures as “not surprising but significant”. She said ongoing housing supply shortages and the growing number of premium-priced developments are placing increasing pressure on the established rental market.
“We’re seeing so much pressure being placed on the established housing market because the only things that are being constructed have very, very hefty price tags and they’re out of reach for many Queenslanders,” Ms Mercorella said.
According to REIQ, the Gold Coast’s rental vacancy rate remains extremely tight at 1.1%, well below the 2.6%–3.5%range generally considered to represent a healthy and balanced rental market.
