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Cheapest suburbs to buy and rent in Sydney

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Looking for an affordable property to buy or rent in Sydney?

Well, that may sound like a contradiction because Sydney's property market is anything but ‘cheap’ - but there are opportunities to be found if you know where to look. You do need to be realistic though and realise you won't be living down at Bondi with a view of the beach.

This article will help point you in the direction of the cheapest house prices in Sydney or the cheapest suburbs to rent in Sydney, so you at least have a starting point to begin your search!

Cheapest suburbs to buy in Sydney

most affordable suburbs in Sydney
Due to a surge in first home buyers, the cheapest suburbs in Sydney have remained steady amongst the housing decline.

Make no mistake, it can be confronting looking at Sydney property prices. In June 2021 dwelling prices rose another +2.6 per cent rise for the month, bringing the median dwelling price within touching distance of the ‘magical’ $1 million mark. So it's no surprise that buyers are snapping up opportunities in the cheapest suburbs in Sydney to buy a house.

But, where exactly are these ‘bargain’ gems?

Cheapest suburbs to buy in Sydney

Make no mistake, it can be confronting looking at Sydney property prices. In June 2021 dwelling prices rose another +2.6 per cent rise for the month, bringing the median dwelling price within touching distance of the ‘magical’ $1 million mark. So it's no surprise that buyers are snapping up opportunities in the cheapest suburbs in Sydney to buy a house.

But, where exactly are these ‘bargain’ gems?

Top 5 cheapest suburbs to buy a house in Sydney

In terms of affordability, the most affordable suburbs in Sydney tend to be situated west, many in the Blacktown city council region. The outer western suburbs are diverse multiculturally, offering a vision of what a future Australia will look like - and with a local economy that is steadily growing, so there is less need to travel to the CBD for work. These suburbs are the only areas in Sydney where you can find median house prices under $600,000.

The suburb of Emerton, 46 kilometres west of the CBD in the local government area of the City of Blacktown in Western Sydney, is currently one of the cheapest suburbs to buy a house in Sydney, with a median price of $552,500. If you are looking at Sydney house prices as a benchmark, the current median for Sydney is $1,186,518, (CoreLogic: June, 2021).

The top five cheapest suburbs to buy a house in Sydney metro are currently:

Emerton - $552,500
Tregear - $552,500
Shalvey - $566,500
Warragamba - $575,000
Dharruk - $615,000

If you are looking for something closer, Domain reports that the cheapest suburb to buy a house within 10 kilometres of Sydney’s CBD is the suburb of Arncliffe, where the median house price is currently $1,310,000 .

Top 5 cheapest suburbs to buy a unit in Sydney

If you are looking at units, be aware the current median across Sydney is $781,708 (CoreLogic: June, 2021). The suburb of Ambarvale, 55 kilometres south-west of the Sydney central business district, in the local government area of the City of Campbelltown is currently one of the cheapest suburbs in Sydney.

The top 5 cheapest suburbs to buy a unit in Sydney metro are currently:

Ambarvale - $340,000
Carramar - $370,000
Fairfield - $385,000
Leumeah - $413,250
Minto - $475,000

When searching for a property to buy, consider how much commuting will cost you in time and money. In some cases, it may be more affordable in the long run to purchase a property a bit closer to the city.

Cheapest suburbs to rent in Sydney

Did you know that Sydney is currently not the most expensive city to rent in?

Yes, true!

According to the latest Domain Quarterly Rental Report, Canberra now owns that title with house rents of $630 per week and unit rents of $500 per week.

The Sydney rental market for houses is flat quarter on quarter with a weekly rent of $550, which is actually +1.9 per cent up on this time last year. Units are down -6.0 per cent year-on-year with a weekly asking rent of $470. There is still an excess of rental supply of units due to the loss of international students and advent of remote working. This does mean tenants have more power to negotiate the terms of a lease.

Domain also points out that the rental market is by no means uniform, with ‘...unit rents declining over the quarter in Parramatta, Blacktown, the south west, inner south west and inner west’, with unit rents in ‘...the city and inner south, eastern suburbs, North Sydney and Hornsby...rising over the quarter, following a sharp dip’.

We've outlined the cheapest rental areas in Sydney where you can get more bang for your buck!

Suburbs within 10-20 kilometres of the CBD

When renting for convenience and lifestyle factors, finding a place within 10 to 20 kilometres of Sydney's bustling CBD is best. Suburbs still exist that are flying under the radar and offering rent prices well below the average for apartments. These include:

Croydon Park - $350 p/w
Ashfield - $410 p/w
Eastlakes - $380 p/w
Gladesville - $440 p/w

Just 8 kilometres away from the CBD, Ashfield weekly rents are now $410 down from $490 in 2019! With its close proximity to the CBD, convenience will be your friend as commute time is also easy and more affordable. Roughly 11 kilometres from the centre, Croydon Park are currently $350 per week - down from $415 per week in 2019, making it one of the cheapest suburbs to rent an apartment close to the city.

Just under 12 kilometres away from the CBD is Gladesville, where the average unit rental is now $440 per week, down from $485 in 2019. For more value for money, consider renting in Eastlakes where, just eight kilometres to the centre, the average rental price for apartments is $380 per week.

Looking to nab a bargain rental house with easy access to local amenities and public transport? If you are, then look no further than Campsie, Canterbury and Bankstown! All three hotspots not only sit under 18km away from the CBD, but they also have median rent prices under $600.

Bankstown - $500 p/w
Campsie - $550 p/w
Canterbury - $580 p/w

Suburbs further than 20 kilometres from the CBD

Further out, in areas where you have to commute more than 20 kilometres to the city, you will find relatively cheap rent for both houses and units in certain pockets.
For rental houses, you can find snap up a rough deal in:

Willmot for $340 p/w
Carramar for $380 p/w
Leumeah for $400 p/w
Blacktown for $410 p/w
Regents Park for $440 p/w

And for rental apartments, you can grab these deals in the same areas:

Carramar - $300 p/w
Leumeah - $350 p/w
Regents Park - $350 p/w
Blacktown - $370 p/w

Talk about a bargain!